Stressing on the need to build quality, safe and affordable houses for all, Gujarat Chief Minister Vijay Rupani has termed “affordable housing” as an essential requirement in the time to come. “The state government approved 100 town planning schemes in 2018. 400 TP...
Private equity giant Blackstone Group has signed up with listed developer Indiabulls Real Estate Ltd to buy up to 50% stake in two commercial properties in Gurugram. In a stock-exchange filing, Indiabulls Real Estate said that it was parting with the stake at a...
Essex India, a Hyderabad-based prop-tech company aiming to disrupt home-buying and selling process in the residential real estate market, plans to expand its operations to four cities in the next six months. Essex, incubated out of Way2online, leading marketing...
The notification for land acquisition for the new Pune airport in Purandar is not expected anytime soon, Maharashtra Airport Development Company Limited (MADC) has said. Chief Minister Devendra Fadnavis had earlier stated that the land acquisition for the project...
The Greater Noida Industrial Development Authority has approved the extension of phase 2 metro connectivity from Noida Sector 71 to Knowledge Park 5 in Greater Noida. The alignment will consist of total 9 stations with a project cost of Rs 2602 crores, Times of India...
The construction of the Noida International Airport at Jewar will be done on a public-private-partnership (PPP) mode, officials have said. A government order has been issued by the Civil Aviation Department after a nod from the state cabinet. At a cabinet meeting, it...
The Bangalore Metro Rail Corporation (BMRCL) is exploring new ways of earning additional revenue from the 72-km second phase of Namma Metro project being constructed at a cost of Rs 32,000 crore. “There is potential to exploit space in the depots for commercial...
After successfully launching Kaveri — the online portal for property registration and other services — the Karnataka government has started work for the second phase aimed at making sub-registrar offices paperless. The revenue department has taken up the project to...
The total wealth of top 100 real estate barons in India rose 27% from a year ago to Rs 236,610 crore or $32.7 billion in 2018. In 2017, the cumulative wealth stood at Rs 186,700 crore or $ 28.6 billion, reports say. Lodha Group’s Mangal Prabhat Lodha ranked at top...
Although property prices have corrected 10-15% in certain pockets of Mumbai, it is still one of the most expensive cities in terms of real estate prices, as a majority of the apartments cost at least ₹1 crore. However, given the slow sales and most buyers looking for...
India’s central government wants the Reserve Bank of India’s help in increasing credit to the commercial real estate sector. The current liquidity crunch among Non-Banking Financial Companies (NBFCs) has hurt the real estate sector as developers have relied on them...
Debt-ridden national carrier Air India has called for bids to sell the iconic 23-storey Air India Building located at Nariman Point in Mumbai, reports IANS. The bids have been invited by Dec 31, 2018 from state-run companies for the sale of the building and for the...
India’s commercial realty data information and analytics firm Propstack is collaborating with Wharton School of Pennsylvania University to explore new data technologies. The alliance’s initial focus will be on commercial real estate, developer mortgages and...
India’s retail real estate sector is witnessing growing investments by leading private equity funds and institutional investors against the backdrop of policy changes, growing consumer demand, stable economic and political environment, and quality retail real estate...
Demand for working office space is on the rise across Indian cities, an area where real estate investment is picking up. Emerging Trends in Real Estate Asia Pacific 2019, a real estate forecast jointly published by the Urban Land Institute (ULI) and Pricewaterhouse...
Realty major Lodha Developers sold properties worth about Rs 42 billion in the first half of this fiscal and its sales may cross Rs 90 billion in 2018-19 on improved demand for affordable and mid-income housing, a top company official said. Lodha Developers has...
The Mumbai Development Control and Promotion Regulations 2034 (DCPR) initiated on November 13 has come into force after the government sanctioned the Excluded Part (EP) of the plan, reports say. The Mumbai’s DCPR 2034 has been implemented in two phases – the first...
A real estate company that defaulted on its promises to deliver on their promises to house buyers saw their properties worth Rs 32 crores confiscated in Noida. This action has come closely on the heels of two other high-profile default cases involving property...
The first quarter of 2018 has witnessed a 23% year-on-year increase in office space demand, with pan-India absorption recorded at 11.4 million sq ft of, ET Realty reported. With the intensifying office demand, the rental values have also increased in several active...
Housing prices rose in 39 cities during January-March, according to the National Housing Bank’s housing price index NHB RESIDEX. It showed that the highest price growth of 9.4% recorded was in Lucknow during the quarter ended March. It showed that for...
Indian office property market clocked the highest half-yearly leasing transaction volume in six years with 21 million sq ft of space leased across seven major cities in the country in the first half of 2018. The segment showed a robust growth at 13% on-year, said a ...
Realty major Vatika group has announced that it will invest about Rs 8,000 crore to develop a 224-acre township project in Gurugram over the next seven years. It plans to develop 15,000 housing units and 6.5 million sq ft of commercial space in this township project...
Delhi-based real estate developer DLF is reported to be looking for a partner to build new commercial projects on its Rs 1,600 crore land in Gurugram. The realty major is in talks with private equity players to raise funds for developing commercial property on 11.76...
Investment in Indian real estate is a lucrative option as against other asset classes, according to Dr Niranjan Hiranandani, President of the National Real Estate Development Council. Sound regulatory environment, increased transparency and accountability as well as...
There is a rush among Mumbi-based builders to complete projects while customers are preferring to pick up property in the affordable categories. Mumbai-based Wadhwa Group had received occupation certificates (OC) for six projects in the last 18 months. Construction...
