OKAS, the Indian real estate developer, is looking to raise $500 million for its second real estate fund. The company aims to raise the funds from domestic and international investors to invest in commercial and residential projects across India.
OKAS’s first real estate fund, launched in 2019, raised $350 million and has invested in several projects across the country. The company’s second fund will focus on developing high-quality projects that meet the evolving needs and preferences of buyers in the Indian market.
The real estate market in India has been growing steadily in recent years, with increasing demand for both residential and commercial properties. OKAS’s new fund is a reflection of the growing confidence in the sector and the opportunities it presents for investors.
The company has a proven track record of delivering high-quality projects that cater to the needs of its customers. With the new fund, OKAS aims to continue its success in the Indian real estate market and capitalize on the growing demand for quality properties.
In conclusion, OKAS’s plan to raise $500 million for its second real estate fund is a positive development for the Indian real estate sector. The fund will provide investors with an opportunity to invest in high-quality commercial and residential projects across India, and support the sector’s continued growth. With its proven track record, OKAS is well positioned to capitalize on the opportunities presented by the Indian real estate market and deliver exceptional value to its investors.
Real estate companies with large land parcels currently under bankruptcy administration for loan defaults are being sought after by strategic buyers and investors as demand for residential and commercial properties increases. Despite the challenge of insolvency, these companies and their projects are still finding good interest from investors, given the presence of tangible assets, including the land parcels and unfinished structures, with a certain portion of sales achieved.
Two recent examples of successful resolution plans are Adani Good Homes‘ plan for Mumbai-based developer Radius Estate and Max Estate’s Boulevard Projects in Delhi. These companies’ land banks are especially attractive to developers in metropolitan areas where the scarcity of land coupled with high prices makes them appealing.
However, lack of financing for the acquisition of a stressed realty project is a significant challenge, despite its higher feasibility of recovery. Companies like Labdhi Lifestyle are trying to build an ecosystem where they can take over such projects with revenue visibility and turn them around with the help of their execution capability and balance sheet strength.
Recently, Labdhi Lifestyle acquired a stressed project of Rajesh Lifespaces’ near Mumbai’s business district Bandra-Kurla Complex (BKC) through a quadripartite agreement between both the developers and the project’s financiers, Mirae Asset and JM Financial. Labdhi has become the lead developer of the project, and existing developers and financial partners have received an exit. This was Labdhi’s second acquisition of such a stressed project in Mumbai.
Credit Suisse, the Swiss multinational investment bank, has brought the U.S. bank panic home to Europe’s real estate market. The bank’s decision to halt lending on some real estate deals has caused panic among European developers, many of whom are dependent on Credit Suisse’s financing.
Credit Suisse‘s move comes after it suffered significant losses from the collapse of Greensill Capital, a British finance firm that filed for insolvency last year. The bank’s exposure to Greensill’s risky assets has made it more cautious about lending to the real estate sector, which it considers to be high-risk.
The decision has sent shockwaves through the European real estate market, with developers scrambling to find alternative sources of financing. Many fear that the lack of financing from Credit Suisse could lead to a slowdown in the sector, which would have a ripple effect on the wider economy.
However, some experts believe that Credit Suisse’s decision could have a positive impact on the market in the long run. By reducing its exposure to risky assets, the bank could be helping to prevent a real estate bubble from forming, which could lead to a crash in the future.
In conclusion, Credit Suisse’s decision to halt lending on some real estate deals has caused panic among European developers, who are dependent on the bank’s financing. However, some experts believe that the move could have a positive impact on the market in the long run by preventing a real estate bubble from forming. It remains to be seen how the situation will unfold and what the implications will be for the wider economy.
There are numerous difficulties for students in the fast-paced and competitive society of today. As a student, you have a lot on your plate. In addition to completing your assignments, projects, and tests on time, you, might want a second source to earn money.
You can reduce your parent’s financial burden, and online employment makes it easy for you to make money online without making an investment while you’re a student. One of the finest methods to make money online is through the No Broker Ambassador Club. To join you must be an enthusiastic local who can recognize “for sale ” and “to let” signs and connect the property owners with NoBroker’s customer service representatives.
One of the finest ways for students to get money is through the NoBroker Ambassador Club, which only requires a mobile device with a reliable internet connection.
NoBroker Ambassador Club – Best online jobs for students in India
The NoBroker Ambassador Club is a powerful network of ambassadors from Bangalore, Mumbai, Chennai, Pune, Delhi NCR, and Hyderabad. This is your chance to help you community while earning a good living by working simple jobs, you might earn up to Rs 25,000 each month.
