Page 10 - Real Estate

M3M buys 350-acre land to enter Panipat mkt and build Rs 2,700 cr township

The company expects a topline of Rs 5,000 crore from the project

PE investment in real estate down 17%, inflow up in warehousing sector

According to the report, the investment volume in warehousing stood at $1.9 bn in 2022, from $1.3 bn in 2021, up 45% YoY

PE investment in real estate down 17% to $5.13 bn; inflow up in warehousing

Private equity investment in real estate fell 17 per cent this year to USD 5.13 billion as investors turned cautious amid geopolitical and inflationary concerns, according to Knight Frank India. Private equity (PE) investment, in both pure equity and debt form, declined in housing, office and retail segments during 2022, whereas it increased in warehousing assets when compared with last year. As per the Knight Frank data, PE investment in warehousing increased 45 per cent to USD 1,907 million this year from USD 1,313 million last year. In office assets, PE investment dipped 19 per cent to USD 2,331 million this year from USD 2,882 million in 2021. PE inflows were down 50 per cent in the housing segment to USD 594 million in 2022 from USD 1,187 million last year. In retail assets as well, PE investment declined 63 per cent to USD 303 million this year from USD 817 million in 2021. Overall, PE investment has fallen to USD 5,134 million (USD 5.13 billion) this year from USD 6,199 .

Home prices set for steep 6-10% jump this fiscal, 3-5% next: Report

Home prices across the top six cities are set to jump 6-10 per cent this fiscal and 3-5 per cent in the next financial year because of a steep rise in raw material, labour and land costs, and relatively favourable demand-supply dynamics, a report said on Thursday. The report by Crisil also said large residential realtors are on course to log a robust 25 per cent sales growth in 2022-23 and 10-15 per cent in the next fiscal. The unsold inventory level is down to 2.5 years from four years pre-pandemic, and this has credit profile of the large realtors strengthening, the report said. The agency expects residential prices to rise 6-10 per cent this fiscal and a further 3-5 per cent in the next across the top six cities due to the steep increase in raw material, labour and land costs. This, however, has not impacted demand for residences adversely, given a strong preference for larger homes as the hybrid working model continues in many sectors, it added. The top six realty markets are

Sebi planning 'micro' REITs to bring property companies to nascent market

'The regulator is considering reducing the size of REITs, allowing them to hold just a single asset or a diversified portfolio, to increase supply and flexibility for investors'

HRERA imposes penalty on Brahma City for selling plots without registration

HRERA, Gurugram, has imposed a penalty of Rs 2.50 cr on Brahma City Private Limited, a real estate promoter, for violating the provisions of the real estate (regulation and development) Act of 2016

Delay in permissions can't be termed force majeure

The National Commission found that delay was caused due to submission of plans which were not in consonance with the statutory rules and regulations

Branded real estate developers may corner 50% mkt share this year: Anarock

Branded real estate developers are likely to capture more than 50 per cent market share in expected total housing sales at record 3.6 lakh units this year across seven major cities, according to Anarock. In his round-up of India's primary residential market for 2022, property consultant Anarock Chairman Anuj Puri has highlighted that housing sales this year would be over 3.6 lakh units across the seven cities, surpassing the previous high of 3.43 lakh units in 2014. The seven cities are Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune. Among the new trends, Puri said the demand was driven by end-users and the Grade A developers have cornered more market share. "Demand, driven primarily by end-users, was mainly focused on projects by Grade A developers, who gained even more market share in 2022," he said. About 60 per cent of the 2.65 lakh units launched during January-September 2022 was by branded developers. Puri noted that these brand

WeWork India to focus on 6-8 cities, expects to be valued at $2 bn: CEO

Co-working space company 'would love' to go public but has not decided about that yet: Karan Virwani

Elan Group raises $60 mn from PAG for construction of realty projects

Realty firm Elan Group on Friday said it has raised USD 60 million from global investment firm PAG to fund construction of projects, reduce debt and expand business. The company has secured a second round of funding from PAG. In August this year, it had raised USD 50 million from PAG. The investment will be used towards growth capital to endorse existing debt and to scale up construction of its new luxury housing project -- "The Presidential", located in Sector 106 Gurugram. "This follow-on financing from PAG further strengthens the partnership between both firms and the team at Elan is geared up to put this capital to its most efficient use", said Sandeep Agarwal, CFO, Elan Group. Last month, Elan Group announced an investment of Rs 4,000 crore to develop its first housing project on Dwarka Expressway in Gurugram. In January, the group bought 40 acres of land in Gurugram from Indiabulls Real Estate Ltd (IBREL) for Rs 580 crore for the development of housing and commercial project

