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Share of luxury homes' sales now almost at par with affordable housing units

Published on May 10, 2024 04:36 PM IST

The luxury housing segment is driven by an appetite for bigger homes by branded developers in superior locations; affordable housing driven by low ticket sizes

The share of luxury housing sales has jumped to 21% from a mere 7% five years ago but affordable housing has seen a sharp decline(Unsplash)

Noida directs real estate developers to pay dues, obtain registry permission

Noida Authority has made it clear to realtors that if they do not use the scheme and pay dues, it will have to attach the property, and cancel the allotment

The authority’s direction came during a meeting held in Sector 6 office with the realtors on Thursday evening. The developers assured the authority that they will pay the land cost dues and obtain permission for registries. (HT Photo)
Updated on May 10, 2024 06:16 AM IST
By, Noida

Delhi High Court orders NBCC to pay homebuyer 76L for failure to give flat

This decision came in a case of the NBCC failing to give possession of a flat to a homebuyer that is located in NBCC Green View Apartments in Gurugram

The Delhi high court underlined the significance of buying a house as “one of the most crucial financial and emotional investments for a family”. (HT Archive)
Updated on May 10, 2024 05:24 AM IST

Brigade Enterprises inks deal for Bengaluru housing project valued at 660 crore

Brigade Group's Bengaluru housing project is expected to be spread across 4.6 acres and its total development potential will be around 0.69 mn sq ft

Brigade Group has inked an agreement for a land parcel located in Bengaluru with a gross development value (GDV) of <span class='webrupee'>₹</span>660 crore (Representational photo)(Pixabay)
Published on May 09, 2024 08:42 PM IST

Manhattan apartment rents climb to highest on record for April

Manhattan apartment rents rose last month to a new high for April, an increase that suggests another record-shattering summer to come.

Manhattan apartment rents rose last month to a new high for April, an increase that suggests another record-shattering summer to come. (Representational photo)(Pixabay)
Published on May 09, 2024 11:23 AM IST
Bloomberg |

Major Chinese city scraps housing curbs as easing gains pace

Hangzhou removed all of its remaining homebuying curbs in the latest example of a local govt pursuing aggressive easing to end the property crisis

Hangzhou, a major city in eastern China, removed all of its remaining homebuying curbs in the latest example of a local government pursuing aggressive easing to end the property crisis. (Photo by AFP) / China OUT(AFP)
Published on May 09, 2024 11:16 AM IST
Bloomberg |

DLF sells all 795 flats for 5,590 crore in new Gurugram project in 3 days

DLF said its latest luxury housing project in Gurugram had achieved “a remarkable sellout valued at approximately ₹5,590 crore, within 3 days."

DLF, a listed real estate company, said on May 9 that it had sold all 795 apartments for <span class='webrupee'>₹</span>5,590 crore within three days of the launch of its new luxury housing project in Gurugram
Published on May 09, 2024 10:19 AM IST

Greater Noida authority holds talks with builders on homebuyer registry

Pending flat registrations have been a pressing issue in Noida and Greater Noida for a long time, prompting the UP government to resolve homebuyers' woes.

Many officials from the Confederation of Real Estate Developers' Associations of India (CREDAI) were present in the meeting.(Abhijit Bhatlekar/ Mint)
Published on May 09, 2024 12:32 AM IST
PTI |

Ghaziabad: All properties to be brought under new tax structure over four years

The move to implement the new property tax structure in Ghaziabad was vehemently opposed by councillors, who said it will “heavily burden the taxpayer”

The annual property tax is computed on the basis of rental values, said Ghaziabad municipal corporation officials. (HT Photo)
Updated on May 09, 2024 06:28 AM IST
By, Ghaziabad

NCLAT reserves order on Jaypee takeover, Yeida asks for additional 1,570 cr

In April, the Suraksha Group had offered to pay an additional compensation of ₹1,216 crore to farmers in five instalments over four years

The homebuyers said on Wednesday that the new development means that the litigation will drag on without a solution because the Suraksha Group was already reluctant to pay more to the farmers. Suraksha Group refused to comment on the development. (HT Archive)
Updated on May 09, 2024 12:01 PM IST
By, Noida

World Facilities Management Day: What keeps luxury projects in shipshape?

