Page 11 - Real Estate

Construction tech key for India to achieve zero emissions by 2070: H S Puri

The minister notes that the built environment generates significant carbon emissions accounting for almost 39% of gross carbon emissions worldwide

Shapoorji Pallonji Real Estate raises Rs 450 crore from Motilal Oswal

Shapoorji Pallonji Real Estate (SPRE) has raised Rs 450 crore from Motilal Oswal Group to fund its two projects. Motilal Oswal Alternates, the investments arm of Motilal Oswal Group, has committed Rs 450 crore to Shapoorji Pallonji Real Estate. The investment has been made against two projects. One of the projects is a partially completed, leased and operational commercial project located in Manesar. The other project is a residential township project, launched in 2021 and has seen a positive sales response. "The investment, which has been made through structured debt instruments will be utilised towards working capital for the project, repayment of debt and to achieve financial closure," Motilal Oswal said in a statement on Monday. Venkatesh Gopalakrishnan, CEO of Shapoorji Pallonji Real Estate, said the additional funding will strengthen the company's growth story even more by adding significant value to its project pipeline. Sharad Mittal, CEO of Real Estate Funds, Motilal Oswa

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

Motilal Oswal invests Rs 450 cr in Shapoorji Pallonji Real Estate

Takes exposure to two projects--one commercial, the other a residential township

Housing sales in Gurugram jump over 3-fold to 24,482 units during Jan-Sep

Housing sales in Gurugram jumped more than three-fold on an annual basis to 24,482 units during January-September this year on higher demand for residential properties across all price categories -- affordable, mid-income and luxury, according to Anarock. Housing sales in Gurugram stood at 7,725 units in the year-ago period. Noida saw a 52 per cent increase in sales to 5,040 units in the first nine months of this year compared to 3,315 units in the corresponding period of the previous year, as per data compiled by Mumbai-headquartered property consultant Anarock. Sales in Greater Noida rose 46 per cent to 8,651 units during January-September 2022 from 5,925 units earlier. Ghaziabad witnessed a 54 per cent rise in housing sales to 5,395 units from 3,510 units in the corresponding period of 2021. Sales in Faridabad jumped nearly three-fold to 2,890 units from 1,018 units. Overall, Anarock data showed that sales in the Delhi-NCR market more than doubled to 49,138 units during ...

Walton Street invests Rs 165 cr in Sowparnika Homes' Bengaluru projects

Sowparnika caters to the middle-income/affordable segment with an average ticket size of Rs 50 lakh in a project close to key employment centres and IT Hubs

ICBC leads big banks to offer $179 bn aid to China's real estate developers

China's priority has been to ensure that unfinished homes get completed, while supporting the stronger firms that have so far survived the crisis

Keystone Realtors shares climb over 3% in stock market debut trade

Shares of Keystone Realtors, which sells properties under brand 'Rustomjee', ended over 3 per cent higher in its debut trade on Thursday against the issue price of Rs 541. The stock listed at Rs 555, reflecting a gain of 2.58 per cent from the issue price on the BSE. It further rallied 5 per cent to Rs 568.25. Shares of the firm ended at Rs 557.80 apiece, higher by 3.10 per cent. At the NSE also, it made its debut at Rs 555. It later ended at Rs 556.80, a gain of 2.92 per cent. The company commanded a market valuation of Rs 6,352.08 crore on the BSE. In volume terms, 4.16 lakh shares of the firm were traded at the BSE and over 58.63 lakh shares on the NSE during the day. The initial public offering of Keystone Realtors received 2 times subscription on the last day of the offer on November 16. The IPO had a fresh issue of up to Rs 560 crore and an offer-for-sale of up to Rs 75 crore. Price range for the IPO was at Rs 514-541 a share. Founded in 1995, Keystone Realtors has 32 com

Trident Realty to invest Rs 3,000 crore over 7-8 years in Haryana

Trident Realty will invest about Rs 3,000 crore to build a 200-acre luxury housing township at Panchkula in Haryana as part of expansion plan, its Chairman S K Narvar said. It has acquired this land parcel through insolvency process and invested around Rs 400 crore to settle the loans of financial institutions. It has also provided plots to around 450 stuck homebuyers in this project. The Delhi-based company has presence in Delhi-NCR, Mumbai Metropolitan Region (MMR) and is now making a foray into Chandigarh tri-city through this new project. "We have launched our new luxury residential project Trident Hills in Panchkula. This 200-acre land parcel is located in the foothills of the Shivaliks. We will be developing around 60 lakh square feet area in this township, including villas, group housing, independent floors and plots," Narvar told PTI. The project will be developed over the next 7-8 years. "We will be investing about Rs 3,000 crore to develop this township project," Narvar

Greenfield construction cost for developers up 5-7% in Q3 2022: Report

Labour cost increased 8-10% and reinforcement steel prices went up about 20%, says study scanning cities

