Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
09 Apr 2025
According to a CBRE report, India's office leasing market saw significant growth in Q1 2025, with 18 million sq. ft. absorbed, reflecting a 5% year-on-year increase. The banking, financial services, and insurance (BFSI) sector recorded a 100% YoY growth, contributing 26% of total absorption. Global Capability Centres (GCCs) played a key role, accounting for 45% of the total leasing. Bengaluru, Delhi-NCR, and Mumbai led leasing activity, with strong demand from BFSI, technology, and life sciences sectors. Additionally, 81% of office leases were in green-certified buildings, underscoring a focus on sustainability.
08 Apr 2025
Foreign companies rented 111.6 lakh sq ft office space in January-March this year across nine major cities, contributing 62% to the total demand, according to CBRE. Anshuman Magazine, Chairman & CEO -- India, South-East Asia, Middle East & Africa, CBRE, said that established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline. "As businesses seek quality workspaces, the demand for sustainable offices is rising, with occupiers prioritizing employee experience and long-term growth. A key factor shaping this momentum is the growing presence of Global Capability Centres," Magazine said.
Source: PTI
08 Apr 2025
The Maharashtra Housing and Area Development Authority (MHADA) on 4 April successfully conducted a computerised lottery draw, allotting 663 rehabilitation tenements to eligible residents of the Patra Chawl (Siddharth Nagar) redevelopment project in Goregaon (West), Mumbai. The project, delayed for nearly 15 years, has now received its Occupancy Certificate and offers 686 parking spaces, exceeding the regulatory requirement. MHADA assured continued rent compensation until May 2025 and free structural repairs for a year post-possession. Initially assigned to Guru Ashish Construction in 2008, MHADA took over the project four years ago following construction delays.
08 Apr 2025
Deputy Chief Minister Shri Eknath Shinde has directed the formation of a committee to identify land and formulate conditions for providing ownership homes to residents of the Bandra government colony. Spread over 125 acres, the colony includes 5,000 staff quarters and has long-awaited redevelopment plans. A delegation from the Government Quarters Residents' Association (GQRA) proposed 16 acres for 2,700 homes, offering to pay INR 200-250 crore at concessional rates. The move follows increased urgency after the Supreme Court's directive to allocate land to the Bombay High Court for a new complex.
08 Apr 2025
Japan's Sumitomo and a Brookfield-led consortium have emerged as the highest bidders for three premium land parcels auctioned by the Mumbai Metropolitan Region Development Authority (MMRDA) in Bandra Kurla Complex (BKC), raising over INR 3,839 crore. The bids significantly exceeded the reserve price of INR 2,973 crore set last year. Sumitomo won plots C-13 and C-19 with offers 39.61% and 40.20% above reserve rates, while a consortium including Schloss Bangalore secured plot C-80 at a 12.34% premium. The plots, located in BKC's G Block, will be leased for 80 years.
Advertisement
08 Apr 2025
Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired a 48,491 sq ft plot along with a 257 sq m structure in South Mumbai's Carmichael Road area, Malabar Hill, for INR 170 crore, according to property registration records accessed by CRE Matrix. The seller, Behram Nowrosji Gamadia, transferred ownership of this pre-independence legacy asset on 27 March 2025. Stamp duty of INR 10.46 crore and a registration fee of INR 30,000 were paid. This rare transaction follows another high-profile sale last month, in which the Laxmi Nivas bungalow on Nepean Sea Road was sold for INR 276 crore to a firm linked to the Reliance Group.
07 Apr 2025
Residential sales across India touched 88,274 units in Q1 2025, marking a 2% year-on-year rise, with the premium housing segment (priced above INR 1 crore) accounting for 46% of total sales.Pune and Chennai posted 20% and 10% annual sales growth, respectively, while Mumbai retained its top spot as the country's largest housing market. The ultra-luxury category (above INR 5 crore) surged 483% year-on-year. Simultaneously, new launches reached 96,309 units, continuing to outpace sales for the tenth straight quarter. Mumbai and Bengaluru contributed 44% of all new launches. NCR led premium sales (INR 2 crore+), while Bengaluru had the highest launch growth at 26% YoY.
07 Apr 2025
Chennai-based land aggregator and real estate firm G Square Realtors Pvt Ltd aims to double its revenue to INR 5,000 crore in the current financial year. The company is expanding across Tamil Nadu, Karnataka, and Hyderabad, including tier-2 towns. Established in 2012, G Square initially catered to corporate clients before entering the B2C market in 2021. The company has acquired over 4,000 acres and served more than 15,000 customers. It recently launched 'Aranya,' a premium residential project in Porur, Chennai, with plots priced between INR 4,290 and INR 6,000 per sq ft. The firm is also planning an IPO by 2028.
07 Apr 2025
Mumbai-based real estate developer Runwal Enterprises Limited has filed its draft red herring prospectus (DRHP) with SEBI to raise INR 1,000 crore through an initial public offering (IPO). The offering consists entirely of a fresh issue with a face value of INR 2 per share, without an offer-for-sale component. A pre-IPO placement of up to INR 200 crore may be considered, reducing the fresh issue size. Proceeds will be allocated for debt repayment, subsidiary investments, future real estate acquisitions, and corporate expenses. Runwal Enterprises, ranking second in Mumbai's real estate market for new launches and sales, reported a 188.55% revenue increase in FY24, turning profitable with INR 107.28 crore. ICICI Securities and Jefferies India are managing the IPO, with shares to be listed on BSE and NSE.
07 Apr 2025
India's office market recorded an all-time high of 28.2 million square feet in transactions during Q1 2025, reflecting a 74% year-on-year surge, according to Knight Frank. Global capability centres (GCCs) were the dominant occupiers, accounting for 44% of total space, with Bengaluru leading at 65% of all GCC transactions. The third-party IT services sector contributed 19%, benefiting from a resurgence in demand. Experts noted India's cost advantage and talent access as key drivers. With office space demand remaining strong, the market is projected to expand by 5-6% in 2025, reaching 75-78 million square feet.
Advertisement
