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28 Mar 2025
CBRE's report, Decarbonising Asia Pacific's Office Buildings, reveals that 51% of the region's office space now holds green building certification-a 6.5% increase year-on-year. This shift highlights growing commitment among landlords and occupiers to reduce carbon emissions and enhance property value. Ada Choi, CBRE's Head of Research for Asia Pacific, noted that while some occupiers delay net-zero goals due to business expansion and AI-related energy demand, many are strengthening commitments by formally setting targets. Cities like Sydney, Melbourne, Singapore, and Tokyo lead in green adoption, while India and China are making steady progress. Green-certified buildings command rental premiums of up to 4%, with the highest premiums seen in Mumbai, Hong Kong SAR, and Bangalore.Read more
28 Mar 2025
DLF has acquired nearly 50% of its subsidiary, DLF Urban Private Limited, from Singapore's Reco Greens for INR 497 crore, securing full ownership. Reco Greens, affiliated with Singapore's sovereign wealth fund GIC, previously held a minority stake in DLF Urban, which has developed the luxury residential project One Midtown in New Delhi. The acquisition was formalised through a securities purchase agreement on March 25. With this transaction, DLF Urban is now a wholly owned subsidiary of DLF Home Developers and DLF Limited. Separately, DLF has outlined plans to invest INR 40,000 crore in completing ongoing housing projects and expanding its commercial real estate portfolio.
28 Mar 2025
India's office market saw record leasing activity in 2024, with the BFSI sector playing a pivotal role in driving demand, according to JLL. Companies expanded their presence by acquiring office spaces for bank branches, back offices, and financial operations. Global Capability Centres (GCCs) also contributed significantly, with BFSI's share in GCC leasing rising to 25.2% in 2024, making it the second-largest segment after technology. Key cities have emerged as specialized BFSI hubs, with Mumbai maintaining its dominance, Delhi NCR leveraging its strategic location, and Bengaluru attracting fintech players. Hyderabad, Chennai, and Pune are also witnessing significant growth, supported by their respective industry ecosystems. India's fintech market, projected to reach ~USD 1.5 trillion by 2025, is reinforcing the BFSI sector's growing presence in the commercial real estate landscape.
28 Mar 2025
Bollywood actor Akshay Kumar has sold two apartments in Oberoi Sky City, Borivali East, for INR 6.60 crore. The transactions, recorded on March 20, 2025, involved a 1,080 sq. ft. unit bought for INR 2.82 crore and sold for INR 5.35 crore, along with a 252 sq. ft. apartment acquired for INR 67.19 lakh and sold for INR 1.25 crore. This is his third sale in the project this year, following two earlier transactions in January and March. Oberoi Sky City, a ready-to-move-in development, has witnessed significant market activity, with 208 sale registrations worth INR 818 crore in the past year.
28 Mar 2025
The Rajasthan government has successfully constructed 20 lakh houses under the Pradhan Mantri Awas Yojana (PMAY), enhancing affordable housing for economically weaker sections. Agriculture Minister Shri Kirori Lal Meena highlighted the scheme's transparency, direct fund transfers, and geo-tagging for progress monitoring. Rajasthan joins Madhya Pradesh and Uttar Pradesh in achieving major housing milestones. Despite challenges in land documentation and funding delays, the state is resolving issues to accelerate construction. The initiative has also generated rural employment, supporting local economies. The government aims to expand PMAY coverage, ensuring "Housing for All" while integrating it with other welfare programs.
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28 Mar 2025
Hermes Distillery has purchased 10 residential units in Prestige Ocean Tower, Marine Lines, Mumbai, for INR 199.35 crore. The total built-up area of the apartments is 25,650 sq ft, with each unit offering a carpet area of 2,482 sq ft and a built-up area of 2,565 sq ft. The deal, registered in January 2025, reflects a per-unit price between INR 19.39 crore and INR 20.54 crore. Each apartment has three parking spaces, for a total of thirty parking spaces, and the total stamp duty paid is INR 11.96 crore. Prestige Ocean Tower, developed by Prestige Projects, is located on a 2.3-acre site and features 2 and 3 BHK residences.
27 Mar 2025
Cricketer Suryakumar Yadav and his wife, Devisha Yadav, have acquired two luxury apartments in Deonar, Mumbai for INR 21.1 crore. The units, located in Godrej Sky Terraces, span a combined carpet area of approximately 4,222.7 sq. ft. and come with six designated parking spaces. The transaction, registered on March 21, incurred a stamp duty of INR 1.26 crore and a registration fee of INR 30,000. The project, covering 1.05 acres, has recorded 25 sales worth INR 202 crore in the past year, with an average price of INR 52,433 per sq. ft. Deonar offers strong connectivity via the Chembur railway station, Mumbai Monorail, and key expressways. Meanwhile, other notable real estate transactions in Mumbai include Zaheer Khan's INR 11 crore apartment purchase in Elphinstone Road and Rohit Sharma's Lower Parel property rental for INR 2.6 lakh per month.
27 Mar 2025
Bollywood actress Huma Qureshi and her brother Saqib Saleem have leased a 3,370 sq ft luxury villa in Equest Condominium on Juhu Tara Road, Mumbai, for a monthly rent of INR 10 lakh, according to property registration documents. The villa, owned by Impact Films Pvt Ltd, includes an additional 2,654 sq ft basement, four car parking slots, a swimming pool, and a garden. The rental agreement, registered on February 25, 2025, is for 60 months with a 48-month lock-in period, a security deposit of INR 30 lakh, and a 10% rent escalation after 36 months. Juhu remains a Bollywood hotspot, home to several film stars and recent high-value property deals.
27 Mar 2025
DLF Ltd plans to invest approximately INR 20,000 crore in the medium term to expand its commercial portfolio, including office and retail spaces. The company aims to grow its annuity business, which currently holds around 44 million sq ft of rental assets with a 93% occupancy rate, targeting 73 million sq ft over the coming years. The investment will be spread across DLF and joint ventures such as DLF Cyber City Developers Ltd (DCCDL), where DLF holds a 67% stake. Additionally, DLF's rental arm DOCDL has begun constructing 5.5 million sq ft of premium office space at DLF Downtown, Gurugram, and a 20 lakh sq ft DLF Mall of India in Gurugram, as part of an INR 6,000 crore investment.
27 Mar 2025
Brigade Group, a prominent real estate developer in India, has acquired a 4.4-acre land parcel in Whitefield, East Bengaluru, to launch a premium residential project with a Gross Development Value (GDV) of approximately INR 950 crore. The upcoming development will offer around 0.6 million square feet of residential space, featuring modern amenities and luxury specifications. The project aims to capitalize on Whitefield's excellent connectivity and vibrant social infrastructure, reinforcing Brigade Group's position in Bengaluru's upscale housing segment.
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