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A complex web of 393 shell companies used for allegedly diverting funds unscrupulously to the tune of Rs 2900 crore has been unearthed by the CBI during its probe into such cases over the last three years, according to PTI. CBI sources said the shell companies were allegedly being used by the accused to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money. Round-tripping is sending money abroad to tax havens in the guise of payments for fake imports through shell companies and bringing back that money showing it as foreign investment. The findings of the CBI are just a tip of the iceberg as these are only those cases where the agency has been able to find legally-tenable evidence of money trail, cheating and diversion of funds to cheat the banks, said the sources not willing to the named. The murky activities have been exposed during the CBI probe into various loan fraud cases involving 28 public sector banks and one private bank, the sources said. Besides this, the agency is probing about 200 cases involving funds of at least Rs 30,000 crore, the sources said. The CBI is prosecuting these companies for corruption and scheduled offences associated with it. In addition, it will also refer these cases to other investigating agencies for action under other laws like Companies Act, Prevention of <keyword id="6355008" type="UNKNOWN" weightage="20" keywordseo="money-laundering">Money Laundering</keyword> Act, Benami Transactions (Prohibition) Act and the <keyword id="6354751" type="COMPANY" weightage="20" keywordseo="Income-Tax">Income Tax</keyword> Act etc, the sources added. The agency has not only "exposed" these shell companies but also gathered enough material which would "plug" the possibility of them being used for any further operation, the sources claimed. The sources said it is likely that these shell companies have been used to abfinancial crimes by other offenders too which will be probed by other agencies. The companies are spread across the country as also the 'tax-haven' countries facilitating transfer of black money which makes the investigation even more difficult, they said. Some important cases which have been probed by the CBI include the one against <keyword id="4504226" type="UNKNOWN" weightage="20" keywordseo="century-communication-group">Century Communication Group</keyword> which used to run Mahua Channel. According to the figures mentioned in the agency's charge sheets and FIRs, the group allegedly committed fraud to the tune of Rs 3000 crore. It used over 98 shell companies to allegedly divert bank loans for setting up digital studios in Noida, Mumbai, <keyword id="6354925" type="COMPANY" weightage="100" keywordseo="Kolkata">Kolkata</keyword> and other locations, the CBI has said. These companies were allegedly used to divert funds showing fake equity infusion to the tune of Rs 802 crore. The Kolkata-based shell companies named in the case were allegedly controlled by one Muralidhar <keyword id="108547" type="PERSON" weightage="20" keywordseo="Lahoti">Lahoti</keyword>. Three chartered accountants have also been charge sheeted. Zoom Developers faces 14 cases for allegedly swindling bank funds worth Rs 2600 crore involving a consortium of 26 banks. It allegedly collateralised foreign bank guarantees issued by Indian banks in favour of foreign aggregators. The CBI had registered two cases against Jignesh Shah and Anjani Sinha of National Spot Exchange Limited, also known as "NSEL scam", in which funds of Rs 342 crore were allegedly swindled. Nine shell companies surfaced during the probe which were trading on the exchange platform allegedly without having actual possession of the commodities, they said. The company is accused of increasing its paid-up capital to Rs 500 crore by round-tripping and routing bank funds to the extent of Rs 460 crore through six shell companies. In a recent case, the agency has found that a dental college existed only on paper while a bank was told that the construction was completed and loan funds were diverted for purposes other than for which these were issued. In many cases, the CBI found that companies have peons, drivers, sanitation workers, personal staff, cooks etc as the directors of the shell companies created by the masterminds who divert funds using them, the sources said. Recently, the government expressed concern over the working of shell companies in the country. Revenue Secretary Hasmukh Adhia had said that out of 15 lakh companies registered in India, nine lakh are not filing any returns and some among them may be acting as shell companies.

