25 Feb 2025

The presence of Global Capability Centres (GCCs) of multinational corporations has been expanding in India's office space market over the past few years. According to ANAROCK Research, the top seven cities recorded over 141.43 million sq. ft. of gross leasing in 2023 and 2024, with GCCs contributing 52.88 million sq. ft., accounting for more than 37% of the total share. Bengaluru led the market with a 46% share, followed by Hyderabad with 19%. The increasing economic influence of India, infrastructural advancements, and government policies such as 'Make in India' have contributed to this surge in demand. Moreover, the growing focus of GCCs beyond the IT/ITeS and BFSI sectors into engineering and manufacturing is further driving market expansion.Read more

24 Feb 2025

Recent developments in Pune real estate news highlight a robust market as Mumbai-based Hiranandani Group signs a joint development agreement with Pune-based Krisala Developers for a 105-acre project in North Hinjewadi. The integrated township will feature residential, commercial, and retail segments, with an investment of INR 2,000 crore and expected revenue of INR 7,000 crore. Both companies hold equal stakes while RERA approvals are underway, boosting investor confidence. In addition, Phase 1 covers 30 acres with INR 500 crore investment. In related Mumbai real estate news, Mahindra Lifespace's redevelopment initiative further underscores the region's dynamic real estate momentum, driving change.Read more

24 Feb 2025

Godrej Properties Ltd., in collaboration with Tvasta Engineering, has launched India's first-ever 3D-printed G+1 villa at Godrej Eden Estate, Pune, marking a transformative breakthrough in construction. Completed in just four months using additive manufacturing, the project demonstrates the efficiency, precision, and sustainability of 3D printing in India. This innovative initiative sets new benchmarks in real estate investments in India by reducing construction time, material waste, and costs. By leveraging computer-modeled designs and eco-friendly materials, the villa paves the way for smarter, greener urban developments, positioning India alongside global leaders in revolutionary building technologies.Read more

21 Feb 2025

Homeowners of towers A, B, and C in Chintels Paradiso, Sector 109, Gurugram, are set to receive compensation options following a high-level meeting led by the deputy commissioner. The meeting upheld the findings of the Central Building Research Institute (CBRI), which deemed the towers structurally unsafe. Homebuyers can choose between a full refund at the market rate with additional compensation or the option for reconstruction with rent payments for alternate accommodation. The meeting also reiterated the continuation of rent payments as per previous orders.Read more

20 Feb 2025

India’s commercial real estate sector saw strong growth in 2024, with Global Capability Centres (GCCs) leasing 22.5 million square feet, accounting for 31% of total transactions. Bengaluru led with 9.33 million sq. ft., followed by Hyderabad (5.06 million sq. ft.) and Chennai. Large office spaces dominated, with 50 deals exceeding 100,000 sq. ft. Government support for GCCs and India’s skilled workforce continue to attract global firms. While Chennai saw a 48% drop in GCC leasing, it remains a key market. With stable rents and a strong ecosystem, India’s commercial real estate market is set for sustained expansion.Read more

20 Feb 2025

The Delhi Urban Shelter Improvement Board (DUSIB) has started the process of shortlisting firms to repair over 2,400 flats in northwest Delhi's Savda Ghevra. These flats, built nearly a decade ago under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), will be used to house slum dwellers currently living in various JJ bastis across the capital. The repairs, estimated to cost approximately INR 14.75 crore, will be completed in two phases, with the first 1,000 flats set to be ready within three months. The relocation initiative aligns with Delhi's broader urban development goals, including reducing overcrowding and improving access to essential services. The project is expected to contribute to long-term social and economic upliftment in these communities.Read more

20 Feb 2025

Tamil Nadu Chief Minister M.K. Stalin emphasized the state's commitment to sustainable housing and urban planning at the FAIRPRO 2025 real estate exhibition. He announced master plans for 136 cities, including Coimbatore, Madurai, and Tiruchirappalli, while the CMDA is working on Chennai's third master plan. With Tamil Nadu's urban population at nearly 48%, the state is streamlining building approvals through a single-window system, cutting approval time from 180 days to 64-90 days. Plans include nine satellite townships around Chennai, a INR 250 crore shoreline revitalization project, and improved transport hubs to support balanced urban growth.Read more

20 Feb 2025

Earlier this week, Finance Minister Nirmala Sitharaman handed over keys to homebuyers in the MMR, marking the completion of 50,000 homes under the SWAMIH Fund. Established in 2019, the fund aims to revive stalled residential projects and provide relief to distressed homebuyers. By the end of 2021, it had already committed to funding over 300 distressed projects in cities like Delhi, Noida, and Bengaluru. Managed by SBI Ventures Ltd. and sponsored by the Ministry of Finance, it has become India's largest social impact fund in the real estate sector, successfully contributing to economic growth and the housing market.Read more

19 Feb 2025

In 2024, flexible workspace operators recorded a significant 57.5% year-on-year (YoY) growth, with a total gross leasing volume (GLV) of 12.4 million sq ft, accounting for 14% of India's overall office leasing. Bengaluru emerged as the leader, leasing 3.4 million sq ft, followed by Mumbai, Delhi-NCR, Hyderabad, and Pune. Additionally, flexible workspace operators leased out 2.24 lakh seats, marking a 44% increase from the previous year, with Bengaluru again taking the largest share. The IT-BPM sector remained the top contributor to seat leasing, followed by engineering, manufacturing, and other sectors.Read more

19 Feb 2025

The MHADA Konkan Board has launched an online Housing Demand Survey to gauge public interest in upcoming affordable housing projects in Ambarnath. The survey, open until the end of February, aims to gather data on potential applicants to aid in project planning. MHADA plans to develop housing units at Kohij Khuntavali and Shivganga Nagar for the Economically Weaker Section (EWS) and Middle-Income Group (MIG). Citizens can participate online and access project site locations via QR codes. Public feedback will play a critical role in determining the projects' feasibility and implementation.Read more