Creating the Future: Guiding Indian Real Estate in the Direction of Sustainable Growth

To turn Indian real estate into a sustainable success story, everyone involved must work together. In addition to promoting cultural diversity, economic stability, and enhanced living standards, this endeavor also entails protecting the environment. 

One of the main pillars of the Indian economy, the real estate industry, is undergoing a dramatic transformation. The demand for residential and commercial spaces is increasing as urbanization accelerates, with projections showing that 40% of India’s population will live in urban areas by 2030. Although this growth is encouraging, it also brings with it the urgent need to find a way to reconcile social responsibility, environmental sustainability, and economic growth. This issue is not specific to India; it is a problem that faces all countries as they work to establish fair, future-proof development models. 

The Foundations of Ecological Infrastructure

The core of India’s real estate revolution is the shift to sustainable infrastructure. It involves a paradigm change away from traditional building techniques and toward tactics incorporating green building materials, energy-efficient designs, and eco-friendly practices. The market has enormous potential to promote sustainable practices because it could grow to a $1 trillion industry by 2030. 

Leading the way are projects like Godrej Garden City in Ahmedabad and Mahindra World City in Chennai, which demonstrate how incorporating solar power and rainwater harvesting can lower environmental impact while enhancing quality of life. But the problem goes beyond specific initiatives and includes more general issues like waste management, air pollution, and water scarcity. Establishing a new benchmark for the sector, the Indian Green Building Council (IGBC) is instrumental in advancing sustainable practices throughout the lifecycle of building projects.  

Technology and Innovation: The Way Ahead 

The real estate industry in India is evolving primarily due to innovation and technology. Intelligent building technologies, sustainable construction practices, and renewable energy systems are imperative. Using 3D printing to build affordable homes in Noida is an excellent example of how technological advancements can reduce costs and improve sustainability in the building industry. 

Smart cities, like Gujarat’s Dholera, are redefining urban living by combining e-governance, digital infrastructure, and citizen participation. Building management systems incorporating IoT devices, intelligent sensors, and big data analytics is a significant step toward creating more waste-free, efficient, and health-promoting structures. One of the main projects in Ayodhya’s Vedic City Sustainability Index is a ground-breaking idea that uses the UN Sustainable Development Goals to assist policymakers in balancing quality of life and infrastructure planning. 

Cooperation in Support of Sustainable Growth

Real estate sustainable development necessitates a multisectoral strategy. Encouraging private-sector investment in green buildings and infrastructure requires public-private partnerships, government incentives, and regulatory frameworks. This cooperative effort must involve civil society alongside the government and corporate sectors to guarantee that developments meet higher social and environmental goals.  

Community Engagement and Inclusivity 

The real estate industry needs to put inclusivity first to grow sustainably. It includes creating affordable housing, guaranteeing access to necessary services, and establishing public areas that foster social cohesiveness. Incorporating local communities into the development process ensures projects align with the needs and preferences of the populace, thereby cultivating a shared dedication to sustainability.  

Raising Awareness and Developing a Sustainable Culture 

Education and awareness are also essential for a sustainable real estate industry. The initiatives vary from offering specialized training to real estate and construction professionals to integrating sustainability into school curricula. Such educational initiatives are essential to developing a sustainable culture in the sector. 

Overcoming Obstacles: A Coordinated Method 

There are many challenges in sustainable real estate, such as budgetary constraints, legal barriers, and cultural opposition. It requires collaboration from all stakeholders, a well-coordinated approach, and supportive legislation. Clever funding solutions are also necessary. 

A Request for Action 

It will take cooperation from all parties to make Indian real estate a sustainable model. This path includes preserving the environment by promoting social inclusion, economic stability, and improved quality of life. Collaboration, innovation, and a dedication to sustainable practices will be critical as the industry develops. 

The time to act is now. We must unite in our commitment to sustainable growth to lay the foundation for a future in which Indian real estate drives national development and sets a global standard for sustainability. Let us embark on this historic journey together to build an inclusive and sustainable future for Indian real estate, one project at a time.  

MAHARERA Cancels 13,785 Real Estate Agents’ Registrations

The Maharashtra Real Estate Regulatory Authority (MAHARERA) took a significant step and revoked the registrations of 13,785 real estate agents. This ruling demonstrates the authority’s dedication to upholding integrity in the real estate industry and enforcing regulatory compliance. 

The reason for the cancellation of registrations is that the individuals did not follow the regulations and did not behave professionally and ethically. To protect the interests of stakeholders and homebuyers, MAHARERA has taken strict action to enforce accountability and transparency in real estate transactions. 

A wide range of real estate agents in Maharashtra have had their registrations revoked, underscoring the authority’s proactive stance in resolving non-compliance issues within the sector. Enforcement actions by MAHARERA function as a disincentive to unscrupulous practices and emphasize the significance of conformity to regulatory standards.

Deactivating registrations creates a ripple effect in the real estate market, making things more transparent and accountable for buyers and sellers. It highlights how vital regulatory supervision is to maintaining moral behavior and just business practices in the sector. 

Stakeholders expect increased trust and confidence in the real estate market as long as MAHARERA maintains regulatory standards and monitors compliance. By acting decisively, the authority sets a clear precedent that failure to comply is unacceptable, encouraging a culture of professionalism and integrity within the industry.

Mumbai has had the fastest coworking space rental growth since FY20, at 27%.

Mumbai has seen an increase in coworking average monthly rentals over the last four years, at 27%, followed by Gurgaon at 19%, per a recent MyHQ by Anarock report. 

According to a recent MyHQ by Anarock report, Mumbai has seen an average monthly rental growth for coworking spaces over the past four years (27%), followed by Gurgaon (19%). 

The report encompasses six towns: Bengaluru, Delhi, Mumbai, Gurgaon, and Noida.  

In Mumbai, the average monthly rental cost for a flex space seat was Rs 15,900 in FY 2024 compared to Rs 12,500 in FY 2020. 

Gurgaon saw a 19% increase in that period, going from roughly Rs 8,500 per month per seat in FY2020 to roughly Rs 10,100 per month per seat in FY2024. Rentals for Delhi’s flexible workspace increased by 18% between FY2020 and FY2024, going from Rs 10,000 to roughly Rs 11,800 per space per month.  

The average monthly rent for flexible spaces in Bengaluru increased from Rs 7,800 per seat in FY2020 to Rs 9,000 per seat in FY2024, representing a 15% increase. According to the report, the average monthly rental price of flex spaces in Noida increased by 14% over the previous four years, from Rs 6,500 per seat in FY2020 to Rs 7,400 per seat in FY2024. 

“In recent years, the Asia-Pacific area has become a significant market for coworking spaces, and demand is rising quickly. Japan, China, India, and Hong Kong are a few of the major cities that are experiencing rapid expansion. According to Utkarsh Kawatra, Senior Director of myHQ by ANAROCK,” India, as a hotbed for startups across various sectors and industries, is witnessing a steady demand for flexible, economical workspaces.” 

In the current fiscal year, coworking accounted for 18% of the office supply in the top seven cities’ office leasing market. A report by MyHQ by Anarock estimates that the flexible office real estate market will grow from 55 million square feet to 100 million square feet by 2030. 

Financial support for the coworking space has also been encouraging, with more funding coming in after COVID-19 than before. 

An average coworking space of 20,000 square feet can fetch an internal rate of return of 40-70%.  According to the report, up to 70% of businesses  use a hybrid work style. 

According to two out of three industry experts, by 2030, coworking spaces will become more in demand than traditional office spaces. Opening coworking spaces is another move by hotels and food and beverage establishments to increase revenue from their daytime unsold inventory. 

In various areas of Delhi, DDA provides over 600 apartments at discounts of 15 and 25 percent.

445 of the 656 apartments for sale are 2 BHK MIG apartments, and 211 are 1BHK LIG apartments. 2 BHK apartments in Narela typically cost between Rs 1 crore and Rs 1.02 crore, but after discounts, these units will only cost between Rs 75 lakh and Rs 87 lakh. 

Registration for the more than 600 apartments in various categories that the Delhi Development Authority (DDA) has floated began on March 14, 2024, according to officials with knowledge of the situation. Prices for the apartments will vary between fifteen and twenty-five percent. 

In addition, the Authority listed 1042 apartments in the lower income group (LIG) and higher income group (HIG) categories for sale at the previous rates. 

According to officials, these two deals are a part of the Diwali Special Housing Scheme 2023, which is currently in progress and will sell apartments gradually. These apartments will be distributed according to the first come, first served (FCFS) rule. 

