24 Oct 2024

Pune's property market saw a 33% drop in registrations in September 2024, with only 11,056 units registered, compared to 16,604 in the same month last year. This decline is largely attributed to the cultural observance of the Shraadh period, during which buyers avoid significant financial transactions. Despite this temporary downturn, Pune's property market has shown resilience overall. From January to September 2024, property registrations grew by 29%, totaling 138,412 units, and stamp duty collections reached INR 5,253 crore, a 38% year-on-year increase. Shishir Baijal, Knight Frank India's Chairman, emphasized Pune's strong market fundamentals, driven by rising incomes, positive buyer sentiment, and ongoing infrastructure development.Read more

23 Oct 2024

SEBI is set to auction 15 properties owned by Mangalam Agro Products, Sumangal Industries, and Falkon Industries India as part of its recovery efforts following violations of regulatory norms. Quikr Realty will assist in the auction, which will feature properties from these companies and others, including Ravi Kiran Realty India and Purusattam Infotech Industries. Bidders are advised to conduct independent inquiries regarding the properties before placing bids.Read more

23 Oct 2024

The Indian office space market is set to surpass a record-breaking 80 million square feet of gross leasing by the end of 2024, according to a Cushman & Wakefield report. In the third quarter alone, leasing surged by 66%, reaching 24.8 million square feet across eight major cities, marking the second-highest quarterly volume ever. This growth, driven by Global Capability Centres (GCCs), highlights India's growing status as a key outsourcing hub. Low vacancy rates and robust demand suggest that this momentum will continue, potentially driving rental prices higher.Read more

23 Oct 2024

Capital India Finance Ltd (CIFL), a small-cap NBFC specializing in MSMEs, has sold its housing finance subsidiary, Capital India Home Loans Limited (CIHL), to Weaver Services Private Limited for INR 267 crore. Weaver, backed by former HDFC employees, plans to secure up to INR 800 crore in funding from private equity firms to finance the acquisition. CIFL aims to realign its focus on core businesses, with CEO Pinank Jayant Shah stating that the sale will bolster capital for growth. After regulatory approvals, Weaver will launch innovative home loan products targeting self-employed individuals in Tier 2 and Tier 3 towns, emphasizing financial inclusion for women borrowers.Read more

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