Here’s how Rs 2900 crore was diverted through shell companies of Noida, Mumbai and Kolkata

New Delhi, Nov 15 () Housing prices in Gurugram and adjoining areas have dropped 4 per cent in the last one year, while Noida and Greater Noida saw one per cent increase, according to brokerage firm PropTiger.
 The weighted average basic selling price (BSP) in Gurugram declined to Rs 4,868 per sq ft in July-September period from Rs 5,055 per sq ft a year ago, News Corp-backed PropTiger said in its report Real Insight.
 Gurugram area includes Bhiwadi, Sohna and Dharuhera. 
 However, rates in Noida (including Greater Noida and Yamuna Expressway) rose marginally to Rs 3,921 per sq ft from Rs 3,886 per sq ft during the period under review. 
 As per the report, the combined housing sales in both Gurugram and Noida regions fell 47 per cent during the July-September period to 5,569 units.
 Sales in Gurugram fell by 31 per cent to 2,742 units in July-September this year from 3,988 in the corresponding period of last year, while demand plunged by 57 per cent to 2,827 units from 6,528 units.
 In new supply, Gurugram saw an increase of 27 per cent to 2,353 units from 1,851 units, but Noida witnessed fall of 55 per cent to 736 units only from 1,647 units. 
 As on September 30, 2019, builders in the two cities had an unsold stock of 1,06,317 units as against 1,15,598 units a year ago. 
 In its report, PropTiger tracks sales, launches, prices in residential markets of nine cities - Mumbai Metropolitan Region (including Navi Mumbai and Thane), Pune, Noida (including Greater Noida and Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera and Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
 PropTiger.com is part of Elara Technologies that also owns Housing.com and Makaan.com. MJH ANS
ANS

Housing prices in Gurugram down 4 pc in last one year; Noida sees marginal rise: PropTiger

New Delhi, May 27 (IANS) <keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword> on Wednesday announced that it's 'Nearby Spot' feature is now available in 35 cities across the country. These cities are Hyderabad, Ranga Reddy, Secunderabad, Bengaluru, Mysuru, Mumbai, Nagpur, Navi Mumbai, Pimpri-Chinchwad, New Delhi, Gurugram, Faridabad, Chennai, Surat, Ahmedabad, Patna, Varanasi, Lucknow, Ghaziabad, Prayag Raj, Kanpur, Noida, Greater Noida, Visakhapatnam, Indore, Kolkata, Bhubaneswar, Ludhiana, Sahibzada Ajit Singh Nagar, Chandigarh, Thiruvananthapuram, Kochi and Ernakulam. Last month, Google Pay launched a 'Nearby Spot' to helps users see which stores, providing essential goods, are open in their vicinity. Merchant establishments can now indicate their business hours, whether social distancing measures are in place at the store and the essential goods presently in stock. Users across the country can also book their cooking gas cylinders from HP Gas, Bharat Petroleum or Indane, and pay digitally via the app. "All three service providers are now live for all users of Google Pay," the company said in a statement. The company has also launched a 'Coronavirus Spot' which provides users official safety guidelines from the Ministry of Health and Family Welfare, and also links to a variety of charities accepting donations to support relief work.

Google pay's Nearby Spot available in Mumbai, Delhi, Kolkata, Bengaluru and other 31 cities of India

While looking for a property, you would normally prefer a perfect mix of a great social and civic infrastructure along with proximity to key locations but that’s not all, Housing.com has found that upto 50% Indians prefer to buy practical homes compared to lavish ones. The overwhelming preference for apartments shows the growing acceptance of this property type amongst the urban population who prefer a standard lifestyle with various amenities at a reasonable cost. Based on insights drawn from the traffic witnessed on Housing.com, this research helps to understand the buying trends of Indian home buyers across top 5 cities in India - Mumbai, Delhi-NCR, Bengaluru, Chennai and <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword>. <div type="embedgroup"> <div type="Article" hostid="261" msid="58908111" title="Meet the People Who Risk their Lives to Ensure your Phone Catches Signal Wherever You Go" rank="1.0" kind="RELATED" publishDate="May 30, 2017, 1:20 PM" mstype="2" mssubtype="0"></div></div>






Key highlights from the research include: Top localities for investment • Mumbai’s property market is legendary and the hottest investment destinations in the city today include Thane West, Dombivli East, Mira Road East, Andheri West and Panvel • Delhi and the National Capital Region (<keyword id="53426" type="CITY" weightage="20" keywordseo="NCR">NCR</keyword>) region is bustling with a range of infrastructure development and top localities to invest in the region includes Rohini, Uttam Nagar, Dwarka, Sector 16/Palam Vihar and Noida Extension • Bengaluru, popularly known as the ‘Silicon Valley of India’ is one of the upcoming residential markets in India and top 5 investment localities in the city are Hormavu, K R Puram, Whitefield, Electronic City and J P Nagar • On the back of infrastructural developments, Chennai has been transforming itself into a real estate hotspot. The top localities of the city preferred for investment are Perambur, Kolathur, Ambattur, Madipakkam and Chromepet • The top localities in Kolkata, the capital city of West Bengal are South Dum Dum, Dum Dum, Rajarhat, <keyword id="183467" type="CITY" weightage="20" keywordseo="New-Town">New Town</keyword> and Garia. <div type="embedgroup"> <div type="Article" hostid="261" msid="58894102" title="Ditch Sodas This Summer, Opt For This New Flavoured Green Tea Instead" rank="1.0" kind="RELATED" publishDate="May 29, 2017, 3:30 PM" mstype="2" mssubtype="0"></div></div>






