Real Estate market News
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In H2 2024, foreign investments accounted for 57 per cent of total inflows, while domestic investments, at $1.3 billion, saw a notable 8 per cent growth.
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Housing prices and rentals in the Delhi-NCR market remained stable during the review period.
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Godrej Properties aims to be among the top three players in each city it operates in, building on its status as the largest listed developer by sales booking in the last two years, says Chairman Pirojsha Godrej.
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Realty major Lodha Developers sold properties worth Rs 2,300 crore during April-June period, its highest quarterly sales, beating demand slowdown in the real estate market, according to a top company official.
Realty firm Godrej Properties' sales bookings dropped by 60 percent last fiscal to Rs 2,020 crore due to sluggish real estate market.
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Housing sales fell by 1-2 percent in the seven major cities during the first half of this year, while supply increased by 10 percent over the preceding six months, according to property consultant CBRE.
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As many as 24,000 residential units were launched in top six metros during April-June period of this fiscal with Bengaluru witnessing the maximum number of launches, a study by Colliers International India said.
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Consumers are preferring to purchase ready-to-move-in homes, which command a price premium of up to 21 percent, than properties under-construction because of huge delays in completion of projects, according to a report.
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Housing sales fell by 4 percent to 2,63,720 units last year, lowest since 2010, in the eight major cities of the country on account of demand slowdown in the real estate market despite interest rate cut by the RBI.
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Besides, the residential market has witnessed a steep decline by 25-30 percent in new launches as well as demand resulting a significant shrinkage.
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Housing sales are expected to rise at a slower pace of 15-20 per cent during the ongoing festival season due to high prices in big cities and subdued sentiments in the property market, according to consultant Jones Lang Lasalle (JLL) India.
Property consultant JLL India has advised home buyers to avoid certain locations, including Noida Extension, in Delhi-NCR real estate market due to delays in projects delivery, oversupply, speculation and lack of infrastructure.
DLF has decided to increase the price of flats in its housing project 'Regal Gardens' by Rs 250 per sq ft to Rs 6,500 per sq ft effective from July 15.
"We plan to raise Rs 150-200 crore funding through private equity and structured financing to meet working capital needs of our ongoing projects," Chandra had said.
The Mumbai Metropolitan Region Development Authority (MMRDA) has put on block TDR on three plots in Goregaon and Jogeshwari.
The rupee depreciation against the US dollar is also helping, for the prospective home buyers from the American continent.
Real estate market, particularly Delhi-NCR, has been facing a huge delay of 6-7 years in project completions, which in turn has affected the buyers' interest also.
Rising US dollar combined with world class infrastructure and high quality of life are strengthening real estate market in Dubai which is competing with other global cities such as Paris and London, according to a report.
The government's decision to relax FDI norms in the construction sector is likely to attract private equity investments to the tune of up to USD 3 billion in the real estate market in the next two years, according to property consultant Jones Lang LaSalle (JLL).
Indians have been ranked first among foreign investors in Dubai's real estate sector, making a total of 4,417 transactions worth nearly USD 3 billion in the first half of the year, according to an official report.
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