Realty News Roundup: PropTiger.com Releases Realty Report; Sobha Launches Boutique Homes In Bengaluru

Realty News Roundup is PropGuide's selection of top stories from the real estate sector

Top News

PropTiger.com released its latest report on the Indian real estate sector. The report finds that though sales have dropped by 18 per cent over the last quarter, property prices are likely to remain stable. The report suggests that unsold inventory in Mumbai, Bangalore and Noida form 60 per cent of the total unsold inventory across cities. Read this Times of India report to know more.

Real estate major, Indiabulls, reported a two-fold surge in net profit at Rs 90.68 crore for Q1 FY'15. This NDTV report says that the company reported new sales worth Rs 801 crore in the June quarter.

According to a filing to the Bombay Stock Exchange (BSE), the National Buildings Construction Corporation (NBCC) earned  Rs 540.81 crore from various clients in July. Reports suggest that the company is already redeveloping East Kidwai Nagar in Delhi, and has procured a 7,613 sq mt plot in Jaipur for a real estate project. Read here.

Despite strong opposition by the Maharashtra government, the Centre's amended Real Estate (Regulation and Development) Bill has retained a clause saying that the Maharashtra Housing (Regulation and Development) Act, 2012 will be repealed if the Centre's bill is implemented. Read here.

Off the front page

Sobha group has launched its boutique homes - 'Sobha Clovelly' at Padmanabhanagar in Bengaluru. The project is spread over 12140 sq mt (three acres) of land. It introduces the boutique living concept at Bengaluru, where, each resident benefits from being part of a contemporary, stylish and exclusive development which is strategically positioned within Bengaluru's blue ribbon area. Read more.

Opinion

Read Vivek Kaul's column on Indian real estate. Vivel Kaul is the author of the Easy Money Trilogy.