02 May 2024

Fractional ownership platform hBits has acquired the 44,328 square foot campus in CyberCity Magarpatta, Pune. The agreement duration for Tenant 1 is 60 months and Tenant 2 is 108 months with a lock-in period of 36 months for both. Located in the prestigious Magarpatta City township, the campus will provide a INR 55 crore investment opportunity for investors and increase hBits' assets under management to INR 365 crores. The acquisition price and rental income of the asset offers a gross entry yield of 9% and expected internal rate of return of 15.15%. This expansion underscores Pune's attractiveness as a commercial real estate market.Read more

02 May 2024

Zeassetz, India's largest co-living rental investing platform, has partnered with real estate developer Bramhacorp to introduce a new co-living standard called "Isle of Life" in Hinjewadi Phase II, Pune. The project consists of 484 fully furnished studio apartments across two sizes priced from INR 22.9 lakhs. Each unit is designed to offer premium amenities and managed living. This expands Zeassetz's buy-to-rent portfolio and provides investors with a straightforward way to earn rental income through tenant management. Emphasizing affordability, convenience and easy rentals, the project is suitable for modern investors seeking high returns.Read more

02 May 2024

Chennai emerges as a top destination for offshore multinational companies (MNCs) establishing Global Capability Centers (GCCs), surpassing traditional leaders Bengaluru and Hyderabad. Lower commercial rental rates, ample Grade A office space, and robust city infrastructure make Chennai an attractive choice. Its strong manufacturing sector, particularly in electronics and automobiles, complements offshore businesses. Bengaluru faces challenges with a global IT slowdown and layoffs, impacting office space leasing. Chennai's GCC market expands beyond IT sectors, attracting diverse industries like banking and R&D. This trend reflects a broader regional shift, with India and other Asian countries emerging as key hubs for cost-effective offshoring solutions.Read more

02 May 2024

Macrotech Developers, renowned for its Lodha brand, reported a Q4 FY24 net profit decline of 10.61% to INR 667 crore, yet full-year FY24 profit tripled to INR 1,554 crore compared to FY23. They've raised pre-sales guidance by 20% to INR 17,500 crore for FY25, banking on strong demand, especially in the middle-income segment. With record pre-sales of INR 14,520 crore in FY24, they solidify their position among India's top real estate developers. Financially, they reduced net debt by over INR 4,000 crore in FY24, reaching a manageable INR 3,010 crore, and improved their net worth. Total income rose, with Q4 FY24 seeing a significant increase to INR 4,083.9 crore. Lodha plans to launch seven new projects in Mumbai and Pune, totaling 3.4 million square feet, and expand into Bengaluru after successful ventures.Read more

01 May 2024

Gurugram based Experion Developers is set to invest approximately INR 1,500 crores in developing a luxury housing project named 'Experion Elements' in Noida. The project, registered with the Real Estate Regulatory Authority (RERA), will feature around 320 housing units on a 4.7-acre site, with the first phase offering about 160 units for sale. The project, boasting a total developable area exceeding 10 lakh sq ft, will offer modern amenities including electric vehicle charging infrastructure, a clubhouse, fitness centre, swimming pool, and landscaped gardens. The investment will be covered through internal accruals and advance collections from customers.Read more

01 May 2024

The Guardians Real Estate Advisory celebrated a significant achievement on Gudi Padwa, generating a record-breaking INR 262 crore revenue through 181 real estate deals. Saurabh Phull, COO of The Guardians, attributed this milestone to the resilience of India's real estate market amid global economic challenges, exceeding INR 5,000 crore. Gudi Padwa's significance as a festival of new beginnings accentuated the success, as purchases made on this day are believed to bring good fortune. The Guardians' role in facilitating these transactions underscores their commitment to empowering homeownership aspirations and shaping the future of Indian real estate through innovation, customer satisfaction, and community engagement.Read more

01 May 2024

WeWork India, the leading flexible workspace provider in India, has announced plans to expand operations by signing lease agreements for two new buildings - HQ27 in Gurugram and Amanora Crest in Pune. HQ27 is located in Gurugram's MG Road market with over 96,000 sq ft across three floors and 1,480 desks. Amanora Crest is situated within Pune's largest mall complex, Amanora Mall, with over 87,000 sq ft and 1,700 desks. Scheduled to open in the next couple of months, both buildings offer strategically located, contemporary workspaces with amenities and will reinvent the workspace experience. WeWork India's continued expansion across cities exemplifies its reliability as a brand and is a reflection of its strong relationships with all stakeholders, including landlords, IPCs and members.Read more

30 Apr 2024

Sundream Group, a prominent Noida-based real estate developer, reveals plans for a substantial investment in its Anthurium Business Park. With an additional INR 250 crore earmarked for the project's second phase, the total investment now stands at approximately INR 522 crore. This move highlights Sundream's commitment to upscale commercial development. Located in Sector 73, Anthurium Business Park offers over 1,052,000 square feet of premium office space across two towers, equipped with cutting-edge AI technology. The expansion is poised to invigorate Noida's commercial landscape, attracting leading businesses and bolstering the local economy with new job opportunities and upscale retail options.Read more

30 Apr 2024

Oberoi Realty, a leading luxury real estate developer in India, witnessed a 53% decline in sales bookings to INR 4,007 crore in the 2023-24 financial year, compared to INR 8,572 crore in the previous year. The company sold 228 units worth INR 1,775 crore in Q4 2023-24 and 705 units worth INR 4,007 crore for the entire fiscal year. Despite the drop, attributed to a higher base effect, Oberoi Realty's performance remains notable, given its focus on the luxury and ultra-luxury residential segments, which often exhibit higher price points and longer sales cycles.Read more

30 Apr 2024

Assetz Property Group, a leading Bengaluru-based real estate developer, has teamed up with Inspira Builders to introduce their latest venture, "Melodies of Life." situated off Hosa Road, the 39-acre project offers 505 spacious plots ranging from 1500-3000 sq. ft. Targeted at startup and IT professionals, prices start at INR 1.71 crores, boasting upscale amenities like multipurpose courts, swimming pools, and lush greenery cultivated using the Miyawaki technique. With connectivity to major job centers and educational institutions, the project promises a well-rounded lifestyle.Read more