Category Archives: Real Estate

How RERA is revolutionizing Indian real estate

The 14 spokes of RERA’s protective umbrella The Indian real estate industry, particularly the residential sector, was in the past correctly characterized as being unregulated and unorganized with unreasonable project delays and poor quality of construction being definitive aspects. The arrival of the Real Estate Regulatory Act (RERA) in March 2016 brought in a paradigm shift in the sector and Read More

Swiss central bank warns of ‘correction’ in real estate

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A rare piece of real estate hidden in plain sight underneath a New York City church was put on the market for $7 million

Hannah SchafferCatacombs in New York City might not look like those in Paris – but they have an interesting story. A New York City church is selling the last remaining crypt in its catacombs for $7 million. These catacombs – beneath the 200-year-old Basilica of St. Patrick’s Old Cathedral – were previously off-limits, but the church recently began public tours Read More

Blackstone Fund Buys Stake in Real Estate Firm Rockpoint

(Bloomberg) — A Blackstone Group LP fund that takes minority stakes in alternative-asset managers is buying part of real estate firm Rockpoint Group. The Blackstone pool, which in July agreed to take a stake in buyout firm Leonard Green & Partners, has acquired a passive, minority stake in Boston-based Rockpoint, the firms said in a statement Tuesday. The interest is about 20 Read More

Prestige gears up to build mid-income housing platform

Prestige Group chairman and MD Irfan Razack. Prestige is in talks for a central Mumbai project development and has signed a 25 acre land deal in Noida for mid-income housing other than signing up for new projects in Pune and Hyderabad. Photo: Aniruddha Chowdhury/Mint Bengaluru: Armed with fresh capital commitments, Prestige Group is gearing up to build a new mid-income housing Read More

Oberoi Realty eyes Rs1,000 crore rental revenue in next 3 years, plans REIT listing

In 2016-17, Oberoi Realty generated a revenue of Rs320 crore from its leased commercial assets, accounting for about 27% of its overall revenue. Mumbai: Oberoi Realty Ltd expects to generate rental revenue of around Rs1,000 crore in the next three years from its existing and upcoming commercial portfolio, a top executive said. The company, India’s second largest builder by market Read More

PE investments fall 60% in February with no mega deals

No major deals above the value of $300 million happened last month, causing the decline from January, which registered deals worth $3.5 billion. Photo: Mint Mumbai: Private equity (PE) and venture capital (VC) investments in February registered a sharp 60% month-on-month decline to $1.4 billion across 63 deals, due to the absence of any mega deals, says a report. No major Read More

India’s real estate market will set the tone for 2018 with landmark reforms like RERA and GST in place

Last year, India’s real estate sector saw two major reforms come into force — the Real Estate Regulatory Authority (RERA) and the Goods and Services Tax (GST). While a landmark tax such as the GST is expected to have far-reaching implications for sectors across the economy, its impact on real estate as a whole is likely to be a mixed Read More

ICICI Prudential AMC unit sells commercial office assets to HNIs

ICICI Prudential Real Estate Investments had invested around Rs450 crore across five transactions in Mumbai, Pune and Noida for a 550,000 sq. ft portfolio, which was leased to large international tenants. Photo: Hemant Mishra/Mint Bengaluru: ICICI Prudential Real Estate Investments, a division of ICICI Prudential AMC Ltd, has sold four of its five commercial office investments to ultra-rich individual investors and Read More

Accor seals sale of majority stake in real estate arm

French hotelier Accor has signed the long-awaited sale of a majority stake in its real estate business to a consortium of investors including the sovereign wealth fund of Saudi Arabia. Europe’s largest hotelier by room numbers said on Tuesday after market close that it will sell 55 per cent of AccorInvest to sovereign funds, Saudi Arabia’s Public Investment Fund and Read More