Real estate sector likely to garner $12-13bn

New Delhi (PTI): Real estate sector has received an equity capital of $32 billion during the last five years and is expected to attract $12-13 billion during 202324 with office assets likely to garner maximum fund, according to CBRE.

It has estimated that equity flows in real estate sector will remain steady with expected investment at around $12-13 billion over the next two years with an average $6-7 billion flow per year. Equity investments include those by private equity funds, pension funds,

Major Findings

z Real estate sector has received an equity capital of $32 billion during the last five years and is expected to attract $12-13 billion during 2023-24 z Equity flows in real estate sector will remain steady with expected investment at around $12-13 billion over the next two years

25 and 2025-26 and rising to 7.1% in 2026-27.

“In India, domestic demand has traditionally led the economy. But it has become more sensitive to the global cycle lately, in part due to rising commodity exports; and its year-onyear GDP growth slowed to 4.4% in the fourth quarter (October-December 2022),” the rating agency said. Pronounced core inflation in India suggests little slack in these economies, it said.

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New Delhi (ANI): The Reserve Bank of India (RBI) is expected to pause their interest rate hike and the current 6.5% repo rate could be the terminal rate for now, said SBI Research in its latest Ecowrap report.The repo rate is the interest rate at which the RBI lends money to all commercial banks.

The next monetary policy meeting is scheduled for the first week of April 2023.

“The (RBI’s) stance could continue to be withdrawal of accommodation, even as liquidity is now in deficit mode. RBI can always keep the options open in June (monetary) policy,” the SBI Research said.

Epfo To Decide Rate Of Interest On Epf Deposits For Fy23 By Tuesday

New Delhi (PTI): The retirement fund body EPFO is likely to announce the rate of interest on employees’ provident fund (EPF) deposits for 2022-23 at its two-day meeting beginning Monday. EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1% for its about five crore subscribers, from 8.5% in 2020-21 in March 2022. “The EPFO’s apex decision making body Central Board of Trustees (CBT) is likely to decide the rate of interest on EPF for 2022-23 at its two-day meeting beginning on Monday afternoon,” a source said.

Bmw To Launch 19 Car Models In India

THIS YEAR sovereign wealth funds, institutional investors, real estate developers, investment banks, corporate groups, and REITs, etc.

New Delhi (PTI): German luxury auto maker BMW plans to introduce 19 car models, including electric vehicles, in India this year as it looks to sustain double- digit sales growth in the country. The car maker, which expects 2023 to be the best for it in terms of sales in the country so far, also aims for electric vehicles to account for about 15% of its overall sales this year. The group also plans to introduce three bike models in India this year.

CBRE expects that office assets would continue to garner a majority share of total institutional inflows, followed by Industrial & Logistics (I&L) and sites/ land parcels.

FOUR SAIL PROJECTS

WORTH `2,338 CR FACE

DELAYS: STEEL MIN

New Delhi (PTI): Four projects of Steel Authority of India Ltd (SAIL) worth `2,338 crore are facing delay due to reasons like delayed placement of orders and supply of materials/equipment.

“There is delay in projects... Mainly on account of poor performance of contractors/ sub-contractors, delay in placement of orders and supply of materials/equipment, etc. However, there is no cost overrun,” Union steel minister Jyotiraditya M Scindia said.

HDFC BOARD CLEARS RAISING `57,000 CRORE THROUGH NON-CONVERTIBLE DEBENTURES

New Delhi (PTI): Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to `57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating `57,000 crore, in various tranches, on a private placement basis, HDFC said in a regulatory filing.