Best July in 10 years for home sales

Submitted by isha on Mon, 08/08/2022 - 04:36

Mumbai: The month of July 2022, turned out to be a boon for the city’s real estate market as it saw a whopping sale of 11,340 units, generating revenue of ₹828.63 crore for the state. This number is the highest ever property sale in any of the July months since 2012.

A detailed analysis of the sales figure from the department of Inspector General of Registration (IGR) shows that July 2022 has performed exceptionally well, and of all the months, this financial year has also earned the highest revenue for the state government too.

Mumbai’s real estate sector registers its best July in a decade even as home loan interest rates rise

Submitted by isha on Tue, 08/02/2022 - 06:06

Mumbai’s real estate sector registered its best July in a decade, despite the rise in interest rates, and this could benefit listed real estate companies like Godrej Properties, Oberoi Realty and others.

According to a report by Edelweiss Securities, Mumbai’s real estate sector reported a 15% year-on-year growth and 14% sequentially with 11,340 new registrations in July alone. This is in spite of banks and housing finance companies raising interest rates on home loans by 0.9% since May this year.

RERA Efficacy in India

Submitted by isha on Mon, 08/01/2022 - 12:27

From cracking down on misrepresentation and false promises to implementing penal provisions for consumer redressals, RERA, the Real Estate Regulatory Authority established under the Real Estate (Regulation & Development Act), 2016, has undoubtedly brought a paradigm shift in functioning of the real estate sector. It has made the real estate sector, particularly the residential segment more organized, transparent, secure and fair by creating an umbrella authority for safeguarding homebuyer interests.

From Mumbai's Malabar Hill to Lutyens Delhi, a look at India's most expensive neighbourhoods

Submitted by isha on Mon, 07/25/2022 - 04:51

No discussion on upmarket real estate is complete without the mention of what have by now become familiar residential locations across the country. That’s why even though you may not visit Chennai or Hyderabad often enough, names like ‘Boat Club’ or ‘Jubilee Hills’ are probably etched into your subconscious owing to the inherent status and brand value that comes with owning a home with these address lines. “The concept of luxury is primarily defined by four parameters — location, space, accessibility and amenities,” says Siva Krishnan, Head (Residential), JLL India.

Realty sector thriving in Hyderabad

Submitted by isha on Thu, 07/21/2022 - 09:09

City’s residential market sees an increase of 171% as compared to other top 7 cities

Among all sectors, real estate is one that acts as the prime indicator of the faith that a larger section of the populace has in a city. Not just families, a major chunk of which happens to be middle class, who put their hard-earned money into creating a nest for themselves, the business of property acquisition inherently is also reflective of the confidence that investors, builders, bankers, raw material suppliers and a host of other ancillary segments, impose in the given city.

Domestic housing sector projected to accelerate in five years: PNB HFC

Submitted by isha on Tue, 07/05/2022 - 05:24

Owing to sectoral changes like RERA and GST, the domestic housing market is anticipated to expand during the next five years.

After a period of stagnation, the domestic housing market is expected to expand over the next five years. Thanks to sectoral reforms like RERA and GST, which have increased predictability, housing finance companies are well positioned to take advantage of this potential, according to PNB Housing Finance's annual report for 2021–22.

Bengaluru real estate co to build mega residential hub in Chennai, eyes Rs 6,000 crore revenue in 5 years

Submitted by isha on Fri, 07/01/2022 - 07:17

Bengaluru-based realty firm Brigade Enterprises Ltd on June 27 said it has signed a joint development agreement to develop around 2.1 million square feet of residential apartments in Chennai.

The company is targeting a revenue of about Rs 6,000 crore over the next five years from its Chennai residential business, alone.

Rich Indians living luxuriously in homes away from home

Submitted by isha on Mon, 06/27/2022 - 05:24

From Candolim and Assagao in Goa to Medhufaru and Kunfunadhoo islands in the Maldives to Marina beach in Dubai, uber rich Indians are buying luxury villas and houses in locations considered safe or offering better taxation rates and business opportunities.

Indian business families, startup founders and CXOs are investing in luxury properties within the country and abroad in places where geopolitical risks are low, a trend that picked up last year post Covid-19 outbreak, luxury real estate development and brokerage firms told ET.

MahaRERA to have dedicated vertical for 4,500 stalled real estate projects in Maharashtra

Submitted by isha on Thu, 06/23/2022 - 05:07

Maharashtra Real Estate Regulatory Authority (MahaRERA) on June 22 launched a vertical dedicated to stalled projects or those projects whose registration had lapsed in the state, said Ajoy Mehta, its chairman.

Mehta said the vertical has been made operational and that a separate team will be looking after the stalled projects.

He was speaking at a panel discussion on stalled projects, organised by Maharashtra Chamber of Housing Industry (MCHI) and Confederation of Real Estate Developers' Associations of India (CREDAI).

Mumbai real estate: The perfect storm is around the corner

Submitted by isha on Tue, 06/21/2022 - 03:54

The stage is set. The lights are getting ready. The camera is on its way. And action is about to be announced. It is now certain that 2022-23 is going to be a difficult year for Mumbai’s real estate industry. Interest rates are on their way up, the state government has recklessly added a tax of 1 percent on house purchase, stock markets have fallen sharply hurting demand and sentiment, and upcoming supply is at outrageous levels in prime micro-markets.