According to a senior DDA official, the scheme offers flats at discounts of 15 and 25 percent for various categories, including the middle-income group (MIG) and lower-income group (LIG). 

“Narela and Ramgarh Colony, which are close to Jahangirpuri, are the locations of these discounted 2BHK and 1BHK apartments. We are giving the general public a 15 percent discount and all government employees— including those in the federal, state, and local governments, autonomous organizations, PSUs, and DDA— a 25 percent price reduction,” the unnamed official stated. 

The official went on to say that the goal of the action is to increase sales of mid-segment and affordable homes by clearing out inventory. 

445 of the 656 apartments for sale are 2 BHK MIG units, and 211 are 1 BHK LIG units. After a discount, 2 BHK apartments in Narela will be available for between Rs 75 lakh and Rs 87 lakh, compared to their usual price range of Rs 1 crore to Rs 1.02 crore. 

Similarly, the prices of LIG flats range from Rs 15.3 lakh to Rs 16.9 lakh, but after a discount, these flats will be available for Rs 13.1 lakh to Rs 14.5 lakh. 

Furthermore, the 1042 apartments in Jasola, Siraspur, Rohini, and Loknayakpuram will be available at the previous prices. The remaining 1034 apartments in Jasola fall into the 1 BHK LIG category; only 8 HIG flats (3 BHK) are available under the scheme. 

445 of the 656 apartments for sale are 2 BHK MIG units, and 211 are 1 BHK LIG units. 2 BHK apartments in Narela typically cost Rs 1 crore and Rs 1.02 crore, but after discounts, these units will only cost between Rs. 75 lakh and Rs. 87 lakh. 

Similarly, LIG apartments have a price range of Rs 15.3 lakh to Rs 16.9 lakh; however, after a discount, these apartments will only cost Rs 13.1 lakh and Rs 14.5 lakh. 

In addition, the 1042 flats in Jasola, Rohini, Siraspur, and Loknayapuram are available at previous rates. The scheme only offers 8 HIG flats (3 BHK) in Jasola; the remaining 1034 apartments fall into the 1 BHK LIG category.  

These apartments have prices ranging from Rs 14 lakh to Rs 2.18 crore. According to officials, all these apartments are available on an FCFS basis. 

77% of foreign real estate investments in India between 2019 and 2023: report

A report released on Wednesday stated that between 2019 and 2023, foreign inflows accounted for 77% of all institutional investment in Indian real estate, indicating “continuing confidence” in the industry.  

According to real estate consultancy Colliers, the average yearly total investment in that period was $ 5.1 billion (see 2024 Investor Insights—Country Spotlight Series’ report). Four billion dollars came from outside sources. 

Managing director of Colliers India’s Capital Markets & Investment Services, Piyush Gupta, stated, “Global investors have always remained at the forefront and consistently infused an average of $4 billion annually in the last five years, showcasing continued commitment and confidence towards the sector.” With an average inflow of $2 billion, the office sector saw the highest. 

The alternatives sector is worth $0.5 billion, with the remaining sectors being residential, mixed-use, industrial, and logistics, each worth $0.4 billion.  

“Residential, industrial, and alternative properties are likely to witness renewed interest, even though income-yielding office assets continue to enjoy strong preference,” the report stated.

The top two investors in Indian real estate are the United States and Canada, and interest from Asia–Pacific (APAC) nations like Singapore, Hong Kong, South Korea, and Japan is growing.   

According to the data in the report, inflows into Indian real estate from APAC doubled to $1.8 billion in 2023 from $0.9 billion in 2019. The region brought in 41.1 billion in 2022 but only $57% of the amount in 2023. 

APAC nations are interested in residential, industrial, and warehousing assets and invest 70% of their money in office space in India. 

Due to strong demand and a favorable business climate, India’s real estate market “witnessed increased activity” in 2024. “Security about the policy environment, closing the gap between buyers and sellers, and investor intent to deploy more capital across real estate asset classes are some of the causes why heightened activity is predicted,” the report stated. 

Wish to live next door to Amitabh Bachchan? Your chance to purchase a 3,000-square-foot property close to Jalsa

The auction’s managing bank, Deutsche Bank, has set the starting price at Rs 25 crore. 

For those interested, it might be feasible to reside next door to Bollywood star Amitabh Bachchan. Nevertheless, the cost is high.

A bungalow close to Bachchan’s renowned home, Jalsa, within Mumbai’s upscale Juhu area will soon go up for auction. Deutsche Bank has set the starting price at Rs 25 crore. The auction is scheduled for March 27 and will include over 3,000 square feet of indoor and outdoor space, according to Moneycontrol

Segmentation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) of 2002 applies to this sale. The bank had demanded repayment of the Rs 12.89 crore debt from Seven Star Satellite Pvt. Ltd. and other borrowers and co-borrowers. 

The bank put the property up for auction after they couldn’t make the required payments. The bank requests that potential buyers provide an earnest money deposit (EMD) of Rs 2.50 crore.  

Purchasing a home at a bank auction carries risks. 

People frequently believe that properties sold at auction by banks are free of legal problems. However, the notice typically states that the bank considers the property to be in good condition. It shall not, however, be liable for any unreported legal matters or subsequent claims brought by outside parties.

When selling properties at auction, legalese expressions like “as is where is” and “whatever there is” are there. These demonstrate that every potential encumbrance is legal and physical in the price. 

Any issues that arise after the property is sold during auction belong to the buyer. According to experts, buyers may discover that a court order opposing the bank’s auction or that the property is involved in legal disputes. Furthermore, it is possible that banks only own the property on paper. Therefore, the former owner may still be residing there. 

Before bidding, it is essential to review each aspect carefully. Banks have information about the properties and provide advance notice of online auctions. It is not wise to take the Bank’s words at face value. Your new property may be co-owned by someone else, in which case the bank is unlikely to assist you. 

Gurgaon’s Signature Global real estate developer will deliver 17 million square feet by the end of FY 26

These units, launched in Gurgaon and Sohna in 2021-2022, are all in the mid-segment and affordable category. The revenue recognition for these projects is Rs 11,000 crore. 

According to a top company executive who spoke to Moneycontrol, listed real estate developer Signature Global will finish and deliver over 17 million square feet of space in its 28 distinct projects across the Gurgaon and Sohna regions by the financial year 2025-2026 with potential revenue of Rs 11,000 crore. These will all be affordable, mid-segment units that will go on sale in 2021-2022. 

According to Signature Global’s Chairman and Whole-Time Director, Pradeep Aggarwal, these initiatives are underway in Gurgaon and nearby suburbs like Sohna.  

“By FY 2025-2026, we hope to deliver and finish these 17 million square foot projects. The revenue recognition for these projects is Rs 11,000 crore. We plan to begin completing these projects in 2025. According to Aggarwal, Moneycontrol, “The projects are a mix of mid-segment and affordable categories in a ratio of 70:30.”

According to him, the mid-income segment apartments at Signature Global start at Rs 1 crore, while the affordable category flats begin at Rs 25-30 lakh.

Twenty-eight projects -23 residential and five commercial and retail — are scheduled for completion by 2026, according to data provided by Signature Global. Of the twenty-three housing projects, eight are in the Gurgaon mid-income category, six are in the Sohna mid-income category, and nine are in the affordable segment.

218.5 acres of land in Sohna and Gurgaon are part of the overall development. These projects will likely require a total investment between Rs 7,500 and Rs 8,000 crore.

In addition, Signature Global intends to introduce new projects with a top line of between Rs 10,000 and Rs 12,000 crore in the upcoming fiscal year and 10 million square feet of saleable space. Agarwal says the company will develop ten million square feet of land in the next fiscal year.

“The new launches will comprise three projects, which will come up in Gurgaon sectors 71, 84, and Sohna region of the district. These will be premium projects with a ticket size starting from around Rs 3 crore,” he said.  

According to Aggarwal, these projects will require an investment of about Rs 6,500 crore, including the cost of the land, with an estimated top line of about Rs 12,000 crore. 

In an attempt to raise Rs 730 crore, Signature Global successfully conducted its first public offering in September 2023. 11.88 times as many shares as there were in the public offering, which included an Offer for Sale (OFS) for Rs 1277 crore and a new issue of shares valued at Rs 603 crore.

Signature Global has supplied ana rea of 6.7 million square feet through December 2023. In addition to the 16.9 million square feet it is now developing, there are another 28.4 million square feet of potential saleable space in the works.

Due to increased revenue, the real estate company reported a combined net profit of Rs 2.17 crore for the quarter that ended in December. During the comparable period in 2017, the company reported a net loss of Rs 44.89 crore.  

