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The Supreme Court has asked SBICAP or SBI Capital Markets to start funding six stalled projects of the now-defunct Amrapali group after it was informed that the financial institution has found only these to be viable. The top court asked the Centre to consider as a special case and provide the remaining money for construction of other stalled projects from the stress funds created for the real estate sector. A bench of Justice Arun Mishara and Justice UU Lalit was told by senior advocate Harish Salve, appearing for SBICAP, that it has decided to fund six identified projects of the Amrapali group. “Salve stated that the order may be passed that funding may be started for six projects as identified by the SBICAP. However, the receiver has made some suggestions, on which Mr Salve has also submitted that in case any direction is issued by the central government with respect to the projects in question, they will abide by it, as a special case,” the bench said. The top court also directed S

India's rank slipped 11 places to 54th in terms of appreciation in residential prices, as housing rates declined nearly 2 per cent during June quarter compared with the year-ago period, according to property consultant Knight Frank. India is at 54th spot amongst the 56 countries and territories tracked in terms of appreciation in residential real estate prices, the consultant said. As per the 'Global House Price Index Q2 2020', housing prices in India declined 1.9 per cent year-on-year (YoY). “As compared to Q1 2020, India moves down 11 spots in the global index, from 43rd rank to 54th rank in Q2 2020,” Knight Frank said. The Index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics. In the 12-month percentage change for the period Q2 of 2019 to Q2 of 2020, Turkey led the annual rankings with prices up 25.7 per cent YoY, followed by Luxembourg at 13.9 per cent and Lithuania with 12.4 per cent. Ho

​ By Deepak Goradia- Vice Chairman and Managing Director, Dosti Realty The burgeoning satellite city of Thane which is an extended suburb of the MMR region has netted the nickname – ‘The city of dreams’ a couple of years ago, and the label could not be more accurate than in current times. As prospective end-users and investors endure to stream into this developed metropolis from diverse parts of the country, the city’s advancement has been unabated and is presently expanding and merging to the other bordering towns. While every city undergoes a transmutation as it witnesses unrestrained migration, Thane’s case is atypical in the sense that the strategic growth is led by housing and commercial, along with being well complemented by the speedy infrastructure development in terms of connectivity and transportation. As per the previous census 2001-2011, Thane was considered to be a prime area for the population influx in the MMR region. A significant percentile of the population was keen o

Authored by Prateek Mittal Executive Director, Sushma Group Buying a home or living on rent has always been a crucial choice for many. Each option comes with its own set of pros and cons depending majorly on the financial health of the homebuyer and the property units available. While the popular thought remains rental homes being the cost-effective choice when compared to purchasing a home, a rational individual must assess the whole process before settling on a rental agreement that comes with certain appreciation annually or half-yearly. Tenants, who wanted to upgrade their living conditions before lockdown, can think of buying a property instead of shifting to another rented accommodation. This is an ideal time as home loans are currently in their best interest rate possible. RBI has cut the repo rate by 40 bps in the wake of the ongoing crisis; this directly affects the lending interest rates of banks. Repo rate currently stands at 4% as compared to 6.25% in 2018, and close to 5.

Gulshan, one of the leading real estate developers of North India, was honored with ‘Luxury Project of the Year-North India’ for its iconic ultra-luxury wellness homes Gulshan Dynasty by the Economic Times at a virtual press conference and felicitation ceremony. The award was jointly organized by ET Iconic brands and ET Emerging Consumer Brands in association with the ET Unwired. Winning Trophy – Gulshan Dynasty – Luxury Project of the Year – North India Located in Sector 144, Noida, and spread over 5.8 acres, Gulshan Dynasty offers well laid out homes with 76 percent open space, greenery, and natural light. Every feature in Gulshan Dynasty is thoughtfully placed and research-oriented. Talking about the Gulshan Dynasty, which is designed to take care of the health and wellness of its residents, Yukti Nagpal, Director, Gulshan, says, “We are pleased that Gulshan Dynasty has been recognized by the reputed jury members for its futuristic vision as an iconic luxury home destination in Nort