Facility management in luxury condos is all about having experts take care of residents’ needs, not to mention the high maintenance costs that go into it

These days several consultancies have started providing for facility management services in luxury real estate projects that are often managed by hotel management staff(Cushman & Wakefield)
Published on May 08, 2024 04:44 PM IST

UP govt asks Noida, G Noida to cancel allotments of realtors who still have dues

The UP government had given 60 days to realtors to either avail of the rebate, pay dues and obtain permission for registry or face cancellation of allotment

NThe policy was meant to help a large section of homebuyers in Noida, Greater Noida and Yamuna expressway areas, where an estimated 240,000 to 350,000 housing units are currently lying stalled owing to several reasons. (HT Archive)
Updated on May 08, 2024 05:30 AM IST
By, Noida

Man makes Lord Hanuman party to temple case in Delhi; fined

The litigant, Ankit Mishra, claimed to be the next friend of Lord Hanuman and challenged a property dispute decree in the city court

The high court directed Ankit Mishra to pay a fine of <span class='webrupee'>₹</span>1 lakh to the rightful owner of the property. (Representational image)
Updated on May 08, 2024 05:16 AM IST

59% increase in ghost malls in India; Delhi NCR, Mumbai top the list

NCR accounted for the highest number of ghost shopping centers measuring 5.3 mn sq ft (rise of 58% Y-o-Y), followed by Mumbai with 2.1 mn sq ft (up 86% YoY)

NCR accounted for the highest number of ghost shopping centers measuring 5.3 mn sq ft (rise of 58% Y-o-Y), followed by Mumbai with 2.1 mn sq ft (up 86% YoY) (PTI)
Published on May 07, 2024 04:52 PM IST

US renters seeing chance of owning a home at record low, NY Fed Survey shows

US renters are more pessimistic about their ability to ever own a home and households’ expectations of home-price growth has reaccelerated after falling in 2023

US renters are more pessimistic about their ability to ever own a home and households’ expectations of home-price growth has reaccelerated after falling last year, a new Federal Reserve Bank of New York survey showed (Representational photo)(Pixabay)
Published on May 07, 2024 10:11 AM IST
Bloomberg |

TCG Real Estate secures funding of 714 crore from SBI for Gurugram project

Energetic Construction Pvt. Ltd promoted by TCG Urban Infrastructure Holding Pvt Ltd has secured funding from SBI for the Gurugram project, the documents showed

TCG Real Estate has secured funding of <span class='webrupee'>₹</span>714 crore from State Bank of India for developing the World Trade Center project located in Gurugram. (Representational photo)(Pixabay)
Published on May 06, 2024 06:17 PM IST

Microsoft buys 48-acre land parcel in Hyderabad for 267 crore

The land parcel that Microsoft has bought is located in Elikatta Village, Hyderabad in Telangana. The sale deed was registered on April 18, documents showed

Tech giant Microsoft has bought an almost 48 acres land parcel in Hyderabad for <span class='webrupee'>₹</span>267 crore (REUTERS/ FILE)
Published on May 06, 2024 05:54 PM IST

JLL’s project and development services business in India to grow by 15-20%

JLL is also planning to focus on the senior living, warehousing and assets advisory business in India, two global CEOs of the company told HT Digital

JLL’s project and development services (PDS) footprint in India touched 250 million sq ft in FY2023 and is expected to grow at approximately 15-20% this fiscal, Cynthia Kantor, CEO, Project and Development Services (PDS) and Susheel Koul, CEO, Work Dynamics, Asia Pacific, Singapore, told HT Digital
Published on May 06, 2024 02:16 PM IST

Real estate trends: Mumbai homebuyers now upgrading to duplex and triplex flats

Move over jodi apartments. Luxury housing demand in Mumbai has now shifted to vertical duplex units with more height and large floor area, say realty experts

The latest trend that has caught on in Mumbai is that of duplex and triplex homes (Representational photo)(Pexels)
Published on May 06, 2024 10:48 AM IST