Type of Houses • More than 50% of Indians are interested in buying an Apartment as compared to Villas or Builder floor apartments • Mumbai is fast emerging as the preferred destination for home buyers as 96% of home buyers choose Apartments over Villas and Builder floor apartments • Surprisingly, demand for Apartments in Delhi-NCR was recorded lowest at 54% • The preference for Builder floor apartments is 37% in Delhi and extremely low in other cities (2% in Mumbai, 1% in Bangalore, 3% in Chennai and no preference at all in Kolkata)

 

 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58841775" title="According to this Limeroad Survey, More than 33% of Men Prefer Buying Entire Looks instead of One Item of Clothing" rank="1.0" kind="RELATED" publishDate="May 25, 2017, 5:40 PM" mstype="2" mssubtype="0"></div></div>






• 2BHK housing units are the most preferred choice for more than 40% of home buyers in Delhi, Bangalore, Chennai and Kolkata. In Mumbai, 51% home buyers prefer 1 BHK owing to escalating property rates in the city • 3BHK is the next most preferred configuration in Delhi-NCR, Bangalore, Chennai and Kolkata (on an average 20% home buyers prefer 3BHK in these cities) as most of the buyers look for a balance between spacious homes, amenities, luxury and afforbidibility. However, Only 6% home buyers prefer 3BHK in Mumbai stating affordability as the major concern in the region.

Indians prefer buying 2BHK apartments over Villas according to Housing.com

<ul><li>The <keyword id="10770367" type="UNKNOWN" weightage="20" keywordseo="Brookfield-Real-Estate-Investment-Trust">Brookfield Real Estate Investment Trust</keyword> (REIT) stock listed at ₹281.70, which is at a 2.43% premium to the set price band at ₹274-275 per share.</li><li><keyword id="8468280" type="UNKNOWN" weightage="20" keywordseo="Brookfield-REIT">Brookfield REIT</keyword>’s initial portfolio consists of four large campus-format office parks, located in Mumbai, Gurugram, Noida and Kolkata.</li><li>The company’s market value expanded to ₹8,272 crore after the listing.</li></ul>It was a decent debut for the ₹3,800 crore initial public offering (IPO) of global investment firm Brookfield Real Estate Investment Trust (REIT) on the bourses today (February 16). The stock listed at ₹281.70, which is at a 2.43% premium to the set price band at ₹274-275 per share. The company, headquartered in Gurugram, was the third trust in India to go for an initial public offering (IPO) — the other two being Embassy Office Parks REIT and Mindspace Business Parks REIT. Brookfield REIT’s initial portfolio consists of four large campus-format office parks, located in Mumbai, Gurugram, Noida and Kolkata. And it has a list of marquee tenants — Barclays, Bank of America Continuum, RBS, Accenture, Tata Consultancy Services and Cognizant — that have leased the commercial space with 75% of gross contracted rentals. Within minutes after listing, Brookfield REIT's shares lost nearly 2.34% of their value and were trading at ₹275.11 apiece at 10:05 am in a robust market. The company’s market value expanded to ₹8,272 crore after the listing. The profitable listing was already on the cards! The IPO of the country's only 100% institutionally managed public, commercial real estate vehicle clocked in a great response from investors on the last day of subscription — the issue was subscribed nearly 8 times the offer value. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brookfield REIT IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO Subscription </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.78x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.52x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.94x </td></tr></tbody></table> What to do with the stocks post listing? The listing gains failed to meet the Street’s expectations. Yash Gupta, an equity research associate at Angel Broking, expected in a note the listing gains to be around 5%-15%. According to Gupta, the investors who want to add REIT in their portfolio could hold for the long term. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/jaguar-land-rover-plans-to-go-fully-electric-by-2039-and-said-it-would-spend-3-5-billion-on-the-goal-each-year/articleshow/80925836.cms" data-type="tilCustomLink">Jaguar Land Rover plans to go fully electric by 2039, and said it would spend $3.5 billion on the goal each year</a> <a href="https://www.businessinsider.in/defense/news/list-of-10-latest-defence-deals-that-india-has-signed-in-the-last-six-months/slidelist/80926534.cms" data-type="tilCustomLink">List of 10 latest defence deals that India has signed in the last six months</a>

