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Real Estate
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CREDAI seeks tax sops in Budget to boost housing demand
PTI, New Delhi
PUBLISHED ON JAN 10, 2021 03:04 PM IST
CREDAI suggested that investment of up to ₹50,000 in REITs should be allowed as deduction under Section 80C.
Realty firms may witness margin shrink by 4-6% due to steel price rise
By Press Trust of India | Posted by Kanishka Sarkar | Kolkata
UPDATED ON JAN 05, 2021 04:57 PM IST
Real estate industry body Credai Bengal president Nandu Belani said the spurt in steel prices will reduce the margin by 4-5 per cent, which is quite high for the sector.
Singapore home prices rise to highest in more than two years
By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON JAN 05, 2021 02:44 PM IST
Property values increased 2.1% in the three months ended Dec. 31, according to a preliminary estimate by the Urban Redevelopment Authority released Monday. That’s the biggest increase since the second quarter of 2018, when prices increased by 3.4%.
DDA’s new housing scheme launched; 1,354 flats, costliest worth Rs 2.14 crore
By Press Trust of India | Posted by Kanishka Sarkar | New Delhi
PUBLISHED ON JAN 02, 2021 08:14 PM IST
The scheme is completely online, done through the newly developed AWAAS software of the Delhi Development Authority (DDA) from processing of application to possession of flats, a senior official said.
New York luxury real estate could be a bargain in 2021
By Bloomberg | Posted by Ayshee Bhaduri
PUBLISHED ON DEC 23, 2020 04:49 PM IST
As the city looks toward next year, the known unknowns loom large, and the economic futures of the city, the country, and the world are up in the air. But the city’s luxury residential market has enough momentum to make experts feel comfortable making some conditional predictions.
Godrej Properties ranks first among listed housing developers globally in sustainability
By Press Trust of India | Posted by Srivatsan K C | New Delhi
PUBLISHED ON DEC 14, 2020 08:11 PM IST
In a regulatory filing, Godrej Properties said GRESB, an organisation that provides environmental, social and governance (ESG) benchmarks for real estate organisations globally, has recognised the company as a real estate development sector leader both globally and in Asia for listed residential real estate.
RMZ Corp divests 18% of their real assets worth USD 2 Billion to Brookfield
By Press Trust of India | Posted by Srivatsan K C | Bengaluru
PUBLISHED ON DEC 07, 2020 12:37 PM IST
“The deal between RMZ Corp and Brookfield marks our most important milestones for the year- conversion to a ‘debt-free’ firm. At RMZ, we look forward to enhancing our hypergrowth strategy,” said Manoj Menda, Corporate Chairman, RMZ Corp.
Rents in Chinese cities lowest in nearly two years, shows report
By Reuters| Posted by: Harshit Sabarwal | Beijing
PUBLISHED ON DEC 02, 2020 01:50 PM IST
Average home rental prices in November stood at 34.71 yuan ($5.30) per square metre down from 42.65 yuan in October, according to data from Zhuge House Hunter. That’s the lowest since January 2019, the Chinese property data provider said.
UK’s hot housing market highlights Covid’s two-speed economy
By Bloomberg| Posted by: Harshit Sabarwal
UPDATED ON DEC 02, 2020 11:59 AM IST
House prices have surged to new records and mortgage approvals are at the highest level since before the financial crisis as the affluent take advantage of rock-bottom interest rates and a transaction-tax cut to seek more space or leave urban areas.
Govt to soon come out with model tenancy law
By Press Trust of India | Posted by Kanishka Sarkar | New Delhi
PUBLISHED ON NOV 25, 2020 05:03 PM IST
Addressing a webinar organised by realtors body NAREDCO, he said the government’s Affordable Rental Housing Complex (ARHC) scheme for migrants, which was launched few months ago, has been progressing well and the programme has the potential to stop creation of slums in cities.
Delhi ranks 27th, Mumbai 33rd globally as fastest-growing prime residential market: Report
By Press Trust of India| Posted by: Harshit Sabarwal | New Delhi
PUBLISHED ON NOV 24, 2020 02:23 PM IST
“Delhi’s prime residential market performed better than Mumbai and Bengaluru. Globally, the city ranked 27th with a 0.2 per cent annual price change for the period Q3 2019 – Q3 2020; with a decline of 0.1 per cent price change in Q3 2020 compared to the previous quarter,” Knight Frank said.
Prestige group to invest Rs 2,000 crore on housing projects in Bengaluru, Hyderabad, Goa
By Press Trust of India | Posted by PrashastiSingh | New Delhi
PUBLISHED ON NOV 23, 2020 07:28 AM IST
The Bengaluru-based company will develop nearly 3,400 housing units in these four projects over the next three and half years.
Builders told to cut home prices, pass on GST gains
By Gireesh Chandra Prasad | Livemint, New Delhi
UPDATED ON NOV 16, 2020 03:59 AM IST
This month, the NAA confirmed previously issued orders to two other builders to pass on the benefits of tax credits to customers but dropped proceedings to impose penalty.
You can now buy houses at 20% below circle rate: All you need to know
By hindustantimes.com | Edited by Prashasti Singh | Hindustan Times, New Delhi
UPDATED ON NOV 13, 2020 02:46 PM IST
Circle rate is the minimum rate of property set by the authorities for a particular area.
