26 Jul 2024

The Noida Authority has approved a 6% increase in land allotment rates for residential and industrial plots, effective from the financial year 2024-25. This decision accompanies a budget approval of INR 7,700 crore for the upcoming year. The hike affects residential plots in categories A to E, with prices ranging from INR 1.25 lakh to INR 48,110 per square metre. Group housing and industrial plot rates have also risen by 6%, impacting developments across the region.Officials attribute the increase to inflation and anticipate generating substantial revenue to support ongoing development projects in Noida.Read more

25 Jul 2024

Sanjay Chhabria, Managing Director of Radius Group, was denied bail by the Bombay High Court in connection with an alleged INR 3,700 crore money laundering case involving Yes Bank and DHFL. Arrested by the Enforcement Directorate (ED), Chhabria denies wrongdoing. Meanwhile, Radius Group project delays leave homebuyers frustrated, unable to register their flats or move in as planned. These delays impact life savings and life plans, highlighting the need for transparency and accountability in real estate dealings. With ongoing legal uncertainties, staying informed and seeking support from homebuyer associations are crucial steps for affected individuals during this challenging period.Read more

25 Jul 2024

Goa's luxury real estate market is experiencing a rise, driven by its idyllic beaches, improved infrastructure, and rising international tourism. Luxury homes, including villas and beachfront apartments, attract affluent buyers from major Indian cities and NRIs, with properties priced from USD 5-6 million. Investment appeal is strengthened by strong rental yields of 3-4% for luxury properties and up to 5-6% for short-term rentals. With ongoing infrastructure developments and anticipated price appreciation of up to 12% by 2024, Goa's investor-friendly policies and lifestyle appeal position it as a prime destination for high-end real estate investments.Read more

25 Jul 2024

The Rail Land Development Authority (RLDA) invites developers to transform a prime 3.5-acre plot near Dharmavaram Railway Station into a bustling commercial hub. With a reserve price of INR 9.10 crore and a proposed 45-year lease, the site offers a built-up potential of 26,770 square metres. Located on Station Road with direct access to NH-716 and nearby transport hubs, including airports in Bengaluru and Kadapa, the site promises excellent connectivity. This initiative aims to stimulate economic growth, attract investments, and enhance Dharmavaram's status as the "Silk City of Andhra Pradesh."Read more

25 Jul 2024

A recent JLL India report highlights a shift in new apartment construction towards higher-priced units in major cities. The April-June 2024 period saw a 5% rise in new apartment launches across Mumbai, Delhi NCR, Chennai, Kolkata, Bengaluru, Hyderabad, and Pune, totaling 159,455 units. However, affordable housing (under INR 50 lakh) dropped by 21%, with only 13,277 units launched. In contrast, premium and luxury segments saw significant growth, with units above INR 3 crore more than doubling to 19,202. Despite fewer affordable options, overall sales rose by 22%, driven by strong demand for new properties.Read more

24 Jul 2024

RKN Enterprises, a part of Godrej Industries Group, sold its shares in Godrej Properties and Godrej Agrovet to family members for INR 1,652 crore as part of a family settlement announced in April. This sale included 41.46 lakh shares in Godrej Agrovet for INR 331.70 crore and 39.86 lakh shares in Godrej Properties for INR 1,320.90 crore. The buyers were family members Freyan Crishna Bieri, Jamshyd Naoroji Godrej, Navroze Jamshyd Godrej, Nyrika Holkar, and Smita Godrej Crishna. This follows the Godrej family's decision to split the conglomerate, with Adi and Nadir Godrej retaining Godrej Industries and Jamshyd Godrej controlling Godrej & Boyce.Read more

24 Jul 2024

The Mumbai luxury housing market saw significant growth in the first half of 2024, with sales of homes priced at INR 10 crore or more increasing by 8% to reach INR 12,300 crore, surpassing last year's figures. India Sotheby's International Realty and CRE Matrix reported record-breaking sales, indicating strong market growth and confidence in Mumbai's real estate. The report also analysed and illustrated key trends and demographics in the market. Sales were particularly strong in both primary and secondary segments, with notable increases in unit sizes and buyer profiles, reflecting a robust market poised for continued expansion in 2024.Read more

24 Jul 2024

India's growing senior population is creating a new wave of opportunity in the real estate sector-senior living. A recent report by Colliers predicts a fivefold growth in this market by 2030, fueled by a rise in demand for specialised housing for older adults. By 2050, India is expected to have the world's largest elderly population, with over 300 million senior citizens. Currently, there's a demand for over 320,000 senior living units, but only 20,000 units are available. This significant gap presents a lucrative opportunity for developers. Despite the growth, affordability remains a challenge, highlighting the need for budget-friendly solutions and government support.Read more

24 Jul 2024

SEBI's upcoming auction of eight properties owned by HBN Dairies aims to recoup funds for investors who suffered losses in the company's illegal investment scheme. Promising high returns through cattle purchases and ghee sales, HBN Dairies failed to deliver, prompting SEBI's intervention. Properties on auction include a shopping mall with a multiplex, a hotel, and commercial shops spread across New Delhi, Punjab, Madhya Pradesh, Gujarat, and Maharashtra. The total reserve price is set at INR 67.70 crore, offering investors a potential pathway to partial recovery, albeit with caution about final sale prices meeting expectations and the distribution of proceeds among affected parties.Read more

23 Jul 2024

India's real estate market saw a significant shift in investment focus during Q1 FY25, with warehousing attracting USD 1.5 billion, marking a 14% YoY growth. A major deal between Reliance Retail, ADIA, and KKR drove this rise, accounting for 71% of all PE deals. This contrasts with Q1 FY24, where office spaces dominated with USD 1.4 billion in investments. Multiple cities, including Hyderabad, Bengaluru, Pune, and MMR, saw investor activity totaling USD 436 million. The trend highlights the growing importance of logistics and e-commerce, reflecting an evolving market dynamic in Indian real estate.Read more