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Real estate consultant JLL India on Wednesday said sales of apartments in January-March across seven major cities rose 20 per cent to 62,040 units, the highest quarterly sales in the last 15 years. The data includes sales of only apartments. Rowhouses, villas and plotted developments are excluded from this analysis. "The Indian residential market saw significant growth in Q1 2023 due to a combination of factors, such as government policies, infrastructure growth and robust launches," the company said in a statement. Across the top 7 cities of India, sales of residential units in January-March went up by 15 per cent compared to the previous quarter and 20 per cent against the same quarter last year, with over 62,000 units sold. "This marks the highest quarterly sales in the last 15 years, indicating increased consumer confidence," JLL said. Bengaluru is currently leading the market in terms of quarterly sales, with a 21 per cent share, closely followed by Mumbai with a 20.9 per ce
As many as 185 people from outside Jammu and Kashmir have bought land in the Union Territory in the last three years, Rajya Sabha was informed on Wednesday. Union Minister of State for Home Nityanand Rai, however, said as per the information provided by Ladakh, no land has been bought by outsiders in the UT. "As per the information provided by the government of Jammu and Kashmir, a total of 185 people from outside the Union Territory of Jammu and Kashmir have bought land in the UT during 2020, 2021 and 2022," he said replying to a written question. While, one person bought land in 2020, 57 bought in 2021 and 127 in 2022, he said. The Article 370, which gave special status to Jammu and Kashmir, was abrogated on August 5, 2019, and the erstwhile state was bifurcated into two UTs -- Jammu and Kashmir and Ladakh. Following the Constitutional change in October 2020, the Union Home Ministry issued a notification stating that any Indian citizen can buy land, except agricultural, in munic
Property consultant Anarock is targeting 37 per cent growth in revenue this fiscal to Rs 550 crore driven by rise in housing sales and income from other advisory services, its Chairman Anuj Puri said. Mumbai-based Anarock, one of the leading housing brokerage firm, had achieved a 32 per cent growth in its revenue at Rs 402 crore during the last fiscal year on account of sharp recovery in housing demand post second wave of the Covid pandemic. Anarock was established by Anuj Puri in April 2017. Before setting up his own firm, Puri had served as chairman and country head at a global property consultancy firm for 10 years. "We have set a revenue target of Rs 500-550 crore this fiscal year and we are on track. Our team is working hard to achieve it," Puri told PTI when asked about the turnover guidance for the 2022-23 financial year. Puri noted that housing market has further consolidated its growth and sales have risen sharply so far this year despite rise in property prices and increa
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Sebi on Friday said it will auction properties of Arise Bhoomi Developers and its directors on August 26 for a reserve price of Rs 52.28 crore. The move is a part of Sebi's effort to recover investors' money. Arise Bhoomi Developers had mobilised over Rs 8 crore during 2013-14 from the public in the name of 'purchase of agricultural land' through its various investment schemes, promising them an expected sum at the end of the contract. The schemes, as per Sebi, qualified to be a CIS which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining necessary approvals from the regulator. In a notice, the Securities and Exchange Board of India (Sebi) said it will auction 11 properties belonging to the company and its directors at a reserve price of Rs 52.28 crore. The auction will be conducted online in August. The properties that have been put on sale include land parcels, shop and a plot, located in Uttar Pradesh and ...