Real Estate News

TDR: Balancing Development and Preservation in Real Estate

he world of real estate is full of acronyms, and TDR is one that can leave you scratching your head. But fear not, fellow property enthusiasts! Today, we’ll break down what TDR stands for and how it plays a crucial role in shaping our cities.

TDR stands for Transfer of Development Rights. Essentially, it’s a zoning tool used by governments to manage urban growth and protect designated areas. Here’s how it works:

  • Land with Restrictions: Imagine a plot of land earmarked as a historical landmark or a critical wildlife habitat. Building a massive skyscraper there wouldn’t be ideal. This land has restricted development rights.
  • The Transfer: The owner of this restricted land can’t necessarily build a shopping mall on it. However, TDR allows them to transfer the development rights to another location, typically designated by the authorities.
  • Building Up Elsewhere: A developer looking to build a high-rise in a designated “receiving area” can purchase these transferred development rights. This allows them to exceed the usual building height limitations in that area, creating denser development.

Benefits of TDR

Preserves Valuable Land: TDR helps conserve historically significant areas, environmental zones, and open spaces that contribute to a city’s character and well-being.

Smarter Development: By encouraging denser development in designated areas, It promotes efficient use of land and infrastructure.

Compensation for Landowners: Landowners with restricted development can benefit financially by selling their TDRs.

Things to Consider

  • Market Fluctuations: value of this can fluctuate depending on demand in receiving areas.
  • Implementation Challenges: Establishing fair TDR programs and ensuring smooth transactions can be complex.

Overall, TDR is a powerful tool for sustainable urban development. It allows for controlled growth while safeguarding valuable land. So, the next time you see a historical building or a beautiful park amidst a bustling city, remember, It might have played a part in keeping it there.

DLF Q4 Results: Strong Showing Fueled by Housing Sales

DLF, India’s largest real estate developer by market capitalization, recently released its Q4 results for the financial year 2023-24. The report painted a positive picture, with a significant surge in net profit and promising trends for the future.

Profit Soars on Robust Sales

DLF’s net profit for Q4 witnessed a remarkable 62% increase compared to the same period in the previous year. The figure jumped from ₹570.01 crore to a robust ₹920.71 crore, reflecting a strong financial performance. This upswing can be primarily attributed to a surge in housing sales during the quarter.

DLF’s total income also saw a significant rise, climbing to ₹2316.70 crore in Q4, compared to ₹1,575.70 crore in the corresponding quarter of the previous fiscal year. This 47% increase signifies a healthy growth trajectory for the company. Similarly, total income for the entire financial year 2023-24 reached ₹6,958.34 crore, up from ₹6,012.14 crore in the preceding year.

Dividend Distribution and Leadership Changes

DLF announced a dividend of ₹5 per share for FY 2023-24, subject to shareholder approval. This move demonstrates the company’s confidence in its financial standing and its commitment to rewarding its investors. Additionally, DLF announced the appointment of Ashok Kumar Tyagi as the new Managing Director, taking over from Vivek Anand who stepped down in February 2024.

DLF’s Q4 results highlight the company’s strong performance in the residential segment. With a robust annuity portfolio exceeding 42 million square feet and an annual rental income of around ₹4,000 crore, DLF is well-positioned for sustainable growth. The company’s focus on developing new projects and its commitment to customer satisfaction bode well for its future endeavors.

Financial experts are generally optimistic about DLF’s performance. The company’s strong Q4 showing and its focus on key growth areas are positive indicators for investors. However, it’s important to stay updated on market trends and conduct thorough research before making any investment decisions.

DLF Q4 results offer a compelling view of the company’s financial health. The surge in profits, rising revenue, and focus on customer satisfaction paint a promising picture for the future. While staying informed about market conditions is crucial, DLF’s recent performance suggests a positive outlook for investors considering the real estate sector.

Godrej Properties Gears Up for Growth: Rs 30,000 Crore Investment

Godrej Properties, a leading name in the Indian real estate market, has announced a bold move – launching housing projects worth a staggering Rs 30,000 crore in the upcoming fiscal year (FY25). This ambitious plan, spearheaded by Executive Chairperson Pirojsha Godrej, signifies the company’s confidence in the burgeoning Indian housing market and its own growth potential.

Godrej Properties Capitalizing on Strong Demand

The Indian real estate sector has witnessed consistent growth in recent years, driven by factors like increasing urbanization, a growing young population, and a robust economy. This positive momentum is what Pirojsha Godrej aims to capitalize on with this massive investment.

