21 Jan 2025

Shriram Housing Finance (SHF) has rebranded as Truhome Finance after being acquired by Warburg Pincus and its co-investors, including Qatar's sovereign wealth fund, QIA. The rebranding follows the completion of Warburg Pincus' purchase of Shriram Finance's entire stake (84.44%) in SHF for INR 3,929 crores. Truhome Finance's MD & CEO, Ravi Subramanian, reaffirmed the company's core mission of providing affordable home loans, with a commitment to quality and customer satisfaction. The leadership team and contact details will remain unchanged, ensuring smooth business continuity. Warburg Pincus sees this acquisition as an opportunity to further financial inclusion in underserved communities.Read more

21 Jan 2025

Delhi's Omaxe Chowk has added to its retail lineup with the launch of the iconic House of Surya, a four-generation staple in women's ethnic wear. The 24,000 sq ft store was inaugurated by Bollywood star Malaika Arora, drawing over 2,000 visitors. Featuring bridal couture and ready-to-wear collections, the store blends Chandni Chowk's rich traditions with modern shopping. Jatin Goel, Omaxe Group's Executive Director, highlighted its alignment with the area's cultural heritage. The store aims to uplift artisans and weavers while attracting shoppers to the vibrant destination. Omaxe Chowk continues to grow as a premier hub for ethnic fashion and culture.Read more

20 Jan 2025

Macrotech Developers, operating under the Lodha brand, has acquired a 20-acre land parcel in Bengaluru for a housing project with a gross development value (GDV) of INR 2,800 crore. The acquisition includes both outright purchases and a joint development agreement. This marks the company's fifth project in Bengaluru, a market it entered a few years ago. The firm has recorded a 20% growth in sales bookings for the 2023-24 financial year and aims to achieve a target of INR 17,500 crore in the current fiscal year.Read more

20 Jan 2025

K Raheja Corp Real Estate Pvt Ltd, a prominent Mumbai-based developer, has purchased a 5.75-acre land parcel in Kandivali East's Ashok Nagar for INR 466 crore, as per documents accessed via CRE Matrix. The acquisition, finalised recently, involved a stamp duty payment of INR 3.17 crore. The company has paid INR 210 crore as a deposit, with a five-year timeline to obtain necessary approvals from the Brihanmumbai Municipal Corporation (BMC). This deal is part of K Raheja Corp's consistent efforts to strengthen its presence in Mumbai's real estate market.Read more

17 Jan 2025

Hyderabad's Grade A office space market faces rising vacancy rates, projected to reach 24-24.5% by March 2026, up from 14.1% in March 2023, according to ICRA. Despite a 14% CAGR in office supply between FY 2017-2024, demand, driven primarily by IT and financial services, remains constrained at 9-12 million sq. ft. annually. Key areas like Hitech City are maintaining stable vacancies at 9.5-10%, while Gachibowli and the Financial District may see vacancies soar to 25-30%. As Hyderabad's share of India's office supply grows from 15% to 17%, stakeholders must adapt to tenant preferences for sustainable, tech-enabled spaces in a competitive market.Read more

17 Jan 2025

Property owners in DLF City, Gurugram, particularly in phases 1-5, face scrutiny for widespread illegal construction and unauthorized commercial activities. The Department of Town and Country Planning (DTCP) has identified violations in 4,183 properties, issuing 1,138 notices so far, with a January 31 deadline for compliance. Key violations include unauthorized multi-story buildings and misuse of residential properties for paying guest accommodations and guesthouses. Despite DTCP efforts, legal obstacles and court stays on 167 cases have hindered enforcement. With the Punjab and Haryana High Court set to review the case on January 15, stricter enforcement and compliance are critical to preserving residential zoning integrity.Read more

17 Jan 2025

Oberoi Realty has been appointed by Mumbai's Slum Rehabilitation Authority to redevelop a 2.5-acre Bandra Reclamation parcel owned by MHADA. The project grants the developer 3.2 lakh sq ft of RERA carpet area as free-sale entitlement under the city's Development Control Regulations. Known for its premium location near the Bandra-Worli Sea Link and Bandra-Kurla Complex, Bandra remains a prime hub for residential and commercial projects. This initiative aligns with Mumbai's urban renewal strategy to replace slum settlements with organized urban spaces. Alongside this, Oberoi Realty announced a luxury residential and resort development spanning 81 acres in Alibaug, further expanding its premium portfolio.Read more

15 Jan 2025

The Punjab government has purchased 167 flats in Purab Premium Apartments, Sector-88, Mohali, to provide accommodation for IAS, IPS, PPS, and other administrative officers. These apartments are categorised based on officers' rankings, and rent will be paid by the occupants. The total cost of the purchase is INR 1,00,48,50,000, with an initial payment of INR 38,85,42,000 already made, including additional charges. The remaining amount can be paid either in a lump sum within 60 days or through eight half-yearly installments with interest. Deputy Commissioner Aashika Jain confirmed the allotment and noted that the initiative addresses a long-pending housing demand from officials.Read more

15 Jan 2025

Union Agriculture Minister Shivraj Singh Chouhan virtually inaugurated 50,000 houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) in Assam, a project valued at INR 650 crore. This initiative is part of Assam's progress toward completing nearly 19 lakh homes out of a 20-lakh target for marginalized families. The event also included the distribution of agricultural machinery to boost rural productivity under schemes like NFSM and MOVCD-NER. Chouhan announced expanded PMAY-G eligibility criteria to include more beneficiaries and inaugurated market and storage infrastructure in Kamrup and Hojai. These efforts underscore the government's commitment to transforming rural livelihoods in Assam.Read more

14 Jan 2025

The Nagpur Improvement Trust (NIT) plans to redevelop its Sanskrutik Sankul building on North Ambazari Road into a 13-storey mixed-use complex, combining commercial and residential spaces. The project, executed under a Public-Private Partnership (PPP) model, will be constructed on a one-acre plot adjacent to the MahaMetro Aqua Line, benefiting from a higher Floor Space Index (FSI). The developer has agreed to pay a premium of INR 120.46 million, with construction costs estimated at INR 200 million. The complex will feature parking, commercial spaces, a banquet hall, a starred hotel, and residential units. NIT will retain two floors for office use, with shopkeepers compensated and relocated.Read more