Macrotech Developers' promoters plan to raise Rs 3,500 crore via share sale

Realty firm Macrotech Developers' promoters plan to raise about Rs 3,500 crore by selling shares to institutional investors, according to sources. Mumbai-based Macrotech Developers sells its properties under the Lodha brand. In a regulatory filing late on Wednesday, Macrotech Developers informed that the company has launched Qualified Institutional Placement (QIP) of the equity shares. The QIP consists of an offer-for-sale (OFS) of shares by promoter group entities -- Sambhavnath Trust, Sambhavnath Infrabuild and Farms Pvt Ltd, Hightown Constructions Pvt Ltd and Homecraft Developers and Farms Pvt Ltd. The promoters are selling shares for the purpose of achieving minimum public shareholding, the filing said. As on September 2022, promoters had 82.20 per cent stake in the company and they need to bring it down to 75 per cent in order to maintain the minimum 25 per cent public shareholding. Macrotech informed that the floor price has been fixed at Rs 1,022.75 per share but did not .

Why India's growth should stay resilient

Indian property cycle has multi-year pent-up demand and is more dependent onpricing sentiments (now strengthening) instead of mortgage rates.

Rate sensitive shares trade mixed as RBI hikes repo rate by 35 bps to 6.25%

At 10:35 AM; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Private Bank indices were up in the range of 0.10% to 0.90%; while Nifty Auto and Nifty Realty indices slipped up to 0.2%.

Synergy Advisors: The Shake-Up Real Estate Needed Has Truly Arrived

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Buying a resale flat? Don't let the society rip you off on transfer charges

The amount they can charge is capped in many cities; you can go legal to avoid payment or even recover your money paid under pressure

Listed real estate majors home in on market-share gains, price hikes

The sector has been able to offset interest rates, input cost pressures

Home buyers stage protest outside builder's office over delayed deliveries

Home buyers of a housing project of Raheja Developers on Saturday staged a protest outside the company's office here over delayed deliveries of their flats. Home buyers were demanding that the builder should either hand over the houses or refund the money. They alleged that buyers of the Raheja Revanta Project at Sector 78 are awaiting for the last five years for the delivery of their homes. The buyers alleged that even after taking 90 per cent of the money for the flat, they were being misled in the name of completing the project. The local police had also reached the spot. Arjun, the president of the association of Raheja Revanta Society, said the builder sold the flats in the name of the tallest project of Delhi NCR and Haryana. They bought flats for Rs 1 crore to Rs 5 crore. After discussions with builder Nayan Raheja, buyers and the developer agreed to hold a meeting every three months. A spokesperson of Raheja Developers in a statement said that they are aggressively taking

Yogi govt to boost real estate sector for achieving $1 trn economy goal

The Yogi Adityanath-led Uttar Pradesh government is eyeing at real estate sector as a key pillar in fulfilling its goal of making the state reach a $1 trillion economy

Godrej Properties buys 18.6 acre land in Mumbai to build luxury homes

Godrej Properties has bought an 18.6 acre land parcel at Kandivali, in Mumbai for around Rs 750 crore to develop a luxury housing project. On Friday, Godrej Properties informed about the land transaction but did not disclose the total deal value. Market sources and property consultants said the land deal was struck at around Rs 750 crore. Godrej Properties, which is part of business conglomerate Godrej Group, is one of the leading real estate companies in the country. The company has been aggressively buying land outrightly and also entering into joint development agreements (JDAs) with landowners to create future development pipelines. As per the regulatory filing, Godrej Properties expects sales revenue of about Rs 7,000 crore from this upcoming 18.6-acre project, which would have a developable potential of about 3.72 million square feet. The project will comprise primarily premium residential apartments with supporting retail spaces. Godrej Properties highlighted that this is

Godrej Properties buys 18.6 acres land in M'bai; eyes Rs 7Kcr sales revenue

Godrej Properties Ltd on Friday said it has bought 18.6 acre land at Kandivali in Mumbai to develop a premium housing project and expects sales revenue of about Rs 7,000 crore. In a regulatory filing, the company informed that the project would have a developable potential of about 3.72 million square feet with an estimated revenue potential of around Rs 7,000 crore. The project will comprise primarily premium residential apartments with supporting retail spaces. This will be one of the company's largest residential developments, and it significantly strengthens the firm's presence in the western suburbs of Mumbai. Godrej Properties highlighted that this is the 8th project addition so far this financial year and "takes the cumulative expected booking value from projects added in FY23 to approximately Rs 16,500 crore." Godrej Properties, one of the leading real estate developers in the country, had given a full year guidance of adding projects with a booking value potential of Rs .