05 Jun 2025

Mumbai's luxury real estate market has recorded a sharp 36% increase in unsold inventory during the first quarter of 2025, reversing a consistent downward trend observed over the past two years. This spike is largely attributed to the influx of high-value housing units, priced above INR 2.5 crore, introduced within the Mumbai Metropolitan Region (MMR). While demand in this segment remains steady, a combination of elevated prices and global economic headwinds has tempered the pace of sales. Despite the setback in the premium segment, the city's overall property market continues to display strength, with property registrations and associated revenue reaching new heights in the past few months.Read more

05 Jun 2025

The Prayagraj Development Authority (PDA) is offering 764 unsold affordable flats across 12 residential schemes in Prayagraj, targeting EWS, LIG, and 1BHK, 2BHK, and 3BHK buyers. Allotments will be made via a transparent lottery system. To boost accessibility, PDA has reduced prices by 10% across all categories. Key projects include Jagriti Vihar Awasiya Yojna, Mausam Vihar Apartment, Vasudha Vihar, Mangal Vihar, Sugam Vihar, Yamuna Vihar in Naini, Janhvi Apartment, Manas Vihar, Azad Apartment, Divine Apartment in Trivenipuram (4BHK), Saras Vihar in Jhunsi, and Govindpur luxury flats. PDA has published details on janhit.upda.in and www.pdaprayagraj.org, with helpline support available. This initiative aims to meet Prayagraj's growing housing demand while ensuring transparency and affordability in the home-buying process.Read more

05 Jun 2025

The Lucknow Development Authority (LDA) will conduct a lottery on June 10 to allot 334 residential plots in the Anant Nagar Scheme at Indira Gandhi Pratishthan. Over 13,000 applicants registered online for the scheme. Spread across 785 acres on Mohan Road, Anant Nagar will eventually host 2,100 residential plots, 120 commercial plots, and 60 group housing plots, with 5,000 units reserved for EWS and LIG segments under Pradhan Mantri Awas Yojana. The township will feature a 100-acre Edutech City, 130 acres of green spaces, underground power cables, a grid road network, and a zero-liquid discharge system. The road connecting to Kisan Path will be widened to 24 metres to improve access. Land acquisition and compensation efforts are underway. Anant Nagar reflects Lucknow's push for sustainable, affordable urban housing and modern infrastructure.Read more

04 Jun 2025

Apple India has leased an 8,000 sq. ft. retail space at the upcoming Phoenix Mall of Asia in North Bengaluru, with an annual rental of INR 2.09 crore over a 10-year term. The deal includes a 15% rent escalation every three years and a revenue-sharing clause starting at 2%, rising to 3%. The Hebbal-based mall, developed by Phoenix Mills Ltd and Canada Pension Plan Investment Board, offers Apple a prime retail platform in Bengaluru, complementing its recent store launches in Mumbai and Delhi. The move aligns with Apple's strategy to deepen its direct presence in India, as Foxconn nears completion of a major iPhone manufacturing facility at Devanahalli, set to produce 20 million units annually. Together, these developments highlight Apple's integrated retail-manufacturing approach in India, supporting the government's PLI-driven electronics manufacturing ecosystem and tapping into the country's fast-growing smartphone market.Read more

04 Jun 2025

County Group, a prominent real estate developer in the National Capital Region, has acquired a 13.3-acre land parcel in Wave City, Ghaziabad, for approximately INR 400 crore. This strategic investment aims to develop 1,000 residential units across four apartment configurations, totaling 3 million square feet. The Wave City project, spanning over 4,200 acres along NH-24, has witnessed increased demand, with property prices appreciating by nearly 30% in the past year. The region's connectivity and infrastructure developments, including the operational Hindon Airport and the upcoming Jewar International Airport, further enhance its appeal to investors and homebuyers.Read more

