Properties

The government is moving to monetise over 12,000 such properties across the country

Nearly 45 per cent of Indian respondents plan to move into a new home over the next two years and most of them, including millennials, want to purchase residential properties instead of renting, according to a survey. Based on the survey, property consultant CBRE India released a report 'Voices from India: How will people live, work and shop in the future?'. The sample size of the global survey was more than 20,000 people, of which 1,500 were from India across age groups -- Gen Z (Age 18-25), Late Millennials (Age 26-33), Early Millennials (Age 34-41), Gen X (Age 42-57) and Baby Boomers (Age 58+). The survey found that respondents display a stronger intention to move to a new home in the next two years (44 per cent as against 31 per cent in the previous two years). This is significantly higher when compared to both global and Asia Pacific (APAC) respondents. "Gen Z led the preference towards moving to a new home in the next two years, compared to only 29 per cent of baby boomers. T

Registration of properties in Mumbai city rose 7 per cent year-on-year during this month to 8,694 units on better demand, according to Knight Frank India. Property consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) saw property sales registration of 8,694 units in January 2023, contributing over Rs 658 crore to the state revenues. The registration figure is till 12 noon and will increase slightly by end of the day. Of the total properties registered, 84 per cent were residential while 16 per cent were non-residential properties. The data pertains to transactions in both primary (fresh sales) and secondary (re-sale) markets of all types of properties -- residential, commercial and others. However, the registration of properties fell 7 per cent in January when compared to December, which saw 9,367 units registration. Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "Despite strong headwinds consumer inclination toward home purc

Markets regulator Sebi on Wednesday said it will auction the properties of four companies, including Infinity Realcon and Sumangal Industries, on January 10 to recover money that was illegally raised by them from investors. Other two firms, whose properties will go under the hammer are GSHP Realtech Ltd and Infocare Infra Ltd, the Securities and Exchange Board of India (Sebi) said in a notice. A total of 25 properties of the four companies will be auctioned at a reserve price totalling Rs 12.2 crore, it noted. Of these properties, 16 belongs to Infinity Realcon, five relates to Sumangal Industries and two each to GSHP Realtech and Infocare Infra. These properties include land parcels, plots, single storied buildings and a flat located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the four firms and their promoters or directors, Sebi said the auction will be conducted online on January 10 next year from 10.30 am to 12.30 pm. eProcurem

The realtor will deliver the remaining 50 per cent of the units to customers in the second phase of the projects

Near 10% dip in registrations to Rs 27,509 crore since January; units worth Rs 25-50 lakh each constitute 51% of total

Realty major DLF plans to launch new projects worth Rs 3,500 crore during the second half of this fiscal, mainly in Gurugram and Panchkula as it seeks to tap a rising demand. In an investors presentation, DLF informed that the company plans to launch residential projects across Gurugram and Panchkula by March 2023 after getting requisite approvals from authorities. The company plans to launch around 3 million square feet area across residential projects. That apart, DLF has completed inventories worth Rs 3,222 crore and properties worth Rs 5,622 crore in the under-construction projects that have been launched. "Product potential (near term) ~Rs 12,350 crore," DLF said in the presentation, after taking into account the inventories available for sales currently and projects to be launched in the second half of this fiscal year. On operational performance, DLF said its sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore from Rs 2,526 crore

Curated properties high on amenities catch fancy of a younger, moneyed India

Services activity, hiring and stable unemployment rate helping consumer confidence, it says

However, the procedure is currently limited only to primary sales in Maharashtra

Report by the firm cites surge in absorption and supply of quality residential properties across price brackets in Ahmedabad, Vadodara, Nashik, Gandhi Nagar and Jaipur

Capital markets regulator Sebi on Friday said it has lined up as many as 39 properties of Royal Twinkle Star Club Pvt Ltd and Citrus Check Inns Ltd for an auction on July 15 at a reserve price of Rs 66.51 crore. The move is part of Sebi's effort to recover funds worth thousands of crores of rupees raised by the companies. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 1 pm on July 15, 2022. The properties to go under the hammer include office premises, residential flats, land parcel, shops, land & buildings located in Gujarat, Maharashtra, Goa, Daman, and Dadra and Nagar Haveli. From November 2019 to March 2022, more than 266 properties were auctioned at a reserve price of Rs 1,297 crore. The move came after a Supreme Court order in December 2019, which directed the sale-cum-monitoring committee, headed by retired Justice J P Devdhar, to proceed with the sale of 114 properties of the companies within six ...

Registration of properties in Mumbai municipal area rose by 78 per cent year-on-year to 9,523 units during this month, according to property consultant Knight Frank India. As many as 5,360 properties were registered in Mumbai city (BMC area) during May 2021. The registration data is for properties bought in both primary and secondary (re-sale) market. "May 2022 recorded property sale registration of 9,523 units denoting a 78 per cent Y-o-Y rise. The substantial rise comes on the back of low sales registrations recorded in May 2021 as the month was laced in lockdown due the impact of 2nd wave of Covid-19," Knight Frank said in a statement. Shishir Baijal, Chairman & Managing Director, Knight Frank India said the real estate market in Mumbai held steady despite the pressures of inflation, rising input costs and rise in stamp duty. "Owing to a paradigm shift in attitude, home buyers, that now consider ownership important for long term stability, were keen on completing their ...

Govt's infra push and a buoyant domestic demand to boost hospitality sector, says the Wyndham's EMEA region head

The Supreme Court on Thursday said the daughters of a male Hindu, dying intestate, would be entitled to inherit the self-acquired and other properties obtained in the partition by the father

Around 75 per cent wealthy people will look to buy luxury properties, worth more than Rs 5 crore, over the next two years in big cities as well as holiday destinations, according to a survey. India Sotheby's International Realty, one of the leading brokerage firms in luxury real estate space, has conducted a survey of over 200 HNIs (High Net worth Individuals) and ultra-HNIs to gauge the mood of the luxury real estate buyers across India's top 8 cities/regions -- Delhi-NCR, Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, Chennai, and Goa. "An overwhelming 76 per cent respondents said they would look to buy real estate in the coming two years," according to the report 'Luxury Housing Outlook-2022'. This signals a very strong turnaround in sentiments for real estate amongst the wealthy in India, it added. Out of the 76 per cent wanting to buy real estate, 89 per cent would prefer luxury homes (city apartments, city bungalows and holiday homes), while the rest 11 per cent prefer premium

Business conglomerate Shapoorji Pallonji's housing platform Joyville has clocked nearly three-fold jump in its sales booking at Rs 450 crore during the first half of this fiscal year on strong demand for mid-income residential properties, a top company official said. Joyville, which is a Rs 1,240 crore platform established by Shapoorji Pallonji, ADB, IFC and Actis, had sold properties worth Rs 160 crore in the corresponding period of the last fiscal year. In an interview with PTI, Joyville Shapoorji Housing Managing Director Sriram Mahadevan said, "the real estate market is doing well because of improved market sentiments driven by progress in the vaccination programme." Moreover, COVID-19 cases have also come down significantly, he added. "We have sold over 700 apartments for around Rs 450 crore in the first six months of this financial year. The sales bookings have grown almost three times compared to the year-ago period," Mahadevan told PTI. Sales have been good in all four cit

Capital markets regulator Sebi has lined up as many as 97 properties of Royal Twinkle Star Club and Citrus Check Inns for auction on September 25 at a reserve price of over Rs 350 crore.

Normally, properties need to be registered within three months of the purchase

The Delhi government has started the process for revising the circle rates of properties, seeking feedback from public, officials said on Monday.