BUSINESS
Home sales down 11% in July-September; observers cite higher prices, monsoons as reasons
Sales across seven cities stood at around 1.07 lakh units for July-September (till date) as against 1.2 lakh in the same quarter last year. The sales represent an 11 percent decline over the same quarter last year, as well as sequentially, according to Anarock
BUSINESS
Explained: Why developers want GST relief on Joint Development Agreements and input credits
Developers highlighted the contradiction between the government's goal of "housing for all" and the current tax regime which could increase their costs and that os the projects.
BUSINESS
REPL gets SEBI approval for small and medium REIT, to be named ImpactR SM REIT
The new SM REIT will have REPL as its investment manager. SEBI had earlier approved the SM REIT application submitted by fractional ownership platform Property Share, licensed under the name Property Share Investment Trust
BUSINESS
Pursuing Mumbai projects independently, focusing on Pune as a market too, says Sattva Group
In Mumbai, the group has closed its first deal in the premium-luxury residential segment in Sewri, which is to be launched in the next three-to-four quarter pending approvals
BUSINESS
Initial Ayodhya buzz has moderated but still optimistic on sales, says House of Abhinandan Lodha
The number of inbound visitors is holding steady but some airlines have reduced flights to the temple town due to lower-than-expected demand, and the appetite for real estate investment may have also reduced in the city and its surroundings.
BUSINESS
In Mumbai’s transformation journey, slum rehabilitation is being left behind
The Slum Rehabilitation Authority (SRA) lists roughly 1,700 ongoing rehabilitation projects, with over 500 believed to be stuck at various stages of development, as per industry estimates.
BUSINESS
Adar Poonawalla-led entity buys office space in Pune for Rs 395 crore
The deal happened through four transactions, registered on September 11, according to the documents. A total of Rs 27.65 crore was paid as stamp duty for the transaction.
BUSINESS
Acquisition of India Cements to save a 'failing firm': UltraTech Cement tells CCI
The Aditya Birla Group-owned cement maker told the CCI that the proposed deal won't have any adverse impact on competition.
BUSINESS
Pune property registrations in August 2024 mostly flat even as stamp duty collections jump
Data showed that 13,397 registrations were inked in August 2024, compared to 13,021 in the corresponding month in 2023, and 13,731 registrations in July 2024.
BUSINESS
US Fed rate cut to spur more Indian corporates to tap offshore bond markets
Fed chairman Jerome Powell delivered the large 50 bps rate cut, driven by the increased confidence that the US' long battle with inflation had come to an end.
BUSINESS
Malls to grow slower than residential real estate, industry players say
Footfall in malls reduced during the April-June quarter on a sequential basis, as consumer sentiment was affected due to the elections and heat, and anchor tenants such as multiplexes performed poorly. Industry players have identified indoor entertainment venues, along with food and beverage, as a way to attract more footfall.
BUSINESS
MHADA Mumbai housing lottery applications cross 90,000 ahead of Thursday deadline
According to MHADA officials, the authority has received 94,733 applications as till the end of September 16, of which 70,562 paid the earnest money deposit. Officials added that they expect more than one lakh applications by the end of the application process.
BUSINESS
Footfall in major shopping malls dip by up to 10% in April-June quarter, survey finds
The dip in average daily footfall in shopping malls was due to extreme heat, a lack of major film releases, weeks-long parliamentary elections, according to a report by GeoIQ. Of the 30 malls surveyed, only 10 reported an uptick, data shows.
BUSINESS
Puravankara extends Mumbai footprint, to redevelop Breach Candy society
Miami Apartments, which stands on a 2,000 square metre, is Puravankara's first project in the lucrative south Mumbai micro market
BUSINESS
Birla Estates arm buys 24.5 acre land near Mumbai from Hindalco for Rs 537 crore
Birla Estates' arm Ekamaya Property has purchased a large land parcel from Hindalco Industries, a fellow Aditya Birla group company.
BUSINESS
Domestic companies make up nearly half of office space leasing since 2022, shows report
CBRE predicts that the domestic firms will take 60-65 million square feet on rent in the next one year
BUSINESS
As Mumbai suburban rents soar, experts call for key housing policy changes
Driven by post-pandemic demand, redevelopment projects and the increasing influence of brokers, Mumbai’s suburban rents have surged by over 30% in the past two years, leaving tenants grappling with rising costs and uncertain housing arrangements. Maharashtra is yet to adopt the Model Tenancy Act, passed by the central government in 2021.
BUSINESS
Microsoft India buys land worth Rs 520 crore in Pune's Hinjawadi
This is Microsoft India's second major land purchase in Pune, having earlier purchased a 25-acre plot for Rs 328 crore in Pune's satellite city of Pimpri-Chinchwad
BUSINESS
Raigad plotted development micro-market expected to see sales of around 900 plots in 2024, says report
The report said that 462 plots were sold till the end of July 2024 across various plotted developments in the Raigad district, which includes hotspots such as Karjat, Khopoli, the seaside resort of Alibaug, as well as various towns and villages around it.
BUSINESS
Private equity investments in real estate back in play amid more focus on data centres, logistics
Investors and market observers say office spaces are an attractive proposition for investors. Significant capital is expected to be directed to alternative assets such as data centres, warehouses and industrial parks, and purpose-built accommodation, including hotels, for students and senior citizens, and hospitals.
BUSINESS
Cement firms look to turn to bulk buyers amid growing challenges from pricing, margins
Cement prices are expected to be lower in the next fiscal by up to 3 per cent. The correction is likely to happen, as large players continue to consolidate and expand production in a bid to secure a larger market share.
BUSINESS
Dharavi redevelopment project about 'dignity' for a million people, says Gautam Adani
The Adani group is executing the Dharavi redevelopment project through a special purpose vehicle in which it has a 80 percent stake
BUSINESS
CapitaLand Investment to double India funds under management by 2028, to enter real estate private credit business
CapitaLand Investment's current funds under management in India, is at nearly Rs 46,000 crore. It plans to more than double this by 2028, and is looking to expand into data centres, renewables, private credit, and expand its office parks business.
BUSINESS
MC Exclusive | Arbour Investments picks up a stake in prop-tech firm Justo Realfintech for $7 mn
Arbour Investments founder Chirag Mehta told Moneycontrol that the acquisition of the stake unlocks multiple synergies with the company's ongoing and upcoming investments