Mumbai : Centrum REMA, the Real Estate Management and Advisory arm of the Centrum Group, announces the launch of DigiREMA – a revolutionary online portal for channel partners, to assist in the sales & marketing of real estate projects. DigiREMA, allows the Channel Partners to create a personalized virtual presentation, covering all relevant project details and reach out to potential customers via SMS and other social media platforms. The portal, https://www.centrumrema.com/CP/ is free to use and comes with a readymade lead management system using OTPs to verify leads. DigiREMA – a first of its kind of innovation in real estate marketing in the country; is a free, self-service marketing tool that can be accessed by the channel partner via any device. Speaking about the launch, Harish Sharma, CEO Centrum REMA said “DigiREMA will not only help in creating newer markets , but will also become a free lead management tool for channel partners. Given the current situation of C

Migsun Group Delhi NCR’s leading real estate developer ventures into film production with Ali Abbas Zafar’s Khaali Peeli starring Ishaan Khatter & Ananya Panday. Co-Producer Yash Miglani of Migsun Group is excited for this maiden venture. Khaali Peeli will release on India’s first multi screen pay per view service ‘Zee Plex”. Yash Miglani Ishaan Khatter & Ananya Pandey Migsun Group is best known for its quality residential projects in many cities like Noida, Greater Noida, Indirapuram, Raj Nagar, Kaushambi, and many more. Speaking on the maiden outing in Bollywood, Yash Miglani, MD, Migsun Group said, “We are thrilled about this venture and plan to bring more fun in the lives of people through all kinds on cinema. The film particularly excites me as it has all elements of a proper masala hindi film. Khaali Peeli also stars Jaideep Ahlawat and will release on national holiday 2nd October.”

Launched last week, Bullmen Guarantee Offer aims to help more than 100,000 home seekers in Delhi NCR apart from similar number of commercial real estate buyers and investors. Bullmen Realty India, one of the top-notch real estate consulting firms in India, came out with this campaign to safeguard the investment of the real estate buyers, who sometimes find themselves stuck in projects that get mired in problems and fail to take off. The campaign has the potential to help the buyers choose from the huge inventory available in Delhi NCR. In H1 2020, Delhi NCR has unsold inventory of around 2 lakh and 6,190 newly launched units. “The guarantee that we are offering to the buyers is targeted to work in two ways – increase the faith of buyers in real estate and help get good sales for worthy projects. The offer to help the buyers get double the money from the developer is turning out to be the best assurance that buyers could get. No one wants their money back if the project is delivered as

In February 2020, Elan Group announced adoption of flood affected Khidrapur village in Maharashtra. The construction of 70 houses for flood-affected victims has taken off at Khidrapur village, Kolhapur district at Maharashtra. The project is a joint initiative of Bollywood megastar Salman Khan, the Government of Maharashtra and Elan Foundation – a philanthropic arm of Gurugram based commercial realty developer Elan Group. The project is being funded by the Government of Maharashtra to the tune of INR 95,000 whereas the rest of the expenses would be borne by Salman Khan and Elan Foundation. Elan Foundation and Salman Khan begins the reconstruction of houses for flood-hit victims at Kolhapur Hon’ble Maharashtra Minister Shri Rajendra Patil Yadravkar tweeted that the work on 70 affected houses has finally begun. He had applauded the initiative and assured of full Government support. He also posted a series of pictures which showed the minister doing a ‘bhoomipujan’ ceremony. The initiativ

Happy Homes, a leading real estate consultancy, dealing in retail & commercial real-estate was awarded today as the “Leading Real-estate Consultancy of the year” by Bizox Media. The company has been awarded for its contribution to the real-estate industry. Mr. Harish Arora, Managing Director, Happy Homes Happy Homes is helping builders and real-estate players in achieving exceptional sales numbers, during the COVID times. The company has been instrumental in clearing inventory for its partners, even during the lock-down. Commenting on receiving the award achievement, Mr. Harish Arora, Managing Director, Happy Homes said, “The whole industry is reeling under the pandemic crisis. We have implemented effective and innovative techniques to pull industry players out of the crisis situation; this has helped us deliver great results. Our hard work and perseverance has paid off. We would like to thank Bizox Media jury for recognizing our efforts. The award is a stamp on our persistent hard

