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Real estate moving towards smaller homes across India: Report

real estate

Updated on Sep 24, 2019 10:48 AM IST

A study released by realty consultant Anarock on Monday said that average apartment sizes have shrunk by 27% over the past five years.

While average size of apartments offered for sale across the country came down to 1,020 sq ft, in the NCR the size was 1,390 sq ft.(Photo: Bloomberg)

Hindustan Times, Gurugram | ByHT Correspondent

Samajwadi Awas awaiting buyers, GDA writes to state officials to decide cost of flats

The Ghaziabad development authority (GDA) has raised this issue with the government to decide the fate of the flats constructed under the Samajwadi Awas Yojna, so that they can be disposed of at the earliest.

The GDA had constructed 2,563 such flats – 2,267 at Koyal Enclave and Indraprastha housing schemes, and 296 at Madhuban Bapudham in 2015.(Photo: Mint/ Representative image)

real estate

Updated on Sep 25, 2019 11:35 AM IST

Hindustan Times, Ghaziabad | ByPeeyush Khandelwal

US real estate sales to Chinese buyers to hit 8-year low: Report

Based on its enquiry and buyer data, as well as feedback from industry partners, the site estimated US home sales to Chinese buyers would fall to between $10 billion and $12 billion in the year to March 2020.

real estate

Updated on Sep 23, 2019 05:04 PM IST

Reuters | ByReuters

Hotel stocks rally up to 9 percent on GST rate cut

The GST (goods and services tax) rate on hotel rooms with tariffs of up to ₹7,500 per night has been cut to 12 per cent from the existing 18 per cent, officials attending the GST Council meet said.

The GST rate on hotel rooms with tariffs of up to <span class='webrupee'>₹</span>7,500 per night has been cut to 12 per cent from the existing 18 per cent.(HT Photo/Representative Image)

real estate

Published on Sep 23, 2019 01:31 PM IST

New Delhi | ByPress Trust of India

In UN building, Donald Trump sees a real estate deal that got away

US President Donald Trump recalls the overtures he made to rebuild the 39-story United Nations buildingin the early 2000s and posits that he could have done a better job with the $2.3 billion project, which took about three years longer than anticipated and came in more than $400 million over budget.

US President Donald Trump is scheduled to speak to the UN General Assembly on Tuesday.(Reuters Photo)

real estate

Updated on Sep 23, 2019 05:26 PM IST

Washington | ByAssociated Press

Godrej Construction to focus more on infra as realty sector slowdown bites more

The construction materials business arm is a strategic business unit of the diversified Godrej & Boyce Mfg Co and is also eyeing a 20 per cent jump in revenue this fiscal to ₹300 crore from ₹250 crore last fiscal year.

Godrej Construction is going to shift focus to urban infrastructure.(Mint photo)

real estate

Updated on Sep 22, 2019 05:54 PM IST

Mumbai | ByPress Trust of India

Hi-Tech City developer seeks entire land parcel for development and grant of extension

According to authority officials, the Wave City project of the township was planned over an area of 4,494 acres as per the detailed project report, although about 3,035 acres of land has been acquired so far.

The developer of Hi-Tech City Township has said that they wish to retain the entire land earmarked their project and do not wish to part away with any land parcel.(HT Photo)

real estate

Updated on Sep 22, 2019 05:28 PM IST

Hindustan Times, Ghaziabad | ByHT Correspondent

Housing societies still find it difficult to get land ownership

It’s been 2 years since policy reforms made transfer of land ownership from developers to housing societies easier. The impact, however, is negligible.

A Conveyance Deed transfers land ownership from the developer or previous land holder to the cooperative housing society. However, many CHS in Mumbai haven’t applied for it.(Pramod Thakur/HT Photo)

real estate

Published on Sep 21, 2019 08:00 PM IST

Hindustan Times | ByJanaki Krishnamoorthi

Driven by Chinese demand, Singapore luxury apartment sales hit 11-year high

Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbours, as well as multimillionaires from mainland China.

In the first eight months of 2019, 68 condominium units in Singapore were sold for S$10 million and more, the highest tally since the corresponding period of 2008.(AP Photo)

real estate

Updated on Sep 21, 2019 03:11 PM IST

Singapore | ByReuters

‘Blockbuster Friday’ announcements for India Inc will have ripple effect on real estate too: CREDAI

The government slashed corporate tax by almost 10 percentage points as it looked to pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments with a ₹1.45-lakh crore tax break.

