Ever since the Securities and Exchange Board of India (SEBI) has cleared the fractional ownership framework for realty assets, there is an euphoria among the stakeholders. The built environment of Indian real estate that is always looking for new and exciting avenues to attract the investors. It has hence carried home the message that the “Next Big” investment basket has arrived. A Track2Realty report.
At the beginning of 2024, as the Indian real estate stakeholders (self-styled industry experts within the realty media landscape) are yet again influence peddling their bullish narrative, the reality check by Track2Realty clearly finds that the sales growth post-Covid has neither been broad based nor democratic. Real estate is yet again emerging as a parking lot of big money post the pandemic, as visible with the off-take of luxury & super luxury despite the stagnant job growth and wage growth.
Puravankara Limited, 5th Best Indian real estate brand (as per Track2Realty BrandXReport 2022-23), has announced an interim dividend payout of INR 6.30 per share for the financial year 2023-24 on 23,71,49,686 equity shares of face value of INR 5 each with a total dividend payout of INR 149.40 crores. The dividend will be paid to those shareholders whose names stand on the Register of Members of the Company as of February 1, 2024.
The holy river Saryu flows quietly; unmindful of the fact that on its bank, Ayodhya is fast emerging as the epicenter of economic growth and global tourism hub. The property landscape of the sleepy city till recently has made a giant stride in the last three years. Envisaged as a spiritual center and tourism hub, Ayodhya is also attracting big ticket economic corridors. A Track2Realty report.
Puravankara Limited, (5th best Indian real estate brand as per Track2Realty BrandXReport 2022-23), has recorded a strong sales performance in 9MFY24 with a sales value of INR 3,967 crores, an increase of 89 per cent compared to INR 2,100 crores in 9MFY23.
In a highly competitive property market of North Bengaluru, Provident Housing in its quest to raise the bar has experimented with Deansgate, a Manchester townhouse-style residences. Track2Realty reviews as to whether this theme-based project could make a market differentiator.
Puravankara Limited in the second quarter (Q2FY24) ending September 30, 2023 has reported sales of INR 1,600 crore, an increase of 102% Y-o-Y. Sales volume for the quarter stood at 2.01 msft, up by 89% Y-o-Y with a strong collection of INR 879 crore (+70% Y-o-Y).
Isn’t it ironic that in a country where the number of unsold housing units is skyrocketing, the business of real estate continues to be a seller’s market? Contrary to the developers’ influence peddling that the housing market is by and large a buyer’s market now, the fact lies that the developers continue to take the buyers for a ride. The developers’ exploitative practices are not limited to the delay of the project, but also default in delivering the promised amenities, and, most glaringly, with one-sided unfair contract. Track2Realty explains the options before the home buyers.
The quest for property has not subsided among the Indians; nor do they have any doubts over the appreciation potential of real asset. They still consider property the tangible asset class that is less prone to market volatility, compared to stock market and other avenues of investment. However, they need a bit of cushioning this festive season to take a plunge into the property market.
Intygrat Law Offices, a boutique law firm that has multiple real estate as well as home buyers’ client portfolio has been honoured with the National Legal Excellence Award at the ASSOCHAM’s Bharat Legal Conclave 2023. The award ceremony was in New Delhi on Friday, October 20, 2023.