The Rs 30,000 crore investment will be strategically distributed across major Indian cities, catering to the diverse needs and preferences of homebuyers. According to reports, Godrej Properties plans to launch projects in Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, and Hyderabad. This multi-city approach ensures a wider reach and caters to the burgeoning demand for quality housing in these key markets.

Godrej Properties, known for its commitment to quality and innovation, intends to create a substantial inventory of new housing options with this investment. This not only addresses the growing demand for housing but also ensures that potential buyers have access to well-designed, well-constructed living spaces that meet contemporary standards.

While launching new projects is a key focus, Godrej Properties also emphasizes the importance of completing ongoing projects and delivering them on time. Additionally, the company plans to continue acquiring land parcels for future development, ensuring a steady pipeline of projects in the years to come.

Positive Outlook for Sales Bookings

Pirojsha Godrej, confident about the company’s strategy, has projected sales bookings of Rs 27,000 crore for FY25, a 20% increase from the previous year. This ambitious target reflects the company’s optimism about market conditions and its ability to capitalize on the growing demand for quality housing.

This significant investment by Godrej Properties is expected to have a positive ripple effect on the Indian real estate market. It could lead to increased competition, potentially driving innovation and improved quality standards across the industry. Additionally, it could create job opportunities in the construction sector and other related industries.

Godrej Properties’ ambitious investment plan paints a promising picture for the company’s future. It signifies not only the company’s belief in the Indian real estate market but also its commitment to providing quality housing solutions to a growing segment of the population. With a strategic approach, a focus on customer needs, and a commitment to quality, Godrej Properties is well-positioned to capitalize on the current market trends and achieve its ambitious growth goals.

Global City Project: A Dream or Reality?

Gurugram, Haryana’s city, is set for a significant transformation with the Global City project receiving environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEF). This ambitious project, spearheaded by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), promises to be a game-changer for the region’s economic landscape.

What is the Global City Project?

Envisioned as a 1,000-acre mega-development, Global City will encompass a diverse range of zones:

  • Residential areas: Catering to the growing demand for housing in Gurugram.
  • Industrial clusters: Providing a hub for businesses and fostering economic activity.
  • Commercial zones: Creating a vibrant space for retail, offices, and other commercial ventures.

The project is divided into phases, with the initial focus on developing infrastructure in a designated 587-acre area. This phase aims to establish essential utilities like roads, electricity, and water supply by December 2026, with an estimated investment of Rs 940 crore.

Significance of the Environmental Clearance

The environmental clearance granted by MoEF is a critical milestone for the Global City project. It signifies that the project’s potential environmental impact has been assessed and deemed manageable. This approval paves the way for:

  • Seamless project growth: The green light from MoEF removes a significant hurdle, allowing the project to progress without delays related to environmental concerns.
  • Faster construction: With environmental considerations addressed, construction activities can be expedited, bringing the project to fruition sooner.
  • Investor attraction: The environmental clearance enhances the project’s credibility and attractiveness to potential investors and development partners, potentially leading to increased funding and expertise.

Potential Benefits and Challenges

The Global City project has the potential to bring numerous benefits to Gurugram, including:

  • Job creation: The project is expected to generate significant employment opportunities during both construction and operational phases.
  • Economic boost: The influx of businesses and residents will stimulate economic activity in the region.
  • Infrastructure development: The project will necessitate improved infrastructure, which will benefit the entire city.

However, large-scale development projects also come with potential challenges that need to be addressed:

  • Environmental impact: Construction and development can have negative consequences on the environment. Careful monitoring and mitigation strategies are crucial.
  • Traffic congestion: The influx of residents and commercial activity could exacerbate traffic woes in Gurugram. Proper urban planning and the development of sustainable transportation options are essential.
  • Social impact: Large-scale projects can lead to the displacement of existing communities. Responsible resettlement and rehabilitation plans are necessary.