MahaRERA reports that the success rate of agreements between developers and homebuyers is approximately 50%

The RERA Act mandates that MahaRERA provide a forum for consumer or promoter associations to establish dispute resolution to promote the peaceful resolution of conflicts between developers and homebuyers. 

The success rate of MahaRERA’s conciliations in settling disputes between real estate developers and homebuyers was 35 to 50 percent. Data given to MahaRERA indicates that approximately half of them proceed with hearings following the failure of conciliation. 

According to MahaRERA’s data, since the conciliation forum’s establishment in 2018, the organization has handled over 1,200 cases. 

“The conciliation process is going well, with a 35-50% sensation. As things are closed, it is much faster, and there are no more appeals. We do handle cases that go back to us. Ajoy Mehta, Chairman of MahaRERA, told Moneycontrol 50% of the cases, which is a respectable rate. 

Of the 1,231 conciliation cases handled, 1,061 have been settled, and 170 are still pending. However, according to MahaRERA, the success rate of conciliation is between 35% and 50%. 

Conciliation forum

As per the Real Estate (Regulation and Development) Act, 2016, Section 32 (g), MahaRERA must allow developers and homebuyers to settle their disputes amicably using dispute resolution forums established by the promoter or consumer associations. 

The forum consists of promoters’ association representatives from Mumbai Grahak Panchayat. This forum handles disputes between developers and homebuyers resulting from the RERA Act. 

It occurs following the buyer’s registration with the conciliation forum. The MahaRERA conciliation forum holds hearings after the developers approve the request to resolve conflicts. 

Homebuyers can file a complaint with MahaRERA if the developers refuse to participate in conciliation. If a developer or homebuyer fails to comply with the terms of the agreement reached at the conciliation forum, the aggrieved party may choose to complain with MahaRERA. 


The MahaRERA has received 24,379 complaints from homebuyers against developers, or vice versa; orders have been in more than 16,474 cases from Maharashtra.

Ways to raise the rate of success?  

Members of the conciliation forum assert that party-centricity is the cornerstone of any mediation or conciliation process, and the success rate will only rise when all parties involved approach the process with a settlement mindset. 

“A conciliator functions as a mediator, and for there to be a settlement, all parties must cooperate. According to Hitesh Thakkar, a partner at Prem Group and conciliator of the MahaRERA conciliator forum on behalf of NAREDCO, the apex body of developers, “the hearings at the forum do not happen on merits, and all concerned parties have to come with that mindset considering the success of conciliation is also depending on that.”  

To construct a housing project worth Rs 1,700 crore, Mahindra Lifespace purchases a 9.4-acre plot of land in Bengaluru

According to the report, the land’s potential gross development value is Rs 1,700 crore, with 1.2 million (12 lakh) square feet of FSI, mainly consisting of mid-premium residential projects. 

Mahindra Lifespace Developers Ltd., a real estate company, announced on Tuesday that it had purchased 9.4 acres of land in Bengaluru to build a housing complex that would bring in an estimated Rs. 1,700 crore. 

The Mahindra Group, a business conglomerate, announced via a regulatory filing that it has acquired 9.4 acres of land in Whitefield, Bengaluru. It also stated that the land would primarily consist of mid-premium residential apartments with a gross development value of approximately Rs 1,700 crore and approximately 1.2 million (12 lakh) square feet of FSI potential. 

Bengaluru is still a target for Mahindra Lifespace Developers, and we are eager to increase our presence there, according to Managing Director and CEO Amit Kumar Sinha. It is consistent with our plan to strengthen our position in India’s growing cities, especially in the areas that are important to us. In response to the dynamic demands of Bengaluru’s home buyers — who have demonstrated an eagerness to recognize and purchase high-quality projects– he stated that the company remains to deliver top-notch projects.  

Mahindra Lifespaces anticipates starting the project’s first phase in the next 12 months. The company’s development portfolio includes seven Indian cities and 35.06 million square feet is finished, ongoing, and upcoming residential projects. Additionally, it manages and develops more than 5,000 acres of current and future projects at its four integrated developments and industrial clusters.  

Investors flock to Coimbatore as the residential real estate market outperforms Tier-1 cities.

Relying on its industrial and economic growth, Coimbatore has become one of the leading real estate development stories. Investment appeal has increased due to significant strategic projects like defense industrial parks, airport expansion, bypass institutions, and IT development. The recent floods in places like Chennai and Thoothukudi have accelerated the city’s transformation into a real estate hub as investors’ attention has shifted from major cities to Tier 2 cities. Coimbatore is a safer and more promising place to invest because of its pleasant climate and quality of life.  

The investment hub

Due mainly to its variety of real estate options, which include both residential and commercial spaces, Coimbatore is becoming an increasingly attractive destination for real estate investors. In particular, there has been a spike in activity and investments in real estate projects in Coimbatore Western Bypass. Due mainly to its variety of real estate options, which include both residential and commercial spaces, Coimbatore is becoming an increasingly attractive destination for real estate investors. In particular, there has been a spike in activity and investments in real estate projects in Coimbatore Western Bypass. This trend is because Coimbatore attracts investors looking for growth and value in the real estate industry because of the city’s lower costs relative to larger cities and the substantial returns these investments can produce. 

Real Estate Property Value Appreciation 

Coimbatore’s land value has been rising, indicative of the city’s increasing economic vitality, potential as an IT hub, and allure as an investment destination. Near Coimbatore, neighborhoods like Kovaipudhur, Edayapalayam, Chinnamettupalayam, Vellakinar, Thudiyalur, Palathurai Road, Nanjundapuram, are becoming more well-known for their tranquil surroundings that are suitable for residential development and have more room for appreciation in the future.  

This course is seeing a new age of change in the residential real estate market, with advanced types of living spaces like plotted development communities. 

The surrounding “Tier 2” areas of Coimbatore also experience significant growth in light of the city’s real estate boom, demonstrating the positive spillover effect of the city’s success. Because of its proximity to Coimbatore’s thriving market and warm weather, Kovaipudhur, for example, has recently become the hub for those looking for high-quality residential and commercial investment opportunities. This growth points to a pattern in which urban overcrowding and the desire for quiet yet convenient living spaces in peripheral areas are more alluring due to their appreciation potential. 

The economic dynamism of Coimbatore, strategic development projects, and a growing number of foreign and domestic investments are driving the city’s real estate market, which will continue to grow as investors and end users alike find the city attractive due to its affordability and high return potential. 

In just five days, Casagrand Suncity smashes real estate records in Chennai by selling over 900 units

With its innovative township project, Casagrand Suncity, Casagrand has broken all previous records in the city’s real estate market. Nestled on the Kelambakkam- Vandalur road, Casagrand Suncity, Chennai’s most ambitious township project, has achieved a significant milestone by selling more than 900 units in just five days, demonstrating the unmatched demand for high-end real estate in the city. 

The project has the support of well-known actor Silambarasan, is based on Roman architecture, and covers 40 acres with more than 130 top-notch amenities, offering residents an unmatched and opulent lifestyle. The township, a city inside a city, provides its citizens with a vast array of opulent 2,3, and 4BHK apartments with many necessary amenities for a well-balanced combination of luxury, convenience, and sophistication. 

“Casagrand Suncity is not just a residential project; it is a lifestyle destination, bringing the idea of a city within a city,” stated K Ravichandran, Vice President of Marketing at Caagrand. With Casagrand Suncity’s success, Caagrand can maintain its standing as the area’s top real estate developer. Delivering creative and sustainable living solutions that improve the lives of its clients is still the company’s top priority.”

The residents of Casagrand Sucnity enjoy a wide variety of lifestyle options. Apart from its residential developments, this master-planned township features a charming 30-acre park with 10 acres of central landscaping and 3.5 acres of tropical forest. 

The 36-story Casagrand sun city’s Roman facade, massive domes, columns, pediments, and other Roman architectural elements represent a lavish and sophisticated living space for its occupants. Among the many features are a central basilica, two swimming pools, an Aquileia park, a picnic area, a Corinthian canal, a party terrace, and outdoor dining. 

Moreover, the property boasts Santa Clara, a luxurious clubhouse featuring a grand double-height lobby and amenities, ensuring residents a vibrant and fulfilling lifestyle within the community. 

Indian women prefer to invest in real estate, and their top preference is bigger homes

More Indian women than ever have the means to purchase their own homes. Women can now invest in real estate more easily thanks to reduced stamp taxes on homes registered in their names and unique housing loan programs. Women tend to favor apartments most in the price range of Rs 45 lakhs to 1.5 crores. 

