Page 13 - Real Estate

Gaurs group aims Rs 650 cr sales revenue from new mixed-use project

Realty firm Gaurs Group on Friday said it will develop a new mixed-use project at Ghaziabad with an estimated sales revenue of Rs 650 crore. In a statement, the company said it will develop a "mixed land use joint venture project in Ghaziabad with a saleable value of approximately Rs 650 crore." The project, located near Hindon airport civil terminal, will comprise high-street retail with multiplex and banquets, studio apartments and social housing. Under the project, over 450 shops, 400 studio apartments and around 600 social housing units will be developed. Veshesh Gaur, Director, Gaurs Group, said: "We have been increasing our foothold in the retail sector, and have been successfully operating 2 malls, one each in Ghaziabad and Noida Extension, having tie-ups with more than 100 national and international brands." "With gradual increase in the number of flights from the civil terminal at Hindon airport, it has provided a major boost to the entire sector which is densely populated

Office space demand can translate into high returns, say experts

Oversupply, poor maintenance can, however, play spoilsport

Retail leasing rises 114% Y-o-Y, crossed 3.4 mn sq ft in 9 months: Report

Hyderabad, Delhi- NCR, Mumbai, and Bangalore account for 79% of overall retail space absorption

PM Modi inaugurates 3,024 EWS flats in Delhi to rehabilitate slum dwellers

Prime Minister Narendra Modi on Wednesday inaugurated 3,024 newly constructed flats for the Economically Weaker Sections in Delhi as part of an in-situ slum rehabilitation project. He did the honours at a ceremony here which was also attended by the beneficiaries. Modi handed over the keys of the flats to many of them. This will give the slum dwellers a sense of ownership and security, a statement from the Prime Minister's Office had earlier said. The in-situ slum rehabilitation in 376 Jhuggi-Jhopri clusters is being undertaken by the Delhi Development Authority (DDA) in line with the prime minister's vision to provide housing for all, it said. Delhi LG Vinai Kumar Saxena and Union Housing and Urban Affairs Minister Hardeep Singh Puri were among those who attended the event.

Hyderabad, NCR, Bengaluru top choices for NRIs investing in houses: survey

Study says over 77% of NRIs looking to buy bigger homes, with 54% favouring 3BHKs and 23% wanting 4BHKs

Rs 23,380 crore needed to upgrade office buildings in top 4 cities: Report

Property consultant JLL India on Tuesday said that nearly 350 million square feet of premium office space across four major cities needs upgradation with an estimated investment of Rs 23,380 crore. In a statement, JLL said that Bengaluru, Mumbai, Delhi-NCR, and Hyderabad hold 347 million square feet of Grade A office stock which requires upgradation and retrofits. Bengaluru has 118.8 million square feet of Grade A stock that requires upgradation, followed by Mumbai with 85.8 million square feet, Delhi-NCR with 80 million square feet and Hyderabad with 62.8 million square feet. The upgradation includes age, services and amenities-related upgrades as well as sustainability-led asset enhancements. "The estimated total investment across the four cities for the upgradation of the said total stock is around Rs 23,380 crore," it said. For the capex spend calculations, all projects over 1,00,000 square feet have been considered irrespective of the age of the asset. The top four cities acc

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

China's property crash sends billionaire founders heading to exits

Longfor Group Holdings Ltd.'s Wu Yajun resigned on Friday as executive director and chair, shortly after Soho China Ltd.'s Pan Shiyi quit in September

China builders slide to record lows as top chairwoman Wu Yajun steps down

A sudden resignation by the founder and chairwoman of a top Chinese builder has added to concerns over China's ailing property sector, fueling a further selloff

New supply of residential properties may rise 44% to 340,000 units in 2022

Fresh supply of residential properties is expected to rise 44 per cent this year across seven cities to 3.4 lakh units as developers look to tap increase in demand, according to Anarock. Property consultant Anarock data showed that new launches stood at 2.65 lakh units during January-September this year across primary markets of seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Chennai, Hyderabad and Kolkata. The current trends indicate that launches in these cities will exceed 3.4 lakh units in the entire 2022 calendar year, the consultant added. "Total new launches in 2022 will remain lower than the previous peak of 2014, which saw approximately 5.45 lakh homes launched across the top 7 cities," Anarock said. As per the data, new home launches stood at 4,64,060 units in 2013, 5,45,230 units in 2014, 3,89,970 units in 2015, 2,49,840 units in 2016, 1,46,860 units in 2017, 1,95,300 units in 2018, 2,36,560 units in 2019, 1,27,960 units in 2020 and 2,36,690

NRIs can repatriate funds from sale of two houses, say experts

For property bought as resident or inherited, up to $1 mn can be sent each year

Future sentiment score hints a decline in housing market momentum in Q4

The Current sentiment score has declined marginally from 62 in the second quarter of 2022 to 61 in the third quarter of 2022.

The natural synergy between real estate and hospitality can be leveraged for a disruptive way of real estate investment

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Housing sales in tier-1 cities in 2022 set to cross previous peak of 2014

Total sales in top-7 cities is expected to exceed 360,000 units this year; the previous peak in the year 2014 was 343,000 units

Housing sales in top 7 cities gain momentum, likely to breach 2014 peak

Going by the momentum of housing sales this year, 2022 is likely to breach the previous peak of 2014 with an all-time high sales across the top seven cities

Rising rates may result in moderation in home sales growth: JLL India CEO

The increase of 190 basis points (bps) in the repo rate resulted in a surge in mortgage rates with a transmission of 130-140 bps in the effective home loan rates: Radha Dhir

CIDCO launches 7,849 flats in Navi Mumbai under mass housing scheme

The City and Industrial Development Corporation (CIDCO) on Monday launched 7,849 affordable flats under its mass housing scheme in Navi Mumbai. In a video message for the launch, Maharashtra Chief Minister Eknath Shinde said CIDCO is the leading corporation in the country in providing affordable housing to the people from different economic strata. Under the Mass Housing Scheme, 7,849 affordable apartments have been made available to citizens from the economically weaker section (EWS) at Bamandongari, Kharkopar (east) 2A, Kharkopar (east) 2B and Kharkopar (east) P3 in Ulwe node of Navi Mumbai. The online registration of applications for this scheme will start on Tuesday. With ambitious projects like Navi Mumbai International Airport, the Ulwe node will gain massive importance in the future. The opportunity to own a house in the well-connected Ulwe node has come through this mass housing scheme on the auspicious occasion of Diwali, CIDCO vice-chairman and managing director Dr Sanjay

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

What NRIs on short visits to India must consider before buying property

They should hire a property consultancy or a lawyer to do due diligence on their behalf

DLF sells housing units worth Rs 4,092 cr in Apr-Sep, up 62% Y-o-Y

Realty major DLF Ltd's sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore on better demand for its housing properties. Its sales bookings stood at Rs 2,526 crore in the first half of the previous financial year, according to an investors presentation by the firm. DLF Ltd has given guidance of sales bookings at Rs 8,000 crore for the current 2022-23 financial year, a 10 per cent increase from the previous fiscal. Its sales bookings rose to Rs 7,273 crore in 2021-22 fiscal from Rs 3,084 crore in the previous year. When contacted, DLF Group Executive Director and Chief Business Officer Aakash Ohri attributed the growth in sales bookings to strong end-user demand for its residential properties. "We are maintaining the sales bookings guidance for this fiscal year," he said, adding that the company would prefer being cautious in the rising interest rate regime. Ohri said the company has worked hard in the last two years to attract end user