For promoting a planned and healthy real estate development of colonies and apartments in big cities, union housing and urban poverty alleviation ministry has drafted a bill and invited suggestions from experts.
Govt should take steps to monetise real estate investment schemes.
Real estate is a sector which generates second highest employment and contributes approximately 5% of the GDP of the country.
It is the fastest growing sector with ever growing concerns.
Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore, according to sources. Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group. Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.
Serum Institute of India chief Adar Poonawalla will pay 138 million (about Rs 1,444 crore) for a Mayfair mansion in London in one of the city's most expensive home sales of the year
It is expected that the global real estate market will see some major improvements in the latter half of the year.
He has to appear before the court on January 24, 2019.
Though the developments are positive, analysts say the benefits will accrue only in the long run
The Maoists have warned that if the government does not stop unfairly targeting them and charging false cases against them, what happened in Kochi at the Jehovah's Witnesses convention can be expected during the 'Hamas rally of fake comrades' in the district, an official said.
The affected lawyers, once considered an 'elite group' among their peers across courts in the state during the peak period of the real estate boom are no longer the envy of their fraternity. Noted civil advocate C Ravindran said four years back, a lawyer used to charge clients who wished to register land, about one per cent of the total land value.
It's all eyes on the consumer durables sector during the festival season after a weak Q1FY24 and Q2FY24 was impacted by an erratic monsoon. Traditionally, this period sees the highest number of purchases. Dealers and manufacturers are complaining about low business-to-consumer (B2C) off-take during the first half.
Land aggregators now want to sell to large corporations because their payment is guaranteed.
Real estate sector cheers reforms in the Budget.
Cash-strapped real estate firms are resorting to short-term borrowings of funds to complete ongoing projects as the economic slowdown has virtually halted demand for properties, freezing cash flows.
Prices of luxury properties appreciated by 8-12 per cent during the last year across major cities and has breached the 2015 peak level, according to India Sotheby's International Realty. In its annual 'Luxury Outlook Survey 2023', India Sotheby's International Realty (ISIR) revealed that 61 per cent of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) are looking to buy luxury real estate during 2023-24. The sample size of the survey is more than 500 HNIs and UHNIs.
During the past 30 days, prices of medium residential apartments rose by Rs 300-500 per square feet across various nodes in the city. The present prices range at Rs 2,500-3,000 per square foot across nodes like Kamothe, Panvel, Kharghar, Khandeshwar and CDB Belapur, said Srikanth Puduval, a real estate agent.
In the second part of this series that identifies fastest emerging real estate hotspots in India, Estatelister.com explains why Kharadi, close to Pune Airport in Maharashtra, is emerging as a new investment hub.
Traditionally, real estate has been the major investment avenue across the world. The trend is not due for a change as the capital appreciation is good. However there are some points to be thought about.
PE funds have invested Rs 13,000 cr into the property market in Bengaluru.
'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
The new law would boost home buyer confidence as well as investment in the realty sector.
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