19 Oct 2023

Bengaluru's Brigade Group is making significant strides in the real estate market, exemplifying their commitment to expansion with strategic land acquisitions. Their latest acquisition, a 9.71-acre parcel in Hyderabad, reflects the company's prowess and market appeal, with each acre costing a substantial Rs. 68 crores. In Bengaluru and Chennai, Brigade Enterprises has secured prime land for ambitious residential projects, totaling over one million square feet each. These acquisitions not only showcase their confidence in development capabilities but also their vision for creating vibrant and sustainable communities. As a key player in India's real estate industry, Brigade Enterprises is poised for a promising future, emphasizing quality, innovation, and customer-centric values.Read more

19 Oct 2023

In Knight Frank's Global Residential Cities Index Q2 2023, global real estate trends revealed a slowdown, with only a 1.7% YoY growth across 107 cities. However, Indian cities defied this trend, showcasing remarkable resilience and growth. Mumbai surged 76 places to secure the 19th position, Bengaluru climbed to 22nd place, and New Delhi rose to 25th globally. Chennai and Kolkata also made significant progress. Despite global challenges, Indian cities' robust performance underscores their appeal to investors. This success story highlights India's economic strength and real estate potential amidst a shifting global landscape.Read more

19 Oct 2023

Maruti Suzuki, India's top passenger car manufacturer, has secured a lease for 270,000 square feet of office space at Gurgaon's Tag Avenue. This comes after a request by Haryana's Chief Minister to relocate Maruti's headquarters to Gurgaon. Despite this, Maruti has no immediate plans to move from its current New Delhi location. The Haryana government is investing heavily in industrial and commercial development in the region. In Q1 2023, Delhi NCR saw a 4% decrease in leasing activity, with Gurugram at the forefront, accounting for 74% of the activity. Noida contributed 24%. These trends reflect the ongoing dynamics in the region's commercial real estate sector.Read more

18 Oct 2023

HSBC, a major multinational bank, is planning to enter India's real estate development funding sector via the Foreign Portfolio Investment (FPI) route and exploring private debt investments. They aim to invest in real estate projects ranging from 250 to 500 crore each, capitalizing on the flexibility of the FPI route. HSBC's move aligns with the growing trend of global investors in India's private credit market, driven by the influx of funds following the IL&FS crisis. This presents an opportunity in a market estimated at around Rs. 1 trillion, with an annual deployment of Rs. 2500-3000 crore by domestic fund managers.Read more

18 Oct 2023

The Securities and Exchange Board of India (SEBI) is set to auction nine properties associated with Orion Industries Ltd and the Rakhal Bharoti group of companies. This action is aimed at recovering funds raised from investors by these entities. The properties include land parcels in West Bengal and Jharkhand, with a total reserve price of around Rs 9 crore. The online auction, scheduled for November 20, is facilitated by Quikr Realty Ltd. SEBI has urged potential bidders to conduct independent investigations into encumbrances, property titles, and related claims before participating. These companies had garnered investments without complying with regulatory norms, leading to SEBI's auction decision.Read more

18 Oct 2023

As municipal corporation elections loom, Ludhiana's civic body focuses on updating voter lists, diverting attention from property tax recovery. Employees plan to send SMS reminders instead of notices for dues. Since the one-time settlement was launched, efforts have been redirected towards recovering pending house tax amounts. Officials express the city's potential for Rs 250 crore in property tax but cite improper categorization hindering accurate taxation. Plans to reassess tax slabs are underway to rectify anomalies and ensure a fair taxation system and a committee has been formed for this purpose.Read more

17 Oct 2023

India is on the cusp of a data centre expansion, set to potentially double its capacity to 23 million sq ft within three years. A recent report, "India Data Centers: Entering Quantum Growth Phase," by Colliers India and CII, unveiled this promising outlook, projecting a $10 billion investment opportunity across seven leading cities. The report covers key cities, showcasing their IT load capacity, emphasizing the pivotal role of real estate in India's economic growth, and the growing importance of ESG standards in the real estate sector. With factors like data consumption and regulatory changes, data centre capacity could reach 1,800MW by 2026, led by Mumbai, Chennai, and Hyderabad. Tier-II cities also emerge as potential data centre locations, signifying India's digital transformation and the vital role of both Tier I and Tier II cities.Read more

17 Oct 2023

In the first half of FY24, private equity investments in the Indian real estate sector experienced a notable shift. The ANAROCK Capital report "FLUX - 1H FY24" revealed an increase in the average investment size to USD 117 million, primarily driven by a massive deal involving Brookfield India Real Estate Trust REIT and Singapore's GIC. Despite subdued overall investment activity, the top 10 deals accounted for 95% of total PE investments. Office assets, especially Grade-A properties, remained a top choice for investors. Emerging trends included growing interest in data centres and continued debt investments in the luxury residential sector. Equity investments dominated, and multi-city transactions, particularly in Mumbai, surged. The sector showed resilience, with promising opportunities for both domestic and foreign investors.Read more

17 Oct 2023

In the first half of the 2023-24 fiscal year, property registrations in the Indore and Ujjain divisions surged, with 2,73,876 properties registered across 15 districts. This resulted in a revenue of Rs 1,993 crore, marking a 13% increase from the previous year. Indore alone contributed Rs 1,088 crore which is attributed to its booming IT and commercial sectors. Infrastructure developments including expanded road and metro networks, have further fuelled the property market's growth in and around Indore.Read more

17 Oct 2023

Mercedes-Benz Research and Development India Private Limited, a leading luxury car manufacturer, has extended its lease for seven floors in Bengaluru's Embassy Crest building. The five-year lease, commencing on May 1, 2023, covers 5.42 lakh square feet and involves a substantial monthly rent of Rs 2.5 crore and a security deposit of Rs 48 crore. These office premises are dedicated to research and development (R&D) and IT purposes, and the agreement includes a 5 percent annual escalation clause. This renewal highlights Mercedes-Benz's commitment to innovation and R&D, reflecting the vital role of technological advancements in the automotive industry's future. Choosing Bengaluru underscores the city's tech and innovation prominence, positioning it as a key hub for research and development in the automotive sector.Read more