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Newsletter 29th June 20

DAILY NEWSLETTER

(CREDAI-MCHI, NATIONAL, MMR)

MONDAY

29th  June 20

 

 

NATIONAL NEWS

 

The Hindu

 

Headline

Real estate industry may take up to a year to recover, says study

 

Link:
https://www.thehindu.com/news/cities/mumbai/real-estate-industry-may-take-up-to-a-year-to-recover-says-study/article31936403.ece

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.

 

3w Market News Report

Headline:

IT in Real Estate Market Growth, Analysis of Key Players, Trends, Drivers

Link:

https://3wnews.org/business-opportunity/1713340/it-in-real-estate-market-growth-analysis-of-key-players-trends-drivers/

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

 

Headline:

Real estate sector braces for turnaround



Link:

https://thefinancialexpress.com.bd/views/real-estate-sector-braces-for-turnaround-1593274144

Before Covid-19 hit the country, all activities in the real estate sector including construction, promotion and sales were encouraging. The upward trend of investment continued further in the 2020 when the amount of advances was recorded at around Tk 800 billion.

Now, it is getting difficult for the realtors to maintain relation with their clients, as many of them are unable to pay instalments, while the house builders cannot hand over flats within the stipulated time.

Most of the activities related with the sector have been suspended due to Covid-19 pandemic. Such a deadlock in such a vital sector has already resulted in unemployment of a huge number of people, and created uncertainty over massive investments.

 

Cole Reports

 

Headline:

Real Estate Software For Builders And Real Estate Agents Market Overview with Detailed Analysis, Competitive landscape, Forecast to 2027 | Yardi Systems Inc., Microsoft, SAP SE, RealPage Inc., IBM Corporation



Link:

https://coleofduty.com/news/2020/06/27/real-estate-software-for-builders-and-real-estate-agents-market-overview-with-detailed-analysis-competitive-landscape-forecast-to-2027-yardi-systems-inc-microsoft-sap-se-realpage-inc-ibm-cor/

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

 

 

Accommodation Times

Headline:

Corporate Real Estate Brokers Monopolizing Real Estate Brokerage

 

Link:

https://accommodationtimes.com/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 :

 

Business World

 

Headline:

Commercial Realty Will Leap Back To Normal By Q4: Experts

 

Link:

http://www.businessworld.in/article/Commercial-realty-will-leap-back-to-normal-by-Q4-Experts/27-06-2020-291716/

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

 

Headline:

Office space leasing may fall 30% in 2020; rentals to remain stable: JLL India CEO

Link:

https://www.cnbctv18.com/real-estate/office-space-leasing-may-fall-30-in-2020-rentals-to-remain-stable-jll-india-ceo-6212731.htm

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."

 

Hindustan Times

Headline:

Real estate developers resort to layoffs, pay cuts as Covid-19 hits sales

Link:

https://www.hindustantimes.com/real-estate/real-estate-developers-resort-to-layoffs-pay-cuts-as-covid-19-hits-sales/story-eJBSu8BHmlULLtUxfNRALN.html

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.

 

The Telegraph

Headline

PNB to sell real estate

Link:

https://www.telegraphindia.com/business/punjab-national-bank-to-sell-real-estate/cid/1784543

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.

Business Stadard

 

Headline:

No plans to sell non-core assets, sale of real estate on cards: PNB Chief

 

Link:

https://www.business-standard.com/article/companies/no-plans-to-sell-non-core-assets-but-real-estate-sale-on-cards-pnb-chief-120062800445_1.html

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.

 

Live Mint

Headline:

Realty cos have time till Jun 30 to pay GST on shortfall in input procurement from dealers

Link:

https://www.livemint.com/news/india/realty-cos-have-time-till-jun-30-to-pay-gst-on-shortfall-in-input-procurement-from-dealers-11593339441469.html

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.

Live Mint

 

Headline:

Covid impact: Capital, labour crunch stall restarting of realty projects

Link:

 https://www.livemint.com/companies/news/covid-impact-capital-labour-crunch-stall-restarting-of-realty-projects-11593346980628.html

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.

 

Economic Times

Headline:

Fractional real estate investment: What is it and how to make money – Explained

 

Link:

https://economictimes.indiatimes.com/wealth/real-estate/realty-hot-spot-series-this-hyderabad-locality-is-perfect-for-it-workers/articleshow/76658830.cms

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, ..

 

Financial Express

 

Headline:

Commercial realty deal volumes sink by 94 percent in January-May
 

Link:

https://economictimes.indiatimes.com/industry/services/property-/-cstruction/commercial-realty-deal-volumes-sink-by-94-percent-in-january-may/articleshow/76679150.cms

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.

 

Economic Times

 

Headline:

Realty companies have time till Jun 30 to pay GST on shortfall in input procurement from dealers
 

Link:

 

https://economictimes.indiatimes.com/industry/services/property-/-cstruction/realty-companies-have-time-till-jun-30-to-pay-gst-on-shortfall-in-input-procurement-from-dealers/articleshow/76673096.cms

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

 

Headline:

Up to 5% off if realty tax paid by Tuesday


Link:

https://timesofindia.indiatimes.com/city/nashik/up-to-5-off-if-realty-tax-paid-by-tuesday/articleshow/76678590.cms

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

Headline

SBI will focus on lending to MSMEs, says chairman

Link:

https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIM%2F2020%2F06%2F29&entity=Ar01501&sk=72A02F2E&mode=text

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.

 

 

 

 

UPCOMING EVENT

 

 

 

CREDAI-MCHI E-BIZNET

 

01st July to 4th July 2020

Business is Just a Click Away 

Biznet is taking a giant digital leap for it's glorious 7th Edition.

For the 1st time ever, this networking platform will take place on the Internet : E-Biznet

 

Highlights:

# 700 Developers in 5 Days (200+ in 1 Day)

Mark your calendars and book your spot now!

 

 

 

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