(CREDAI-MCHI, NATIONAL, MMR)
29th June 20
Real estate industry may take up to a year to recover, says study
The battered and bruised real estate industry will take about a year to get back on its feet, according to a recent study.
The demand for residential real estate could show signs ofpick-up in six to 12 months once the pandemic settles, and buyers will prefer smart homes and integrated townships in the post-COVID-19 world, according to the research paper by Savills India.
The Report 2020-2025 Global IT in Real Estate Market Report Industry analyses the important factors of this market based on present industry situations, market demands, business strategies utilized by IT in Real Estate market players and their growth synopsis. This report divides based on the key players, Type, Application and Regions are Mentioned Below.
The Financial Express
Real estate sector braces for turnaround
A latest study released by Data Bridge Market Research on Global Real Estate Software For Builders And Real Estate Agents Market covering key business segments and wide scope geographies to get deep dive analysed market data. The angles and data of the report utilizing figures, structured presentations, pie graphs, and other visual portrayals. This escalates the Real Estate Software For Builders And Real Estate Agents Market pictorial portrayal and furthermore helps in getting the Real Estate Software For Builders And Real Estate Agents Market business actualities much better. The Real Estate Software For Builders And Real Estate Agents Market advertise is probably going to develop at a noteworthy CAGR. Some are the key & emerging players that are part of coverage and have being profiled are Yardi Systems Inc., Microsoft, SAP SE, RealPage Inc., IBM Corporation, MRI Software LLC, Oracle, Salesforce.com Inc., Accenture, Sage Group plc, Radici, Partecipazioni SpA, Cisco, Infosys, Infor Global Solutions, Xerox, Nuxeo, Alfresco Software, Inc among other domestic and global players
Corporate Real Estate Brokers Monopolizing Real Estate Brokerage
Corporate Real Estate brokers which includes some capital market players, housing finance companies, Property listing portals as well as some big time share brokers have enrolled in MAHA RERA and registered as Real Estate Brokers. Few names of corporate broker includes :
New Delhi [India], June 27 (ANI/NewsVoir): The outbreak of COVID-19 pandemic has put real estate deals on hold across the world but the sector is hopeful and poised for recovery as early as the fourth quarter of 2020.
Real estate experts are anticipating that huge pent up demand created due to the ongoing lockdown will propel prices and push commercial real estate towards an upward trajectory.
As per the recent industry reports, the commercial real estate is said to be the pre-eminent sector and also the least impacted with 90 per cent of rent collection during the lockdown period. It is believed that once the vaccine is invented in FY21, there could be the absorption of 25-28 msf (meter square feet), with steady demand for rentals.
CNBC TV 18
The demand for office space across seven major cities is likely to drop around 30 per cent this year from record leasing in 2019 as corporates have deferred expansion plans due to the COVID-19 pandemic, JLL India CEO and Country Head Ramesh Nair said.
JLL India, part of US-based JLL, is a leading property consultant with a turnover of over Rs 4,000 crore in the last financial year.
In an interview with PTI, Nair said, "We expect office space leasing to fall by around 30 per cent during 2020. Supply will also drop by 30-40 per cent as speculative construction will stop."
Hit by the coronavirus pandemic, real estate developers have resorted to layoffs and pay cuts and are focusing on cost control measures as sales are likely to remain muted in the coming months, according to industry experts.
The real estate sector has been facing headwinds since the past three-four years following demonetisation, RERA and GST rollout as well as delays in approvals. The Covid-19 crisis has further impacted market sentiment and sales.
PNB to sell real estate
However, the bank intends to sell some of its real estate assets and properties, including its old headquarter building.
“We have a lot of real estate assets because of the merger (of UBI, Oriental bank with the bank). We are planning to sell some of them. We are planning to sell a good amount of these assets by the end of the third quarter provided the market is available. We will not be selling at a discounted price,” he said.