Shapoorji Pallonji’s platform Joyville sells 800 housing units in Pune for around Rs 400 crore
By Press Trust of India | Posted by Srivatsan K C | New Delhi
UPDATED ON NOV 09, 2020 02:31 PM IST
Joyville is a USD 200 million platform by Shapoorji Pallonji Group, ADB, IFC and Actis to develop aspirational housing projects in India.
Indian developer RMZ sells real estate assets worth $2 billion to Canada’s Brookfield
By Reuters | Posted by Srivatsan K C
PUBLISHED ON OCT 20, 2020 07:53 AM IST
RMZ will have zero debt after the deal that involves its rent-yielding offices and co-working spaces.
Gaurs Group clocks Rs 400 crore sales booking in Q2; marginal drop from last year
By Press Trust of India | New Delhi
PUBLISHED ON OCT 10, 2020 06:20 PM IST
Gaur expects a strong sales booking in the second half of 2020-21, compensating for the shortfall in the first six months of the current fiscal year.
Realty sector picking up in Mumbai metropolitan region, says report
By Naresh Kamath | Edited by Abhinav Sahay | Hindustan Times, Mumbai
UPDATED ON OCT 08, 2020 03:43 PM IST
The industry insiders feel that home buyers are taking advantage of the low realty prices and also the low interest rates on home loans on offer currently.
Housing prices fall 2-7% in July-September in 6 top cities
By Press Trust of India| Posted by Susmita Pakrasi | New Delhi
PUBLISHED ON OCT 08, 2020 03:25 PM IST
Prices, however, increased in Bengaluru and Hyderabad by 3 per cent and 4 per cent, respectively, during July-September 2020 compared with the year-ago period.
Covid-19 worsens crisis in world’s most unaffordable housing market
By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON OCT 06, 2020 02:47 PM IST
Hong Kong’s economy is forecast to shrink as much as 8% this year and its unemployment rate is near a 15-year high at around 6%. Yet, home rents remain one of the world’s most expensive while pulling back about 9.2% in August from the previous year.
Developer asked to pay Rs 5 cr for delay in property hand over in Mumbai
By Press Trust of India | Posted by Shivani Kumar | Mumbai, Maharashtra
UPDATED ON SEP 30, 2020 03:27 PM IST
A single bench of Justice S C Gupte on September 25 upheld the orders of the Maharashtra Real Estate Regulatory Authority and the RERA Appellate Tribunal that had ordered for the compensation amount to be paid to the purchaser.
Affordable Rental Housing Complexes Scheme: Chandigarh admin to appoint concessionaire, take a call on tenders in September 29 meeting
By HT Correspondent | Hindustan Times, Chandigarh
UPDATED ON SEP 24, 2020 10:19 AM IST
Under the scheme, the Chandigarh Housing Board will rent out 2,500 small flats in Maloya to migrant labourers and urban poor. The scheme is to be implemented through the concessionaire.
Delivery of nearly 5,000 housing units offered since lockdown in Noida, Greater Noida: NAREDCO-UP
By Press Trust of India | Posted by Kanishka Sarkar | Noida
PUBLISHED ON SEP 14, 2020 11:50 PM IST
NAREDCO-UP president R K Arora expressed optimism on the real estate sector, which had come to a grinding halt since the lockdown in March, returning to tracks soon.
UP RERA comes out with Performance Report 2020
By Press Trust of India | Noida
UPDATED ON SEP 14, 2020 10:36 PM IST
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Monday launched its ‘Performance Report 2020’ which includes information related to its functioning as well as details of various projects in the state.
Google abandons plan to rent Dublin office for 2,000 workers
By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON SEP 08, 2020 02:23 PM IST
Google had been in talks to rent about 202,000 sq ft (18,766 square meters) of space at the Sorting Office, close to the Irish capital’s south quays, adding to its array of sites in the city.
UP RERA issues notice to Supertech over Supernova project in Noida
By Press Trust of India | Posted by: Shankhyaneel Sarkar | Noida
UPDATED ON SEP 03, 2020 10:59 AM IST
The Supertech group, however, said it did not receive the RERA’s notice issued in February and cited lockdown-related reasons for the delay in submission of the revalidated map of the premium project.
SC approves SBI CAP funding for six Amrapali projects
By Abraham Thomas | Posted by Abhinav Sahay | Hindustan Times, New Delhi
UPDATED ON AUG 26, 2020 07:21 AM IST
Several housing projects started by the Amrapali group in Noida and Greater Noida were stuck due to financial mismanagement by the private firm.
Covid-19: Real estate investors skip paying loans while raising billions
By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON AUG 24, 2020 10:16 PM IST
The willingness of Brookfield Property Partners LP, Starwood Capital Group, Colony Capital Inc. and Blackstone Group Inc. to skip payments on commercial mortgage-backed securities backed by hotels and malls illustrates how the economic fallout from the coronavirus has devalued some real estate while also creating new targets for these cash-loaded investors.
Realty suffers in MMR as only 40% sites begin work
By Naresh Kamath | Hindustan Times, Mumbai
UPDATED ON AUG 19, 2020 03:04 PM IST
The real estate sector has been battered by the slowdown over the past few years and Covid-19 has only aggravated the situation.
Logix and Supertech promise compliance of pending RERA orders in 6 months
By Kapil Datta | Hindustan Times, Greater Noida
UPDATED ON AUG 19, 2020 07:29 AM IST
Supertech Limited had 1,806 complaints against them of which UP-Rera disposed of 1,100. “In 864 cases, refund and possession order was given and in 106 cases, refund orders were issued.