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Real Estate

Metro brands promoters Alisha, Zia Malik buy Worli flats for Rs 81 cr each

Alisha Rafiq Malik and Zia Malik Lalji, co-promoters of Metro Brands, have invested in Mumbai's luxury real estate by purchasing two apartments in the Palace Royal complex in Worli for Rs 81 cr each

Metro brands promoters Alisha, Zia Malik buy Worli flats for Rs 81 cr each
Updated On : 23 Dec 2024 | 4:08 PM IST

TVS Emerald buys land in Chennai for Rs 2,800 crore real estate project

TVS Emerald has bought a 12-acre land to develop a real estate projects worth about Rs 2,800 crore. The company did not disclose the cost of the acquisition of the land, which is located on Radial Road (PTR) in Chennai. The land will have a development potential of 2.5 million square feet and a revenue potential of Rs 2,800 crore, the company said in a statement. This marks the third acquisition of land by TVS Emerald in the current fiscal. Earlier, the company acquired a 4-acre land parcel in Padur, Chennai and a 4-acre parcel in Thanisandra, Bengaluru. Sriram Iyer, Director & CEO, TVS Emerald, said, "This landmark acquisition, reinforces our commitment to strategic growth and market leadership in Chennai and Bengaluru." By securing this land on the premium Radial Road corridor, he said, the company is expanding footprint and creating substantial value for its stakeholders. "This move aligns perfectly with our vision of developing world-class properties in high-potential ...

TVS Emerald buys land in Chennai for Rs 2,800 crore real estate project
Updated On : 23 Dec 2024 | 12:56 PM IST

Consumer protection: Buyer entitled to market value if flat is resold

The National Commission condemned the builder for creating third-party rights during litigation, thereby depriving the buyer of a permanent roof over his head

Consumer protection: Buyer entitled to market value if flat is resold
Updated On : 23 Dec 2024 | 1:12 AM IST

Delhi-NCR housing market remains buoyant; sales up 25%: PropEquity

India's key property market Delhi-NCR has remained buoyant during the December quarter, with housing sales and new supply estimated to rise 25 per cent and 59 per cent, respectively, according to PropEquity. Real estate data analytic firm PropEquity data shows that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this calendar year from 10,354 units in the year-ago period. New supply in Delhi-NCR is set to increase 59 per cent to 11,223 units in the current December quarter from 7,072 units in the corresponding period of the previous year. Among nine major cities across India, Delhi-NCR is the only market where sales and new supply are estimated to rise during the current quarter, real estate data analytics firm PropEquity's data showed. The other eight markets -- Bengaluru, Pune, Hyderabad, Chennai, Kolkata, Mumbai, Navi Mumbai and Thane -- are likely to witness a fall in sales and new supply during this quarter. As per the ...

Delhi-NCR housing market remains buoyant; sales up 25%: PropEquity
Updated On : 22 Dec 2024 | 3:17 PM IST

Q3 housing sales fall 21% in top 9 cities, demand up 25% in NCR: PropEquity

Housing sales are estimated to fall 21 per cent annually across nine major cities during October-December period to 1.08 lakh units on high base effect, according to PropEquity. Real estate data analytics firm PropEquity on Saturday released the sale numbers for India's top nine housing markets -- Delhi-NCR , Mumbai, Navi Mumbai, Kolkata, Bengaluru, Pune, Hyderabad, Chennai, Thane. It has estimated sales to rise only in Delhi-NCR. As per the data, the total sales of residential properties across the nine cities are likely to decline to 1,08,261 units in the current quarter as against 1,37,225 units in the same period last year. However, sales are likely to rise 5 per cent from 1,03,213 units in the preceding September quarter. Samir Jasuja, CEO & Founder of PropEquity, said the sales have declined on annual basis because of high base effect. He said the sales are likely to rise quarter-on-quarter on the back of festive demand. "A closer look at the numbers reveals that despite th

Q3 housing sales fall 21% in top 9 cities, demand up 25% in NCR: PropEquity
Updated On : 21 Dec 2024 | 3:57 PM IST

Motilal Oswal initiates coverage on Anant Raj with 'Buy'; share hits record

The rise in Anant Raj share price came after domestic brokerage Motilal Oswal Financial Services (MOFSL) initiated coverage with 'Buy' for a target price of Rs 1,100, reflecting an upside of 31%

Motilal Oswal initiates coverage on Anant Raj with 'Buy'; share hits record
Updated On : 20 Dec 2024 | 11:13 AM IST

TV host Manish Paul leases Rs 2.25 cr Andheri property for Rs 2 lakh/month

The office space was originally purchased in September 2023 for Rs 2.25 crore.