Hyderabad: Women are choosing larger homes and real estate as their preferred investments as they gain financial independence. 57% of participating women homebuyers in an ANAROCK Survey released on International Women’s Day prefer 3 BHKs, indicating a clear preference trend for larger spaces, while 29% prefer 2 BHKs. 

64% of female respondents looking for a home will purchase mid-to premium-class housing (between Rs 45 lakh and Rs 1.5 crore). Surprisingly, 23% of respondents would buy luxury properties costing more than 1.5 crore. According to 71% of the women surveyed, ready-to-move-in or completed properties take less than six months.  

Women can now invest in real estate more easily thanks to reduced stamp taxes on homes registered in their names and unique housing loan programs. 

“Women today are not mere influencers in the home buying process, but independent decision makers who buy homes for either self-use or investment,” states Santosh Kumar, Vice Chairman of ANAROCK Group. As per the most recent ANAROCK Consumer Sentiment Survey, 78% of female buyers prefer to purchase homes for use, with 22% opting to do so as investments. The end-use-to-investment ratio was 74:26 in H2 2021.”

The survey also reveals that the preferred investment asset class, according to 61% of female respondents, is housing. Approximately 16% favor the stock market, while 14% choose gold. Women made up half of the 5,510 survey respondents in total. 

Notably, 3 BHKs are the most favored configurations for 57% of women respondents, followed by 29% of women home seekers voting for 2BHKs. Around 9% are looking for 4BHK homes. 

Regarding price ranges, approximately 36% of female respondents looking for a home prefer to purchase mid-segment properties (costing between Rs 45 and Rs 90 lakhs), with 28% choosing luxury properties costing between Rs 90 lakhs to Rs 1.5 crore. Just 20% of respondents would buy luxury properties that cost more than Rs 1.5 crore, while 23% are willing to settle for less expensive homes under Rs 45 lakhs. 

“A closer look indicates that only 15% of women respondents prefer homes in newly launched projects, even though the survey finds that 24% of all polled home seekers currently prefer newly launched properties,” says Kumar.  

A staggering 71% of respondents will focus on homes that are either finished or set to finish in the upcoming six months. It suggests that most are purchasing for their immediate use.” 

Women’s empowerment has become a significant issue in India in recent years due to the many government initiatives to empower women. The most recent law that the Parliament passed was the Women’s Reservation Bill of 2023. 

In addition to the government’s flagship PMAY program, which prioritizes women’s homeownership, many independent urban women have entered the housing market to purchase homes.  

Because they want to feel secure and independent, more Indian women are purchasing their own homes, and an increasing proportion of single women are living alone in nuclear families. 

Indian real estate investment in the UAE and Europe soars amid high rental yields

Due to immigration schemes like the Golden Visa and appealing rental yields of more than 7%, Indian investments in foreign real estate, particularly in Europe and the United Arab Emirates, have increased dramatically, according to Propertywala. It’s happening at the same time the UAE’s real estate prices are growing at 16-19% annually. 

Investment in real estate

Indians sent out Rs 240.2 crore in December 2023 to buy real estate overseas, according to RBI data. Comparing this to Rs 206.8 crore during the same period last year, there was a noticeable increase. Similarly, FY23 saw remittances of Rs 2,714 crore, up 38% from Rs 1,961 crore in the previous year. 

Immovable property in the real estate market consists of factories, warehouses, residential buildings, and manufacturing spaces. 

The demand for real estate among European nations experiencing immigration are Greece, Cyprus, Malta, and Spain. 

According to Ritiesh Mehta, Senior Director at Jones Lang LaSalle, “the application process for Golden Visa programs takes about 3-4 months, with investors anticipating citizenship within 5-7 years,” Moneycontrol was informed by Mehta.  

Golden Visa offers residency or citizenship to individuals who invest in government bonds, real estate, or other approved vehicles. 

Rental Profits

India emerged as one of the top investors in Dubai, with cumulative investments of $335 million across 123 projects during the first half of 2023, according to data from the Dubai Land Department, as cited by international real estate consultant Vestian.

Depending on the location and size of the property, the average investment ticket size in Dubai is between Rs 4-4.5 crore, according to Property Junction consultant Vijay Sawlani, who works in Dubai. Generally, the rental yields fall between 7 and 9 percent; however, in desirable areas like Downtown or Business Bay, the short-term rental returns can reach 11 to 13 percent. 

A minimum investment of 2 million dirhams, or roughly Rs 4.5 crore, is required to obtain a Golden Visa for Dubai for five to ten years. 

“Property prices in Dubai’s newer emirates like Sharjah, Ras AI Khaimah, and Abu Dhabi range Rs 25,000-35,000 per square foot, which is more affordable,” Vijay Sawlani told Moneycontrol. “Property costs in upscale Mumbai neighborhoods like Andheri vary from Rs 38,000 to Rs 45,000 per square foot.  

According to Moneycontrol, rental yields in Sharjah and Abu Dhabi range from 6 to 8%, with Dubai offering the highest yields at 9 to 10%. 

Investing in Europe

 An investment of about Rs 4-8 core is needed to be eligible for permanent residency in countries like Greece, Cyprus, Malta, and Spain. According to Moneycontrol, these locations typically have a 4-5% rental yield. 

According to the study, entry-level investments in Europe range from Rs 2.5 crore in rural areas to Rs 8 crore in cities. One of the least expensive residency programs is available in Greece, where popular locations include Athens, Thessaloniki, Mykonos, and Santorini.  

High net worth individuals are the primary target market for other countries such as the US and UK, which have lower rental yields of 3.5-4% and require larger ticket sizes ranging from Rs 8 to 20 crore. 

According to a survey, Indian home prices will rise by 7% amidst the surge in luxury real estate.

A recent Reuters survey predicts that home prices in India will rise steadily by 7% this year and the following year, driven primarily by an increase in the purchase of luxury real estate.

The poll’s analysts emphasize the ongoing discrepancy between the supply and demand of affordable housing, a problem that will likely continue in the years to come.

The housing market has maintained its robust growth despite multiple interest rate hikes by the Reserve Bank of India between May 2022 and February 2023, thanks to the resilience of Asia’s third-largest economy. 

In 2023, the Indian housing market demonstrated remarkable resilience as home prices increased by 4.3 percent, the highest percentage increase since 2018. 

The Reserve Bank of India’s series of interest rate hikes has little effect on this growth trajectory. 

While rising housing costs are a positive indicator of a thriving market, they also exacerbate poverty and stagnant wages for those in lower socioeconomic groups. 

Aniket Dani, Director of Research at CRISIL Market Intelligence and Analytics, claims that high-net-worth individuals are the main force behind the recent spike in demand for luxury real estate. 

Developers are focusing more and more on starting high-end projects, which makes it harder for the affordable housing market to overcome obstacles.

Experts differ on solutions to concerns about the gap between supply and demand in the affordable housing market over the next two to three years.

There is disagreement over whether the gap will narrow or widen further, underscoring its persistent challenges.

The post-pandemic spike in high-income earners buying homes has driven prices up despite the Reserve Bank of India’s efforts to control inflation through interest rate increases. 

But prospects for interest rate reductions in the coming year are expected to improve affordability, which might help first-time homebuyers. 

Knight Frank India’s national director of research, Vivek Rathi, emphasized the possible effects of interest rate changes on demand dynamics and affordability. 

The survey predicts a noticeable increase in house prices in major cities like Bengaluru, Delhi, and Mumbai, with rises of 5.0 percent, 6.0 percent, and 9.0 percent anticipated for this year. 

These forecasts highlight how India’s real estate market is changing and how its various regions have different dynamics. 

Devastation Descended upon Noida as Real Estate Tycoon Pawan Bhadana’s death rattles Sector 93

The loss of real estate tycoon Pawan Bhadana has shocked New Delhi. His passing emphasizes how vital it is to raise awareness of mental health issues. 

Pawan Bhasana, a well-known real estate tycoon and Dream Land Builder, was found dead in his Sector 93, Noida Phase-2 home, giving New Delhi’s week a gloomy start. The community and industry are in shock after the awful event on Monday. Though more information is still pending, initial reports suggest that Bhadana’s extreme decision to take his own life may have been motivated by personal distress. 

Deciphering the Disaster 

The local authorities swiftly arrived at the scene to conduct the required investigations upon relieving the distress signal. Preliminary research indicates that Bhadana may have committed suicide as a result of prolonged, severe stress. The specific causes, however, are still unknown and are being investigated. Bhadana, renowned for making significant contributions to the Noida real estate market, has left a legacy of innovation and growth that has significantly impacted the regional economy and housing market. Bhadana, renowned for making significant contributions to the Noida real estate market, has left a legacy of innovation and growth that has significantly impacted the regional economy and housing market.  

