Real Estate Act

Indian real estate to grow to $10 trillion market by 2047: Report

Real estate gets institutional investments of over $60 billion in last decade, Colliers-CREDAI report

New home prices in China decline at fastest pace in nearly 10 years

In annual terms, new home prices were down 3.9% from a year earlier, compared with a 3.1% slide in April

Suraksha Group infuses Rs 125 cr in Jaypee Infratech, to begin stalled work

The Suraksha Group has infused Rs 125 crore equity fund in Jaypee Infratech Ltd, which it has acquired through insolvency process, as part of its resolution plan to settle banks' dues and complete around 20,000 unfinished flats in Delhi NCR. Earlier this month, the Mumbai-based Suraksha Group took control of the Jaypee Infratech Ltd (JIL) by constituting a three-member board. The takeover followed the insolvency appellate tribunal NCLAT decision on May 24, upholding Suraksha Group's bid to acquire JIL. The NCLAT had directed Suraksha Group to pay an additional Rs 1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) as farmers' compensation. According to sources, Suraksha Group has infused Rs 125 crore equity fund in JIL. Suraksha Group will soon start the construction process. It will also start making payment to YEIDA as per the schedule, they added. Suraksha Group has informed that May 24, 2024, the date of the NCLAT order, should be treated as the 'Approval

Registration of over 20,000 Maha real estate agents suspended by MahaRERA

Starting January 1, 2024, real estate agents are mandated to go through training, clear the test and register their certificate as stated by the Maharashtra Real Estate Regulatory Authority (MahaRERA)

Shriram Properties inks JV for housing project; eyes over Rs 250 cr revenue

Realty firm Shriram Properties Ltd has partnered with a landowner to develop a 4-acre housing project in Bengaluru with an estimated revenue potential of more than Rs 250 crore. In a regulatory filing on Tuesday, the company informed that it has signed a Joint Development Agreement (JDA) for the development of a prime 4-acre land parcel located at Yelahanka in Bengaluru. "The proposed project will comprise of 270 apartments with an aggregate saleable area of 3.8 lakh square feet. The project has aggregate revenue potential of over Rs 250 crore and is expected to be developed over the next 3 years," Shriram Properties said. The company is targeting to launch of this project during the first half of the current financial year. "This investment is in alignment with our goal of increasing our footprint within the city and also highlights our asset light approach to accelerate growth, Murali Malayappan, Chairman and Managing Director of Shriram Properties, said. This project will ...

Optimism in real estate industry stakeholders highest in 10 years: Report

As many as 82% of the respondents expect residential prices to rise in the near future

Strained Chinese cities unable to raise funds to pay home buying subsidies

The property market accounted for about a quarter of China's economic activity at its peak

Indiabulls Real Estate to raise Rs 3,911 Cr through issuance of shares

Indiabulls Real Estate on Friday said the board has approved raising Rs 3,911 crore through the issuance of shares and warrants to investors, including the Blackstone Group and the Embassy Group. Global investment firm Blackstone will invest Rs 1,235 crore, while the Bengaluru-based Embassy Group will infuse Rs 1,160 crore. After the conversion of the warrants, the Embassy Group will hold 18.7 per cent while Blackstone will hold 12.4 per cent. In a regulatory filing, IBREL has informed that the board has approved "fund-raise via preferential issue of equity shares and convertible warrants, on a private placement basis, for cash consideration, aggregating to approx. Rs 3,910.93 crore". The move is aimed at recapitalising its balance sheet and positioning the company for organic and inorganic growth purposes. These include capital expenditure for the completion of existing projects and new launches as well as proposed acquisitions, other working capital requirements and general ...

Homes priced above Rs 1 cr corner highest share ever in total sales: Report

Those priced below Rs 50 lakh record dip in sales in January-March quarter: Knight Frank

Reits seek changes in regulations to get easier access to capital

They expect the Reit landscape, which is now limited to office space and retail, to expand to hotels, residential properties, data centres, and logistics

Godrej Properties buys 3 acres in Hyderabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd on Thursday said it has bought around 3-acre land in Hyderabad to develop a housing project with an estimated revenue potential of Rs 1,300 crore. Last month, Godrej Properties forayed into the Hyderabad property market by purchasing 12.5-acre land for Rs 350 crore to develop a housing project having Rs 3,500 crore revenue potential. In a regulatory filing, the company said this is the second land acquisition in Hyderabad. The total development potential on this land is around 1.2 million (12 lakh) square feet of saleable area comprising primarily premium residential apartments. The company expects to generate revenue worth Rs 1,300 crore from this upcoming new project. Godrej Properties did not name the seller and also the deal value of this new land acquisition. Godrej Properties said that this strategic acquisition is in line with its strategy of developing high-quality residential projects across India's leading real estate markets. The land

77% of investment in Indian real estate in 2019-23 by foreigners: Report

Global investors have 'consistently infused' average of $4 bn annually in the last five years, it says

US investments in Indian real estate fell 39% to $1.35 bn in 2023: JLL

Investments from American institutions in Indian real estate market declined 39 per cent last year to USD 1.35 billion amid global uncertainties, according to JLL India. During 2022, US-based institutional investors had pumped USD 2.2 billion in Indian real estate. American funds have generally been the biggest investors in Indian real estate market. According to the JLL India report released on Monday, the total institutional investments in Indian real estate rose 14 per cent to USD 5,878 million (USD 5.87 billion) in 2023 from USD 5,151 million in the previous year. The consultant said this reflected India's resilience in the face of global economic headwinds. JLL anticipates investor confidence in the Indian growth story to continue in 2024 as well. In 2023, the largest contributors were foreign institutional investors with 63 per cent share in the total investments. However, the share of inflow from Americas, the conventionally highest contributor in investments, witnessed a

Mindspace Business Park REIT appoints Ramesh Nair as new CEO from September

Mindspace Business Park REIT has appointed Ramesh Nair as its new Chief Executive Officer with effect from September 1. Nair, who has experience of more than two decades in real estate sector, was earlier CEO of real estate consultant Colliers India. Before that, Nair was CEO & Country Head at JLL India where he worked for over 21 years. The Board of Directors of K Raheja Corp Investment Managers Pvt Ltd, manager to Mindspace Business Parks REIT, noted the resignation of Vinod Rohira, the current CEO, with effect from August 31, 2023. It also approved the appointment of Nair as the CEO with effect from September 1, 2023, according to a regulatory filing on Monday. The board approved the appointment of Rohira as the additional (non-executive, nonindependent) director on the board of the Mindspace REIT. Rohira will also have a larger role within the K Raheja group as Managing Director and CEO Commercial Real Estate, K Raheja Corp. He will also be on the board of the residential ..

Signature Global launches second phase of premium projects in Gurugram

The realtor will deliver the remaining 50 per cent of the units to customers in the second phase of the projects

SC upholds Bombay HC order quashing property tax opposed by developers

Real estate developers say they paid exorbitant amounts to municipality as Land Under Construction Tax

How to pay MCD property tax online? A step-by-step guide to the procedure

Property tax is one of the major sources of revenue for local governments/Urban Local Bodies (ULBs)

Residential launches see 61% growth in Q3, says PropTiger report

Despite the slight increase in overall interest rates, the demand for housing has not dipped.

Luxury housing sales double in H1 2022, Mumbai region takes top spot

14% of 184,000 units sold in the top seven Indian cities in the period were luxury homes

City development agencies must register projects with RERA: Delhi chairman

If they do not get registered with us then we have got enough of more power to take action against them under section 59 and 61 of the Act.