TV host Manish Paul leases Rs 2.25 cr Andheri property for Rs 2 lakh/month
Updated On : 19 Dec 2024 | 1:44 PM IST

Private investment in Indian real estate up 32% to $4.15 bn: Knight Frank

Indian real estate attracted USD 4.15 billion of private equity (PE) investments this calendar year, up 32 per cent annually, led by higher inflow in the housing segment, according to Knight Frank India. Real estate consultant Knight Frank India on Thursday released a report 'Trends in Private Equity Investment in India 2024'. The consultant reported that the private equity investment in Indian real estate reached USD 4,153 million in the calendar year 2024. The warehousing sector led the way, accounting for 45 per cent of total investments, followed by the residential sector at 28 per cent and the office sector at 26 per cent. During 2024, PE investments more than doubled in the residential sector to USD 1,177 million, demonstrating investor confidence in this segment which has been noting a consistent rise in end-user demand. Warehousing assets received USD 1,877 million while the office properties 1,098 million during the current calendar year. Shishir Baijal, Chairman & ...

Private investment in Indian real estate up 32% to $4.15 bn: Knight Frank
Updated On : 19 Dec 2024 | 12:49 PM IST

Private investment in Indian real estate up 32% to $4.15 bn: Knight Frank

Indian real estate attracted USD 4.15 billion of private equity (PE) investments this calendar year, up 32 per cent annually, led by higher inflow in the housing segment, according to Knight Frank India. Real estate consultant Knight Frank India on Thursday released a report 'Trends in Private Equity Investment in India 2024'. The consultant reported that the private equity investment in Indian real estate reached USD 4,153 million in the calendar year 2024. The warehousing sector led the way, accounting for 45 per cent of total investments, followed by the residential sector at 28 per cent and the office sector at 26 per cent. During 2024, PE investments more than doubled in the residential sector to USD 1,177 million, demonstrating investor confidence in this segment which has been noting a consistent rise in end-user demand. Warehousing assets received USD 1,877 million while the office properties 1,098 million during the current calendar year. Shishir Baijal, Chairman & ...

Private investment in Indian real estate up 32% to $4.15 bn: Knight Frank
Updated On : 19 Dec 2024 | 12:49 PM IST

Real estate attracts $8.87 bn institutional investments in 2024: Report

Institutional investment in Indian real estate rose 51 per cent to a record USD 8.87 billion during 2024 as investors look to encash strong demand for housing, office and warehousing properties, according to JLL. In its report released on Wednesday, real estate consultant JLL India has estimated the institutional investment in Indian real estate at USD 8.878 billion in 2024 compared to USD 5.878 billion in the preceding calendar year. Foreign institutional investors accounted for 63 per cent of the total institutional investments in Indian real estate. Among different asset classes, the residential segment attracted 45 per cent of inflows followed by office buildings 28 per cent and warehousing properties 23 per cent. "The year 2024 marks a milestone for India's real estate sector, with institutional investments hitting USD 8.9 billion across 78 deals. This figure stands as the highest on record, eclipsing the 2007 peak of USD 8.4 billion," the consultant said. The deal activity .

