BUSINESS
Worst is over for real estate sector, but more financial support needed: NAREDCO
NAREDCO also said demand for commercial office space is expected to be back to 80 percent of the pre-COVID level after July as more people return to work after vaccination.
BUSINESS
Mumbai-based real estate developer Dynamix Group to invest Rs 350 crore on residential projects
The company plans to launch projects in Goregaon, Malad and Kandivali comprising approximately 1,000 units in 2021
BUSINESS
Bengaluru real estate: COVID-19 sees flurry of property deals worth Rs 10-35 crore
The size of real estate deals in Bengaluru is around Rs 10 crore to Rs 35 crore
BUSINESS
Q3 GDP data: Real estate sector sees improvement in Oct-Dec quarter on rise in demand
With opening up of the economy in a phased manner, construction activities resumed and this was evidently visible during the last quarter of 2020. Similarly, the leasing activities in commercial real estate and sales and launches in residential segment reflected robust signs of recovery.
BUSINESS
Listed developers from Delhi, Bengaluru planning to launch housing projects in Mumbai
As the realty market favours players with a proven record on project execution, pedigree developers see fresh opportunity in Mumbai. DLF, Puravankara lead trend. Maharashtra decision to cut premium on real-estate projects by half till Dec 31, 2021, also attracting builders from other states
BUSINESS
One out of five Indian UHNWIs plan to buy new home in 2021: Knight Frank Wealth Report 2021
Thanks to the pandemic, the ultra-rich are most likely to procure asset in a resort or a coastal area; 46 percent of them are interested in environmental, social and governance (ESG) -focused property for investments
BUSINESS
Global prime residential markets register nearly 2% price rise in 2020: Knight Frank Wealth Report 2021
Auckland tops the PIRI 100 list by registering an annual price rise of 17.5%. Prime property markets in Delhi (-0.1%), Mumbai (-1.5%), Bengaluru (-2.0%), register annual decline in prices in 2020
BUSINESS
India’s ultra-rich population to grow by 63% over next five years, second-fastest globally: Knight Frank Wealth Report 2021
India’s billionaire count to increase from 113 in 2020 to 162 by 2025; Cities with the highest concentration include Mumbai’s with 920 billionaires, Delhi 375 and Bengaluru at 238
INDIA
10 big-ticket property deals inked during COVID-19
Sea-facing apartments, bungalows in tree-lined boulevards in the country’s power district and ultra-luxury homes with private lifts to guard privacy—when the rich and powerful go shopping, they go big. The need for a spacious home with a dash of green was never felt more acutely than it was during the lockdown. A cut in stamp duty in markets like Mumbai made the shopping experience even more gratifying.
BUSINESS
Tollywood actor Nandamuri Balakrishna buys house in Hyderabad for Rs 15 crore
The property is in the Jubilee Hills area of the city which has been seeing quite a lot of action of late. Just last month, a businessman bought an independent house in the same area for a whopping Rs 41.3 crore.
BUSINESS
SWAMIH Fund to deliver over 6,000 housing units by end of FY22; 1,310 to be completed by April 2021
The trust has so far given approvals to 164 projects involving an investment of more than Rs 15,000 crore, which will help complete around 1,00,000 homes
BUSINESS
Has a builder pulled a fast one on you? Here’s what you should know
Stickers for elevators, one swimming pool instead of six, an ugly block of apartments in place of a park—there are thousands of instances of builders failing to deliver on promises. Buyers can seek legal help but can avoid the mess by doing some due diligence.
BUSINESS
IKEA to invest close to Rs 5,500 crore for shopping mall in Noida
The land allotment for the commercial plot located in Sector 51, was transferred by the Noida Authority on February 19 to IKEA. The authority has received Rs 850 crore for the commercial land; Rs 60 crore has also been deposited by IKEA as stamp duty, officials told Moneycontrol
BUSINESS
India Sotheby’s International Realty launches full-service platform White Glove
On offer are services such as tax and wealth advisory, design, mortgage, relocation, home renovation, furniture consignment, asset valuation and even redevelopment
BUSINESS
COVID-19 impact: Real estate market set for consolidation; large developers to acquire mega status, say experts
Consolidation of real estate assets is a reality and the sector is likely to witness more joint developments, joint ventures and development management agreements between small developers and established players
BUSINESS
Mumbai’s luxury rental market bounces back, many deals sealed at pre-COVID rates
January 2021 witnessed the highest number of rent agreements registered in the last five years. As many as 22,655 agreements were registered during the month, against the 21,220 in January 2020.
BUSINESS
Today is the last day to apply for DDA Housing Scheme 2021, window closes at midnight
DDA has so far received around 30,000 applications largely in the high-income and mid-income segments.
BUSINESS
COVID-19 impact: Noida’s stamp duty department likely to incur loss of around Rs 500 crore this fiscal
While property registrations are gradually inching up, the department is behind meeting its revenue target for this fiscal
BUSINESS
Developers woo homebuyers with revamped sample flats in posh ready-to-move-in real estate projects
Real estate firms are roping in designers for ready-to-move-in flats and villas to speed up sales and to ensure that the apartment commands a premium
BUSINESS
Pharma boss buys property in Hyderabad’s posh Jubilee Hills for Rs 41.3 crore
N Venkata Reddy, owner of pharma company Virchow Laboratories, was the buyer of the 1,537 sq. mt. property
BUSINESS
Embassy REIT’s Q3 profit down 15% at Rs 215 crore; firm announces investment of Rs 2,300 crore
To develop 5.7 mn sq ft of commercial space in different cities and locations over the next four years.
BUSINESS
UP RERA cracks whip on Ansal API, deregisters two Lucknow projects
The regulator also found severe financial irregularities, diversion and siphoning of funds amounting to Rs 606 crore for the two projects.
BUSINESS
Prestige Group and Awfis partner to provide 2 lakh sq ft of grade-A flexible working spaces; to invest Rs 40 crore
The collaboration is expected to create 4,000 seats in six strategically located centres across Bengaluru, Chennai and Hyderabad
BUSINESS
Housing sales in India shrink by 31% due to COVID-19; NCR witnesses maximum drop followed by Bengaluru
Unit sales in NCR dropped around 45% to 26,344 units in CY20 over last year, according to the report. The sales value was also lower by a similar percentage at Rs 17,145 crore in CY20
