13 May 2025

Amazon has renewed its five-year lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli, Mumbai, with a 48-month lock-in period and monthly rent of INR 1.73 crore. The lease covers four Amazon entities and includes 60 parking spaces. Located in the premium 'The Trees' mixed-use development by Godrej Properties and Godrej Fund Management, the office space spans four units on the 7th floor. This renewal highlights Amazon's ongoing expansion in Mumbai and reinforces Vikhroli's rise as a key commercial hub. It also reflects the growing preference for sustainable, well-connected office spaces among global corporations in India.Read more

12 May 2025

The Lucknow Development Authority (LDA) is preparing to initiate the registration process for 2,502 residential flats under the Vishram Nagar Housing Scheme in Devpur Para, Kabir Nagar. The project, which targets households from the Middle-Middle Income Group (MMIG), Low-Income Group (LIG), and Economically Weaker Section (EWS), provides a range of unit sizes in addition to extensive infrastructure and community facilities. With groundwork nearing completion, the authority has directed officials to finish all civil, electrical, and infrastructural tasks within this month. Registrations are expected to commence next month.Read more

12 May 2025

The Uttar Pradesh government has outlined an expansive plan to construct over 6 million homes under the PMAY-Rural scheme in the 2025-26 financial year, nearly doubling the number built in the previous year. Following a thorough housing needs survey that attracted over 5.4 million applications, the administration is focusing on identifying eligible beneficiaries, particularly among SC/ST communities. With extensive verification protocols, door-to-door surveys, and awareness campaigns, the state is striving to implement the programme inclusively and efficiently.Read more

12 May 2025

Bollywood star Ajay Devgn has leased a 2,545 square foot office space for INR 5.47 lakh a month in Andheri West, Mumbai. The five-year lease, registered earlier this month, involves a security deposit of INR 16.42 lakh. The rental agreement includes a clause for an increase to INR 6.29 lakh per month after three years. This transaction is part of Devgn's broader investment in commercial real estate, having acquired five office units in the Signature by Lotus building for INR 45.09 crore in April 2023. The current lease is with Bombay Design Centre Pvt Ltd.Read more

12 May 2025

Tata Consultancy Services (TCS) has signed a 15-year lease for 1 million sq ft of office space at Paradigm Rajapushpa in Hyderabad's Financial District, highlighting the city's growing prominence as a tech and business hub. The lease, starting October 1, 2024, carries a monthly rent of INR 4.3 crore with a 12% annual escalation and an initial 11-month rent-free period. TCS paid a security deposit of INR 26.22 crore. This move aligns with Hyderabad's rising demand for large office spaces, driven by Global Capability Centers and tech firms. With 12 million sq ft leased in 2024, Hyderabad's commercial real estate sector continues its strong growth trajectory.Read more

09 May 2025

According to a report by JLL India, sales of residential real estate in Bengaluru fell 10% year over year in the first quarter of 2025, totaling 15,340 units. Despite this dip, the city saw a significant 62% surge in new launches, reaching 20,484 units. The luxury housing segment, particularly apartments priced between INR 3-5 crore, witnessed a remarkable 119% growth in sales. Whitefield emerged as a key area, contributing 35% to the quarter's overall sales. The average property prices in Bengaluru rose by approximately 13% compared to the previous year.Read more

09 May 2025

Chennai's residential real estate market began 2025 on a strong note, with rising sales, improved buyer confidence, and steady demand, according to CREDAI Chennai. Sales rose 7% quarter-on-quarter and 27% year-on-year in Q1, reaching 3,783 units. Ready-to-move and near-completion homes remained most preferred. The RBI's repo rate cut and revised income tax slabs have boosted affordability, especially for first-time buyers. Demand surged in southern suburbs and emerging hubs like Parandur, Minjur, and Sriperumbudur, driven by infrastructure growth and Metro Phase II. With government support and a focus on regulatory compliance, the market is poised for sustained expansion, offering strong potential for both buyers and investors.Read more

09 May 2025

In Siddharth Vihar, Ghaziabad, the Uttar Pradesh Housing Board is getting ready to offer more than 150 residential plots. This township, covering 635 acres along the Delhi-Meerut Expressway, is approximately a 30-minute drive from Noida City Centre and Connaught Place. With ongoing infrastructure developments, including plans for RRTS connectivity and improved road access, Siddharth Vihar is emerging as a promising residential destination. The area has witnessed significant growth, with over 40,000 residents already settled in various housing projects.Read more

09 May 2025

Prestige Estates Projects Ltd plans to invest INR 10,000 crore over six years to develop a 62.5-acre township, 'Prestige City, Indirapuram,' in Ghaziabad-its first residential venture in Delhi-NCR. The 10 million sq ft project will include 4,041 residential units and an 8 lakh sq ft mall, with Phase 1 launching 3,421 units and a sales potential of over INR 9,000 crore. Despite a 19% dip in FY24 sales bookings due to project delays, the company saw a 36% rise in average price realisation. With over 300 completed projects, Prestige's new venture signals a strategic push into North India's real estate market.Read more

08 May 2025

The Nagpur Municipal Corporation has set a new benchmark by selling a 1.25 lakh sq ft plot on Orange City Street for INR 235 crore-its highest-ever per sq ft rate at INR 18,784. The land, earmarked for a premium commercial complex, is part of NMC's monetization drive to fund infrastructure projects. So far, six plots have generated INR 561 crore, with rates steadily rising across sales. Strategically located and part of a growing commercial corridor, the Orange City Street initiative is attracting major investments, reinforcing Nagpur's emergence as a key urban and real estate hub in central India.Read more