REAL ESTATE ASSETS
Bollywood actor Ronit Roy buys sea-view luxury apartment in Mumbai’s Versova
Bollywood actor Ronit Roy and his wife Neelam acquired a 4,259 sq ft sea-view apartment in Versova, Andheri from Macrotech Developers for nearly Rs 19 crore. The June 10 deal includes four exclusive parking slots and a stamp duty of Rs 1.14 crore. The 29-storey project will be completed by December 2026. High net-worth individuals, including Bollywood stars like Amitabh Bachchan, Shahrukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan, and Aishwarya Rai, are investing in real estate.
JM Financial consolidates wholesale and distressed credit biz
JM Financial Limited (JMFL) is set to consolidate its wholesale debt syndication and distressed credit business under a single platform. The move involves two acquisitions: a 42.99% stake in JM Financial Credit Solutions Limited (JMFCSL) and a 71.79% stake in JM Financial Asset Reconstruction Company Limited (JMFARC). The consolidation aims to transition from an on-balance sheet business model to a diversified originate-to-distribute/syndication model across various asset classes.
PE investment in real estate hits $2.5 bn in Q2, a 3-year high
Institutional investments in India's real estate sector surged to a three-year high of $2.5 billion in the June quarter, primarily driven by robust activity in the industrial and warehousing, and residential segments, according to Colliers. The industrial and warehousing segment attracted the majority of investments at $1.5 billion, marking an 11-fold increase from Q2 2023, while the residential segment also experienced significant growth. Conversely, investments in the office sector plummeted 83%. Foreign investors, particularly from the US and UAE, were prominent contributors in the market, indicating a positive outlook for the industry.
Institutional investment in Indian real estate at $2.5 billion in Q2, marking a 3-year high
Private equity investments in Indian real estate hit a three-year high in Q2 2024, totaling $2.5 billion. The industrial and warehousing segment led with 61% of the total investments ($1.5 billion), driven by large deals. The residential segment saw a 7.5x increase from Q2 2023, making up 21% of total inflows. Office assets received $0.3 billion, showing a significant annual decline.
Indian real estate witnesses $1.7 bn private equity inflow during H1 2024
Private equity investment in the Indian real estate sector reached USD 1.7 billion in the first half of 2024, marking a 42% increase year-on-year, as reported by Savills India. However, Q2 2024 saw investments of USD 1.1 billion, similar to the previous year's figures.
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.
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Investing in commercial real estate: How to earn attractive regular income by investing in commercial real estate via fractional ownership platform
As fractional ownership gains traction and becomes increasingly popular, retail investors must run a few checks before investing in CRE assets via this route. Here are some factors that one must consider.
Real estate growth strongest in greater Mumbai region, says Mahantesh Sabarad
The Mumbai real estate sector, particularly in the greater MMR region like Thane, has thrived in the past two years, outpacing traditional growth markets. Companies like Raymond, Oberoi Realty, and Godrej, with investments in this area, are poised for strong performance amidst upcoming metro projects.
How MSMEs can boost India's real estate market
With streamlined regulations and increased credit access, MSMEs have the potential to boost India's real estate sector.
Property digitisation benefits all: Enhancing transparency and efficiency in the real estate sector
The new government announces assistance for 3 crore homes under the Pradhan Mantri Awas Yojana, reinforcing GoI's commitment to affordable housing and potentially boosting GDP by over $500 bn.
Property digitisation benefits all: Enhancing transparency and efficiency in the real estate sector
The new government announces assistance for 3 crore homes under the Pradhan Mantri Awas Yojana (PMAY), potentially boosting GDP by over $500 billion.
Daibiru creates Gift City fund with Hines, invests Rs 1,000 crore in Gurgaon building
Daibiru Corporation, a subsidiary of Mitsui O.S.K. Lines, has invested Rs 1,000 crore in an upcoming office complex in Gurgaon developed by DLF and Hines. This investment facilitated the exit of Abu Dhabi Investment Authority (ADIA), with Hines holding a 33% stake in the joint venture. The project, named Atrium Place, spans 2.88 million square feet across 11.76 acres and is slated for completion in 2025.
MyGate founder Vijay Arisetty joins Aurm as founder and CEO
Veteran armed forces member and MyGate founder Vijay Arisetty has been appointed as founder and CEO of Aurm, an asset protection firm in Mumbai. Arisetty aims to address the gap in safe-deposit locker availability in India by offering state-of-the-art, technology-enabled solutions with military-grade security infrastructure. Aurm partners with banks and real estate developers to provide secure, automated locker services.
