Sandeep Mathrani has been appointed as the new CEO of co-workspace company WeWork. Sandeep Mathrani has previously served as CEO of Brookfield Properties' retail group for eight years.
The government has publically committed that it will provide housing to all by the year 2022. For this, the government needs to rejuvenate the sector. The government needs to make drastic reforms. This makes it all the more important that Finance Minister Nirmala Sitharaman gives real estate sector a relief in Union Budget 2020.
India ranks 47th in the world in terms of appreciation in housing prices as rates grew by only 0.6 per cent during July-September quarter over the year-ago period on slow demand, global property consultant Knight Frank said.
Maharashtra and Delhi NCR saw a significant decline in new launches of residential units owing to a slowdown in the real estate sector, a survey said. According to the survey by data analytics firm PropEquity, cities like Mumbai, Thane, Pune, Gurgaon and Noida saw a sharp decline in new launches as compared to third quarter of 2018 as well as second quarter of 2019.
A US-based real estate developer surprised its employees with a total of $10 million (over ₹70 crore) bonus. St. John Properties' Founder and Chairman Edward St. John surprised its 198 employees with a total of $10 million holiday bonus at a recent holiday party.
Hurun Research Institute has released a list of the top 10 richest real estate entrepreneurs in India. The list is, unsurprisingly, dominated by tycoons based in India's financial capital Mumbai. 6 of the top 10 richest real estate entrepreneurs are from Mumbai, while New Delhi and Bengaluru also get a mention in the list. Singapore is the only international city to find mention in the top 10 list.
Hurun Report and GROHE India on Monday released the third edition of 'GROHE Hurun India Real Estate Rich List 2019' -- featuring the 100 richest real estate entrepreneurs in India.
"In accordance with communication received from various regulatory bodies, programmes in Hotel Management, Culinary Studies and valuation of Real Estate, will not be recognised from academic session 2019-20 and onwards," a recent official order said.
Indian and Chinese real-estate companies are fast adopting Artificial- Intelligence for easy analysis of buildings and structures.
NBFCs have been a major source of funding in the last few years for cash-starved real estate firms, which are facing huge demand slowdown.
In a letter to the minister with Budget recommendations, the home buyers' association noted that despite the implementation of the Real Estate (Regulation and Development) Act and setting up of Real Estate Regulatory Autorities, several stalled projects have not been completed.
Inbound cross-border investment volumes into Indian commercial real estate accounted for $2.6 billion during the April-March period of FY2018-19.
Around 5.6 lakh housing units, worth Rs 4.5 lakh crore in seven major cities are running behind the delivery timelines, mainly due to demand slowdown and fund diversion by developers, according to property consultant Anarock.
To simply put the Knight Frank Wealth Report, Rs 7 crore will buy you 100 square meter of residential plot in Mumbai. That means roughly Rs 65,000 per square metre.
The joint report - ‘Digital Real Estate - Winning the Indian Market with Data’ highlighted the role of technology in the Indian real estate market and forecasted future trends
Be it real estate majors Unitech Ltd, Jaypee Group and Amrapali or others, all had to bear the brunt of the apex court for taking for ride ordinary citizens whose hard earned money was at stake.
If you own property and you are planning to rent it out, make sure you follow the legal procedure of tenant verfication or else you could face trouble.
A bench of Justice Arun Mishra and Justice UU Lalit said that residential projects of Amrapali in the National Capital Region seem prima facie illegal and its real estate business is like "a well-operated cobweb".
The apex court observed that if builders were diverting money invested by a person in a particular housing or commercial project to complete other projects, it, prima facie, amounted to misappropriation and criminal breach of trust.
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