Industry and Community Reaction 

The real estate sector, as well as the community at large, have expressed their condolences and tributes following the news of Bhadana’s passing. Coworkers, friends, and acquaintances have highlighted Bhasana’s professionalism, kindness, and commitment to his work in expressing their shock and sadness over the incident. Support for Bhadana’s family is overwhelming as word gets out, with many extending their condolences and helping hand during this trying time. 

Putting Mental Health First 

This tragic incident highlights how important mental health is, particularly for professionals in high-stress fields. It is a sobering reminder of the value of raising public awareness of mental health issues and the necessity of providing easily accessible support networks for those going through difficult times or depression. Considering this, we strongly advise anyone experiencing comparable issues to get assistance from mental health specialists or hotlines devoted to emotional support and suicide prevention. The resources that follow are available right away: 

  • AASRA: We Are Available To Assist: 91-9820466726 (Languages: English, Hindi, Available 24*7) 
  • Sanjeevani (Delhi): (Mon-Fri, 10 am-5:30 pm) 011-24311918, 011-24318883 
  • Fortis Stress Helpline (Delhi): 918376804102 

Pawan Bhadana’s untimely death is a tragic reminder of the challenges and pressures people face in the fast-paced world of real estate and business. While the community grieves, it is imperative to emphasize the importance of mental health support and the resources available for those in need. Bhadana’s contribution to societal development and his legacy in real estate will come to light as efforts to address the underlying causes of these tragic outcomes intensify. 

Global capital markets director Harry Rogers joins Knight Frank India.

Shishir Baijal, Chairman of Knight Frank, emphasized the importance of Rogers’ appointment regarding the new hire when India’s real estate market is flourishing. 

Harry Chaplin Rogers has joined Knight Frank India as the director of International Capital Markets, the real estate consulting firm announced on Monday. It will be entrusted to Rogers to spearhead the company’s efforts to assist local and foreign clients in locating investment opportunities in the Indian real estate capital markets. According to a press release from the company, “He will play a critical role in connecting offshore capital requirements with the Indian real estate client base.” 

Rogers will work with clients from the beginning of the transaction, investigating different funding options up to the capital stack. According to the company, Knight Frank’s global capital markets network combines the strengths of Knight Frank and Berkadia, a top US capital advisory firm owned by Berkshire Hathaway and Jefferies. 

In response to his appointment, what did Harry Rogers say? 

Rogers praised India’s stable economy as a growth accelerator and described his appointment as an exciting opportunity. “Being one of the world’s most stable economies with consistently high growth rates, the Indian real estate market offers an exciting opportunity for domestic  and global funds.” A robust mid-to long-term economic outlook, coupled with recent growth in office, warehousing, logistics, and other core and non-core sectors, presents many reasons for global and domestic investors to support investments in India. “I am excited to be joining Knight Frank, a truly global business with an unmatched track record spanning more than a century,” he said. 

According to the company, Rogers’ responsibilities include transaction structuring for offshore investors and Indian investment managers. Frank is eager to gain from Rogers’ expertise in global markets, especially in London. Knight Frank stated, “Among his responsibilities were leading transactions involving residential and commercial assets, personally helping his company to transact on deals worth over $300 million in the last three years.”

Concerning the most recent addition, what did Knight Frank say?

Regarding the new hire, Knight Frank Chairman Shishir Baijal emphasized the importance of Rogers’ appointment during a period of expansion for the Indian real estate industry. “India’s economy is expanding at one of the fastest rates in the world, and by 2030, it will continue to rank third in terms of GDP. It is becoming increasingly known as a desirable place to invest for foreign and domestic investors because of its strong domestic demand, long-term economic stability, and extensive infrastructure development. Following the COVID-19 pandemic, investors are inclined to diversify their portfolios to mitigate risk. India presents a good chance in this situation because of its solid foundation. He remarked, “I am excited to work with Harry to demonstrate to international investors the possibilities of investing in India.

What is the better long-term real estate stock to choose between Godrej Properties and DLF?

With the real estate index plunging 125% over the last year, the market has experienced a notable upswing. It is possible to attribute this surge to high pre-sales numbers. In this context, let us compare the stocks of Godrej Properties and DLF to see which offers better long-term investment prospects. 

The real estate market has experienced a notable upswing in the last year, as evidenced by the realty index’s explosion of over 125 percent. Excellent pre-sales numbers from real estate companies are responsible for this increase. Real estate companies’ stock prices have stayed high, partly because they announced upcoming projects, encouraging pre-sales numbers and market expansion. 

In this context, let us compare the real estate stocks of Godrej Properties (GPL) and DLF to see which offers better long-term investment prospects. 

Trend of Stock Prices

To date this year, DLF and Godrej Properties have outperformed the benchmark. GPL has increased by 24% in 2024 YTD, compared to DLF’s nearly 29% increase. In contrast, Nifty has grown by 3%, while the Nifty Realty index has increased by more than 18%. 

Thus far in 2024, both stocks have produced positive returns in both months. DLF increased by 13 percent in February, bringing its winning streak to six months. In January, it increased by 9.7%. GPL saw gains for the fifth month in a row, adding 1.2 percent in February. It increased by about 18% in January. 

Meanwhile, DLF and GPL have produced multi-bagger returns over the past year. While GPL has increased by 114 percent, DLF has grown by over 159 percent. Conversely, Nifty Realty has experienced a growth of more than 125%, whereas Nifty has grown by more than 27%. In intraday transactions today, March 4, DLF and Godrej Properties reached their 52-week highs. On March 14, 2023, DLF reached its one-year high of Rs 932, surging 177 percent from its 52-week low of Rs 336.50. GPL also reached its 52-week high of Rs 2,524, rising 151 percent from its March 29, 2023, 52-week low of Rs 1,005. 

Meanwhile, DLF has come out on top over the next three years. While GPL is up just  67 percent, the stock has returned 194%. 


Due to increased revenue and decreased expenses, DLF reported a 27% increase in consolidated net profit to Rs 655.71 crore for the December quarter. Its net profit for the previous year was Rs 517.94 crore. In the October – December quarter of the 2023-24 fiscal year, total consolidated income increased to Rs 1,643.51 core from Rs 1,59 crore during the same period the previous year. Thanks to several launches throughout the quarter, DLF, the big real estate player by market capitalization, recorded its highest quarterly sales booking of Rs 9,047 crore. In addition to generating Rs 1,108 crore in operating cash, the company reported strong liquidity. 

In contrast, Godrej Properties’ net profit in Q3FY24 increased 6% YoY to Rs 62.47 crore. Revenues for the company were Rs 330.44 crore, up 68.39 percent. In the December quarter of FY24, the company achieved its highest-ever pre-sales, totaling Rs 5,700 crore, a 76 percent increase over the prior year. Eight project launches between October and December helped the pre-sales and accounted for about 69% of the bookings. According to the company, bookings for the nine months that end on December 31, 2023, totaled Rs 13,000 crore, or 93% of the company’s goal for FY 24. 

Which real estate stock offers the best chances for long-term financial gains?

Director and senior technical analyst Shhersham Gupta of Rupeezy favors DLF over Godrej Properties. 

Godrej Properties and DLF have cooperated on several projects for the past year, resulting in excellent outcomes. But of the two, the DLF is the most promising due to its ambitious project launch pipeline. DLF plans to significantly increase its operating flows and profitability, with planned launches having a gross development value (GDV) of Rs 32,000 crore, representing considerably more than previous years’ figures. 

Conversely, SAMCO Securities research analyst Moorjani believes Godrej Properties is more suitable. 

Both DLF and Godrej Properties are currently selling at ridiculous prices. Therefore, even though current owners may decide to hang onto their shares, new investors should steer clear of these stocks. Godrej Properties recently reported its highest-ever quarterly sales bookings for the second consecutive quarter. When it acquired a 12.5-acre plot of land in Hyderabad with a massive 3,500 crore revenue potential, it also caused a stir. Furthermore, contrary to many others in the industry, Godrej Properties has reported growth in its profits and revenue. Godrej Properties is an excellent option for investors considering its financial performance and potential for growth.  