NRIs from UK, US investing in large housing units in India: Realtors

NRIs based in the US, the UK and Singapore are investing in larger housing units in their hometowns, having learned from the painful experience of living in space-tight units during the lockdown in India, and as the Work from Home (WFH) mode has become a requirement, according to experts. The real estate experts, who took part in a Singapore property show held from November 19 to 20, also said that the Non Resident Indians are also settling down with extended families, another lesson from the pandemic that living together with family members is much helpful in facing another COVID-19 wave type development in the future. There has been a paradigm shift in the residential market in terms of living and lifestyle, said Isha Kotwal, head of international sales at Total Environment, Bangalore, who presented a sustainable residential development concept at the show. Chetan Sharma, senior general manager for sales and market at Emami Realty Ltd, a pan-India property firm of Emami Group, sai

Total leasing of office space in Oct dips 21% across top 7 cities: JLL

The total leasing of office space, which comprises demand for all grades of buildings, fell 21 per cent year-on-year in October across seven major cities to 6.7 million square feet on lower demand, according to property consultant JLL India. The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top 7 cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included. Total office leasing activities stood at 8.5 million square feet in August 2021. As per the data, Mumbai with a 65 per cent share of monthly leasing activity clearly leads the way, mainly due to strong demand for space coupled with select significant renewals during the month, followed by Delhi NCR and Pune. These three cities accounted for nearly 93 per cent of all leasing activity in the October 2022 monthly leasing activity tracker. The ..

We see growth fuelled by all our business domains: Brigade Group MD

'If there is an IT slowdown, we see demand consolidating with branded, listed players like ours as a flight to quality'

As property market hits a slump in China, are investors turning to India?

-date period till October, investment in real estate development fell 8.8% compared with the same period in the previous year, commercial floor space sold dropped 22.3%

Land deals surge over threefold in first nine months of 2022: Report

The top 8 cities include National Capital Region, Mumbai Metropolitan Region, Bengaluru, Hyderabad Pune, Chennai, Kolkata, and Ahmedabad

Land deals by builders see 3-fold jump to 68 in Jan-Sep in 8 cities: Report

Real estate developers are aggressively looking to expand their business with revival in demand, resulting in a sharp rise in the number of land deals which jumped over three-fold to 68 across eight major cities during January-September this year, according to property consultant Anarock. Anarock has compiled the land transactions, which include both outright purchases by developers and also joint development agreements (JDAs). At least 68 separate land deals, accounting for 1,656 acres, were closed in the first nine months of 2022 across top eight cities, as against just 20 land deals for 925 acres in the corresponding period of last year, it said. Out of the 68 deals in January-September period of 2022, as many as nine were either JDAs or on revenue sharing basis. The remaining deals were outright purchase. Land, the most precious finite resource amid rapid urbanisation, has been seeing increased action after the COVID-19 pandemic, Anarock noted. To encash the surge in housing .

NCLAT stays proceedings against BPTP as firm settles dispute with creditor

The National Company Law Appellate Tribunal has stayed insolvency proceedings against BPTP after the real estate firm informed NCLAT that it has settled the dispute with its operational creditor. On November 14, the National Company Law Tribunal (NCLT) had directed to initiate insolvency proceedings against BPTP Ltd, a leading real estate player in Delhi-NCR, on a petition filed by an operational creditor, RBCL Projects. During the proceedings of NCALT on Friday, the counsel appearing for BPTP informed the appellate tribunal that there was a settlement between the parties on November 15, 2022. The counsel sought time to file joint application along with their operational creditor. The counsel for BPTP's operational creditor also made a statement before NCLAT, saying it has already received the amount under the settlement. Admitting it, NCLAT directed to list the matter on November 23 for the next hearing. "In the meantime, we stay the order dated November 14, 2022," it said. Earl

M3M expects Rs 5,000 cr in sales through 13-acre land acquired in Noida

Real estate firm will invest Rs 2,400 cr in mix-use project of housing, retail and service apartments

M3M enters Noida property mkt, to invest Rs 2,400 cr in mixed-use project

Realty firm M3M India has bagged a 13-acre land parcel in Noida through e-auctions and plans to invest around Rs 2,400 crore to develop a mixed-use project, its director Pankaj Bansal said on Wednesday. M3M India, which has a major presence in Gurugram, will be foraying into Noida property market through this project. "We have secured a 52,000 square metre plot in Sector 94 through an e-auction conducted by the Noida Authority. We will be entering into the Noida market through this land acquisition," Bansal told PTI. The land has been bought at Rs 827.41 crore through auction, he said, adding that the total acquisition would reach Rs 1,200 crore including lease rent and registration charges. "We are targeting to launch this mixed-use project, comprising of housing, retail and serviced apartments, in February-March next year," Bansal said. Asked about the funding of this project, he said the company is in talks with financial institutions to raise funds. Bansal said the company pl

Abu Dhabi fund invests $500 mn in Kotak Investment's 13th real estate fund

With this new fund, KIAL has raised, managed or advised more than $3.3 billion under its real estate fund series