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Nisus Finance to Invest Rs 500 cr in Stressed Real Estate Projects Real estate-focused private equity fund Nisus Finance is planning to raise around Rs 700 crore from domestic investors, and invest Rs 500 crore out of that in stressed realty assets over the next three years. To begin with, the company has also identified projects across Mumbai, Noida, Bengaluru and Pune. “Nearly, $20-30 billion worth of real estate assets are under stress. These are largely good assets and we see them as a huge opportunity to provide finance and make good returns,” Amit Goenka, Managing Director and Chief Executive Officer, Nisus Finance, told PTI. According to a recent survey by consulting firm KPMG, at the end of 2017, real estate developers accounted for $20 billion worth of stressed bank loans. “We will be raising Rs 700 crore from domestic investors. Out of this, around Rs 500 crore will be invested in distressed realty assets over the next three years,” Goenka said. He further...

New Real Estate Technology: Disruptive Ideas Transforming the Industry Digital disruption is all-pervasive and the real estate industry is notably fostering dozens of new ideas that are capable of creating a big explosion in the evolution of real estate tech. Technology is undoubtedly becoming a catalyst for this change and is already making substantial ripples in the industry. It all began with a simple digital revolution wave. Who knew then that it would become instrumental in bringing about a transformation in the industry? Sales that were once taking place by deciding through still images being uploaded on websites gradually moved towards transactions through a smart-phone. Standard angle pictures of a property became a thing of the past as it gave way to the 360-degree realistic viewing experience of the property.  Advertisements on television and print which were once a medium of communication and promotion became obsolete as social media applications like Facebo...

This startup is automating the way real estate developers operate their construction business Gurugram-based BuildSupply offers a complete range of ERP solutions to increase efficiency and profitability in the real estate sector. The startup ecosystem is full of stories of entrepreneurs taking the road less travelled. Many have left secure high-flying jobs to follow their dreams of starting up. It’s about believing in one’s goals and taking them forward, undeterred by fear of risk and failure. Sameer Nayar’s story is no different. He was Managing Director and Head of Real Estate Finance for Asia-Pacific region at Credit Suisse, deploying billions of dollars of debt and equity. He left it all to venture on the startup path. At the peak of his career, Sameer made a promise to himself. Inspired by Apple founder Steve Jobs’ autobiography, he decided that if he continued to work, it would only be for himself. He felt he could shake up the real estate construction industry with a t...

Mumbai: A lot is at stake in real estate industry, say developers The Supreme Court's extension on the Bombay High Court's construction ban till October 23, has come as a relief for real estate developers. However, they feel that a month's time is not enough since a lot is at stake in the real estate business. "The Supreme Court extending the stay of the High Court's order till October 23 is a welcome relief for the housing industry, especially in Mumbai. Real estate developers and other stakeholders will get a breathing space not only for identification of new sites but also complying with the requirements of the Supreme Court. Though some more time would have been preferred. However, we at CREDAI-MCHI would try our best to ensure these issues are resolved during this intervening period," said Rajesh Prajapati, P R Committee Chairman of CREDAI-MCHI. Meanwhile, housing experts say that a lot is at state in the real estate industry, especially i...

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Mumbai:  A fluctuating rupee, and the introduction of various regulations to bring in transparency and accountability, are making real estate more lucrative for non-resident Indians (NRIs), experts say. The rupee is hovering around73 against the US dollar since the past one week. "The drop in rupee can be seen as an investment opportunity for individual buyers as well as institutional investors. Over the past few months, we have witnessed a lot of interest from NRIs. This trend continues to grow stronger due to the timely reforms introduced that brought transparency and accountability in the sector," CBRE Chairman, India, Southeast Asia, Middle East and Africa Anshuman Magazine told  PTI  here. With the real estate industry estimated at about Rs 3 trillion annually, about 7-8 percent of the inventory is being bought and held by NRIs each year. "This amounts to about Rs 21,000-30,000 crore of annual purchases by NRIs each year. Due to a weaker rupee, a 10 percent de...

MUMBAI : India’s much-awaited maiden real estate investment trust (REIT) is set to debut almost four years after the rules were notified and efforts by the government over the past few years to put in place regulations on par with global standards.  Embassy Office Parks, a joint venture of US private equity firm Blackstone Group and Embassy Group, is to file documents with.  MAJORITY OF ASSETS STABLE  Of this, an area of 24 million sq. ft. has been completed and has of 95% occupancy. The remainder is under construction. The company earns annual lease rentals of over Rs 2,000 crore from tenants including Google, JP Morgan, Microsoft, Cisco, IBM, Wells Fargo and Mercedes Benz. It counts more than 150 tenants, over half of which are Fortune 500 companies.  Experts said the REIT would lead to further formalisation of Indian real estate as more. The proposed REIT portfolio includes over 70 assets in Mumbai, Bengaluru, Pune and the National Capital Region. In a...

