During the previous year 2021-22, real estate consultant Anarock noted that 44 land deals accounting for about 1,649 acres were closed across various cities.
Developers are offering gold coins and gift vouchers to shore up demand, which has been somewhat dented as home loan interest rates have jumped from 6.5 to 9 percent.
The residential brokerage firm said that housing sales rose to 85,850 units across eight cities in January-March 2023 from 70,630 units in the year-ago period. New launches grew 86 per cent to 1,47,780 units -- highest in a quarter -- from 79,530 units.
A price cut will not guarantee survival but the odds of it will certainly rise.
Banks are cutting lending rates after spurt in deposits following demonetisation of old high denomination currency notes of Rs 500/1,000.
Altico entered into a multi-project financing arrangement with Marvel Developers, Pune. Additionally, it concluded its second transaction with Midcity group, a developer having brownfield projects focused on society redevelopments in prominent locations in Mumbai.
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'Play it safe' approach of the Modi government is delaying key infrastructure projects in sectors like road, ports and power, Assocham report has said.
According to property consultant Cushman & Wakefield, cities such as Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune had together witnessed a launch of 1,74,400 housing units during 2013. Barring Chennai and Kolkata, the other six cities saw fall in the number of launches.
Now the state government owns all the sand within its borders, but the business of digging it up, and loading and transporting it to the end user is handed off to private contractors and somewhere along the way and the state loses out.
Developers hoped that RBI would soon be able to cut policy rates as inflation is expected to ease.
The real estate industry has been beset by problems that have been coming from all the possible quarters. They include the current economic crisis, abnormal inflation levels and not to mention the unemployment rates in the country.
"Declining affordability and high economic uncertainty are the twin reasons, which would cause property prices in Mumbai to remain subdued, in the near and medium term," said ICRA in a research report.
RMS Builders, one of the leading real estate developers is planning to launch RMS Lifestyle in Tronica City, Ghaziabad, Uttar Pradesh. The project consists of 2/3/4 BHK apartment.
CNBC-TV18's Priyanka Ghosh reports that Mumbai are being spoilt for choice over the last three months as developers rush in with a slew of new project-launches
New launches and discounts offered by real estate developers have resulted in pick-up of sales volumes across cities during January-March, a report by US financial major Merrill Lynch said.
Investment in real estate properties is prudent at any point of time. It can see an appreciation of 10-15% on an average every two years in India, says T Chitty Babu, secretary – CREDAI, the national body for real estate developers in India. He underscores the need of reform measures by the govt. Such action is likely to reduce home prices.
Real estate developers rallied after newspaper Times of India reported on Tuesday some banks were cutting home loan rates for new borrowers, sparking hope of increased property sales in the country.
By focusing on cities with fast income generation, Sobha Developers aims for double digit growth in volumes in FY13.
Real estate developers are waiting for them to be put of the misery that 2011 doled out to them. The sector has not just had to grapple with a loss of reputation with its alleged link to the 2G scam, but also dwindling sales and funding constraints. Priyanka Ghosh of CNBC-TV18 wraps up the year that was.
Real estate developers in Bangalore see outright sale of projects as killing the goose that lays the golden egg.
Post the slowdown in 2008, several real estate developers were forced to put their hospitality business plans on hold. However, a revival at least as far as Bangalore is concerned seems to be on the cards, reports CNBC-TV18’s Sunanda Jayaseelan.
Maharashtra Chief Minister Prithviraj Chavan today said state government has decided to offer an additional 0.33 FSI (floor space index) to real estate developers in the suburbs for a premium.
Hit by concerns of cost increase due to the new Land Acquisition Bill, DLF tumbled more than 7% yesterday. The company is just reviving from the blow it took from the CCI penalty, when the land bill has hit it. Rajeev Talwar, group executive director of DLF joins CNBC-TV18 to discuss the bill.