'There has been a huge shift. Consumer needs and requirements have changed, and differ from city to city.'
Despite a 56 per cent fall in residential launches in the first half of the year compared to the second half of 2019, Anarock Property Consultants believes that consolidation in residential real estate is expected to gain ground, and that branded players may garner a market share of 75-80 per cent.
Listed realty developers saddled with unsold properties worth Rs 1 trillion
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
With the real estate sector witnessing robust demand, realtors are doling out freebies and offering a slew of attractive schemes to lure potential customers this festival season. "Developers are providing Amazon vouchers that go up to Rs 1 lakh, iPads, and flexible payment plans that propel customer excitement," said Angad Bedi, managing director at real estate company BCD Group. Bedi said customers have a mindset to go for a change during the festival season, and developers see it as an opportunity to combine it with long-term and practical offers that drive buyers to close in on a deal during this period.
A recent report by Citi had pegged the total amount stuck in stalled projects across seven major Indian cities (Bengaluru, Mumbai Metropolitan region, National Capital Region, Ahmedabad, Hyderabad, Kolkata and Pune) at Rs 80,000 crore.
Home prices across the top six cities are set to jump 6-10 per cent this fiscal and 3-5 per cent in the next financial year because of a steep rise in raw material, labour and land costs, and relatively favourable demand-supply dynamics, a report said on Thursday. The report by Crisil also said large residential realtors are on course to log a robust 25 per cent sales growth in 2022-23 and 10-15 per cent in the next fiscal. The unsold inventory level is down to 2.5 years from four years pre-pandemic, and this has credit profile of the large realtors strengthening, the report said.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
The industry status will help the sector access bank lending at average interest rates
Real estate sector cheers reforms in the Budget.
Budget might turn out to be neutral for the sector.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Though the developments are positive, analysts say the benefits will accrue only in the long run
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
The blast at The Rameshwaram Caf has caused distress and concern among the startup and information technology (IT) community, raising questions related to safety and security. Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Caf, a popular restaurant in Bengaluru's Brookfield. The surrounding area is a major hub for the Indian technology (tech) industry, housing many startups and top IT companies such as IBM, SAP, Accenture, International Tech Park Bangalore, and Prestige Technostar.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
Housing sector to benefit from Budget.
Oberoi Realty has hit the top slot in Mumbai's ranking of the top-20 developers in terms of sales in 2021, evicting the Runwal group which was number one last year. The Lodha group which had occupied the top slot three out of five times since 2017 slipped to second place in 2020 and continues to be in the same position in 2021. The Oberoi group was in fifth place in 2019 and fourth place in 2020. This is the first time that it has occupied the number one position. The Runwal group which took the top slot in 2020 is down to third place in 2021.
UB Holdings facing a slew of legal cases over its exposure to the loans of now-grounded Kingfisher Airlines and increasing pressure from a consortium of lenders, may be forced to seriously go ahead with the transaction this time.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
After razing his ancestral bungalow, housed in an expansive 4.5-acres of prime location in the central business district of Bangalore, Mallya's attempt to unlock value in the land by building the luxury KingfisherTowers has been stalled.
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
SBI, the country's largest lender, had recently issued public auction notices to sell Gopinath's pledged properties
The BSE Mid-and Small-cap indices outperformed their larger peers rising 72 per cent and 52 per cent, respectively, during Samvat 2070.
Sensex ended up 190 points at 25,519 and Nifty climbed 57 points to end at 7,626.
The company plans to raise Rs 750 crore; other realtors may follow.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Bombay Stock Exchange Sensex closed 30 points lower at 21,140 levels.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
Broader markers outperformed their larger peers.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
The S&P BSE Sensex shed 286 points to close at 24,539 and the Nifty50 lost 100 points to end at 7,456.
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