The novel coronavirus (Covid-19) outbreak has further aggravated the stress in the beleaguered real estate sector, with apartment sales declining 42% year-on-year and 24% on a quarterly basis so far in the January-March 2020 quarter. Sales are largely concentrated in big cities like Delhi, Mumbai, Bengaluru and Pune. According to […]
ICRA Opines That Corona Virus Lock Down Will Come Down Hard On NBFCs
The 21-day lockdown across the country is set to hit non-banking financial companies (NBFCs) hard as small business owners and low-income households find it hard to service their loans. NBFC loans in the affordable housing, small and medium enterprises (SMEs), loan against property (LAP), real estate and microfinance (MFI) segments […]
MNC Tenants With Back-Office Realty To Be Least Affected By The Virus
Commercial real estate catering to back-office operations for multinationals is expected to be the least affected by the current economic crisis triggered by the coronavirus pandemic. This is because the tenants are financially strong multinationals, spending only a fraction of their expenses on rent even as they gain by the […]
Corona Virus Will Actually Succeed In Giving A Body Blow To The Prices Of Mumbai Real Estate. Something Which No One Has Achieved Before
Ebrahim Mukadam purchased a 2BHK flat in an under-construction project called Godrej Central in Mumbai around five years ago. He bought the flat for Rs 2.05 crore. Today, as he looks to sell the ready apartment, the quoted price is roughly Rs 1.80-1.85 crore. The project itself has been shabbily […]
Realtors Opt For Digital Channels For Launches
Realty developers are now marketing their new launches using digital channels even as the outbreak of Covid-19 and the expected lower number of homebuyer visits at their sales offices offer no respite. Some large developers like Godrej Properties, Total Environment Building Systems and Prestige Group have launched digital site tours, email document confirmations and verifications […]
Real Estate Sector Applauds RBI’s Decision Of Bank’s Lending To NBFCs, HFCs
The Reserve Bank of India’s announcement on March 23 that bank credit to registered NBFCs towards agriculture, MSMEs and housing sector up to prescribed limits will be treated as priority sector loans for a year starting April is expected to ease liquidity constraints for the real estate sector, experts said. […]