04 Jun 2025

ICRA has upgraded Macrotech Developers Limited's (MDL) long-term credit rating to "[ICRA] AA (Stable)' from "[ICRA] AA- (Positive)' and reaffirmed its short-term rating at '[ICRA] A1+.' The upgrade reflects MDL's rising operational cash flows and improved leverage, with total debt reduced to INR 7,088 crore as of March 2025, down 8% year-on-year. The gross debt-to-CFO ratio improved to 1.09x from 1.49x. MDL's diversified portfolio-spanning residential, office, retail, and warehousing-supports stable cash flows, with warehousing and retail segments poised for stronger growth. The developer leads Mumbai and Thane's residential markets, having delivered over 100 million sq. ft. by March 2025, and holds a 4,080-acre land bank. Its robust 85 million sq. ft. project pipeline and strong liquidity buffer further enhance its credit profile. The rating upgrade highlights MDL's financial strength, diversification strategy, and resilience amid market risks.Read more

04 Jun 2025

Aparna Constructions and Estates has launched a new luxury housing project, Aparna Moonstone, with an investment of over INR 2,525 crore. Located within the integrated Aparna Deccan Town in Hyderabad's Gopanpally-Gachibowli corridor, the project will feature 2,088 residential units across 22.28 acres. The move aligns with rising demand for luxury living as Hyderabad cements its status as a global innovation hub. Managing Director S S Reddy noted that Aparna's legacy of quality positions it to lead this market shift. Founded in 1996, Aparna Constructions has grown into a INR 4,500 crore realty firm with 83 projects spanning residential, commercial, and retail segments across Telangana, Andhra Pradesh, and Karnataka. Aparna Moonstone further strengthens the company's footprint in South India's evolving luxury real estate market, reflecting emerging urban trends and consumer aspirations.Read more

03 Jun 2025

AU Small Finance Bank has acquired an 11-storey office building in Bandra (East), Mumbai, for INR 371 crore from Earthworth Constructions, with an additional INR 22.26 crore paid in stamp duty. The 74,577 sq. ft. property, featuring two basements and 98 parking spaces, will serve as the bank's new corporate headquarters. This is the largest outright office space purchase by a financial institution in 2025. The acquisition follows AU's merger with Fincare Small Finance Bank, expanding its network to over 2,350 touchpoints across 25 states, serving more than 10 million customers. The bank has also applied to transition into a universal bank. The move reflects AU's strategy to consolidate operations and strengthen its Mumbai presence, signalling a trend among financial institutions towards owning prime commercial real estate. The property's location along the Western Express Highway offers key connectivity advantages.Read more

03 Jun 2025

The NCW Prime Offices Fund, a joint venture by Nuvama Asset Management and Cushman & Wakefield, has acquired Prius Platinum, a premium Grade A office building in South Delhi's Saket District Center. The 0.3 million sq. ft. property was purchased from a Kotak Alternate Asset Managers-led consortium, which had acquired it in 2021 via the Insolvency and Bankruptcy Code (IBC) process for INR 450 crore. The building has since undergone significant upgrades, including ESG-focused enhancements, achieving a 95% occupancy rate with a five-year WALE and strong lock-in periods. The NCW Prime Offices Fund recently raised INR 1,700 crore and targets a corpus of INR 3,000 crore. Its investment focus is on developing Grade A+ 'Offices of the Future' across India's top commercial hubs-NCR, Bengaluru, Mumbai, Pune, Chennai, and Hyderabad-aligned with evolving corporate workspace trends and sustainable development practices.Read more

03 Jun 2025

Vizianagaram district, Andhra Pradesh, faces delays in completing nearly 6,924 of 11,000 Pradhan Mantri Awas Yojana (PMAY) homes. Despite additional government funding, many beneficiaries have not begun construction. Authorities suspect some recipients already own homes and have ordered verification visits to cancel ineligible allotments. At a recent review meeting, District Collector Dr. B.R. Ambedkar highlighted slow progress, especially in Bobbili and Vizianagaram urban areas, citing issues like water shortages and borewell theft. Officials were directed to operationalise borewells within two days and launch door-to-door awareness campaigns on available financial support. Daily construction targets and weekly progress reviews have also been mandated. Additionally, 4,096 new housing applications and 2,500 manual applications will undergo eligibility verification. The district aims to ensure timely completion of PMAY homes and deliver affordable housing to all eligible beneficiaries through focused verification and improved infrastructure.Read more