03 Aug 2023

Indiabulls Housing Finance's founder, Sameer Gehlaut, has dramatically reduced his stake to just 2%, down from 21% in December 2021. This move aligns with the company's transformation towards institutionalization, with foreign institutional investors set to hold nearly 60% by the fiscal year's end. In addition to the stake reduction, Indiabulls plans to adopt a new name later this year. Gehlaut's complete exit is planned for September, paving the way for majority ownership by global funds such as Blackstone, ADIA, Vanguard, PIMCO, and BlackRock.Read more

03 Aug 2023

Brookfield India Real Estate Trust has successfully raised Rs 1,500 crore through a Qualified Institutional Placement (QIP). The funds will be utilized to finance ongoing and upcoming real estate projects, expanding the company's presence in the dynamic Indian real estate market. The QIP's success reflects investors' confidence in the trust's financial health and potential for returns. As the real estate sector continues to grow and the economy shows signs of revival, the trust is well-positioned to leverage this positive momentum and create value for its stakeholders.Read more

02 Aug 2023

Goldman Sachs, a global investment firm, has shortlisted prominent players like Brookfield Asset Management, Alta Capital, and Keppel Corp as potential suitors for its stake in India's largest student accommodation platform, Good Host Spaces. Discussions are progressing, with the transaction valuing the company at $350 million. The appeal of India's real estate landscape for international investors is evident, and the student accommodation sector presents lucrative opportunities. Good Host Spaces collaborates with universities to provide tailored housing services, and with the demand for student accommodation on the rise, the sector is poised for substantial expansion in India.Read more

02 Aug 2023

Rajasthan's real estate landscape undergoes a transformative shift as the RERA increases registration fees for plotted and commercial schemes. The authority has introduced a standard fee of Rs 10 per square metre, fostering transparency and accountability. This change extends to government agencies as well, encouraging compliance among developers. The move aims to address rising complaints within RERA's jurisdiction and tackle unauthorized colonies. As part of the broader vision, RERA strengthens its regulatory control with a new office at the divisional level. These proactive measures seek to create a resilient and compliant real estate ecosystem in Rajasthan.Read more

01 Aug 2023

IndoSpace, renowned for its Grade A industrial real estate, has sealed a significant lease agreement with Kerry Indev Logistics Pvt. Ltd. The 3 lakh sq. ft. warehousing space, situated in Sri City, will exclusively support Mitsubishi Electric India's air conditioning operations. Kerry Indev Logistics, a leading 3PL services provider with a global presence, is headquartered in Chennai. The strategic location and world-class infrastructure of Sri City make it an ideal industrial ecosystem. IndoSpace boasts the largest national network of industrial and logistics facilities across India.Read more

01 Aug 2023

Colliers, a diverse real estate firm, boldly expands in Pune, India. Opting for a larger office space in Kalyani Nagar, it aims to double its employee strength and strengthen client relationships. Pune's potential as a real estate hub drives the strategic move, complementing Colliers' expansion in other cities. The modern workplace fosters collaboration and prioritizes employee well-being. With a clear vision and growth plan to hire 400 employees, Colliers is poised for success.Read more

01 Aug 2023

The Delhi High Court took a strict stance against the practice of levying service charges on food bills by hotels and restaurants. The court imposed fines on two associations for not complying with its directions to stop charging service fees. Despite the court's instructions and government guidelines against such charges, many hotels continued to levy service fees, leading to dissatisfaction among customers. The court has suggested changing the terminology to "Staff Welfare charges" to avoid misleading customers and emphasizes that the option to pay a small percentage for staff welfare should be left to the customers.Read more

01 Aug 2023

The Knight Frank Global Branded Residences Report 2023 reveals the thriving luxury real estate market, with 186 ongoing projects worldwide and an additional 32 new projects expected this year. Despite ongoing economic challenges, the sector is projected to grow by 55% by 2026. North America leads with nearly 40% of all projects, followed by Asia-Pacific and Europe. Leading brands include Ritz-Carlton and Four Seasons, while Aman and Six Senses show the most vigorous growth. The report highlights sustained demand for branded residences, driven by increased wealth and rebounding global sales of prime properties.Read more

31 Jul 2023

In a significant relief for the real estate sector, the Maharashtra state government has eliminated the stamp duty on permanent accommodations in redeveloped housing societies. The announcement, following a Bombay High Court ruling, concludes a legal dispute that has been ongoing since 2006. Housing society members under redevelopment will now pay only Rs 100 as stamp duty, while other charges will apply as per the conveyance. This landmark decision is expected to reduce costs and expedite redevelopment projects across the state.Read more

31 Jul 2023

Fidelity International expands its presence in India with a state-of-the-art office in Bengaluru, complementing its Gurugram and Mumbai offices. The strategic move aims to tap into a new talent pool while reinforcing its commitment to the country's dynamic business landscape. Situated in Manyata Embassy Business Park, the 25,000-square-foot office is designed for 700 to 800 professionals. The company is hiring diligently and plans to appoint a local head. India plays a vital role for Fidelity International, encompassing technology, operations, research, client service, cyber security, and shared services. This expansion promises a bright future of innovation and collaboration.Read more