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Lodha is creating the world’s finest developments, redefining real estate

Recently, Lodha was adjudged as the ‘Top Developer of the Year’ at the Times Real Estate Icons West India 2020 basis a survey conducted by OMS – a division of Times Internet Ltd.

Lodha has emerged as India’s largest realty player for the last 7 years and has given landmark developments comparable to the world’s best.
Updated on Oct 12, 2020 06:03 PM IST

After the fall: Real estate in the aftermath of the COVID-19 crisis

The effect of the novel Coronavirus on Indian real estate - especially in Delhi-NCR - has been unraveling. In the initial three months of its episode, it halted the construction activities and fundamentally disintegrated the market. Amid this situation, however, leading real estate developers like T&T Group have adopted unprecedented strategies to cope with the “new normal” of real estate.

The Group in this scenario not only performed proficiently in spite of challenges but is also anticipating further improvement with its distribution capacity network and brand value.
Updated on Oct 09, 2020 06:59 PM IST

Covid-19, tax break push July housing sales in UK to highest in a decade

The prospect of long-term remote working and fresh fears of virus resurgence have led people to move out to countryside areas like Devon and Cornwall, both of which saw record-high sales.

A 'Help To Buy' sign stands outside new build homes in Handforth, Cheshire, U.K., July 7, 2020.(Bloomberg)
Updated on Aug 17, 2020 02:21 PM IST
ByBloomberg | Posted by Anubha Rohatgi

Registrar can’t direct housing society to issue NOCs to its member: Bombay HC

Acting on a complaint lodged by the member, the deputy registrar had on July 9, 2019 directed Shree Raghunandan co-operative housing society to issue necessary NOCs to the member for joining four tenements and converting user of the premises from residential to commercial.

Bombay high court(HT Photo)
Updated on Aug 10, 2020 01:27 PM IST
Hindustan Times, Mumbai | ByKanchan Chaudhari

Smartworks takes over 6 lakh sq ft office space on lease in Mumbai, Pune, Hyderabad

Smartworks Coworking Spaces Pvt Ltd, currently has 31 co-working centres, comprising about 60,000 seats and 40 lakh sq ft area, across nine cities in the country.

The co-working segment in India had been growing at a rapid pace since last few years, before it was hit by the Covid-19 pandemic.(HT File Photo used for representational purpose only)
Published on Aug 09, 2020 08:24 PM IST
New Delhi | ByPress Trust of India | Edited by Anubha Rohatgi

Migrants who left during lockdown returning to construction work in Noida: Naredco

The return of migrant workers has been facilitated by Naredco-UP as part of a memorandum of understanding it signed with the Yogi Adityanath government on May 29.

The UP government has been pushing for employment to migrant workers within the state and had reached out to realtors through Naredco.(PTI File / Photo used for representational purpose only)
Updated on Aug 09, 2020 03:48 PM IST
Noida | ByPress Trust of India | Posted by Anubha Rohatgi

South Korea to convert golf courses, military sites into residential apartments in Seoul

Finance Minister Hong Nam-ki said state-owned Taereung golf course, military base Camp Kim in central Seoul as well as a driving test center in western Seoul would be converted into residential developments.

File photo of an apartment complex in Seoul, South Korea.(REUTERS File)
Updated on Aug 04, 2020 01:28 PM IST
Seoul | ByReuters

Housing minister Hardeep Puri launches digital platforms to market residential properties

To achieve the government’s target under the Housing For All by 2022, Puri said the ministry has almost sanctioned the entire 1.12 crore dwelling units as envisaged under the Prime Minister Awas Yojana (Urban).

Union housing and urban affairs minister Hardeep Singh Puri launched ‘CREDAI Awaas App’ and NAREDCO’s online portal ‘HousingforAll.com’ through a video conference, on July, 2020.(Sanjeev Verma/HT File Photo)
Updated on Jul 31, 2020 09:29 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Ansal Properties posts 210 cr loss in 4th quarter of FY20

Total income fell to ₹406.98 crore in the fourth quarter last fiscal, from ₹461.54 crore in the same period a year ago, according to a regulatory filing.

Ansal Properties has huge borrowings from several banks. Some of the banks loans have turned non-performing assets (NPA).(HT File Photo)
Updated on Jul 31, 2020 02:18 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Godrej Properties looks to increase market share amid Covid-19 pandemic

Reality firm Godrej Properties’ sales bookings in 2019-20 grew 11 per cent to Rs 5,915 crore, and resulted from the sale of 7,415 homes with a total area of 8.8 million sq ft. This averages to over 20 homes per day.

Godrej Properties Executive Chairman Pirojsha Godrej ( in pic) says the housing demand will certainly be impacted due to the economic slowdown caused by the pandemic but the demand from prospective homebuyers will further consolidate towards large organised developers with better track record in execution.(Mint File Photo t)
Updated on Jul 12, 2020 03:56 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

CREDAI seeks Tamil Nadu CM’s help for speedy approval of projects in Coimbatore

In a representation listing the 14-point charter of demands, CREDAI president Surender Vittel sought specified time of clearance of building projects since the current approval process takes a minimum of six months to one year.

