Page 22 - Real Estate

Leased office space may rise 14% across 8 cities in CY22 : Cushman report

The demand for office space may rise 14 per cent this year to 60 million square feet across eight cities, mainly driven by strong rebound in Indian economy and aggressive hiring plans in IT/ITeS sector as well as startups, according to real estate consultant Cushman & Wakefield. As per the data, the gross leasing of office space across eight major cities increased to 52.57 million square feet in 2021 from 49.42 million square feet in the preceding year. The eight cities are Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Pune, Hyderabad and Ahmedabad. "India's journey towards a sizable USD 5 trillion economy holds within itself a plethora of opportunities for growth of commercial office market," said Badal Yagnik, MD, Tenant Representation, India, Cushman & Wakefield. He pegged annual leasing activity over the next two years at close to 60 million square feet each. "Key triggers driving this growth are a fast-growing economy, significant expansion foreseen in the ...

Invest in quality amid tenuous recovery in residential realty: Experts

Alternatively, if you can, enter the market at a discount price

After a lull, NBFCs looking to step up funding for real estate sector

The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance

RBI lists rules for provisioning by NBFCs on advances to hsg, realty, SME

Rules apply to 'upper layer' of finance firms specifically identified by the central bank for enhanced regulatory requirements.

We expect positive momentum in realty sales in year ahead: Pavitra Shankar

'We plan to launch 8 million square feet in residential projects and 2 million square feet in commercial projects in FY23'

Bhosale allegedly received 'kickbacks' to facilitate loans from DHFL: CBI

CBI has stumbled upon 2 payments of over Rs 68.8 cr and Rs 292 cr to arrested ABIL chairman Avinash Bhosale's companies made by Radius Developers, whose owner Sanjay Chhabaria was recently arrested

Buying property in Delhi to get costlier as MCD hikes transfer duty by 1%

Officials said after the hike, the transfer duty will be 4 per cent for men and 3 per cent for women

5 days after arrest, Bhosale sent to CBI custody till June 8 in graft case

Avinash Bhosale was arrested on Thursday (May 26) by the central probe agency, which suspects illicit funds were routed through several real estate firms based in Maharashtra.

Registration of properties in Mumbai city up 78% in May at 9,523 units

Registration of properties in Mumbai municipal area rose by 78 per cent year-on-year to 9,523 units during this month, according to property consultant Knight Frank India. As many as 5,360 properties were registered in Mumbai city (BMC area) during May 2021. The registration data is for properties bought in both primary and secondary (re-sale) market. "May 2022 recorded property sale registration of 9,523 units denoting a 78 per cent Y-o-Y rise. The substantial rise comes on the back of low sales registrations recorded in May 2021 as the month was laced in lockdown due the impact of 2nd wave of Covid-19," Knight Frank said in a statement. Shishir Baijal, Chairman & Managing Director, Knight Frank India said the real estate market in Mumbai held steady despite the pressures of inflation, rising input costs and rise in stamp duty. "Owing to a paradigm shift in attitude, home buyers, that now consider ownership important for long term stability, were keen on completing their ...

Arvind SmartSpaces eyes nearly 50% real estate sales on digital platform

Industry average among organised real estate currently at 30%

PE inflows in real estate down 62% at $1.18 billion in March quarter

As per data, PE investments in office segment fell to $732 mn during January-March period from $2,148 mn in the year-ago period, while the inflows in residential segment fell to $73 mn from $234 mn

Actis acquires Hyderabad-based Rx Propellant for an undisclosed amount

Global investor Actis has acquired Hyderabad-based Rx Propellant, which provides real estate solutions to tenants in life sciences and related sectors.

LIC Housing Finance plans to expand project loan business in FY23

With this, "the company will take the share of project finance from 5 per cent to 10 per cent in incremental business in the current year", said Y Viswanatha Gowd, MD and CEO, LIC Housing Finance.

Godrej Properties adds 7 projects with expected sale value of Rs 9,500 cr

Mumbai-based Godrej Properties purchases land outright as well as forms partnerships with land owners for future development

Odds in favour of more near-term correction in Indian stocks: Chris Wood

Chris Wood believes the best way to play Indian markets is the upswing in the Indian property/real estate sector despite the rate hikes by the Reserve Bank of India (RBI)

Dynamix Group to launch three new property projects in Mumbai this year

The Mumbai-based developer earned Rs 330 crore in top line in FY21, but the same rose more than three-fold to Rs 760 crore in FY22

Free products and services win customers, paid ones help sellers monetise

Try to save cost on mode of investing, but it is usually not wise to scrimp on the cost of advice

Gujarat High Court offers GST relief to homebuyers of certain properties

Currently, 18% GST is levied on construction services in real estate. However, one-third abatement is given for land, due to which effective value of taxation comes to 12%

Real estate, auto companies to bear the brunt of interest rate hikes

Niranjan Hiranandani, managing director of Hiranandani Group, said the RBI had to ensure that inflationary pressure on the individual did not get exacerbated by higher rates on home loans

TMS Ep163: Indian unicorns, real estate recovery, US Fed Policy, spam bot

How sustainable are Indian unicorns? Will a rise in input cost and interest rates hit real estate recovery? What are the markets expecting from US Fed Policy? What is a spam bot? All answers here