Selling dreams. India’s diaspora is driving a property boom in the world’s fifth-largest economy. New luxury home launches by saleable area in the top seven cities reached 231 million square feet in the year to March, up 48% year-on-year, according to ICRA, a credit rating agency. Average luxury home prices in places like New Delhi, … Read more
Luxury Home Sales: Demand for ultra-luxury homes, units priced above Rs 40 crore, has continued to rise unabated in 2024, despite escalating prices. According to recent data from real estate consultancy ANAROCK, a total of 25 ultra-luxury homes were sold in India’s major cities (Mumbai, Hyderabad, Gurugram and Bengaluru) in the first eight months of … Read more
Prestige Estates raises funds: Real estate giant Prestige Estates Projects Ltd has raised Rs 5,000 crore by issuing shares to institutional investors through a qualified institutional placement (QIP). On August 29, the company launched its QIP to raise its funds. According to a regulatory filing on Wednesday, the fundraising committee of the board approved the … Read more
Elephant in the room. Fixing Britain’s housing problem will require some government muscle. Prime Minister Keir Starmer has promised to increase the supply of cheap homes and change planning laws, but relying on private developers may have its limits, and share prices in the sector are not reflecting a boom. Starmer will also need to … Read more
US home prices fall: U.S. single-family home prices fell in June, leading to the smallest annual increase in nearly a year, as higher mortgage rates pushed buyers to the back burner and boosted housing supply. House prices fell 0.1 percent month-on-month after remaining unchanged in May, the Federal Housing Finance Agency said on Tuesday. They … Read more
Shopping mall in Gurugram: Real estate firm Elan Group has awarded a Rs 500 crore contract to Leighton Asia to build its new mall in Gurugram. According to the announcement, Leighton Asia, the construction arm of Australia’s CIMIC Group, has bagged the contract for Elan Imperial Mall, the new project from Elan Group’s retail portfolio. … Read more
FPCE criticises MahaRERA: The People’s Forum for Collective Efforts (PFCE) has expressed concern over Maharashtra’s real estate regulator MahaRERA and its new establishment of a conciliation forum aimed at resolving disputes between builders and homebuyers. According to the FPCE, this could lead to a conflict of interest. In a letter dated August 19, FPCE Chairman … Read more
DDA Housing Plans: Delhi Development Authority’s new housing scheme, ‘DDA Dwarka Housing Scheme 2024’, saw over 1,100 registrations in the first two days. The Delhi Development Authority has drawn up three accommodation plans for 2024, which include DDA Dwarka Housing Scheme 2024, DDA Sasta Ghar Housing Scheme 2024 and DDA Madhyam Vargiya Housing Scheme 2024, … Read more
Real Estate Fund: In a move that highlights the current difficulties of the commercial real estate sector, UBS has announced the liquidation of a $2 billion real estate fund it acquired through its purchase of Credit Suisse. The move comes as the office real estate market, particularly in the United States, continues to suffer from … Read more
Kalpataru reduces the defeat: Kalpataru Ltd, a real estate company preparing for its initial public offering (IPO), reported a consolidated net loss of Rs 100.74 crore for the last fiscal year. This marks a reduction from the loss of Rs 200.73 crore reported in the previous fiscal year. The company has filed a preliminary document … Read more
