10 Mar 2025

Bagmane Group is reportedly in the process of acquiring the Chennai office property of US-based technology firm Cognizant Technology Services for approximately INR 800 crore. This property, which served as Cognizant's India headquarters for over two decades, spans 13.39 acres and offers 560,000 square feet of office space along Chennai's IT corridor. Sources indicated that the deal, currently awaiting board approval, includes the potential to develop an additional 3 million square feet. This transaction is part of Cognizant's broader restructuring strategy, announced in 2023, aimed at reducing costs by USD 400 million over two years. The company plans to relinquish 11 million square feet of office space worldwide and has already reduced its Chennai office footprint by 1.15 million square feet.Read more

07 Mar 2025

Bhutani Infra has taken control of the first phase of Bhutani Bayview International Film City in Noida, a 230-acre project with an investment of INR 1,510 crore. With state-of-the-art production facilities, a dedicated film university, and convenient access to Noida International Airport, the plan aims to make Noida a global hub for filmmaking. A distinctive 250-acre emblem visible from space will emphasize India's cinematic identity, while the initiative corresponds with the Uttar Pradesh government's Film Policy 2023, which will create over 50,000 jobs. It will also incorporate sustainable commercial and hospitality areas, creating new standards in real estate and entertainment infrastructure.Read more

07 Mar 2025

The Knight Frank - NAREDCO Real Estate Sentiment Index for Q4 2024 highlights a measured optimism in India's real estate sector, despite a slight decline in sentiment scores. The current and future sentiment indices fell to 59 from 64 and 67 in the previous quarter, respectively, yet remain in the optimistic zone. The residential market outlook remains positive, with expectations of rising prices and sales, though confidence in new launches has weakened. The office market continues to exhibit strength in leasing, supply, and rent. However, economic uncertainties, including revised GDP projections and rupee depreciation, have led to a more cautious investment outlook.Read more

07 Mar 2025

The Chandigarh Housing Board (CHB) has received 6,300 applications for its self-financing housing scheme in Sector 53, a significant rise from 178 applications in 2018-19. The scheme offers 372 flats across HIG, MIG, and EWS categories, with revised prices ranging from INR 53 lakh to INR 1.65 crore, making them more affordable than previous offerings. This pricing strategy aligns with trends seen in Mumbai (MHADA) and Delhi (DDA), where reducing prices boosted demand. The Sector 53 scheme's success highlights the importance of flexible pricing in making affordable housing more accessible, setting a model for future urban housing projects.Read more

06 Mar 2025

The Jaipur Development Authority (JDA) saw a massive response to its recent residential schemes, receiving 1.52 lakh applications for 716 plots, earning INR 15.23 crore in application fees. Govind Vihar, Atal Vihar, and Patel Nagar schemes were particularly popular, drawing thousands of applicants, including transgender individuals. Buoyed by this success, JDA announced three new schemes in Mansharampura, Kardhani, and Bainad, offering 850 plots. This follows a trend of high demand for JDA projects, including those under the Mukhyamantri Jan Awas Yojana. Jaipur's rapid urban growth and improving infrastructure in areas like Jhotwara and Bassi drive this demand, attracting both homebuyers and investors.Read more

06 Mar 2025

The Slum Rehabilitation Authority (SRA) is inviting consultants to submit sealed bids for a structural assessment and repair monitoring of a G+16 rehabilitation building in Vikhroli, Mumbai. The project includes adding three more floors, an overhead water tank, and a lift machine room. The selected consultant will conduct visual inspections, non-destructive tests, and provide a detailed repair report. Bids must be submitted by the deadline, with results announced the same day. The consultant must complete the work within 30 days while ensuring safety and quality standards. The project aims to enhance the building's structural integrity and compliance with regulations.Read more

06 Mar 2025

The Mumbai Building Repairs and Reconstruction Board has scheduled a final hearing for 11 transit tenement applicants on March 6, after none attended the initial session on February 27. Despite several notice attempts, including registered post, personal delivery, and public advertisements, the candidates did not respond. Given that they have not occupied their allotted tenants in two decades, determining their eligibility is critical. MHADA recently altered its allocation policies to increase transparency. The final decision on tenement allocation will be made once the committee has completed its verification and submitted a full report.Read more

05 Mar 2025

The Delhi Development Authority (DDA) has recorded its highest-ever revenue from residential sales, collecting INR 5,185 crore by selling over 15,000 flats between April 2023 and February 2025. This marks a dramatic turnaround compared to INR 4,462 crore collected in eight years (2015-2023). In FY 2024-25 alone, DDA sold 7,184 flats, largely under first-come, first-served schemes targeting construction workers, women, and SC/ST residents. Narela led with 2,700 sales, driven by improved infrastructure, metro connectivity, and targeted housing policies. With strategic expansions and affordable housing schemes, DDA's strong financial performance is reshaping Delhi's real estate landscape.Read more

04 Mar 2025

Displaced tenants of Chintels Paradiso in Sector 109 are struggling because rent payments promised after their homes were certified unsafe have not been paid. Following a partial collapse in 2022, IIT Delhi's audit ruled numerous towers unsafe, prompting evacuations. The district government ordered developer Chintels to compensate impacted homeowners, but residents say payments have halted. The RWA has asked the district town planner to intercede, setting a March 7 deadline for late rent. Chintels claims payments have begun for 140 residents, but arguments continue. The case highlights enforcement issues in Gurugram's real estate sector, putting officials under pressure to act.Read more

04 Mar 2025

Dwarka Expressway has been recognised as India's fastest-growing real estate corridor, witnessing a remarkable 58% year-on-year increase in housing prices during the last quarter, according to a recent report by CREDAI-Colliers-Liases Foras. Dwarka Expressway has surpassed all other major cities and micro-markets, solidifying its status as the most attractive investment destination in Delhi NCR and across India. With rising demand for premium housing, robust infrastructure development, and proximity to key business districts, the real estate market in this region continues to flourish, reflecting strong investor confidence and sustained price appreciation.Read more