India Sotheby's International Realty's 1st Edition of it's In-House Magazine

Home & Art

Introducing ‘Home & Art’: We are thrilled to announce the launch of our lifestyle magazine dedicated to fine homes and soul uplifting art. With Home & Art, we wanted to celebrate a world coming out of a soul changing experience, and what better way to do it than to honour the closeness we have rebuilt with our homes.

India Sotheby's International Realty in the News

India Sotheby’s International Realty facilitates sales of Rs 2,100-Cr luxury properties in 2021; up 47 %

India Sotheby’s International Realty sold 182 luxury properties worth USD 280 million during 2021 as against 102 properties valued at USD 190 million in the previous year, it said in a statement.

“The year 2021 marked a headline shift in luxury home buying in India. We clocked another extraordinary year. “Our India footprint expanded across five cities, with a 66-member team. We registered a 30 per cent year-on-year growth,” said India Sotheby’s International Realty CEO, Amit Goyal.

On the Indian luxury realty market, Goyal has a bullish outlook on luxury home prices. “We are at the start of a secular price rise since price rise follows a rise in volumes if not along with it,” he said.

Source: Financial Express

Circle rate hike planned by Delhi government will adversely impact the real estate market: Experts

The Delhi government’s plan to increase circle rates - or floor rates for property deals - by up to 30% will have an adverse impact on the real estate market and slow the pace of high-value transactions that had hit fresh records after the Covid slump.

“Any proposal to hike circle rates in Category A localities - Maharani Bagh, New Friends Colony, Panchsheel Park, Vasant Vihar and Hanuman Road - where the market rates are significantly below circle rates will be very counterproductive,” said Amit Goyal, CEO, India Sotheby’s International Realty.

A government official told ET that a proposal to revise the circle rates has been sent to the revenue minister and it will soon be put up before the cabinet for approval.

Source: Economic Times

Other News at a Glance

Massive demand, supply, price up cycle await Mumbai's real estate: Report

The Mumbai property market that accounts for 10 per cent of national volumes, 23 per cent of sales and a third of the margins, is on the cusp of a historic upcycle on all fronts, having already hit a decadal high of new or primary sales in 2021 selling 38,000 units despite the pandemic-induced disruptions, says a report.

Source: Business Standard

Travel, Wealth Gains Will Keep the Fire Burning Under These Luxury-Home Markets in 2022

2022’s real estate market looks poised to be the year of the international investor with reopening borders & eager home buyers set to drive luxury markets globally. Major global metropolises like San Francisco, London and New York, will all reap the benefits of the returning buyer segment, who are poised to drive deals and prices alike.

Source: Mansion Global

Auction Updates

Stellar works at Sotheby’s this March

Manjari Sihare-Sutin, Head of Sotheby’s New York Sale of Modern & Contemporary South Asian Art has put together a stellar suite of works for the Sotheby’s sale on 21st March at New York. Some of the artists on display are Bhupen Khakhar, VS Gaitonde, MF Hussain among others.

Source: Times of India

Chanel Goodies From the 1990s Hit the Auction Block at Sotheby’s

The sale, featuring 256 lots, is focused on items from the 1980s, 1990s, and Y2K, the same decades that designers have been mining lately. They are also the eras for which millennials feel most nostalgic, according to Mason Howell, handbags specialist for Sotheby’s Americas.

Source: Vogue

Colombo New Development in the Spotlight 

We invite you to be enthralled by the unparalleled views of Colombo City, from Colombo's prestigious luxury address on Galle Face. 

The Sapphire Residences Open House Festival

Open for viewing every Saturday & Sunday in March'22, 12 PM- 5 PM

To register your interest, contact Tyronne Rebeira at +94 77 1741122 | marketing@sothebysrealty.in

San Francisco Bay Area - Real Estate Market

The San Francisco Bay Area housing market remained strong in February with persistent buyer demand, despite rising mortgage rates and prices reducing purchasing power. The median sales price increased to $1.3 million in February, 13% higher than last month and 16% higher than a year ago. Notably, the median price per square foot reached more than $760, a new record. The regional economy continued to improve with the unemployment rate falling and job listings accelerating across a range of industries. STEM-related job openings increased substantially, and a growing number of major firms announced plans to fully reopen San Francisco Bay Area offices. Elevated buyer demand is expected to continue driving the San Francisco Bay Area housing market through the remainder of the year.  

California Listings

Domestic New Development in the Spotlight

Open House to View Soon

For more details, contact: 

Supreet Singh

+91 9560258239 | supreet.singh@sothebysrealty.in

Commercial Listings

Good Earth Business Bay

High Street Retail Property - Connaught Place

Location: E Block, Inner Circle

Leasable Area: ≈ 240 sqm

Lease Commencement Date: 14th January 2022

Expected ROI: 5% 

Asking Price: ≈ INR 60 Crore (Negotiable)

Independent Building - Entire Floor

Location: Okhla Phase III, New Delhi

Leasable Area: ≈ 440 sqm

Lease Commencement Date: March 2022

Expected ROI: 6.5%

Asking Price: ≈ INR 9 Crore (Negotiable)

For more details, contact: 

Nikhil Jaju 

+91 8147512137 | nikhil.jaju@sothebysrealty.in

On The Property Show, the success stories of 3 strong courageous women, who fought against all odds to reach the top, in an industry as difficult as real estate is discussed Sangeeta Prasad, Group CEO, Runwal Group, Renu Misra, leader Mena, Lixil Emena, Grohe and Pushpa Bector, Executive Director, DLF Retail Malls join to talk about their struggles and challenges they had to face on their journey to the top.