NRI demand would help offset the liquidity problem, which is presently affecting realty sales.
Worli and Mahalaxmi in Mumbai Metropolitan Region are placed at second and third positions with average housing prices of Rs 41,500 and Rs 40,000 per sq ft, respectively.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
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.
The sobering news is that retailers - including big firms like Reliance Retail - and exhibitors are contemplating issuing force majeure notices to shopping malls and real estate owners, and are in discussions with them to formulate an action plan for sharing the financial burden of the lockdown.
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.
The move is likely to help 4.59 lakh housing units across the country.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
A trust deficit had been building between developers and their customers, with massive incidence of project delays and deviations. Compliance with Rera is an opportunity to revive buyers' confidence.
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
If you have been planning to buy a house, don't postpone your purchase. Developers are offering discounts, freebies and attractive payment plans.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
The total wealth of top 100 real estate barons accounted for Rs 2.37 trillion ($32.7 billion) in 2018, up 27 per cent against 2017's cumulative wealth of Rs 1.87 trillion ($28.6 billion).
JLL had shortlisted over 10 developers and Embassy was selected after a long due and rigorous process of due diligence.
Mumbai metropolitan region, comprising Mumbai city, Navi Mumbai and Thane, leads the pack (in delayed projects) with 210,000 units at an approximate valuation of Rs 2.34 trillion.
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
GST rates on under-construction houses maybe reduced from 12 pc with input tax credit to 5 pc without ITC. Similarly, the rate for under-construction affordable houses could come down to 3 per cent without input tax credit, from the current 8 per cent.
Which sectors will bounce back fast? Which will lag? Has the consumer changed forever? Here are some answers.
The logistics segment is becoming a hot favourite of private equity, of late.
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.
Projects in Delhi-NCR, delayed by a much as 6-7 years
Growth in credit card outstanding has been the fastest compared to other personal loan segments
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
According to experts, banks have found better arbitrage opportunities in dollar terms in mature economies with mortgage and leverage rather than take equity exposure on Indian real estate.
'Some brands only lend their names to the property and take a royalty.' 'The developer only needs to adhere to the terms and conditions of the contracts.' 'But branded apartments from Trump are particular about every small detail.'
With Sebi clearing the final guidelines for creation of Real Estate Investment Trusts (REITs), assets worth around $12 billion are likely to be listed in the next 2-3 years.
Builders bet on affordable homes as luxury sales dip, however, signs of revival after note ban and Rera are slowly visible
From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
While sale of residential properties increased only marginally despite plethora of steps taken by the government through the year, office space leasing rose 40 per cent to touch an all-time high of 46.5 million sq ft -- a trend that drew investors to lap up India's first Real Estate Investment Trust at an issue size of nearly Rs 5,000 crore.
'The government has just scratched the tip of the surface with the recent announcement. They are not realising the gravity of the situation.'
Typically, about four to six weeks ahead of the polls, activity in the property market picks up as politicians begin to pull out their money parked in real estate. But this time, it's all quiet till now in real estate so far.
Hyderabad is perhaps one of the most affordable cities among all tier 1 cities of India.
They sought further cut in interest rates as well as reforms.
Consolidation is happening because of a prolonged slowdown in residential sales which has also brought down the business of brokerages.
Leasing activities of office and retail spaces would not be affected much.
Hailing clear majority for Narendra Modi-led BJP in the polls, real estate experts on Friday said a stable government at the Centre will help revive the property market.
Realtors split on possibility of price fall, gold may replace cash in secondary deals.
The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
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