Increased cost for Bengaluru-Mysuru Expressway travel from July 1
Equity investments in real estate to cross $10-11 billion in 2024
Equity capital inflows touched $8.9 billion between January and September 2024, registering a 46% year-on-year growth. Anshuman Magazine, chairman and CEO - India, South-East Asia, Middle East & Africa, CBRE said, "Projection for 2024 equity investments between USD 10 -11 billion, highest-ever, underscores continued investor interest in the growing real estate market in India. However, with SEBI's SM REIT framework, smaller but high-quality assets in tier-II markets will also present new avenues for strategic capital deployments." The average deal size also increased to nearly $45 million in t..
Himachal HC orders closure of 18 HPTDC loss making prime hotels
Observing that the Himachal Pradesh Tourism Development Corporation(HPTDC) has failed to come up with any convincing and practical measures to augment its resources despite repeated court orders, the Himachal Pradesh high court ordered closure of 18 loss making prime hotels of the corporation, including The Palace Hotel in Chail, from November 25 across the state. During the resumed hearing of a petition highlighting non-release of the retiral benefits to pensioners by the HPTDC on Tuesday, Justice Ajay Mohan Goel observed, “In fact, when this court firstly took up the issue and passed a det..
Average home prices in cities at Rs 123 Mn in H1 FY25: Report
The average ticket size of homes sold across seven cities is approximately Rs 123 million in H1 FY25. Anuj Puri, chairman, Anarock Group said, "Over 2,27,400 units worth approximately Rs 2793 billion were sold across the top seven cities between April and September 2024. Contrastingly, the corresponding period of FY2024 saw about 2,35,200 units worth Rs 2358 billion being sold. Despite a 3% drop in overall unit sales, the total sales value outstripped that of a year ago by 18% - clearly underscoring the unrelenting demand for luxury homes."The data reveals that NCR saw the highest average tick..