Are you unsure of the tasks or goals you have to complete? Relax, take a seat, and unwind while keeping an eye out for surrounding residences. Just the specifics of a homeowner looking to sell or rent their home must be disclosed. If you need more leads, you can use NoBroker’s home services or speak with people in your network (friends, peers, and neighbours) to find people who want to sell or rent their property.
What Compensation Can You Expect if You Join the Nobroker Ambassador Club?
This possibility for students to make money online without making an investment does not have a set earning cap.
If the property lead you provided is listed on NoBroker or when the home service provided by NoBroker is complete, you will be paid.
Processing payments every week.
For services performed at home, you will be paid 5% (for example, if a carpentry project costs one lakh, you will be paid 5% of one lakh, or Rs. 5000).
If you additionally share 15 listings, you can make Rs. 7500. The total income is therefore Rs. (5000 + 7500) = Rs. 12,500. Furthermore, there are incentives.
You will receive Rs. 100 per posting for a standalone building, Rs. 500 per posting for a property in a gated community, and 5% of the total order amount for home services.
The Easiest Way to Make Money Online: 4 Reasons to Join the NoBroker Ambassador Club
There are no rigid deadlines attached to taking part in this program. You can schedule your tasks and working hours effectively if you schedule your daily activities in advance. You are allowed to work whenever and wherever you want.
The following are some of the most significant benefits of making money with NoBroker Ambassador Club:
The cost of working in this program is less expensive than working in an office. You can perform it at home, is the answer. When you work from home, you are not required to pay for travel or meals.
If you want to work with this software, which is only occasionally available in a typical working environment, you may have many options. You can even work for multiple clients from various fields without encountering any difficulties.
Another advantage of earning money without investment is the program’s payment flexibility. If it is more convenient for you, you may choose how you want to be paid.
The advantage of making money here is that it provides you with limitless earning opportunities. There is no limit to the amount of money you can earn through online earning sources for students. You can make more money in a month than most people make in a year at work if you put in a lot of effort.
To expand your network and improve communication, talk to other professionals about the available listings.
Benefits of NoBroker Services for Everyone
Getting Paid by the Ambassador Club
You can distribute booklets, flyers, and other written materials created by NoBroker to your peers as promotional marketing materials.
People in Bangalore, Mumbai, Pune, Chennai, Gurgaon, Hyderabad, Delhi, Noida, Greater Noida, Ghaziabad, and Faridabad have made between Rs. 15,000 and Rs. 25,000 per month as property listing partners with NoBroker.
NoBroker will run exclusive discount deals on home services to further enhance the allure of the concept.
NoBroker makes it possible for customers to rent out or sell their properties without paying a brokerage fee. Your network will therefore experience significant financial savings.
Pay Rent and Fees with Credit Card via NoBroker
Customers must make recurring payments for rent and utilities on time to avoid late fees.
The most secure method of using a credit card to pay rent and utility bills is provided by NoBroker.
You won’t ever be late and you won’t ever incur late fees.
On the NoBroker website and mobile application, you can use your credit card to pay for a variety of expenses, including rent for homes, rent for schools and colleges, tuition fees, maintenance for societies, and rent for offices.
Property Listing: NoBroker Refer and Earn Money
Anyone can take a photo of any For Sale/To Let sign board outside of any residential or commercial property using NoBroker’s refer and earn money property listing opportunity.
Click the image to send the NoBroker team the property owner’s contact information.
How Can Students Make Money Online Without Investment?
Students have access to a variety of online jobs, but many must be aware of them. We’ll talk about some of the opportunities for students to earn money online today without having to put any money down. Here are a few methods for making money without sacrificing your education.
NoBroker Ambassador Club Member
A club membership in a company like NoBroker Ambassador or an internship are two of the simplest ways for students to make money online. While learning more about how any real estate business functions, you acquire new knowledge and experience. Numerous students have benefited from NoBroker Ambassador Club by making a good monthly income of between Rs. 10,000 and Rs. 20,000.
Freelancing
This is one of the simplest ways for students to earn money online. Any industry you choose, such as marketing, lead generation, and video editing, is open to you as a freelancer. Their work requires 3–4 hours per day in order to make a living. Additionally, you can decide how much work you want to accomplish on the weekends.
Virtual Assistants
Strong organizational and communication skills are the only requirements; administrative abilities are optional. By assisting managers with their daily schedule planning and completing important tasks, you can make their jobs easier.
Blogging
It’s legal to make money online just by posting articles about your opinions or experiences online. The blogging platform may pay you to blog even if you start out without any money.
