07 May 2025

Hyderabad's residential real estate market has seen a sharp downturn, with home sales falling by 58% in Q1 FY25 year-on-year and by 38-43% over the past three quarters. Luxury housing, once a key growth segment, now faces a glut, with over 28,000 unsold units and 20 months of inventory. The city also leads in office space vacancy among India's top seven metros, with 28 million sq ft lying vacant. Developers are shifting focus toward affordable housing and delaying premium launches. In contrast, Pune and Bengaluru continue to show resilience, driven by steady demand and robust employment trends.Read more

07 May 2025

The Konkan Housing and Area Development Board, under MHADA, has launched a new digital platform called 'Book My Home,' enabling buyers to directly select from 13,395 unsold flats across the Mumbai Metropolitan Region under the First Come, First Serve (FCFS) scheme. Flats located in Virar, Khoni, Shirgaon, Gothivare, and Bhandarli, priced between INR 17 lakh and INR 30 lakh, can now be booked in real-time with floor and unit selection. The Aadhaar and PAN-based registration process is fully online and digitally verified. The initiative aims to improve transparency, reduce delays, and activate dormant inventory amid growing demand for affordable housing in peripheral Mumbai.Read more

06 May 2025

MHADA is set to redevelop its Bandra East headquarters through a public-private partnership (PPP), replacing the current office with a multi-storey commercial tower near BKC. The selected developer will construct MHADA's new offices free of cost in exchange for rights to lease or sell a portion of the commercial space. The site's proximity to BKC and Bandra station positions it as a prime redevelopment opportunity within Mumbai's urban renewal zone. Once land ownership clearances are obtained, the project will proceed. MHADA may extend this model to other high-value properties, using commercial redevelopment to fund future affordable housing initiatives.Read more

06 May 2025

Indian cricketer Yuzvendra Chahal has leased a 1,399 sq ft luxury apartment in Andheri West, Mumbai for INR 3 lakh per month, with a two-year agreement and a 5% rent hike after the first year. The Transcon Triumph property is owned by actress and former Miss World India Natasha Suri. The move follows Chahal's recent divorce from Dhanashree Verma and reflects a growing trend of cricketers investing in Mumbai's high-end real estate. With premium amenities and proximity to studios and business hubs, Andheri West remains a prime choice for celebrities and athletes seeking upscale, well-connected urban residences.Read more

06 May 2025

The Nagpur Municipal Corporation (NMC) plans to build 2,500 new houses in 2025-26 under the Ramai Housing Scheme, which aims to support Scheduled Castes and Neo-Buddhists by providing affordable housing. So far, 5,795 families have benefitted, with INR 112.40 crore spent out of the INR 142.43 crore sanctioned. Under the scheme, families with an annual income of up to INR 3 lakh are eligible for a subsidy of INR 2.5 lakh towards construction. Around 1,500 new beneficiaries were added this year. Ashi Nagar has recorded the highest number of beneficiaries. In January 2024, NMC received about 2,500 new applications.Read more

06 May 2025

Dawat-e-Hadiyah, the Dawoodi Bohra community's administrative arm, has acquired Killick House, a Grade 1 heritage structure in Mumbai's Fort area, for over INR 72 crore. Spread across 27,577 sq ft, the property-once headquarters of Killick Nixon Ltd-was purchased from Nippon Investment and Finance Co. in early 2025 via four agreements. This follows the trust's 2017 purchase of Fort House for INR 300 crore. Situated next to Cathedral School on Hornby Road, Killick House exemplifies colonial-era architecture. The acquisition highlights Dawat-e-Hadiyah's ongoing efforts to safeguard Mumbai's historical landmarks amid rapid urban development, reinforcing community-led heritage conservation in India's financial capital.Read more

05 May 2025

McDonald's has leased 1.56 lakh sq ft in RMZ Nexity, Hitec City, Hyderabad, to set up its first Global Capability Centre (GCC) in India, marking a strategic shift toward backend operations. The five-year lease, starting February 2025, includes a INR 1.43 crore monthly rent and a 15% hike after three years. This move is expected to create 2,000 jobs. Hyderabad continues to attract global firms due to its skilled talent pool, affordable rentals, and strong infrastructure. With rising GCC activity and over 14 million sq ft of leasing recorded in Q1 2025 alone, the city is emerging as a major office space hub.Read more

05 May 2025

Actor Vicky Kaushal has renewed the lease on his 2,781 sq ft sea-facing apartment in Mumbai's Raj Mahal project, paying INR 17.01 lakh monthly rent for two years and INR 17.86 lakh in the third, totaling INR 6.2 crore over three years. The deal includes a INR 1.75 crore deposit and three parking spots. This move reflects a growing trend among Bollywood celebrities choosing high-end rentals over ownership for flexibility and access to prime locations. With Juhu remaining a celebrity hotspot, the trend is shaping Mumbai's luxury real estate market towards premium rental offerings over outright purchases.Read more

05 May 2025

In a bid to revive stalled housing projects, MHADA has opened seven large layouts across Mumbai-spanning 110 acres in GTB Nagar, Motilal Nagar, Chandivli, Andheri, Mulund, and Backbay-for redevelopment under a new cluster model. The initiative aims to deliver 45,000 new homes by offering better incentives to builders and streamlined processes for residents. MHADA has also launched a Citizen Facilitation Centre with AI tools to enhance transparency and cut out middlemen. Long-delayed projects like Patra Chawl and Motilal Nagar are now being revived, with developers to be selected through open bids and reduced premiums to ensure project viability.Read more

05 May 2025

India outperformed the APAC office market in Q1 2025, with cities like Bengaluru, Mumbai, and Delhi-NCR showing impressive leasing activity despite a regional decline in prime office rents. This exceptional performance was driven by sustained domestic demand and the growth of Global Capability Centres (GCCs). Flex space demand surged by 28%, primarily due to startups and SMEs Vacancy rates differed among Indian cities, yet the constrained supply in India and Southeast Asia contributed to the stabilization of regional vacancy levels. Experts anticipate continued growth in India's office market, supported by infrastructure development and fresh supply in key cities.Read more