02 Oct 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) reported a substantial revenue of INR 982.51 crore in the first half of FY25, showing an increase of over INR 200 crore compared to the same period last year. However, expenses outstripped earnings, totalling INR 1,301 crore. A large portion of the expenditure went into land acquisition, more than doubling last year's figures. The rise in revenue, particularly from group housing projects, alongside increased airport and development spending, reflects YEIDA's focus on future infrastructure growth, despite rising costs.Read more

01 Oct 2024

The Indian real estate market is poised to grow exponentially over the next 25 years, potentially reaching USD 10 trillion and accounting for 14-20% of the country's GDP. This growth will be driven by six key levers: urbanisation, infrastructure, digitalisation, demographics, sustainability, and investment diversification. Real estate will expand beyond major cities into tier 2/3 markets, with increased consolidation and institutionalisation. Alternate asset classes like data centres and senior living will see rapid development. Digitalisation through PropTech and the metaverse will improve transparency and efficiency. Sustainability will be a top priority, with green certifications becoming ubiquitous. Overall, India's real estate sector is set to be transformed into a USD10 trillion powerhouse.Read more

01 Oct 2024

Mt K Kapital has raised over INR 500 crore for its maiden real estate fund, targeting projects in the Mumbai Metropolitan Region (MMR). The fund focuses on quick turnaround residential developments with low equity investments, aiming for an internal rate of returns (IRRs) exceeding 25%. In collaboration with Keystone Realtors, it plans to invest in 10 to 12 redevelopment projects. The firm's founder, Binitha Dalal, highlights their commitment to channeling capital effectively in the real estate sector, backed by a SEBI-approved Category II Alternative Investment Fund license.Read more

01 Oct 2024

HomeLane has acquired DesignCafe in a share-swap deal valued at INR 3,000 crore, aiming to enhance growth and profitability. Following the merger, the combined entity reports an annual recurring revenue of INR 900 crore and plans to maintain independent brand identities while targeting distinct market segments. With a significant investment from new and existing investors, including Hero Enterprise, HomeLane is preparing for an IPO within the next 9 to 15 months. The merger is seen as a strategic move to fill gaps in each company's offerings and foster innovation in the growing real estate market.Read more

01 Oct 2024

GR Infra projects has partnered with Standard Chartered Bank to raise INR 1,670 crore (approximately USD 200 million) for greenfield power transmission projects. Traditionally focused on roads, the company is diversifying as India targets 500 GW of renewable energy by 2090. With a market cap of INR 16,147 crore, GR Infra projects have seen its stock rise by 33% in the past year. Recent acquisitions include Tumkur-II REZ Power Transmission Ltd., aimed at enhancing Karnataka's renewable energy capacity.Read more

30 Sep 2024

The Mumbai Income Tax Appellate Tribunal (ITAT) has sent a case back to the Income Tax (I-T) authorities for further investigation regarding a tax deduction claimed by P. Shah. Shah invested INR 9.5 crore from a share sale into two adjacent apartments in Navi Mumbai, claiming a tax exemption under Section 54-F, which allows for tax-free long-term capital gains if invested in a single residential unit. The I-T department rejected his claim, arguing the two apartments are separate properties, but Shah argued they should be considered one unit. The ITAT directed physical verification to confirm if the apartments were merged into one.Read more

30 Sep 2024

The residential rental market in Mumbai's western suburbs is booming, driven by strong demand and limited quality housing. Key areas like Andheri, Goregaon, Malad, and Borivali have seen rental prices surge, with premium gated societies experiencing a cooling growth rate of 5-9% in 2024, after a 50-60% spike from 2021 to 2023. Factors such as increased professional migration and enhanced infrastructure are reshaping the rental landscape, creating opportunities for developers and investors alike.Read more

30 Sep 2024

Knight Frank India's latest report reveals that Pune registered 13,397 property sales in September 2024, marking a 3% year-on-year increase. Stamp duty collections soared by 40%, reaching INR 592 crores. The residential sector in Pune continues its robust growth, with 127,108 properties registered in the first eight months of 2024, reflecting a 40% rise compared to 2023. Demand for mid-range and luxury homes, particularly in the INR 50 lakh to INR 1 crore segment, has driven this growth. Pune's real estate market remains strong, supported by rising incomes, positive buyer sentiment, and ongoing infrastructure developments.Read more

27 Sep 2024

Haryana's Department of Town and Country Planning (DTCP) has increased floor-area-ratio (FAR) rates for large plots by around 20%, the first hike since 2016. Plots between 250-350 sqm will now have an FAR rate of INR4,500/sqm (up 19%), while plots between 350-450 sqm will pay INR6,500/sqm (up 21%). For plots larger than 500sqm, the rate jumps 24% to INR10,000/sqm. The hike aims to address rising land demand in cities like Gurgaon, with revenues supporting municipal development. Developers warn the increase could raise construction costs, potentially slowing large projects and pushing prices onto homebuyers.Read more

27 Sep 2024

Nisus Finance Group manages two alternate investment funds, RECOF-I and RESO-1, with a total corpus of INR 12 billion. The firm has made significant investments across multiple deals and is in the process of exiting the RECOF-I fund while expanding its SME lending through its NBFC, Nisus Fincorp Pvt. Ltd. With plans to go public, the company has submitted a Draft Red Herring Prospectus (DRHP) and aims to enhance its fund management infrastructure in key financial hubs. By covering placement fees and raising additional capital, Nisus is set to strengthen its market position and pursue new opportunities.Read more