PNB has a number of associates like PNB Housing Finance Ltd with a 32.65 per cent stake and PNB MetLife with 30 per cent shares.
There are no plans to sell non-core assets, including subsidiaries, in the current financial year, Punjab National Bank managing director S S Mallikarjuna Rao has said.
However, the bank intends to sell some of its real estate assets and properties, including its old headquarter building, he told PTI in an interview.
"We have a lot of real estate assets because of the merger. We are planning to sell some of them. We are planning to sell a good amount of these assets by the end of the third quarter provided the market is available. We will be not selling at a discounted price," he said.
Real estate companies that opted for lower GST rates of 1 per cent and 5 per cent from April 1, 2019, but could not procure 80 per cent of the total supplies from registered dealers, will have to pay tax on the shortfall in such procurement by June 30.
The GST Council had allowed real estate players to shift to 5 per cent GST rate for residential units and 1 per cent for affordable housing without the benefit of input tax credit (ITC) from April 1, 2019.
BENGALURU : Construction of a large number of real estate projects across cities has not restarted even after lockdown restrictions were lifted due to a severe liquidity and labour shortage that developers are facing.
While the labour shortage may be resolved in the coming months, the capital shortage is likely to linger much longer, that may induce a spiral effect leading to delay in possession of homes, cash flow issues and significant rise in cost of capital.
Fractional real estate investment: What is it and how to make money – Explained
This week's Realty Hot Spot Series takes a look at Hyderabad's Gachibowli locality. Gachibowli is located in the north-western part of Hyderabad. The area has presence of leading information technology companies and is well-connected by road and rail. Reowned educational institutions such as ISB, University of Hyderabad and IIIT are also located in the area.
The price range of properties here is Rs 3,900-8,500 per square feet. The average price of a 2-BHK, 3-BHK and 4-BHK is Rs 65 lakh, ..
Commercial realty deal volumes sink by 94 percent in January-May
NEW DELHI: The number of commercial investment transactions in India fell 94% year-on-year in the first five months of 2020, the most among Asia-Pacific countries (APAC), according to a report by property consultant Knight Frank.
The report, titled ‘Recovery from COVID-19’, said commercial investment transactions, including investments of big funds and high net worth individuals (HNIs) in commercial properties in APAC, fell 52% year-on-year in terms of value to $44.1 billion.
Realty companies have time till Jun 30 to pay GST on shortfall in input procurement from dealers
NEW DELHI: Real estate companies that opted for lower GST rates of 1 per cent and 5 per cent from April 1, 2019, but could not procure 80 per cent of the total supplies from registered dealers, will have to pay tax on the shortfall in such procurement by June 30. The GST Council had allowed real estate players to shift to 5 per cent GST rate for residential units and 1 per cent for affordable housing without the benefit of input tax credit (ITC) from April 1, 2019.
Times of India
Nashik: Property tax payers will get up to 5% concession, as against the 3% concession offered by the civic administration earlier, if they clear the tax dues by Tuesday. Those who pay the property tax online will get 1% more concession apart from the 5% already in the offing.
Those who clear the property tax by July will get a 3% concession while those who pay the property tax by August 31 will get a concession upto 2%.
Earlier, the Nashik Municipal Corporation (NMC) had introduced concession in annual property tax if the payment was made between April and July. But now, the concession in property tax payment has been extended till August 31.
BANK, FINANCE NEWS
Times of India
Mumbai:SBI chairman Rajnish Kumar said that the lender, which until now was chasing home loans because of the security they offered, is shifting focus to micro, small and medium enterprises (MSMEs). The availability of data and technology in the form of analytics has made it easier to automate lending decisions to the sector, which until now posed challenges.
“For the bank, housing loan had become the most popular product as it was safe to lend. I am now shifting focus. We appointed 90 deputy general managers across the country, whose primary focus is MSMEs,” said Kumar at an online CII event on small and medium enterprises on Saturday.
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