The realty industry responded positively to the government’s decision to cut corporate tax.(Mint Photo)

real estate

Updated on Sep 21, 2019 03:00 PM IST

New Delhi | ByPress Trust of India

New US rent caps already eroding values of apartments

Capitalization rates, a measure of investment yield that rises as prices fall, climbed in the second quarter in New York, California and Oregon, all states that have enacted rent caps, according to an analysis by Real Capital Analytics Inc.

Rising rents have unleashed a pro-tenant fervor among lawmakers in some of the country’s priciest coastal markets as they wrestle with ways to curb unaffordability.(Reuters Photo)

real estate

Updated on Sep 21, 2019 02:47 PM IST

Bloomberg | ByOshrat Carmiel

Singapore luxury apartment sales hit 11-year high, driven by Chinese demand

Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbours, as well as multimillionaires from mainland China.

Sales of apartments also exceeded the numbers racked up for each full year from 2011 to 2018, the consultants’ analysis of transaction data shows.(Representational Image)

real estate

Updated on Sep 20, 2019 12:50 PM IST

Singapore | ByReuters

GB Nagar to e-auction unsold flats to recover dues from builders

Homebuyers, who have won compensation from consumer forums and UP-Rera, are finding it difficult to get the orders executed as developers are not paying them the compensation.

The administration will have to identify all unsold flats, which have no legal issue. The administration will first take physical possession of these flats and then start the e-auction.(Burhaan Kinu / Hindustan Times)

real estate

Updated on Sep 20, 2019 11:57 AM IST

Hindustan Times, Nodia | ByVinod Rajput and Preety Acharya

Developers want prices revised, limit removed for affordable houses in Gurugram

While a house is classified as affordable in Haryana if it is priced less than 25 lakh, the norms fixed by the Central government have stipulated the price at Rs 40 lakh for metropolitan cities.

Since 2014, the DTCP has issued licences for over 50 housing projects in this category and occupation certificates for three to four such projects have been given.(HT FILE)

real estate

Updated on Sep 19, 2019 05:59 AM IST

Gurugram | ByHT Correspondent

Area for affordable housing units doubled in Haryana

These houses are allotted to the buyers on the basis of a draw of lots conducted under the supervision of government authorities. The scheme is open to all applicants but preference is given to those who have not been allotted a plot or flat in HSVP or other licensed colonies in the state.

In August, the state government had increased the area available for affordable category housing from 15 acres to 30 acres per sector.(HT FILE)

real estate

Updated on Sep 19, 2019 05:59 AM IST

Gurugram | ByAbhishek Behl

Funds worth Rs 90,000 cr required for stressed housing units: Report

On Saturday, Finance Minister Nirmala Sitharaman announced that the government will set up a special window to provide last-mile funding for housing projects which are non-NPAs and non-NCLT in the affordable and middle income category.

PropEquity said Rs 90,000 crore fund will be required for a total of 7.4 lakh units that are stressed. (Photo by Sakib Ali/Hindustan Times)

real estate

Updated on Sep 18, 2019 12:36 PM IST

New Delhi | ByPress Trust of India

The gravity of Altico Capital’s default and what it tells us about realty sector

Banks are stuck with a potential bad loan mess in the roughly ₹4,000 crore exposure they have. Flawed risk management at banks is to be blamed, but regulatory rules, too, has contributed to the laxity.

real estate

Updated on Sep 17, 2019 03:58 PM IST

livemint | ByAparna Iyer

China’s home price growth at weakest, developers seen cutting prices

Chinese regulators have vowed to refrain from stimulating the real estate sector as they roll out measures to boost the broader economy hit by the Sino-US trade war and slowing consumer demand.

On a monthly basis, average new home prices in China rose 0.5% in August, less than July’s growth of 0.6% and the smallest increase since February.(Photo: Bloomberg)

real estate

Updated on Sep 17, 2019 03:21 PM IST

Beijing | ByReuters

UP Rera will hand over flats to buyers if authorities delay occupancy papers

In the order issued Monday, UP-Rera secretary Abrar Ahmed said that as per section 11(4)b of the RERA Act, the promoter shall be responsible to obtain the completion certificate or occupancy certificate or both as applicable from the competent authority.

Under Uttar Pradesh Urban Planning & Development Act , a developer will complete the development according to the approved plan and send a notice of completion to the authority concerned and obtain a completion certificate from it.(HT Photo)

real estate

Updated on Sep 17, 2019 02:26 PM IST

Hindustan Times, Greater Noida | ByKapil Datta

Govt’s stressed fund a blessing for many stalled housing projects: MahaRERA chief

At present, MahaRERA is working with homebuyers and various stakeholders to help revive around 12 stressed projects in Maharashtra.

