Thai retailer Central Group has acquired the landmark KaDeWe property in central Berlin from the insolvent Austrian company Signa in what it said was another step towards buying the group. Central said in a statement on Friday that it was optimistic about talks to acquire the entire KaDeWe Group, which includes Alsterhaus in Hamburg, and Oberpollinger in Munich.
Realty firm Ashiana Housing on Saturday said it sold 224 luxury flats in Gurugram for Rs 440 crore within 15 minutes of its launch. The project is located at Sector 93 in Gurugram, Haryana. In a statement, the company said it has ''sold out the entire phase 3 of its prestigious project, Ashiana Amarah within 15 minutes of launch''. ''We are very happy with the incredible response to Ashiana Amarah phase 3 launch. We started registration at 11 am and we had received 800 cheques for 224 units by 11.15.
Piramal Enterprises has invested more than Rs 500 crore in a collection of projects by real estate developer Puravankara Group. The projects span across various regions in India and include both commercial and residential properties. The funds will be injected through a senior secured financing structure and are currently allocated to four projects of the developer. A significant development of commercial properties, spanning over 800,000 sq-ft, is underway along Kanakapura Road in Bengaluru, an area recognised for its commercial growth.
The New Delhi Municipal Council (NDMC) is planning to develop a new clock tower at a central location in the Lutyens Delhi area, senior officials aware of the matter said on Sunday, adding that the civic body has begun to look for a suitable site. A senior NDMC official said that lieutenant governor (LG) VK Saxena has directed the civic body to develop a clock tower. The context to this is that the Town Hall, near Jantar Mantar in central Delhi, housed a clock tower atop the headquarters building of NDMC, which was demolished to make way the complex that houses Palika Kendra
Real estate developers should not fall into the 'trap of investors’ as this could affect their cash flows and result in projects getting stalled, Anand Kumar, chairman, Real Estate Regulatory Authority for NCT of Delhi and Chandigarh said that the CII Conference on ‘Evolving Landscape of Indian Real Estate: Trends and Future Outlook’ held in the Capital. Kumar cautioned that if builders do not act against such investors, their "financial cycle will be disrupted" and that will give rise to stalled projects.
Real Estate developers are avoiding festival offers this season because of high demand and quick sale of projects. During COVID and the slowdown in the real estate period when there was an oversupply of inventories, builders used to give various incentives like free registration, TVs, ACs, cars and even foreign trips for booking/buying flats. The situation has changed now, recently Godrej properties sold its Gurugram project "Gold Zenith" having 1050 flats worth Rs 3000 crore in just 3 days.
Real Estate developers are avoiding festival offers this season because of high demand and quick sale of projects. During COVID and the slowdown in the real estate period when there was an oversupply of inventories, builders used to give various incentives like free registration, TVs, ACs, cars and even foreign trips for booking/buying flats. The situation has changed now, recently Godrej properties sold its Gurugram project "Gold Zenith" having 1050 flats worth Rs 3000 crore in just 3 days.
Around 8 million square feet of retail supply is expected to hit the market this year. Over a third of the inventory is anticipated to be in superior category malls and nearly half is likely to be in Hyderabad, a new report by Cushman & Wakefield has said. The report further reveals that the vacancy rate of Grade-A malls across many cities especially in Delhi-NCR, Pune and Chennai, witnessed a notable decline in the first quarter.
The Indian real estate sector will grow over three times to reach an estimated USD 1.5 trillion by 2034, constituting 10.5% of the total economic output by then, according to a joint report by Knight Frank India and CII. In its latest report titled ‘Indian Real Estate: A Decade from Now’, Knight Frank India, a leading real estate consultancy in the country, in association with the Confederation of Indian Industry (CII), has projected that the value of the Indian real estate sector.
Share of affordable homes -- priced up to Rs 45 lakh each -- in total housing sales more than halved to 22 per cent during January-March across top eight cities amid strong demand for luxury flats, according to PropTiger. Share of affordable homes in total housing sales stood at 48 per cent in the January-March period of 2023 calendar year. Housing brokerage firm PropTiger.com data showed that housing sales grew by 41 per cent to 1,20,640 units during January-March 2024 across top eight cities from 85,840 units in the corresponding period of the previous year
