The Nifty ended up 24 points at 5,269.
The Enforcement Directorate (ED) has issued fresh summons to Shiv Sena MP Sanjay Raut asking him to appear on July 1 for questioning in a money laundering case linked to the re-development of a Mumbai 'chawl' and other related financial transactions involving his wife and friends, officials said.
The index also highlighted price sensitivity among real estate buyers in Ahmedabad.
Experts say rents are up because prices went up irrationally in several major markets.
Supertech's revenues zoomed to Rs 1,874 crore in 2012-13, from Rs 218 crore in 2007-08, on the back of a real estate boom.
Hyderabad evolved as a preferred investment destination during 2007-2008.
The actor looked stunning in her showstopping avtar.
'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.'
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.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
'Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees.'
The Union ministry of housing & urban poverty alleviation has refused to dilute the penalties to be imposed on non-compliant promoters in the final version of the Real Estate (Regulation and Development) Bill, despite industry opposition to the concept of sending the offender to jail.
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.
Battered and bruised by the slowdown, real estate developers have done a mid-course strategy correction and begun to offer low-cost and affordable houses.
Investor wealth slumped by Rs 3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months.
While the sudden rise in demand for affordable residential housing in the last couple of months has given the much-needed relief to real estate developers, commercial and retail segments continue to face the heat of oversupply, combined with declining rental rates and lower demand from investors.
Speculators often leveraged volume discounts on property purchases to re-sell them at prices lower than those available to individual buyers. This created problems for realtors when demand slowed, since it put pressure on them to take a hit on margins and lower prices still further. The lock-ins are expected to be introduced mostly for mid-income projects that offer prices 20 to 30 per cent below the market and, therefore, attract more undercutting from bulk discount buyers.
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.
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.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
The Federation of Indian Associations, the largest non-profit umbrella organisation in the tri-state area of New York, New Jersey and Connecticut of the Indian community, lit up the monument in a special ceremony organised by the FIA in cooperation with the Empire State Realty Trust.
Launch of new residential projects in top eight cities -- Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region (NCR) and Pune -- came down by 41 per cent in first half of 2017.
It's a race among real estate developers to complete a floor quicker than the rest. With timely delivery of projects turning into a selling point, innovative technology is being put to use by realtors like never before.
Investors ICICI Venture and PremjiInvest as well as a lender of Subhiksha Trading Services have objected to the cash-strapped retailer's merger plan with Chennai-based Blue Green Constructions and Investments, in which it acquired a 40 per cent stake in June last year.
The shortage of labour, a fund crunch, high interest rates and steep input costs have hammered the net profits of major real estate developers in the second quarter.
The time is opportune for realty firms to switch over to building affordable houses.
Expressing disappointment over RBI's decision to hike the key policy rate, real estate developers said this would lead to increase in finance cost and also affect housing demand during the festive season.
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.
Asks lenders to make sure that end use of advances to commercial real estate.
With the global meltdown badly affecting the real estate industry in the state, especially in Chennai, builders and potential consumers are adopting a 'wait and watch' strategy before purchasing property, according to industry experts. Chief marketing officer of www.indiaproperty.com a portal which gives a platform for builders and customers), K Gopalakrishnan said, "the meltdown has made potential customers postpone purchases."
With their home markets in turmoil, large global investors such as Blackstone, Carlyle, Morgan Stanley, JP Morgan and the Government of Singapore Investment Corporation are actively scouting for and signing deals in the Indian property sector.
The fact is evident from the conspicuous absence of advertisments on attractive offers by property developers in the print media here, which is relatively high during the current festive season. Developers Prakramsinh Jadeja and Pravin Patel admit to having fewer number of queries for buying as well as selling of both residential as well as commercial properties.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, RBI may not be comfortable with a bank owner having realty business under its wings.
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