The National Company Law Tribunal (NCLT) has agreed to initiate insolvency proceedings against real estate developer Ansal Properties & Infrastructures (Ansal API). The petition for the same was filed by 126 flat buyers of one of the company’s housing projects called “The Fernhill”.
Real estate developer M3M India has purchased a 13-acre land parcel in Noida. The outright purchase has been through e-auctions and the developer plans to invest around Rs 2,400 crore to develop a mixed-use project. M3M India has a major presence in Gurugram and this is part of the company’s market expansion to Noida through this project.
The reduction in Gross Non-Performing Assets (GNPAs) is forecasted to continue in FY2023 following the reduction of 6 bps in Q1 FY2023. The GNPA assessment has been retained at 2.7-3.0% as of March 31, 2023. With growth in both the scale as well as improvement in asset quality indicators, the profitability is forecasted to revive almost to the pre-Covid level by the end of FY2023.
The Indian real estate has been known to dole out discounts & freebies every festive season to reap the auspicious spirit. It worked well for the sector for quite some time as the Indians are traditionally known to buy property during the festivals. However, the slowdown in the last five years made the marketing strategists look for alternative ways & means to bring the buyers back to the property market during the festive season. Track2Realty analyses the market trend.
The reports of Adani Realty merger with DB Realty has taken market analysts by surprise. According to the sources close to the developments, this is Adani’s bid to get into listed realty companies’ portfolio. However, the larger question that only Adani Realty can answer is that to what extent would the giant carry over the baggage of the tainted DB Realty. The memories of Godrej Properties announcement to join hands and getting market backlash of shareholders are still fresh in public memory. A Track2Realty analysis.
Buy a house with mortgage and then get so frustrated with the delays that you just stop paying the EMIs. This sounds funny, illegal and outrageous, but has already started trending in the world’s largest property market of China. The global property markets in general and susceptible markets like India in particular are watching the developments in the neighbourhood with a hope & prayer that such unpleasant events should not confront them. A Track2Realty analysis.
Real estate in general and its future growth in particular is defined by its demand drivers. It is relatively easier to forecast the demand drivers in the residential sector. Reason being that the economic activities indicate the migration of the workforce and hence inherent need for housing. However, to forecast the emerging economic activity, both sector wise and region wise, is more often than not guesstimate, finds Track2Realty.
Puravankara has closed its targeted AIF (Alternative Investment Fund) of INR 750 crore (including a green shoe option of INR 250 crore). The company targets the final close of the Fund by September 2022. The Fund will invest in a mix of plotted developments and mid-sized mass housing projects under the ‘Purva Land’ and ‘Provident Housing’ brands.
Home buying is more often than not linked to the financial health of the home buyers. However, mental health is as important as the financial health and the Indian housing market seems to rob the buyers the much needed peace and happiness that comes with an asset class like the home. The stress and anxiety is not limited to finding the right home, rather the real mental stress begins once one has bought the dream house. A Track2Realty pan-India survey.
CREDAI as a real estate industry body fails miserably time & again to gain public & policy level acceptance. Reason: Shady builders have more often than not been operating as the elected office bearers of CREDAI. The situation is all the more grave with CREDAI NCR team that believes in convince, confuse or corrupt philosophy of public, policy & media engagement. In his diary of a real estate journalist, Ravi Sinha highlights how focus on projection than perception change at the ground has been the nemesis of CREDAI in general and CREDAI NCR in particular.