India’s Ultra-rich Class Betting on Luxury Properties
Betting on one of the few promising asset classes and aided by clear ownership titles, India’s wealthy are investing in luxury properties, persisting with a trend that began last year amid the pandemic. Buyers such as business families, startup founders and top CEOs have been paying ₹50 crore to as much as an eye-watering ₹1,000 […]
Residential Plot Prices Shoot up in Big Cities Amid Strong Demand
Property consultants and developers say demand is rising owing to an increase in incomes in the IT industry and families preferring independent homes post-pandemic. The prices of residential plots have doubled or tripled in the last two years and, in some cases, doubled in just one year due to strong demand in cities such as […]
Plot sales in Haryana Get a Push from Haryana Government
Haryana government’s decision to increase the ground coverage and floor area ratio for plots of different sizes further will accelerate the sales of plots, according to developers and property consultants. “Potential plot buyers will be lured to invest in plots because of the amendment brought into the Haryana Building Code 2017 and the selling USP […]
NRI Investments in Indian Real Estate Expected to Grow by 12%
NRIs have started returning to invest in Indian real estate as NRI investments in Indian real estate amounted to $13.1 billion last year and it is expected to grow by 12% this year, according to a report by 360 Realtors. “The real estate sector has proven to be an attractive asset class with healthier relative […]
Tata Realty Leases 1.56 Lakh sq ft Office space to Johnson Controls, PepsiCo in Gurugram
In the next 24 months, the leasing will gross an operating income of approximately Rs 27 crore, the company said in a statement Tata Realty and Infrastructure Limited (TRIL), a subsidiary of Tata Sons, said on May 4 it leased over 1,56,000 sq ft in its commercial projects in Gurugram to Johnson Controls and PepsiCo. […]
TARC Ltd Raises Rs 1,330 Crore from US-Based Bain Capital
Listed real estate developer, TARC Limited has raised Rs 1330 crore from pedigreed US-based Bain Capital, Amar Sarin, CEO & MD of the company told ET. The funds were infused by Bain Capital in the form of secured long-term NCDs. The transaction is one of the largest funds raised aimed toward growth and development in […]
Developers Hike Prices by 10% in NCR, may have to Increase the Price again to Absorb Rising Raw Material Cost
NCR-based real estate developers have hiked house prices by up to 10% and expect more escalation soon as global supply chain disruptions have led to a significant increase in raw material prices. Prices of building materials like cement and steel have jumped over 20% annually as of March 2022. The developers had been absorbing the […]
Share of Luxury Property in Total Sale Jumps to 12% in Q1 2022: Report
The sale and supply of luxury homes reached a new high in Q1 2022, with the highest sales and supply in three years driven by pent-up demand, benign interest rates, and stable prices, as per a report by Anarock property consultant. Luxury property accounted for 12% of overall sales in Q1 2022, up from 7% […]
DLF to Invest Rs 1,700 Crore in Office Space, Data Centre
DLF will invest close to Rs 1,700 crore in developing about 3.7 million sq ft of office space and a data centre in Noida, a senior executive told ET. The real estate company has leased about 360,000 sq ft of space at the upcoming Noida IT Park to Singapore-based ST Telemedia Global Data Centres (STT […]
Tatas begin process to merge Air Asia India with Air India; to house all 4 airlines under one roof at Gurgaon
The Tatas have begun the task of consolidating their airlines businesses through a proposed merger — of AirAsia India Pvt Ltd (AAIPL) with Air India (AI) — and bringing together all these entities under one roof at a mega office in Gurgaon. AI has notified the Competition Commission of India (CCI) about its plan to […]