Properties

Registration of properties in Mumbai city rises 5% in Nov: Knight Frank

Registration of properties in Mumbai municipal region rose 5 per cent to over 10,200 units during November on better housing demand, according to Knight Frank India. As many as 9,736 units were registered during November 2023. In a statement on Saturday, real estate consultant Knight Frank India said that Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), recorded 10,216 property registrations in November 2024. The data is as of 8 pm on Saturday. The number might increase slightly. Registration of properties declined in November compared to 12,960 units registered in October. Knight Frank India CMD Shishir Baijal said the sequential dip following the festive-driven surge in October reflects a natural phase of market consolidation. "Significantly, the increasing demand for premium properties and larger living spaces underscores a decisive shift towards quality, value, and long-term investment in Mumbai's ever-dynamic real estate landscape," he add

Conflict in Myanmar sparks surge in property purchases in Thailand

From January to September, over 1,000 units worth 5.46 billion baht ($158 million) were sold to Myanmar nationals, REIC data showed

DLF to invest Rs 8,000 crore to build super-luxury project in Gurugram

Realty major DLF will invest around Rs 8,000 crore to develop an ultra-luxury housing project in Gurugram as it seeks to encash strong demand for premium homes. Last month, DLF did a pre-launch of its 17-acre super-luxury housing project 'The Dahlias' at DLF 5, Gurugram, after obtaining all regulatory approvals and has received a good response from customers. The company will develop around 420 apartments in this project, which is the second ultra-luxury offering from DLF after the successful delivery of 'The Camellias'. According to sources, DLF will invest around Rs 8,000 crore over the next 4-5 years on the construction of this new project, comprising nearly 50 lakh square feet of area. In a conference call with analysts held recently, DLF's Managing Director Ashok Tyagi informed that the company is expecting Rs 26,000 crore in revenue from this new super-luxury project in Gurugram based on the current pre-launch price. "In RERA, what we have filed now is the revenue of Rs 26,0

SC rejects plea alleging contempt of demolition order by three states

The Supreme Court on Thursday refused to entertain a plea alleging contempt of its order on demolition of properties by the authorities in Uttarakhand, Rajasthan and Uttar Pradesh. A bench headed by Justice B R Gavai and comprising Justices P K Mishra and K V Viswanathan said it was not inclined to entertain the plea filed by the petitioner who was not directly or indirectly related to the alleged act. "We don't want to open a pandora box," said the bench. The court said it will hear those affected by the demolition of properties. The petitioner alleged that authorities in Haridwar, Jaipur and Kanpur had demolished properties in contempt of the apex court's order which had said that demolitions would not be carried out without its permission. The top court had earlier reserved its verdict on a batch of petitions raising the plea that properties, including those belonging to persons accused of crimes, were being demolished in several states. The apex court had said in its Septembe

Godrej acquires 3-acre land in Ahmedabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd (GPL) has acquired around 3 acres of land in Vastrapur, Ahmedabad to develop a housing project having an estimated sales of Rs 1,300 crore. The company did not disclose the deal value and the name of the seller. "The development on this land is estimated to have a potential of ~0.9 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated booking value of about Rs 1,300 crore," Godrej Properties said in a regulatory filing. Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are happy to add our second project in Ahmedabad. This will further strengthen our presence in Ahmedabad and complement our strategy of deepening our presence in key micro-markets across India's leading cities." Earlier this month, Godrej Properties won bids to acquire 3 adjoining plots totalling 6.5 acres in Mumbai Metropolitan Region (MMR) to develop a housing project with a revenue potential of .

Demolition of properties: SC says it will lay down guidelines for citizens

The Supreme Court on Tuesday said it will lay down guidelines for all citizens and not for any particular community on the issue of demolition of properties. Observing that its directions will be applicable pan-India, the apex court said it will make it clear that merely because a person is an accused or even a convict, it can't be a ground for demolition of property. "Whatever we are laying down, we are a secular country. We are laying it down for all the citizens, for all the institutions not for any particular community," a bench of Justices B R Gavai and K V Viswanathan said. Observing that there can't be a different law for a particular religion, the bench said it will not protect any unauthorised constructions on public roads, government lands or forests. "We will take care to ensure that our order does not help the encroachers on any of the public places," the bench said. The hearing in the matter is underway. The top court is hearing arguments on a batch of pleas which ha

Why are Indians rushing to buy property in Greece?

