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When should a housing society in Mumbai start considering re...
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28 Mar 2025
DLF has acquired nearly 50% of its subsidiary, DLF Urban Private Limited, from Singapore's Reco Greens for INR 497 crore, securing full ownership. Reco Greens, affiliated with Singapore's sovereign wealth fund GIC, previously held a minority stake in DLF Urban, which has developed the luxury residential project One Midtown in New Delhi. The acquisition was formalised through a securities purchase agreement on March 25. With this transaction, DLF Urban is now a wholly owned subsidiary of DLF Home Developers and DLF Limited. Separately, DLF has outlined plans to invest INR 40,000 crore in completing ongoing housing projects and expanding its commercial real estate portfolio.
28 Mar 2025
CBRE's report, Decarbonising Asia Pacific's Office Buildings, reveals that 51% of the region's office space now holds green building certification-a 6.5% increase year-on-year. This shift highlights growing commitment among landlords and occupiers to reduce carbon emissions and enhance property value. Ada Choi, CBRE's Head of Research for Asia Pacific, noted that while some occupiers delay net-zero goals due to business expansion and AI-related energy demand, many are strengthening commitments by formally setting targets. Cities like Sydney, Melbourne, Singapore, and Tokyo lead in green adoption, while India and China are making steady progress. Green-certified buildings command rental premiums of up to 4%, with the highest premiums seen in Mumbai, Hong Kong SAR, and Bangalore.Read more
27 Mar 2025
Bollywood actress Huma Qureshi and her brother Saqib Saleem have leased a 3,370 sq ft luxury villa in Equest Condominium on Juhu Tara Road, Mumbai, for a monthly rent of INR 10 lakh, according to property registration documents. The villa, owned by Impact Films Pvt Ltd, includes an additional 2,654 sq ft basement, four car parking slots, a swimming pool, and a garden. The rental agreement, registered on February 25, 2025, is for 60 months with a 48-month lock-in period, a security deposit of INR 30 lakh, and a 10% rent escalation after 36 months. Juhu remains a Bollywood hotspot, home to several film stars and recent high-value property deals.
27 Mar 2025
DLF Ltd plans to invest approximately INR 20,000 crore in the medium term to expand its commercial portfolio, including office and retail spaces. The company aims to grow its annuity business, which currently holds around 44 million sq ft of rental assets with a 93% occupancy rate, targeting 73 million sq ft over the coming years. The investment will be spread across DLF and joint ventures such as DLF Cyber City Developers Ltd (DCCDL), where DLF holds a 67% stake. Additionally, DLF's rental arm DOCDL has begun constructing 5.5 million sq ft of premium office space at DLF Downtown, Gurugram, and a 20 lakh sq ft DLF Mall of India in Gurugram, as part of an INR 6,000 crore investment.
27 Mar 2025
The Indian construction sector is set for significant growth, with EPC players poised to benefit from over INR 100 billion in opportunities under the Namami Gange Programme (NGP), according to ICRA. Despite the program's sunset date in March 2026, the slow pace of execution may prompt an extension. NGP has an estimated pending outlay exceeding INR 150 billion, offering healthy margins for EPC firms due to lower competition compared to other infrastructure sectors. Since its launch in 2014, NGP has focused on rejuvenating the Ganga, with 492 projects worth INR 401.2 billion initiated, 307 of which are operational. Challenges persist, including land acquisition delays and procedural hurdles, but funding support from the World Bank, PPP models, and CSR initiatives has bolstered project momentum. Additionally, allocations to the Ministry of Jal Shakti have grown at a 21% CAGR, reaching INR 995 billion in FY2026 BE, highlighting the government's push in the Water Supply and Sanitation segment.
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27 Mar 2025
Brigade Group, a prominent real estate developer in India, has acquired a 4.4-acre land parcel in Whitefield, East Bengaluru, to launch a premium residential project with a Gross Development Value (GDV) of approximately INR 950 crore. The upcoming development will offer around 0.6 million square feet of residential space, featuring modern amenities and luxury specifications. The project aims to capitalize on Whitefield's excellent connectivity and vibrant social infrastructure, reinforcing Brigade Group's position in Bengaluru's upscale housing segment.
27 Mar 2025
Citicorp Services India Pvt Ltd has leased 7.7 lakh sq. ft. from Panchshil Business Spaces Pvt Ltd for approximately 10 years, with a total rental value of INR 1,096 crore. The leased space, located in Panchshil Business Hub, Kharadi, spans 10 floors, from levels 7 to 16, and was secured through three separate transactions. Monthly rents range from INR 2.01 crore to INR 2.70 crore, with a 15% escalation every three years. The lease, which includes over 770 car and 1,185 two-wheeler parking spaces, has a lock-in period of 4 to 5 years and a security deposit of INR 20.35 crore. The lease will commence in phases between April 2025 and April 2026. This deal further strengthens Pune's position as a prime corporate destination, aligning with the increasing trend of large office space transactions in the city.
27 Mar 2025
Cricketer Suryakumar Yadav and his wife, Devisha Yadav, have acquired two luxury apartments in Deonar, Mumbai for INR 21.1 crore. The units, located in Godrej Sky Terraces, span a combined carpet area of approximately 4,222.7 sq. ft. and come with six designated parking spaces. The transaction, registered on March 21, incurred a stamp duty of INR 1.26 crore and a registration fee of INR 30,000. The project, covering 1.05 acres, has recorded 25 sales worth INR 202 crore in the past year, with an average price of INR 52,433 per sq. ft. Deonar offers strong connectivity via the Chembur railway station, Mumbai Monorail, and key expressways. Meanwhile, other notable real estate transactions in Mumbai include Zaheer Khan's INR 11 crore apartment purchase in Elphinstone Road and Rohit Sharma's Lower Parel property rental for INR 2.6 lakh per month.
27 Mar 2025
Brookfield Group's subsidiary, Moon Holdings, has acquired a 6-acre land parcel in Mumbai's Powai through a structured deal with two Supreme Infrastructure Group companies for approximately INR 115 crore. The acquisition strengthens Brookfield's commercial real estate portfolio, which currently spans 55 million sq. ft. across India. Located near Supreme Business Park in Hiranandani Gardens, the land is part of a 30-acre parcel earmarked for road development by MMRDA. While Brookfield's subsidiary gains control of the asset, future development hinges on resolving encumbrances linked to the original landowner, positioning the deal as a strategic step in expanding its Mumbai office space footprint.
26 Mar 2025
Residents of Chandshi village in Nashik have urged the Nashik Metropolitan Region Development Authority (NMRDA) to allocate smaller-sized plots in the upcoming town planning scheme. The project, covering 100 acres, aims to provide developed land with essential infrastructure, returning 60% of land to farmers. Villagers argue that smaller plots are more practical for sale and development. NMRDA Commissioner Manikrao Gursal acknowledged their concerns and assured further discussions. Similar schemes in Nashik's Makhmalabad area have balanced infrastructure improvements with landowner benefits, reflecting a collaborative approach to urban planning.
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