Property / C'struction
DLF to invest Rs 6,000 cr to construct 75 lakh sq ft office, retail spaces in Gurugram
DLF's rental arm, DLF Cyber City Developers Ltd, will invest Rs 6,000 crore in Gurugram to develop 75 lakh square feet of premium office and retail spaces, including DLF Downtown and DLF Mall of India. The firm aims to meet demand for high-quality green commercial properties, with increased rental income from higher occupancy and rent appreciation.
South City Mall-Blackstone deal 'speculative', no urgency to clinch sale: Consortium partner
South City Projects' consortium has labelled reports of a potential USD 400 million deal with Blackstone as speculative. The consortium has received offers from several funds but insists there's no urgency to finalize a deal. They are also considering expanding by acquiring DLF IT Park II and possibly floating a REIT.
Beyond metros: Tier II and III cities emerging as real estate growth hubs
Tier II and III cities in India are emerging as significant players in the real estate market, driven by affordability, infrastructure development, and improved connectivity. These cities now account for nearly half of all land acquisitions by developers, indicating a shift in investment focus and driving sustainable growth.
SC declines to halt Dharavi Redevelopment Project
The Supreme Court has refused to halt the Dharavi Redevelopment Project. The project, given to Adani Group, is under scrutiny after Seclink Technology Corporation challenged the decision. STC is willing to increase its bid by 20% to Rs 8,640 crore. The court noted that the matter is sub judice, and Adani must maintain separate financials.
Amrapali Group cases can't go on indefinitely: SC seeks compliance report
The Supreme Court requests reports on compliance of its orders from parties involved in Amrapali Group's stalled projects. The NBCC has completed around 25,000 flats, with further proceedings aimed at resolving outstanding issues for homebuyers and ensuring the registration of completed flats. The case started in 2017 and is nearing its conclusion.
BNP Paribas leases office space in Mumbai’s BKC at record Rs 811 per sq ft
BNP Paribas has leased a prime office space in Mumbai's Bandra Kurla Complex (BKC) at a notable monthly rental of Rs 811 per sq ft, a significant commercial property deal. Finalized on February 18, the lease, starting August 16, highlights the resilience of India's commercial real estate market despite economic fluctuations.
UPSRTC awards contract to modernise six bus terminals to BeTogether of Omaxe Group
Uttar Pradesh State Road Transport Corporation (UPSRTC) has partnered with the Omaxe Group's BeTogether brand to modernize six bus terminals under the PPP model. These projects involve a total investment of Rs 2700 crore and will feature advanced transport and commercial facilities, enhancing connectivity and boosting local business opportunities.
Residential transactions by women buyers grow by 14% year-on-year
Women's residential transactions in key Indian cities grew by 14%, increasing their share to 22% in 2024. This growth is driven by factors like empowerment, financial independence, and supportive government initiatives. The increase reflects the rise in female homeownership, supported by incentives like stamp duty concessions, reduced registration charges, and lower home loan interest rates.
Surge in office space demand across APAC: Key markets driving growth
Demand for office space in APAC's top 11 markets surged by 15.9% annually to 8.8 million sqm in 2024, primarily driven by India, Mainland China, and Japan. India led the region with 6.17 million sqm leased, maintaining strong activity in H2 2024 with a notable contribution from technology firms and flexible space operators.
Priyanka Chopra Jonas sells four apartments in Mumbai’s Andheri suburb for Rs 16.17 crore
Priyanka Chopra Jonas sold four apartments in Mumbai's Lokhandwala Complex for Rs 16.17 crore, including a duplex for Rs 6.35 crore. These deals registered in November 2023, come after selling two apartments and a commercial property earlier. Priyanka's mother handled the transactions as Priyanka resides in Los Angeles with her family.
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NCRTC invites bids to appoint project management unit for property development along the route
NCRTC has invited bids for property development along the Delhi-Meerut Namo Bharat corridor, aiming to generate non-fare box revenue by developing land parcels into commercial, residential, and service hubs. The Project Management Unit will oversee strategic planning and implementation.
Brigade Enterprises targets Rs 1,700-crore revenue from upcoming housing project in Chennai
Brigade Enterprises is launching 'Brigade Altius', a 6.5-acre premium housing project in Chennai's IT corridor with a revenue potential of Rs 1,700 crore. Aiming for significant growth in Chennai, the company plans to make it their second largest market after Bengaluru. Brigade has over 30 years of experience in developing residential, commercial, and hospitality projects across South India.
Table Space expand presence in Mumbai by 50%
Table Space has increased its Mumbai workspace footprint by 50%, reaching 7 lakh sq. ft. The expansion includes high-end Suites in prime locations such as Worli, Goregaon, and Andheri. This growth is spurred by rising demand in the BFSI sector, underscoring the company's strong market position.
India’s rising wealth expands billionaire, HNI count, drives luxury realty
India's economic growth has propelled the rise in billionaires and high-net-worth individuals, reaching 191 billionaires. This surge in wealth has boosted the luxury property markets in Mumbai, Delhi, and Bengaluru, which excelled in global rankings for price growth. Key factors include entrepreneurial dynamism and global integration.
Tesla’s maiden India showroom lands in Mumbai’s BKC, sets lease rate national record
Tesla Inc has leased its first showroom in India, located in Mumbai's Bandra Kurla Complex, at a record Rs 881 per sq ft. The lease agreement marks a significant move toward catering to India's increasing demand for premium electric vehicles and includes provisions for a long-term tenure of five years.
Delhi ranks 18th, Mumbai 21st, Bengaluru 40th globally in luxury housing price rise: Knight Frank
Delhi has jumped to 18th position among 100 global cities for luxury housing price growth, achieving a 6.7% annual increase in 2024. Knight Frank's report highlights significant improvements in Indian cities, with Bengaluru reaching 40th rank and Mumbai slipping to 21st.