Realty Co Total Environment has raised Rs 1600 crore from top lenders
Total Environment has paid off approximately ₹2,070 crore of debt raised from top-tier financial institutions, driven by robust residential sales.
India emerges a top five destination for realty FDI
India ranked among the top five global destinations for cross-border capital in land and development site investments in the March quarter, with foreign investors accounting for about 55% of the inflows, according to real estate services firm Colliers. Significantly, 73% of new foreign investments targeted ready assets, as reported in Colliers' latest Asia Pacific Global Capital Flows report.
India ranked among the top five in the Asia-Pacific region for developmental assets
India emerges as a top global capital destination in Asia Pacific for land and development sites, with significant foreign investments. Colliers's Asia Pacific Global Capital Flows report highlights 73% of foreign investments directed towards ready assets in Q1 2024.
Mumbai, Delhi-NCR, Bengaluru lead Small & Medium REIT investment prospects
India's fractional ownership property market is projected to grow over 10 times, exceeding $5 billion by 2030, driven by office assets suitable for Small and Medium REIT (SM REIT) investments. Mumbai and Delhi-NCR are top hotspots, with significant opportunities in tech markets. SM REITs offer investors professionally managed, rent-yielding assets.
I received Rs 18 lakh from sale of ancestral property. Where should I invest this money for the next 3-5 years?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Should you buy a second house with a loan?
The key consideration in making this decision is to assess how it will impact their financial plan and goals. Shoaib or his wife might want to pursue alternative career options, take a break, or start their own business. They must ensure that they are not forced to continue with their jobs against their will because they find themselves in debt.
'Made in China' housing crisis solution may not be enough
China grapples with a colossal housing crisis, with millions of unoccupied apartments and unfinished developments, threatening its economy. Beijing's plan involves massive state intervention, buying unsold properties and converting them into social housing. However, doubts still persist about its adequacy and efficacy, raising concerns about the broader economic impact on China
Nexus REIT in talks to buy Marina Mall in Chennai
Nexus Select Trust in talks to acquire The Marina Mall in Chennai, developing a diverse portfolio with Grade-A malls in Hyderabad. Plans to double assets to 20M sq ft in 5 years, reflecting India's retail growth and mall consumption surge.
Will prime residential assets remain the mainstream investment avenue for HNIs in India?
Real estate, long favored by India's affluent, served as an inflation hedge in a socialist economy. However, liberalization altered dynamics, shifting focus to financial assets as domestic real estate faced cyclicality amidst changing economic landscapes.
DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 cr in FY24
DLF's joint venture with DCCDL saw a 7% rise in rental income from office buildings to Rs 3,460 crore in the last fiscal, driven by rent appreciation and asset portfolio expansion. The rental business, holding a majority stake, demonstrated healthy occupancy levels and low vacancies. With sustained growth in rentals and service income, DCCDL reported a 9% increase in consolidated revenue and an 18% rise in net profit.
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
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.
Brookfield India REIT set to buy Bharti’s nearly 50% stake in realty JV
Last year, Brookfield Asset Management had closed the transaction picking up around 50% stake in Bharti Enterprises’ four commercial properties in Delhi-NCR. Following this deal, Canadian institutional investor Brookfield’s listed REIT in India and Brookfield Asset Management will together own the joint venture known as Rostrum Realty.
ASK Property Fund exits from Naiknavare’s Pune project with 21% IRR, 2x multiple
ASK Property Fund exits Rs 156 crore investment from Pune's Naiknavare Developers' Avon Vista project with 21% IRR and plans for more investments in Pune and Mumbai.
Asset manager TPG raises $8 bln for Asia-focused private equity, real estate funds
The fundraising takes TPG's total Asia assets under management to $35 billion, spread across "dedicated Asia-focused private equity, real estate, and secondaries," the Texas, U.S.-based company said.
Election, FIIs switching out of India into China in very short term leading to rising volatility: Jonathan Schiessl
Jonathan Schiessl discusses the focus on FMCG sector by foreign investors in India and the potential in private sector banking despite challenges post-HDFC merger. He suggests exploring undervalued sectors like IT and exercising caution in real estate investments.
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