'When you are a pioneer and someone who's put on a pedestal, but then the pedestal gets dusty, people don't look at the statue anymore.' 'They would say, 'Yes, yes, of course I know Bimal Roy. He made Do Bigha Zamin.'.'
New supply of office space across seven major cities fell 4 per cent annually in the July-September quarter to 12.8 million square feet while gross leasing of prime workspace rose 17 per cent, according to Vestian. In its report released on Wednesday, real estate consultant Vestian said the fresh supply of office space in Hyderabad declined 25 per cent in the July-September quarter to 4.10 million square feet.
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
Indian real estate market remained buoyant in January-June this year, with housing sales hitting an 11-year high at 1.73 lakh units and office demand at a record 34.7 million square feet across eight major cities, according to Knight Frank. On an annual basis, housing sales rose 11 per cent to 173,241 units while leasing of office space grew 33 per cent to 34.7 million square feet during January-June this year across eight major cities. Shishir Baijal, chairman and managing director, Knight Frank India, said, "India's real estate market has been buoyant in the last few quarters owing to the strong economic fundamentals and stable socio-political conditions."
Housing sales declined 5 per cent in the July-September quarter across the top eight cities due to a fall in new supply and sharp appreciation in prices, according to PropTiger. Real estate brokerage platform PropTiger.com, which is part of Australia's REA group that owns Housing.com, on Tuesday, released its report 'Real Insight' on India's residential market. A total of 96,544 units were sold in July-September, down 5 per cent from 1,01,221 units sold during the same period in 2023.
Can a culture survive as a way of life, even as the language and writing at its core, alter with time? Can we be rational and Malayalee or do we have to necessarily be religious and proudly cultural to be Malayalee? asks Shyam G Menon.
The size of the scam is about Rs 15,000 crore, as per the first information report (FIR) registered by the police in the case.
This shift is driven by a pursuit of a superior lifestyle and an innate desire to be grounded in an owned plot of land. Villas, situated within gated housing societies, have gained popularity as a property type, witnessing strong traction due to elevated aspirations and the need for more living space.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
'The Indian retail landscape is poised for a significant shift with the anticipated arrival of several prominent international luxury fashion brands in 2024.'
Realtor Godrej Properties Limited (GPL) is present in top real estate markets such as Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Pune, and Bengaluru. In the financial year 2024-25 (FY25), NCR contributed 36 per cent, Bengaluru 17 per cent, and MMR 27 per cent to revenues with the rest 20 per cent coming from Pune, Hyderabad, etc.
Income tax officials descended on premises linked to actor Sonu Sood in Mumbai and other places on Wednesday in connection with an alleged tax evasion probe, official sources said.
Soaring real estate prices are leaving a big hole in expatriates' pockets too, with Mumbai being ranked as the costliest city in India for them.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
Donald Trump Jr visited Pune for a business meeting with Panchshil Realty in Pune on Tuesday, December 13, 2022.
Real estate developers are banking high on ultra-luxury projects.
The real estate sector is back in news. Property prices have been on a sharp rise since the last three quarters as there has been an upswing in the economic growth of the country.
Mumbai's property markets, where prices earlier crossed Rs 1 lakh per sq. ft in South Mumbai, are seeing a 20-25 per cent markdown from last year's levels.
However, Bengaluru is on a high with the share of IT/ITeS in the total office space transaction rising from 55 per cent in 2011 to 75 per cent till May 2012, according to data by DTZ, an international real estate research firm.
Swedish furnishing major IKEA, part of the Ingka Group, is inviting its investment arm - Ingka Investments - to India, a senior company executive said during an interaction in New Delhi. The move suggests that the group is looking at India as a priority market. The areas of investments being considered by Ingka Investments could range from taking stake in companies across sectors such as renewables, recycling, real estate, and software which synergise with IKEA's broader retail requirements.
'Marginal rates will definitely affect the consumer's decision in entering a new transaction, but in reality, they don't affect much because banks/financial institutions have come up with step-up EMIs: 50% of home loans which exceed 15 years in India are prepaid, within 7-8 years.' 'This doesn't happen anywhere in the world.'
Rising interest rates may see customers postpone purchases.
The booming real estate markets in the National Capital Region, Mumbai and Bangalore registered the highest global yields in 2003, according to the latest updates by Chesterton Meghraj, a global real estate consulting group.
Land costs constitute 50 to 60 per cent of a project's overall costs.
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
The stock of mall developer and commercial real estate major, The Phoenix Mills (Phoenix), is up 26 per cent since its business update in the third week of January. The gains came on strong December quarter performance and the consumption boost in the Budget which is expected to help the company sustain its growth trends.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
Built in 1974, the building could fetch anywhere between Rs 1,000 crore to Rs 1,500 crore, based on current real estate prices
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
He says the actor failed to pay him brokerage on a flat.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
The ED conducted multiple searches in Mumbai as part of a money laundering probe into the operations of the underworld and linked illegal property deals and hawala transactions, official sources said.
The French coach, who took over Real Madrid following Rafael Benitez's sacking in January is in the city to promote a Mumbai-based real estate brand Kanakia Group, known for its themed residences.
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.
Housing sales hit an all-time high this year to nearly 3.65 lakh units across seven major cities, beating the previous high of 2014, on strong demand for residential properties despite a hike in mortgage rates, according to Anarock. The prices of residential properties have risen in the range of 4-7 per cent primarily due to an increase in the input costs and demand comeback post-COVID, it said. Releasing the demand-supply data of India's top residential primary (fresh sale) markets, property consultant Anarock said that the housing sales rose 54 per cent this year to 364,900 units as against 236,500 units in 2021 across the seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
