'We will develop 7,000 affordable homes and 7-8 million sq ft of commercial projects,' says P Ravindra Pai, MD, Century Real Estate
Cost of construction rose by 10-12% over last year: Report
According to a report, developers’ average cost of construction has increased by 10-12% due to high input costs and supply constraints over the last one year.
The cost of construction materials like cement and steel increased by 20% as of March 2022. The developers have been largely affected by the surging price after recovering from the Covid-19 pandemic. CEO and Managing Director at Market Development, Asia, Colliers, Ramesh Nair, told the media that due to the rising cost of construction materials, the developers would have to increase prices as construction materials c..PE companies to raise Rs 20,000 cr for affordable residential projects
Several private equity (PE) firms are focusing on the residential real estate segment to raise a cumulative amount of Rs 20,000 crore to deploy in the affordable to the mid residential segments projects in India.
Some domestic and Alternative Investment Fund (AIF) raised include ASK Property Investment Advisors, Motilal Oswal, HDFC Capital Fund, Kotak Investment Advisors and Gruhas Proptechand Lumos. CEO and Managing Director of ASK Property Investment Advisors (ASK PIA), Sunil Rohokale, told the media that the demand for residential housing has revived after five years. Priv..Affordable segment share in property sales drops to 43%: Report
According to a report by PropTiger, 43% of all property sales in India's eight main housing markets were within the price category of Rs 45 lakh, a cap required to qualify for specific government incentives on home purchases in India.
As per the report, government policy support is likely to boost the attraction for affordable homes in India in 2021. As a result, the world's second most populated country witnessed an increase in both annual home sales and supply. In 2021, the annual round-up of 2021 home sales in eight leading housing markets of India reached 13% com..Residents Sceptical of Sahastradhara Road Widening
Residents in Dehradun have raised questions and expressed scepticism regarding the proposed widening project for Sahastradhara Road. The project, aimed at widening the road to accommodate increased traffic, has faced criticism and scrutiny from local residents concerned about its potential impact on the environment and surrounding areas.
The Sahastradhara Road widening project has sparked debate among residents, with some questioning the necessity and feasibility of the initiative. Critics argue that widening the road may lead to the loss of trees, green spaces, and heritage structures ..
Warburg Pincus Acquires Shriram Housing Finance
Warburg Pincus, a leading global private equity firm, has announced its acquisition of Shriram Housing Finance for an impressive sum of Rs 4,630 crore. This strategic move underscores Warburg Pincus' commitment to expanding its presence in the Indian financial sector and capitalizing on the growing demand for housing finance solutions in the country.
Shriram Housing Finance, a subsidiary of Shriram City Union Finance, has established itself as a key player in the affordable housing finance segment, catering to the needs of millions of aspiring homeowners across India. The acquisition b..