Page 29 - Real Estate
PE investments in real estate down 40% at $4.06 billion in 2020
The pandemic played spoilsport
 "PE investments in real estate down 40% at $4.06 billion in 2020")
NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe
The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife. The tribunal observed that the applicants including Sunil Goel are the shareholders, promoters and were directors of Omaxe Ltd and also have considerable shareholding and interest in its holding company Guild Builders. Moreover, none of the members of Omaxe is eligible to file an application under Section 241 of the Companies Act, 2013 against the company over the allegations of oppression against minority shareholders. While granting the waiver, NCLT observed that individually, the petition
 "NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe")
Housing sales in October-December jump 25% across seven cities
The rise was helped by pent up and festive demand, according to data analytic firm PropEquity
 "Housing sales in October-December jump 25% across seven cities")
Labour turns to agri, construction as manufacturing fails to create jobs
Manufacturing accounted for 40 million jobs in 2019-20. In the first quarter this dropped to 24.6 million, implying a loss of over 15 million manufacturing jobs
Godrej announces first close of $500 million office development platform
This is the 3rd India focused office venture and 5th overall, sponsored by GFM
 "Godrej announces first close of $500 million office development platform")
New launches pick up, but home sales yet to revive amid Covid-19 pandemic
New launches bounced back - registering 12 per cent growth in the October-December quarter.
 "New launches pick up, but home sales yet to revive amid Covid-19 pandemic")
Banks vote in favour of Piramal offer for DHFL, see holes in Oaktree bid
With this Piramal succeeds in getting the requisite 66 per cent voting, says source
 "Banks vote in favour of Piramal offer for DHFL, see holes in Oaktree bid")
Strike a deal quickly as home prices likely to head north in 2021
A recent report from Jefferies says a new cycle could begin this year as both end users and investors reenter the market
 "Strike a deal quickly as home prices likely to head north in 2021")
Budget: One-time recast to tax sops, slew of measures in realty wish list
NAREDCO has sought removal of the Rs 2 lakh limit on income tax deduction on housing loan interest.
 "Budget: One-time recast to tax sops, slew of measures in realty wish list")
DLF-Hines JV to invest Rs 1,300 cr on construction of Gurugram project
Realty major DLF and US-based Hines will invest around Rs 1,300 crore to construct the first phase of a premium commercial project, largely office space, in Gurugram, a senior company official said.
 "DLF-Hines JV to invest Rs 1,300 cr on construction of Gurugram project")
NCR residential sales grow 43% in Oct-Dec on festive discounts: JLL
The National Capital Region (NCR) witnessed a quarter-on-quarter growth of 43 per cent in the sale of housing units during the October-December period
 "NCR residential sales grow 43% in Oct-Dec on festive discounts: JLL")
Chennai residential sales up by 59 per cent to 2,500 units in Dec quarter
According to JLL, sales were concentrated in the southern suburbs submarket which accounted for 60 per cent of total the sales in the quarter
Budget 2021-22 wishlist: Here are the key challenges in real estate sector
Given the market / pandemic situation, there is an overall fall in the fair market values of properties
 "Budget 2021-22 wishlist: Here are the key challenges in real estate sector")
Statsguru: Recovery uneven, but upturns expected in banking, construction
Construction may grow at 4.4 per cent in H2 - significantly better compared to other major sectors. If this really happens, it could help reverse the job losses in the informal sector to some extent
 "Statsguru: Recovery uneven, but upturns expected in banking, construction")
Hines' India arm to launch third-party asset management business this year
Globally, its asset management business includes 344 properties (143.7 million square feet). Recently DLF bought Hines' stake in One Horizone Center for Rs 780 crore
 "Hines' India arm to launch third-party asset management business this year")
Will commercial real estate market rebound to pre-pandemic levels in 2021?
2021 should be a year in which commercial asset story will continue to grow and lead the recovery in the real estate sector post pandemic
 "Will commercial real estate market rebound to pre-pandemic levels in 2021?")
Realty shares rally as Maha govt slashes premium for construction by 50%
Sobha, Indiabulls Real Estate, Sunteck Realty, Oberoi Realty and Godrej Properties surged between 5 per cent and 7 per cent on the BSE.
 "Realty shares rally as Maha govt slashes premium for construction by 50%")
Mahindra Lifespaces to raise number of launches, eyes sales of Rs 2,500 cr
The company's stock has risen 95 per cent since beginning of FY21
 "Mahindra Lifespaces to raise number of launches, eyes sales of Rs 2,500 cr")
Sale of over Rs 50L homes account for 57% of total home sales in H2 2020
During 2020, while unsold inventory levels improved, sluggish sales velocity in the middle of 2020 saw quarters taken to sell rise to an average of 10.1 quarters
Quarterly absorption of office space reaches Q1 levels in Q4CY2020
Hyderabad led the pack with the highest net absorption in Q4CY2020
 "Quarterly absorption of office space reaches Q1 levels in Q4CY2020")
