12 Jul 2024

The Noida International Film City, backed by a INR 15,000 crore investment, promises to revolutionise Indian cinema. Led by Boney Kapoor's Bayview Projects, the 1,000-acre project near Noida Airport aims to create a comprehensive film ecosystem. It includes state-of-the-art studios, a film institute, advanced post-production facilities, and hospitality options. Emphasising sustainability with solar-powered studios, the project also aims to boost local economy through job creation across film production, hospitality, and tourism sectors. Expected to enhance cultural appeal and attract global filmmakers, the film city's development may spur broader infrastructure improvements, positioning it as a pivotal hub for the future of Bollywood and global cinema.Read more

12 Jul 2024

Apple is making a massive play for the Indian market by leasing a 400,000 sq. ft. office tower in Bengaluru, setting a new rental record of over INR 220 per sq. ft. per month. This annual lease, exceeding INR 1,000 crore, signifies Apple's long-term commitment to India. This expansion aligns with Apple's plan to produce 25% of all iPhones in India within a few years, potentially involving $10 billion in investments. With additional offices in Mumbai, Hyderabad, and Gurugram, and new retail stores, Apple aims to solidify its operational and manufacturing presence in India.Read more

11 Jul 2024

Puravankara Limited plans to raise up to INR 1,000 crore through a Qualified Institutional Placement (QIP), aligning with a growing trend among Indian real estate developers. This capital will support new projects, expand operations, and bolster their financial position, including recent land acquisitions in Thane and Goa. The QIP trend has seen notable successes in 2024, with Macrotech Developers raising INR 3,281 crore and Union Bank securing INR 5,000 crore. QIPs offer rapid access to capital, reduced compliance burdens, and attract institutional investors, enhancing developer credibility and financial health. This positive trend indicates strong investor confidence and a robust outlook for the real estate sector.Read more

11 Jul 2024

Unity Small Finance Bank, backed by Centrum Financial Services and BharatPe, has secured 168,000 square feet across prime Mumbai locations for INR 393 crore. This includes a landmark INR 227 crore deal for over 70,000 square feet in Santacruz East's Unity Towers, slated as the bank's headquarters. Additionally, the bank invested INR 165.60 crore in 97,920 square feet across 20 units in Navi Mumbai's Seawoods. These acquisitions underscore Unity's commitment to expanding its footprint strategically amidst Mumbai's burgeoning office space market, positioning itself for sustained growth and leadership in India's financial sector.Read more

11 Jul 2024

Ravet, a developing suburb on the outskirts of Pune, has gained significant popularity due to its location and affordable housing options. This emerging locality offers a mix of high-rise apartments and gated communities, attracting a diverse population. Proximity to the Pune-Mumbai Expressway and the Hinjewadi IT Park makes it appealing to working professionals. In June, Om Yashodham led real estate activity with five deals, followed by Sonigara Presidency. Apartment sizes in Ravet range from 336 to 698 square feet, with prices averaging around INR 8,258 per square foot. The area continues to grow, balancing urban conveniences with a peaceful environment, making it a sought-after destination for homebuyers and investors.Read more

10 Jul 2024

Bollywood star Aamir Khan has expanded his Mumbai real estate portfolio with a new INR 9.75 crore apartment in Bella Vista Apartments, Pali Hill. This acquisition adds to his existing holdings in the area, reflecting his strategic investment in prime residential properties slated for redevelopment. Khan's proactive approach aligns with ongoing urban rejuvenation initiatives in Pali Hill, where significant redevelopment projects are underway. His investments not only underscore confidence in Mumbai's property market but also position him as a key player in shaping the city's luxury real estate landscape, contributing to its evolving skyline and prestige.Read more

10 Jul 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) has reissued six infrastructure tenders aimed at improving Thane's connectivity. These projects, valued between INR 2.25 crore and INR 12.98 crore, include coastal roads, creek bridges, and elevated corridors. Originally announced pre-2024 Lok Sabha elections, the tenders were cancelled due to technical issues on the National Informatics Centre portal and have now been reissued with modifications. Key changes include reducing the defect liability period from five to two years. Construction periods range from 30 to 48 months, including time for approvals and accounting for monsoons. The bid submission deadline is July 12, with a pre-bid meeting scheduled at MMRDA's BKC office.Read more

10 Jul 2024

While heavy rains have disrupted local train services and flooded roads across Mumbai, the Metro has emerged as a dependable travel option for commuters. Mumbai Metro Lines 2A and 7 have maintained impressive punctuality and increased capacity to meet the monsoon season's demands. Unlike local trains and roads, which often face disruptions due to heavy rains, the Metro operates seamlessly. Its elevated infrastructure protects it from flooding, ensuring uninterrupted service even during the wettest months. This reliability makes the Metro a preferred choice for Mumbaikars seeking a safe and secure travel experience during the monsoon. The Metro's popularity is evident in its high ridership, with over 141,949 passengers on July 8th, 2024, facilitated by 282 services.Read more

09 Jul 2024

Bollywood legend Amitabh Bachchan has expanded his Mumbai real estate holdings with the acquisition of three office units totaling 8,429 square feet in the Veer Savarkar Signature building, Andheri West. The transaction, completed for approximately INR 60 crore, includes three dedicated parking slots and was finalised on June 20, 2024, with an additional stamp duty of INR 3.57 crore. Bachchan's strategic investment underscores ongoing high-value trends in Mumbai's commercial real estate sector, where celebrities and institutional investors alike continue to drive significant transactions, contributing to the city's economic dynamism and real estate market growth.Read more

09 Jul 2024

Maharashtra's Real Estate Regulatory Authority (MahaRERA) has levied penalties on 628 housing projects for non-display of mandatory registration numbers and QR codes in advertisements. This enforcement underscores MahaRERA's commitment to transparency and consumer protection in the real estate sector. Penalties totaling INR 88.90 lakh were imposed, with significant recoveries already made. The Mumbai region saw the highest violations, followed by Pune and Nagpur. MahaRERA urges homebuyers to avoid transactions with unregistered projects, emphasizing the importance of regulatory compliance and informed investment decisions in safeguarding investments and ensuring trust in the real estate market.Read more