In the interim, international brokerage firm Jefferies has called for a “buy” position in both real estate stocks. Godrej Properties’ target price has increased to Rs 2,700 (from Rs 2,635), signifying a gain of more than 7%. Conversely, the brokerage has already surpassed its target of Rs 875 for DLF. With two consecutive record-breaking pre-sales quarters and a robust launch pipeline for the fourth quarter, Godrej Properties expects to see at least 50% more sales growth this year. Due to the lack of noteworthy project deliveries during the quarter, its revenue of Rs 330.44 crore was below expectations. Worli (MMR), Ashok Vihar (NCR), and Sarjapur (Bengaluru) are just a few of the projects that GPL has said are probably going to be delayed. According to Jefferies on GPL, the launch pipeline for 4QFY24 is still strong, excluding these projects. A 15-year high quarterly profit, an all-time high in pre-sales, and more than Rs 1000 crore in free cash flow generation were made public for DLF in Q3. Additionally, according to the brokerage, DLF’s updated project pipeline indicates that launches for FY24 have taken place, but the pipeline for FY25 and FY26 has been steadily growing. It also added that the lease performance remained stable, with an 8% YoY rental growth.   

Yet, CLSA has a “sell” call on both equities. 

Ultimately, buyers and sellers of real estate need to consider these divergent viewpoints and carry out their due diligence. 

Note: These are the opinions of individual analysts or brokerage firms; Propertywala does not endorse any of the ideas or opinions expressed above. Before making any investment decisions, we advise investors to consult with qualified specialists. 

UP’s real estate market will continue with investments of Rs 50,000 crore.

The state government stated on its website that these real estate projects, which include vital works in Noida, Ayodhya, were introduced during the just-finished ground-breaking ceremony in Lucknow.

The government of Uttar Pradesh announced on Thursday that the state would experience a boom in the real estate industry with the start of projects valued at over Rs 50,000 crore, which will also lead to the creation of many jobs for the state’s youth.

The state government said in a statement that these real estate projects, which include major construction in Noida and Ayodhya, were introduced during the just-finished ground-breaking ceremony in Lucknow. 

Numerous well-known real estate companies, both domestically and internationally, have started working on projects in Uttar Pradesh. M3M India Private Limited plays a role in the project, investing Rs 7,500 crore in building official, retail, residential, and service apartments. More than 14,000 jobs will be available through the project for the state’s youth, according to the statement. 

Additionally, it stated, “With an investment of Rs 3,000 crore, the House of Abhinandhan Lodha has initiated a luxury residential and commercial real estate project in Ayodhya, which is to create over 1,000 job opportunities.”

In addition to Omex, Prateek Retailers India, Wonder Cement, Shipra Estate, Rishita Developers, Gallant Lifespace Developers, ANS Developers, SG Estate, ORO Infra Developers LLP, Guy Laroche, Sanfran Developers, Janico Developers, Apex Group, BBD Group Viraj Constructions, Gajadhar Technosys LLP, Amamrvati Homes, Nilansh Builders, and Sapphies Infrastructures LLP are among the other significant investors in real estate sector, according to the statement.  

“These real estate projects will provide Uttar Pradesh’s youth with numerous employment opportunities,” the government declared.

The government, noting that several well-known companies have implemented projects in the state through GBC 4.0, is optimistic about the logistics sector providing plenty of job opportunities to the youth of Uttar Pradesh in addition to real estate. 

The Sharaf Group is the largest investor, contributing over Rs 1,250 crore towards building a logistics park in the Moradabad district. According to the release, the project will generate more than 1,250 job opportunities in the state. 

According to the statement, the government approved the Warehousing and Logistics Policy to increase the state’s storage capacity in light of rising industrial investment in Uttar Pradesh.  

It also stated, “This policy encouraged the development of logistics zones and provided fast-track land allocation for logistics parks.” 

Five things to be aware of in the Bengaluru real estate market if you intend to rent an apartment there

Thirty percent rent increases in specific parts of Bengaluru have caused the city’s rental inflation to exceed that of Singapore. 

Over the last few months, rent in Bengaluru has risen by over 20% to 30% due to several companies abandoning work-from-home policies, which has caused the “floating” employee population to return to their offices from their hometowns. As a result, there are right now far too many renters vying for a limited number of properties. Additionally, there have been cases where over four potential tenants have competed for the same property. Due to this, the IT city’s rental inflation has reached nearly 24%, making it competitive with other major cities like Singapore. 

Tenants in a city bereft of rental properties have been finding it difficult to comply with landlords’ constantly shifting demands; some have even gone so far as to look up potential tenants’ LinkedIn profiles. Additionally, there have been cases where real estate agents have given tenants have even jokingly said that it is harder to pass a “rental” interview than it is to pass a job interview. 

India’s average rental inflation rate now exceeds that of Singapore and Dubai. In Singapore, the average annual rental inflation has been approximately 29%, while in Dubai, it has been 20%. According to a NoBroker study, certain areas of large cities, like Bengaluru, are seeing exponential rent increases of 30% and higher. 

According to a report by Anarock Group, residential rent in India’s IT hub has increased by as much as 31%. “Rents will rekindle in the January to March 2024 rental market as Indians typically relocate in search of better job opportunities and amid increased hiring in the new fiscal year,” the report stated. 

The opening of Bengaluru offices has significantly increased demand for real estate near IT parks and office clusters. Additionally, there is a rise in demand for homes along these connectors as the new metro corridor comes online.

Properties near metro stations in the IT city have seen a 15-18% increase in rent due to increased demand. 

“Over the past year, Bengaluru has seen a sharp increase in housing rentals. According to Akhil Gupta, co-founder and chief executive and technology officer of NoBroker, “the average rent inflation to the IT capital has been 24%, with rent inflation reaching 30% in certain parts of the city.

A further trend is an increase in demand for rentals in areas that are accessible by metro but are not always close to office buildings.  

The mandate requiring employees to return to their workplaces has resulted in a notable departure of individuals, thereby augmenting the need for residential real estate. The need to purchase a home and the pandemic’s effects on supply and demand have raised demand for residential properties. Rents and prices have increased as a result, according to Gupta. 

He also mentioned how Mumbai’s metro connectivity has led to rental prices that are significantly higher than those of most other cities. It would be unfair to compare Bengaluru to Mumbai or Delhi because of how better connected these cities’ metro areas are.  

Metro connectivity is highly beneficial, as the IT city is known for having a lot of traffic. According to our annual report, Bangalore has experienced the highest rate of rent inflation thus far this year. 

According to him, there has been a 7-10% increase in rental inflation in the areas close to the metro line. 

One notable connection is the Metro corridor, which runs from the western city of Kengeri to the eastern IT corridor of Whitefield. 

According to Kiran Kumar, vice president of Hanu Reddy  Realty in Bengaluru, rentals in East and North Bengaluru have increased dramatically since the Metro opened for business. Desirable areas like Whitefield, Koramangala, and Indiranagar along the purple line have seen a 20% increase in rental prices.

Previously renting for Rs 30,000 per month, a 2BHK next to the Indiranagar Metro corridor now fetches Rs 45,000. Rent for a 5BHK independent bungalow is Rs 3 lakh per month. Last year, the rent was approximately Rs 1.9 lakh per month. Compared to approximately 70,000 per month last year, a 3BHK in a gated community in the same area now commands rents between Rs 80,000 and Rs 1 lakh per month. A 1-BHK apartment without a parking lot for Rs 10,000 a month is now renting for Rs 22,000.

Rental prices have increased in areas along the metro corridor because of better metro connectivity between the east and the north. Because there are fewer properties than there is demand for them, people are willing to pay higher rent for properties near the Metro, according to him. 

In Whitefield (located close to the IT corridor) as well, a 3BHK is going for Rs 50,000 to Rs 70,000 per month, and a 3 BHK villa that was going for around Rs 80,000 before the metro became operational today commands a rent of around Rs 1.5 to almost 2 lakh, he told HT Digital.  

Are rent negotiations tough for tenants? 

Looking at the rental market, it is still more in demand than it is in supply. The goal of tenants in gated communities is to obtain lovely residences. Therefore, even at high rentals, there are still a lot of takers in gated communities. There is hardly any time for negotiations because deals are closing so quickly. Consequently, Gupta said, “There is always another tenant waiting, willing to pay higher, even though tenants may want to negotiate.”

Has the cycle of rental deal closure gotten longer or shorter? 

The inventory shortage has resulted in a significantly shorter transaction timeline. Deals have closed in as little as one day on occasion. Tenants are inspecting the property before the weekend even arrives, Gupta says.

New draft notification

Prospective tenants should be aware that the city’s governing body for civic and infrastructure, Bruhat Bengaluru Mahanagara Palik (BBMP), is getting ready to introduce a value-based property tax on April 1. Property owners may pay twice as much in taxes on rental properties under the new system as on owner-occupied properties. It could put more pressure on tenants’ high rents because of the mismatch between supply and demand. 

SC mandates that Lodha reimburse the homebuyer Rs 2.25 crore plus interest for the delivery delay.