Noida real estate project faces corporate insolvency resolution process

ATS Heights Private Limited allegedly defaulted in payment of ₹285 cr and ₹47 cr to the lender thus inviting the insolvency process, said the NCLT order

The national company law tribunal has started corporate insolvency resolution process against ATS Knightsbridge project located in Noida's sector 124. (Getty Images/iStockphoto/ Representational image)
Published on May 06, 2024 09:14 AM IST

Kamla Market to get off-white facade like Connaught Place, revamped clock tower

MCD has begun working on restoring the corridors of the 72-year-old Kamla Market, and will repair the existing clock tower, officials said

An artist impression/visualisation of the revamped Kamla Market.
Updated on May 06, 2024 05:52 AM IST

6 things you need to know about inheritance tax

Currently, there is no income tax or stamp duties to be paid on inherited property in India. There are no capital gains taxes either

There is no income tax or stamp duties to be paid on inherited property in India. No capital gains tax either. (Representational photo) (Pexels)
Published on May 04, 2024 08:11 AM IST

Godrej Properties to market realty projects developed by Godrej & Boyce

Jamshyd Godrej and his sister controlled Godrej & Boyce will control the group's vast land bank, including 3,000 acres of prime Mumbai property

Jamshyd Godrej and his sister controlled Godrej & Boyce will control the group's vast land bank, including 3,000 acres of prime Mumbai property, while the other faction-led by Adi Godrej and Nadir Godrej will get to market the real estate projects for management fees..(Agency File Photo)
Published on May 04, 2024 07:39 AM IST
PTI |

Noida struggles to recover 8,300 crore dues from commercial project developers

As per the authority’s data, the biggest defaulter is a mega commercial project located in Sector 94. This project has a dues of over ₹2,100 crore

A mixed land use project in Sector 94 that has remained stuck for a long time. (HT Archive)
Updated on May 04, 2024 05:24 AM IST
By, Noida

Embassy Group's FY24 sales bookings increase by 85.5% to record 2,250 crore

Embassy Group said that the demand emanated from high-net-worth individuals and non-resident Indians for ready-to-move-in luxury projects and premium homes

Bengaluru-based Embassy Group said on May 2 that its sales bookings rose 85.5% in the last fiscal year to record <span class='webrupee'>₹</span>2,250 crore
Published on May 02, 2024 11:16 PM IST

520 lakh sq ft SM REIT-ready office space provides monetization opportunities

Of this 3% is that of Grade A supply and 20% of grade B supply, indicating a healthy potential for SM REIT listings in the commercial office space

Around 520 lakh square feet of office space is eligible for small and medium REITs (SM-REIT) listing, creating a monetization opportunity of <span class='webrupee'>₹</span>67,000 to <span class='webrupee'>₹</span>71,000 crore. (Picture for representational purposes only).
Published on May 02, 2024 10:53 PM IST

New York City’s rent-stabilized tenants face third year of price hikes

Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases

Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases as renters and landlords grapple with rising costs.(Pexels)
Published on May 02, 2024 09:59 AM IST
Bloomberg |

Janhvi Kapoor's childhood home in Chennai: You can now live here; see pics

Airbnb has announced Janhvi Kapoor's Chennai home as the only Indian property in its new ‘Icons’ list. You can now live at the mansion bought by Sridevi

Janhvi Kapoor's Chennai mansion is now available to rent on Airbnb.
Published on May 02, 2024 08:11 AM IST

Deemed conveyance can’t be denied if flat purchase agreement mandates it: HC

Bombay HC has held that Competent Authority is bound to grant Deemed Conveyance if the flat purchase agreement contains an obligation on part of the promoter

Bombay HC comes down hard on NGO for PILs on same issue
Updated on May 02, 2024 09:41 AM IST

Noida authority in high court to delay registry at Lotus 300 till dues are paid

Noida authority has said that it cannot allow registries without the realtor clearing financial dues. This is expected to further delay the handover of flats

The authority has expressed its inability to issue permission for registry as land cost dues amounting to <span class='webrupee'>₹</span>166 crore is still pending from the realtor against Lotus 300 (above) in Sector 107, Noida. (HT Photo)
Updated on May 02, 2024 06:14 AM IST
By, Noida
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