Real Estate

Despite recent signs of economic improvement, the harsh reality is that the Indian economy would still contract significantly during the current year. The economic loss due to Covid-19 is estimated to be around ₹ 18-20 lakh crore or around 9-10 per cent of Gross Domestic Product (GDP) this fiscal as compared with the previous year. This data comes at a...

Shares of the Bangalore-based real estate developer Sobha rose as much as 7 per cent to hit an intra-day high of ₹ 439.70 on the BSE after the company, post market hours on Thursday, said that it achieved best ever quarterly sales volume in December quarter. "Sales volume achieved during Q3-21 is the best ever quarterly sales volume reported by...

Surge in prices of steel products that are used in the construction sector has an adverse impact on the real estate companies as these materials are now not in a position to pass the additional cost on their buyers and may witness shirking of margin by 4-6 per cent, realtors said on Tuesday. The steel prices have increased at a...

India's factory sector ended a rough 2020 on a stronger note as manufacturers boosted production to meet rising demand, a private survey showed on Monday, although the employment situation worsened as firms continued to reduce headcounts. Manufacturing has been one of the main engines driving a recovery in Asia's third-largest economy after a coronavirus-induced slump early in the year. Business...

Ahead of the Budget, the Indian Stainless Steel Development Association (ISSDA) has urged the government to remove import duty on ferro-nickel and stainless steel scrap. Currently, ferro-nickel and stainless steel scrap attract basic customs duty (BCD) of 2.5 per cent. In its recommendations to Finance Ministry for the upcoming Budget for financial year 2021-22, ISSDA has also sought removal of import...

Union Minister for Road Transport and Highways Nitin Gadkari said that as part of the National Infrastructure Pipeline (NIP), infrastructure projects worth ₹ 44 lakh crore are under implementation. While addressing the CII Partnership Summit 2020, the minister said that the national infrastructure pipeline encapsulates an investment of ₹ 111 lakh crore on infrastructure projects by the year 2024-2025. Currently, projects worth...

Some of the key transit infra projects in Bengaluru, including metro and roadways, will unlock possibilities for large-scale real estate development across 24 key locations in the city. It is estimated that 127 kilometres (km) of metro and 270 km of road projects are under various stages of construction in the city. Bengaluru Metro Phase 2, Extensions and New Lines...

The government's antitrust body on Wednesday conducted raids at offices of UltraTech Cement and two subsidiaries of the world's largest cement maker LafargeHolcim, two sources close to the matter told Reuters. Swiss-based LafargeHolcim in a statement to Reuters confirmed officials visited the Mumbai offices of ACC and Ambuja Cements and said the companies were fully cooperating with the authorities, but...

Augmented by stamp duty cut and the festive season of Dusshera-Diwali, Mumbai recorded home sales volume at 9,301 units in November 2020, registering a 67 per cent year-on-year (YoY) rise over the same month last year. At 9,301 units registered last month, the residential sector of Mumbai recorded the highest-ever registrations in the month of November over the last...

Before the pandemic, Mayank Vora, 34, and his wife were struggling to afford a one-bedroom apartment in one of Asia's costliest cities. Now they are the proud owners of a two-bedroom home in a high-end residential complex on the outskirts of Mumbai they bought for ₹ 1.09 crore ($150,000). "What was unaffordable a few years back is now our dream...