The Supreme Court ruled on November 9, 2022, to overturn the order of the National Consumer Disputes Redressal Commission (NCDRC). The order also mandated that the developer repay the Rs 2.25 crore deposit within a year and pay simple interest at 12% annually. 

The Supreme Court has ordered Lodha Crown Buildmart, a division of the publicity, traded real estate company Macrotech Developers (Lodha), to reimburse a homebuyer for Rs 2.25 crore within a year and to add a 12 percent annual simple interest rate. The reimbursement relates to the purported hold-up in getting a 1,966-square-foot apartment bought in November 2013. 

Venkataraman Krishnamurthy paid Rs 7.55 crore for the 4-BHK apartment in the Lodha Evoq development in Wadala, Mumbai’s New Cuffe Parade. A homebuyer has paid Rs 2.25 crore per the payment schedule, with the remaining Rs 5.83 crore to arrive upon the start of fit-outs. 

The flat would be delivered to the buyer for fit-outs by June 30, 2016, or, with a grace period, by June 30, 2017, according to the agreement signed between the buyer and the developer. The buyer accused the developer of breaking the contract when they did not deliver the apartment by the deadline for fit-outs.  

The homebuyer approached the National Consumer Disputes Redressal Commission (NCDRC) and prayed for a refund of the amount paid with compound interest thereon at 18 percent per year, along with compensation for the harassment, mental agony, and torture suffered by them, apart from litigation costs. 

On November 9, 2022, the NCDRC resolved the consumer complaint from the homebuyers and directed the developer to give the unit its actual physical possession within three months. 

The NCDRC mandated the developer provide delay compensation in the form of simple interest at a rate of six percent annually on the total amount paid between June 30, 2016, the date of the commitment to take possession, and November 29, 2017, the date of the offer to take possession.

The NCDRC denied the buyer’s request for a refund, finding that the delay was not “unreasonable” and the buyer could still terminate the contract and seek a refund despite acknowledging that there was “some delay” in the developer giving the buyer possession of the apartment. 

Following that, the homeowner appealed the NCDRC order to the Supreme Court. 

According to a ruling by the Supreme Court on February 22, Clause 11.3 of the agreement stipulates that if the developer fails to deliver the apartment for fit-outs on time, they must notify the buyer within 30 days of the grace period ending. This notice must specify the updated date when the unit should be ready for possession and, if the buyer agrees, the contract extension. 

In its decision against  the NCDRC, the Supreme Court stated, “It was not for the NCDRC to rewrite the terms and conditions of the contract between the parties and apply it subjective criteria to determine the course of action to be adopted by either of them.” 

Without reservation, the Supreme Court that the NCDRC had overreached its jurisdiction and authority when it ignored the legally binding covenants in the agreement and used its logic and reasoning to decide what would be best for the parties and the homebuyers moving forward.    

The SC allowed the complaint, setting aside the NCDRC order dated November 9, 2022, and ordering the developer to reimburse the deposited amount of Rs 2.25 crore within a year, plus simple interest at 12 percent annually. This type of installment has a first installment due on April 5, 2024, and subsequent installments are due on the fifth of each calendar month until they are paid in full. 

The Gurugram real estate regulator fines a developer for running deceptive advertising

The policy is known as the Deen Dayal Awas Yojna (DDJAY) 2016 by the Authority, but the newspaper advertisement captions it as DDJAY 2024, which is “incorrect and misleading.” 

The Real Estate Regulatory Authority (RERA), Gurugram, has fined Yashvi Homes Pvt Ltd Rs 25 lakh for publishing a “misleading advertisement” of a real estate project under the state government scheme, Deen Dayal Jan Awas Yojna (DDJAY) 2016, in a mainstream daily. 

In a suo motu ruling, RERA Gurugram described the advertisement as “completely misleading.” Yashvi Homes is developing Golden Gate Residency, a residential project in Sector 3, Farukhnagar, Gurugram, under the DDJAY scheme. 

The policy is known as the Deen Dayal Awas Yojna (DDJAY) 2016, as per the Authority, but the newspaper advertisement captions it as DDJAY 2024, which is “incorrect and misleading.” 

The Authority stated that the promoter failed to supply the required project registration number and website address.

By Section 11(2) of the RERA Act of 2016, the promoter must prominently display the Authority’s web address in any advertisement or prospectus that it publishes. This website should contain all the information about the registered project that needs to be entered correctly, including the RERA registration number. 

The Authority spokesperson said, “The amenities promised in the advertisement do not correspond with the project’s approved layout plan submitted by the promoter at the time of registration does not include provisions for amenities like a school, clubhouse, swimming pool, badminton court, half basketball court, among others.” 

According to a spokesperson for the Authority, real estate promoters face legal action if they continue to use “misleading advertisements.” 

Examining the Patterns and Forecasts of Bengaluru’s Real Estate Renaissance

Bengaluru saw a 29% increase in housing sales, from 49,480 units in 2022 to 63,980 in 2023.  

Over the past few decades, Bengaluru—often known as India’s Silicon Valley— has seen a remarkable transformation in the residential real estate market. Numerous factors, including better infrastructure, supportive government policies, a rise in the supply of IT professionals, and urbanization, have contributed to this change.

Bengaluru saw a 29% increase in housing sales from 49,480 units in 2022 to 63,980 lots in 2023. Bengaluru’s rise as India’s center of technology lies at the core of the city’s residential real estate boom. However, it is also critical to remember that, in 2023, 23% of the sales momentum came from the premium and mid-market (INR 50-75 lakh) segments, respectively. 

The main rivers of demand were the growing return to work in the IT/ITeS sector, the expansion of global firms already in place, and the establishment of Global Capability Centers (GCCs). Moreover, the excellent supply that renowned developers brought in was a significant factor in the sales increases in many of these cities.  

The city has been a magnet for highly skilled professionals from all over the nation and abroad due to its reputation as an innovation hub, numerous research institutes, start-ups, and multinational corporations. This talent inflow has led to a strong demand for housing, especially near large IT parks and tech campuses, which has sparked a rush of construction activity in these sought-after locations.

Due to its reputation as a livable city that boasts pleasant weather, lush green spaces, and a vibrant cosmopolitan culture, Bengaluru has become even more appealing to prospective homebuyers. The city’s vibrant lifestyle, excellent educational opportunities, and numerous dining options appeal to individuals and families, making it a great place to settle down and raise a family. 

The growth of Bengaluru’s infrastructure has been essential to the city’s residential real estate growth. The city has made significant investments in the road and metro rail systems and other public transportation networks to improve accessibility and connectivity between different micro-markets. The development of satellite townships and growing suburbs that will satisfy the evolving needs and preferences of city dwellers has been made possible by this increased connectivity, which has also expanded the housing options available to residents. 

Government policies and initiatives have also played a significant role in speeding up the real estate boom in Bengaluru. To serve the wide range of socioeconomic strata that constitute a community, initiatives like Housing for All and the Smart City Mission have encouraged developers to invest in affordable housing projects. 

In addition, the Real Estate Regulation and Development Act (RERA) has increased investor and homebuyer confidence by ushering in a new era of transparency and accountability. 

A new paradigm in Bengaluru’s residential real estate market has emerged with the emergence of co-living and co-working spaces, which meet the growing needs of a dynamic workforce. 

The gig economy and flexible work arrangements are becoming increasingly common, which has increased demand for shared living and workspaces aimed toward young professionals and entrepreneurs. 

Developers have quickly capitalized on this trend by providing creative solutions that combine affordable housing with numerous amenities— from wellness centers and community events to high-speed internet connectivity—–redefining what is in a modern urban setting. 

In addition, the proliferation of financing alternatives has democratized homeownership by increasing its accessibility to a broad range of individuals. In addition to offering attractive home loan programs with competitive interest rates, banks, and other financial institutions have also fueled the growth momentum of the real estate industry with the introduction of alternative financing models like peer-to-peer lending and crowdfunding.  

But even amid all the excitement surrounding Bengaluru’s residential real estate boom, it is essential to recognize the difficulties that still lie ahead. There is an immediate need for sustainable urban planning and development in the city because of its issues with traffic congestion, urban sprawl, and environmental degradation. 

Onward, Bengaluru’s comeback in residential real estate is evidence of the city’s tenacity, inventiveness, and vibrancy. The real estate sector is a prime location for investment and growth due to the convergence of progressive policies, infrastructural development, economic dynamism, and changing lifestyle preferences. 

To address problems and seize opportunities as Bengaluru grows and transforms, stakeholders must collaborate in a coordinated manner to move the city toward a more inclusive and sustainable urban future. 

Why is the Mumbai real estate market witnessing a resurgence of the Buy Now, Pay Later model?

Experts claim there has been a recent decline in primary sales in the Mumbai real estate market. Additionally, due to an excess of inventory brought on by the rise in launches over the previous two years, developers have been pushing sales through these various initiatives. 

In the Mumbai real estate market and its environs, more and more builders are reintroducing “buy now, pay later” schemes, which let buyers pay only 10 or 20 percent of the total price up front and the remaining amount upon possession. These programs, which became popular during the 2015-2019 real estate slump, are designed to increase buyer confidence.  

Diminished demand? 

The Mumbai real estate market has seen a spike in launches and a rise in residential property sales over the past four years. 

The Maharashtra government’s announcement in January 2021, waiving half of the permission fees developers had to pay, is credited with this growth. Several developers have had flexible payment options or subsidy programs during the last six months. 

According to experts, this may be due to a decline in primary market real estate sales. Due to excess inventory from the increase in launches over the previous two years, developers have had to offer such schemes to boost sales. 

In the past few months, developers including Wadhwa, Runwal, Ambit, Raymond Realtors, Microtech Developers (Lodha), Keystone Realtors (Rustomjee Group), and Wadhwa have all introduced flexi-payment options. 

For instance, Lodha offers a 255 upfront payment option and a 75% payment option upon receipt of the occupation certificate (OC) for its Thane project. Like this, the Raymond group offers the option to pay 20% in advance and nothing at all until January 2025 in Thane. In November 2023, just in time for Diwali, several projects from the Rustomjee group had flexible payment options. 

Directly from the horse’s mouth

Reintroducing the 20:80 subvention scheme is a calculated move to draw in buyers and speed up inventory offtake, which will increase cash flow and lower carrying costs, according to Rajendra Sharma, Chairman and MD of Ambit Realtors and Developers. 

As a result, according to Navin Makhija, managing director of the company, the Wadhwa Group is providing subvention in projects where the OC is due in three to six months. 

Experts in real estate also credit increased competition for the revival of developer subsidy schemes in the Mumbai market. 

“Developers are forced to provide incentives to stand out and sustain sales momentum due to a high volume of launches. The real estate consultancy firm JLL India’s Ritesh Mehta, Senior Director and Head of West & North, Residential Services & Developer Initiatives, stated that the flexibility of staggered payments “aligns with developers’ robust cash flows post-Covid-19.” 

Listed companies comply with investor requests to release their pre-sales figures every quarter. To create cash flows, developers must rely on banks or find innovative ways to sell their property for less money. First-time homebuyer promises can be used as collateral by developers to secure bank loans, according to RK Mumbai Realtors’ Director Ravi Kewalramani. 

More launches 

The number of units introduced within Mumbai city limits climbed from 25,404 in 2020 to 52,771 in 2023, according to the Maharashtra Real Estate Regulatory Authority (MahaRERA). 

The Real Estate Regulatory Authority (RERA) may soon receive clarification on tax exemptions from the GST Council.

According to an official, the Goods and Services Tax (GST) Council plans to provide clarification shortly that the Real Estate Regulatory Authority (RERA) will not be obliged to pay the GST.  

The official argues that Article 243G of the Constitution, which addresses the responsibilities, authority, and powers of panchayats, applies to RERA, which acts as both a regulator and a facilitator for the real estate sector. 

To safeguard consumer interests, promote transparency in real estate projects, and create a fast-moving dispute resolution process, several states established RERA.

According to the official, it has come to light that RERA employees are exempt from GST due to discussions regarding the nature of their roles. 

The official went on to say that since state governments fund RERAs, charging GST would essentially be taxing those governments. 

The Model Code of Conduct for the general election scheduled for April-May is likely to be imposed following a meeting of the GST Council, which will be presided over by the Union Finance Minister and include state ministers.  

On October 7, 2023, the GST Council met for the last time. 

A specialist claims that before July 18, 2022, several services offered by significant Indian regulatory bodies were GST-exempt. These bodies included the Reserve Bank, the Securities Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority (IRDA), the Food Safety and Standards Authority of India (SSAI), and the Goods and Services Tax (GST) network. 

The removal of this exemption on July 18, 2022, sparked debate about the tax ramifications for RERA organizations.  

“In addition, the Input Tax Credit (ITC) is not applicable in the residential real estate industry. It implies that eliminating RERA authorities from the GST  calculation may result in lower costs for developers and purchasers of real estate. So industry would greatly benefit from an explanation from the GST Council on this issue,” he continued.  

Real estate trends: Why are wealthy Indians purchasing opulent homes before the fiscal year’s end?

Real estate experts estimate that the ticket sizes for this year’s real estate transactions range from less than Rs 10 crore to more than Rs 100 crore. 

There was a surge in the quantity of luxury real estate transactions recorded nationally before the close of the fiscal year. The ticket sizes for these properties range from Rs 10 crore to more than Rs 100 crore. Real estate advisors point out that there are financial considerations in addition to the fear of missing out (FOMO) on the most desirable properties in town due to the limited supply of luxury properties, which is one of the main driving forces behind such decisions. 

According to them, one of the explanations might be that several investors who have profited from the financial markets are booking profits by buying real estate in anticipation of possible election-related volatility. 

The range of ticket sizes, which begin at Rs 10 crore and go up to over Rs 100 crore, is another trend that has come to light. They suggested that this might be because of the Rs 10 crore cap on long-term capital gains reinvestment under Section 54F enacted in the Budget in 2023. 

Here are a few recent high-value deals that happened in Mumbai and Delhi-NCR. 

A 10,000-square-foot apartment at the Cameliias by DLF on upscale Golf Course Road in Gurgaon recently sold for Rs 95 crores.

For Rs 10 crore, Bollywood actor Mrunal Thakur and her father bought two apartments from Kangana Ranaut’s family in Mumbai’s Andheri West neighborhood. 

Earlier this year, eight members of the Halan family—investors in stocks and other asset classes– paid a total of Rs 104 crore for four sea-facing twin apartments in K Raheja Corp’s opulent south Mumbai project. The apartments total 16,000 square feet. 

Vratika Gupta, the creator of the well-known decor brand Maison SIA, paid over Rs 116 crore to purchase an opulent apartment in Mumbai’s Oberoi 360 West. 

Demand for luxury homes is not limited to posh areas of Mumbai or Gurugram but also spreads to suburban locations. Krishna Kuppuswami Dasarakothapalli, known for films such as The Family Man, Stree, and Go Goa Gone, bought a duplex in Mumbai’s Goregaon suburb for Rs 30.50 crore this year. 

According to Anuj Puri, chairman of ANAROCK Group, sales of ultra-luxury homes (worth more than Rs 40 crore each) have experienced an unparalleled surge in CY2023, setting new records for both quantity and quality. According to the most recent data from ANAROCK Research, the total sales value of ultra-luxury homes increased by an astounding 281% in CY2023 compared to CY2022.

He continues, “CY2023 has already made Indian real estate history in ultra-luxury property sales before it is over.” 

Additionally, of the 62 ultra-luxury homes sold in CY2023, at least 12 had prices above Rs 100 crore, compared to just nine in 2022, according to Anarock data. In 2023, fifty opulent residences were sold for amounts between Rs 40 crore and Rs 100 crore. There were only four deals in this price range in 2022. 

He continues, “This demonstrates the country’s current appetite for ultra-luxury homes.” 

According to Amit Goyal, Managing Director of India Sotheby’s International Realty, who spoke with HT Digital, there has been an increase in high-end real estate transactions toward the end of the fiscal year.

Many investors who have profited from the stock market are now real estate investors. After all, the stock market is expected to remain volatile during the elections. 

“That is to say that ticket sizes are smaller than last year after the announcement in Budget 2023 and the changes to Section 54 and 54F went into effect,” he added. 

According to him, a surge of transactions surpassing Rs 100 crores was recorded in March 2023 as an increasing number of wealthy individuals utilized their earnings to acquire real estate before April 1, 2023, when the exemption from long-term capital gains tax for buying residential properties was limited to Rs 10 crores.  

According to Ritesh Mehta, Senior Director and Head of Residential Services & Developer Initiatives, West and North, JLL, several buyers are investing in real estate, the majority of which they intend to use for their use and booking profits from the share market.  

“This is one of the causes of the comparatively small ticket size compared to the prior year. Most of the deals in the previous year were above Rs 90 crores, especially after the long-term capital tax exemption for purchasing residential units at Rs 10 crores. Before the end of the fiscal year, most deals in the premium segment range from Rs 10 crores to more than Rs 100 crores,” he said. 

In the future, he says, “the trend is expected to continue.”