Equinox Realty to invest Rs. 4000 crore in residential project
Equinox Realty, the property development arm of Essar group, has announced plans to invest around Rs 4,000 crore to develop residential units across the country.
Equinox Realty, the property development arm of Essar group, has announced plans to invest around Rs 4,000 crore to develop residential units across the country.
When a property dealer suggested Kartik Shah to set up his office at Navi Mumbai, instead of South Mumbai market, it seemed to be a sound business sense.
When 80 years old Ramakant Apte in California read what filmmaker Karan Johar said about his birthplace Bandra as the new heart of the city, he got so nostalgic that India visit in general and moving around his good old queen of suburbs in particular was his wish list number one.
According to the 2010 census, Mumbai now houses around 14 million people, which makes it India’s most populous city and the world’s second-most populous city.
2015 proved to be a good year for key Indian metros as inflows into real estate by private equity (PE) funds was at a record high. The total investment that the sector got was approximately INR 19,500 crore.
Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project, according to the sources close to the development.
Equity capital inflows touched USD 8.9 billion between January and September, registering a 46% Y-o-Y growth. The strong momentum in deal volume continued, with about 200 deals reported during this period, compared to 151 deals in the same period last year. The average deal size also increased to nearly USD 45 million in the first nine months of 2024 from about USD 36 million in 2023. Mid-sized deals, ranging between USD 10-50 million, represented 56% of the total investment inflows during this period.
In a report ‘India Market Monitor Q3 2024 – Investments’, CBRE indicates a robust 46% Y-o-Y growth in real estate equity investments, totalling USD 8.9 billion in Jan-Sep ’24 —the highest-ever recorded since CY 2018, surpassing the USD 7.4 billion total equity investments for CY 2023. On a quarterly basis, equity investments in real estate stood at USD 2.6 bn in the Jul-Sep’24 period. Domestic investors (predominately developers) took the lead with ~79% share in equity capital inflows in Jul-Sep ‘24. Singapore-based investors accounted for nearly 73% of the total foreign capital inflows, followed by the United States (~22%). Developer activity picked pace in Jul- Sep ’24 quarter, accounting for a share of nearly 47% in total equity investments, followed by institutional & collective vehicle investors (~36%).
Q3 2024 attracted USD 1.1 Bn inflows, 45% higher over Q3 2023. Office segment drove over half of the investments in Q3 2024, followed by residential with 33% share. Domestic investments accounted for 44% of the total investments during the quarter. Chennai & Mumbai cumulatively attracted 57% of the inflows in Q3 2024. Sustained confidence in Indian economy continued to drive institutional investments into the real estate sector, reaching USD 4.7 billion during the first three quarters of 2024, almost at par with the corresponding period in 2023. Following significant inflows in the first two quarters, Q3 2024 too registered healthy investment inflow of about USD 1.1 billion, reflecting a 45% YoY growth.
DLF has emerged as the top real estate company in the 2024 GROHE-Hurun India Real Estate 100, with a valuation of INR 2,02,140 crore. Following DLF, Macrotech Developers holds the second position with a valuation of INR 1,36,730 crore, and Indian Hotels Company ranks third with INR 79,150 crore. Among the top 10 companies, 60% are headquartered in Mumbai, while two are based in Bengaluru and one each in Gurugram and Ahmedabad.