India’s third REIT IPO, Brookfield, lists at 2% premium over the issue price

New Delhi, Jan 22 () Housing sales fell 9 per cent during October-December across nine cities to 60,453 units due to economic slowdown and liquidity crisis, according to a report. 
 Housing brokerage firm PropTiger recently reported 30 per cent fall in sales in nine cities during October-December quarter. However, during 2019 calendar year, realty consultants Knight Frank India and Anarock mentioned that sales rose by one per cent and 5 per cent, respectively. 
 "The absorption witnessed a dip of 9 per cent as compared to the same period last year and new launches have dropped by 10 per cent on a year-on-year basis. The downtrend observed was mainly due to economic slowdown and liquidity crisis in the market," PropEquity said in its Q4 report. 
 The nine cities tracked by PropEquity are Mumbai, Thane, Bengaluru, Kolkata, Chennai, Noida, Gurugram, Pune and Hyderabad. 
 "Residential real estate continues to be an end user driven market as ready to move-in or nearing completion properties are being preferred. Consumers are now looking for developers with excellent track records in terms of quality and execution," it added. 
 According to the data, housing sales in Pune declined 9 per cent during October-December period to 15,453 units as compared with the year-ago period. 
 Thane and Hyderabad saw 16 per cent fall at 11,933 units and 4,643 units, while Bengaluru and Mumbai witnessed 12 per cent dip each at 10,263 units and 5,996 units respectively. 
 Housing sales in Chennai too dropped 14 per cent to 3,632 units. 
 However, Kolkata saw sales rising by 26 per cent to 4,743 units. Housing sales in Gurugram rose by 19 per cent to 2,175 units and Noida by 20 per cent to 1,615 units. 
 "We expect markets to recover in 2020 and also expect government to announce positive measures in the forthcoming budget," said Samir Jasuja, founder and managing director at PropEquity.
 PE Analytics owns and operates PropEquity, which is an online real estate data and analytics platform covering over 1,18,010 projects of 34,217 developers across 44 cities. MJH ANS
ANS
ANS
ANS

Housing sales down 9 pc, new supply falls 10 pc in Oct-Dec: Report

New Delhi, Jan 22 () Housing sales fell 9 per cent during October-December across nine cities to 60,453 units due to economic slowdown and liquidity crisis, according to a report. 
 Housing brokerage firm PropTiger recently reported 30 per cent fall in sales in nine cities during October-December quarter. However, during 2019 calendar year, realty consultants Knight Frank India and Anarock mentioned that sales rose by one per cent and 5 per cent, respectively. 
 "The absorption witnessed a dip of 9 per cent as compared to the same period last year and new launches have dropped by 10 per cent on a year-on-year basis. The downtrend observed was mainly due to economic slowdown and liquidity crisis in the market," PropEquity said in its Q4 report. 
 The nine cities tracked by PropEquity are Mumbai, Thane, Bengaluru, Kolkata, Chennai, Noida, Gurugram, Pune and Hyderabad. 
 "Residential real estate continues to be an end user driven market as ready to move-in or nearing completion properties are being preferred. Consumers are now looking for developers with excellent track records in terms of quality and execution," it added. 
 According to the data, housing sales in Pune declined 9 per cent during October-December period to 15,453 units as compared with the year-ago period. 
 Thane and Hyderabad saw 16 per cent fall at 11,933 units and 4,643 units, while Bengaluru and Mumbai witnessed 12 per cent dip each at 10,263 units and 5,996 units respectively. 
 Housing sales in Chennai too dropped 14 per cent to 3,632 units. 
 However, Kolkata saw sales rising by 26 per cent to 4,743 units. Housing sales in Gurugram rose by 19 per cent to 2,175 units and Noida by 20 per cent to 1,615 units. 
 "We expect markets to recover in 2020 and also expect government to announce positive measures in the forthcoming budget," said Samir Jasuja, founder and managing director at PropEquity.
 PE Analytics owns and operates PropEquity, which is an online real estate data and analytics platform covering over 1,18,010 projects of 34,217 developers across 44 cities. MJH ANS
ANS