DDA flats 2023: 5,500 flats in Delhi To Open For Registration Today. How to Apply

DDA housing scheme 2023: According to senior DDA officials, EWS and LIG are being given more priority in this housing scheme. The Delhi Development Authority (DDA) on Friday will open the online registration procedure for over 5,500 flats as part of its Phase IV housing programmed. Under the scheme, registration will be open for 40 High Income Group (HIG) flats in Jasola, 200 Middle Income Group (MIG) flats in Dwarka and Narelle. At the same time, along with 900 Economically Weaker Section (EWS) flats in Narelle, registration can be done for a total of 4,400 Low Income Group (LIG) houses in Loknayak Puram, Rohini, Sira spur and Narelle, according to a report be Live Hindustan. According to senior DDA officials, EWS and LIG segment are being given more priority in this housing scheme. Flat prices have been fixed for these with discounts. Applicants for booking and registration of EWS flat will have to provide income certificate of the entire family for less than ₹10 lakh. Read here: DDA’s 5,000 flats up for grabs, apply starting June 30 | Prices and options According to the report, the potential flat buyers would be given a five-day window after July 10, to tour sample flats at each location and book their preferred unit. Booking amount: According to the DDA official, EWS category people can book the flat by giving ₹50,000 as booking amount, LIG in ₹1 Lakh, MIG in ₹4 Lakh while, HIG can book the flat in ₹10 Lakh. Cost of flats: The price of HIG flats in Jasola Vihar ranges from ₹2.08 crore to ₹2.18 crore. The price of MIG flat in Dwarka ranges from ₹1.25 crore to ₹1.35 crore. While the cost of LIG flats in Narelle and Rohini is ₹15 lakh, ₹17 lakh in Sira spur and ₹30 lakh in Lok Nayak puram. Fill out the online application form with personal information Upload the required documents with the application form. Pay the application fee after completing the form and uploading all the documents. Once the payment is done, note down the application number for future references.

‘You Cheated Home Buyers, Deserve No Sympathy’: SC Rejects Bail Plea of Former Amrapali Director

“You have cheated thousands of home buyers. You siphoned off their hard-earned money and their life savings. You do not deserve any sympathy,” the bench said. The Supreme Court has rejected the bail plea of former CMD of Amaral Group of Companies Anil Kumar Sharma, saying he cheated thousands of home buyers and did not deserve any sympathy. A bench comprising Justices Ajay Rastogi and Bela M Trivedi refused to issue notice to the prosecuting agency on the bail plea of Sharma, who has been in jail for over four years in the case. “You have cheated thousands of home buyers. You siphoned off their hard-earned money and their life savings. You do not deserve any sympathy,” the bench said on Thursday. The former CMD of the real estate group and other directors of the firm were arrested on the direction of the top court after the forensic audit report revealed that a large amount of home buyers’ money was siphoned off by the management. It said the offence ran “very deep” and even the court was facing difficulties in tackling the problem. “Yours is not a case of simple cheating. See the plight of thousands of home buyers. You cannot have our sympathy. You better enjoy being in jail… This court is very aware of what you did. You created the mess and we are not able to find a way out of it. A large number of home buyers are suffering,” the bench said.

Earlier, The Top Court Had Granted Sharma Interim.

bail for a few weeks on medical grounds in the case. Sharma and others have been in jail after their arrest in 2018 for various offences, including that of cheating, criminal breach of trust and money laundering and have spent nearly four years in prison. They have been accused of siphoning home buyers money. The apex court, in its July 23, 2019 verdict, had cracked down on errant builders for breaching the trust reposed by home buyers and ordered the cancellation of registration of the Amaral Group under real estate law RERA and ousted it from prime properties in the national capital region (NCR) by nixing the land leases. The top court had directed a probe by the Enforcement Directorate (ED) into alleged money laundering by realtors, providing relief to over 42,000 home buyers of the Amaral Group with the verdict.Besides ED, the Economic Offence Wing (EoW) of the Delhi Police and the Serious Fraud Investigation Office (SFIO) has also been investigating various cases lodged against the former officials of the real estate group.

The Real Estate Market Is Anticipated To Remain Vigorous As RBI Holds Key Loan Costs Consistent, Say Real Estate Agents

Lodging deals in January-Walk 2023 penetrated the one lakh mark at 1.14 lakh units across the main 7 urban communities, said Land expert Antilock Director. Land industry anticipates that lodging request should areas of strength for stay the RBI keeping key loan fee unaltered and is confident about a repo rate cut in next round of money related strategy to support development. The Hold Bank of India (RBI) on Thursday chose to keep the repo rate unaltered at 6.5 percent. Remarking on the turn of events, CREDAI Public President Bowman Iran said, “… We expect both lodging market interest to support its continuous force.” “Nonetheless, considering that the expansion is at a 18-month low, there is degree for the RBI to lessen repo rates in the impending MPC gatherings, to invigorate development across all enterprises,” Irani added. Naredco President Rajan Bandelkar hailed the RBI move, saying it will help the lodging area that has been performing great from the beyond two years. “Regardless, the area required declarations that could additionally fuel the development,” he added. With the happy season in tailwinds, Naredco Bad habit Director Niranjan Hiranandani said a break in loan cost climb would help deals speed. Land specialist Anarock Executive Anuj Puri said, “The unaltered repo rate can assist with keeping up with the energy in lodging deals, which has so far been terminating on all chambers in 2023.” Lodging deals in January-Walk 2023 penetrated the one lakh mark at 1.14 lakh units across the main 7 urban areas, he added. Realty firm Mark Worldwide Executive Pradeep Aggarwal said this exhibits a positive expectation towards supporting the real estate market and helping homebuyers. “…The stop in rate climbs will impart a feeling of positive thinking among borrowers and we anticipate that the lodging deals energy should proceed,” India Sotheby’s Global Realty MD Amit Goyal said. Atul Banshal, Chief Money, Omaxe Ltd, trusted that the RBI would pick a strategy rate decrease in the following survey meeting. Knight Plain India CMD Shishir Baijal said, “We accept that this the norm will work with positive decision-production for homebuyers.” Colliers India Head of Exploration Vimal Nadar said, “as home credit rates are now at raised degrees of 9% or more, this is a critical breather for moneylenders, designers and homebuyers.” Savills India President Anurag Mathur said home advance EMIs will stay unaltered in the close term, prompting supported request across different lodging classifications.

DDA to Open Registration For Over 5,500 Flats Tomorrow. How To Apply

DDA housing scheme 2023: According to senior DDA officials, EWS and LIG are being given more priority in this housing scheme. The Delhi Development Authority (DDA) on Friday will open the online registration procedure for over 5,500 flats as part of its Phase IV housing programmed. Under the scheme, registration will be open for 40 High Income Group (HIG) flats in Mazola, 200 Middle Income Group (MIG) flats in Dwarka and Narelle. At the same time, along with 900 Economically Weaker Section (EWS) flats in Narelle, registration can be done for a total of 4,400 Low Income Group (LIG) houses in Loknayak Puram, Rohini, Sir spur and Narelle, according to a report be Live Hindustan. According to senior DDA officials, EWS and LIG segment are being given more priority in this housing scheme. Flat prices have been fixed for these with discounts. Applicants for booking and registration of EWS flat will have to provide income certificate of the entire family for less than ₹10 lakh.

According To The Report, The Potential Flat Buyers.

would be given a five-day window after July 10, to tour sample flats at each location and book their preferred unit. According to the DDA official, EWS category people can book the flat by giving ₹50,000 as booking amount, LIG in ₹1 Lakh, MIG in ₹4 Lakh while, HIG can book the flat in ₹10 Lakh. Cost of flats:
The price of HIG flats in Jasola Vihar ranges from ₹2.08 crore to ₹2.18 crore. The price of MIG flat in Dwarka ranges from ₹1.25 crore to ₹1.35 crore. While the cost of LIG flats in Narelle and Rohini is ₹15 lakh, ₹17 lakh in Siraspur and ₹30 lakh in Lok Nayakpuram. How to apply for the DDA Housing Scheme:
Visit the Delhi Development Authority’s (DDA) official website at www.dda.gov.in. Fill out the online application form with personal information. Upload the required documents with the application form. Pay the application fee after completing the form and uploading all the documents. Once the payment is done, note down the application number for future references.

Housing Market Predicted To Stay Robust As RBI Holds Key Interest Rate Steady, Say Realtors

Housing sales in January-March 2023 breached the one lakh mark at 1.14 lakh units across the top 7 cities, said Real estate consultant Anarock Chairman. Real estate industry expects housing demand to remain strong with the RBI keeping key interest rate unchanged and is hopeful for a repo rate cut in next round of monetary policy to boost growth. The Reserve Bank of India (RBI) on Thursday decided to keep the repo rate unchanged at 6.5 per cent. Commenting on the development, CREDAI National President Boman Irani said, “… We expect both housing supply and demand to sustain its ongoing momentum.” “However, given that the inflation is at an 18-month low, there is scope for the RBI to reduce repo rates in the upcoming MPC meetings, to stimulate growth across all industries,” Irani added. Naredco President Rajan Bandelkar hailed the RBI move, saying it will help the housing sector that has been performing well from the past two years.”Nonetheless, the sector needed announcements that could further fuel the growth,” he added.With the festive season in tailwinds, Naredco Vice Chairman Niranjan Hiranandani said a hiatus in interest rate hike would boost sales velocity. Real estate consultant Anarock Chairman Anuj Puri said, “The unchanged repo rate can help maintain the momentum in housing sales, which has so far been firing on all cylinders in 2023.”

