The downturn has drastically lowered valuations of Indian real estate firms but the promoters face virtually no threat of takeovers as they are sitting on stakes in excess of 70-80 per cent of equity.
Products structured on real estate and promising over 20 per cent annual returns are gaining popularity among wealthy investors.
Both the South cities have also beaten the NCR in the number of new launches.
The Income Tax Department has put real estate firms, who developed housing projects for low- and medium-income groups, under the scrutiny for wrongful tax exemption claims.
It recorded the third highest growth in investments
Housing launches drop up to 59 per cent in key markets; IT hub Bangalore only exception
Investors' wealth slumped over Rs 8.77 lakh crore on Monday as concerns over surging COVID-19 cases in the country roiled the equity market. The 30-share BSE benchmark index plunged 1,707.94 points or 3.44 per cent to close at 47,883.38. During the day, it nosedived 1,897.88 points to 47,693.44. Tracking losses in equities, the market capitalisation of BSE-listed companies eroded by Rs 8,77,435.5 crore to Rs 2,00,85,806.37 crore.
Investor wealth on Friday declined over Rs 2.23 lakh crore as markets cracked. The 30-share BSE Sensex slumped 549.49 points or 1.11 per cent to close at 49,034.67. During the day, it plunged 788.37 points to 48,795.79.
Real estate developers are feeling the liquidity crunch -- the sources of funds are drying up even as they get squeezed from both sides: high interest rates and property prices have hurt offtake while rising steel, cement prices have pushed up input costs 20-25 per cent, which developers have to absorb for now.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
Besides making property more expensive, these also affect the existing owners with higher taxes
BJP has demanded a regulator for real estate sector to safeguard common man, in the upcoming Budget.
NCP president Sharad Pawar on Friday reiterated that the Income Tax Department's raids on Maharashtra deputy chief minister Ajit Pawar's relatives and aides came after his comparison of the Lakhimpur Kheri violence in Uttar Pradesh to the Jallianwala Bagh massacre during the British rule.
Delhi-NCR and Mumbai are still the most preferred destinations for NRIs to buy property, say property brokers.
'Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees.'
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
The Finance Ministry said that complaints against seven of them are being examined by Sebi, while the markets regulator has prima facie found two other firms to be running Collective Investment Scheme (CIS) and suitable actions are being taken against them.
US-based CB Richard Ellis released a study yesterday showing office space take-up across key Indian cities had increased 37 per cent in the first quarter of calendar 2013, compared with the same period last year.
Real estate prices in Hyderabad have fallen by 20-30 per cent, while those in Visakhapatnam have risen in the same range. The real estate sector in Andhra Pradesh is stabilising. The Telangana agitation over the last one year has seen real estate prices dipping in Hyderabad and soaring in coastal Andhra. Gradually, prices in both areas have settled.
The picturesque Palm Beach Road is being touted as Navi Mumbai's answer to Marine Drive.
This could bring down the average approval time from the current 196 days to 45-60 days.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
The global funds are gung-ho about the prospects of India's real estate sector and have committed billions of dollars, but the Indian mutual funds are treading cautiously.
Indian prefer to buy expensive properties in Dubai.
Lack of uniform valuation and disclosure standards could dampen the enthusiasm of investors in real state mutual funds once they are launched in the country.
The market breadth was negative. 1153 stocks had declied while 804 had advanced.
Land parcels acquired for 58 new projects, which are yet to be launched.
The Cabinet, chaired by Prime Minister Narendra Modi, allowed contractors to move to the new, speedier arbitration process, approved the release of 75 per cent of the amount in dispute against bank guarantees and provided for a conciliation board comprising independent domain experts in new contracts.
Was the real estate euphoria just a bubble waiting to burst? The current financial year will reveal the answer.
The actor looked stunning in her showstopping avtar.
In a double whammy for real estate developers, banks are likely to raise lending rates to builders by up to one percentage point while consumer interest fades with home loans becoming more expensive.
The 30-share BSE benchmark tanked 535.57 points or 1.13 per cent to close at 46,874.36 on Thursday. It has now lost 2,917.76 points in five days.
Investor wealth slumped by Rs 3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months.
Equity investors became poorer by over Rs 8 lakh crore in five days of market plunge. The BSE benchmark has lost 2,062.99 points or 4 per cent in five trading sessions. On Thursday, the 30-share BSE benchmark tanked 585.10 points or 1.17 per cent to close at 49,216.52. Following the bearish trend, the market capitalisation of BSE-listed companies declined by Rs 804,216.71 crore to Rs 2,01,22,436.75 crore in five days.
Real estate buying dropped between 2004 and 2012.
Investors have lost over Rs 5.55 lakh crore in four days of declines in the domestic equity markets. Rising domestic COVID-19 cases and selling in RIL and banking stocks dragged down the 30-share BSE Sensex by 562.34 points or 1.12 per cent to 49,801.62 on Wednesday. In four days, the benchamark has fallen by 1,477.89 points or 2.88 per cent. The market capitalisation of BSE-listed companies has tanked by Rs 5,55,400.52 crore in four days to reach Rs 2,03,71,252.94 crore.
Italian marble floors, bar, modular kitchen, a state-of-the-art bathroom and a swimming pool in the backyard: luxury has just got redefined, and that too for the middle class as far as housing is concerned.
Residential property prices in south Mumbai continue to soar.
Noida is going vertical with several high-rise luxury apartment complexes, malls and offices in the works. But are these safe?
The real estate space has been buzzing quite a bit of late. Especially after Parsvanath's IPO and the possibility of DLF coming into the market, at current valuations, is this the time to buy into this space?
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