Macrotech Developers’ sales bookings up 57% to Rs 3,148 crore in Q2
NEW DELHI: Realty firm Macrotech on Thursday reported a 57 per cent increase in its sales bookings during the July-September quarter to Rs 3,148 crore on strong housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. Its sales bookings stood at […]
Godrej Properties commits $700-900 million investment in last 3 years; remains bullish on growth
NEW DELHI: Realty firm Godrej Properties Ltd has committed investments worth $700-900 million in the last three years and continues to be extremely bullish on the Indian real estate sector, a senior company official said. Addressing a CII-Anarock conference, Godrej Properties Ltd (GPL) MD and CEO Mohit Malhotra said the company is looking to form […]
HSNC University launches MBA in Real Estate
NEW DELHI: HSNC University, Mumbai commences an MBA program for the enthusiast’s learner aspiring to build a career in the Real Estate industry under the fine guidance of Niranjan Hiranandani School of Real Estate (NHSRE). With introduction of this program, the sector will anticipate an usher of candidates that are formally trained with sound knowledge […]
Supreme Court strikes down West Bengal law on regulating real estate, holds it unconstitutional
NEW DELHI: The Supreme Court on Tuesday struck down West Bengal’s law on regulating the real estate sector in the state, and said it was unconstitutional as the statute encroached upon the Centre’s Real Estate (Regulation and Development) Act,. A bench of justices D Y Chandrachud and M R Shah said the West Bengal Housing […]
Finance Bill proposes amendments for enabling FPIs to subscribe to listed debt of REITs
NEW DELHI: The finance ministry on Thursday said the Finance Bill has proposed amendments permitting foreign portfolio investors (FPIs) an entry into debt financing of emerging investment vehicles REITs and InvITs. In the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman proposed to permit FPIs to invest in listed debt securities issued by REITs and […]
NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe
NEW DELHI: The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as “exceptional” and having “compelling circumstances” against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the […]
Budget 2021: NAREDCO recommends measures to support green shoots in real estate
NEW DELHI: In the aftermath of Covid-19 pandemic, Indian economy grapples with the challenges of recovery, expectations from the upcoming Union Budget are high. Real estate sector, as a generator of jobs (14 per cent) and major contributor to the GDP (7 per cent), is optimistic to seek major reforms with timely policy interventions by […]
Master Green Park in Sector 117 will provide boost to real estate
NEW DELHI: Real estate in sectors around Noida sector 117 got a fresh boost when Noida Authority announced that it would develop an 18-acre park with a butterfly design theme. To be ready by next year, the Master Green Park will have a cricket pitch, amphitheatre, cafeteria, parking space, and convenience shops. The residents of […]
ASSOCHAM, MoHUA announce industry’s first realty & sustainability confluence and awards
NEW DELHI: Ministry of Housing and Urban Affairs and ASSOCHAM have announced India’s first Realty and Sustainability Confluence and Awards 2020, to celebrate and recognize the contribution of this sector towards Indian economy. The 7 days long mega platform from 27 November to 3 December 2020 will also focus on some of the key issues […]
Covid-19 impact: PE investment in real estate down 57% in January-September at $2.3 billion
NEW DELHI: Private equity (PE) investment in Indian real estate fell 57 per cent year-on-year to around USD 2.3 billion during January-September this year as investors remained cautious due to COVID-19 pandemic, according to a Knight Frank report. The PE investment in real estate stood at USD 2,308 million during January-September 2020 as against USD […]
Real estate looking up; gaining trust of buyers
NEW DELHI: After realizing the importance of real estate assets, people are going with more vigor for properties in Tier II and Tier III cities. Demand at the moment is strong and buyers should go for projects by trusted developers, says Mr. Prateek Mittal, Executive Director of Sushma Group. What is the situation of queries […]
Housing finance companies to see slower credit growth in FY21: Report
MUMBAI: Housing finance companies are likely to see a slower credit growth of 9-12 per cent in the current financial year as their disbursement may be impacted by the COVID-19 related disruptions, says a report. The gross non-performing assets of mortgage financiers may also increase to 1.8-2 per cent by March 2021, rating agency Icra […]
Keep bank account standard, clear inventories, improve perception: SBI to real estate
NEW DELHI: State Bank of India (SBI) Chairman Rajnish Kumar on Saturday exhorted real estate firms to keep their bank account standard, clear inventory as soon as possible and improve perception about the business. While plain-speaking to the real estate players, Kumar said course correction has to be undertaken by the industry if they want […]
Hopefully,budget 2020 will offer fresh stimulus for real estate
NEW DELHI: The Indian economy has in place the blueprint to evolve into the magic number of $5 trillion; but the upcoming Budget has more pressing and urgent issues which cry out for attention – and remedial action. Real estate and urban infrastructure plays a crucial role in boosting the economy; which calls for an […]
Real estate woes impacting core sectors; working with RBI for solution: Nirmala Sitharaman
NEW DELHI: The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman has said that the real estate sector requires a lot more attention and its prevailing sluggishness needs to be addressed. She informed: “Alternative funds are approaching us saying they would like to work with us, so long as a support mechanism is available […]
Environmental clearance to real estate will soon be reduced to 60 days: Prakash Javadekar
NEW DELHI: Speaking at the 15th National Convention of NAREDCO, Union Minister of Environment and Forests Prakash Javedekar said that his ministry intends to reduce the whole process of environmental clearance to a real estate project to 60 days in a few days to come. He added that the environmental clearances used to be stumbling […]