Social Media Influencer
If you have a sizable following on any social media platform, you can use the reach to your advantage to make money. Brands are constantly searching for newer mediums to reach a larger audience. By establishing yourself as a social media influencer on platforms like YouTube, Instagram, and TikTok, you can promote products for companies.
Benefits of Student Online Employment
Here, you might find student jobs that you can perform from home and earn extra cash.
Online jobs for students at home are similar to paid training because, as a new employee, you’ll undoubtedly learn a lot on the job.
You might decide on part-time work based on your schedule.
Set your own hours and work whenever you want.
You can browse through tens of thousands of jobs and apply for the ones that appeal to you the most.
Because there are so many different kinds of online jobs available, it’s essential to choose one that complements your personality and interests. With the NoBroker Ambassador Club, you have a excellent opportunity to earn money, and you can do it with ease by putting in only 4 to 5 hours per day.It’s easy to make between 15,000 and 20,000 rupees a month. You only need a functioning internet connection and functional communication skills to get started.Both students and young professionals have a lot of opportunities to make money using NoBroker.
The Reserve Bank of India reported on Tuesday that the all-India house price index (HPI) increased 2.8 percent in the October-December quarter of 2022–2023 compared to 3.1 percent a year earlier.
Based on transaction-level data acquired from the registration authorities in ten major cities, the RBI publishes the HPI on a quarterly basis.
These are the cities: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.
In the third quarter of the current fiscal year, HPI movements varied greatly between the cities, with Kochi experiencing a growth of 7.1% and Jaipur experiencing a contraction of 9.1%.
The RBI reported that while Lucknow, Kolkata, and Jaipur experienced sequential declines in the index, it rose for the other cities. “On a sequential (q-o-q) basis, all India HPI increased by 1.3 percent in Q3:2022-23,” the RBI said.
In 2007, the Reserve Bank started the process of creating a house price index (HPI) and published a quarterly HPI for Mumbai city as its first sample. The nine additional cities have been added to the coverage over the quarters.
Mukesh Agarwal lodged an FIR against the father-son developer with Borivli police on January 2, the complainant is a real consultant and also deals in logistics.
The city Economy Offences Wing (EOW) police registered a case regarding cheating of Rs 10.3 crore against a father and son developer.
Mukesh Agarwal who is a real estate consultant and also deals in logistics has registered an FIR with the Borivli police on January 2 complaining that the accused, who had given an allotment letter of flats to him, sold some of the flats from the ones they kept as security with him.
Further, the case was transferred to the EOW. Agarwal told the police that he had invested money in the project of accused Govind Parekh and his son Hiren Parekh at Borivli and that they had given allotment letters for four flats to him in 2018 as security for his brokerage payment and invested money. Police said that Agrawal asked Parekh for money in 2021.
According to an EOW source, the father-son duo issued a letter of acknowledgement of debt to Agarwal and told him to give him the money in one year. Moreover, they assured him that if they fail to pay, they will give Agarwal 24% interest on Rs 8.31 crore. The duo never gave him any money, the police added.
E-auction bidding of residential and non-residential plots of Kanpur Development Authority (KDA) began on Monday. KDA Vice-Chairman Arvind Singh inaugurated the bidding of around 401 plots through e-auction portal on www.kdaindia.co.in
An advertisement was floated by KDA regarding the e-auction of 401 residential and non-residential plots in which interested persons could register themselves from December 28, and place their bids from January 2 to January 31 through online bidding.
Residential plots are available in Shujat Ganj, Jawahar Puram, Shatabdi Nagar, Jahnvi- Bhagirathi schemes, and non-residential plots in New Transport Nagar. The area of non-residential plots is 90-1800 square meters and residential plots are 47.53 to 300 square meters. People can inspect the plot on the site with the help of Google location before purchasing the plot.
According to SB Rai, a law officer and public relations officer, KDA floated the sale of plots on the occasion of former Prime Minister Atal Behari Bajpai’s birthday, Christmas, New Year, Makar Sankranti, and Republic Day.
On Monday, district judge Kanpur Nagar Sandeep Jain released the advocate diary of the Lawyers Association at the court campus.
After wishing a happy new year to the advocates, the district judge said that all of the advocates should make such efforts so that the name of Kanpur in the judicial field could be highlighted in the state.
President of the Lawyers Association Ravindra Sharma said, “We all should make efforts together to provide cheap and accessible justice to litigants”. The programme was conducted by the general secretary of the association Sharad Kumar Shukla. The office-bearers of the Lawyers Association were present on the occasion.
Nagpur Municipal Corporation (NMC) has brought plan sanction charges by 50% after two years. The decision came as a big relief for citizens, as they will also not have to pay the retrospective dues from the last five years.
