KARNATAKA REAL ESTATE
Why new-age EV manufacturers are picking nimble neighbouring states over Karnataka
Karnataka has excellent facilities, but states like TN are more proactive, say industry executives; for some firms, market proximity is key reason to set up facility.
Fashion & Apparel sector emerge front-runners in India's retail landscape: JLL
The report further says a positive outlook in the organised retail market is seen post COVID-19, the sector has witnessed a surge in the launching of new infrastructural development across urban centres and emerging cities. In the first quarter of 2024 (Jan-Mar) 1.1 million square feet of retail spaces were leased.
Gopalan Enterprises targets Rs 500 crore rental income over 4-5 years
Real estate developer, Gopalan Enterprises, part of Gopalan Group, aims to increase its office rental income to Rs 500 crore annually and could list its assets as a real estate investment trust (REIT) in the next four-five years, a senior company executive said.
Strata Buys Puma HQ in Bengaluru for Rs 115.4 crore
Strata, a major Indian real estate investment platform, acquired 140,000 sq ft office space in Bengaluru for Rs 115.45 crore, housing Puma's headquarters. Sudarshan Lodha, CEO, confirmed the deal, marking Strata's eighth asset in Bengaluru and crossing Rs 410 crore in Karnataka transactions. The company eyes more acquisitions to expand nationwide.
Radhakishan Damani’s DMart buys land in Mumbai’s Chandivali for Rs 117 cr
The billionaire Radhakishan Damani-promoted company has paid a stamp duty of Rs 7.03 crore for the transaction that was registered on May 6, according to documents accessed through real estate data analysis platform CRE Matrix.
Inclusion of foreign workers in PF unconstitutional, says High Court
The move, which is likely to be challenged by govt and the Employees Provident Fund Organisation (EPFO), will impact thousands of expatriates who have contributed to the social security scheme or are currently part of it.
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Regulatory tightening over? Time to revisit. 5 housing finance stocks with upside potential of up to 39%
To some the news of the possible changes in project finance by banks and other sectoral lenders might appear to have come out of the blue. But the fact is that RBI has been in a process of tightening and cleaning up the system of every segment and subsegment of banking and financial services for more than the last one and a half years. Infact the first set of companies where the tightening of the norms was implemented were housing finance companies. Right from raising capital to disbursement norms, everything was tightened. Whenever there is tightening of norms, stocks from that sector tend to correct. Same has been the case with housing finance companies, they have underperformed in the last one year of bull run. But as the companies adjust to new norms, there will be some players who probably would make a comeback faster. Given the fact that despite all the problems which the sector has faced, it has still grown on an overall basis and there is no reason to believe that this will not happen in future.
HC strikes down inclusion of foreign workers in PF, calls it unconstitutional
HC's call will likely face resistance from the govt and the PF body because already a large number of expats have either contributed to or are currently enrolled in the social security program.
Prestige Estate Projects set to double hospitality portfolio with Rs 1,700 crore investment
Prestige Estate Projects plans to double its hospitality portfolio over the next three to four years, investing Rs1700 crore. The company currently manages 1849 keys of hospitality assets across India, with the potential to generate revenue of Rs 1800 crore. The company is exploring new markets and expanding its portfolio in existing ones. The hospitality assets are generating an average occupancy rate of 70%, and the company is evaluating monetizing the portfolio to unlock value and alleviate cash flow stress.
Bengaluru: Water, end to congestion on roads top demands from techies who voted
The young professionals, who came out to vote in soaring temperatures, said they wanted strong solutions for the city whose tech corridor had been bruised by both flash floods and punishing drought in a span of two years.
Sumadhura Group expands footprint with 40-acre land acquisition in Bengaluru's high-growth corridors
Sumadhura Group, a Bengaluru-based real estate firm, has acquired approximately 40 acres of land worth around Rs 800 crore through a combination of outright purchases and joint development agreements. These parcels, situated in high-growth corridors of Bengaluru, are expected to yield revenue of Rs 6,000 crore.
Biggest play: NARCL offers ₹10,000 crore for JP Associates' loans
In the case of JAL, State Bank of India has the largest debt hold at 26%, followed by ICICI Bank at 19% and IDBI Bank at 11%. The company has total principal outstanding debt of ₹17,700 crore as of March 2023. This includes ₹650 crore that Ares SSG Capital-backed Asset Care & Reconstruction Enterprises (ACRE) acquired from Yes Bank and Karnataka Bank. The people said NARCL's ₹10,000 crore offer excludes the debt held by ARCE.
Homebuyers' body FPCE raises RERA functioning issues with the Ministry of Housing
The suggestion from the Forum for People’s Collective Efforts (FPCE) came at a meeting called by the ministry of housing and urban affairs last week, where the FPCE flagged several issues regarding the functioning of state RERAs, some people who attended the meeting told ET.
Upfront cost on property registration goes up in Karnataka
Currently, the stamp duty in Bangalore is 6.6% of the property's market value. The advance stamp duty will be adjusted against this at the time of the registration of the property. For resale, there is no impact as property registration often happens in a month.
