Falling for the sixth straight session, the BSE Sensex plunged 1,114.82 points or 2.96 per cent to close at 36,553.60 on Thursday, tracking a heavy selloff in global markets. The market capitalisation of BSE-listed companies stood at Rs 1,48,76,217.22 crore, down by Rs 11,31,815.5 crore in six sessions. Since September 16, the 30-share BSE benchmark index has fallen by 2,749.25 points.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
While Noida and Greater Noida, next to Delhi, had gained in prominence under Mayawati as the Uttar Pradesh chief minister, Lucknow would get the same treatment now, experts said after the results to the five state elections were announced.
Volatility returned to haunt the Street in the post-lunch session
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
The incremental stress is mainly from sectors including power, infrastructure, constructions, hospitality, iron and steel, telecom, and realty.
Rupert Murdoch-led News Corp has acquired 25 per cent stake in real estate portal PropTiger.com for $30 million.
Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp selling, the market capitalisation of BSE-listed firms plummeted by Rs 659,313.65 crore to Rs 1,78,79,323.05 crore.
Ruling out any relaxation in regulations, market regulator SEBI on Saturday said it will soon allow real estate funds, short selling by big investors and a system of stock lending and borrowing.
Amid the perception of gloom and doom in the Indian property market, here's something to cheer about. The real estate industry has given 1.21 times, or 20 per cent, average returns to private equity (PE) investors in the past four years, compared to the global average of 0.8 times.
The NSE Nifty ended at 4,111, up 137 points. The market breadth was extremely positive. Out of 2,639 stocks traded, 1,956 advanced while only 602 declined. The rest were unchanged.
Indian office real estate supply is expected to cross 100 million sq ft in a year to cater huge IT and IT-enabled services requirements.
The developers are hoping for some policy actions in the upcoming budget to revive the sector, which they feel would be key for the speedy recovery.
ICICI Bank was the top gainer in the Sensex pack, jumping over 5 per cent, followed by Axis Bank, Nestle India, SBI, HDFC, ONGC and Kotak Bank. On the other hand, Bajaj Auto, TCS, Bharti Airtel, M&M and Maruti were among the laggards.
There has been a significant upsurge in the hiring activities as 52 per cent of companies are recruiting new staff at the moment, while 60 per cent are looking to do so in the near future.
Developers who are launching new projects are opting for this route, as they need not pay the entire amount in one lot and owners need not forego the potential rise in value. As much as 70 per cent of land deals in the country take place through this model now, against 40-45 per cent a couple of years earlier, say property consultants.
Experts say investors are investing in residential units in Greater Noida, hoping for significant returns through the next few years.
The Union Cabinet has cleared the Real Estate (Regulation and Development) Bill, aimed at organising and monitoring the sector.
PowerGrid was the top gainer in the Sensex pack, rallying over 4 per cent, followed by NTPC, UltraTech Cement, Tech Mahindra, Reliance Industries and IndusInd Bank.
Internal assessment follows banks' worries over systemic risks.
Companies are either taking small government projects alone or bidding for larger ones with consortium partners. The companies, which had 18-75 per cent of their order books in property development, say they are facing payment delays of 20-90 days from some of the private developers, blocking their working capital requirements. Some of them take a week's advance payment from developers to execute their projects.
Indians are the fourth-largest property buyers in Singapore.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
Sectorally, BSE metal, basic materials, energy, realty, power, oil and gas, finance, FMCG, bankex and telecom indices fell up to 1.71 per cent.
Rs 40 crore already deployed in a residential project in Chennai.
On other counts, however, RBI has not found merit in the commerce ministry's argument to keep loans for SEZ development outside the ambit of commercial real estate exposure. It has reiterated that bank exposure for purchase of land for an SEZ and its development, will be classified as commercial real estate, while infrastructure development will not be treated in the same manner.
According to RBI data, bank lending to commercial real estate registered 20 per cent growth in the year ended May 30 as compared to 1.2 per cent in the previous year.
India is ranked 20th in the list of world's top real estate investment markets with investment volume of $3.4 billion in 2012, property consultant Cushman & Wakefield said in its latest report.
Bangalore, the country's IT capital, is ranked No.1 on development prospects and 4th on investment prospects among Asia-Pacific (Apac) cities in 2009 from 13th poistion in 2008, according to the Emerging Trends in Real Estate Asia Pacific 2009 Report, which collated responses from participants across Asia-Pacific.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Real estate companies betting big on tier II and tier III markets sold more stock than firms focused on metros.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances