Omaxe Ltd reports strong sales growth for the first half of the fiscal year, with a 26% increase in property sales. The firm attributes its success to higher average realization rates.
Demand for homes in smaller Indian cities attracts big real estate developers, with 354 million sq ft of residential development expected in 3 years.
Omaxe Ltd plans to raise property prices and launch four new projects, investing fifteen billion rupees with projected revenues of 23 billion rupees over 30 months.
Omaxe Ltd. plans a Hi-tech township in Lucknow, expected to generate Rs 2800 crores over 5-7 years, enhancing local amenities and infrastructure.
The Planning Commission plans to introduce new schemes for real estate in its mid-term appraisal, aiming to prioritize affordable housing amidst sector challenges.
Mahindra Lifespaces plans to enter the affordable housing sector within a year, targeting middle-income groups amidst a growing housing shortage in India.
Three major realty firms bid on national highway projects to diversify amid a residential real estate slowdown.
HDFC chief points out how environmental clearances result in substantial delays and cost overruns in housing projects, raising concerns among real estate developers about mounting expenses and inefficiencies.
Real estate firms call for tax cuts and controlled material prices in the upcoming budget to stimulate the struggling sector and benefit buyers.