Housing sales falls 9 pc, new supply down 10 pc in Oct-Dec: Report

New Delhi, <keyword id="1390483" type="General" weightage="20" keywordseo="Housing-sales" source="Orion">Housing sales</keyword> rose 8 per cent annually during the April-June period to 80,250 units across eight major cities, mainly on increased demand in Mumbai and Pune, according to PropTiger. Sales stood at 74,320 units in the year-ago period across primary (fresh sales) residential markets of the top eight cities. The housing brokerage firm on Wednesday released its Real Insight Residential - April-June 2023 report, stating that housing sales rose in three cities Mumbai, Pune and Ahmedabad but declined in other five major cities -- Delhi-NCR, Bengaluru, Hyderabad, Chennai and Kolkata. "India's top eight residential markets continue on a growth path. The RBI's decision to pause the hike in the key lending rate helped in sustaining strong positive sentiments for buying residential properties," Vikas Wadhawan, group CFO of REA India, said. PropTiger, Housing.com and Makaan.com platforms are owned by REA India, which is part of Australian firm REA, and News Corp. "The driving factors behind the uptick in housing sales over the last two years are pent-up demand from the COVID-affected period, growing appetite for home ownership, revival in the economy post-pandemic, and the evolving need for more spacious homes," he said. As per the data, housing sales in Ahmedabad increased 17 per cent to 8,450 units during the April-June period to 7,240 units in the year-ago period. Bengaluru saw a 19 per cent decline in sales to 6,790 units from 8,350 units while Chennai witnessed a 5 per cent fall to 3,050 units from 3,210 units. Housing sales in Delhi NCR fell 28 per cent to 3,230 units from 4,510 units. Hyderabad too witnessed a 3 per cent drop in demand to 7,680 units from 7,910 units. Housing sales in Kolkata decreased 40 per cent to 1,940 units from 3,220 units. Mumbai Metropolitan Region (MMR) saw a 16 per cent increase in sales to 30,260 units during April-June period from 26,160 units in the year-ago period. In Pune, sales increased 37 per cent during April-June to 18,850 units from 13,720 units in the corresponding period of the previous year. Delhi-NCR market includes Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad while MMR includes Mumbai, Navi Mumbai and Thane. REA India Head of Research Ankita Sood noted that MMR and Pune contributed 61 per cent to total housing sales across 8 cities. Demand in localities such as Thane West and Dombivali in Mumbai and Charholi Budruk and Hadapsar in Pune have been high, she said. In terms of new housing supply, PropTiger reported that launches increased 11 per cent to 1,13,770 units during the April-June from 1,02,140 units in the corresponding period of the previous year.

Housing property sales in Bengaluru, Delhi sees a decline but Mumbai, Pune maintain pace

