Page 17 - Real Estate

Brookfield India REIT operating income up 4% in June quarter to Rs 170cr

Company to distribute Rs 182 crore to unitholders

Home truth: NCR's unsold inventory dips 26% since RERA, shows data

While it continues to take the strain of 328,000 stalled units launched before 2015, unsold units since early-2016 have come down 26 per cent

Realtors' body Credai seeks input tax credit under GST for developers

Realtors' body Credai on Tuesday demanded that input tax credit (ITC) under the GST regime should be allowed to developers, saying this could lead to a reduction in housing prices by 10 per cent.

'Chawl' revamp to slash Central Mumbai realty prices by up to 25%

Experts say over the next decade, 12-million sq. ft development will transform the micro markets of Worli and Lower Parel into a mid-market affordable housing settlement

Oberoi to Hiranandani, top Mumbai realtors turn to building redevelopment

Tata Realty, the real estate arm of Tata Sons, is also looking to redevelop residential buildings in South Mumbai

Lodha group forms 4 JVs in Q1 for realty projects, eyes 2 JVs every quarter

Macrotech Developers, which sells properties under Lodha brand, has formed four JVs in April-June to build projects of Rs 3,500 crore, eyes two such tie-ups every quarter, a top company official

Second wave: MahaRERA grants six-month extension to developers till October

The Maharashtra Real Estate Regulatory Authority allowed a six-month relief to builders to deliver projects by accepting their demand for invoking the force majeure clause because of the second wave.

Real estate experts hail central bank decision to hold interest rates

Abheek Barua, Chief Economist of HDFC Bank, said the RBI has continued with its line of supporting growth despite the recent spikes in inflation.

Square Yards Q1 gross profit up 14% to Rs 32cr; revenue up 50% to Rs 101cr

Real estate consultant Square Yards on Thursday said its gross profit rose 14 per cent to Rs 32.2 crore, while revenue was up 50 per cent to Rs 100.8 crore for the quarter ended June. Square Yards, which is into property brokerage and mortgage businesses, has presence in India as well as overseas. In a statement, the company said the Gross Transaction Value (GTV) rose 79 per cent to Rs 2,196.9 crore in the first quarter of this fiscal from Rs 1,228.7 crore in the previous year. Tanuj Shori, Founder and Chief Executive Officer, Square Yards said, We had a phenomenal start to the year, with very strong growth metrics along with a solid profitability profile." "We will continue to make investments in ramping up our distribution capacity and building blocks of new business segments like home interiors, rentals & SaaS," he added. Last month, Square Yards raised USD 25 million (about Rs 185 crore) as debt from Hong Kong-based ADM Capital to expand its business. Anil Ambani-led Reliance

Mumbai leads housing market recovery in Q1; new launches rise 33%

The latest data from Knight Frank shows that property registration in the largest market - Mumbai Metropolitan Region - hit a decadal high in July

Dalmia Nisus Finance invests about Rs 80 cr in 2 realty projects

Dalmia Nisus Finance Investment Managers LLP, an alternatives manager, has invested this amount from its Real Estate Credit Opportunities Fund - I

Macrotech Developers to meet Rs 9,000-cr property sales target in FY22

The company's sales bookings stood at Rs 5,970 crore last fiscal year

We look to continue the pace of investing: Investcorp's Gaurav Sharma

'Indian conglomerates and companies have realised the importance of both tech and tech-enabled businesses', said Gaurav Sharma

Realty builds on data centres, warehousing amid Covid-19 pandemic

Propelled by online retail and a shift to virtual working and learning, the two segments are driving business for logistics firms at a time when demand for office space has shrunk

629,000 homes valued at Rs 5 trn delayed or stalled in top-7 cities: Report

These projects were launched in 2014 or earlier. Nearly 28% (about 173,730) of these units are completely stalled, the report said

Demand notice must be served properly to buyer

The purchaser couldn't be termed a defaulter since the demand letter had not been served properly, and especially when he paid the amount on receiving a reminder

174,000 flats completely stalled in 7 cities; NCR's share at 66%: Report

Nearly 1.74 lakh homes, worth around Rs 1.4 lakh crore, are completely stalled across seven major cities with Delhi-NCR accounting for maximum 66 per cent, according to property consultant Anarock. In its research, Anarock has taken into account only those housing projects that were launched in 2014 or before. Including both stalled and delayed units, the consultant said the total number reached to 6,28,630 homes worth Rs 5,05,415 crore across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata. Given the huge funding crunch in the construction industry, Anarock said the outlook for people who bought units in completely stalled projects is "disastrous", while the prospects for buyers in heavily delayed projects are "bleak at best". Prashant Thakur, director and head (research) at Anarock, said: "As of H1 2021-end, we have nearly 6.29 lakh units that are yet to be completed across the top-seven cities." Anarock said the overa

Sunteck Realty Q1 profit at Rs 3 cr; revenue up 52% at Rs 96 crore

The Mumbai-based developer had posted a net loss of Rs 3.08 crore in the year-ago period.

Amid Covid, Mumbai sees 10-year high in property registrations in July

Normally, properties need to be registered within three months of the purchase

Mumbai mega makeover has big opportunities for both realtors and residents

Real estate companies say that if planned properly, the eastern corridor can rejuvenate Mumbai