Municipal commissioner Radhakrishnan B has executed revised building charges from 1 January. The revised charge will cost a revenue loss of around 75 crores per annum to the civic body dealing with a shortage of money. If the builder considers revised building charges of the flat cost, the citizens who want to construct their own houses, or buy flats will get huge relief.
The existing municipal commissioner in 2020, Tukaram Mundhe, had asked for guidance from the state government regarding an increase in building plan charges by 100%, with a retrospective effect, for bearing the civic body’s 5% share in the 8,680 crore Metro rail project.
The government reportedly allowed for the hike on November 3, 2020. municipal commissioner Radhakrishnan B implemented the steep hike in charges on January 13, 2021. The revised charges were brought into effect from July 1, 2016, and the civic body is supposed to recover 100% extra charges from the individuals and companies who got building plans sanctioned between July 1, 2016, and January 13, 2021.
The move resulted in charges increased from 2% of the ready reckoner value of the land to 4% in the case of a residential structure, and from 4% to 8% for commercial buildings. The MNC sanctioned plans as per the revised charges for two years but did not recover the retrospective amount of five years.
NMC general body passed a resolution to set aside the decision of the civic chief on July 22, 2021, citing that charges were hiked without its consent. Considering the financial loss to the civic body and government Radhakrishnan sent a resolution to the government and requested to quash the decision.
MLC and BJP city president Pravin Datke pursued the matter and on December 29 they managed to discard the civic chief’s decision. He also said, “NMC is not working to make profits. Hike to some extent, that too in a phased manner, does not increase the burden on the citizens. However, charges were increased by 100% at a single go, causing serious inconvenience to the citizens. The general body and the then office bearers were also not kept in the loop. I thank CM Eknath Shinde and DyCM Devendra Fadnavis for taking the decision in the larger interest of the public”.
“Central and state governments had sanctioned huge funds for various projects in the last six months for the city. There are various types of new revenue sources. A steep 100% rise in charges cannot be termed as a revenue source,” Datke said on the loss to the civic body.
Now, the charges will be 2% of the ready reckoner value of the land for residential structure and 4% for commercial that prevailed before January 13, 2021,
Bengaluru: Court advised BDA to make sincere and aggressive efforts to take further steps in safeguarding its properties and file effective compliance reports by February 10, 2023.
The number of cases pertaining to properties owned by the Bangalore Development Authority (BDA) indicates that BDA is not managing its properties properly.
Karnataka Lokayukta said by expressing displeasure over the delay in removing illegal occupants from BDA properties that it is observed that valuable properties belonging to the BDA cannot be illegally permitted to be occupied by third parties and it is the duty of the BDA to safeguard its properties. So, the BDA is expected to make sincere and aggressive efforts to take further steps in safeguarding its properties and file effective compliance reports as per the order.
The Lokayukta ordered BDA to re-list the matter on February 10, 2023. BDA Engineer Member HR Shantharajanna reported to the Lokayukta that after verifying the pendency of litigations and court orders, action is being initiated in a phased manner for the removal of unauthorized occupation.
The Lokayukta said the BDA has taken action to clear the encroachments on four of its properties. According to the report of BDA, litigations pertaining to 1,443 properties are pending.
Sai Datta, a social activist filed a complaint with Karnataka Lokayukta on July 20, 2017, demanding to organize a land audit from BDA. Justice P Vishwanath Shetty, Lokayukta of the time, directed the BDA to provide data on its properties. The BDA made its land audit public on July 12, 2021, after four years of Lokayukta’s directive.
The land audit, conducted by E1 Technologies, revealed the BDA had acquired 37,168 acres to develop 64 layouts, and buildings were constructed on 7,059 acres acquired after paying compensation to land owners. The report stated the BDA is yet to use 1,171 acres. It also stated that buildings are constructed on 11,399 acres of land notified by the BDA. The audit report stated that 1,207 acres of the notified land are vacant and the BDA is yet to compensate the landowners.
LIC Housing Finance joined peers and raised its lending rate by 0.35%. The move, which comes after an increase by bigger rival HDFC by a similar quantum, necessitates that the minimum rate of interest will get revised to 8.65% for the best-rated borrower.
The company stated that it has increased the LIC Housing Prime Lending Rate (LHPLR), to which the interest rate on its loans is linked, by 0.35%.
The company’s managing director and chief executive Y Viswanatha Gowd said that the increase in rates is in tune with the market conditions and there is good sustenance in the home-buying activity in the real estate sector at present.
It can be noted that the Reserve Bank has hiked repo rate, at which it lends to the system in five consecutive moves by a cumulative 2.25% since May this year. Lenders in the system have responded to the hikes affected by the RBI.
