REAL ESTATE PURCHASES
Amitabh Bachchan buys two luxury apartments in Mumbai’s Borivali suburb
The deal comes immediately after the veteran actor recently purchased three more office properties spread across three floors in a commercial project in Oshiwara locality of Mumbai’s western suburb of Andheri. Bachchan purchased apartments in Borivali worth nearly Rs 7 crores from Incline Realty, a subsidiary of Oberoi Realty. These apartments spread over 2,188 sq ft are located on the 57th floor of the tower, the same floor where his son Abhishek’s apartments are situated.
Rs 15 crore for Noida 4 BHK? YouTuber Akshat Shrivastava on Dubai, Singapore, New York comparisons
Debates on luxury home prices in India escalate as netizens question the affordability of Rs 15 crore apartments in Noida. Many netizens suggest invest in European properties for citizenship and concerns over real estate 'herd value' pricing emerge. YouTuber Akshat Shrivastava also weighed in.
Rs 15 crore for Noida 4 BHK? Techie's 'job change or trading' video goes viral
The Instagram video by 'Witty Engineer' on Noida's high real estate prices prompted varied reactions from netizens, with discussions on luxury living, alternatives abroad, and India's challenges. Well-known YouTuber Akshat Shrivastava also weighed in.
Kanye West tried building 'bomb shelter' in Malibu: Beachfront mansion loses its value
Kanye West has now become the poster-boy of real estate destruction as he has shocked the entire world by attempting to make a 'bomb shelter' back in Malibu, where he owned a large mansion, which demolished to create a 'Batcave'.
Amitabh Bachchan buys more office properties in Mumbai Andheri suburb
Bollywood legend Amitabh Bachchan expands his Mumbai property portfolio with the purchase of three office spaces in Oshiwara for Rs 60 crore. This acquisition adds to his existing commercial holdings, with a focus on real estate investments alongside other industry figures.
Only 195 projects set up grievance redressal cell despite MahaRERA directive
Only 195 projects in Maharashtra have complied with the directive to establish a complaint redressal cell by the Maharashtra Real Estate Regulatory Authority. The cells aim to resolve homebuyers' grievances.
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Gold rush grips Asia despite near-record prices
Gold demand in Asia is increasing despite near-record high prices, driven by geopolitical and economic uncertainty. Spot gold trades over $2,300 per ounce, up 12% year-to-date, and 6% below the record high. Lower confidence in real estate and equities also fuels the demand.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
Capital-in-waiting? Election results ignite real estate frenzy in Amaravati, prices soar 50%-100% in 3 days
The 2024 Indian elections brought more than political shifts, with Amaravati witnessing a staggering 50%-100% surge in real estate prices within days of the results, according to The Times of India. The victory of the TDP, Jana Sena, and BJP alliance resolved uncertainties about the capital, reigniting buyer interest. All eyes are on Prime Minister Narendra Modi's anticipated statement during N Chandrababu Naidu's upcoming swearing-in ceremony as CM on June 12 near AIIMS in the capital region.
Hungary to relaunch Golden Visa as Guest Investor Program on July 1
Hungary relaunches its Golden Visa Program as the Guest Investor Program (GIP) for non-EU/EEA nationals, offering residency through real estate investments or donations. The program grants visa-free travel across the EU and extends permits to family members. Hungary's new immigration law introduces changes and delays in implementation.
What rental yield is and how it is calculated
If you are confused by personal finance terms, jargon or calculations, here’s a new series to simplify and deconstruct these for you. In the first part, ET Wealth explains what rental yield is and how it is calculated.
Holiday home demand tapers off as rentals fall
Goa is becoming a first-home market with interest from businessmen and startup founders. Luxury second homes are in demand, especially in locations like Porvorim. Coonoor Estates is developing high-end luxury homes for buyers looking to settle down.
