Realty

Macrotech adds 12 land parcels in FY23 to build new projects to meet demand

Realty firm Macrotech Developers has added 12 land parcels for the development last fiscal, with an estimated revenue potential of nearly Rs 20,000 crore as it seeks to expand the business to tap rising housing demand. The company had given a guidance of Rs 15,000 crore for new business development for 2022-23 fiscal. Macrotech Developers, which sells its properties under the Lodha brand, acquires land outright and also enters into joint development agreements (JDAs) with landowners to expand the business. It mainly focuses on Mumbai Metropolitan Region (MMR) and the Pune market. It has entered Bengaluru recently. "We continue to remain the preferred partner for various landowners across micro-markets for JDA partnerships," Macrotech Developers MD and CEO Abhishek Lodha said. The company has added 12 projects in FY23 on 14 million square feet for a combined GDV (gross development value) of Rs 19,800 crore, he added. "Business growth robustness continues to strengthen with a ...

Office space demand for properties larger than 100,000 sq ft high: Report

NCR, Ahmedabad, and Mumbai witnessed higher demand for offices sized between 50,000 and 100,000 square feet

DLF sells 1,137 flats in Gurugram for over Rs 8,000 crore within 3 days

Realty major DLF Ltd on Thursday said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days, reflecting a strong demand for premium flats across major cities. In a regulatory filing, DLF informed that it has "witnessed record breaking pre-formal launch sales of Rs 8,000-plus crores for its luxury high-rise residences, The Arbour". DLF will build 1,137 4BHK apartments across five towers (38-39 storeys) in this 25-acre project. The project is located at Golf Course Extension Road, Sector-63 Gurugram. The project has been fully sold out within three days even before its launch, DLF said. Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, said, "Our latest luxury offering, 'The Arbour' has received a phenomenal response even before it was launched." The interest shown by discerning homebuyers in the country and overseas is clearly an endorsement of the highly aspirational DLF

M3M buys land in Noida for Rs 250 cr to develop commercial project

Real estate firm seeks top line of Rs 1,200 crore from project to be completed in 2 years

Panchshil Group Owner: Mr. Atul Chordia, the growth catalyst for Panchshil Group

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Fractional realty ownership becoming popular with retail investors: Experts

Apart from being a pocket-friendly investment avenue, it also does away with the hassles of property management such as rent collection and maintenance

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

Realty index may slip up to 7 per cent if stays beneath 400 level

Delhi-Mumbai expressway's first leg to boost Gurugram market, say realtors

It will give a huge boost to the residential and commercial market in Gurugram's Sohna and to industries, warehousing & logistics as well

Mumbai, Bengaluru among top 5 APAC cities with the steepest home price rise

Delhi was also on the list of top ten such cities with an average price rise of 6.8 per cent in the second half of 2022

With purchases worth Rs 35K crore, Indians emerge top home buyers in Dubai

This is almost double the money spent by Indians to purchase homes in Dubai in 2021

New York Life Insurance to invest Rs 290 cr in Max Group's realty project

New York Life Insurance Company will invest Rs 290 crore to acquire 49 per cent stake in an upcoming commercial project in Gurugram being developed by Max Group firm Max Ventures & Industries Ltd (MaxVIL). In September last year, MaxVIL's arm Max Estates Ltd acquired Acreage Builders at an enterprise value of Rs 322.50 crore. Acreage Builders owns 7.15 acre land at Golf Course Extension Road in Gurugram. In a statement, MaxVIL said Max Estates has completed the 100 per cent acquisition of Acreage Builders, which now has become a step-down wholly-owned subsidiary of the company. "New York Life Insurance has been onboarded as an equity investor committing Rs 290 crore in Acreage Builders," MaxVIL said. Max Estates will hold 51 per cent stake and New York Life 49 per cent stake in Acreage Builders, which has a licence to develop this commercial project. "The developable leasable area is around 1.6 million square feet with a revenue potential of Rs 160200 crore per annum," MaxVIL ...

Budget balanced, likely to boost demand in housing sector: Realty industry

"Moreover, the sustained attention on manufacturing and improvement of urban infrastructure is likely to boost the I&L sector and at the same time spur economic activity and job creation"

DLF sales booking up 45% to Rs 6,599 cr in Apr-Dec; to meet Rs 8k cr target

Realty major DLF Ltd has achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December this fiscal on better demand and is on track to achieve its annual sales guidance of Rs 8,000 crore, a senior company official said. DLF's -- the country's largest realty firm in terms of market capitalisation -- sales bookings stood at Rs 4,544 crore in the year-ago period. "We have achieved robust growth in our sales bookings in the first nine months of this fiscal year. The sales are driven by demand for good quality products," DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. He said the company has launched apartments and independent floors at different price points, which helped in achieving better sales. DLF has launched residential projects in Delhi, Gurugram, Panchkula and Chennai. Asked about sales bookings for the entire fiscal, Ohri said the company has given a guidance of Rs 8,000 crore for the 2022-23 fiscal and is expected to achie

Vital evidence surfaces on Rs 700 crore real estate scam in Mohali

Sources maintain that the NOC violates clause 20 of the sale-deed registration of the plot dated May 27, 1987

Around 58% builders expect housing prices to rise further in 2023: Survey

As many as 341 real estate developers from various parts of the country participated in the joint survey conducted during the last two months

Realty sees surge in investment platforms, partnerships worth $4.5 bn

Indian real estate saw a surge in setting up of investment platforms in 2022 and an amount of USD 4.52 billion has been committed, which will be deployed over the next few years, according to JLL India. Foreign as well as domestic investors tie up with real estate developers to establish an investment platform for the development of different realty projects like warehousing parks, office assets, student housing and data centres among others. According to the data, platform deals/partnerships worth USD 1,651 million were announced in 2019, USD 1,880 million in 2020 and USD 3,320 million in the 2021 calendar year. "Platform deals/ partnerships amounting to USD 4,527 million were announced during 2022, to be invested in the next few years," JLL India said in a report, adding that higher investment commitments over the years suggest increasing confidence in the Indian real estate market. "Improved synergy of marquee global funds with pedigree developers in respective asset classes - a

Higher demand drives record quarterly bookings for realty majors

Higher sales, improving cash flows are expected to drive further debt reduction for the sector

Realty sector seeks industry status, tax breaks, big housing push in Budget

Demands include 10x spike in SWAMIH fund to Rs 50,000 cr, uniform 25% corporation tax rate, finalisation of the state rental housing policy, among other things

BK Modi Group plans to invest $1 bn in 5 years in realty, wellness

BK Modi Group plans to invest about USD 1 billion over the next five years in Indian real estate and wellness space as it sees huge growth potential in these two sectors. In an interview with PTI, group founder B K Modi asserted that there is a tremendous scope of bringing new technologies in the real estate sector as well as wellness space. "We will be investing around USD 1 billion over the next five years," he said when asked about the proposed investment in these new ventures. On source of investment, he said the group will also rope in foreign investors in the proposed projects. The group is already constructing a commercial real estate project in Mumbai in partnership with a developer and now has plans to expand this business. On the concept of private smart city, Modi said the group will develop a mixed use project in Rampur, Uttar Pradesh. It already has a piece of land for this project where it will construct housing, mall, hospital and office space. "Whatever is the ne

Builders go for outright land buys amid better residential demand

Of 68 land deals closed in nine months of 2022, nearly 40 deals comprising over 590 acres are proposed for residential development