ED attaches immovable properties worth Rs. 298.21 crore of Chettinad Group

ED initiated an investigation based on an FIR registered by the Directorate of Vigilance and Anti-Corruption (DVAC), Chennai

Amber Dalal case: ED raids Mumbai properties, seizes Rs 37-cr worth deposit

Bank and demat account deposits apart from cash worth about Rs 37 crore has been seized by the ED as part of a money laundering probe against a Mumbai-based financial consultant and his company who are alleged to have duped investors of Rs 600 crore through a Ponzi scheme. The federal agency said on Sunday that the action was undertaken after carrying out raids in the metropolitan city on June 21 against Amber Dalal and his company Ritz Consultancy Services. The Enforcement Directorate case of money laundering stems from a Mumbai Police FIR that charged the Chartered Accountant and his company with taking money from investors through a "suspected Ponzi scheme that promised high returns." Dalal "absconded" with this money after giving initial returns. It has been gathered that Dalal raised more than Rs 600 crore from 1,300 investors, the ED said in a statement. He was arrested by the EOW, Mumbai Police and is presently under judicial custody, it said. Dalal raised money from invest

Mumbai property registrations rise 11% to 11,628 units in April: Report

Registration of properties in the Mumbai municipal area rose 11 per cent in April to 11,628 units mainly on strong housing demand, according to Knight Frank. In April 2023, the registration of properties in Mumbai stood at 10,514 units. In March 2024, the registration of properties stood at 14,145 units. According to Knight Frank, the registration of properties stood at 11,628 units last month. "The enduring confidence of homebuyers in the Mumbai market has maintained a positive outlook. This optimism has driven Mumbai's property registrations consistently exceeding the 10,000 mark for the fourth consecutive month in 2024," Knight Frank said. Of the overall registered properties, residential units constitute 80 per cent. Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, "The buoyant market conditions have significantly boosted the state treasury, marking its highest-ever revenue collection for April. Property registrations in April have surged, highlighting

ED attaches businessman Raj Kundra's properties worth Rs 97.79 crore

Attached properties include a flat located in Juhu, registered under the name of Kundra's spouse and actress, Shilpa Shetty

Hidden billions in Tokyo real estate market lure activist hedge funds

In Japan, there's a huge gap -22 trn yen ($143 bn) by one estimate - between how firms value their real estate assets on their books, versus what those properties would fetch if sold in current market

Godrej Properties buys land in Hyderabad for Rs 1,300 cr housing project

This is the company's second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs 4,800 crore

Properties in Bengaluru to get digital ownership document: CM Siddaramaiah

The Karnataka government will embark on an ambitious project of digitising property tax records of all 20 lakh properties in Bengaluru and issue digital e-Khata (legal document issued to property owners) from fiscal year 2024-25, Chief Minister Siddaramaiah said in his budget speech on Friday. Noting that the state capital was headed towards a record' tax collection of Rs 4,300 crore in the current fiscal, which is Rs 1000 crore more than 2022-23, Siddaramaiah said the target in 2024-25 will be Rs 6,000 crore. This target of Rs 6,000 crore revenue will be achieved by preventing leakages in the tax collection system, he said. Siddaramaiah said additional non-tax resources of Rs 2,000 crore will be mobilised through revised advertisement policies and premium Floor Area Ratio (FAR) policy from this fiscal year. FAR is a formula based on the building's construction area and total floor area that is usable. The Chief Minister said augmentation of resources, reducing traffic congestion,

