23 Oct 2024

In the first half of 2024, private equity (PE) investments in the Indian real estate sector dropped 4% to USD 2.3 billion, mainly due to reduced investments in office properties. Global factors like high interest rates and political tensions impacted foreign investments, affecting overall PE activity. However, investments remained stable due to a major warehousing deal involving Reliance, ADIA, and KKR, which made up 67% of total investments. Industrial and logistics assets attracted 67% of all investments, significantly surpassing office and residential sectors at 17% each, while foreign investors accounted for 87% of the total investments.Read more

22 Oct 2024

The upcoming festive season is expected to see over INR 1 lakh crore worth of residential project launches in Delhi-NCR, as developers like DLF, Signature Global, and Max Estates introduce large-scale luxury housing. Despite a recent 11% decline in sales, demand is poised to rise, with new projects targeting HNIs, UHNIs, and NRIs. DLF's upcoming project, The Dahlias, with a projected sales value of INR 34,000 crore, is set to rival some of India's most prestigious developments. Gurugram's Golf Course Extension Road and Dwarka Expressway are emerging as prime locations, promising significant activity in the luxury housing market.Read more

22 Oct 2024

The Gujarat government plans to revise jantri rates for property transactions but will first release proposed rates for public feedback to avoid past controversies. In 2023, a sudden doubling of jantri rates caused significant unrest in the real estate sector. This time, the government aims for a smoother process by allowing stakeholders to share suggestions and objections. Using a scientific approach, they have analysed past transaction rates to align jantri values with current market conditions. Real estate developers are optimistic about the changes, expecting the new rates to address previous anomalies and be more reflective of market prices.Read more

22 Oct 2024

KBC Global Ltd has announced plans to raise up to INR 100 crore through an equity share issue, with funds allocated for debt repayment. The company has fulfilled its obligations to Capri Global Capital Ltd, reducing its outstanding balance to INR 13.50 crore. Additionally, a subsidiary has signed an MoU with the Liberia Special Economic Zone Authority for a USD 12.5 million development project and is launching a new project in Deolali, Nashik.Read more

22 Oct 2024

During the nine-day Navratri festival, Mumbai's property market experienced a significant uptick, with 5,199 registrations, reflecting a 13.2% year-on-year increase. This surge generated Rs 502 crore in revenue, a notable rise from last year. Industry leaders attribute this growth to buyer confidence, strategic investments, and favourable economic conditions, suggesting continued positive momentum in the real estate sector.Read more

21 Oct 2024

India's real estate equity investments have experienced a significant 46% year-over-year surge, reaching USD 8.9 billion from January to September 2024 and exceeding the USD 7.4 billion total investments recorded in 2023. Domestic investors, predominantly developers, led the way with a 79% share in equity capital inflows during Q2 FY25. Singapore-based investors were the dominant foreign capital source, contributing nearly 73% of the total foreign capital inflows. The major investment hubs were Mumbai, Bengaluru, and Chennai, collectively accounting for over 66% of the total investments. The surge in India's real estate equity investments is driven by factors such as the rebound in the office leasing market, strong disposable incomes, and an unprecedented risk appetite for consumer spending and home buying.Read more

21 Oct 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) launched its e-khata system to streamline property record management, but its pilot in the East zone saw slow uptake. Since 2022, only 8.6% of the 3.5 lakh property owners have adopted the system. The initiative aims to reduce fraud and improve transparency, but awareness and documentation challenges, such as GPS and KYC submissions, have hindered progress. Despite extensive promotion, many property owners have yet to link their GPS data. To ensure success, BBMP needs to address these issues, as the system promises to simplify property transactions and increase accountability.Read more

21 Oct 2024

InCorp Global has made history by becoming the first company at GIFT IFSC to secure a BATF (Bookkeeping, Accounting, Taxation, and Financial Crime Compliance) licence. This authorisation allows the firm to provide essential financial services beyond the BFSI sector. The licence enhances GIFT City's potential as a global hub for financial services and aligns with international compliance standards, facilitating a vibrant financial ecosystem.Read more

21 Oct 2024

India's top 10 cities have witnessed a significant 88% surge in average property prices for newly launched projects over the past five years, with Gurugram leading the rise, according to PropEquity. Prices in Gurugram soared from INR 7,500 to INR 19,500 per square foot (160% growth), while Mumbai saw the lowest increase at 37%, despite remaining the most expensive at INR 35,500 per square foot. Factors driving this increase include infrastructure upgrades, interest from NRIs, HNIs, UHNIs, and a growing preference for luxury homes. The trend highlights evolving aspirations and demand for upscale properties across India's urban centres.Read more

18 Oct 2024

In a significant policy shift, the Uttar Pradesh estate department has introduced stringent penalties for property owners who delay their dues, imposing a staggering 9.15% annual interest rate on overdue payments exceeding four months. This move aims to enforce timely payments among occupants in the state's 52 government colonies, including notable areas in Lucknow. While officials acknowledge maintenance issues like irregular water supply and seepage in Dalibagh Colony, they emphasise that prompt payment is essential. An online payment system has been in place to streamline processes and mitigate ongoing challenges in property management.Read more