RESIDENTIAL AND COMMERCIAL DEVELOPMENT
Residential property sales highest in a decade: Not affordable housing, but this segment emerges as top favourite
India's real estate sector remained buoyant as residential housing sale surged to an 11-year high in the first half of 2024. A total of 1.73 lakh residential units sold during the January-June period of 2024, according to the Knight Frank report. Mumbai led with 47,259 units sold, up 16% during H12024. The premium housing sales rose to 34% market share in H1 2024, from 15% in H1 2018. Meanwhile, the affordable housing segment sales dropped to 27% in the January-July period 2024.
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is seeing substantial growth in sales volumes, driven by stable economic conditions and continued confidence, even amidst higher mortgage rates. This uptrend is led by the top eight cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad, propelling the country’s residential real estate market to an 11-year high in sales volumes during the first half of the year.
BCD Group bags 1.5 mn sft of residential development in Bengaluru
BCD Group secured a 1.5 million sqft residential project in Bengaluru from Ramsons Trendsquares for Rs 660 crores, their first collaboration. The mixed-use development spans 6.5 acres with 600 units in phase 1 and 5 million sqft in phase 2. With the first phase sold out, BCD aims to begin phase 2 soon. The project capitalizes on Bengaluru's premium real estate market, especially in Sarjapur's thriving tech hub.
What to expect from real estate and infra sector in upcoming Budget? Keki Mistry answers
Well, I think the focus will be on affordable housing in my opinion and there will some scheme or the other that will come up for the affordable housing segment.
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.
Residential real estate at a 15-yr high; commercial may see best ever year: Anuj Puri
Clearly within the residential, we are seeing luxury doing exceptionally well, affordable unfortunately not doing as well and there is not that much supply that is coming in. But cities like MMR, Mumbai, Bangalore, NCR really leading the pack.
Sattva Group to invest Rs 12,000-14,000 crore in diversification over next three years
“The funding for the initiative will be structured with a combination of equity, debt and sales. Approximately 20% of the funding will be in equity, while the remainder will be sourced from debt and sales proceeds,” he told ET. “Our approach to debt is highly prudent and disciplined. The company's primary focus lies on commercial and residential projects, which form the bulk of our portfolio.”
Sumadhura Group eyes over 3-fold turnover growth to Rs 5,000 cr in 2024-25
South India-based real estate developer Sumadhura Group aims for a significant increase in turnover to Rs 5,000 crore by 2024-25, introducing a new logo and tagline "Foundation of Happiness" to reflect their growth strategy and commitment to providing diverse living experiences.
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.
Puravankara acquires 12.75-acre land parcel on Thane’s Ghodbunder Road
Realty developer Puravankara's subsidiary, Purva Oak, acquired 12.75 acres in Thane's Patlipada for a premium residential project with an estimated potential of 18.20 lakh sq ft. The project, adding to Mumbai Metropolitan Region portfolio, has a potential gross development value of Rs 4,000 crores. Puravankara aims for strategic expansion and increased revenue contribution in the western region.
Investors rejoice: Surakshit Nivesh Yojna (PDPMY Phase-2) launches at Delhi Mall Complex
Raheja Developers launches Surakshit Nivesh Yojna (PDPMY Phase-2) at Delhi Mall Complex, offering investment opportunities with shop sizes from 40-150 Sq. Ft. and special benefits for senior citizens and women.
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.
Infra push, talent access helps satellite cities reshape India's commercial realty
India's commercial real estate landscape in satellite and tier II cities is undergoing significant transformation due to robust infrastructure development, strategic urban planning, talent availability, and lower cost of living. Cities like Navi Mumbai, Pune, Gurugram, Noida, and Hyderabad have seen extensive investment in road networks, metro connectivity, and digital infrastructure, making them attractive hubs for businesses.
BSNL and MTNL prioritise govt organisations for land asset sales worth Rs 1 lakh crore
Recently, BSNL sold one of its properties in Lucknow to the Income Tax department for around Rs 229 crore, which was the market value of the building.
