Page 13 - Real Estate

PE investment in real estate up 24% YoY in July-Sept at Rs 3,500 cr: Report

It fell 45 per cent as compared with the previous quarter

Evergrande's $1.7 bn HK headquarters sale flops as buyer withdraws: Report

The collapse of the talks for the landmark building's sale is another setback for cash-strapped Evergrande, which has been scrambling to divest some assets to repay creditors knocking on its doors

House hunting? Tips on cashing in on festive offers being made by builders

Just make sure you get your math right while striking a deal for a house this Diwali. Often times, the cost of the offer is built into the price of the property

Institutional investment in realty up 17% in July-Sep to $721 mn: Report

Office segment saw a sharp decline in investments

Realty firm Fantasia Holdings loses two directors, days after default

Finding new directors will be a challenge for Fantasia, at a time Chinese developers are struggling to raise cash amid signs of contagion stemming from the crisis at debt-laden China Evergrande Group

Prestige group Q2 sales bookings up 88% to Rs 2,111.9 crore

Real estate firm Prestige Estates Projects Ltd on Monday reported an 88 per cent year-on-year growth in its sales bookings at Rs 2,111.9 crore for the quarter ending September on better housing demand

Uphaar fire: Delhi court convicts Ansal brothers in evidence tampering case

A Delhi court on Friday convicted real estate barons Sushil and Gopal Ansal for tampering with evidence in the 1997 Uphaar cinema fire case. Chief Metropolitan Magistrate Pankaj Sharma also held a former court staff Dinesh Chand Sharma and individuals P P Batra and Anoop Singh guilty in the case. The court is likely to hear arguments on quantum of sentence on Monday. The case is related to tampering with the evidence in the main fire tragedy which had claimed 59 lives, in which the Ansals were convicted and sentenced to 2-year jail term by the Supreme Court. The apex court however released them taking into account the prison time they had done on the condition that they pay Rs 30 crore fine each, to be used for building a trauma centre in the national capital. Two other accused, Har Swaroop Panwar and Dharamvir Malhotra, died during the course of the trial.

Private equity inflow in real estate up 27% in Apr-Sep at $1.79 bn: Anarock

Private equity investment in Indian real estate rose 27 percent to $1.79 billion in the first six months of the current fiscal mainly driven by domestic funds, according to property consultant Anarock

Oberoi Realty Q2 sales bookings jump over 2-fold to Rs 828.52 crore

Oberoi Realty Ltd on Thursday reported over two-fold jump in its sales bookings at Rs 828.52 crore for the quarter ended September on improved housing demand driven by low mortgage rates

Sobha rallies 14% on reporting best ever sales volume in September quarter

The overall sales were primarily driven by good sale numbers achieved in Bengaluru, Gurugram, Pune and GIFT CITY

Affordable housing loan defaults surge to 7.2%, says rating agency Icra

The ultimate losses to lenders could be limited, given the secured nature of loans

Sobha's Q2 sales bookings up 49% at Rs 1,030 cr on improved housing demand

The company had sold properties worth Rs 689.9 crore in the year-ago period.

Financial stress in China property sector spreads beyond Evergrande

A Chinese developer of luxury apartments missed $315 million in payments to lenders

Arihant Superstructures to raise up to Rs 500 core through securities

Realty firm Arihant Superstructures Ltd plans to raise up to Rs 500 crore through issuance of securities. In a regulatory filing, the Mumbai-based firm said the board of directors approved raising of up to Rs 500 crore by issuance of securities. The issue of securities could be through private placement, preferential issue, qualified institutions placement (QIP), follow-on public offering ("FPO"), or a combination thereof. The proposed fundraising is subject to shareholders' approval and other regulatory approvals. The shareholders' approval would be obtained through Extra-Ordinary General Meeting in due course. The board of directors has also constituted a fundraising committee for this purpose.

RMZ Corp appoints Avnish Singh as MD-Investment Management

Bengaluru-based realty firm RMZ Corp has appointed Avnish Singh as Managing Director, Investment Management. RMZ Corp is a privately-owned real estate owner, investor, and developer. Singh will be instrumental in driving RMZ's growth, across India. His role will include new project acquisitions and capital raising to fuel the firm's hyper-growth strategy while forging new global partnerships and strengthening the current relationships. A founding member of JLL with over 20 years of experience, Singh has worked at Tishman Speyer and GE Capital Real Estate, the company said in a statement. He is an alumnus of Harvard Business School, ICFAI, Fergusson College, and Gokhale Institute of Politics & Economics. RMZ Corp aims to propel its current 67 million square feet of real assets, valued at USD 10 billion, to 87 million square feet which will be valued at USD 15 billion by 2026, the statement said.

Chinese developer misses bond payment, as stress spills beyond Evergrande

A mid-size Chinese real estate developer failed to make a $205.7 million payment due to bondholders Tuesday

China crisis set to worsen as Evergrande rival Fantasia misses payment

Once China's top-selling property group, Evergrande is facing one of the country's largest-ever defaults as it struggles with more than $300 billion of debt

It's important to have model builder-buyer agreement: Supreme Court

The bench said that it is an interesting matter as it has earlier dealt with Real Estate Regulations Act and knows its importance

Evergrande Group's trading halted in Hong Kong as debt test looms

Uncertainty over firm's over $300-bn debt load continues to plague investors

SC refuses to modify its order on demolition of Supertech's twin towers

The top court said that a grant of such relief is akin to reviewing the judgements of this court and such an attempt is impermissible in a miscellaneous application filed by the realty firm