BUSINESS
Religious tourism driving residential demand in religious cities, Prayagraj witnesses 28% surge
Big spiritual events like the Mahakumbh Mela that attract millions of visitors are also giving a boost to demand for homestays. Data from Magicbricks showed that cities of religious importance like Prayagraj have witnessed an annual 28 percent increase in buyer queries about residential real estate.
BUSINESS
Long-struggling affordable housing segment sees ray of hope after RBI cuts key policy rate
With rising construction costs, high home loan interest rates, thin margins and more lucrative opportunities in mid, premium, and luxury housing, large developers have continued to vacate the affordable housing space, and reduced supply has pushed up prices for affordable housing units.
BUSINESS
Repo rate cut to boost property investment, fuel housing demand as home loan EMIs to go down, say real estate experts
RBI MPC on February 7 decided to reduce the repo rate by 25 bps from 6.5 percent to 6.25 percent, its first such move in five years.
BUSINESS
SOBHA Q3 results: Net profit jumps 44% YoY; developer plans new projects in Greater Noida, Mumbai
SOBHA witnessed a growth of 76.1 percent YoY in its net revenue at Rs 1256.9 crore in Q3FY25, the company said in a regulatory filing on February 6. The company said that it plans to launch new projects in Greater Noida, Hosur and Mumbai.
BUSINESS
DLF expecting approval for Mumbai project soon, launch likely in Q4FY25-end; Goa launch shifted to FY26
DLF’s Mumbai project, which is located at Andheri (West), is a Slum Rehabilitation Authority (SRA) venture. It is being developed in partnership with the Trident Group.
BUSINESS
Union Budget's measures may spark real estate boom in top tourist destinations
Market data suggests a significant rise in residential demand across markets in key tourism and pilgrimage hubs such as Goa, Nainital, Ayodhya, Prayagraj, Rishikesh and Varanasi, among others.
BUSINESS
Explained: SWAMIH Fund and how it will benefit homebuyers of stressed projects
According to data by PropEquity, as of August 2024, as many as 1,981 real estate projects comprising 5.08 lakh units across 42 cities are stalled. This includes 1,636 projects totalling 4,31,946 units in 14 tier I cities and 345 projects totalling 76,256 units in 28 tier II cities.
BUSINESS
Union budget allowing to declare two houses as 'self-occupied' is a big tax relief, will boost rental housing, say experts
Experts said that investors can now claim “Nil valuation” for two self-occupied properties, instead of just one - a positive move for residential real estate investment.
BUSINESS
Union government announces Urban Challenge Fund of Rs 1 lakh crore in budget 2025 for redevelopment of cities
Union Finance Minister Nirmala Sitharaman said this fund would finance up to 25 percent of the cost of bankable projects with a stipulation that at least 50 percent of the cost is funded from bonds, bank loans, and PPPs.
BUSINESS
Government announces SWAMIH fund 2.0 of Rs 15,000 crore for completion of 1 lakh units in Union Budget 2025
Sitharaman said that under SWAMIH Fund scheme 50,000 dwelling units in stressed housing projects have been completed and keys handed over to homebuyers and another 40,000 units will be completed in 2025 further helping middle class families who are paying EMIs on loan taken for apartment and also paying rent for current dwelling units.
BUSINESS
Economic Survey shows 89 lakh urban houses completed under PMAY, 1.38 lakh housing projects registered under RERA
The Economic Survey 2024-25 said that over 35,000 affordable housing units have been built in 23 cities, under the Smart Cities Mission and 199 projects worth Rs 9,200 crore have been implemented in over 50 cities.
BUSINESS
Delhi NCR, Bengaluru, Kolkata drove record 39.5 msf logistics sector leasing in 2024
The leasing was supported by a supply of 38.6 msf. Mumbai, Chennai, and Bengaluru were the key contributors to the supply, accounting for over half the total.
BUSINESS
Five key demands the real estate sector wants to be considered in Budget 2025
From demand of industry status for the sector to special push for affordable housing, the demand list is long. Builders also want some fiscal measures such as tax rebates on housing loan interest to be enhanced to a minimum of Rs 5 lakh, GST input tax credit and introduction of tax incentive under Section 80C for REIT investors.
BUSINESS
62% of wealthy Indians seek luxury real estate, prioritise capital appreciation over lifestyle upgrade
About 55 percent of respondents in an India Sotheby’s International Realty survey cited capital appreciation as their main reason for investing in luxury residential real estate in 2025, up from 44 percent in 2024.
BUSINESS
DLF sells two penthouses for Rs 150 crore each in 'The Dahlias', records Rs 11,800 crore in pre-sales from the Gurugram project
DLF’s Joint Managing Director and Chief Business Officer, Akash Ohri, said in an interview with Moneycontrol that the company has sold 173 super-luxury apartments in just nine weeks since the pre-launch of its latest luxury venture.
BUSINESS
Adani Realty poised to be among top five Indian realtors after potential Emaar deal
Emaar India has a significant presence in key markets such as Delhi-NCR, Lucknow, Mohali, Indore, and Jaipur. Analysts maintain that the acquisition would provide Adani Realty with an immediate entry into North India’s lucrative real estate market.
BUSINESS
A year after Ram temple inauguration, Ayodhya’s real estate boom takes a pause
Ayodhya’s real estate market may have been overheated, given the over 60% drop in searches for residential property in the October-December 2024 quarter. Real estate experts say this signals a shift in investor interest, likely influenced by market saturation and a natural cooling after a period of heightened activity.
BUSINESS
Delhi RERA to make it compulsory for builder to advertise and sell projects on carpet area only
The Delhi body's guidelines will reinforce what has been laid out under the law governing real estate, that the carpet area should be mentioned in all promotional material.
BUSINESS
Ghaziabad’s Harnandipuram township gains momentum as GDA invites objections to land acquisition
About 521 hectares of land is required for the new housing project, which will be developed on the lines of the existing Indirapuram township.
BUSINESS
Arrest of labourer in Saif Ali Khan attack case triggers debate on background checks; developers say full identity verification 'impossible'
Developers and construction industry insiders say that the task of verifying worker identity and background largely falls on labour contractors.
BUSINESS
Housing sales drop by 26% in eight cities in Q42024; Delhi-NCR sees uptick
Real estate experts say that the drop in housing sales can primarily be attributed to the assembly elections in Maharashtra and Haryana and to elevated property prices.
BUSINESS
Land Ahoy: UP govt will map vacant industrial plots to unlock growth
There are over 42,000 industrial units in the areas developed by nine industrial bodies across the state, over 15,000 of which are in Gautam Budh Nagar alone.
BUSINESS
Will Union Budget 2025 revive India's affordable housing segment?
According to ANAROCK data, the sales share of affordable housing fell to a mere 18 percent in 2024 from over 38 percent in 2019. Similarly, its share of total housing supply in the top seven cities dropped to 16 percent in 2024 from nearly 40 percent in 2019.
BUSINESS
Land deals up 48% in 2024, Delhi-NCR leads the pack
More than 40 land deals were reported in the Delhi-NCR micro-market, with Gurugram accounting for 60 percent of the transactions followed by Noida and Greater Noida
