Page 28 - Real Estate

No major impact of fresh Covid wave on housing sales: Property consultants

Housing sales are expected to remain strong during this current quarter and there will not be any major impact on demand from the fresh wave of the COVID-19 pandemic, according to industry experts. Many states imposed restrictions like weekend curfew to curb the spread of the Omicron variant of coronavirus, affecting visits of prospecting customers to project sites. However, real estate developers and consultants said there was a minor impact in the first two weeks and sales enquiries are strong. "The impact of Omicron on housing sales is not expected to be significant as compared to the last two waves," Anarock Chairman Anuj Puri told PTI. Anarock is one of the leading housing brokerage firms in the country. "Unlike the last two waves, we have not had a complete lockdown and mobility has not been severely impacted. The sentiments have remained broadly positive as the fatality rate has been very low and so has the hospitalisation rate," he observed. Though the weekend lockdowns i

Budget 2022: Sops to boost investment in real estate sector, say brokerages

There are multiple expectations from firms in the real estate sector, the second largest employer after agriculture

Real estate sector pins hope on Budget FY23 to sustain growth momentum

The Central government has done a lot of work for the real estate sector in the previous years with landmark initiatives.

Elan Group acquires 40-acre land in Gurugram for Rs 580 cr from Indiabulls

In a big-ticket land deal, Elan Group has bought around 40-acre land in Gurugram for Rs 580 crore from Indiabulls Real Estate to develop housing and commercial projects.

Realty firm Macrotech Developers Q3 profit up 24% at Rs 286 crore

Realty firm Macrotech Developers on Tuesday reported a 24 per cent increase in its consolidated net profit to Rs 286.38 crore for the quarter ended December on higher sales.

Positive sentiment score in real estate hit record high in Dec qtr: Report

The sentiment index score for India's real estate sector remained positive and touched an all-time high during October-December quarter

Housing registration in Mumbai-MMR up 53% to 242,000 units in 2021

Registration of homes in Mumbai Metropolitan Region rose 53 per cent last year to 2.42 lakh units, driven by stamp duty reduction by the Maharashtra government and low interest rates on home loans

Seren Shvo Continues to Build Shvo Real Estate As The Head of Communications

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Institutional investments in real estate falls 81% to $670 mn in Dec qtr

The investment period has been captured based on term sheet signed or transaction announcement and not from the actual transfer of capital

Seren Shvo Continues to Build Shvo Real Estate As The Head of Communications

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Over 75% HNIs want to buy over Rs 5 cr properties in 2 years: Survey

Around 75 per cent wealthy people will look to buy luxury properties, worth more than Rs 5 crore, over the next two years in big cities as well as holiday destinations, according to a survey. India Sotheby's International Realty, one of the leading brokerage firms in luxury real estate space, has conducted a survey of over 200 HNIs (High Net worth Individuals) and ultra-HNIs to gauge the mood of the luxury real estate buyers across India's top 8 cities/regions -- Delhi-NCR, Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, Chennai, and Goa. "An overwhelming 76 per cent respondents said they would look to buy real estate in the coming two years," according to the report 'Luxury Housing Outlook-2022'. This signals a very strong turnaround in sentiments for real estate amongst the wealthy in India, it added. Out of the 76 per cent wanting to buy real estate, 89 per cent would prefer luxury homes (city apartments, city bungalows and holiday homes), while the rest 11 per cent prefer premium

Compare builder agreement with your state's model deal: Analysts

Beware of broad definitions of force majeure clause

Tech, banking among sectors that will be the hottest stock picks for 2022

The sustained boom in global tech spending, a revival of local housing demand and a rebound in bank earnings are expected to be among the key drivers of gains for India's stock market this year

Realty developers expecting 30% rise in real estate prices this yr: Survey

A significant percentage of real estate developers expect property prices to rise of up to 30 per cent this year due to sharp increase in rates of building materials

Enter into a contract with firm to demolish twin-towers in a week: SC

The NOIDA authority informed the bench that it has finalised the company Edifice Engineering for demolishing the twin towers in consultation with the Central Building Research Institute (CBRI)

Prestige Estates Q3 sales bookings jump over 2-fold to record Rs 4,268 cr

The group has completed 255 projects with developable area of 144 million square feet and has 47 ongoing projects across segments, with total developable area of 58 million square feet

Propping up the property market

A credit guarantee can give housing a boost

Builder's failure to get occupation certificate deficiency in service: SC

In the absence of the occupation certificate, individual flat owners were not eligible for electricity and water connections, it said

Evergrande unit gets investors to back yuan bond payment delay

Bondholders of more than half of the principal agreed to a proposed payment extension, the developer's Hengda Real Estate Group Co. unit said

Realty firm Kolte-Patil Q3 sales bookings jump 77% to Rs 561 cr

Pune-based Kolte-Patil Developers Ltd on Wednesday reported a 77 per cent jump in its sales bookings to Rs 561 crore for the quarter ended December. Its sales bookings stood at Rs 317 crore in the year-ago period. In a statement, the company said its sales bookings rose 83 per cent to Rs 1,238 crore during the April-December period of the 2021-22 fiscal year from Rs 676 crore in the year-ago period. Commenting on the update, Rahul Talele, Group CEO of Kolte-Patil Developers Ltd, said, "Sales traction remains promising across our key markets and product categories..." Going forward, he said the company is geared up to scale its operations while maintaining financial discipline. "We are set to expand our portfolio of projects with several launches lined up across key micro-markets in Pune, Mumbai and Bengaluru," Talele said. The company continues to evaluate several business development opportunities to expand its market share. The company has developed and constructed over 50 pr