Housing Sales in January-March 2023 Breached.

the one lakh mark at 1.14 lakh units across the top 7 cities, he added. Realty firm Signature Global Chairman Pradeep Aggarwal said this demonstrates a positive intent towards supporting the housing market and benefiting homebuyers “…The pause in rate hikes will instil a sense of optimism among borrowers and we expect the housing sales momentum to continue,” India Sotheby’s International Realty MD Amit Goyal said. Atul Bansal, Director-Finance, Omaxe Ltd, hoped that the RBI would opt for a policy rate reduction in the next review meeting. Knight Frank India CMD Shashi Baikal said, “We believe that this status quo will facilitate positive decision-making for homebuyers.” Colliers India Head of Research Vimal Nadar said, “as home loan rates are already at elevated levels of 9 per cent and above, this is a significant breather for lenders, developers & homebuyers.” Savills India CEO Anurag Mathur said home loan EMIs will remain unchanged in the near-term, leading to sustained demand across various housing categories.

Real Estate in Delhi-NCR To Grow Exponentially In 2023: Report

A survey conducted by R&R By Rise showed that the mood of the buyers clearly points to good times for the real estate segment in Delhi-NCR. The real estate market in Delhi-NCR is expected to grow exponentially in 2023, with some interesting trends shaping the future of Delhi, Gurgaon, Noida and the periphery areas that are all gaining traction like never before. Real estate continues to be the best investment option in Delhi-NCR, with approximately 40 per cent preferring it over other investment options. R&R By Rise conducted a survey of potential real estate buyers in Delhi-NCR recently. The findings clearly highlight the fact that the Delhi-NCR realty is going to surprise one and all with growth beyond everyone’s expectations. The mood of the buyers clearly points to good times for the real estate segment in the region. A number of factors are driving this success, including stable prices, decent interest rate, strong economic growth, favorable demographics, and an increase in foreign investment. Vishesh Prakash, Research Partner, says, “As the world gets ready to get back to the furious growth path, one clear indication that the Delhi-NCR buyers have given is that they’re looking at real estate as a means to a meaningful and a healthy lifestyle. An overwhelming number of buyers indicated that they’re now ready to take first steps towards buying their first home. A large number of home owners also indicated they are looking to upgrade to bigger and better homes. These responses clearly point to an emergence of a real estate buying class that’s making home buying and investment decisions an intrinsic part of their future well-being.”

One Of The Key Findings Of the Survey That Emerged.

points to the millennial population being a key player in growing real estate market in Delhi-NCR. Those aged between 30-44 years, are driving the demand for both, residential and commercial real estate. Over 70 per cent respondents indicated that they are looking at buying a home in the next couple of years. Demand for residential realty precedes commercial, with 45 per cent respondents looking at picking up residential, and 35 per cent looking at tapping into commercial spaces respectively. Around 46 per cent of the respondents indicated that they are looking to pick up their first homes in the next two years. Over 29 per cent plan to upgrade from their current homes into bigger better space, with more lifestyle and wellness amenities. The demand for 2-3 BHK witnesses great traction with 65 per cent opting for either of the two options. Real estate assets and investment vehicles will be created for the sole purpose of investing and making money, and this trend will dominate the market. In fact, commercial real estate, which generates income in the form of rentals, ROIs, and income-producing properties, has also become a sought-after investment option. Infrastructure spending on roads, metro connectivity and other such amenities have given a further impetus to the real estate ecosystem in India. Besides, foreign investment in Indian real estate is also playing a major role in keeping the India real estate market buoyant.

Key Highlights

  • Real estate in Delhi-NCR and its peripheries to be the centre of attraction as far as the demand is concerned.- Millennials planning to invest in realty will drive the 2023 real estate market, both residential and commercial.- Demand for residential realty precedes commercial, 45 and 35 per cent respectively.- The percentage of first-time buyers goes up to 46 per cent, while percentage of those who want to upgrade to bigger spaces goes up by 29 per cent.- Demand for 2-3 BHK witnesses great traction with 65 per cent opting for either of the two options.

This story has been provided by Newsier. ANI will not be responsible in any way for the content of this article. (ANI/News Voir)

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