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Indian office real estate supply is expected to cross 100 million sq ft in a year to cater huge IT and IT-enabled services requirements.
The bench, headed by Justice Patil, however, allowed a significant leeway for the developers in the judgment by permitting the state-level RERA Authority and the Appellate Tribunal to consider delays on a case-to-case basis, and not to cancel such projects or developers' registration in cases where the delay was caused due to "exceptional and compelling circumstances."
It recorded the third highest growth in investments
With Muthappa Rai's death ended a life that highlighted the dark side of Bengaluru's often delirious growth to become India's IT capital
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
'This is not only a fight against corruption and black money, this is also a fight against terrorism and counterfeit currencies.'
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).
In order to tap the booming construction sector, Europe's leading infrastructure group, Strabag SE, has joined hands with Indiabulls Real Estate Ltd for working on large development projects in the country.
According to EY's private equity deal tracker, Brookfield-Reliance Jio's $ 3.7 billion deal is the largest ever PE/VC deal in India, surpassing the $ 2.5 billion investment made by Softbank in Flipkart in 2017.
Income from renting of properties is taxed at a flat rate of 10%.
Housing sales are likely to be hit, especially in affordable and mid-income categories, following the RBI's decision to hike repo rate, according to real estate developers and consultants. However, the impact of RBI's decision to raise the benchmark lending rate by 50 basis points to 5.40 per cent is expected to be for a short term, they added. This is the third consecutive rate hike after a 40 basis points and 50 basis points increase in May and June, respectively.
Private equity and venture capital funds' investment in the country continued to fall in May, with the overall values declining by nearly 44 per cent to $3.5 billion, a report said on Monday. The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively, as per the report by industry lobby IVCA and consultancy firm EY. "Despite a recovery of sorts being seen in tech sector indices and some of the large global tech names, sentiment in India for tech sector investments has been lacklustre, and fundraising by Indian startups has been sluggish," the firm's partner Vivek Soni said.
Britain's wealthiest family, the Hindujas, have said they were 'appalled' by a Swiss court's ruling of jail terms for some members and have filed an appeal in a higher court challenging the verdict finding them guilty of exploiting vulnerable domestic workers from India at their villa in Geneva.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
For loan amounts lesser then Rs 25 lakhs, the interest rate should be lower and should scale up as the loan amount goes higher.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
The move is likely to help 4.59 lakh housing units across the country.
Bharti Enterprises, which has announced join ventures with US giant Wal-Mart for its retail foray, said that the rising real estate prices could hamper the growth of the organised retail industry in the country.
It also named bosses for Bank of India, IDBI Bank Ltd and Punjab National Bank from within the state sector
Between April and September 2014, the central govt released Rs 13,618 cr to states, against Rs 24,676 cr in the same period last year.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
Indian cities have slipped to the bottom of the investment destinations list.
And income tax exemption to be increased to Rs 3lakhs.
An early stage venture capital fund recently raised a Rs 100 crore (Rs 1 billion) Mauritius-based fund to invest in Indian real estate and plans to raise a similar fund later this year.
Demand for special economic zones (SEZs) appears to be reviving even as realty developers are shying away from developing these tax-free enclaves due to liquidity crunch, according to experts who are tracking SEZs.
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.
Demonetisation will wipe out the likely benefits of a good monsoon this year, says Christopher Wood of CLSA.
The office space absorption in seven cities, Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune, rose 14 per cent during the July-September quarter compared with the year-ago period.
As part of Budget 2013-14 proposals, it is considering widening the scope of source-based taxation to more areas to improve reporting mechanism for transactions.
He is the man behind Blackstone's India strategy
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
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Riding high on improved market sentiment, especially after the Narendra Modi government took charge in late May, more and more investors are going for real estate compared to stocks and gold, according to a survey.
The maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
Whether it is DLF in the National Capital Region, or Godrej Properties and Oberoi Realty in Mumbai or Sunteck Realty, Prestige Estates and Sobha Realty in Bengaluru, most top players have launched or lined up a slew of new project launches during this season.
The past eight months have seen vast improvement in the Indian economy, says Edelweiss Group chairman and chief executive Rashesh Shah, who feels domestic-oriented sectors are likely to do better.
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
About 40 per cent of respondents felt fraud had gone up in India, while 67 per cent said the new Act would improve governance.