AAP govt announces 'anywhere registration' policy for properties in Delhi

Properties in Delhi can be registered at any sub-registrar's office, Revenue Minister Atishi said on Thursday, announcing the 'Anywhere Registration' policy. The policy will save people from long queues for property registration, thus promoting transparency to help curb corruption, she added. Chief Minister Arvind Kejriwal has approved the policy and the file has been sent to the Lt Governor for notification. The Delhi government's Revenue Department has decided to introduce the 'Anywhere Registration' policy, according to a statement issued later in the day. According to the policy, people wanting to register their properties can go to any sub-registrar's office in Delhi. Individuals will not be restricted to a specific sub-registrar's office for property registration, it said. Many complaints about the sub-registrar's office often reach Kejriwal, the statement added. One complaint received is that there are long queues in many sub-registrar's offices. Another complaint that is

Sebi to auction 9 properties of Orion Industries, Rakhal Bharoti cos

Capital markets regulator Sebi on Friday said it will auction nine properties belonging to Orion Industries Ltd and Rakhal Bharoti group of companies to recover investors' money raised by these firms. The nine properties to be auctioned include land parcels located in West Bengal and Jharkhand. The total reserve price of these properties is pegged at around Rs 9 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids for the sale of the properties in the recovery proceedings against Orion Industries Ltd and Rakhal Bharoti group of companies, along with their respective promoters and directors, Sebi said the auction will be conducted through online mode on November 20 from 10.30 am to 12.30 pm. Quikr Realty Ltd has been engaged by Sebi to assist it in the e-auction. Of the 9 properties to go under the hammer, seven belong to RB Group of companies, which comprises Rakhal Bharoti Fish and Food Processing Ltd and R B Horticulture and Animal Project Ltd,

InterGlobe Hotels to invest about Rs 550 cr on two new properties by 2025

InterGlobe Hotels will invest around Rs 550 crore to set up two new properties in Mumbai and Bengaluru by 2025, its President and CEO JB Singh said on Thursday. The company -- a 60:40 joint venture between InterGlobe Enterprises Pvt Ltd and Accor Asia Pacific -- opened its new 'ibis Styles' hotel here and plans to open a new property under the 'ibis' brand in Mumbai by the end of next year, followed by the launch of a new hotel under the Novotel brand in Bengaluru early 2025. "This (ibis Styles Vagator) becomes the 23rd ibis (property in India), but as a portfolio, we are at 28 hotels, with this and two to open (which are) under active development. The ibis in Mumbai will open sometime late next year and the Novotel in Bangalore within 2-4 months of that or early 2025," Singh told PTI here. He was responding to a query on the company's expansion plans. When asked about the investments in the two new properties, Singh said, "We will add 207 rooms in Mumbai at an ibis, which will hav

Wadia property may get sold for Rs 5,000 cr in Mumbai's biggest land deal

The 18-acre real estate property in central Mumbai controlled by Nusli Wadia is being sold to Japanese conglomerate Sumitomo in Mumbai's largest land deal by value

Adore Group buys 5.5 acre land in Faridabad for Rs 600 cr housing project

Realty firm Adore Group has bought a 5.5 acre land in Faridabad from the Haryana government for Rs 124 crore to develop a luxury housing project. The company said in a statement on Wednesday that it has "purchased 5.5 acre of land parcel in Sec76 in Faridabad from the Haryana government, following a payment of Rs 124 crore." The company will develop a luxury housing project, comprising 200 units, with an aggregate saleable value of close to Rs 600 crore. The project will be launched in Diwali this year and is slated to be completed in the next four years. "With the new project, we will be primarily focusing on the thriving higher mid-income and premium home buyers & investors in the Faridabad market," said Jetaish Gupta, Founder & Director, Adore Group. He said the demand for housing across all price categories is strong in Faridabad, helped by improvement in infrastructures in the city and better connectivity to Delhi, Noida and Gurugram. Adore was started in 2015 and it has .

Registration of properties in Mumbai set to fall 9-10% annually in July

Registration of properties in Mumbai municipal area is estimated to fall by 9-10 per cent year-on-year in July to more than 10,200 units, according to Knight Frank India. The registration of properties in Mumbai city (area under BMC jurisdiction) has crossed 10,200 units by 7 pm evening on Monday. As many as 11,340 units were registered during July last year. Out of the total registrations, around 82 per cent is housing. The data pertains to both primary (fresh) and secondary (resale) markets. The revenue collection is expected at more than Rs 800 crores for the state government.