Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
08 Apr 2025
The Maharashtra Housing and Area Development Authority (MHADA) on 4 April successfully conducted a computerised lottery draw, allotting 663 rehabilitation tenements to eligible residents of the Patra Chawl (Siddharth Nagar) redevelopment project in Goregaon (West), Mumbai. The project, delayed for nearly 15 years, has now received its Occupancy Certificate and offers 686 parking spaces, exceeding the regulatory requirement. MHADA assured continued rent compensation until May 2025 and free structural repairs for a year post-possession. Initially assigned to Guru Ashish Construction in 2008, MHADA took over the project four years ago following construction delays.
08 Apr 2025
Foreign companies rented 111.6 lakh sq ft office space in January-March this year across nine major cities, contributing 62% to the total demand, according to CBRE. Anshuman Magazine, Chairman & CEO -- India, South-East Asia, Middle East & Africa, CBRE, said that established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline. "As businesses seek quality workspaces, the demand for sustainable offices is rising, with occupiers prioritizing employee experience and long-term growth. A key factor shaping this momentum is the growing presence of Global Capability Centres," Magazine said.
Source: PTI
07 Apr 2025
Chennai-based land aggregator and real estate firm G Square Realtors Pvt Ltd aims to double its revenue to INR 5,000 crore in the current financial year. The company is expanding across Tamil Nadu, Karnataka, and Hyderabad, including tier-2 towns. Established in 2012, G Square initially catered to corporate clients before entering the B2C market in 2021. The company has acquired over 4,000 acres and served more than 15,000 customers. It recently launched 'Aranya,' a premium residential project in Porur, Chennai, with plots priced between INR 4,290 and INR 6,000 per sq ft. The firm is also planning an IPO by 2028.
07 Apr 2025
Mumbai-based real estate developer Runwal Enterprises Limited has filed its draft red herring prospectus (DRHP) with SEBI to raise INR 1,000 crore through an initial public offering (IPO). The offering consists entirely of a fresh issue with a face value of INR 2 per share, without an offer-for-sale component. A pre-IPO placement of up to INR 200 crore may be considered, reducing the fresh issue size. Proceeds will be allocated for debt repayment, subsidiary investments, future real estate acquisitions, and corporate expenses. Runwal Enterprises, ranking second in Mumbai's real estate market for new launches and sales, reported a 188.55% revenue increase in FY24, turning profitable with INR 107.28 crore. ICICI Securities and Jefferies India are managing the IPO, with shares to be listed on BSE and NSE.
07 Apr 2025
In two notable real estate deals in Delhi's Golf Links, private equity executive Sanjay Kukreja and his wife, Shaveta Sharma, acquired a 11,250 sq. ft bungalow for INR 155 crore from Pradeep Varma, who subsequently purchased another bungalow of 6,498 sq. ft in the same area for INR 78.50 crore. The transactions underscore the premium commanded by single-owner properties in this sought-after market, where most bungalows are multi-owned. Industry experts noted that Golf Links remains highly competitive, with limited inventory and high demand, particularly for rare single-owner properties.
Advertisement
07 Apr 2025
India's office market recorded an all-time high of 28.2 million square feet in transactions during Q1 2025, reflecting a 74% year-on-year surge, according to Knight Frank. Global capability centres (GCCs) were the dominant occupiers, accounting for 44% of total space, with Bengaluru leading at 65% of all GCC transactions. The third-party IT services sector contributed 19%, benefiting from a resurgence in demand. Experts noted India's cost advantage and talent access as key drivers. With office space demand remaining strong, the market is projected to expand by 5-6% in 2025, reaching 75-78 million square feet.
07 Apr 2025
Residential sales across India touched 88,274 units in Q1 2025, marking a 2% year-on-year rise, with the premium housing segment (priced above INR 1 crore) accounting for 46% of total sales.Pune and Chennai posted 20% and 10% annual sales growth, respectively, while Mumbai retained its top spot as the country's largest housing market. The ultra-luxury category (above INR 5 crore) surged 483% year-on-year. Simultaneously, new launches reached 96,309 units, continuing to outpace sales for the tenth straight quarter. Mumbai and Bengaluru contributed 44% of all new launches. NCR led premium sales (INR 2 crore+), while Bengaluru had the highest launch growth at 26% YoY.
04 Apr 2025
United Spirits has sold a residential property located in Mumbai's Malabar Hill area for INR 172 crore. The property includes furniture, fixtures, and fittings, spanning a ground floor and two upper floors. The buyers are Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani, who have no ties to the company's promoters or group. United Spirits, a subsidiary of Diageo, has been liquidating non-core assets previously owned by its former chairman Vijay Mallya, who stepped down in 2015. The company is based in Bengaluru, Karnataka.
04 Apr 2025
Residents of Parsvnath Exotica, a gated community in Gurugram's Sector 53, are voicing concerns about unlawful multi-storey buildings and commercial establishments springing up in adjacent Saraswati Kunj. The 28-acre gated society with 18 towers and approximately 900 flats is divided into two phases. Phase-2, which consists of towers D4, D5, and D6, directly faces Saraswati Kunj. Despite a 2016 court order halting construction, illegal activity continues, with slums sprawling, and buildings being converted into unauthorised PGs and warehouses. Local authorities have yet to take action, prompting Exotica residents to urge the Chief Minister for immediate intervention to protect the safety and wellbeing of over 3,000 residents in their community.
04 Apr 2025
Interior designer Gauri Khan has sold her nearly 2,000 sq ft apartment in Kohinoor Altissimo, Dadar West, Mumbai, for INR 11.61 crore. The transaction, registered on March 28, 2025, saw buyers Devendra Chaukar and Vandana Agarwal acquiring the 21st-floor unit with two car parkings. The deal reflects a 37% appreciation since Khan purchased the property for INR 8.5 crore in August 2022, highlighting Mumbai's luxury real estate growth. Meanwhile, Shah Rukh Khan has leased two duplex apartments in Pali Hill, Khar, for INR 8.67 crore over three years, temporarily relocating as Mannat undergoes renovation. Mumbai continues to dominate India's luxury real estate market, with INR 3,652 crore invested in high-end homes in 2024 and INR 850 crore in the first two months of 2025.
Advertisement
