Page 38 - Real Estate

I Squared Capital invests $200 mn in Singapore-based AG&P City Gas

AG&P City Gas is developing twelve city gas distribution networks in India

Mumbai: A-list realtors queue up to enter one of world's priciest market

Increasing demand for luxe housing, accommodative state policies and decadal-low home loan rates could be some of the triggers

Street signs: MFs bet on easier compensation rules, India VIX surges & more

Officials in the industry believe that the market regulator might give some concessions on the aspect of key employees of the fund houses

Vacancy levels at 3 REITs set to rise another 300 bps

Work from home, second wave have deferred leasing decisions by occupiers

How Anarock Capital MD Agarwal built a solid reputation brick by brick

The pandemic hasn't disrupted Shobhit Agarwal's ambition, and his search for the next big deal

Ajmera Realty expects Rs 4,000 cr revenue in 3-4 years from 7 projects

The city-based developer Ajmera Realty is expecting around Rs 4,000 crore in topline from the upcoming seven projects which need an investment of around Rs 2,500 crore, a top company official has said. The company, which had a revenue of Rs 330 crore in the pandemic-hit FY21, is expecting to close FY22 with Rs 500 crore and has started off the fiscal on a robust note with the June quarter sales touching Rs 134 crore. It earned a profit of Rs 10.26 crore in Q1, up from Rs 2.10 crore in June 2020. The proposed seven projects are coming up in Mumbai (four, one of which is a relaunch in the Mulund area), Pune (two) and one in Bengaluru and will have a saleable area of around 2 million sqft when fully developed. "We are expecting topline to grow by Rs 4,000 crore from these seven projects and have budgeted around Rs 2,500 crore of investment in these projects," Dhaval Ajmera, director of Ajmera Realty & Infra, told PTI on Monday. "Despite the pandemic we almost doubled our sales in the

The unfairness of real estate bankruptcy resolution

'Real estate bankruptcy laws ought to be completely overhauled to right this egregious wrong', said the author

Realty firm Sobha Q1 profit up 73% at Rs 11 cr

Realty firm Sobha Ltd on Saturday reported a 73 per cent rise in its consolidated net profit at Rs 11.4 crore for the quarter ended June.

Mindspace REIT to distribute Rs 272.8 cr to unitholders for Jun quarter

Mindspace Business Parks REIT on Friday reported a net operating income of Rs 359.6 crore and will distribute Rs 272.8 crore to unitholders for the quarter ended June 30.

Brookfield India REIT operating income up 4% in June quarter to Rs 170cr

Company to distribute Rs 182 crore to unitholders

Home truth: NCR's unsold inventory dips 26% since RERA, shows data

While it continues to take the strain of 328,000 stalled units launched before 2015, unsold units since early-2016 have come down 26 per cent

Realtors' body Credai seeks input tax credit under GST for developers

Realtors' body Credai on Tuesday demanded that input tax credit (ITC) under the GST regime should be allowed to developers, saying this could lead to a reduction in housing prices by 10 per cent.

'Chawl' revamp to slash Central Mumbai realty prices by up to 25%

Experts say over the next decade, 12-million sq. ft development will transform the micro markets of Worli and Lower Parel into a mid-market affordable housing settlement

Oberoi to Hiranandani, top Mumbai realtors turn to building redevelopment

Tata Realty, the real estate arm of Tata Sons, is also looking to redevelop residential buildings in South Mumbai

Lodha group forms 4 JVs in Q1 for realty projects, eyes 2 JVs every quarter

Macrotech Developers, which sells properties under Lodha brand, has formed four JVs in April-June to build projects of Rs 3,500 crore, eyes two such tie-ups every quarter, a top company official

Second wave: MahaRERA grants six-month extension to developers till October

The Maharashtra Real Estate Regulatory Authority allowed a six-month relief to builders to deliver projects by accepting their demand for invoking the force majeure clause because of the second wave.

Real estate experts hail central bank decision to hold interest rates

Abheek Barua, Chief Economist of HDFC Bank, said the RBI has continued with its line of supporting growth despite the recent spikes in inflation.

Square Yards Q1 gross profit up 14% to Rs 32cr; revenue up 50% to Rs 101cr

Real estate consultant Square Yards on Thursday said its gross profit rose 14 per cent to Rs 32.2 crore, while revenue was up 50 per cent to Rs 100.8 crore for the quarter ended June. Square Yards, which is into property brokerage and mortgage businesses, has presence in India as well as overseas. In a statement, the company said the Gross Transaction Value (GTV) rose 79 per cent to Rs 2,196.9 crore in the first quarter of this fiscal from Rs 1,228.7 crore in the previous year. Tanuj Shori, Founder and Chief Executive Officer, Square Yards said, We had a phenomenal start to the year, with very strong growth metrics along with a solid profitability profile." "We will continue to make investments in ramping up our distribution capacity and building blocks of new business segments like home interiors, rentals & SaaS," he added. Last month, Square Yards raised USD 25 million (about Rs 185 crore) as debt from Hong Kong-based ADM Capital to expand its business. Anil Ambani-led Reliance

Mumbai leads housing market recovery in Q1; new launches rise 33%

The latest data from Knight Frank shows that property registration in the largest market - Mumbai Metropolitan Region - hit a decadal high in July

Dalmia Nisus Finance invests about Rs 80 cr in 2 realty projects

Dalmia Nisus Finance Investment Managers LLP, an alternatives manager, has invested this amount from its Real Estate Credit Opportunities Fund - I