Vidhi Sangoi

11 Feb 2025

India's industrial real estate sector is booming, with investments reaching USD 2.5 billion in 2024-a 190% increase from 2023. The surge is driven by the PLI scheme, the "China Plus One" strategy, and demand for logistics parks. Gujarat, Tamil Nadu, and Karnataka account for 72% of PLI investments, with firms like Foxconn and Tata expanding operations. Developers such as IndoSpace and Blackstone are investing heavily in logistics parks. With large-scale industrial hubs like AURIC and Dholera SIR, India's manufacturing shift is accelerating, solidifying the country's position as a global industrial powerhouse.Read more

11 Feb 2025

Akshay Kumar and Twinkle Khanna have sold their Worli luxury apartment for INR 80 crore. Located on the 39th floor of the Three Sixty West tower, the 6,830 sq. ft. property includes four car parking spaces. The sale, registered earlier this month, incurred a stamp duty of INR 4.80 crore. Akshay originally bought the apartment in 2015 for INR 27.95 crore before transferring it to Twinkle for INR 32 crore. The transaction highlights the ongoing boom in Mumbai's luxury real estate market, with celebrities and high-net-worth individuals continuing to see high-end properties as both lifestyle assets and lucrative investments.Read more

11 Feb 2025

Billionaire Uday Kotak, founder-director of Kotak Mahindra Bank, has made a major real estate investment by purchasing 12 residential units in Mumbai's upscale Worli Sea Face for INR 202 crore. The acquisition, which includes 7,418 sq ft of carpet area in the Shiv Sagar building, is among the most expensive transactions in the city. The deal reflects a growing trend of ultra-high-net-worth individuals (UHNIs) investing in Mumbai's luxury housing market. With all units situated across the ground, first, and second floors, speculation arises about potential redevelopment plans. This purchase further cements Worli's status as a prime location for India's wealthiest, alongside similar high-profile acquisitions in recent years.Read more

10 Feb 2025

The Pune and Pimpri Chinchwad metro network will expand with a budget allocation of INR 838.96 crore for FY 2025-26. Maha Metro will prioritize the PCMC-Nigdi and Swargate-Katraj extensions, ensuring financial stability for ongoing projects. While Phase 1 is operational, pending infrastructure work at Khadki and Range Hills stations continues. Metro ridership reached 160,000 daily commuters in January. Additionally, INR 230 crore has been allocated for Mula-Mutha river pollution abatement, with funds supporting Sewage Treatment Plants (STPs). These initiatives will enhance urban transit, last-mile connectivity, and sustainability, ensuring Pune's continued infrastructural growth.Read more

10 Feb 2025

HDFC Bank has secured a significant office lease deal in Mumbai's Andheri East, spanning over 4.50 lakh sq ft across seven floors in a commercial tower. The long-term lease, valued at over INR 1,020 crore, includes a clause for rental escalation every 36 months. The agreement commenced last week and provides exclusive access to 227 car parking spaces. Additionally, HDFC Bank is divesting non-core real estate assets, including high-profile properties like HDFC House in South Mumbai, to streamline its portfolio and enhance its financial strength. This move is part of a broader trend in India's growing office space market, driven by economic expansion and rising demand.Read more

07 Feb 2025

To alleviate Bengaluru's congestion, the Karnataka State Cabinet has approved a plan to develop satellite towns with enhanced road and rail connectivity. The towns of Devanahalli, Nelamangala, Hoskote, Doddaballapur, and Magadi will be included in this initiative. The Greater Bengaluru Development Authority (GBDA) will oversee the development of areas within Ramanagara district, integrating the Bidadi Smart City project. Spanning over 8,943 acres, the project aims to provide employment opportunities and create a well-planned urban environment. The township, located along the Bengaluru-Mysuru expressway, will follow a work-live-play; model, with a globally recognised firm appointed to draft the master plan. The initiative is a major step towards sustainable urban expansion.Read more

07 Feb 2025

The Jaipur Development Authority (JDA) has made its GIS-based Master Plan 2025 available online, allowing residents to access land-use information remotely. This initiative aims to improve urban governance by eliminating the need for physical visits to the JDA office. The digital platform provides details on different land-use categories, such as residential, commercial, and ecological zones. JDA is also planning to expand the system by including additional land-related data, such as 90A boundaries, Land Bank details, and Colony Maps.Read more

07 Feb 2025

Chennai Metro Rail Limited (CMRL) has allocated INR 154 crore for land acquisition along a 1.1 km stretch of Coimbatore-Sathyamangalam Road at Ganapathy to advance the metro rail project. The city corporation, in collaboration with CMRL, will conduct a land plan survey, while the revenue department will oversee acquisition. CMRL will also establish a city office. The National Highways Department has sanctioned INR 54 crore for road widening. CMRL approved INR 2 crore for surveying underground utilities. Once CMRL appoints personnel to the Coimbatore office, the project will progress faster, enhancing urban transport and easing congestion.Read more

Vriti Gothi

07 Feb 2025

The SWAMIH Fund, launched in 2019, aims to finance stressed and stalled residential projects. The government has now introduced SWAMIH Fund-2 with an INR 15,000 crore allocation, expected to complete 1 lakh housing units by 2025-26. The fund prioritizes affordable and mid-income housing projects facing financial distress, legal issues, or NPA status, benefiting homebuyers waiting for possession. So far, 50,000 units have been completed under SWAMIH Fund-1, with 40,000 more expected in 2025.Read more

06 Feb 2025

The Coimbatore district administration and city corporation recently conducted a joint inspection to assess land acquisition needs for the Coimbatore Metro Rail and highway improvement projects. Officials from multiple departments proposed integrating land acquisition for a 1km stretch along Sathyamangalam Road to optimise costs and minimise disruptions. The national highway department urged prioritising land for the highway project, while Metro Rail's acquisition process may take longer. The proposal will be discussed in an upcoming board meeting, with potential implications for future urban infrastructure planning. If approved, this integrated approach could streamline development efforts in Coimbatore, enhancing coordination between major infrastructure projects.Read more