04 Feb 2025

In 2024, NCR achieved a record 12.7 mn sq-ft of office-leasing, with the average deal-size rising 29% YoY to 40,025 sq-ft. Gurugram remained dominant, leasing 7.65 mn sq-ft, driven by DLF Cyber City and Udyog Vihar, while Noida saw a 48% rise, leasing 3.92 mn sq-ft, boosted by sectors like 62 and Greater Noida Expressway. India-facing businesses led demand, constituting 44%, followed by flex spaces at 29%. Average rents increased by 3% to INR 88/sq ft/month, with CBD Delhi being the priciest. The hybrid work model and demand for quality spaces spurred leasing growth.Read more

04 Feb 2025

NAREDCO Maharashtra has formed a strategic alliance with the International Finance Corporation (IFC) EDGE team, facilitated by the NextGen team. This collaboration aims to unlock global financing opportunities while promoting sustainable real estate practices. The agreement was formalised with the signing of a Letter of Collaboration by key representatives from IFC and NAREDCO Maharashtra. Through this partnership, the IFC EDGE team will offer technical guidance on green building standards, while NAREDCO Maharashtra will advocate for their inclusion in local incentive programs. This initiative seeks to empower real estate stakeholders, fostering the adoption of sustainable practices to establish Maharashtra as a frontrunner in green development.Read more

03 Feb 2025

The average flat sizes across seven major Indian cities increased by 8% annually in 2024, reaching 1,540 sq ft compared to 1,420 sq ft in 2023, as per Anarock's report. Over a six-year period, flat sizes rose by 34%, with notable growth in NCR (29%) and Bengaluru (30%). Hyderabad saw a decline in average flat sizes. Luxury housing supply in NCR surged, reducing affordable housing's share. Cities like Pune, Kolkata, and Chennai also recorded steady increases, reflecting changing consumer preferences for larger homes.Read more

03 Feb 2025

The Alluri Sitharama Raju (ASR) district is advancing its tribal housing project under the PM Jan Man scheme, with 23,766 out of 25,578 houses sanctioned and 226 already completed. The project, set for completion by March 2026, aims to uplift Particularly Vulnerable Tribal Groups (PVTG). Additionally, 576 roads and 1,660 water supply connections are planned under Jal Jeevan Mission, with 257 villages equipped so far. New Anganwadi centres and multi-purpose community hubs are also being established to improve access to education, healthcare, and essential services for tribal communities in the region.Read more

03 Feb 2025

The Odisha government has launched a survey to provide permanent housing under PMAY-G, aiming to include over 50,963 pending applicants and new beneficiaries. The initiative, inaugurated by Minister Rabi Narayan Naik in Puri district, will run for two months. Eligibility criteria have been relaxed, allowing families with incomes up to INR 15,000 and assets like two-wheelers or refrigerators to qualify. Fees have been waived, encouraging participation. Part of a national scheme targeting two crore houses by 2029, Odisha has already approved 28.25 lakh homes, with 23 lakh completed. Damaged homes will also receive support under the Antyodaya Gruha Yojana.Read more

31 Jan 2025

The Odisha government is set to launch a survey for identifying beneficiaries under the PM Awas Yojana-Rural (PMAY-R) initiative. The survey, expected to conclude in two months, will ensure a comprehensive and discrimination-free list of eligible households. The eligibility criteria have been relaxed, enabling families earning up to INR 15,000 per month and those owning two-wheelers or refrigerators to apply. Additionally, households affected by natural disasters or mishaps will be included under the Antyodaya Gruha Yojana if missed during the PMAY survey. A portal will facilitate online and offline applications for the scheme.Read more

31 Jan 2025

Authorities from Kochi Corporation recently announced that the construction of flats under the Pradhan Mantri Awas Yojana (PMAY) for rehabilitating residents from Kalvathy, Koncheri, and Thuruthi Colony has been completed. The project benefits 394 landless and homeless families. Two flat complexes have been built in Thuruthy-one by the municipal corporation and the other by Cochin Smart Mission Ltd. These complexes include residential units, parking, daycare centres, shop spaces, and other amenities. Inauguration is expected in March following the completion of sewage treatment plants.Read more

31 Jan 2025

The 'India Market Monitor Q4 2024' report by CBRE highlights Hyderabad's growing influence in India's residential real estate sector, contributing significantly to the 63% of new unit launches driven by Mumbai, Pune, and Hyderabad. The city accounted for 13% of Q4 launches, reflecting a 10% quarter-on-quarter increase. Hyderabad's housing market witnessed robust growth across all segments, with rising demand for properties priced above INR 2 crore, fueled by its thriving IT economy, improved infrastructure, and progressive policies. Mid-end housing made up 40% of total sales, while luxury housing gained a 9% share in Q4. Industry leaders, including Anshuman Magazine of CBRE and Shishir Baijal of Knight Frank India, attribute Hyderabad's continued success to strong market fundamentals and increasing buyer interest in premium offerings. Looking ahead, Hyderabad is set to maintain its momentum as a key real estate hub in 2025 and beyond.Read more

31 Jan 2025

Raheja Developers has been scrutinised for not depositing INR 77.28 lakh for the second phase of the structural safety audit for its housing projects, Raheja Vedanta and Raheja Atharva, in Gurugram. Despite multiple reminders, the company has failed to comply with payment instructions. The district authorities, led by Deputy Commissioner Ajay Kumar, have recommended stringent actions, including halting the approval of future permissions for the developer until the payments are made. The safety audits, initiated due to concerns raised by residents, remain incomplete, leaving residents in both societies anxious about their buildings' safety.Read more

30 Jan 2025

As of December 2024, Uttar Pradesh has successfully completed 95% of the 17,76,823 houses sanctioned under the Pradhan Mantri Awas Yojana (Urban), with 16,71,083 houses already finished. Urban Development Minister AK Sharma emphasised the transparency and dedication behind the project, highlighting the positive impact on the lives of low-income families. The initiative has not only provided affordable homes but also empowered women and promoted economic equality. Despite challenges at the beginning, significant progress has been made under the leadership of Chief Minister Yogi Adityanath, and the government remains committed to completing the remaining 5% of the project soon.Read more