BUSINESS
Axis-Tishman Speyer real estate fund acquires Chennai land parcel to develop 4 lakh sq ft of office space
Located in Nandambakkam, the land is valued at Rs 50 crore per acre, sources said.
BUSINESS
UK's NatWest Group leases office space in Bengaluru at massive monthly rental
Bengaluru is a strategic location for NatWest Group in India, and sources say the average rent at the building could be between Rs 1.5-1.8 crore every month.
BUSINESS
LTCG Tax Rollback: Major relief for middle-class homeowners, property prices may be impacted
This comes after a major backlash from the real estate sector, including the middle-class homeowners, for higher tax liability without the indexation benefit to factor in the market inflation.
BUSINESS
House of Abhinandan Lodha to invest over Rs 1,250 crore in new land acquisitions across India in FY25
The company expects to have about 700 acres of development by March 2025 and an additional land bank of 1,000 acres, its chairman told Moneycontrol.
BUSINESS
RMZ Corp, CPP Investments sells Chennai office space to Keppel Ltd for over Rs 2,200 cr
One Paramount 1 is part of One Paramount, a Grade A prime office asset located in Chennai developed by the real estate joint venture between RMZ and CPP Investments.
BUSINESS
KRERA orders Developer to refund entire apartment cost for failure to deliver possession within 12 months
This comes as Bengaluru faces over 26,030 delayed projects, totaling more than Rs 28,072 crore, with some projects running behind schedule by over 4-5 years.
BUSINESS
Budget 2024-25 failed to boost shrinking affordable housing segment, say developers
According to a recent report by ANAROCK, the share of sales in affordable housing has decreased from 37% five years ago to 20% in 2023. In Bengaluru, housing sales fell by 2 percent in January-March quarter of 2024 as compared to the same period in 2023.
BUSINESS
Between Jan-June, Millennials, Gen Z bought more than 60% of properties on listing platform in Bengaluru
Property transactions by millennials and Gen Z saw a 10% increase, compared to the same period in 2023. Nearly 32 percent women preferred to invest in real estate, either as sole or co-owners.
BUSINESS
Bengaluru leads GCC leasing in India with 15.3 mn sq ft of absorption in 2023: Experts
According to Ernst and Young estimates, it is expected that by the end of 2024, the total revenue generated by all GCCs operating in India will be around $46 billion.
BUSINESS
Budget bonanza: Land prices in Amaravati may shoot up by 40-50 percent in 1-2 months, say experts
The city's commercial real estate has the potential for significant growth in the mid to long term, experts say. The key will be effective government action, attracting major players, and capitalising on planned infrastructure development.
BUSINESS
Budget tweaks on real estate tax: Who gains and who loses?
The new regime may also be beneficial for short-term property investors in metro markets, where the prices are appreciating quicker. Experts say these changes may hurt sentiments when it comes to investments in Tier II cities — where property prices appreciate much slower than in metros.
BUSINESS
Budget 2024 focuses on tackling urban housing woes; experts say many issues remain unaddressed
Experts say the Union Budget has not addressed some of the key demands of the real estate sector, including granting of industry status, input tax credit, reduction of GST and single window clearance.
BUSINESS
FM Sitharaman allocates Rs 15,000 crore for Andhra Pradesh infrastructure, development of Amaravati
This comes as a major push to the real estate sector in Amravati after CM Chandrababu Naidu announced on June 11 that Amravati would be the sole capital of Andhra Pradesh.
BUSINESS
Budget 2024: Coworking sector anticipates tax reforms, single-window clearance
Experts say that the need for a one-window clearance system will expedite the establishment of new coworking spaces in non-metropolitan areas, allowing operators to grow effectively.
BUSINESS
Economic Survey 2024: Govt targets 20,000 delayed homes annually in 3 years under SWAMIH Fund
About 4.1 lakh stressed housing units, involving Rs 4.1 lakh crore, are affected, as estimated by the Indian Banks' Association (IBA).
BUSINESS
Budget 2024: Will Nirmala Sitharaman's 7th Budget revive the shrinking affordable housing segment?
Share of affordable housing sales decreased from 37 percent five years ago to 20 percent in 2023.
BUSINESS
EXCLUSIVE: Embassy REIT may sell Quadron office campus in Pune, expects more than Rs 1,200 cr
Embassy Quadron a leasable area of 1.9 million sq ft. Marketing for the deal starts this month, with a sale expected next year.
BUSINESS
Karnataka HC order to prosecute Ozone Group promoters to recover money hits a roadblock: RERA lacks provision
Experts say making promoters part of the execution proceedings is a challenge since the real estate law as it stands does not have the stipulation that allows for this.
BUSINESS
Budget 2024: Coworking, senior living sectors anticipate major policy reforms
Experts add that the upcoming budget can consider lowering the GST rate for small-scale coworking clients, which will incentivise startups, expand the sector's reach and ultimately benefit government revenue.
BUSINESS
Budget 2024: Real estate sector demands industry status, tax rebate on housing loan interest
Budget 2024: Builders have also demanded that tax rebate on housing loan interest should be enhanced to a minimum of Rs 5 lakh. Developer bodies like NAREDCO have demanded the roll out of the second tranche of the SWAMIH fund.
BUSINESS
Lloyds Group promoter's family buys Rs 107-crore property in Worli
The apartment is located in the luxury Sea Crest building — a 40-storey sea-facing project with less than 20 exclusive apartments. The property has 16 car parking slots and the apartment was sold at Rs 81,133 per sq ft.
BUSINESS
After Big B, Bollywood actress Kriti Sanon buys 2,000 sq ft premium plot in Alibaug for Rs 2 crore: Sources
The plot is located in HoABL's project the Sol de Alibaug and the deal was signed on July 11.
BUSINESS
KRERA orders Mantri Developers to pay half of total apartment cost to homebuyer for delay in possession
The regulator asked the developer to pay Rs 48.5 lakh for delaying possession of an apartment at Mantri Webcity 2A on Hennur Road for almost 7 years.
BUSINESS
Bengaluru landlords start compromising on apartment rents as techies move away from IT corridors
Today, with the mismatch between demand and supply of rental inventories tapering, several landlords have started decreasing rentals by Rs 10,000-15,000, even in prime locations like Koramangala.
