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.
Despite a nationwide economic slowdown, real estate prices remain resilient while shares of real estate companies have plunged, prompting cautious sentiment among investors and brokers.
Real estate developers are offering incentives like "No EMI till possession" and "EMI holidays" to boost sales amid a sluggish market. These offers aim to attract end-users by easing the financial burden until project completion.
Land deals in prime metro city locations see decreasing prices, with Parsvnath's recent Connaught Place acquisition marking a 17% discount per acre compared to last year's rates.
Parsvnath Developers to invest Rs 120 crore in Lucknow's mixed-use project, Parsvnath Planet Plaza, featuring a mall, hotel, and shopping zone.
Realty stocks surge in afternoon trade, with BSE Realty index up 3.7%. DLF leads with a 7% gain, followed by other prominent players like Unitech and India Bulls Real Estate.
Parsvnath Developers launched its first integrated commercial mall in Jamnagar, Gujarat, costing Rs 120 crore. The project spans 13,200 sq m and is expected to generate Rs 120 crore over three years.
Parsvnath Developers sold a 30% stake in its Mumbai project for 1.86 billion rupees to foreign funds, enhancing investor interest in India's real estate market.
The Indian real estate sector is optimistic about the recent budget but calls for further action to meet industry demands, with key benefits noted for housing and infrastructure.
Parsvnath Developers launches Parsvnath Preston in Sonepat, aiming for Rs. 500 crore profit. The project offers 1200 units, with 500 in the first phase, spanning 2.2 million sq ft.