'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock. Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country's leading large and listed developers to reduce their debt. Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate.
Indian investors have been acquiring large lots mainly for residential conversions.
Battling the virus, enduring separation from loved ones, and working extended hours became part of the job.
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
Bengaluru recorded the highest green building stock at 140 million square feet, followed by Delhi-National Capital Region at 74 msf, and Hyderabad at 72 msf for Grade A office buildings as of September 2023.
SBI set to buy residential properties of Air India in south Mumbai
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
Piramal Realty will invest Rs 3,500 crore over the next two years in four ongoing housing projects as it aims to deliver a 6 million square feet area to customers, its CEO Gaurav Sawhney said. Founded in 2012, Piramal Realty is the real estate arm of the business conglomerate Piramal Group. It is one of the leading developers with 15 million square feet of residential and commercial under development in the Mumbai Metropolitan Region (MMR).
'It is necessary to have a person at the top who can make strict decisions without hesitation. Modiji has done that.'
To give impetus to the real estate sector, Goyal proposed to extend the period of exemption from levy of tax on notional rent on unsold inventories from one year to two years.
Godrej Properties Ltd has acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai for around Rs 100 crore to develop a luxury housing project with a sales potential of Rs 500 crore. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. When contacted, Godrej Properties executive chairman Pirojsha Godrej told PTI: "The total size of the land is around 1 acre.
GIC entered Indian real estate in 2005, when it did a deal with residential developer XS Real, a Chennai-based developer
Last year, MP's Ashutosh Sharma smashed an 11-ball fifty, breaking Yuvraj Singh's record for the fastest half-century by an Indian in T20 cricket.
'This is what happens to a party when it gets trapped in the vicious circle of nepotism and dynastic politics'
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
Ishaan Real Estate is an investment company that focuses on property development projects in southern and western India.
Indian real estate developers, enjoying boom times, want your capital.
Freebies do not seem to have attracted many buyers, as both property prices and lending rates continue to remain high.
As the Left government in Kerala gears up to inaugurate a cultural centre at Travancore House, in the heart of the national capital, on August 4, the Travancore royal family has moved the central government and various local bodies in Delhi with a request to halt the same.
Listed Mumbai developers are battling higher inventory levels.
The year was 2014. A small boy in his teens stood in front of Noida's most famous cricket coach Phool Chand's office room, and there was no parent accompanying him.
The Bombay high court on Monday rued that for long illegal constructions have been mushrooming but time has now come to change the attitude that nothing will happen to such structures.
Japan's Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday. The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.
Chennai is vibrant with activity across all sectors but demand from the information technology sector was emerging as the key factor driving demand and leading to a visible increase in the real estate activity.
Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them
Wayanad will continue to support Rahul but not to the same extent as in 2019, when his margin of victory had been enormous. Articulate, to the point and speaking in fluent Malayalam, CPI's Annie Raja, had the people who gathered to see her, listening in rapt attention, notes Shyam G Menon.
These are the key proposals in the city's yet-to-be notified masterplan that breaks Delhi Development Authority's monopoly over acquisition of new land for development.
According to villagers in the region, builders have been doing the rounds of the area, trying to spot suitable locations for residential projects.
Coaches, players and fans need to be told how referees calculate stoppage time to stop the current confusion at the end of matches, Arsenal manager Arsene Wenger said on Thursday.
A group of realty players have urged the government to reduce various taxes saying that governments should play the role of facilitator to push affordable housing in the country.
Bangalore gets its very high-end and special real estate project.
Properties worth over Rs 150 crore of real estate firm Unitech Group have been attached in a money laundering case, the Enforcement Directorate (ED) said on Tuesday. The assets include a dozen of land pieces measuring a total of 48.56 acres in Gurgaon near Delhi.
Realty firm Raheja Developers on Thursday said it would construct over 17,000 residential units in next five years aiming to generate revenues of nearly Rs 4,100 crore (Rs 41 billion).
Gehlot said he was welcoming Modi to Rajasthan through his tweet as he would not be able to do so through his speech.
Channel partners have started adding more value in marketing and sales. They are increasingly acting as advisors -- sales professionals than brokers.
Aiyar in a video posted on Facebook, however, stated that she did not live in the colony represented by the RWA and that she did not receive any "notice" (letter) from it.
Home prices across the top six cities are set to jump 6-10 per cent this fiscal and 3-5 per cent in the next financial year because of a steep rise in raw material, labour and land costs, and relatively favourable demand-supply dynamics, a report said on Thursday. The report by Crisil also said large residential realtors are on course to log a robust 25 per cent sales growth in 2022-23 and 10-15 per cent in the next fiscal. The unsold inventory level is down to 2.5 years from four years pre-pandemic, and this has credit profile of the large realtors strengthening, the report said.
The shrinking sales of residential apartments have forced real estate developers in Pune to even pay the monthly home loan installments of their customers who have lost jobs due to the economic slowdown.
Iranian President Ebrahim Raisi during a call with Prime Minister Narendra Modi on Monday, urged India to use 'all its capacities' to end the Israeli actions in Gaza amid the ongoing conflict.
