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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...
31 Mar 2025
Dhani Services Limited announced that its subsidiary, Indiabulls Urbanresidency Limited, has secured registration from Haryana Real Estate Regulatory Authority (HRERA) Panchkula for its residential project 'Indiabulls Green Avenue' in Sector 2, Kharkhauda, Sonipat. The HRERA approval, granted on 19th March 2025 under registration number HRERA-PKL-SNP-676-2025, aligns with the license issued by the Department of Town and Country Planning (DTCP), Haryana. The company stated that this approval will aid in monetizing its real estate assets and enhance liquidity as part of its broader financial strategy. The development reflects Dhani's ongoing efforts to strengthen its presence in the real estate sector while ensuring regulatory compliance.
31 Mar 2025
Bollywood actress Kajol Devgan has sold her 762 sq ft apartment in Hiranandani Gardens, Powai, for INR 3.1 crore. The property, located on the 21st floor of Atlantis Co-Operative Housing Society, comes with two stack car parking spaces, with a per sq ft rate of approximately INR 40,682 based on the RERA carpet area. The deal was registered on March 20, with Vrushali Rajnish Rane and Rajnish Vishvnath Rane as the buyers. This transaction follows Kajol's recent purchase of a 4,365 sq ft commercial space in Goregaon West for INR 28.78 crore earlier this month. In 2023, she acquired an office space in Andheri West for INR 7.64 crore and an apartment in Mumbai for INR 16.50 crore. Meanwhile, her husband, Ajay Devgn, had leased out a commercial office space spanning 3,455 sq ft in Mumbai for a monthly rent of INR 7 lakh last year.
31 Mar 2025
Gujarat International Finance Tec-City (GIFT City), India's first operational smart city and International Financial Services Centre, has further solidified its status as a global financial hub by achieving higher rankings in multiple categories in the latest Global Financial Centres Index (GFCI 37). GIFT City has secured the top spot in Reputational Advantage, advanced from 45th to 40th in the FinTech ranking, and climbed from 52nd to 46th in the overall ranking. Additionally, it continues to hold its position among the top 15 financial centres in the Asia-Pacific region. The improvements reflect its growing global reputation, investor confidence, and role in financial innovation.Read more
31 Mar 2025
As Maharashtra celebrates Gudi Padwa, CREDAI MCHI Thane has extended warm greetings to its members, real estate stakeholders, and the citizens of Thane. This festival coincides with a significant transition within the organisation, as the new Managing Committee assumes charge from the beginning of April 2025. Gudi Padwa, symbolising new beginnings and prosperity, aligns with the association's commitment to sustainable, affordable, and high-quality housing. The real estate sector in Thane has experienced notable growth due to its strategic location, connectivity, and infrastructure. The new leadership has pledged to uphold transparency, accountability, and ethical business practices, ensuring the welfare of its members and customers.Read more
31 Mar 2025
GDA has allocated INR 418 crore to redevelop 2,004 EWS and 288 LIG flats in Tulsi Niketan, a deteriorating township near Delhi. Built in the 1990s, the complex has suffered years of neglect, prompting a 2019 safety audit by Jamia Millia Islamia, which found 90% of the flats to be unsafe. The redevelopment follows a PPP model, with the builder financing construction in exchange for a saleable area. Residents will relocate temporarily, with the developer covering relocation costs. However, ownership disputes remain a major hurdle, as most flats lack proper registration, complicating efforts to move forward with the project.
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31 Mar 2025
The Prayagraj Development Authority (PDA) is preparing to offer residential properties in areas enhanced during the Maha Kumbh. Under Vice Chairman Amit Pal Sharma's leadership, a special team is identifying land near newly upgraded roads. The PDA aims to expand its land bank while ensuring seamless infrastructure for future housing projects. Beautification efforts, including widened roads and street lighting, have made these localities desirable for homebuyers. PDA plans to acquire 150-200 hectares for residential schemes, offering over 300 flats and 400 plots. The initiative will transform key areas into modern, well-connected neighbourhoods, attracting prospective homeowners.
28 Mar 2025
The Rajasthan government has successfully constructed 20 lakh houses under the Pradhan Mantri Awas Yojana (PMAY), enhancing affordable housing for economically weaker sections. Agriculture Minister Shri Kirori Lal Meena highlighted the scheme's transparency, direct fund transfers, and geo-tagging for progress monitoring. Rajasthan joins Madhya Pradesh and Uttar Pradesh in achieving major housing milestones. Despite challenges in land documentation and funding delays, the state is resolving issues to accelerate construction. The initiative has also generated rural employment, supporting local economies. The government aims to expand PMAY coverage, ensuring "Housing for All" while integrating it with other welfare programs.
28 Mar 2025
Hermes Distillery has purchased 10 residential units in Prestige Ocean Tower, Marine Lines, Mumbai, for INR 199.35 crore. The total built-up area of the apartments is 25,650 sq ft, with each unit offering a carpet area of 2,482 sq ft and a built-up area of 2,565 sq ft. The deal, registered in January 2025, reflects a per-unit price between INR 19.39 crore and INR 20.54 crore. Each apartment has three parking spaces, for a total of thirty parking spaces, and the total stamp duty paid is INR 11.96 crore. Prestige Ocean Tower, developed by Prestige Projects, is located on a 2.3-acre site and features 2 and 3 BHK residences.
28 Mar 2025
Bollywood actor Akshay Kumar has sold two apartments in Oberoi Sky City, Borivali East, for INR 6.60 crore. The transactions, recorded on March 20, 2025, involved a 1,080 sq. ft. unit bought for INR 2.82 crore and sold for INR 5.35 crore, along with a 252 sq. ft. apartment acquired for INR 67.19 lakh and sold for INR 1.25 crore. This is his third sale in the project this year, following two earlier transactions in January and March. Oberoi Sky City, a ready-to-move-in development, has witnessed significant market activity, with 208 sale registrations worth INR 818 crore in the past year.
28 Mar 2025
India's office market saw record leasing activity in 2024, with the BFSI sector playing a pivotal role in driving demand, according to JLL. Companies expanded their presence by acquiring office spaces for bank branches, back offices, and financial operations. Global Capability Centres (GCCs) also contributed significantly, with BFSI's share in GCC leasing rising to 25.2% in 2024, making it the second-largest segment after technology. Key cities have emerged as specialized BFSI hubs, with Mumbai maintaining its dominance, Delhi NCR leveraging its strategic location, and Bengaluru attracting fintech players. Hyderabad, Chennai, and Pune are also witnessing significant growth, supported by their respective industry ecosystems. India's fintech market, projected to reach ~USD 1.5 trillion by 2025, is reinforcing the BFSI sector's growing presence in the commercial real estate landscape.
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