Emaar Properties has reported a 44.35% jump in net operating profit of $332 million for the first six months of this year. The company had posted an operating profit of $230 million in the January-June period of last fiscal. However, total income for the first six months of 2012 remained flat at $1.068 billion, Emaar Properties said in a statement.
Most regions in the top metros have seen prices soar by double digit percentages in the last three years with areas in Mumbai and Delhi-NCR witnessing maximum price gains. In Delhi, Dwarka and Gurgaon regions saw 64% and 50% price rise in 2012 when compared to 2010. In Mumbai, Mira Road, Thane and Navi Mumbai saw prices increase within the range of 48% and 51% during the same time period. These are the findings of 99 acres.com study on the trends in realty prices of key metros.
Cushman & Wakefield has opened its new office in Ahmedabad…
CBRE has announced that its Western Region would now be headed by Nikhil Bhatia, based out of Mumbai. Nikhil Bhatia currently co-heads the Capital Markets business for CBRE in India, and shall assume the additional responsibility of managing the firm’s operations for the region.
The new concept of integrated townships is now more about a single developer taking over a large tract of land. There are benefits too. “The infrastructure is under the developers’ control,” explains Anuj Puri, Chairman and Country Head, JLLI, adding that the developer can plan and use the FSI better, and long-term maintenance is a possibility.
India is reeling under the continued onslaught of inflation, petrol price hikes and generalized insecurity about where the economy is headed. Against all expectations, property prices in our metros have held firm and even show signs of upward movement. While the man on the street continues to wonder when he will be able to buy a modest home of his own, India’s super-rich are raising palatial homes at truly astronomical expense.
A study by 99acres.com,says the property prices for the Mumbai region has seen an escalation in prices if we compare per square feet prices(PSF) of Q1-12 over Q1-11. This clearly reflects that the overall sentiment of the sector has improved drastically.
While buying a house majority of the Indians have now matured to pay for ready-to-move property than a castle in the air. No wonder, despite the high appreciation potential, the new launched projects have few takers and there is hardly any market for a pre-launch offer. Thanks to the poor delivery of the real estate developers, unmet commitments and execution risk involved, at least the end users are not interested in new launches anymore.
Housing demand is expected to remain subdued in short-to-medium term…
Even as the cost of housing is skyrocketing in Mumbai, an ambitious proposal to create at least 500,000 houses as part of a “Homes for All” initiative between the real estate industry and the Maharashtra Government is gathering dust in the ministry.