Transindia Real Estate to sell logistics park in Gurgaon for Rs 636.71 crore, divest 10% stake in other parks
The deal consummation will help Transindia Real Estate Limited (TREL) realize substantial value from this divestment and continue to have zero debt, the company said in a statement.
In new India, offices buzz in new spots
According to real estate consultancy JLL, the emergence of new business hotspots will contribute about 89 million sq ft to the Grade-A office supply in the top seven cities over the next five years.
Bear attack! Nifty 50 sees biggest 1-day fall in 9 months; what should investors do
From the all-time high level of 21,593 points, the Nifty 50 slumped more than 400 points or 1.4% and settled at 21,150. The Sensex plunged by over 1,400 points from its lifetime high of 71,913 to end at 70,506, a 1.3% cut. The sell-off was broad-based and more prominent in the smallcap segment, which witnessed a healthy correction after several months.
How a Telangana real estate agent lured 11 to death with a promise of hidden wealth
A suspected serial killer posing as a real estate agent and treasure hunter has been apprehended for allegedly murdering 11 people in Telangana, Andhra Pradesh, and Karnataka since 2020. The accused confessed to duping victims with promises of hidden treasures and admitted to committing the murders over the past four years. The arrest came after a missing man's family filed a complaint, leading to the discovery of the accused's involvement.
Bengaluru real estate continues to show resilience
Over the last 25 years, Bengaluru's property market has shown remarkable resilience and growth in all sectors. Pre-pandemic residential sales averaged Rs 10,000 crore per quarter, expected to double soon. Emphasizing quality over return on investment, Bengaluru's market stands out from Mumbai. The city has excelled in residential, commercial, and office spaces, contributing significantly to sales and absorption. Bengaluru remains a prime choice for multinational companies due to government support and rapid clearances. With rates showing a 35-65% rise in different segments over three years, suburbs now offer self-sustained living akin to the city center.
Embassy Industrial Parks completes acquisition of 124 acres on Bengaluru outskirts
The land, acquired by Embassy Industrial Park Hosur, is in the Nelamangala taluk. The registration and sale deed were completed in October, shows a document shared by real estate data analytic firm Propstack.
India's construction sector levels up as housing demand spurs economy
The long-awaited boom - which has created millions of jobs - comes after about six years of debt and pandemic-induced downturn before the construction sector began improving last year and hitting its stride this year. It has been driven by rising incomes for many Indians, a severe housing shortage in big cities and strong population growth.
Another way to play the real estate boom? 6 home finance stocks with an upside potential of up to 33%
The NBFC crisis of 2018 has just completed its 5 years. If one looks at the root cause of the NBFC crisis, beside the lending issues by Yes Bank, it was housing finance companies which were at the centre of the crisis. If one looks globally also, either directly or indirectly, they have been at the root of a financial crisis or a scam. One of the reasons why this sector carries such risk is that the underlying asset, which is real estate itself, is both cyclical and non-transparent. So, now when the real estate market is in uptrend, are the housing finance companies a way to play that up move?
If economic growth is really good, that has to lead to job creation and demand for real estate: Sobha MD
“All our other regions apart from Bangalore have started contributing really well. As a strategy, we had diversified into several other cities. We have been present in 12 cities for a long time and some of those investments have started paying off and we are very happy about it. The majority of the new launches are going to be based in Bangalore at least this financial year.”
Buying a vacation home could be your ultimate dream but are you ready for it?
Dreaming about a personal abode in nature’s lap is one thing, but can you fit it within your financial reality? A weekend property will cost a tidy sum. This will eat into a sizeable portion of your savings. Make sure your priorities are right before taking the plunge. Here are the key things you need to consider before buying a vacation home.
Don’t see increased supply as a challenge for next 2-3 years: Puravankara Group CEO
“In any project between the time of the launch and delivery, typically there is a 50-60% price increase across the board. In ready-to-move-in inventory versus a new launch, there is a gap and a price change that happens between the two. Keeping that in mind, the average realisation has gone up by about 10-12% and the trend is continuing.”
Not luxury, majority of Brigade Enterprises sales will come from mid-income housing: CFO
“We are one of the zero debt companies in real estate that has commercial as well as residential sales. We continue to have zero debt because sales are good, working capital cycles are good. Whatever debt is there, is in LRD, which is Rs 3,200 crore and some in hospitality.”
NAREDCO and Delhi RERA launch training course for real estate
With the real estate, construction, and infrastructure sectors managing $15 trillion in India and growing at a rapid pace, the majority of professionals have not had formal education in areas of their work and have learned on the job. Unlike other global markets, there are no formal degrees to be obtained in India, except for the RICS School of Built Environment established in 2013.
Income Tax dept launches searches at Tamil Nadu real estate firm G Square
Amid reports that a DMK MLA from the city was also being raided by the tax officials, his supporters staged a protest against the agency's action. Some persons, including BJP state unit chief K Annamalai, have alleged the company has links to the ruling DMK's 'first family', which it has categorically denied.
SBI Capital Markets opens office in Bengaluru; to focus on startups, infra and defense sectors
The SBI's office comes close on the heels of the largest lender opening an exclusive branch for startups at Koramangala in Bengaluru in August, last year.
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