RESIDENTIAL REAL ESTATE
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.
Investor confidence drives Indian realty investments to $4.8 billion in H1 2024
Amid global economic challenges, Indian real estate showcased resilience, attracting $4.8 billion in institutional investments in H1 2024, up 81% from the total $5.8 billion in 2023. With 40 deals, investment activity surged, driven by strong foreign and growing domestic investor confidence, signaling robust economic growth and diversified opportunities in emerging sectors.
Housing sales in top 30 Tier II cities up 11% in FY24 to nearly 2.08 lakh units: PropEquity
Housing demand in India has increased by 11% last fiscal, reaching nearly 2.08 lakh units across 30 Tier II towns, according to PropEquity's report. The top 10 Tier II cities contributed 80% to the total sales in these small towns, with sales of 1,68,998 units in 2023-24. The other 20 Tier II cities include Bhopal, Lucknow, Goa, Coimbatore, Raipur, Vijayawada, Indore, Kochi, Trivandrum, Mangalore, Guntur, Bhiwadi, Dehradun, Ludhiana, Chandigarh, Agra, Mysore, Sonepat, Panipat and Amritsar.
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.
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.
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Godrej Properties buys 7-acre land in Bengaluru to build housing project worth Rs 1,200 cr
Godrej Properties has acquired a 7-acre land in Thanisandra, North Bengaluru, for developing a luxury housing project. The project is expected to yield around 9 lakh square feet of residential space, with an estimated revenue of Rs 1,200 crore. In a separate development, the company will also develop an 11-acre land parcel in Hinjewadi, Pune, focusing on group housing and high street retail, with a projected revenue of approximately Rs 1,800 crore.
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.
This Indian city sees third highest jump in prime residential property prices in the world: Report
In Q1 2024, Mumbai led Indian cities with an 11.5% year-on-year increase in prime residential prices, ranking third globally in Knight Frank's Prime Global Cities Index. Delhi followed with a 10.5% rise, securing fifth place. Knight Frank attributed the surges to India's robust economic growth, with GDP exceeding 8% annually. 'Prime Global Cities Index' is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide.
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.”
Under-construction housing prices increase 15.2% in June quarter
Residential real estate supply surged in June quarter driven by under-construction properties, prices rose 11.7% and 15.2% sequentially, surpassing ready-to-move-in prices in Gurugram, Mumbai, Noida, and Thane.
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.
Krisumi Corporation to invest Rs 2,000 crore in Gurugram residential project
Krisumi Corporation plans a Rs 2350 crore investment in Phases 3 and 4 of Krisumi City, Gurugram, with 1051 luxury units and a 2-acre club. Marketed as a shift to larger, luxury apartments, they expect Rs 4000 crore revenue. The joint venture aims for completion by December 2029, backed by Krishna Group and Sumitomo Corporation
Mahindra Lifespace eyes Rs 8-10K crore sales in housing, industrial spaces by FY28
Amit Sinha, MD & CEO, mentioned the successful annual sales and highest pre-sales of Rs 2,328 crore in residential business for Mahindra Lifespace. They also achieved land leasing of 119.4 acres for industrial business.
ARCs to see recoveries improve from stressed residential projects
ARC expected to see 5-7% increase in recovery rates of stressed residential projects. Recovery rates to reach 16-18% by March 2025 due to rising prices, demand, and investor interests.
Higher property prices, changes in law to boost debt recovery from stressed realty projects: Report
The recovery of debt from stressed residential realty projects is expected to increase in the current financial year due to rising property prices and regulatory changes. Crisil forecasts a bad loan recovery rate of 16-18% by FY25, driven by improved project viability, strong demand, and investor interest. Recent amendments to IBBI regulations are also seen boosting real estate asset resolution. With residential realty demand projected to grow by 10-12% and low unsold inventories, ARCs are expected to expedite the turnaround of stressed projects.
ARCs to see 5-7% higher recoveries from residential realty in FY25: CRISIL Ratings
Additionally, recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations are expected to expedite the resolution of stressed real estate assets in the medium term, enhancing the overall recovery process for ARCs.
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.
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?
Robust housing demand helps in faster inventory liquidation
Residential property markets in the top seven cities - Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad and Kolkata - have witnessed a significant 31% decrease in the time taken to sell active unsold housing inventory, showed a JLL analysis.
Properties worth Rs 1.17 lk cr sold by 18 listed realty firms in FY24; Godrej properties at top
Major real estate developers in India, including Godrej Properties, Prestige Estates Projects, and DLF, achieved significant sales bookings in the last fiscal year driven by strong demand for residential properties, especially luxury homes.
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.
AU Real Estate to invest Rs 600 crore in luxury residential project in Ghaziabad
AU Real Estate will invest Rs 600 crore in "The Sunflower," a luxury residential project in Aditya World City, Ghaziabad. The project will feature five towers with 30 floors each, offering a total of 595 units spread over 6.94 acres. The property will have 3 and 4 BHK apartments ranging from 2700 to 4000 square feet. It will also include a 70,000 sq ft lobby area in each tower. The company plans to fund the project through sales receivable and internal funds, capitalising on the post Covid surge in residential real estate demand.
Unsold housing inventory dips by 57% in NCR in five years
Residential real estate upcycle aids NCR, slashing unsold stock by 57% in 5 years, topping nationwide improvement. Southern cities saw moderate declines. Controlled supply boosts NCR's success, buoyed by renewed buyer confidence and regulatory reforms. Gurgaon and Greater Noida lead reductions. Luxury segment drives demand, signaling further project surge.
Real estate sentiment at decadal high in first quarter of 2024
The Knight Frank-NAREDCO Real Estate Sentiment Index Q1 2024 reported a surge in confidence in residential and office markets, attributed to stable economic fundamentals, post-pandemic momentum, and increased transaction volumes. The Current Sentiment Index Score reached a decadal high at 72, with the Future Sentiment score and Developer Future Sentiment Score also showing positive trends.
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.
Certus Capital commits Rs 400 crore through three real estate investments
Institutional real estate investment firm Certus Capital has finalised investments worth over Rs 400 crore through three real estate funding transactions. The funding is part of its plan to invest Rs 1,000 crore through secured credit in India’s real estate sector in 2024-25.
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