Morgan Stanley has big plans to invest in India's real estate.
The property rates in the ready reckoner for Mahrashtra may drop marginally reflecting the subdued sentiments, sources said. A final decision may be taken on Wednesday. The property ready reckoner is prepared by the office of the inspector general of registration and stamp duties on the basis of transactions in real estate sector in respective areas.
'After Covid, people started looking for bigger houses with pools and landscaped gardens.' 'Even middle class buyers are looking at plots of land in smaller towns.'
The government's Budget announcements providing tax holiday for data centres, setting up of city economic regions (CERs) and funding to improve infrastructure in Tier-II and -III cities may give an indirect boost to India's realty sector, said industry executives.
"Land is the riskiest form of speculative real estate, which is why there are huge swings in land value," said Deepak Parekh, Chairman, HDFC in a key note address at a function organised by the Federation of Indian Chambers and Industry in Mumbai on Wednesday.
According to property experts, this is the biggest plan by any developer at the moment.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
Rimi Sen: 'Even today, Salman Khan or Shah Rukh Khan rule Bollywood but the heroines who started with them are now doing supporting roles, playing sisters or even mothers. A woman's lifespan in the film industry is very short.'
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
The Enforcement Directorate (ED) has attached land parcels and other immovable assets worth over 270 crore as part of its money laundering investigation against Rajendra Lodha, former director of Lodha Developers.
The prime accused deployed a modus operandi of claiming the investment in real estate purchased in the name of third party as unsecured loan
The National Consumer Disputes Redressal Commission dismissed a flat buyer's plea for a refund from a builder facing liquidation, highlighting the challenges faced by consumers in stalled real estate projects.
The real estate sector is set to enter a progressive phase in 2015.
Leasing of retail space in shopping malls and high streets across India's top eight cities is estimated to rise 15 per cent to nearly 9 million sq ft this year on increased supply amid high demand from retailers, according to Cushman & Wakefield. The leasing of retail spaces stood at 7.8 million sq ft in 2024.
'One of the reasons I like Mumbai is because I find your prices unbelievably low,' Donald Trump declared.
Developers are entering one of the busiest construction cycles, with the top four firms planning launches worth Rs 1.13 trillion over the near to medium term, even as execution faces pressure from approval delays, labour shortages, rising costs, and contractor capacity limits across the industry.
Brookfield Asset Management will invest $1 billion to develop Asia's largest global capability centre (GCC) in Mumbai's Powai, the New York-based global alternative asset manager said in a statement on Friday. The infrastructure arm of Canada's investment firm will develop the campus across 6 acres with 2 million square feet that can be let out.
The inauguration of Noida International Airport (NIA) is set to significantly increase property values in micro-markets along the Yamuna Expressway, with projections indicating a 28 per cent rise for plots and 22 per cent for apartments over the next two years, according to Colliers.
New real estate portals like PropTiger and Commonfloor are also focusing on the secondary market in a big way.
Housing prices could drop by up to 30% over 6 to 12 months after demonetisation.
The sale of Leela Kempinski Kovalam was among the top 10 hotel deals in Asia during the past one year, shows data from the US-based research firm Real Capital Analytics.
A stable government at the Centre and its plans to set up smart cities has revived investors' interest in the country with Mumbai, Delhi and Bangalore set to emerge as hot investment destinations in 2015.
Developers based outside Mumbai are making a beeline for India's largest real estate market through redevelopment projects. These include Delhi-based DLF, Bengaluru-based Prestige Estates and Puravankara, Pune-based Kolte-Patil Developers and Vascon Engineers, and Hyderabad-based Ramky Estates.
Deepika Padukone has raised concerns about the deteriorating air quality in Mumbai, India, highlighting the impact on residents, especially children. Her comments come amid growing concerns about pollution levels in the city, which have worsened in recent years due to construction, vehicular emissions, and industrial pollution.
Urban ministry changes rule before public consultation by environment ministry
Delayed project delivery and unrealistically high real estate prices, which developers are unwilling to lower despite piled up inventories, have adversely hit the sector.
Film folk turned up in large numbers to celebrate Producer and real estate developer Anand Pandit's 62nd birthday in Mumbai over the weekend.
About Rs 2,000 crore of realty money has flown into stocks in the National Capital Region in the months after demonetisation.
The seasons in 2012 and 2013 went by with hardly any property launches, mainly due to an economic slowdown and a need to clear the backlog
High interest rates and prices mean low affordability. Also, developers have huge inventories.
'We are targeting a 2.5x to 3x increase in valuation by FY31.'
Indian realty developers are contemplating price increases for ongoing and upcoming projects to offset margin pressures caused by rising input costs and supply chain disruptions, exacerbated by the West Asia conflict. Input and labour costs have surged by 5-12%, directly impacting developer margins, especially for under-construction projects.
The real estate sector might have been caught off guard by the second wave of the Covid-19 pandemic, but large listed developers like Godrej Properties and Prestige Estates Projects soldier on undeterred. They aim to have sales bookings of Rs 10,000 crore in the next few years.
From 690,800 sq ft in 2013, the absorption by e-commerce companies in Chennai dropped to 31,150 sq ft last year.
Piramal Fund Management has emerged as the largest lender to real estate developers at a time when the sector is facing severe slowdown.