Due to circumstances arising from coronavirus pandemic, CREDAI, Coimbatore, has requested approvals of upto 2 lakh sq ft in the city’s LPA itself which would reduce unnecessary commute and contact/physical interaction.(HT File Photo used for representational purpose only)
Updated on Jul 11, 2020 03:13 PM IST
Coimbatore | ByPress Trust of India | Posted by Anubha Rohatgi

Signature Global to invest Rs 225 cr in affordable housing project in Gurugram

Signature Global said in a statement that the project cost is estimated at Rs 225 crore.

In the last five years, the company has launched around 20 affordable housing projects in Gurugram, Sohna and Karnal (Haryana).(Photo: @SignatureGlobal / Facebook)
Updated on Jul 11, 2020 02:28 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Tokyo witnessing empty offices as Covid-19 pandemic gives tenants pause

Fujitsu Ltd., one of Japan’s largest employers, has already declared its intent to cut its office space by 50% over the next three years and have 80,000 workers work mostly from their homes.

The vacancies trend was halted by the pandemic, which has made prospective tenants reluctant to sign leases and raised questions worldwide about the future of the office.(Reuters File / Photo used for representational purpose only)
Updated on Jul 10, 2020 02:25 PM IST
ByBloomberg | Posted by Anubha Rohatgi

Covid-19 pushes net leasing of office space down 73% in April-June across 8 Indian cities

During the first half of 2020, the net office space leasing declined 57 per cent to 110.75 lakh sq ft from 255.48 lakh sq ft in the corresponding period of last calendar year.

Cities like Delhi NCR and Bengaluru saw negative absorption which also pushed the overall net absorption downwards, according to a report on office space leasing.(Yogendra Kumar/HT File / Photo used for representatonal purpose only)
Updated on Jul 09, 2020 05:57 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

India improves ranking in Global Realty Transparency Index, ranks 34th

The country ranks 34th globally on the index, with higher levels of transparency observed in India due to regulatory reforms, enhanced market data and sustainability initiatives, according to a statement by property consultant JLL India.

This improvement is led by the progress in the country’s REIT (Real Estate Investment Trust) framework attracting greater interest from institutional investors.(HT FIle Photo)
Updated on Jul 07, 2020 05:30 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Puravankara Group to launch 11 residential projects across 5 cities in FY21

The company is expecting revenue of over Rs 6,000 crore from these 11 projects with an average realisation of Rs 7,500 per sqft from Purvanakara projects (2.67 million sqft) and Rs 5,500 per sqft from Provident projects (7.56 million sqft).

The company plans to launch a total of six projects under the Purvanakara luxury brand and five under the Provident affordable housing brand.(HT File / Photo used for representational purpose only)
Updated on Jul 06, 2020 04:46 PM IST
Mumbai | ByPress Trust of India | Posted by Anubha Rohatgi

RERA authorities to ask RBI for one-time debt recast in realty to help developers

Real estate industry bodies CREDAI and Naredco have been demanding one time restructuring of developers outstanding loans with financial institutions to prevent bad loans and making them eligible for fresh borrowings.

According to a real estate industry expert, the complaints of home buyers could rise due to the current pandemic and efforts need to be made to resolve them amicably.(Burhaan Kinu/HT File Photo)
Updated on Jul 05, 2020 03:01 PM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

‘Office space leasing dipped 36% in Jan-Jun across 7 top cities due to Covid-19’

Majority of the deals expected to take place in the second quarter of 2020 were pushed to subsequent quarters, or are being reconsidered, according to real estate consultant Colliers.

According to realty consultant Colliers, office space leasing will decline 34 per cent to 38 million sq ft during the full calendar year 2020.(HT File Photo)
Updated on Jul 04, 2020 12:39 AM IST
New Delhi | ByPress Trust of India| Posted by Anubha Rohatgi

Bengal realtors see gradual recovery in sales after lifting of lockdown curbs

Bengal’s real estate developers have claimed that around 2,000 inventory units, which remained unsold, have been purchased by individuals, and there will be a 10-15 per cent jump in prices for new ones.

The real estate industry in West Bengal has been hit severely due to the coronavirus outbreak and developers have sold units “either at a loss or with no margins in most of the projects”, according to Credai West Bengal president Sushil Mohta.(Livemint File / Photo used for representational purpose only)
Updated on Jul 01, 2020 12:25 AM IST
Kolkata | ByPress Trust of India | Posted by Anubha Rohatgi

Indian-origin hotelier secures £230 mn funding for luxury UK hotel

The transaction was agreed during the Covid-19 pandemic lockdown and has been branded a “vote of confidence” in one of the largest recent development facilities for a central London hotel.

A man wearing a protective mask strolls across a bridge in central London.(AP File)
Updated on Jul 01, 2020 12:11 AM IST
London | ByPress Trust of India | Posted by Anubha Rohatgi

Real estate developers resort to layoffs, pay cuts as Covid-19 hits sales

As per estimates by MyHiringClub.com and Sarkari-Naukri.info, around two lakh employees (including the white-collared) in the real estate sector are expected to be laid off due to the coronavirus crisis.