Mumbai property market continues record-setting spree with best-ever May
The country’s commercial capital witnessed more than 11,917 property registrations during the month, up 21.3% from a year ago. The performance led to the state exchequer fetching revenue worth over Rs 1,029 crore through stamp duty collection, up 23.5% on-year, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
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.
Best is yet to come; for current year, looking at 25% growth over last year: Irfan Razack, Prestige Group
Irfan Razack, CMD of Prestige Group, outlines the company's strong sales performance, future launch plans, and expansion strategies in Bangalore and other cities, emphasizing growth projections in various sectors by 2028. In Delhi NCR, Prestige is launching projects in Indirapuram, Noida and KG Marg. However, because of the election, code of conduct has kicked in and things have been at a standstill in the last few months.
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.
Indians pay more in down payments and home loan EMIs than Singaporeans! Entrepreneur explains the math
Entrepreneur Akshat Shrivastava compares buying a house in Singapore and India. In Singapore, a 1 million SGD house requires 27% upfront payment with a 4% home loan interest rate. In India, a 2.56 crore house demands 30% upfront payment and 8-9% home loan EMI.
Shanghai lifts home-buying curbs to boost property sector
Shanghai eases property buying rules amidst a real estate crisis, reducing residency requirement to 3 years and minimum down payment to 20% for commercial housing mortgages.
Daughter of Divi's founder shells out Rs 80 crore for two Hyderabad properties
Nilima Prasad Divi, daughter of Murali Divi, the founder of Divi's Laboratories, a prominent pharmaceutical company in India, has recently acquired two properties in Hyderabad, totaling Rs 80 crore. The first property, located in Jubilee Hills, spans 12,000 sq ft with a built-up area of 200 sq ft. The second property, also covering 12,000 sq ft, was acquired for a similar amount from Moturi Surya Kamal Prasad, according to the sale deed documents provided by Zapkey.
Dvok Buildcon buys 18-acre land in Gurgaon for Rs 310 crore
In terms of total land area, Bengaluru saw 14 deals for 490 acres transacted, the highest among all the top 7 cities. Land deals in the National Capital Region (NCR) have peaked due to urbanisation, infrastructure development, and investment opportunities driving demand for land.
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.
China lays out 'historic' plans to prop up its realty market
Investors hoped the measures marked the beginning of more decisive government intervention to compensate for waning demand for new and old apartments, to slow down falling prices and to reduce a growing stock of unsold homes. Since the property market began its steep downturn in 2021, a string of developers have defaulted, leaving scores of idle construction sites behind, and sapping confidence in what had been the preferred savings instrument for the Chinese population.
China unveils steps to stabilise crisis-hit property sector
China announced significant measures to stabilize the struggling property sector. The measures included allowing local governments to purchase apartments, easing mortgage rules, and committing to finishing incomplete homes. These efforts aim to address declining demand, falling prices, and a surplus of unsold properties, with the hope of reviving a sector that once contributed significantly to the economy.
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.
Avigna to raise Rs 1,000 crore for expansion plans, debt reduction
Bengaluru's Avigna plans to raise Rs 1,000 crore through an AIF for expansion and debt repayment. The AIF, including a greenshoe option, will focus on stabilized assets. Avigna aims to develop 10 million sq ft of warehousing assets in southern India, targeting robust industry growth amidst economic recovery post-Covid-19.
MahaRERA proposes self-declaration of project quality by realty developers
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has proposed that realty developers provide an annual self-declaration on projects' quality assurance to ensure structural integrity, material quality, and workmanship standards. Initially optional, it will become mandatory. The move aims to enhance construction quality and protect homebuyers' interests, with a feedback deadline of May 23.
Two Chinese megacities lift home purchase curbs to attract buyers
Hangzhou and Xian lifted home purchase limits to revive the real estate market impacted by the pandemic and borrowing rules. The move aims to attract buyers and support the sector, following a decline in prices.
Buying a home in Dubai? Do a FEMA reality check
Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving 'instalments' create obligations in foreign exchange, potentially breaching FEMA rules.
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