Prestige Estates Projects, which operates some of India’s top malls such as Bangalore’s Forum Mall, said retail spending has recovered to around 70-80% of normal levels, though it may take several months for it to fully normalize. “The malls should be back in the next six months, they should stabilize fully. Hospitality should take a […]
Larsen & Toubro, India’s biggest construction firm, said it has got an encouraging response to the launch of its second phase of its Seawoods Residences project in Navi Mumbai. The first phase of the semi-premium housing project, launched early last year, saw decent levels of interest, with reports claiming that the company got 1,800 bookings […]
Godrej Properties, arguably the healthiest and fastest growing of the major Indian real estate companies, today said it has agree to purchase a 20 acre project in Kalyan near Mumbai for a residential project. “This project will offer approximately 139,000 square meters (1.5 million square feet) of saleable area comprising primarily of residential apartments of […]
Prestige Estates Projects Ltd, which operates nine malls including The Forum Mall in Bangalore, said footfalls are down 75%-80% at malls due to the COVID-19 pandemic. Speaking to investors after detailing the company’s June quarter results last week, company officials also said they were seeing signs of stress among customers of residential properties, even though […]
D-Mart, India’s most famous deep discount retail chain, said it is working on expanding its footprint beyond its current footprint of 214 locations, but the ongoing COVID-19 will impact the number of new stores that will be opened this year. The company, which started with just two stores in Mumbai in 2002-03, expanded to 214 […]
Godrej Properties, the fastest growing of India’s real estate majors, saw a surge of NRI (non-resident Indian) customers as well as a huge pick-up online sales during the COVID-19 lock-down. Despite a harsh lock-down in place in India during most of the Apr-Jun quarter, the company managed to sell a whopping 2,130 homes during the […]
In one of the biggest real estate deals post the lock-down India’s leading luxury developer, Sunteck Realty acquired a 50-acre property in the North Mumbai suburb of Vasai West. The company did not disclose the cost of the acquisition, but given the location and the size of the property, the deal is likely to be […]
Godrej Properties said it will develop a 3-acre plot in Chandivali, near Powai, Mumbai. The plot was reportedly acquired for Rs 153 from DIC India, one of the oldest ink manufacturers in India, though Godrej did not confirm the name of the seller. “This project will offer 41,800 square meters (0.45 million square feet) of […]
Even as many realty developers struggle to move their stock, Sunteck Realty Ltd has sold over 1,600 apartments at its MaxXWorld township in Naigaon in just two weeks. The MaxXWorld project, which offers homes with 1 to 3 bedrooms, are priced in the range of Rs 30 lakhs to 55 lakhs. The average price of […]
Real estate developer Godrej Properties has opened booking for its first flats in RK Studio, the 2.2-acre film studio established over six decades ago by legendary actor Raj Kapoorj. The Vikhroli, Mumbai-based developer had purchased the studio property for an undisclosed amount in May this year and announced plans to put up 3.5 lakh square […]
PNB Housing, the housing finance company in which the US-based Carlyle Group and Punjab National Bank own around 32% each, has clarified that its total exposure to real estate firm Omaxe Ltd was less than Rs 635 cr. The clarification came on the heels of social media reports that Omaxe Ltd was in some sort […]
Brigade Group, one of India’s leading Real Estate Developers, has tied up with Swedish furniture maker IKEA to offer pre-furnished homes in India. “Brigade has set up multiple model apartments showcasing IKEA furnishing options in the home-front including Living/Dining rooms, bedrooms including children’s rooms, kitchens, and bathrooms. “Potential buyers or existing customers can visit these […]
Even as the real estate market in the country faces uncertainties due to an overall slowdown in the economy, housing sales fell 17% in the top 7 cities of India in value terms during the Jul-Sep quarter, according to Anarock Consultants. Of the three quarters of 2019, Q3 saw the worst overall sales performance. The […]
The size of apartments on sale in India are shrinking like never before, mostly due to a new affordable housing subsidy scheme announced by the government in early 2017. Under this credit subvention scheme, the government will today pay up to Rs 3.5 lakhs to banks on behalf of anyone who takes a home loan […]
The demolition of five illegal high-rise apartment buildings in Kochi has snowballed into a major controversy, with some of the state’s prominent politicians who openly supported the illegal buildings now coming under fire from social media and even their own colleagues. The initial response of the political community in the state was one of support […]
The prices of residential real estate continues to remain unaffordable and are leading to a ‘wait-and-watch’ approach among consumers, real estate consultant Anarock Properties said, quoting its sentiment survey for the first half of the year. While the real estate sector has been facing a slow down owing to demand-related problems for the last four […]
Anuj Puri, chairman of Anarock Property Consultants, today called on the Reserve Bank of India to go for a cut of at least half a percentage point in the overnight interest rate to ensure that the real estate sector is revived. The call comes in the wake of a global slowdown in consumption and investment, […]
Indian real estate developers can heave a sigh of relief: The latest quarterly update on the market shows that unsold inventory has fallen to their lowest level in several years. While this is not simply a reflection of increasing sales — developers started going slow on new launches in 2016 — it does indicate that […]
Brigade, a Bangalore-based real estate developer, announced plans to build its eighth integrated residential enclave near Aerospace Park near the Bangalore International Airport. It will be an affordably priced 50-acre project comprising 2 and 3 bedroom units. Each flat in the project will cost less Rs 45 lakhs, excluding government levies and maintenance charges, said […]
International private equity investors do not shy away from investing in malls in India’s tier-2 cities such as Amritsar, Ahmedabad, Bhubaneshwar, Chandigarh, Indore and Mohali, according to a study by Anarock Property Consultants. Real estate can be broadly divided into residential and commercial. Commercial is further divided into retail (malls) and office space. A total […]
