16 Sep 2024

The Telangana government aims to raise a sum of INR 30 billion by auctioning the completed and incomplete flats, towers, and plots under the Rajiv Swagruha Scheme. These properties, located in areas like Nagole, Pocharam, and Khammam, were originally built to provide affordable housing to the middle class but have remained unsold since the scheme's 2007 launch. Two price categories are being considered: one for middle-class buyers and another for developers. A total of 760 flats, 36 incomplete towers, and various open plots are available for auction. Chief Minister A Revanth Reddy will soon decide on the pricing structure.Read more

16 Sep 2024

Analjit Singh's family office has repaid debts worth INR 5,500-6,000 crore that were taken from KKR & Co about a decade ago. The loans were used to fund investments in property and hospitality ventures. The family office is said to have repaid the final tranche of these loans, which dated back to 2011, by utilizing funds generated from the sale of a 3.2% stake in Max Financial. The Singh family's strategic debt repayment and asset restructuring demonstrate their prudent financial management.Read more

13 Sep 2024

Goa's state cabinet has approved a 130% hike in the minimum land prices in Bardez and Pernem talukas, raising rates from INR 3,000 to INR 8,000 per sqm, primarily affecting commercial property buyers. Chief Minister Pramod Sawant assured that ordinary citizens buying small plots for homes would continue to pay the previous rates. The price increase is driven by high demand and aims to boost government revenue while promoting balanced development across the state. As Bardez urbanises and Pernem grows due to the Mopa Airport, this move is expected to influence land prices and real estate investment in other regions of Goa.Read more

13 Sep 2024

The latest report from Magicbricks reveals a significant increase in the property price to annual household income ratio in India, rising from 6.6 in 2020 to 7.5 in 2024. The EMI-to-monthly income ratio has also surged, from 46 per cent in 2020 to 61 per cent in 2024, highlighting growing affordability concerns, particularly in metropolitan areas like the Mumbai Metropolitan Region and New Delhi. While cities like Chennai, Ahmedabad, and Kolkata remain more affordable, the rising costs present new challenges for homebuyers across the country.Read more

13 Sep 2024

Arnya RealEstates Fund Advisors has raised INR 375 crore in the first close of its maiden real estate fund, Arnya Real Estate Fund - Debt, launched in April. The fund targets INR 1,000 crore with an additional INR 1,000 crore green-shoe option, to be raised by March 2025. The fund will focus on structured debt investments in residential projects across India's top eight cities, aiming for returns over 20%. Arnya was founded by Sharad Mittal, leveraging his extensive real estate experience. This move aligns with the residential real estate sector's resurgence, driven by rising demand and developers' need for capital.Read more

13 Sep 2024

The Greater Noida Industrial Development Authority (GNIDA) recently auctioned three residential plots for INR 521 crore, exceeding the reserve price of INR 262 crore. Eldeco Infrastructure, Prasu Infrabuild with Divyansh Infraheight, and Purvanchal Projects secured these plots. This follows a successful e-auction where GNIDA sold five land parcels for INR 1,500 crore. Eldeco has been particularly active, acquiring multiple land parcels in Noida, Gurgaon, and Sonipat. The company recently secured INR 350 crore in funding from HDFC Capital Advisors, bringing their joint platform's corpus to INR 850 crore. Eldeco Group has completed 200 projects and currently has 30 more in various stages of development.Read more

12 Sep 2024

As of July 26, 2024, bank credit to India's commercial real estate sector reached INR 4.85 lakh crore, up from INR 4.38 lakh crore last year, reflecting a recovery from the pandemic. Though the growth rate slowed to 10.6% from 44.9%, office leasing remains robust, with 29 million square feet leased in the first half of 2024, marking a 19% year-over-year increase. Major cities report a 50% rise in leasing activity. The sector also sees rising interest in warehousing, data centers, and retail spaces, with projections for data center capacity to triple and warehousing stock to increase by 50% by 2027.Read more

12 Sep 2024

Brigade Enterprises, a prominent Bengaluru-based real estate developer, has launched a Qualified Institutional Placement (QIP) issue to raise up to INR 1,500 crore, following shareholder approval in March. The QIP, initiated on September 2, aims to expand the business by selling equity shares to investors. The committee of directors authorised the issue's opening and set a floor price of INR 1,164.70/share, while the share-price closed at INR 1,239.80 on the BSE, giving the company a market capitalisation exceeding INR 28,000 crore. Brigade reported a significant profit increase in Q1 FY25, with net profit doubling to INR 83.72 crore.Read more

12 Sep 2024

Arka Investment Advisory Services Private Limited (AIASPL) has introduced its second Alternative Investment Fund, the Arka Hreem Real Estate Opportunities Fund, targeting INR 500 crores with a green shoe option of INR 250 crores. Rohan Builders joins as the Operating Partner through its financial services arm, Hreem. Focused on Tier 1 cities and Grade A developers, the Fund aims to capitalise on the residential real estate sector's growth potential. This launch follows the successful close of Arka's first private credit fund.Read more

11 Sep 2024

Max Estates, a prominent real estate firm in India, plans to raise INR 800 crore by selling equity shares to institutional investors through a Qualified Institutional Placement (QIP) issue. The company's Investment and Finance Committee has approved the launch of the QIP, setting the floor price at INR 628.74 per share. The funds raised will be used to acquire land in the Delhi-NCR region, where Max Estates is one of the leading real estate developers. The company cites growth opportunities in its existing business as the rationale for this capital raise.Read more