NCLT resolution would lead to a haircut and ouster of the developer.(Mint Photo)

real estate

Updated on Sep 16, 2019 08:51 PM IST

livemint, Mumbai | ByBidya Sapam

China’s property investment growth at 4-month high in August

A robust real estate industry has helped China counter a broader slowdown in its economy from a protracted trade war with the United States.

Property investment is a significant contributor to growth in China.(Bloomberg Photo)

real estate

Updated on Sep 16, 2019 05:48 PM IST

Beijing | ByReuters

Australia’s property recovery remains in-house as rest of economy struggles

Growth in the A$1.9 trillion ($1.3 trillion) economy slowed sharply in the second-half of 2018, largely because Australia’s indebted households cut spending on everything from clothing and footwear to eating out.

The RBA easings have boosted the housing market with mortgage approvals up 5% in July, the strongest in four years while auction activity in the biggest markets of Sydney and Melbourne has been solid after two years of tepid sales.(Reuters Photo)

real estate

Updated on Sep 16, 2019 05:48 PM IST

Sydney | ByReuters

Chennai has least delayed housing stock of Top 7 cities: Report

Chennai’s real estate market reflects little of the automobile sector’s slowdown.

Chennai’s diversified economy is keeping the momentum upbeat for its realty market.(Photo: Hindustan Times)

real estate

Updated on Sep 16, 2019 03:01 PM IST

Chennai | ByPress Trust of India

Impact of ₹10,000 crore fund for realty sector will be limited, say experts

The Credai, a group of private realtors, said the ₹10,000 fund will not benefit homebuyers in the projects such as Jaypee Group, Amrapali, Unitech, Unnati Group, 3C Group and Shubhkamna among others, which are facing litigation and have been put into the category of non-performing assets.

The Centre has announced <span class='webrupee'>₹</span>20,000 crore affordable housing package for the benefit of around 3.5 lakh home owners in the country.(Sunil Ghosh / HT Photo)

real estate

Updated on Sep 16, 2019 01:42 PM IST

Hindustan Times, Noida | ByVinod Rajput

Prestige Estates to invest ₹500 crore in first housing project in NCR

In its last 32 years of operations, the Bengaluru-based Prestige Group has completed 236 real estate projects comprising nearly 125 million sq ft of developable area, mostly in south India.

real estate

Updated on Sep 15, 2019 08:10 PM IST

New Delhi | ByPress Trust of India

Government’s measures to boost real estate disappointing: CREDAI

CREDAI’s National Chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact as it excludes projects which are either facing insolvency proceedings or become non-performing assets.

Finance Minister Nirmala Sitharaman announced that the government will set up a special window to provide last mile funding for housing projects which are non-NPA and non-NCLT in the affordable and middle income category.(HT Photo)

real estate

Updated on Sep 15, 2019 07:49 PM IST

New Delhi | ByPress Trust of India

Is government’s $1.4 billion housing fund enough to revive sector?

Finance Minister Nirmala Sitharaman announced the setting up of a 100 billion rupee fund to finance middle-income and affordable housing projects.

A series of economic shocks in the last few years have dented property-market sentiment and caused funding for developers to dry up.(Photo: Mint)

real estate

Updated on Sep 15, 2019 01:09 PM IST

Bloomberg | ByDhwani Pandya

As realty numbers stand still, how is Hyderabad still growing?

Policy reform, pro-industry measures and a focus on investment have helped the city boom.

An increase in office space investment has helped generate employment, leading to a rise in demand for residential realty.(AFP)

real estate

Updated on Sep 14, 2019 08:38 PM IST

ByDipanjan Sinha

Rs 20,000 crore last mile affordable housing package to benefit 3.5 lakh house owners

Finance Minister Nirmala Sitharaman announced a last mile Rs 20,000 cr affordable housing package to benefit around 3.5 lakh home owners. The govt will contribute around Rs10,000 cr to this fund on the lines of NIIF, while investors like LIC, private capital, sovereign funds, DFI will contribute the remaining Rs 10,000 cr

The window will provide the much needed last mile funding for housing projects which are non-NPA and non-NCLT projects.(Mint Photo)

real estate

Updated on Sep 14, 2019 06:29 PM IST

livemint, New Delhi | ByUtpal Bhaskar

A $135 million bond payment is late and stuck in Argentina

Under the new currency rules imposed by the government to try to staunch dollar outflows and stabilize the peso, the cash couldn’t be sent to creditors’ overseas accounts.

