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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...
Blackstone to pick up stake in two Indiabulls office assets
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 to expand operations to more cities
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...
Notification to acquire land for Pune airport not expected soon: MADC
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...
GNIDA approves extension of Greater Noida phase-II metro
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...
Jewar airport to be built on PPP mode
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...
BMRC looks for commercial use in Bengaluru metro phase II
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...
Sub-registrar offices in Karnataka will go digital
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...
Wealth of top 100 Indian realtors hits Rs 2,36,610 crore, up 27%
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...
Property prices in Mumbai getting dearer
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...
Government wants RBI to help boost credit
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...
Air India calls bids to sell Nariman Point building
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...
Wharton School collaborate to analyse Indian real estate market
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Private equity funds invest in India realty
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Rise in demand for working office space
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...
Lodha Developers report sterling results
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...
New land parcels in Mumbai after amended rules
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...
Crackdown on defaulting housing companies
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...
23% year-on-year increase in office space demand
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 in 39 cities rise
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...
Leasing transaction tops highest in H1
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 ...
Vatika to invest 8k crores in Gurugram township project
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...
DLF’s new projects in Gurugram
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...
Real estate, NRIs, transparency, subvention
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...
Mumbai builders in race to complete housing projects
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 to expand to NCR mulls JVs
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...
Wadhwa eyes Rs 4,000 crores revenue from NAINA township
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...
Saha Group to invest Rs 160 crore in Noida
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...