Amid COVID-19, Our lives got into halt mode and to break the monotony IQI India started campaign #RunForHappiness, to spread Happiness, Joy, Smile and passion and resume our outdoor lives once again amidst this Pandemic chaos and suffocated situation. A Step towards appeal to be #FitIndia takes yet another step forward with #RunForHappiness. The Event took place at India Gate at 6:30 AM. It was successful event with 40 Participants were physically present at India Gate along with approximately 300 Participants joined us digitally running from their nearby locations. The event was successful inaugurated by Dr. Eish Singhal (DCP, New Delhi). IQI India – #RunForHappiness In association with our Running partner by the iconic brand Seven by MS Dhoni, Our beverage partner Keventers and our food partners Food Forum partners to rejuvenate and inspire the youth of India by the Initiative #RunForHappiness for a healthy and active life during this Pandemic. Mr. Manu Bhazin and Mr. Pankaz Jaiin Th

India’s leading developer M3M Group recorded sales worth of Rs. 1150 crores on launching its Unlock Gurugram campaign. This announcement comes amidst tough times wherein several real estate projects have been hit hard due to the pandemic. Unlock Gurugram comprised of an unbeatable value proposition across spectrums-under construction and delivered residential as well as commercial projects. Having struck the right note with the end consumer, right after the pandemic, the company is confident of sales as one steps into the festive season. M3M is targeting 2200 crores of sales, across verticals in October-November. M3M Tee Point, Golf Course Extension Road, Sector 65, Gurugram Pankaj Bansal, Director, M3M Group, “We are elated to share that we have recorded sales worth Rs. 1150 crores on launching our Unlock Gurugram campaign. As we set out to create a campaign, the word ‘lockdown’ figured most prominently in our conversation. We realized ‘Unlock’ would be the most apt antidote for peopl

Study space is the most important thing for 66% Indian students in their accommodation and significantly impacts value-for-money perception, as per Sodexo’s University Lifestyle Survey 2020. Meeting this demand, Tribe Student Accommodation – An award-winning luxury student hostel and Co-living operator and Sodexo, India’s leading food and facilities management company, have joined hands to offer greater comfort and ease to the higher education students. The initiative, includes complete management of Tribe Student Accommodations’ 600-bed residential campuses in Mumbai and Pune in its first phase. Speaking about the development, Yogesh Mehra, CEO & Founder, Tribe Student Accommodation said, “We, at Tribe Student Accommodation consider ourselves to be the most premium luxury student hostel operators in India. Being a pioneer in this luxury niche, we pride ourselves on providing the best student living experience possible in the country. We are continuously at work trying to improve a

In the first-ever of its kind step in the real estate sector, Bullmen Realty India has come out to the rescue of property seekers who find it difficult to trust the project they are trusting. Indias best property portal has launched a campaign Bullmen Guarantee Offer that provides a shield to the customers against any wrongdoing. The shield is intended to safeguard the investment as Bullmen Realty India will return the double money of the buyer if the developer fails to deliver the project. With this campaign, Bullmen Realty India is bringing more transparency to the sector, which was mired with controversies because of the misdoings of a handful few. The company is one of the top-notch real estate consulting firms in India that has already blown the trumpet of success many times in the past. Launching the shield offer, Ankush Jain, MD, Bullmen Realty India, said, “This has never been done in the history of Indian real estate brokerage. At a time when people are showing trust in real e

This dada is the best guide to real estate decisions. GK-Da, aka Griho Kumar-Da, has been clearing misconceptions and providing reliable advice to those who are unsure about the when, why and the how of buying a home. GK-Da, whose real name is G.K. Banerjee, is the friendly mascot of a three-month-long campaign by CREDAI Bengal, the West Bengal Chapter of the Confederation of Real Estate Developers' Associations of India (CREDAI), the apex body of real estate developers in the country. With over 450 members, Credai Bengal, among numerous other initiatives to boost the sector, promotes transparent communication between consumers and real estate developers. The innovative virtual character of GK-Da, whose knowledge of the real estate market is second to none, has allowed CREDAI Bengal to answer the queries of prospective homebuyers whose plans have been affected by the pandemic. The unique campaign proposition is Etai Best Time' or This is the best time', which is GK-Da'

