However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
The elevated realty prices along with non-transparency in the real estate sector may lead to an 'asset bubble' and pose risks to the banking system, according to Reserve Bank of India Deputy Governor Rakesh Mohan.
India's booming real estate sector has more than doubled the number of billionaires from this space in just 12 months, with DLF's Kushal Pal Singh emerging "the world's richest real estate developer." Among 54 Indian billionaires identified by Forbes magazine, there are seven real estate developers with a net worth of over a billion dollar each.
Good range of properties, stable prices, makes the city perform better than peers.
The Reserve Bank of India's decision to up commercial real estate property loan provision of banks may force the lenders to hike lending rates to the sector in the near term, said bankers.
The Securities and Exchange Board of India (Sebi) on Wednesday announced a slew of measures to ease the compliance burden in the stock markets ecosystem, encourage more companies to list on the bourses after reverse flipping to India, and facilitate greater foreign fund flows into government bonds.
Equity benchmark Sensex on Thursday plunged about 965 points to crash below the 80,000 level due to heavy selling in global equities after the US Federal Reserve signalled fewer rate cuts next year. Besides, deep losses in consumer durables, banking and IT stocks amid foreign fund outflows added to the gloom, analysts said.
India's real estate sector, many fear, is unstable.
Assocham has predicted that global PE firms are likely to invest $48 billion in the Indian markets in the next two years.
Real estate prices in Hyderabad have fallen by 20-30 per cent, while those in Visakhapatnam have risen in the same range. The real estate sector in Andhra Pradesh is stabilising. The Telangana agitation over the last one year has seen real estate prices dipping in Hyderabad and soaring in coastal Andhra. Gradually, prices in both areas have settled.
Non-Resident Indians (NRIs) are one of the key contributors to the growth of the real estate industry and considering the immense potential in India, they are likely to step-up the investment in future.
'The demand for housing is always increasing, and so is housing shortage.'
Real estate companies have asked the government to give them infrastructure status that will enable them to access cheaper money raising options. Does the speculative sector deserve this?
As Damascus teetered, Assad's aide orchestrated a shadowy airlift, spiriting millions and secrets to Russia, paving his own escape route.
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
India's economic growth rate decelerated to 6.2 per cent in the October-December quarter this fiscal, mainly due to poor performance by mining, manufacturing and all other sectors, with the exception of agriculture. However, on a sequential basis, the economic growth rate in the third quarter showed improvement over 5.6 per cent recorded in the second quarter.
Hit by slackening demand amid economic slowdown and high interest rates, the real estate sector has asked for infrastructure status for the housing sector in the Budget for 2013-14, which would help it avail of tax benefits and easier flow of credit.
The e-commerce sector's usage of commercial spaces was about 4.2 million square feet of the total of 17.5 million sq ft consumed in the first half of 2015.
The income tax department on Wednesday issued FAQs on changes in the capital gains tax saying the idea behind it was to simplify the tax structure and promote ease of compliance. The holding period for various asset classes for the purpose of short- and long-term capital gains tax has been rationalised. The holding period of all listed assets will be now one year for the purpose of long-term capital gains tax (LTCG).
Sensing a correction in the real estate sector, commercial banks have become selective in lending to new residential and commercial real estate projects.
'The overall market cycle is very positive.'
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
Seek easing of asset classification guidelines for better credit flow.
Mortgage lender HDFC on Wednesday said it has approved the highest ever retail home loans of over Rs 2 lakh crore in 2021-22. The demand for these loans was from across the country, HDFC said in a statement. HDFC managing director Renu Sud Karnad said, "In over four and half decades, I have not seen a better time for the housing sector than now due to lower interest rates, stable property prices, government's thrust on affordable housing, improved affordability, favourable demographics, increasing urbanisation and rising aspirations." The residential real estate segment will continue to see strong traction going forward, as the demand for housing is not just pent up demand but is a structural one, she said.
The GST Council had given the option to real estate companies to either opt for old rates of 12% (for residential) and 8 per cent (affordable housing) with ITC benefits or the new tax rates of 5% for residential units and 1% for affordable housing without the benefit of adjusting the credit on inputs used during construction.
Dubai is positioning itself as a springboard for Indian companies looking to tap into fast-growing emerging markets, including Africa, banking on low tariffs, long-standing trade relations, and a shared vision for regional economic growth, said Mohammad Ali Rashid Lootah, president and chief executive officer, Dubai Chambers, at the Dubai-India Business Forum in Mumbai.
Despite the recent turmoil in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American private equity major Blackstone is "bullish" on the India growth story and plans to invest more in the country's infrastructure and real estate projects. "We have a long-term view on India, as growth will be higher here. We have invested half of our Asia exposure in India. "Our extraordinary performance in India has made us bullish," said Jonathan Gray, president and chief operating officer of Blackstone.
In order to promote the housing sector, Reserve Bank of India on Friday decided to rationalise risk weightage on housing loans, making the product attractive for both borrowers and lenders. With revision in the risk weightage, the requirement of capital provision for banks will come down. This will encourage banks to push housing loan products with attractive features.
Havells India, the country's largest listed consumer electrical company, reported a mixed performance in the 2024-25 (FY25) October-December quarter (Q3). While the top line benefited from festival demand, lower margins impacted operational performance.
'Expect India to keep doing well irrespective of geopolitics.'
The education programme, to be organised at Hyderabad on June 17 to 20, 2008 in association with HBS India Research Center, would be addressed by HBS faculty and it is designed for senior executives of the real estate industry. During the programme, participants would examine critical issues important to leadership in South Asia's rapidly changing real estate environment. Topics, including project and corporate finance, development and leadership, would be explored.
L&T is planning a foray in PE fund in the real estate market with a Rs 4500 crore fund.
Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the Covid pandemic with gross leasing witnessing a 3 per cent fall, according to Knight Frank India. Housing sales increased to 232,903 units during last year, from 154,534 units in 2020, but demand was down 5 per cent from the 2019 pre-pandemic levels and 37 per cent lower than the 2011 peak numbers. In the office segment, the gross leasing of office space fell to 38.1 million square feet in 2021, from 39.4 million square feet in the previous year, due to the adverse impact of the second wave of the Covid pandemic.
Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around $500 million (about Rs 4,000 crore), sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet of area valued at around $3 billion. As per the sources, Nexus Select Trust has on Thursday filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of the 2023 calendar year.
DLF, a Delhi-based integrated real estate development company, as part of its strategy for the Bangalore real estate market has lined up two integrated townships worth altogether Rs 400 crore (Rs 4 billion).
It is expected to bring transparency and reinstate consumer faith in the industry, says Brotin Banerjee.
Alternative investment funds (AIFs) have crossed Rs 5 trillion in terms of funds raised, while the investment commitments have surpassed Rs 12 trillion for the first time as of September, according to data released by the Securities and Exchange Board of India (Sebi).
