26 May 2025

The Maharashtra Housing and Area Development Authority (MHADA) has taken control of the long-delayed redevelopment of the Parvati Building in South Mumbai. Approved back in 2013, the project remained incomplete due to failed developer appointments and non-payment of rent to displaced tenants. Earlier this week, MHADA informed the Supreme Court of its decision to proceed under Section 91-A of the MHADA (Amendment) Act, 2020. The agency will now manage the redevelopment directly and ensure interim housing or rental compensation for affected residents, potentially setting a precedent for other stalled projects across the city.Read more

23 May 2025

SmartHomes Infrastructure Pvt. Ltd., a key player in the development of Dholera Smart City, has recently secured official membership with CREDAI Ahmedabad GIHED, further cementing its status as a trusted real estate leader in Gujarat. With over a decade of experience, the company has successfully developed multiple large-scale integrated townships and pioneered landmark hospitality projects, including a collaboration with Marriott Hotels to introduce Dholera's first 5-star luxury hotel. This strategic alliance with CREDAI enhances SmartHomes' commitment to ethical practices, regulatory compliance, and collaboration, driving sustainable urban growth in India's first and largest Greenfield smart city.Read more

23 May 2025

The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a INR 1,500 crore loan from Bank of Maharashtra to kickstart the redevelopment of Ramabai Ambedkar Nagar and Kamraj Nagar in Ghatkopar. This marks the first financial closure under MMRDA's INR 8,498 crore Slum Rehabilitation Authority (SRA) project and its first direct involvement in slum redevelopment at this scale. Backed by Chief Minister Devendra Fadnavis and Deputy CM Eknath Shinde, the project aims to transform dense informal settlements into dignified residential zones. With a funding mix of institutional loans and internal revenues, MMRDA plans to deliver inclusive, sustainable redevelopment and set a model for future urban renewal efforts.Read more

23 May 2025

Former Indian cricketer Shikhar Dhawan has recently purchased a high-end apartment worth nearly INR 69 crore in DLF's ultra-luxury residential project, 'The Dahlias', situated on Golf Course Road in Gurugram. The 6,040 sq ft property was registered in a sale agreement reviewed by CRE Matrix, with the property value at INR 65.61 crore and an additional INR 3.28 crore paid in stamp duty. The Dahlias, launched by DLF in a 17-acre expanse last year, follows the success of 'The Camellias' and is expected to generate INR 35,000 crore in revenue.Read more

22 May 2025

Dwarka Expressway has evolved into a prominent real estate hotspot, witnessing the launch of nearly 43,000 housing units over the past 15 years. As per a recent report by PropEquity, the launch price per sq. ft. surged by an impressive 397%, touching INR 18,668 in 2024. The stretch has particularly flourished in the last five years with sectors such as 113, 37D, 106, 111, and 103 accounting for 74% of new launches. With 4BHK configurations dominating and infrastructure growth fuelling demand, this corridor is rapidly solidifying its status as a lucrative investment zone.Read more

22 May 2025

Vineet Kapur, founder of skincare brand O3plus, and his wife Sonia Kapur have purchased a bungalow in Delhi's upscale Vasant Vihar for INR 72 crore. The 663 sq. m. property was registered this week, with a stamp duty of INR 1.8 crore. The deal reflects growing interest in luxury homes among affluent buyers, especially in South Delhi's prestigious MCD colonies near Lutyens' Bungalow Zone. Experts cite rising incomes, better infrastructure, and aspirational living as key drivers of this demand. Facilitated by CBRE, the transaction adds to a series of high-value deals in the area, underscoring strong confidence in Delhi's premium real estate market.Read more

21 May 2025

San Francisco-based business software company Rippling has opened its second office in Bengaluru, expanding its operations within Embassy Tech Village. The new facility, covering over 100,000 square feet, will accommodate teams across engineering, product, sales, and customer support. The company, valued at USD 16.8 billion, has also announced plans to double its workforce in India from 1,000 to 2,000 employees within the next three years. Founded in 2016, Rippling operates offices in key global cities, including San Francisco, New York, Austin, London, Dublin, Sydney, and Bengaluru.Read more

20 May 2025

Gokhale Constructions has acquired a 3.5-acre land parcel from HND Trust in Pune for INR 311 crore to develop a premium residential and retail project. The project is expected to generate revenue of INR 2500 crore through the construction of 16 lakh sq ft of residential space and high-end retail. Additionally, a 51,000 sq ft hostel with modern amenities is also part of the development. The starting price for a condominium is projected to be INR 7 crore. The company is also expanding its portfolio in Pune, with 2 million sq ft of residential and 3 million sq ft of commercial space under development. Furthermore, Gokhale Constructions is in advanced negotiations to enter the Mumbai real estate market, aiming to acquire properties in prime locations.Read more

20 May 2025

Eternal Ltd, formerly known as Zomato, has leased 84,157 sq ft of office space in Andheri (East), Mumbai from Histyle Retail Pvt Ltd for a period of five years. According to CRE Matrix, the monthly rent is set at INR 160 per sq ft, amounting to approximately INR 1.34 crore. The rental agreement, which was registered last week, includes a 15% rental escalation after three years. Demand for office spaces has surged over the past two years, driven by domestic and foreign corporations, with 2024 witnessing a record-breaking year in gross office leasing activities. Zomato officially rebranded itself as 'Eternal Ltd' on the stock exchanges last month.Read more

20 May 2025

CREDAI MCHI Thane successfully hosted the 11th Sports Day at Leno Sports Park, Balkum, with a cricket tournament featuring 20 teams, including those from the Thane Municipal Corporation's Fire Department, PWD, and TDO. The event emphasised athleticism, unity, and camaraderie within Thane's real estate sector, with notable attendees including actor Tanuj Virwani at the toss and actors Nyra M Bannerjee and Eijaz Khan at the prize distribution ceremony. A new norm mandated each team to have a female player bowl at least one over, promoting inclusivity. JVM Spartans from JVM Group emerged as champions, while Raymond Royals secured the runner-up position.Read more