Key Points: Elante Group is inviting investors who are willing to invest more than 100 Crores in quality assets. Despite the fact that COVID-19 slowed down the industry even further, Elante Group launched two flagship projects in mid lockdown time located in Gurgaon. Potential home buyers now want t heir new home to be fully automated and office ready and prefer small and gated communities in view with issued guidelines for healthy living in the wake of pandemic. Investment in luxurious apartment and buildings in small communities brings rapid ROI and real time growth for both the buyers and investors at large scale. As the Indian real estate market is now improving at a steady pace and potential buyers are more inclined to own a home in gated societies in view of the small group being more suitable for a standard living in new normal, Elante Group has opened up new investment opportunities with its exclusive projects in the Delhi NCR area to give buyers more choice and to equip the i

BSE Listed construction giant Generic Engineering Construction and Projects Ltd. has bagged new work orders worth Rs. 101.95 crore for various institutional projects from various clients, which includes a project of Rs. 30 crores for construction of school from Aditya Birla Group. With receipt of above, the total current outstanding order book stands at Rs. 1,067.54 Crore. Mr. Jayesh Rawal, Director; Mr. Manish Patel, MD and Mr. Tarak Gor, CFO On the receipt of the orders, Mr. Manish Patel, Managing Director said, “We are delighted with our new work order wins, especially as it comes at a time when the entire construction and real estate sector are passing through very challenging times. We are gradually scaling up our execution, post the graded lifting of lockdown, though shortage of labour remains a key constraint as of now. We expect the work to normalize in second half of this fiscal year. At the same time, to mitigate the issue of shortage of manpower, the company has started bidd

The pervasive impact of the COVID-19 pandemic is evident on real estate through stalled deals, halt in sales, and delay in launches. As India enters Unlock 4.0, the restarting of economic activity and push by the government through various initiatives have set the pace for boosting demand and sales in real estate sector. AlphaCorp, GurgaonOne, Sector 84 located at the heart of New Gurugram adjacent to Dwarka Expressway “The real estate sector was already hit by the market slowdown. It was expected that it would take longer to return to normalcy, but with the revision in interest rates and a few favourable government policies, the market has already started reviving and the demand graph is trending upwards. The construction works have also resumed in order to deliver the projects as per the given timelines. Homebuyers are more conscious now to invest in a property with assured safety, to live a sustainable life. The rise in the housing demand for Tier-II cities can be seen because of af

The city has the least unsold inventory as on H1 2020 that can be offloaded in next two years It stayed strong with the second highest residential launches over second quarter of 2020 The city led India’s office supply with a 30% share in H1 2020, significantly driving the country’s office absorption with an 18% share during same period Hyderabad, August 2020: Hyderabad continues to show resilience and its real estate dynamics kept up the momentum according to the JLL-CII report “Hyderabad Real Estate – A Road Map amid the COVID -19 crisis,’ ’ launched today. The city’s real estate performance was far better in H1 2020 as compared to other cities in India. Its formal economy was one of the first in urban India that resumed its stability as the lockdown rules were relaxed. Despite the nationwide lockdown, in Q2 2020, Hyderabad continued to witness relatively good office leasing and residential sales. Once construction activities resumed in May 2020, the city also saw supply of new off

Real estate has time and again proven to be the most valuable capital asset. Crisis situations like the ongoing contagion leading to market uncertainty has strengthened its status further due to the appreciation and future returns promised. The lockdown did give a direct setback to the sector in terms of halted construction, which further impacted the delivery and possession of projects. However, looking at the current scenario government’s timely aid of extensions and relief packages is helping realty in picking up some pace as industries began to reopen and function as per the new normal. Quality of lifestyle has undergone a drastic transformation for every section of society, which has driven a change in preferences for residential segment. In order to map these changing trends amongst different demography of buyers, the real estate sector has become more adaptive and competent with technological integrations such as digital marketing, virtual tours, drone views, live project launch