The Telangana government Tuesday asked all builders and developers who have obtained permission for real estate projects on or after January 1, 2017 to get their projects registered with the concerned authority, immediately. "All the builders/developers who have taken permission for real estate projects on or after January 1, 2017 having about 500 sq.mts plot area or more than eightunits are requested to get their projects registered with Telangana State Real Estate Regulatory Authority (TS RERA) immediately through online to avoid penalties." "The official website is rera.telangana.gov.in," an official release said. As per Real Estate (Regulation and Development) Act, 2016 and Telangana Real Estate (Regulation and Development) Rules, 2017, notified by the state government, all the real estate projects approved on or after January 1, 2017 having above 500 sq mts plot area or more than eight units have to be registered with the authority, it added. Ref:  ...

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Despite the rising construction costs, the overall stock of developed real estate in India’s urban centres will touch 8.2 billion sq ft by 2025 and the contribution of real estate sector to India’s GDP will be around 13 percent, a report has said. The report also notes that the implementation of the GST has stabilised the cost of raw materials and streamlined inter-state and import tax, giving the industry a major boost. According to the report titled India Real Estate - Variance in Construction Costs, among Chennai, Bengaluru, Hyderabad, Pune, Mumbai and Delhi, Mumbai remains the most expensive.While the average cost of construction for a residential apartment in a mid-rise building was pegged at Rs 3,125 per sq ft in Mumbai, the price was found to be Rs 2,750 per sq ft in Delhi and Pune. In Chennai and Bengaluru, the cost was Rs 2,500 per sq ft, while in Hyderabad such an apartment would cost Rs 2,375 per sq ft, the report says. Prices of cement have nearly tripled in the...

BJP leader and former local bodies minister Anil Joshi on Thursday staged a protest against the state government for delay in issuing notification on the real estate policy. A large number of party activists assembled at Kacheri Chowk and marched to the DC office. The police had installed barricades outside the DC office, which were removed by Joshi. He submitted a memorandum to the Additional Deputy Commissioner of his demands. Joshi said the Congress government had stopped issuing NoCs since January 2018. Meanwhile, the government introduced a new policy on July 30 but did not issue notification till date. Joshi said the government at its Cabinet meeting held one-and-a-half-month ago framed a new real estate policy, but did not notify it. However, the delay in its notification is causing harassment to a common man. Getting an NOC for properties had become a difficult task, he added. Vikram Aery, president, Amritsar Property Dealers’ Association, said the people were at the r...

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The introduction of the Real Estate Regulatory Authority (RERA) Act on May 1, 2017, by the Parliament of India, came as a welcome move for Indian home-buyers, giving them the means to address pertinent issues such as project delivery delays, property pricing, quality of construction, and title and other changes. The Act was established with the goal of bringing in unprecedented efficiency and transparency in the Indian real estate sector, which contributes more than 5-6 percent of India’s GDP and is expected to touch a formidable US$180 billion by 2020. However, in order for prospective home buyers to effectively leverage the benefits of RERA, they must pay attention to a few key factors. While RERA promises to usher in a new era of transparency for home buyers, many are still unaware of crucial factors they should look for before investing in a residential property. Most real-estate transactions in metro cities are conducted via real-estate agents. According to the RERA Act, in or...

The Indian real estate sector has witnessed transformative reforms in the last few years, the Union Minister of State (I/C) Housing and Urban Affairs, Hardeep Singh Puri said in a latest speech. According to CREDAI-JLL report, the contribution of housing sector to the Indian GDP is expected to be 11% by 2020, up from current 5 to 6% the Indian real estate market is expected to touch USD 180 billion by 2020 and USD 350 billion by 2027 - where the products will be more structured and pre-planned, he noted. The Minister was delivering the inaugural address at the "First Regional Workshop on RERA - a New Era of Transparency and Accountability in Real Estate - 2 years of implementation and way forward (Western Region)" in Pune. Addressing the participants, the minister stated that the year 2016 changed the real estate sector forever and defined the dawn of the post RERA era. He asserted that the plight of the homebuyers who were at the mercy of the developers and bringing disc...

Premium and luxury segments in India have witnessed an unprecedented rise in both size and significance in recent years. Developers are increasingly launching and developing villas and luxury houses owing to higher demand. Evolving lifestyle and increased aspirations are the major factors leading to the redefining of the Villa Living segment in India. With the increase in dispensable income and affluent lifestyle desired by young professionals, there has been a 50 per cent growth in demand for villa living in some parts of the country in the current year as compared to the previous year, as per industry estimates. Even when the overall industry faced a downturn in the recent past, the luxury segment continued to record good sales. Developers of luxury projects were undeterred and they continued to launch new projects. A recent report pegs the share of luxury housing segment at 4-5 per cent of the overall housing market. This figure is set to rise as the number of affluent people ...

FICCI and JLL have released a report titled 'Future of India Real Estate: Deciphering the Mid-term Perspective' at the 12th edition of FICCI Real Estate Summit. The report analyses the drivers and challenges facing the sector in the next 2 to 3 years. The rapid urbanisation is expected to offer significant opportunities for real estate and infrastructure development in Indian cities. This sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces. It is also important to note that the real estate developers have been instrumental in changing the face of India through building state-of-the-art infrastructure, buildings, townships, shopping malls spread all over the country. India's recovery from the effects of demonetization and GST is reflected in 2018 Q1 GDP clocking an impressive 8.2% growth. CPI inflation, which has been a concern in the recent past, is expected to remain at 4.7% in the annual forecast for median in...