The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
BJP has demanded a regulator for real estate sector to safeguard common man, in the upcoming Budget.
The real estate sector in Maharashtra foresees a loss of Rs 2,000 crore (Rs 20 billion) due to the ban on extraction of sand by the Bombay High Court. The realty industry has sought the intervention of the state government to tackle the crisis.
By avoiding some common mistakes you can be in command of your real estate investments.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
Asian Granito India IPO is attractively priced and could bring listing gains.
The cement industry says the move will have a marginal impact as the government had allowed export of cement from ports in Gujarat on May 27. The government had also allowed export of the construction material to land-locked Nepal, which depends on India for its supplies.
'Today, there is no easy money to be made after the run-up in equities.'
India's economy grew 7.8 per cent in the March quarter, pushing up the annual growth rate to 8.2 per cent, according to official data released on Friday. Growth in the January-March period was lower than the 8.6 per cent expansion in the December quarter.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
The devil is in the detail for the real estate sector. Though the Budget gave sops to home buyers in the form of tax savings and interest rate subvention, it quietly brought back service tax on lease rentals in the Finance Bill.
Among the cities that have fully implemented their projects are Agra, Varanasi, Madurai, Coimbatore, Udaipur, Pune, Surat, and Vadodara
If you have the fund resources to tap into, then go in for that dream home now, as putting it off for later could mean parting with more money.
The company is offering three types of flats. A one-room flat with a small kitchen in an area of 283 square feet, a one-room flat with a large kitchen in an area of 360 square feet and a one-bed room flat with a hall and kitchen in an area of 465 square feet.
Buoyed by the recovery in the real estate sector, realty giant DLF on Thursday said it will hire people to sustain growth of the company.
Leading real estate sector players attribute the impending fall to rise in interest rates, escalation of cost, credit squeeze by banks, bearish capital market and weak sentiments globally leading to poor offtake of properties. Indiareit Fund Advisors manages a total of $450 million domestic and offshore funds.
The exit of WeWork from its India unit is unlikely to have an impact on the country's co-working real estate market, according to industry executives. The company last week received approval from the Competition Commission of India (CCI) to sell its entire 27.5 per cent stake in the India unit to Real Trustee Advisory Company. The majority of the stake (72.5 per cent) in WeWork India is owned by Bengaluru-based Embassy Group.
'Over the next 12 months, it will be difficult to make 15 to 20 per cent return in the markets as the valuations appear stretched.'
The commercial real estate sector has been booming in the last few years, driven by the high demand from corporates, especially IT and ITeS companies.
The prices are used to charge stamp duty and are calculated on the basis on trends in the property market. They are published by the state government on January 1 every year. This year, for the first time in eight years, the state government did not propose any change in the rates taking into consideration the downward trend in property prices.
The Indian equity market is likely to see one of its worst phases, with most sectors expected to report a decline in earnings or single-digit earnings growth in Q4 FY'09, a leading broking firm said in its report.
Speculation high because of low number of end-users, says study.
Housing Development Infrastructure Ltd (HDIL) on Monday said a 20-25 per cent price fall is likely in the country's real estate sector, but Mumbai may be slightly insulated as it may witness a 10-15 price correction in prices.
Ahmedabad looks like a big construction site today -- what with malls, flyovers, roads, residential townships, a waterfront development plan, and office spaces that are fast changing the city's landscape.
Bullish on the Indian market, US-based integrated services provider Nelson, which will launch its India operations later this month, is looking for inorganic growth in the country to expand its reach.
RBI, in its first bi-monthly monetary policy statement, left the short-term lending rate, or repo rate, unchanged at 8 per cent and the cash reserve ratio static at 4 per cent.
Global rating agency Fitch on Thursday affirmed India's 'BBB-' rating with a stable outlook on strong growth outlook and fiscal credibility. Fitch said India is set to remain among the fastest-growing sovereigns globally with GDP growth of 7.2 per cent in the current fiscal year and 6.5 per cent in FY26, down from 8.2 per cent in FY24. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," the global rating agency said in a statement.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
Unseasonal rains watered down the performance of consumer durables companies as temperatures cooled, impacting the sales of refrigerators and air conditioners (ACs) in the 2023-24 (FY24) April-June quarter. Centrum says in its report on the sector that the trade channel indicates a 25-30 per cent year-on-year (YoY) decline in sales of refrigerators and ACs in April and May due to restricted buying. "While some green shoots in demand were visible in June, overall growth for the quarter is likely to remain at a negative 10-12 per cent," observes the brokerage.
For the last two years, the home loan borrower has been facing the brunt of high interest rates
To begin with, Dawnay Day has entered into a joint venture with a Bangalore-based family to develop a mixed property development including office and retail on 16 acres with an investment of Rs 400 crore.
The market for medium price segment flats, in the price band of Rs 40 lakh (Rs 4 million) to Rs 90 lakh (Rs 9 million), is tapering off in the major suburbs of Mumbai.
Banking and real estate stocks rise up to 5% on further rate-cut hope.
CREDAI Chairman Lalit Jain said a long term status quo on interest rates would not help prospective home buyers.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
At least 50,000 units of new residential property are set to come up over the next three years
Housing sales across seven major cities in the country fell 35 per cent year-on-year to 50,983 units during the July-September period even as the demand recovered post lockdown, according to data analytics firm PropEquity. Sales stood at 78,472 units in the year-ago period in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
