According to a World Bank report, India received USD 79 billion in remittances in 2018 – with a sizeable portion going into real estate. NRI investments into Indian real estate are led Indian expatriates from UAE, USA, UK, and Canada. In terms of Indian cities, Bengaluru, Mumbai, Pune, Hyderabad, Chennai and Delhi-NCR currently attract the lion’s share of NRI investments.
DLF has signed its second joint venture with HINES. DLF Home Developers Limited (“DHDL”), a wholly owned subsidiary of DLF Limited (“DLF”), and Green Horizon Trustee (an affiliate of “HINES”) have entered into a Joint Venture for developing a high-end commercial project in Gurugram.
The project named Atelier Greens, focuses on offering lifestyle beyond the carpet area, drawing inspiration from making spaces where art of living grows naturally.
Smartworkshas added two new centres in Chennai and Pune to further consolidate its leadership in these two markets. already has two and three centres respectively in these cities. The centres will be operational by early next year and have a total seating capacity of 5000+ people.
In a move to strengthen its position as one of India’s largest student co-living companies, Stanza Living has raised a total of INR 73 crore (USD 10 million) in an investment round led by Sequoia India.
Sunil Goel, the second largest promoter and shareholder of Omaxe Group has alleged for financial fraud at Omaxe Group. He has filed a legal petition against Rohtas Goel, Chairman & Managing Director, Omaxe Ltd for malpractices and financial mismanagement carried out in the company allegedly by Rohtas Goel.
The Northern Peripheral Road (NPR), also known as Dwarka Expressway, is an 18-km stretch of road that is being developed under the public private partnership (PPP) model. This stretch will connect Dwarka Phase II and Palam Vihar to National Highway 8 near Kherki Dhaula and Pass Pataudi Road. This is a highly lucrative project that has been taken up by the Haryana Urban Development Authority (HUDA).
Paras Buildtech has lost the maintenance and management of Paras Downtown Square, Zirakpur to the Association of the unit holders/shopowners, pursuant orders passed by Additional Chief Administrator, Greater Mohali Area Development Authority (GMADA). The Punjab and Haryana High Court has refused any interim relief to the builder against the order.
It is generally accepted in the Indian market that rental yields in the country are often much lower than elsewhere in the world because relatively few people seek rented homes: 66 per cent of homes in Indian cities and 90 per cent of homes in rural areas are owner occupied.
Track2Realty Public Perception Survey, however, proves these assumptions wrong. More than half of Indians, as many as 54%, track the real estate news, analysis and launches even after they have purchase their house. Even more in number, 58%, monitor real estate sector and developers’ performance along with reputation for future investment purposes.