New Delhi, Jan 14 () Housing sales declined 30 per cent during the third quarter of this fiscal year to around 64,000 flats across nine major cities on poor demand amid economic slowdown, according to a PropTiger's report.
 Sales in the residential property market fell 13 per cent to 2,63,294 units during the first nine months of this fiscal as against 228,220 units in the corresponding period of the previous year.
 In its 'Real insight Q3FY20' report, the News Corp-backed company said that housing sales across nine cities fell 30 per cent during the October-December quarter despite the government launching several measures in the recent past to revive buyer sentiment. 
 Compared to 91,464 units sold during the quarter last year, only 64,034 homes were sold across the nine markets in Q3 this year.
 PropTiger, which recently raised USD 70 million funds from News Corp and its Australian group firm REA, tracks property markets of Ahmedabad, Bengaluru, Chennai, Gurugram (including Bhiwadi, Dharuhera and Sohna), Hyderabad, Kolkata, Mumbai (including Navi Mumbai and Thane), Pune and Noida (including Greater Noida and Yamuna Expressway).
 "The various measures launched by the government in the recent past to revive growth in the real estate market seem to have made little impact," said Dhruv Agarwala, Group CEO of Elara Technologies that owns Housing.com, Makaan.com and Proptiger.
 "Considering real estate is a major contributor to overall gross domestic product (GDP), which hit a glacial 4.5 per cent rate of growth in the July-September period, we expect further assistance from the government, which would nudge buyers to invest in real estate," he added.
 According to the data of each of the nine cities, Bengaluru registered a 50 per cent fall in sales numbers at 5,155 units.
 Hyderabad saw 44 per cent dip in sales at 4,372 units, followed by Pune that witnessed 39 per cent fall at 11,946 units. Housing sales in Noida declined 38 per cent to 2,830 units, Chennai and Kolkata, both cities, reported 33 per cent fall at 3,015 units and 2,566 units, respectively.
 Housing sales in Mumbai dropped by 18 per cent to 25,198 units and 14 per cent in Ahmedabad at 5,118 units.
 Gurugram in the Delhi-NCR market was least affected with 6 per cent dip in sales to 3,834 units during the October-December quarter of 2019-20 fiscal year.
 PropTiger report also mentioned that unsold inventories declined by 3 per cent during the third quarter at 7,97,723 units from 7,74,860 units at the end of September 2019.
 "At the current sales velocity, builders would take 29 months to sell off the existing stock," it added.
 Average values of property increased by 13 per cent year-over-year in Hyderabad, the highest increase among all the cities included in the report, while Gurugram and Ahmedabad registered 6 per cent and 5 per cent increase, respectively. 
 In other cities, prices showed only nominal increases, between one and three per cent. MJH ANS
ANS

Housing sales across 9 major cities drop 30 pc in Q3

The monthly average housing sales fell 40 per cent during November-December period in the top nine cities as customers deferred their decision to buy homes on expectation of fall in prices after the demonetisation move, according to realty portal PropTiger.com. 
 
The News Corp-backed portal, which recently merged Housing.com with itself, tracks primary residential markets of nine cities -- Gurgaon, Noida, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata and Ahmedabad, according to the PTI. 
 
"Before demonetisation, the monthly average residential sales and launches during July-October months were at around 19,000 units and 18,000 units, respectively, which were affected drastically on account of currency demonetisation. 
"The monthly average sales and launches were reduced drastically during November-December months by 40 per cent and 49 per cent respectively," PropTiger said in its latest report 'Realty Decoded Q3 FY17'. 
 
The government had announced the demonetisation move on November 8, raising hopes of sharp fall in prices in property market, especially secondary or resale segment. 
 
Housing sales across these nine cities declined by 20 per cent to 43,512 units during October-December quarter of this fiscal from 54,721 units in the previous quarter. The pace of decline in overall sales activity over previous quarter is the highest in the past 12 quarters, it said. 
 
The third quarter started on a strong note with October showing a strong performance, but November and December were deeply impacted by the demonetisation drive. The October month contributed about 50 per cent of the sales in the quarter. 
 
Among cities, Gurgaon, Noida and Ahmedabad showed a 30 to 40 per cent decline in sales in the third quarter of 2016-17 over the previous quarter. 
 
Mumbai, Hyderabad, Bengaluru and Chennai witnessed around 20 per cent fall in sales during the same period, while Kolkata and Pune recorded the lowest levels of fall at 8 and 12 per cent, respectively. 
 
On supply, the report said the launches of new homes fell in nine cities during October-December quarter due to decline in sales, stagnant prices, pressure on soaring unsold inventory and a liquidity crunch. 
 
Total launches in the third quarter of this fiscal fell by 8 per cent to 43,253 units compared with 47,032 units in the previous quarter, indicating the reduction in activity levels across the primary residential markets. 
 
"Overall sentiments were negative during the quarter with customers largely resorting to wait and watch strategy in expectation of a steep fall in prices," the report said. 
 
Developers were focusing their efforts to lure customers by offering additional freebies such as jewellery, electronic items, automobiles, holiday package and appliances on the purchase of housing units, it added. 
 
Builders also offered price guarantee, rental assurance, subvention and buyback schemes to bring confidence in the sector.

