HYDERABAD HOUSE
Hyderabad IT company CEO abducted, his passport, 84 laptops stolen. Eight employees arrested
Eight individuals arrested for abducting CEO over unpaid salaries in Hyderabad. Police recover stolen items and rescue victim. Former employees file complaint for salary arrears. Founder's financial difficulties led to the incident, said the CEO's mother. Police investigating multiple criminal activities related to the case.
Housing sales fell by 6% during the April-June quarter
Housing sales in India's top markets dip by 6% in Q2 2024, except for Bengaluru and Delhi-NCR. Anticipation of a pro-investment budget post-election impacts buyer decisions. New supply decreases slightly by 1%. MMR, Pune, and Bengaluru dominate both sales and new launches. Thane West, Panvel, and Dombivali emerge as top localities for sales and launches.
HDFC Capital bets big on affordable housing, to invest $2 billion by 2025 end
The world's largest affordable housing platform that counts Abu Dhabi Investment Authority (ADIA) as its key investor is in the process of achieving its medium-term goal of financing 1 million affordable homes in India through existing platforms set up with leading developers.
Hyderabad’s Anvita group to invest Rs 2,000 crore in a residential project
Anvita Group plans to invest Rs 2,000 crore in a residential project in Kollur, near Hyderabad. The project will be developed in two phases, with the first phase consisting of 450 units spread over 12.9 acres. The second phase will consist of 36-floor towers, with 1,400 units expected to be handed over in 2027. The project will include two and three-bedroom apartments.
Telangana in talks with CDAC to set up 20 petaflops compute capacity in Hyderabad
Telangana has requested the IT ministry to establish compute capacity in the proposed AI city in Hyderabad under the National Supercomuting Mission, saying that the Centre for Development of Advanced Computing (CDAC) has shown interest for the same. If the government agrees, some land will be given to them to set this up, Telangana IT secretary Jayesh Ranjan told ET.
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Housing sales likely to fall 2 pc in Apr-June to nearly 1.2 lakh units across top 9 cities
Housing sales estimated to decline 2% to nearly 1.20 lakh units in current quarter across major cities, mainly due to lower demand in Hyderabad and Pune, as per PropEquity data.
Last rites of Ramoji Rao held in Hyderabad, TDP chief Chandrababu Naidu attends funeral
Industrialist and media mogul Ramoji Rao's last rites were held at Ramoji Film City in Hyderabad with state honors. TDP chief N Chandrababu Naidu and senior IAS officers attended the funeral. The Andhra Pradesh government declared state mourning on June 9 and 10. Top leaders including President Droupadi Murmu and PM-designate Narendra Modi paid tribute to Rao, praising his contributions to media and entertainment.
Unsold housing stock up 24 per cent in top 7 cities, builders need 22 months to sell: Report
Unsold housing stocks in seven major cities have risen by 24 per cent since 2019, totaling about 4,68,000 units in March 2024. However, realty firms are expected to sell them 31 per cent faster due to high sales velocity, according to JLL India. The time to sell the active unsold inventory has decreased from 32 months in 2019 to just 22 months in Q1 2024, driven by a surge in housing demand.
Hyderabad housing market seeing significant trend towards luxury homes: NAREDCO President
The Hyderabad property market is witnessing a surge in demand for luxurious homes with spacious layouts and modern amenities. G Hari Babu, National President of National Real Estate Development Council, discussed rising property prices and evolving market dynamics. Factors include government policies, unlimited FAR, and infrastructure development, driving significant growth in both residential and commercial sectors.
GIC, Xander buy Allianz-Shapoorji Pallonji JV’s Hyderabad IT SEZ WaveRock for Rs 2,200 cr
In May 2023, ET first reported that global insurance and asset management major Allianz Group and Shapoorji Pallonji Group were looking to exit the IT Special Economic Zone (SEZ) property and that GIC had emerged as the frontrunner to acquire the 2.4-million-sq-ft asset.
Union Bank invests Rs 250 crore in Hyderabad realty co’s luxury housing project
Company’s project The Megaleio will be spread in over one million sq ft area and will need to Rs 800-900 crore. While the funding raised from the bank will be used to start the construction, balance work will be done through the sales receivable, which is more than Rs 1,200 crore.
High-value homes drive Hyderabad residential market
Hyderabad's residential property market in 2024 saw a 15% increase in property registrations and a 40% surge in transaction value, driven by demand for premium homes. Knight Frank's report revealed 26,027 properties registered, totaling Rs 16,190 crore.
Bifurcation blues: 10 years later, several issues remain unresolved between AP, Telangana
After a decade, Andhra Pradesh and Telangana still face unresolved issues post-bifurcation, including asset division and power bill dues. Hyderabad's transition to Telangana on June 2 as per the AP Reorganisation Act 2014 remains complex. Challenges persist in dividing Schedule 9 and Schedule 10 institutions, influenced by the Sheela Bhide panel's recommendations and disputes over employee transfers.
Housing prices in this Bengaluru area jumped 32% in Q1; know how much property prices have risen in your city
Average housing prices in Bengaluru have increased by 19% year-on-year (YoY) in the January-March quarter of 2024. It was the highest increase in residential prices among the eight cities, according to a report released by CREDAI and Colliers Liases Foras. Check how much property price has risen in your city
Piramal invests ₹300 crore in Cybercity's Hyderabad villa project
Piramal Capital & Housing Finance has invested nearly ₹300 crore in a villa development project by Cybercity Builders & Developers in Hyderabad. The funding will also be used to acquire land Cybercity Developers bought from Phoenix Group. Piramal Enterprises plans to merge its subsidiary, Piramal Capital & Housing Finance, with Cybercity Builders & Developers.
Luxury housing sale reports 10% growth during Jan-Mach 2024
Luxury segment housing in top cities grows 10% Y-o-Y, Mumbai leads. Anshuman Magazine cites robust fundamentals. Gurgaon emerges as luxury market with eco-friendly features. Jubilee Hills sees luxury demand.
N Chandrababu Naidu promises Rs 1 lakh Haj aid if NDA elected to power
N Chandrababu Naidu, leader of the TDP, announced a financial aid promise of Rs 1 lakh for Muslim pilgrims visiting Mecca if the NDA, comprising TDP, BJP, and Janasena, wins the Andhra Pradesh government. He made this pledge during an interaction with the Muslim community in Nellore. Naidu highlighted the TDP's past initiatives for Muslims, including granting state festival status to Rotiayaan ki Eid and establishing Urdu university and Haj Houses. He criticized the current YSRCP government for not supporting the Muslim community and alleged their support for the NRC. Naidu emphasized the Muslim community's values and work ethic.
Actress Raashii Khanna joins Hyderabad's property boom with third home purchase
Actress Raashii Khanna has recently purchased her third home in Hyderabad, where she hosted a housewarming ceremony attended by family and close friends, as seen in social media posts. This marks her third property acquisition in Hyderabad, following purchases in 2015 and 2017, according to reports.
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