Developers fined Rs 17.5 crore for RERA violations

DLF's Q4 FY24 Net Profit Surges

DLF, one of India's leading real estate developers, has announced a significant surge in its net profit for the fourth quarter of fiscal year 2024, marking a substantial growth of 61.49%. This robust financial performance underscores DLF's resilience and effective management amidst challenging market conditions.

The surge in net profit reflects DLF's successful implementation of strategic initiatives and prudent financial management, contributing to its bottom line growth. The company's ability to adapt to evolving market dynamics and capitalise on emerging opportunities has played a p..

Luxury home sales nearly equal affordable homes for first time

In a noteworthy shift, luxury homes, priced above Rs 1.5 crore, constituted 21% of total sales in the January-March quarter of this year, nearly matching the share of affordable homes, which stood at 20%, according to a report released. This marks the first time such parity has been observed, signaling evolving trends in the real estate market.

Anarock, a prominent real estate consultancy, revealed that the share of luxury homes has surged from a mere 7% in the same quarter of 2019. Conversely, the proportion of affordable homes, priced below Rs 40 lakh, has witnessed a decline from 37%..

BCD Group strengthens services with interior design launch

Construction and design company BCD Group has expanded its offerings by launching Casadilusso, a new interior design arm. This move strengthens their vertical integration strategy, allowing them to provide a comprehensive solution for real estate developers and home buyers. The decision reflects a growing trend in the industry. Developers are increasingly seeking ?one-stop-shop? contractors who can handle everything from design and engineering to construction, all under one roof. This approach improves efficiency and productivity for developers. ?With over seven decades of experience in develo..

Shriram Finance Sells Housing Finance Business

Shriram Finance has finalised the sale of its entire 85% stake in the housing finance business to Warburg Pincus for a whopping Rs 46.30 billion. This move marks Shriram Finance's exit from the housing finance sector, signalling a strategic shift in its business focus. The deal, valued at over Rs 54 billion including a stake sale and fresh equity infusion, positions Warburg Pincus as a significant player in the Indian housing finance market.

Shriram Finance's decision to divest its housing finance arm aligns with its broader corporate strategy, aimed at optimising its portfolio and conc..

BMC Finds 188 Dilapidated Buildings in Mumbai

The Brihanmumbai Municipal Corporation (BMC) has identified 188 dilapidated buildings across Mumbai, with a significant concentration of 47 in the eastern suburbs alone. This move comes as part of the BMC's ongoing efforts to ensure structural safety and mitigate risks associated with ageing infrastructure in the city.

The identification of these dilapidated structures underscores the pressing need for proactive measures to address potential hazards and safeguard the lives of residents. The BMC's focus on monitoring and assessing the structural integrity of buildings reflects its commit..