A report by non-broking real estate research firm Liases Foras said that for each month of the lockdown, there is a revenue loss of 8.3 percent.(HT File)
Updated on Jun 28, 2020 06:54 PM IST
Mumbai | ByPress Trust of India

Office space leasing may fall 30% in 2020 due to Covid-19: JLL India CEO

Ramesh Nair, JLL India CEO said that the ‘work for home’ policy would have an adverse impact on office demand, but added that the need for larger space to maintain social distancing could compensate some of the possible loss in demand.

The corporates have cut their requirements for office space in area terms by 20% and are also negotiating for better terms, such as increased rent-free period for doing interiors before occupying the space,(HT File)
Updated on Jun 28, 2020 01:06 AM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Gurugram: Real estate stutters due to pandemic, 81% fall in housing sales, says report

The report says residential property sales across the top seven cities of the country plunged to 12,720 units in the second quarter of this year, as compared to 68,000 units in the same period of 2019.

Echoing a similar view, Gurugram-based developers and consultants said sales were virtually non-existent and that they were finding it difficult to manage even client visits.(Burhaan Kinu/HT file photo. Representative image)
Updated on Jun 26, 2020 12:14 PM IST
Hindustan Times, Gurugram | By

Office sector expected to lead post-Covid-19 recovery in real estate sector: Report

In the larger (office) markets of Delhi-NCR and Mumbai, developers are open to discuss extra rent free period in cases of new deals. Similar trend seen in Chennai and Kolkata, according to a report by a global realty firm.

The office sector is expected to lead the recovery cycle in the real estate sector, according to a report by global reality firm JLL(HT File Photo)
Updated on Jun 23, 2020 01:46 AM IST
Hindustan Times, New Delhi | Byhindustantimes.com |Edited by Anubha Rohatgi

Realty firm Puravankara to invest Rs 1,100 cr on 2 new housing projects in Bengaluru

In the current situation, the aim is to make it convenient for buyers to access projects at the click of a button from anywhere in the world, said company’s MD Ashish R Puravankara.

In the last four decades, Puravankara Ltd has completed and delivered more than 40 million sq ft area. It has presence in southern and western parts of India.(PTI FIle / Representational Photo)
Updated on Jun 22, 2020 12:30 AM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

‘Housing sales plunged 75% due to Covid-19 pandemic’: Property brokerage firm head

Real estate developers and property brokerage firms are adopting digital mode for sales and marketing but prospective homebuyers are cautious due to uncertainties, according to Ankit Kansal, the head of a property brokerage firm.

The builders have not reduced the basic selling prices of housing units, but they are sweetening the deal for serious buyers through discounts and attractive payment plans.(HT File)
Updated on Jun 21, 2020 12:02 AM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Office rentals may dip 5-10% on lower demand from corporates due to Covid-19 pandemic

The outbreak of the coronavirus disease will have a short-term impact on India’s office market, with demand likely to fall 45 per cent, said C&W Managing Director (India and Southeast Asia) Anshul Jain.

Even though office rentals may witness a dip due to lack of demand because of Covid-19 pandemic, the office market in India would grow in a medium-to-long term, according to a property professional.(Yogendra Kumar/HT File Photo)
Updated on Jun 20, 2020 01:02 AM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

Covid-19: FM interacts with realtors’ body to assess real estate sector’s problems

Sources said that the realtors’ association sought relief from the government to tide over this crisis being faced by the real estate sector due to Covid-19 pandemic.

Union finance minister Nirmala Sitharaman held an interaction via video conference with realtors’ body NAREDCO on June 19, 2020.(Photo Credit:Nitmala Sitharaman Office @TwitterI)
Updated on Jun 20, 2020 12:26 AM IST
New Delhi | ByPress Trust of India | Posted by Anubha Rohatgi

‘Urban spaces changing rapidly’: Bengal govt paper on cities in post-Covid-19 era

According to a paper on future of cities in the post-Covid-19 world, home spaces would need to expand as families will work or learn from there.

People at the food court of a mall in New Delhi. In the post-Covid-19 world, shopping malls will become “warehouses of e-commerce”, according to a white paper of the West Bengal goverment.(Amal KS / HT File Photo)
Updated on Jun 13, 2020 07:27 PM IST
Kolkata | ByPress Trust of India | Posted by Anubha Rohatgi

TN deputy CM seeks PM Modi’s intervention to revive real estate industry

O Panneerselvam’s letter to the Prime Minister also highlighted the fact that the real estate sector was a major contributor to the Gross Domestic Product (GDP) and to growth, both directly and through allied industries.

Tamil Nadu’s deputy chief minister O Panneerselvam has asked PM Modi to direct concerned ministries to initiate steps for reviving the eal estate sector.(PTI File Photo)
Updated on Jun 13, 2020 06:57 PM IST
Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Anubha Rohatgi
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