The real estate industry got hurt real bad, thanks to demonetization

<keyword id="20503776" type="General" weightage="100" keywordseo="rental-income" source="keywords">Rental income</keyword> in major <keyword id="20026638" type="General" weightage="20" keywordseo="Indian-cities" source="keywords">Indian cities</keyword> has risen by 14.6% every year, and a meager 2.6% on a quarterly basis, said a recent report by Magicbricks, a <keyword id="19895040" type="General" weightage="20" keywordseo="real-estate" source="keywords">real estate</keyword> platform. Explaining the rental income dynamics, Abhishek Bhadra, Head of Research, Magicbricks, noted that with economic activity peaking, they anticipate continued growth in both <keyword id="21466032" type="General" weightage="20" keywordseo="rental-demand" source="keywords">rental demand</keyword> and rents in the short to medium term. "Additionally, the supply of rental units is expected to improve as the stock of under-construction properties nears completion. Overall, the current landscape presents a promising opportunity for landlords and investors, encouraging greater participation in the <keyword id="20052080" type="General" weightage="20" keywordseo="rental-market" source="keywords">rental market</keyword>," said the Head of Research. Rental income is a major source of earning for millions of Indians. <keyword id="19932272" type="General" weightage="20" keywordseo="navi-mumbai" source="keywords">Navi Mumbai</keyword> saw 6.2 % jump quarterly, while Hyderabad (4.2%), and Ahmedabad (4%) exhibited the most significant increase in average rents. In Navi Mumbai, the average rent increased from Rs 28.99 per square feet (psf) per month in Jan-Mar 2024 to Rs 30.78 psf per month in Apr-Jun 2024. Similarly, average rents in Hyderabad increased from Rs 22.01 psf to Rs 22.93 psf per month, while in Ahmedabad, rents rose from Rs 17.25 psf to Rs 17.94 psf per month. The report observed a significant 14.8% quarterly increase in rental demand during this period, following a 16% quarterly increase in the previous quarter. However, the report asserted that the supply has decreased by 2.2% quarterly across the cities due to high absorption rates, leading to a rise in rents. The highest rents are in cities of Mumbai (Rs 82.28 psf) per month, Delhi (Rs 33.72 psf) per month and <keyword id="19919131" type="General" weightage="20" keywordseo="thane" source="keywords">Thane</keyword> (Rs 29.84 psf) per month. The <keyword id="22641758" type="General" weightage="20" keywordseo="Magicbricks-report" source="keywords">Magicbricks report</keyword> further observed that average rents in Greater Noida is Rs 14.52 psf per month, Rs 20.10 psf per month in Noida and Rs 28 psf per month in Bengaluru. With high rental demand and rents, <keyword id="19951618" type="General" weightage="20" keywordseo="residential-real-estate" source="keywords">residential real estate</keyword> continues to be a lucrative investment market. While across the top 13 cities, the average rental yield is 3.6%, investments in Ahmedabad, Pune and Kolkata demonstrated the highest rental yields (3.8%), observed the report.

Rental income in key Indian cities spiked over 14%, says Magicbricks report

Housing sales have gone down marginally by 1% in <a href="http://www.businessinsider.in/thelife/real-estate/property-rates-in-top-eight-indian-cities-have-fallen/articleshow/57573937.cms">eight major cities</a> of India, falling to 28,131 units during January-March as compared to the previous quarter. This indicates at the demand for housing units slowly recovering from the impact of <keyword id="3315394" type="UNKNOWN" weightage="100" keywordseo="demonetisation">demonetisation</keyword>. Also read: <a href="http://www.businessinsider.in/financial-institutions-were-hit-hard-by-demonetisation-but-heres-why-bfsi-has-still-managed-to-sail-through/articleshow/57631451.cms">India's financial institutions were hit hard by Modi's demonetisation move, but here's why BFSI still managed to sail through</a> During the previous October- December quarter, housing sales stood at 28,472 units in Gurugram, Noida, Mumbai, Kolkata, Hyderabad, <a href="http://www.businessinsider.in/future-of-business/the-most-popular-parts-of-delhi-mumbai-and-bengaluru-where-people-invested-in-real-estate-in-2016/articleshow/56503428.cms">Bengaluru</a>, Pune and Chennai, as per data from the <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> data, research and analytics firm PropEquity. The report adds that launches of new homes fell 19.46% in the Q4 of 2017 to stand at 22,897 units from 28,428 units in the Q3 of 2016. "Overall the fall in demand and new launches of residential projects slowed down in the Q1 as impact of <a href="http://businessinsider.in/topic/demonetisation">demonetisation</a> on the real estate sector tapered down faster than the expectations," PropEquity said. Talking of <a href="http://www.businessinsider.in/thelife/real-estate/Stagnant-property-prices-cheer-home-buyers-become-headache-for-investors/articleshow/52201283.cms">prices</a>, housing prices declined by 1.67% to Rs 6,185 per sq ft as against Rs 6,290 per sq ft during the period under review. The report is hopeful about the coming months, saying that the housing supply would slowly pick up. (Image source)

