14 Dec 2022

The Iranian Zoroastrian Anjuman charitable trust has engaged international property consult Knight Frank to sell its land holdings in Mumbai that sum up to 960 odd acres of land located in the Palghar area of the Mumbai Metropolitan Region. The original landowner Mr Jamshed Khodaram Irani donated more than 2,300 acres to the Charitable Trust in 1928. Since then, several portions of the land were taken back by the government for several purposes, leaving behind only 963 acres. With the sale of the plot, the Trust hopes to use the money to continue its charitable activities in the area to help locals and individuals belonging to the Pari Zoroastrain Community.Read more

13 Dec 2022

Accacia, a proptech start up focused on assisting the real estate and infrastructure sectors in decarbonisation has raised upwards of USD 2.5 million in a seed funding round. The primary investors are B Capital and Accel. Several notable venture capitalist firms such as Good Capital, Blume Ventures, Loyal VC and Rainmatter Fund are said to have participated in the funding round. Acaccia will use the money raised to expand their presence in Southeast Asia while extending their foot to foreign markets in the Middle East, USA and Canada.Read more

13 Dec 2022

The alternative investment arm of the Motilal Oswal Group, Motilal Oswal Alternates has pledged to invest a sum of Rs 450 crores into two projects in Gurugram being developed by Shapoorji Pallonji Real Estate (SPRE). Of the two projects, one is commercial project that has partially completed, leased and operational properties while the other is a residential township project that began construction in 2021.Read more

12 Dec 2022

The Special Window for Affordable and Mid-income Housing (SWAMIH) Investment Fund I has raised a sum of approximately Rs 15,000 crores in its final close on 6 December 2022. The fund has already completed construction of 19,550 homes and is set to deliver another 20,000 for the next three consecutive years. It received a capital infusion, as promised, from the Government of India to the tune of Rs 5,000 crores earlier this year. The additional fund is likely to allow the entity to continue funding ventures until December 2024.Read more

12 Dec 2022

Delhi based tech start up Onsite raised USD 1.5 million in seed funding from Madhumala Ventures and Artha Venture Fund amongst others. The company plans to utilise the money raised towards expanding their market footprint while focusing on product development. Onsite helps small and mid-size construction businesses standardise their procedure to create a better synergy between their site and office teams. Their multi-lingual interface boasts of over 1 lac satisfied customers.Read more

12 Dec 2022

An affordable house financing scheme called Roshni was introduced by PNB Housing Finance (HFC). The programme will allow anyone to apply for loans ranging from Rs 5 lakh to Rs 30 lakh. This initiative fits with PNB Housing Finance's long-term objective of facilitating and supporting a person's desire to buy a home. The Company most recently established Roshni-focused branch offices in Chennai, Coimbatore, Ghaziabad, Hyderabad, Indore/Ujjain, Lucknow, Mumbai, Nagpur, Pune, Rajkot, and Varanasi.Read more

12 Dec 2022

The Telangana Government and CapitaLand India Are said to have signed a Memorandum of Understanding (MoU) to jointly establish a data centre at CLINT's International Tech Park Hyderabad (ITPH) which will be situated in Madhapur. The ITPH data will span across roughly 250,000 square feet and have a 36-megawatt (MW) power capacity. The project is anticipated to require an investment of over INR1,200 Crores (S$210 million) which will be made over the course of the following three to five years.Read more

09 Dec 2022

The Reserve Bank of India has raised interest rates for the fifth time since May 2022. The benchmark lending rate has been increased by 35 basis points to 6.25 percent as of 7 December 2022 in an attempt to tame inflation. This decision is likely to push home loan rates back to pre-covid levels. In totality, the benchmark lending rate has gone by 225 basis points in the last seven months. Experts believe the trajectory of rising interest rates may give the rental market a well-timed stimulus if potential homebuyers find that purchasing a house is beyond their budget.Read more

08 Dec 2022

According to data released by the Maharashtra registration department earlier this week, the state property registration department has already met 78 per cent of its annual revenue target for the year in November. The robust collections are being attributed to several high-value property registrations, higher ready reckoner rates and stamp duty fees. The state is said to have collected approximately Rs 25,000 crores as of 28 November 2002, inching closer to its yearend target of Rs 32,000 crores.Read more

07 Dec 2022

Blox, a real estate prop tech platform launched in 2020 has recently raised almost Rs 100 crores in a series A funding round. The company intends to utilise the funds for market expansion, improving product offerings and building data infrastructure around the customer, broker, and developer segments. The company will also use the newly acquired capital to increase their focus on technology advancements to improve product development frameworks.Read more