04 Jun 2025

Aparna Constructions and Estates has launched a new luxury housing project, Aparna Moonstone, with an investment of over INR 2,525 crore. Located within the integrated Aparna Deccan Town in Hyderabad's Gopanpally-Gachibowli corridor, the project will feature 2,088 residential units across 22.28 acres. The move aligns with rising demand for luxury living as Hyderabad cements its status as a global innovation hub. Managing Director S S Reddy noted that Aparna's legacy of quality positions it to lead this market shift. Founded in 1996, Aparna Constructions has grown into a INR 4,500 crore realty firm with 83 projects spanning residential, commercial, and retail segments across Telangana, Andhra Pradesh, and Karnataka. Aparna Moonstone further strengthens the company's footprint in South India's evolving luxury real estate market, reflecting emerging urban trends and consumer aspirations.Read more

03 Jun 2025

AU Small Finance Bank has acquired an 11-storey office building in Bandra (East), Mumbai, for INR 371 crore from Earthworth Constructions, with an additional INR 22.26 crore paid in stamp duty. The 74,577 sq. ft. property, featuring two basements and 98 parking spaces, will serve as the bank's new corporate headquarters. This is the largest outright office space purchase by a financial institution in 2025. The acquisition follows AU's merger with Fincare Small Finance Bank, expanding its network to over 2,350 touchpoints across 25 states, serving more than 10 million customers. The bank has also applied to transition into a universal bank. The move reflects AU's strategy to consolidate operations and strengthen its Mumbai presence, signalling a trend among financial institutions towards owning prime commercial real estate. The property's location along the Western Express Highway offers key connectivity advantages.Read more

03 Jun 2025

The NCW Prime Offices Fund, a joint venture by Nuvama Asset Management and Cushman & Wakefield, has acquired Prius Platinum, a premium Grade A office building in South Delhi's Saket District Center. The 0.3 million sq. ft. property was purchased from a Kotak Alternate Asset Managers-led consortium, which had acquired it in 2021 via the Insolvency and Bankruptcy Code (IBC) process for INR 450 crore. The building has since undergone significant upgrades, including ESG-focused enhancements, achieving a 95% occupancy rate with a five-year WALE and strong lock-in periods. The NCW Prime Offices Fund recently raised INR 1,700 crore and targets a corpus of INR 3,000 crore. Its investment focus is on developing Grade A+ 'Offices of the Future' across India's top commercial hubs-NCR, Bengaluru, Mumbai, Pune, Chennai, and Hyderabad-aligned with evolving corporate workspace trends and sustainable development practices.Read more

03 Jun 2025

Vizianagaram district, Andhra Pradesh, faces delays in completing nearly 6,924 of 11,000 Pradhan Mantri Awas Yojana (PMAY) homes. Despite additional government funding, many beneficiaries have not begun construction. Authorities suspect some recipients already own homes and have ordered verification visits to cancel ineligible allotments. At a recent review meeting, District Collector Dr. B.R. Ambedkar highlighted slow progress, especially in Bobbili and Vizianagaram urban areas, citing issues like water shortages and borewell theft. Officials were directed to operationalise borewells within two days and launch door-to-door awareness campaigns on available financial support. Daily construction targets and weekly progress reviews have also been mandated. Additionally, 4,096 new housing applications and 2,500 manual applications will undergo eligibility verification. The district aims to ensure timely completion of PMAY homes and deliver affordable housing to all eligible beneficiaries through focused verification and improved infrastructure.Read more

03 Jun 2025

Mumbai-based Kanakia Group has entered into a strategic joint venture with US-headquartered Hines and Japanese conglomerates Mitsubishi Estate and Sumitomo Corporation to develop a premium 1.5 million sq ft office complex at Bandra Kurla Complex (BKC), Mumbai. This collaboration will see Kanakia provide the land parcel, while Hines, MEC, and Sumitomo step in as institutional investors and development partners. The project, spread over 3 acres, is set to feature not only office spaces but also F&B and retail elements. This marks a major milestone in Hines' expansion in India and strengthens its long-term strategic presence in Mumbai.Read more

03 Jun 2025

Pharma tycoon Leena Gandhi Tewari made headlines recently for paying an incredible INR 639 crore for two duplex apartments with a view of the sea in Mumbai's affluent Worli neighborhood. The acquisition, inclusive of stamp duty and GST, brought the total transaction value to approximately INR 703 crore, establishing it as the most expensive residential property deal in India to date. Located within the ultra-premium Naman Xana tower, the 22,572 sq. ft. apartments reflect a growing trend among ultra-rich individuals particularly from the pharma sector towards high-end residential investments in the financial capital.Read more

03 Jun 2025

Prestige Estates Projects Ltd reported an 82% YoY drop in consolidated net profit to INR 25 crore in Q4 FY25, down from INR 140 crore. Total income also fell to INR 1,589.3 crore from INR 2,232.5 crore. For FY25, net profit declined to INR 467.5 crore (from INR 1,374.1 crore), with total income dropping to INR 7,735.5 crore. Amidst this downturn, the Bengaluru-based developer announced a strategic joint venture with Valor Group to co-develop a 1.5 million sq. ft. premium commercial office project in Andheri West, Mumbai, with an estimated Gross Development Value (GDV) of INR 4,500 crore. Both companies will hold equal 50% stakes, with Prestige investing INR 504 crore via an SPV. The project aims to strengthen Prestige's presence in Mumbai's thriving commercial real estate market and drive future growth.Read more

02 Jun 2025

Prime Offices Fund, jointly managed by Nuvama and Cushman & Wakefield (NCW), has acquired 'Prius Platinum', a 3 lakh sq ft Grade A office property in South Delhi's Saket District Centre for approximately INR 700 crore. The asset, 95% leased, was earlier acquired via IBC by a Kotak-led consortium and has since undergone significant upgrades. This acquisition aligns with the fund's strategy of investing in sustainable, high-quality commercial assets in major urban hubs. With strong rental income potential, the deal reflects growing investor appetite for institutional-grade real estate. NCW aims to democratise access to premium assets while advancing ESG and operational excellence.Read more

02 Jun 2025

The Bengaluru-based managed workspace provider Simpliwork Offices has leased roughly 1.32 lakh square feet across two commercial buildings in the city: Sumadhura Capitol Towers and Pardhanani Wilshire III. The move comes as the demand for flexible, high-performance workspaces continues to surge among enterprises. Currently managing about 4.5 million sq ft, the company aims to nearly double its portfolio to 9-9.5 million sq ft over the coming two years. Founded in 2018, Simpliwork operates over 85 centres across major Indian cities including Mumbai, Pune, and Hyderabad.Read more

02 Jun 2025

Grovy India and Golden Growth Fund (GGF), a Category II AIF, have jointly announced an INR 180 crore investment in three high-end residential projects in South Delhi. The developments, located in Anand Niketan, Neeti Bagh, and a forthcoming Category A colony, will offer a combined built-up area of approximately 70,000 sq. ft. The Anand Niketan project is already under construction, with the other two set to launch in the coming months. Projected sales revenue is around INR 240 crore, with an expected IRR exceeding 20% for investors. GGF, which launched its INR 400 crore AIF in September 2023, remains the only fund dedicated solely to premium land acquisitions in South and Lutyens' Delhi. Grovy India, with a legacy of over 100 luxury projects in the region, continues to strengthen its presence in this ultra-luxury segment, catering to the growing demand among high-net-worth buyers.Read more