03 Jun 2025

Mumbai-based Kanakia Group has entered into a strategic joint venture with US-headquartered Hines and Japanese conglomerates Mitsubishi Estate and Sumitomo Corporation to develop a premium 1.5 million sq ft office complex at Bandra Kurla Complex (BKC), Mumbai. This collaboration will see Kanakia provide the land parcel, while Hines, MEC, and Sumitomo step in as institutional investors and development partners. The project, spread over 3 acres, is set to feature not only office spaces but also F&B and retail elements. This marks a major milestone in Hines' expansion in India and strengthens its long-term strategic presence in Mumbai.Read more

03 Jun 2025

Pharma tycoon Leena Gandhi Tewari made headlines recently for paying an incredible INR 639 crore for two duplex apartments with a view of the sea in Mumbai's affluent Worli neighborhood. The acquisition, inclusive of stamp duty and GST, brought the total transaction value to approximately INR 703 crore, establishing it as the most expensive residential property deal in India to date. Located within the ultra-premium Naman Xana tower, the 22,572 sq. ft. apartments reflect a growing trend among ultra-rich individuals particularly from the pharma sector towards high-end residential investments in the financial capital.Read more

03 Jun 2025

Prestige Estates Projects Ltd reported an 82% YoY drop in consolidated net profit to INR 25 crore in Q4 FY25, down from INR 140 crore. Total income also fell to INR 1,589.3 crore from INR 2,232.5 crore. For FY25, net profit declined to INR 467.5 crore (from INR 1,374.1 crore), with total income dropping to INR 7,735.5 crore. Amidst this downturn, the Bengaluru-based developer announced a strategic joint venture with Valor Group to co-develop a 1.5 million sq. ft. premium commercial office project in Andheri West, Mumbai, with an estimated Gross Development Value (GDV) of INR 4,500 crore. Both companies will hold equal 50% stakes, with Prestige investing INR 504 crore via an SPV. The project aims to strengthen Prestige's presence in Mumbai's thriving commercial real estate market and drive future growth.Read more

02 Jun 2025

Prime Offices Fund, jointly managed by Nuvama and Cushman & Wakefield (NCW), has acquired 'Prius Platinum', a 3 lakh sq ft Grade A office property in South Delhi's Saket District Centre for approximately INR 700 crore. The asset, 95% leased, was earlier acquired via IBC by a Kotak-led consortium and has since undergone significant upgrades. This acquisition aligns with the fund's strategy of investing in sustainable, high-quality commercial assets in major urban hubs. With strong rental income potential, the deal reflects growing investor appetite for institutional-grade real estate. NCW aims to democratise access to premium assets while advancing ESG and operational excellence.Read more

02 Jun 2025

The Bengaluru-based managed workspace provider Simpliwork Offices has leased roughly 1.32 lakh square feet across two commercial buildings in the city: Sumadhura Capitol Towers and Pardhanani Wilshire III. The move comes as the demand for flexible, high-performance workspaces continues to surge among enterprises. Currently managing about 4.5 million sq ft, the company aims to nearly double its portfolio to 9-9.5 million sq ft over the coming two years. Founded in 2018, Simpliwork operates over 85 centres across major Indian cities including Mumbai, Pune, and Hyderabad.Read more

02 Jun 2025

Grovy India and Golden Growth Fund (GGF), a Category II AIF, have jointly announced an INR 180 crore investment in three high-end residential projects in South Delhi. The developments, located in Anand Niketan, Neeti Bagh, and a forthcoming Category A colony, will offer a combined built-up area of approximately 70,000 sq. ft. The Anand Niketan project is already under construction, with the other two set to launch in the coming months. Projected sales revenue is around INR 240 crore, with an expected IRR exceeding 20% for investors. GGF, which launched its INR 400 crore AIF in September 2023, remains the only fund dedicated solely to premium land acquisitions in South and Lutyens' Delhi. Grovy India, with a legacy of over 100 luxury projects in the region, continues to strengthen its presence in this ultra-luxury segment, catering to the growing demand among high-net-worth buyers.Read more

02 Jun 2025

Bollywood legend Amitabh Bachchan has acquired a 25,000 sq. ft. plot near 'The Sarayu,'an ultra-luxury project by The House of Abhinandan Lodha (HoABL), for nearly INR 40 crore. This marks his third major investment in Ayodhya's booming real estate sector. Earlier purchases include a 10,000 sq. ft. plot within The Sarayu township (INR 14.5 crore), a 54,454 sq. ft. parcel near the Ram Mandir (for a proposed memorial), and a 5,372 sq. ft. plot in Haveli Avadh township (approx. INR 4.54 crore). HoABL is marketing The Sarayu as a premium gated community with spiritual and modern appeal. Following the Ram Mandir inauguration, Ayodhya has witnessed a surge in luxury real estate demand, supported by new infrastructure like the Ayodhya International Airport and improved road networks. Bachchan's investments are expected to further boost Ayodhya's status as a rising luxury destination.Read more

30 May 2025

Bengaluru-based real estate developer Sumadhura Group has ventured into the co-working sector with the launch of its maiden centre in Whitefield, Bengaluru, marking the debut of its new vertical, Workship. Spread across 1.3 lakh square feet within Capitol Towers, the centre aims to cater to the rising demand for managed flexible workspaces, particularly from corporates in sectors such as IT/ITeS, agri-tech, and pharma. The company plans to establish three additional centres this fiscal, expanding its managed workspace portfolio to 5 lakh square feet. Sumadhura has previously completed 54 real estate projects totalling over 13 million square feet, with a primary focus on Bengaluru and Hyderabad.Read more

30 May 2025

The Chandigarh Housing Board (CHB) is set to conduct a fresh demand survey after hiking flat prices by up to 40% in its Sector 53 self-financing housing scheme. Earlier this year nearly 7 500 applicants expressed interest in 372 units, compared with just 178 in 2018-19. Following a sharp increase in collector rates, 3-BHK flats have jumped from INR 1.65 crore to INR 2.29 crore, and 2-BHK units from INR 1.40 crore to INR 1.97 crore. The board will offer existing applicants the choice to accept new rates or withdraw, with a final decision due within weeks.Read more

30 May 2025

The Ghaziabad Development Authority will acquire 169 hectares across five villages for its forthcoming Harnandipuram housing scheme, agreeing to pay farmers four times the revised circle rate. The move, approved at GDA's 169th board meeting, carries an outlay of INR 2,384 crore and includes an offer of ten percent of developed plots to those whose land is acquired. A committee led by the district magistrate recommended rates after the circle values were updated in September 2024. The project aims to balance fair compensation with structured urban housing supply.Read more