Bharti Realty, the real estate arm of Bharti Enterprises, is looking to expand its presence in Delhi and Gurugram markets. It is reported to be in talks with land owners as well as other developers for joint ventures to build new projects worth over Rs 1,000 crore...
Realty developer Wadhwa Group is eyeing revenues Rs 4,000 crores from the first phase of its 450-acre integrated township project under the Navi Mumbai Airport Influence Notified Area (NAINA) in Panvel near Mumbai. This is the first integrated project to be developed...
Realty firm Saha Group will invest about Rs 160 crore in the construction of its new housing project in Noida on 6.25 acre land on Noida Expressway that the company bought from another real estate firm Logix, reports PTI. It would construct 480 units in its project...
Piramal Capital & Housing Finance (PCHFL), the wholly-owned subsidiary of Piramal Enterprises, plans to expand its housing finance business in Gujarat in the next 6-8 months. A company press release said it has recently entered Ahmedabad and plans to expand its...
While the government is pushing forward the agenda of housing for all by 2022, official sources say tens of thousands of low-cost homes are lying empty across India. Reuters quoting an official said about 164,000 low-cost homes built under previous schemes are...
Housing prices across India’s 39 cities have shown signs of recovery with highest price growth of 9.4% recorded in Lucknow during the quarter ended March, figures released by the National Housing Bank (NHB). NHB’s Housing Price Index (HPI) for under-construction...
Realty major DLF and Singapore's sovereign wealth fund GIC will invest about Rs 1,250 crores over the next four years to construct a housing project in the national capital. In September 2015, the GIC had invested Rs 2,000 crores to buy 50 per cent stake in DLF's two...
Over 4.65 lakh housing projects are delayed across India with a value Rs 3.3 lakh crores or over $47 billion. However , the National Real Estate Development Council (Naredco) and the Confederation of Real Estate Developers Association (CREDAI) did not agree with these...
Billionaire Anil Ambani has announced that the cash-strapped Reliance Communications will be completely exiting the telecom business to concentrate on real estate in future. The first priority for RCom, which is credited for democratising telecom services through...
Realty developer Arihant Superstructures, through its subsidiary Arihant Abode, has received a sanction of construction finance worth Rs 250 crore from the Housing Development Finance Corporation. The funds are being raised for the company’s flagship housing project...
Amrapali has told the Supreme Court that it is in talks with the National Buildings Construction Corporation (NBCC) to take over and complete it’s under construction projects. The statement comes after a committee was set up by the Uttar Pradesh government, which...
In Mumbai, the suburban region of Goregaon East is emerging as a favourite among home buyers, say reports. There are many options before buyers, but the rising demand is also pushing up prices steadily. Located between top residential areas of Andheri and Borivali,...
Union Housing and Urban Ministry has said the government has sanctioned 2,15,083 more housing units taking the total number of houses being funded under the PMAY(U) across the country at 62,53,731. Under the Pradhan Mantri Awas Yojna (Urban) the government plans to...
A group of alumni of the Indian Institute of Technology, Madras (IIT-M) and the faculty of Civil Engineering have come together to launch India's first 3D printing construction technology. The company that is collaborating with IIT-M in this venture is Tvasta...
A report by Mumbai-based real estate rating and research firm LiasesForas says that at the end of first quarter of financial year 2018-19, there were 945,964 unsold units in eight tier-I cities including Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai...
Uttar Pradesh Chief Minister Yogi Adityanath has been pursuing builders in Noida to adhere to regulations and deliver their projects to home buyers on time. He has also warned of tough action against the laggards. The Greater Noida Industrial Development Authority...
International rating agency Fitch has affirmed builder Lodha Developers’ Long-Term Issuer Default Rating at 'B'. The Outlook is Stable, reports financial newspapers. The agency has also affirmed the rating on the outstanding $325 million 12% senior unsecured notes...
Ananandam Estate is coming up at Daruhera, one of the biggest industrial zones of northern india, just 50 kms from national capital region. Promoted by MGHousing Pvt. Ltd, the intergrated township is emerging as a cosmopolitan cluster and a prime choice for...
Tiger Global-backed online classifieds portal Quikr has announced that their new entity QuikrRealty expects Rs100 billion worth sale, but refused to give the timeline for achieving it. “As a single entity, we did about Rs25 billion of sale in its value last year, and...
Global alternative asset manager Apollo Global Management LlC has sold its investment in Logix Group’s projects in Noida back to the promoters, marking its first exit from a real estate project since it started investing in the sector on its own in 2016. The company...
A subsidiary of DLF Home Developers Ltd, which is a unit of India’s largest real estate firm DLF Ltd, placed a winning bid of Rs14.96 billion for an 11.76-acre land parcel in Udyog Vihar, Gurugram, in an auction conducted by the Haryana State Industrial and...
Banks reach deal to sell SRS Ltd’s retail, realty business to recover loans Focus keywords: bank lenders, real estate Story: Lenders to SRS Ltd have reached an agreement with its promoters to sell the Faridabad-based company’s retail and real estate businesses to...
Naaman Atallah, formerly CEO of Dubai Properties and who ha been heading a portfolio of 144 projects worth $30 billion that included residential, commercial, retail and hospitality developments, has been appointed CEO of Piramal Group’s real estate firm Piramal...
Oberoi Realty, India’s second largest builder by market value, plans to list commercial assets on a Real Estate Investment Trust (REIT) and expects to generate rental revenues of around Rs 10 billion. In 2016-17, it generated a revenue of Rs3.20 billion from its...
Mumbai, the country’s hottest property market, now ranks 16th among the top 20 costliest cities in the world. A budget of $1 million can help you buy little less than 1,000 sq ft in few coveted localities of the country’s commercial capital. With that amount, one can...