06 Feb 2025

Infra.Market has secured a 20-year lease for a new 70,000 sq ft office in Thane's Wagle Estate, leasing an eight-floor commercial building from Ekatva Group. The lease will be registered in two phases, with the first three floors in January 2025 and the rest in March 2025. The deal is expected to generate over INR 200 crore in rental income. This expansion aligns with Infra.Market's growth strategy and reflects Thane's rising commercial real estate demand. The move enhances operational efficiency as the company strengthens its market presence amid the construction sector's post-pandemic recovery.Read more

06 Feb 2025

GIFT City, spanning 880 acres, is India's first International Financial Services Centre (IFSC), divided into SEZ and non-SEZ zones. The 2025 Union Budget introduced key incentives, including extended tax exemptions until March 2030 for ship leasing, insurance offices, and global treasury centers, making GIFT City more attractive to international investors. While competition from Singapore, Dubai, and London persists, these incentives enhance India's appeal as a financial services destination. The Budget measures are expected to boost FDI, drive growth, and strengthen India's global financial position.Read more

06 Feb 2025

Panasonic Life Solutions India Private Limited has acquired a 6,586 sq. meter land parcel in Andheri East, Mumbai, worth INR 160 crore, according to property registration documents. The transaction, registered on January 29, 2025, included a stamp duty of INR 9.60 crore and a registration fee of INR 30,000. The land was purchased from River Rose Developers LLP. Andheri East is a major commercial and residential hub, well-connected to key transport links, and home to a thriving business ecosystem. Over the past year, the area saw strong property sales and rental demand. The acquisition signals Panasonic's commitment to India's growth, especially in Mumbai.Read more

05 Feb 2025

The Mumbai Metropolitan Region Development Authority (MMRDA) has entered into a significant partnership with Brookfield, a renowned global investment firm, to accelerate infrastructure development in the Mumbai Metropolitan Region (MMR). This collaboration aims to transform MMR into a Global Economic Hub within the next five to seven years. The MoU, facilitated by MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee, has secured an unprecedented Foreign Direct Investment (FDI) of USD 12 billion (INR 103,800 crore). Additionally, MMRDA's participation in the World Economic Forum (WEF) Annual Summit in Davos has resulted in further MoUs amounting to USD 40 billion. The agreement prioritises Metro projects, urban infrastructure, and sustainable development, supporting Maharashtra's vision of achieving a USD 1 trillion economy while contributing to India's USD 5 trillion economic target.Read more

Harshvardhan Tibrewala, Managing Director, Vida Realty

05 Feb 2025

Sustainable redevelopment is becoming essential as cities like Mumbai face growing housing and infrastructure demands. With real estate contributing nearly 40% of global energy consumption and 30% of greenhouse gas emissions, integrating green practices is no longer optional-it's imperative. Energy-efficient technologies, water conservation measures, and eco-friendly materials can significantly reduce environmental impact while enhancing property value. Despite challenges like high costs and regulatory delays, government incentives and industry collaboration are driving change. Sustainable redevelopment is not just about constructing buildings-it's about creating resilient communities and redefining urban living for a greener, more sustainable future. The time to act is now.Read more

05 Feb 2025

Cricketer Rohit Sharma and his father, Gurunath Sharma, have rented out their 1,298 sq ft apartment in Lodha Marquise, Lower Parel, for INR 2.6 lakh per month. The lease, registered on January 27, was signed with businessman Murali Krishnan Nair and includes two parking spaces. Sharma bought the property for INR 5.45 crore in 2013 and has been expanding his real estate portfolio, leasing two Bandra apartments in January 2024 for INR 3 lakh monthly. His strategic investments reflect Mumbai's rising rental demand in luxury housing, with celebrity transactions influencing market trends in prime locations.Read more

05 Feb 2025

The Maharashtra Government plans to construct one lakh affordable homes through MHADA over the next two years to address growing housing demand. Deputy CM Eknath Shinde announced a new state housing policy, with Mumbai identified as a key growth hub. MHADA aims to develop eight lakh homes, including rental units for working women, students, and seniors. With over 71,600 applications for 3,662 MHADA lottery homes, demand remains high. The government is also prioritizing cluster redevelopment and slum rehabilitation in Mumbai, Pune, and Thane, reinforcing its commitment to affordable housing and urban development.Read more

04 Feb 2025

Wankhede Stadium, an iconic landmark in Indian cricket, recently celebrated its 50th anniversary with a grand event hosted by the Mumbai Cricket Association (MCA). Sponsored by Sugee Group, the evening was filled with nostalgia and performances by renowned artists, accompanied by a spectacular laser show. The event brought together cricketing legends, including Sunil Gavaskar, Sachin Tendulkar, Rohit Sharma, and Ajinkya Rahane, to honour the stadium's historic legacy. Groundsmen and support staff were also recognised for their contributions. The occasion reinforced Mumbai's cricketing heritage and its continued role in shaping future generations of players.Read more

04 Feb 2025

Bollywood director Subhash Ghai and his wife, Mukta Ghai, sold their 1,760 sq. ft. apartment in Andheri West's Rustomjee Elita for INR 12.85 crore on January 22, 2025. Purchased in 2016 for INR 8.72 crore, the sale reflects a 47% appreciation. The property fetched INR 72,000 per sq. ft., exceeding Andheri's premium rates of INR 65,000 per sq. ft. This transaction aligns with Mumbai's luxury housing boom, following recent high-profile sales like Amitabh Bachchan's INR 83 crore Andheri duplex and Akshay Kumar's INR 4.25 crore Borivali flat. Improved infrastructure and surging demand for high-end properties continue to bolster Mumbai's real estate market.Read more

04 Feb 2025

Kochi Metro Rail Ltd (KMRL) has issued a request for proposal (RFP) to prepare the detailed project report (DPR) for its 18 km Phase III Metro line from Aluva to Angamaly via Kochi airport. The Ministry of Housing and Urban Affairs has granted in-principle approval for financial assistance. The project will feature 15 stations, including a 3 km underground section at Nedumbassery. KMRL is also assessing independent corridor feasibility and potential future extensions to Kochi GIFT City. The new line aims to reduce congestion and enhance urban transport, marking a major step in Kochi's infrastructure growth.Read more