Page 37 - Real Estate

India will need to find jobs for additional 90 mn, says McKinsey report

The figures do not include 55 million women who may come back to the labour force to "partially correct the historical underrepresentation"

Paying six per cent interest on flat cost for delay a huge burden: Realtors

While developers say it will be a huge burden for them in addition to penalties under RERA, other experts suggest the apex court verdict would be beneficial for buyers

Construction resumes after 12,000 get 1st installment in J-K's Rajouri

Under Pradhan Mantri Awas Yojana (PMAY) scheme, as many as 12,000 people have received the first installment of Rs 50,000 each in Rajouri district for the construction of their houses."We have set a target of 100 per cent coverage. To begin with, the first installment has been given to 12,000 people of the district," said Sushil Kumar Khajuria, Assistant Commissioner Development of Rural Development department, Rajouri."The PMAY initiative is supporting people here to build their own houses with the help of Jammu and Kashmir administration. It is a big relief for poor as they can live safely in Pukka houses," Khajuria said.Earlier, there were some people in the district who could not build the pucca house of their own, Panchayat officer Abdul Khabbir said adding, "The orders issued by the Centre has given a push to the development here.""Currently, the construction of 15 houses is underway. We are hoping to convert all the Kaccha houses into the Pucca ones in the next two years," ...

Phoenix Mills up 6% on Rs 1,100 cr QIP; Govt of Singapore picks 4.3% stake

Phoenix Mills said it intends to use the net proceeds towards funding growth opportunities including investing in existing and proposed business ventures, acquisitions, & debt service obligation

London mansion fit for an Indian Prince goes on sale for GBP 15.5mn

A sprawling mansion in the heart of London which was the former family home of Maharaja Duleep Singh's son, Prince Victor Albert Jay Duleep Singh, has gone on sale with a price tag of GBP 15.5 mn.

Embassy to merge assets with IBREL, create one of India's largest realtors

The proposed merger will be achieved through a cashless scheme of amalgamation

Embassy Group to merge assets into IBREL to create India's largest realtor

Embassy Group already has around 14 per cent stake in Mumbai-based IBREL and the same will increase to 45 per cent after the merger of assets of these two companies

Gujarat govt approves construction of high-rises of over 70 floors

Gujarat Chief Minister Vijay Rupani has approved construction of buildings of 70 floors or more in five major cities of the state

Loss of urban salaried jobs likely to have debilitating impact on economy

While informal jobs have returned, and even increased after being hit by the lockdown, formal jobs have not

Residential property launches back on track as consumer sentiment improves

Pent-up demand, cheaper home loans, availability of completed units and WFH seen pushing up demand

Puravankara to invest Rs 1,500 cr in warehousing on e-commerce surge

It has tied up with Morgan Stanley as a JV partner for the warehousing business and will be concentrating on Bengaluru followed by Mumbai, Hyderabad, Chennai and Pune

Covid has accelerated need to adopt digital tools in real estate: Reports

Real estate developers should make investment in digital adoption for reducing their operational cost and improving end-products to deal with the challenge posed by the COVID-19 pandemic, according to consultancy firm Bain & Company. The outbreak of COVID-19 has adversely impacted the already weak consumer sentiment in the residential property market and the "demand is likely to be muted until there is economic stability and job security", it said. Bain & Company on Thursday released its report 'Residential Real Estate in India - Unlocking Efficiency and End-Product Efficacy Through Digital.' "In these pressing times, it is imperative that real estate companies make investments in digital adoption to stay ahead," the report said. Internet of things (IoT), digital engineering, advanced project management tools, improved connectivity, data proliferation and adoption of smart phones and hand-held devices, are some technologies that will change operating models in the near term, .

Prestige Estates surges 7% amid report Blackstone may acquire group assets

Blackstone will acquire 100 per cent control of around 20 million square feet of commercial space, including 16 million sq ft of ready and completely leased assets, the report said

India's second REIT to encourage more builders to monetise assets: Experts

The participation of retail investors will also increase in future REITs, enabling them to earn dividend income from fully leased and listed commercial real estate

Sobha Q1 profit plunges 93% to Rs 6.6 crore as business takes hit

Realty firm Sobha reported a 93% decline in its consolidated net profit at Rs 6.6 crore for the quarter ended June as sales and construction activities were stalled because of the Covid-19 pandemic

Looking for a second home? UK, Spain among top destinations: Knight Frank

One in four people surveyed by Knight Frank said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic

DLF reports Rs 180 cr loss before tax on lockdown-induced disruption

Firm's operating revenue plunged 59 per cent year-on-year to Rs 543.6 crore from Rs 1,331.2 crore

Looking for a second home? UK, Spain among top destinations: Knight Frank

One in four people surveyed by Knight Frank, said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic

Domestic realty funds launch stressed funds to tap stalled projects

With very low sales and financing from banks and NBFCs drying up, fund managers expect good returns from their investments, experts said

Domestic realty funds launch stressed funds to tap opportunities

When sales are very low and financing from banks and non banking finance companies are not coming, fund managers are expecting good returns from their investments, experts say