17 Mar 2025

India's construction industry saw a moderate 2-4% cost increase in 2024, down from 6-8% hikes in 2021-22, due to stabilized inflation and improved supply chains, according to CBRE's 2024-25 Construction Cost Trends report. Cement, steel, and aluminum prices dropped, but labor costs rose by 5% due to shortages, keeping overall expenses high. Mumbai led fit-out cost increases (4-6%), while Delhi-NCR, Bengaluru, and Pune saw 3-4% hikes due to luxury residential and commercial projects. Sustainability and energy-efficient construction are shaping future trends, with Tier-2 cities also adopting green building practices, influencing long-term market stability and investment value.Read more

17 Mar 2025

Bollywood actor Kajol Devgan has purchased a 4,365 sq. ft. commercial retail space in Goregaon, Mumbai, for INR 28.78 crore, paying INR 65,940 per sq. ft. with INR 1.72 crore stamp duty and four car parking spaces. This reflects the growing trend of celebrities investing in commercial real estate for rental income and capital appreciation. Kajol previously bought an office space in Andheri for INR 7.64 crore, while Ajay Devgan acquired five office units (INR 45 crore) and a Juhu bungalow (INR 60 crore). Mumbai's commercial real estate in suburban hubs like Goregaon and Andheri are attracting high-profile investors due to rising business demand.Read more

17 Mar 2025

HDFC Bank has repurchased nearly INR 7,000 crore worth of its high-cost bonds in the secondary market over the past six months to improve its credit-deposit (CD) ratio, which surged to 110% following its merger with HDFC in July 2023. The move was driven by the Reserve Bank of India's directive and the bank's inability to classify these bonds as infrastructure bonds, which would have reduced its funding costs. With some bonds carrying high interest rates, replacing them with lower-cost deposits is expected to strengthen the bank's net interest margin. More such buybacks are anticipated in the coming weeks.Read more

17 Mar 2025

The Navi Mumbai Municipal Corporation (NMMC) has launched a newly updated online property tax collection system, aimed at simplifying the payment process for residents. Municipal Commissioner Dr Kailash Shinde introduced this modernised system earlier this week, integrating advanced technologies such as net banking, UPI, QR codes, and digital wallets. As a result, online tax payments have reportedly increased by nearly 15%. Additionally, the Bharat Bill Payment System (BBPS) is set to be implemented within the next 2 weeks, offering residents 24x7 access to make secure payments through major banks and digital platforms. Furthermore, the Municipal Corporation has introduced the Abhay Yojana, granting a 50% concession on late payment penalties for arrears, encouraging citizens to settle outstanding dues by the end of March.Read more

17 Mar 2025

Bessemer Venture Partners (BVP) has launched its second India-focused fund worth $350 million, a 50% increase from its 2021 fund ($220 million). The firm will target early-stage startups in AI, fintech, SaaS, cybersecurity, digital health, and D2C brands. BVP has previously backed BigBasket, Swiggy, Urban Company, Pharmeasy, and Perfios, among others. With $18 billion in global assets, BVP aims to capitalize on India's expanding tech ecosystem. The firm's increased investment signals strong confidence in India's technology-driven future, potentially attracting more global investors to the region's startup landscape.Read more

17 Mar 2025

First-time investors are increasingly opting for plotted-developments due to their strong appreciation potential and long-term capital-growth. A Magicbricks survey of 2,200 homebuyers found that 58% preferred plots, with Bengaluru (36.5%), Chennai (11.0%), and Lucknow (8.9%) leading demand in Q4 2024. Mid-sized plots (1,000-2,000 sq. ft.) accounted for 46.76% of demand, while 50.83% of buyers sought plots under INR 50 lakh. Hyderabad's average plot-price was INR 2,765 per sq. ft., with Shadnagar and Kadthal as key-hubs. Gurugram and Noida remain premium-markets, but Greater Noida, at INR 7,654 per sq. ft., offers an affordable investment-opportunity.Read more

14 Mar 2025

Office space absorption across 11 major Asia-Pacific (APAC) markets grew 15.9% YoY to 94.7 million sq. ft. in 2024, led by India, Mainland China, and Japan, according to Colliers. India dominated the market with 66.4 million sq. ft. leased, with Bengaluru and Hyderabad driving over half of Grade A office demand. Global capability centres (GCCs) leased 15 million sq. ft., accounting for 40% of India's leasing. New supply in India rose 7% YoY, maintaining 17% vacancy levels. APAC's office sector is expected to see steady demand-supply dynamics in 2025, reinforcing India's position as a key hub for corporate expansions and outsourcing.Read more

14 Mar 2025

Earlier this week, the Brihanmumbai Municipal Corporation (BMC) initiated action against two developers-Sumer Build Corporation Private Limited and RR Developers-over outstanding property tax dues amounting to INR 18 crore and INR 3.62 crore, respectively. As part of its ongoing crackdown on defaulters, the civic body has seized and attached their properties for failing to settle their dues within the stipulated period of 21 days. According to a BMC release, the property tax assessment and collection department has begun proceedings to seize and auction these assets. Sumer Build Corporation owns a plot in Mazgaon, while RR Developers has a plot situated in Gavanpada village, Mulund.Read more

14 Mar 2025

The Municipal Corporation of Ludhiana (MCL) sealed three unauthorized shops in Model Town Extension (Block B) as part of its intensified crackdown on illegal constructions. Inspections in Raghunath Enclave found no violations, with the project adhering to urban planning norms. MCL Commissioner Aaditya Dachalwal warned of strict actions against non-compliant builders, aligning with similar enforcement drives in Chandigarh, Amritsar, and Delhi. With rapid urbanization, Punjab's municipal bodies are strengthening regulations, following Delhi Development Authority's (DDA) model of demolitions and fines to curb unauthorized construction and encroachments.Read more

14 Mar 2025

Nashik's housing market grew by 22% in 2024, with 8,583 apartment sales, while new supply dropped by 30%, reducing unsold inventory by 15%. Despite strong demand, prices remained stable between INR 3,134-INR 15,833 per sq. ft., making Nashik an attractive alternative to Mumbai's high real estate costs. Improved infrastructure, industrial growth, and enhanced connectivity have boosted investment interest. The city's wine industry, tourism, and manufacturing sectors further drive demand for both residential and commercial spaces. With major developers expanding in the region and Nashik's strategic location near Mumbai, the city is emerging as a key real estate investment destination.Read more