06 May 2024

RISE Infraventures Ltd achieved a record gross sales of INR 2620 crores in the past financial year, marking a significant increase of about 110% from the previous year. With the recent boom in premium and luxury housing, the company aims to reach a target of INR 4000 crores in FY 24-25. With expansion plans, including new offices in Mumbai and the launch of RISE Homes, the company aims to strengthen its leadership position in the luxury market segment. RISE Infraventures aims to achieve its financial goals of INR 5000 crores in 2024-25, INR 6250 crores in 2025-26, and INR 7500 crores in 2026-27 by focusing on attractive pricing, enhanced service quality, and expansion into new markets.Read more

03 May 2024

HDFC Capital, a subsidiary of HDFC Bank, has announced a substantial INR 1,150 crore investment in Provident Housing, a developer specializing in mid-income and affordable homes. This investment will fund the development of an additional 6.2 million square feet of residential projects, expanding Provident Housing's ongoing portfolio to 14.8 million square feet. With construction set to begin soon, these projects, valued at INR 17,100 crore, aim to address the growing demand for accessible housing solutions across India. The collaboration underscores HDFC Capital's commitment to affordable housing and Provident Housing's focus on innovation and sustainability in real estate development, setting a positive example for the industry.Read more

03 May 2024

In Q1 2024, Mumbai's residential property market witnessed a remarkable surge, with over 60,719 transactions valued at INR 54,239 crore. Thane West emerged as the leader, recording over 5,000 transactions worth INR 4,948 crore, attributed to its diverse property offerings and enhanced infrastructure. Other micro-markets like Dombivali East, Mira Road, Virar West, and Kandivali West also saw significant activity. The trend towards affordable housing was evident, with properties below INR 50 lakh dominating sales. Compact apartments ranging from 0-500 sq. ft. were most sought after. Macrotech Developers (Lodha) led in volume and sales value, signaling a positive resurgence in Mumbai's real estate market with a focus on affordability and improved infrastructure.Read more

03 May 2024

The Rental Yield Plus (RYP) Fund, managed by Edelweiss Alternatives, has acquired MMTP Projects (MMTP PPL) for over INR 1,500 crore, expanding its presence in Bengaluru's tech hub. MMTP PPL owns 1.1 million square feet in Manyata Tech Park, expanding RYP's Bengaluru portfolio to 1.8 million square feet. Subahoo Chordia highlighted the growing investor interest in Grade A office spaces, predicting India's Grade A/A+ office stock to surpass 1 billion square feet, valued at USD 84 billion. With assets exceeding INR 2,500 crore, RYP solidifies its position in commercial real estate. The acquisition signals optimism for Bengaluru's commercial real estate, offering opportunities for investors and businesses alike, with potential benefits including competitive lease terms and access to amenities in prime locations.Read more

03 May 2024

A recent report by Anarock showed a significant increase in rental housing demand across major Indian cities over the past year. This has led to steady growth in both average rental values and rental yields. Bengaluru topped the list with a rental yield of 4.45% in Q1 2024, followed by Mumbai and Gurugram. Yields in Bengaluru, Mumbai and Gurugram have risen 24%, 19% and 17% respectively since 2019. Cities with large IT sectors like Bengaluru, Gurugram, Pune, Noida and those in the Mumbai Metropolitan Region witnessed considerable increases in rental values and yields due to more employees returning to offices.Read more

02 May 2024

NBCC Ltd., a prominent state-owned construction company in India, achieved remarkable success in project acquisition during the 2023-24 fiscal year. With a consolidated project value of INR 23,500 crore, marking 250% increase from the previous year, NBCC demonstrated its prowess in construction and infrastructure. Chairman K P Mahadevaswamy attributed this success to the company's robust order book and emphasized their focus on redevelopment and land monetization projects. Notable wins include securing significant FAR works in Amrapali and venturing into new sectors like agri-infrastructure. With a strong order book and diversification strategy, NBCC is poised for continued growth and impact on India's construction landscape.Read more

02 May 2024

India Ratings and Research (Ind-Ra) forecasts stability in the residential real estate market for FY25, focusing on affordability. Despite price increases, the market is expected to grow steadily, although at a slower pace compared to previous years. Stable interest rates will support affordability and spur home-buying activity. While sales growth is projected to moderate to 8%-10% year-on-year, demand for mid-income and upper mid-income housing segments remains strong. Price hikes are expected to slow to around 5% year-on-year, maintaining affordability. However, high unsold inventory levels in premium segments pose challenges. Overall, FY25 presents a cautiously optimistic outlook for the residential real estate market.Read more

01 May 2024

Gujarat's real estate market saw a slowdown in new project launches during FY 2023-24, with 1,721 registrations, down 7.7% from the previous year. Factors like rising land, construction, and labor costs, coupled with ongoing projects, contributed to the decline. Investor interest shifted towards other avenues like the stock market, impacting demand. However, office space demand surged as businesses normalized. Vadodara faces land scarcity, while Rajkot experiences mid-segment property slowdown. Ahmedabad sees a rise in redevelopment projects. Despite challenges, Gujarat's real estate outlook remains positive, driven by infrastructure development and employment growth. The affordable housing segment also declined, attributed to project completions and changing buyer preferences. Overall, developers are optimistic amid economic growth and evolving market dynamics.Read more

01 May 2024

India's household debt has risen to 39.1% of GDP, surpassing the previous record of 38.6%. Motilal Oswal's report attributes this increase to a 16.5% rise in non-housing debt, outpacing corporate borrowings, which only grew by 6.1%. The pandemic aggravated this trend, especially impacting low-income families. While GDP has rebounded to 8.4% growth, household debt remains high. Non-housing debt increased by 18.3% in December 2023, surpassing housing loans' 12.2% rise. The household sector contributed 70% to non-government, non-financial debt growth. Low household savings, at 5.1% of GDP, highlight economic challenges post-pandemic, necessitating careful management of household debt for sustainable growth.Read more

30 Apr 2024

Sundaram Home Finance, a prominent provider of property-related financing, is expanding its presence beyond South India, recently opening a branch in Kota, Rajasthan, with plans for another in Udaipur. With existing branches in Rajasthan and a goal to disburse INR 300 crore in loans over the next few years, Sundaram aims to capitalize on Rajasthan's growing urban population and demand for housing units. Managing Director Lakshminarayanan Duraiswamy emphasized the company's growth strategy, targeting states like Rajasthan, Maharashtra, and Gujarat alongside their established presence in South India. Sundaram offers a range of financial products beyond home loans, catering to diverse property-related needs, reflecting a broader trend of financial institutions tapping into India's housing demand.Read more