Real estate attracts $8.87 bn institutional investments in 2024: Report
Updated On : 18 Dec 2024 | 2:02 PM IST

Indian REITs Association appoints Alok Aggarwal to drive sector growth

The Indian REITs Association (IRA) has appointed Alok Aggarwal, MD and CEO of Brookfield India Real Estate Trust, as its new Chairman. Established in 2023, the IRA is a non-profit trade organisation that supports the growth and development of India's Real Estate Investment Trust (REIT) sector. Its founding members include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. "Aggarwal's extensive experience in the real estate sector, especially REITs, and proven leadership will help IRA immensely. Under his guidance, we aim to work closely with SEBI to support industry growth, protect investor interests, and uphold high regulatory standards," the Association said in a statement. Commenting on his new role, Aggarwal said the role of chairman has come at a time when REITs have established a strong foothold in the Indian capital market and are poised for significant growth. "I look forward to collaborating with industry

Indian REITs Association appoints Alok Aggarwal to drive sector growth
Updated On : 18 Dec 2024 | 12:33 PM IST

Housing in tier-II cities: Assess job prospects, infra before investing

Tier 2 cities are emerging as attractive real estate destinations due to expanding employment opportunities

Housing in tier-II cities: Assess job prospects, infra before investing
Updated On : 17 Dec 2024 | 11:44 PM IST

Oberoi Realty: On strong growth foundation with domination in luxury market

The retail segment continues to perform well and the hospitality segment remains buoyant, with travel momentum being sustained

Oberoi Realty: On strong growth foundation with domination in luxury market
Updated On : 17 Dec 2024 | 11:27 PM IST

NCLAT refuses to limit insolvency process of Spaze Towers to one project

Appellate tribunal NCLAT on Tuesday dismissed the plea filed by the former promoters of realty firm Spaze Towers to confine the Corporate Insolvency Resolution Process to only one project -- Spaze Arrow. The National Company Law Tribunal (NCLT), on October 21, 2024, directed the initiation of insolvency proceedings against Spaze Towers, admitting a plea filed by its flat owners. Appealing against the order, the former management approached the National Company Law Appellate Tribunal (NCLAT), requesting to confine the CIRP process to only one project. However, the appellate tribunal rejected it, saying, "When the claimants have filed claims for the Project Corporate Park, which is not complete despite the Occupancy Certificate and Completion Certificate, by confining the CIRP to only one Project shall be tantamount to excluding the claims filed before the RP from different Project". "We, thus, after considering the facts and circumstances, which have been brought on the record by th

NCLAT refuses to limit insolvency process of Spaze Towers to one project
Updated On : 17 Dec 2024 | 11:07 PM IST

Developers plan record 253 mn sq ft housing supply amid robust demand

Notably, only 23 per cent of the planned supply (about 57.15 million square feet) was launched in the first half of FY2025

Developers plan record 253 mn sq ft housing supply amid robust demand
Updated On : 17 Dec 2024 | 9:15 PM IST

Buying a home? Mumbai to reach close to optimal affordability level in 2025

The interplay between property price, income and home loan interest rates influences the ability of a household to afford a home purchase.

Buying a home? Mumbai to reach close to optimal affordability level in 2025
Updated On : 17 Dec 2024 | 2:17 PM IST

Embassy REIT raises Rs 1,000 cr through debentures to repay existing loans

Embassy Office Parks REIT has raised Rs 1,000 crore through issue of Non-convertible Debentures (NCDs) to repay its outstanding loan. In a regulatory filing on Tuesday, Embassy REIT said it has raised Rs 1,000 crore through five-year coupon-bearing debt at an interest rate of 7.73 per cent. Embassy REIT will utilise the proceeds from this debt raise to repay its certain existing debt. Through this refinance, Embassy REIT will be able to secure around 70 basis points of interest savings from the existing rate. Ritwik Bhattacharjee, Interim Chief Executive Officer, Embassy REIT, said, the company has raised this amount at a highly competitive rate. "Raising a 5-year NCD allows us to optimally stagger our liability profile and ensure we continue to finance our growth and the rollover of debt maturities prudently," he said. Embassy REIT is India's first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 51.1 million square feet portfolio of 14 office park

Embassy REIT raises Rs 1,000 cr through debentures to repay existing loans
Updated On : 17 Dec 2024 | 12:40 PM IST

Lenders Berkshire Hills Bancorp, Brookline to merge in $1.1 bn deal

Both Berkshire and Brookline are headquartered in Boston, Massachusetts and each hold around $12 billion in assets. The deal is set to create a $24 billion bank with a geographic footprint across five

Lenders Berkshire Hills Bancorp, Brookline to merge in $1.1 bn deal
Updated On : 16 Dec 2024 | 8:59 PM IST