Poonawalla Group to construct commercial tower in Pune's Bund Garden at Rs 1,750 crore
Poonawalla Towers spread across 8.75 lac square feet will have several amenities. The project's estimated valuation is in excess of Rs 1,750 crore, company claims
BJP MLA bats for farmers, writes to UP govt over land acquisition near Noida
BJP MLA Dhirendra Singh advocates for prompt resolution of farmers' grievances in Gautam Buddh Nagar, emphasizing the need for approval from the Greater Noida Authority for 10% residential plots to address their demands regarding land acquisition for Noida International Airport.
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.
We wish to grow in SOBO market which will see resurgence of residential developments: Boman Rustom Irani, Keystone Realtors
Keystone Realtors, led by Boman Rustom Irani, are expanding into SOBO due to city infrastructure growth. FY25 outlook is positive, with FY24 surpassing expectations. Strong OCF, acquisitions, and partnerships contribute to the company's success. The real estate sector in Mumbai is poised for growth, driven by infrastructure development and a surge in redevelopment projects.
DLF Q4 Results: Net profit jumps 62% YoY to Rs 920.71 crore
Realty major DLF Ltd on Monday reported a 62 per cent increase in its consolidated net profit to Rs 920.71 crore in the quarter ended March on higher income amid strong housing sales. Its net profit stood at Rs 570.01 crore in the year-ago period.
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.
BCD Group plans to furnish 3 million square feet of real estate in 5 years through interior designing
BCD Group has launched Casadilusso to provide interior design services, aiming to offer end-to-end solutions for real estate developers and home buyers. This move aligns with the trend of integrated contractors and aims to tap into the growing interior design industry in India, driven by the expanding real estate sector. The company plans to furnish 3 million square feet of real estate over the next five years and expects the design arm to contribute significantly to its total revenues in the coming years.
DLF sells apartments worth Rs 5,590 crore within days of launch
Luxury segment housing (apartment priced Rs 4 crore and above) has recorded 10% Y-o-Y growth in Jan-Mar 24 across the top seven cities, with Mumbai witnessing highest number of sales with more than 1,300 luxury units in Q1 2024.
DLF sells nearly 800 luxury flats worth Rs 5,590 crore in Gurugram within 3 days of launch
DLF, a leading real estate developer, has sold all 795 apartments in its new luxury housing project in Gurugram, 'DLF Privana West', for Rs 5,590 crore within just three days of its launch. This success follows the sale of 1,113 luxury apartments in another project, 'DLF Privana South', for Rs 7,200 crore earlier this year. The new project is part of the larger 'DLF Privana' township and has attracted significant interest from NRIs. DLF's strong performance reflects the robust demand for residential properties in Gurugram and India's housing market overall.
Max Estates projects FY25 pre-sale proceeds to more than double
Pre-sale refers to the sale of properties before they are constructed, a common practice in the real estate sector. The company is on track to launch the National Capital Region’s first intergenerational residential community in the July-September quarter of 2024, with a revenue potential of Rs 4,000 crore.
Banks homing in on a bigger share of expanding realty pie; loans almost triple the pace in FY23
Bank loans to commercial real estate, including residential construction, nearly tripled last fiscal year at 23 percent, amounting to Rs 3.97 lakh crore. If the impact of the merger of HDFC with HDFC Bank is included, the loan growth increases to 38.9 percent, with outstanding loans reaching Rs 4.48 lakh crore as of March 31. Property analysts note growth across segments, with the top seven property markets witnessing total sales of 74,486 apartments in the quarter, following a record-breaking quarter in December.
Kalpataru to redevelop 4-acre housing society in Mumbai’s Andheri
Kalpataru Ltd acquires rights for housing society redevelopment in Lokhandwala, Mumbai with significant revenue potential. Multiple redevelopment projects in progress in Mumbai suburbs. Market achieves record highs despite rising property prices.
New York Life to acquire 49% stake in two commercial projects by Max Estates for Rs 388 crore
New York Life Insurance Co. has invested Rs 388 crore for a 49% equity stake in two commercial projects in Delhi and Noida by Max Estates' SPV. This makes New York Life a 49% partner in all commercial projects by Max Estates in Delhi-NCR. The two buildings are Max Tower in Noida and Max House in Okhla, with a total leasable area of around 600,000 sq ft. Max Towers and Max House are operational commercial real estate projects in Noida and Delhi. Max Estates will hold 51% in the two SPVs after the transactions.
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