November 2019

NBCC to start work at Amrapali projects in Noida and Greater Noida

NBCC took over the project in July on the SC orders after homebuyers petitioned it following the Amrapali Group’s failure to deliver around 30,000 flats in 15 projects. The promoters of the Group were jailed, and the court receiver is controlling the firm. The state-run company NBBC (India) Ltd on Monday floated a tender to hire firms that will finish and deliver flats in seven incomplete housing...

MMR, NCR lead affordable housing in last 5 years

Both the regions contributed 55% share of the overall new budget housing supply between 2014 and 2018. Property markets of Mumbai Metropolitan Region (MMR) and National Capital Region (NCR) have witnessed a major shift as both new supply and housing sales have led the thrust of affordable housing over the last five years since 2014. Both the regions contributed 55% share of the overall new budget housing...

Institutional investments into real estate triples during 2014-18

Investments into Indian real estate have more than tripled to Rs 140,000 crore. Institutional investors’ appetite for Indian real estate has been growing in the backdrop of series of reforms undertaken by the government and enhanced usage of technology that has changed the investors’ outlook towards the asset class. Investments into Indian real estate have more than tripled to Rs 140,000 crore between...

Skill India: CREDAI says will train 13,000 construction workers in 2019-20

The real estate and construction sector alone needs 45 million additional skilled workers over the next 10 years, according to CREDAI. As the construction industry is grappling with shortage of skilled workforce, the apex body of registered builders CREDAI is aiming to train 13,000 workers by 2020 across the country with the help of government-backed skill training agencies. The real estate and...

Flexible workplace demand to jump 5-times to 130-140 million sq ft by 2025: Report

India is one of the largest flexible workplace markets in the world. The consultant has estimated the global flexible workspace inventory at about 125 million sq ft, of which nearly 27 million sq ft is located in India. There are 1,000 operational... New Delhi: Demand for flexible workspace in India is estimated to jump five times by 2025 to 130-140 million sq ft, accounting for one-third of global...

Companies renewing office leases ahead of expiry to cap costs

Occupancy levels in Indian commercial real estate have been rising over the last few years on demand from new players in ecommerce, healthcare and technology, apart from existing demand from the BFSI sector. Data shows that leasing in the first th.. Robust demand for Indian commercial real estate and rising rentals are pushing companies to renew lease deals ahead of expiry, as they seek to future-proof...

UP RERA threatened to impose Rs 371 lakh fine for not giving possession

UP RERA has identified 397 projects in the NCR region of several promoters where the compliance of the court orders regarding possession are not being followed. The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a show-cause notice to 22 builders and have threatened to impose fine of Rs 371 lakh for not following order of giving possession on the given date. UP RERA has identified 397...

Indiabulls Real Estate announces share buyback of Rs 500 crore

The buyback price is more than the double of the current share price, which is ruling at Rs 43.40 on BSE. New Delhi: Indiabulls Real EstateNSE -0.57 % Ltd (IBREL) on Friday announced a buyback of up to 5 crore shares at Rs 100 each, which could cost the company up to Rs 500 crore. The buyback price is more than the double of the current share price, which is ruling at Rs 43.40 on the BSE. In a regulatory...

Average flat sizes shrink 27 percent in 5 yrs; NCR sees least decline: Anarock

The liquidity crisis, changing buyer preferences, and growing concerns about affordability have caused real estate developers to rethink size. NEW DELHI: As builders seek to reduce apartment sizes to boost affordability, the average area of residential flats has shrunk 27 per cent over the past five years in seven major cities, but dimensions in the NCR region have fallen merely six per cent, according to...

North India states have more brokers per project

Delhi has 189 agents for 21 projects while Haryana has 1,673 agents for 718 projects. The actual number of agents are much more as the registration happen both as an individual and a company and big companies under one registration have over 100 a... New Delhi: Delhi has more than eight property agents for every project on average, followed by Chandigarh, Punjab and Haryana, indicating greater reliance on...

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