Housing sales fall by 1% in top eight Indian cities

The Nasdaq listed <keyword id="113494" type="General" weightage="20" keywordseo="sify" source="Orion">Sify</keyword> Technologies Ltd will be setting up 200 MW capacity data centres over the next four years with a mix of hyperscale and retail facilities, said a company official. The new data centres will come up in Mumbai, Delhi and Bengaluru where the demand is expected to be more both for colocation and cloud space given the concentration of financial traffic. Entering the data centre market in 2000, Sify over the years has built and operates 10 carrier-neutral data centres, currently offering more than 70 MW at Vashi, Bengaluru, Chennai, Airoli, Noida, Rabale, Hyderabad and Kolkata. Through CloudCover, Sify also services a network of 49 data centres across India. The company said on 21.9.2021, its first data centre at Vashi completed 21 years of uninterrupted operations. "Sify has pioneered and set high standards in the Data Centre space in India ever since the launch of country's first concurrently-maintainable data centre at the Infotech Park in Vashi, Mumbai in September 2000," Raju Vegesna, Chairman said. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms">Marriage Story! Zee gets a white knight in Sony</a> <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-hits-upper-circuit-after-two-independent-directors-resign-on-investors-demand/articleshow/86189814.cms">Zee Entertainment hits 33% after two independent directors resign on investor’s demand</a>

Sify Technologies to set up new data centres in Delhi, Mumbai and Bengaluru

Housing sector, which is facing a huge demand slowdown, witnessed an 8 per cent rise in sales in nine major cities, during October-December period -- the first time in last 10 quarters, says a report. 
 In its report, Rupert Murdoch-backed realty portal <keyword id="1871874" type="COMPANY" weightage="20" keywordseo="PropTiger">PropTiger</keyword> tracked <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> markets of nine cities - Ahmedabad, Bengaluru, Chennai, Gurgaon, Hyderabad, Kolkata, Noida, Mumbai and Pune. 

	Prices are likely to remain stable in the short term as most cities have already begun to display signs of recovery, said PropTiger, which provide various realty services including brokerage. 
 

	"Sales have increased for the first time in last 10 quarters, from 49,000 units (Q2 FY16) to 53,000 (Q3 FY16). This trend reversal indicates that the worst could be over for real estate residential market. At least, the downside, if any, should be limited from here onwards," the report said. 
 

	Affordable housing segment (below Rs 50 lakh) continued to be the hot pick in the sector with more than half of the total sales of apartments in this segment. 
 

	The share, however, has declined over the past 10 quarters, from a high of 58 per cent in the first quarter of financial year 2013-14 to 52 per cent in the third quarter of this fiscal. 
 Commenting on the report, company's CEO and co-founder, <keyword id="278771" type="PERSON" weightage="20" keywordseo="Dhruv-Agarwala">Dhruv Agarwala</keyword> said: "The rise in sales, <keyword id="149554" type="UNKNOWN" weightage="20" keywordseo="real-estate-prices">real estate prices</keyword> and new launches, and the decline in inventory overhang suggests that the revival is round the corner." "If the <keyword id="6354679" type="ORGANIZATION" weightage="20" keywordseo="GST">GST</keyword> and Real Estate Regulatory Bill gets a nod from Parliament, it is expected to restore consumer confidence in real estate, further triggering the expected revival," he added. 

	Real estate's grave concern of unsold inventory finally seems to be declining, at least for new projects, with sales in new projects rising by 23 per cent when compared to the sales in existing projects, which grew by 3 per cent, the report said. 
 

	Mumbai, Bengaluru and Noida have the most unsold inventory, accounting for almost 60 per cent of the total unsold inventory across the key nine cities. 

	 
	Inventory overhang declined in the third quarter of the current fiscal by two months to reach 35 months, driven by rise in sales. 
 

	PropTiger.com offers a one-stop platform to home buyers and by using this platform, a homebuyer can search for homes, shortlist, visit, finalise, arrange home loans or legal services and finally, buy the property.

You Searched For "noida mumbai kolkata" and got 14 results

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