Page 16 - Real Estate

Blackstone buys TARC's warehousing asset in north Delhi for Rs 295 cr

Realty firm TARC Ltd on Monday said it has sold a warehousing asset in the city to global investment firm Blackstone for Rs 295 crore. TARC Ltd has said in a statement that it has completed the sale of its warehousing asset in North Delhi to BREP Asia II EIP Holding (NQ) Pte Ltd, an affiliate of funds controlled, managed and/or advised by Blackstone Inc (BREP). The total consideration of the deal is Rs 295 crore. TARC Ltd wants to focus on core development projects to unlock much higher value through its strategic and key land parcels in the national capital. The deal is in line with its strategy to become a debt-free company, develop its huge land bank and look for new developments in the National Capital Region, the statement said. TARC Ltd plans to use a part of the proceeds to fast track the residential projects, consolidating its strategy to develop higher yielding, future ready projects. The company is looking for similar opportunities with Blackstone and other global Funds

Sales of listed realty firms just 50% of highest Q4FY19 figures

The Q4 of FY19 sales numbers excluded those of property developer Macrotech promoted by the Lodha group

Puravankara eyes bigger share from commercial properties in 4-5 years

It is looking to develop commercial properties in Bengaluru, Hyderabad, Chennai and Mumbai and Pune, is aiming at 8.5 mn sq ft in next 3-4 years

Deals or distress: Realtors expect 25-30% jump in sales this festive season

Home sales grew 67 per cent in the first half of 2021 due to growth in markets like Pune and Mumbai

India's red-hot property stocks seen extending run on demand surge

India's property market is rebounding after being in a down cycle for the last six years as a series of headwinds ranging from the pandemic, a bad-loan crisis and a surprise 2016 cash ban hurt demand

Raymond Realty has expansion plans for several parts of Mumbai

To develop 17 msf of saleable area in next five years

Looking to invest in a luxury property? Pin code is the key, say experts

Early entry in emerging destinations could fetch good returns, say experts

Bungalows and villas edge out apartments as dream houses in Covid times

Emerging need for more space, greenery, light, ventilation and privacy are driving demand. If you're buying one, ensure the title is clear and the plans are duly sanctioned

Eldeco Infra, HDFC Capital float platform for low-rise plotted development

Projects will be undertaken by SPV with initial outlay of Rs 150 cr; two projects identified in Panipat and Faridabad with combined saleable area of 1.5 mn sft, potential sales of Rs 500 cr

DLF 3.0: Realtor ventures into new territories after four decades

DLF's tryst with the MMR market is not completely new. It has had smaller joint ventures and land ownership projects in the region earlier

Govt aims to garner Rs 15,000 cr from monetisation of realty, hotel assets

The Centre plans to monetise real estate assets worth an estimated Rs 15,000 crore, including several housing colonies in the national capital and eight ITDC hotels

I Squared Capital invests $200 mn in Singapore-based AG&P City Gas

AG&P City Gas is developing twelve city gas distribution networks in India

Mumbai: A-list realtors queue up to enter one of world's priciest market

Increasing demand for luxe housing, accommodative state policies and decadal-low home loan rates could be some of the triggers

Street signs: MFs bet on easier compensation rules, India VIX surges & more

Officials in the industry believe that the market regulator might give some concessions on the aspect of key employees of the fund houses

Vacancy levels at 3 REITs set to rise another 300 bps

Work from home, second wave have deferred leasing decisions by occupiers

How Anarock Capital MD Agarwal built a solid reputation brick by brick

The pandemic hasn't disrupted Shobhit Agarwal's ambition, and his search for the next big deal

Ajmera Realty expects Rs 4,000 cr revenue in 3-4 years from 7 projects

The city-based developer Ajmera Realty is expecting around Rs 4,000 crore in topline from the upcoming seven projects which need an investment of around Rs 2,500 crore, a top company official has said. The company, which had a revenue of Rs 330 crore in the pandemic-hit FY21, is expecting to close FY22 with Rs 500 crore and has started off the fiscal on a robust note with the June quarter sales touching Rs 134 crore. It earned a profit of Rs 10.26 crore in Q1, up from Rs 2.10 crore in June 2020. The proposed seven projects are coming up in Mumbai (four, one of which is a relaunch in the Mulund area), Pune (two) and one in Bengaluru and will have a saleable area of around 2 million sqft when fully developed. "We are expecting topline to grow by Rs 4,000 crore from these seven projects and have budgeted around Rs 2,500 crore of investment in these projects," Dhaval Ajmera, director of Ajmera Realty & Infra, told PTI on Monday. "Despite the pandemic we almost doubled our sales in the

The unfairness of real estate bankruptcy resolution

'Real estate bankruptcy laws ought to be completely overhauled to right this egregious wrong', said the author

Realty firm Sobha Q1 profit up 73% at Rs 11 cr

Realty firm Sobha Ltd on Saturday reported a 73 per cent rise in its consolidated net profit at Rs 11.4 crore for the quarter ended June.

Mindspace REIT to distribute Rs 272.8 cr to unitholders for Jun quarter

Mindspace Business Parks REIT on Friday reported a net operating income of Rs 359.6 crore and will distribute Rs 272.8 crore to unitholders for the quarter ended June 30.