Property

Global property market sitting on a $175 bn debt time bomb as slump spreads

Almost $175 billion of real estate credit is already distressed, according to data compiled by Bloomberg - about four times more than the next biggest industry

Delhi to have single district property registration facility: Officials

Delhi could be soon declared a single district for the purpose of registration of properties, a move that will allow people to get their property registered from any sub-registrar office in the city and help in curbing corruption and harassment at these offices, officials said on Thursday. The city is also going to have the country's first Online Complaint Information Management System (OCIMS), which would enable Delhiites to lodge complaints of corruption electronically, they said. Once the online system is ready, no physical complaints will be accepted, they added. Further, the revenue department will soon start issuing no-objection certificates (NOCs) for land plots online, thereby eliminating any human interface, officials said. In a review meeting on Wednesday, Lieutenant Governor VK Saxena told officials to consider declaring Delhi a single district for the purpose of registration of properties to curb corruption and harassment of people at sub-registrar offices across the ci

Himachal amends 51-year-old law, provides equitable rights to daughters

The bill includes the daughter on a par with the son as a separate independent unit. Earlier, the Act allowed an adult son to have an additional 150 bighas while denying the same right to an daughter

Property market steady in Jan-Mar; housing sales up 1%: Knight Frank

Indian real estate witnessed steady demand during January-March with housing sales rising by 1 per cent and gross office space leasing growing by 5 per cent year-on-year across eight major cities, Knight Frank India said on Monday. Housing prices rose in the range of 1-7 per cent annually in the first quarter of this calendar year, while office rentals grew 2-9 per cent, according to real estate consultant Knight Frank 'India Real Estate' report released on Monday. As per the data, housing sales stood at 79,126 units across eight major cities during January-March 2023, up by marginal 1 per cent from the year-ago period. The gross office leasing rose 5 per cent to 11.3 million square feet in January-March, from 10.8 million square feet in the corresponding period of the previous year. "The residential market remained resilient in the face of rising interest rates and prices as sales level sustained in the first quarter of the year," Knight Frank India Chairman & Managing Director ..

Brigade Enterprises sells properties worth Rs 2,618.5 cr in Apr-Dec FY23

Realty firm Brigade Enterprises has sold housing and commercial properties worth Rs 2,618.5 crore during the first three quarters of 2022-23 fiscal, up 31 per cent from the year-ago period, on better demand and higher price realisation. Bengaluru-based Brigade Enterprises is one of the leading real estate firms in the country with a strong presence in South India. In its investor presentation, the company highlighted that it has "achieved sales value of Rs 26,185 million (Rs 2,618.5 crore) during 9 months of FY23, a growth of 31 per cent over 9 month of FY22". Its sales bookings stood at Rs 1,994.8 crore in the year-ago period. In volume terms, the sales bookings rose 25 per cent to 39,58,000 square feet during the April-December period of 2022-23 fiscal from 31,68,000 square feet in the corresponding period of the previous fiscal. The average sales realisation grew 5 per cent to Rs 6,616 per square feet from Rs 6,298 per square feet. Out of the total sales bookings in the first

Get a lower rental rate with higher deposit, longer-term lease agreement

Avoid paying more than 15-20 per cent of post-tax salary as house rent

Property data start-up Landeed raises $8.3mn in seed round funding

Company says it will use financing to build property title search engine, improving technology

Buy from rightful owner, don't trip up on titles when investing in a plot

With prices on the upswing, a judiciously chosen plot can yield higher return than an apartment

Rent agreement: Don't blindly sign on form downloaded from internet

Get lawyer to draft it, ensure it spells out key points of landlord-tenant relationship

Property buyers in Bengal at builder's mercy as RERA not functional: FPCE

Homebuyers' association FPCE on Sunday urged the West Bengal government to make the real estate law RERA functional in the state at the earliest to protect the consumers' interest. In May last year, the Supreme Court struck down the West Bengal government's law WBHIRA for regulating the real estate sector, saying it was unconstitutional. The state government introduced the West Bengal Housing Industry Regulatory Act (WBHIRA) as a substitute for the central law RERA, which was passed by Parliament in 2016. The apex court's ruling came on a plea filed by the Forum For People's Collective Efforts (FPCE), an umbrella body of homebuyers.The FPCE has played an important role in the enactment and implementation of RERA. FPCE President Abhay Upadhyay said it has been the association's endeavour to ensure that RERA is implemented in its letter and spirit across India. With the objective to have one law across India for the entire real estate sector, he said the Supreme Court, in its writ ...

Inheritance rights of adopted children vary on the basis of religion

Hindu and Christian personal law treat adopted child on a par with natural-born ones

Older house can offer price and location advantage, say experts

But ensure repair expenses don't erode initial gain; also carry out title check

Shalimar Group launches exclusive sky residences at Shalimar Gallant West

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All-round optimism over residential property sales in Q2: CREDAI report

There has been a renewed demand on sales of real estate properties across categories with an 'all-round optimism' in the residential sector witnessed during the July-September quarter, a report by CREDAI Chennai said. According to the realtor's body Confederation of Real Estate Developers' Associations of India (CREDAI), a total of 3,636 residential units were sold in Chennai during the July-September period, which is 16 per cent higher than previous quarter. Chennai alone accounted for 3,175 housing units, of the 3,636 units sold with the Old Mahabalipuram Road (OMR) popularly known as Information Technology corridor and Grand Southern Trunk (GST) Road becoming the most preferred locations among buyers, a report by CREDAI Chennai Research and Analysis Wing (RAW) said on Sunday. As many as 113 residential projects were registered with Tamil Nadu Real Estate Regulatory Authority (TN RERA)during the quarter ending September 30, 2022 comprising 5,232 residential units which was over 34

China's property debt crisis enters new phase as bond havens crumble

China's property debt crisis is entering a new phase as even developers that had long been considered safer rapidly tumble into distress

What to check when buying an under-construction property?

Property prices are northbound again. But, under-construction properties are a better option when compared to ready-to-move homes which are costlier. Here's a for buying under-construction properties

Uday Kotak, Asia's richest banker, weighs $1-bn real estate fund: Report

Kotak Investment plans to complete the fundraising by the end of this year and to embark on its investment in 2023, focusing on residential property in India's top five cities

Global Innovation Index 2022: India up 6 spots, first time in top 40

This was mainly due to an improvement in information and communication technologies (ICT) services exports, venture capital recipients' value as well as finance for start-ups.

Consider festive offers that lower your cost of house acquisition

Don't let freebies blind you to key considerations like location, infrastructure, and the developer's record

China's real estate crisis: CCB to set up $4.2 bn fund to buy properties

The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing, the lender said in a statement to the Shanghai stock exchange Friday.