April 2024

RBI Monetary Policy 2024: Unchanged interest rates to encourage homebuyers to invest in real estate; boost housing sales

RBI Monetary Policy 2024: Unchanged interest rates to encourage homebuyers to invest in real estate; boost housing sales

As expected, the Reserve Bank of India on April 5 once again kept the repo rate unchanged at 6.5 per cent. The decision offers a sense of continuity and predictability to the real estate sector. Unchanged lending rates present EMI-dependent homebuyers and those waiting on the sidelines to fulfill their home-ownership aspirations, said real estate experts. RBI MPC: Reserve Bank of India's (RBI)...

Bengaluru-based Puravankara crosses ₹5,914 crore in sales in FY24

Bengaluru-based Puravankara crosses ₹5,914 crore in sales in FY24

Bengaluru-based Puravankara Limited has recorded sales of ₹5,914 crore in FY24, an increase of 90% compared to ₹3,107 crore in FY23. Customer collections increased by 60 per cent to ₹3,609 crore for the FY, compared to ₹2,258 crore in the previous fiscal, the company said in a regulatory filing on April 5. Bengaluru-based Puravankara Limited has recorded sales of ₹5,914 crore in FY24,...

NGT notice to Centre, UP over illegal construction in Noida, G Noida

NGT notice to Centre, UP over illegal construction in Noida, G Noida

The National Green Tribunal (NGT) has issued notices to the Centre, Uttar Pradesh government, and local government bodies over the alleged “large-scale unauthorised constructions” that have come up in the twin cities of Noida and Greater Noida, and sought responses in two months. The NGT was hearing a petition filed by Ghaziabad resident Rajendra Tyagi, who alleged that illegal...

Prestige Group acquires 21 acres of land in Whitefield, Bengaluru, for ₹450 crore

Prestige Group acquires 21 acres of land in Whitefield, Bengaluru, for ₹450 crore

Listed real estate firm, Prestige Group, has acquired 21 acres of land in Whitefield, Bengaluru, for ₹450 crore and plans to develop a residential project spanning 4 mn sq ft of developable area, comprising around 1800 apartments, the company said in a regulatory filing. Prestige Group has acquired 21 acres of land in Whitefield, Bengaluru, for ₹450 crore. (Picture for representational...

Bengaluru-based online gaming firm Gameskraft buys land parcel in Gurugram for ₹90 crore

Bengaluru-based online gaming firm Gameskraft buys land parcel in Gurugram for ₹90 crore

Bengaluru-based online gaming company Gameskraft Technologies Private Limited has bought a land parcel spread over an area of 8.61 acres in Gurugram, Haryana, for ₹90 crore, documents accessed by Propstack showed. Bengaluru-based online gaming company Gameskraft Technologies Private Limited has bought a land parcel spread over an area of 8.61 acres in Gurugram, Haryana, for ₹90 crore The...

Gucci owner splashes out €1.3 billion for building on Milan’s iconic shopping street

Gucci owner splashes out €1.3 billion for building on Milan’s iconic shopping street

(Bloomberg) -- Gucci owner Kering SA is spending €1.3 billion ($1.41 billion) for a property on Milan’s toniest shopping street.  Gucci owner Kering SA is spending €1.3 billion ($1.41 billion) for a property on Milan’s toniest shopping street. (Pexel) The French luxury group said Thursday that it’s buying Via Monte Napoleone 8 from a unit of Blackstone Property Partners Europe....

What is the impact of Bengaluru’s water crisis on real estate?

What is the impact of Bengaluru’s water crisis on real estate?

Housing sales in Bengaluru have dipped by 2% to 13,133 units from 13,390 units in the year-ago period due to a reduction in sales in the affordable category even as the office demand in the IT city remained flat at 3.5 million square feet, a report by Knight Frank has said. Housing sales in Bengaluru have dipped by 2% to 13,133 units from 13,390 units in the year-ago period due to a reduction...

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