19 Jul 2023

hBits, a tech-enabled fractional ownership platform, has received regulatory approval from SEBI to establish a Rs 500 crore alternative investment fund for commercial real estate. With a focus on Grade-A projects, hBits aims to provide investors with fractional ownership opportunities and target an impressive return rate of 18–20 percent. This milestone solidifies its position as an industry heavy weight, enabling it to shape the future of commercial real estate investment. With existing assets under management of Rs 220 crore and a growing user base, hBits is well-positioned to revolutionize the real estate landscape.Read more

18 Jul 2023

The Delhi government has announced an increase in transfer duty on immovable property transfers, which has received mixed reactions. The enhancement applies to registration of instruments exceeding Rs 25 lakh, with the duty increasing from 2% to 3% for females and from 3% to 4% for males and other entities. Critics argue that this increase will burden home buyers and potentially dampen the real estate market, while others believe the market will gradually adjust. The counter viewpoint suggests the increase is necessary for generating revenue and funding development projects but fails to consider the potential negative consequences on the market.Read more

18 Jul 2023

The House of Abhinandan Lodha (HoABL) announces a monumental investment of Rs 1,200 crore dedicated to the development of Ayodhya, aligning with the government's vision of establishing it as a global spiritual capital. This investment signifies HoABL's belief in Ayodhya's potential as a cultural and economic powerhouse. With the inauguration of their state-of-the-art office in Ayodhya, HoABL solidifies its commitment to the city's growth and prosperity. The investment extends beyond Ayodhya, as HoABL pledges an additional Rs 3,000 crore investment in the state, aiming to create lasting impacts. Esteemed guests and dignitaries graced the inauguration, emphasizing the significance of the investment and affirming Ayodhya's prominence on the global stage.Read more

18 Jul 2023

Property Share achieves a significant milestone by acquiring Phase I of Prestige Tech Platina, a Grade A property in Bangalore spanning 533,000 square feet. Valued at Rs 370 crore, this acquisition positions Property Share as the leading tech-enabled commercial property investment platform in India. The property boasts a prestigious tenant, attractive rental yield, and a secure lock-in period, aligning with Property Share's vision of premium assets in sought-after locations. Property Share aims to raise the total value of listed properties to Rs 2,500–3,000 crore in the coming year.Read more

17 Jul 2023

In a testament to the soaring demand for coworking spaces, 315Work Avenue has leased 400 seats in Bangalore to a leading financial services technology provider. The workspace, located in Indiranagar, offers state-of-the-art infrastructure and caters to diverse client needs. With 40,000 seats managed across prime locations, 315Work Avenue aims to add another 2 million square feet this year. The founder highlights the advantages of coworking, such as cost savings, productivity boosts, and enhanced employee experiences. India's flexible space market is expected to surpass 80 million square feet by 2025, promising a bright future for this innovative industry.Read more

17 Jul 2023

Let's Work, a pioneering co-working space in India founded by Kushagra Awasthi, has been acquired by Angel Investors. This acquisition marks a significant milestone in Let's Work's journey, having fostered cooperation and community within the start-up ecosystem. With a track record of full occupancy, Let's Work has been at the forefront of providing a modern and dynamic environment. Let's Work offers top-notch facilities and inspiring interiors. The acquisition solidifies Let's Work's position as a leader in the co-working industry, poised to expand and innovate further in fostering collaboration and innovation.Read more

17 Jul 2023

Tier 3 housing markets are gaining prominence as catalysts such as hybrid work models, e-commerce platforms, social infrastructure development, and affordability drive housing demand in these cities and towns. Lenders, including Bank of Baroda, Sundaram Home Finance, Vastu Housing Finance, and PNB Housing Finance, are shifting their focus to these markets to tap into the untapped potential. With ticket sizes ranging from Rs 12 lakh to Rs 50 lakh, tier 3 markets primarily comprise housing plots and self-construction. The financial industry recognizes the growth potential in these markets and aims to contribute to their transformation and robust growth.Read more

17 Jul 2023

Resident’s welfare associations in Hyderabad are rallying for a uniform property tax assessment system. Their campaign aims to rectify the disparities between peripheral areas and the GHMC. With one lakh memoranda, they seek equitable property tax assessments based on the annual rental value system. The RWAs emphasize the lack of uniformity in assessments across ULBs and urge consistency. They also pledge to enhance voter registration and advocate for the accurate determination of Full Tank Level areas in lakes. Their collective efforts strive for fairness and progress in Hyderabad's property tax landscape.Read more

17 Jul 2023

Experion Developers, backed by Experion Holdings, has acquired land parcels in the NCR for residential and commercial development. With a focus on the Gurugram and Lucknow markets, they are investing in projects on Golf Course Road and in Noida. Their vision is to reshape the real estate landscape by creating iconic destinations that redefine luxury living. The land acquisitions reflect their commitment to expansion and delivering exceptional projects. With a strong foundation and a visionary approach, Experion Developers aims to inspire awe and admiration in the real estate industry.Read more

17 Jul 2023

Strata, a leading real estate investment group, has partnered with India Land and Global Group to expand its presence in the Indian market. The collaboration aims to develop commercial properties in Maharashtra and Tamil Nadu. The partnership has led Strata to plan the raising of funds for a project in Pune's Hinjewadi area, covering 120,000 square feet with an expected rental yield of 8-9%. The collaboration will accelerate the growth and geographic reach of both companies, expanding their presence by offering new opportunities in commercial real estate across Maharashtra and Tamil Nadu.Read more