The money held up in Argentina owed to overseas IRSA creditors totals about $80 million.(IRSA)

real estate

Updated on Sep 14, 2019 04:59 PM IST

Bloomberg | ByCarolina Millan , Pablo Gonzalez and Ben Bartenstein

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Real Estate

A study released by realty consultant Anarock on Monday said that average apartment sizes have shrunk by 27% over the past five years.

The Ghaziabad development authority (GDA) has raised this issue with the government to decide the fate of the flats constructed under the Samajwadi Awas Yojna, so that they can be disposed of at the earliest.

Based on its enquiry and buyer data, as well as feedback from industry partners, the site estimated US home sales to Chinese buyers would fall to between $10 billion and $12 billion in the year to March 2020.

The GST (goods and services tax) rate on hotel rooms with tariffs of up to ₹7,500 per night has been cut to 12 per cent from the existing 18 per cent, officials attending the GST Council meet said.

The construction materials business arm is a strategic business unit of the diversified Godrej & Boyce Mfg Co and is also eyeing a 20 per cent jump in revenue this fiscal to ₹300 crore from ₹250 crore last fiscal year.

According to authority officials, the Wave City project of the township was planned over an area of 4,494 acres as per the detailed project report, although about 3,035 acres of land has been acquired so far.

It’s been 2 years since policy reforms made transfer of land ownership from developers to housing societies easier. The impact, however, is negligible.

Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbours, as well as multimillionaires from mainland China.

The government slashed corporate tax by almost 10 percentage points as it looked to pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments with a ₹1.45-lakh crore tax break.

Capitalization rates, a measure of investment yield that rises as prices fall, climbed in the second quarter in New York, California and Oregon, all states that have enacted rent caps, according to an analysis by Real Capital Analytics Inc.

Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbours, as well as multimillionaires from mainland China.

Homebuyers, who have won compensation from consumer forums and UP-Rera, are finding it difficult to get the orders executed as developers are not paying them the compensation.

While a house is classified as affordable in Haryana if it is priced less than 25 lakh, the norms fixed by the Central government have stipulated the price at Rs 40 lakh for metropolitan cities.

These houses are allotted to the buyers on the basis of a draw of lots conducted under the supervision of government authorities. The scheme is open to all applicants but preference is given to those who have not been allotted a plot or flat in HSVP or other licensed colonies in the state.

On Saturday, Finance Minister Nirmala Sitharaman announced that the government will set up a special window to provide last-mile funding for housing projects which are non-NPAs and non-NCLT in the affordable and middle income category.

Banks are stuck with a potential bad loan mess in the roughly ₹4,000 crore exposure they have. Flawed risk management at banks is to be blamed, but regulatory rules, too, has contributed to the laxity.

Chinese regulators have vowed to refrain from stimulating the real estate sector as they roll out measures to boost the broader economy hit by the Sino-US trade war and slowing consumer demand.

In the order issued Monday, UP-Rera secretary Abrar Ahmed said that as per section 11(4)b of the RERA Act, the promoter shall be responsible to obtain the completion certificate or occupancy certificate or both as applicable from the competent authority.

At present, MahaRERA is working with homebuyers and various stakeholders to help revive around 12 stressed projects in Maharashtra.

A robust real estate industry has helped China counter a broader slowdown in its economy from a protracted trade war with the United States.

Growth in the A$1.9 trillion ($1.3 trillion) economy slowed sharply in the second-half of 2018, largely because Australia’s indebted households cut spending on everything from clothing and footwear to eating out.

Chennai’s real estate market reflects little of the automobile sector’s slowdown.

The Credai, a group of private realtors, said the ₹10,000 fund will not benefit homebuyers in the projects such as Jaypee Group, Amrapali, Unitech, Unnati Group, 3C Group and Shubhkamna among others, which are facing litigation and have been put into the category of non-performing assets.

In its last 32 years of operations, the Bengaluru-based Prestige Group has completed 236 real estate projects comprising nearly 125 million sq ft of developable area, mostly in south India.

CREDAI’s National Chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact as it excludes projects which are either facing insolvency proceedings or become non-performing assets.

Finance Minister Nirmala Sitharaman announced the setting up of a 100 billion rupee fund to finance middle-income and affordable housing projects.

Policy reform, pro-industry measures and a focus on investment have helped the city boom.

Under the new currency rules imposed by the government to try to staunch dollar outflows and stabilize the peso, the cash couldn’t be sent to creditors’ overseas accounts.

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