14 Jun 2024

The rise of fractional ownership and Small and Medium Real Estate Investment Trusts (SM REITs) is transforming real estate investment in India. Fractional ownership allows multiple investors to co-own high-value properties, making real estate accessible to more people. The JLL-Property Share report predicts this market will grow tenfold to INR 37,500 crore by 2030. SM REITs, similar to mutual funds, enable investment in income-generating real estate with a minimum investment of INR 10 lakh. SEBI's new regulations for SM REITs boost investor confidence, focusing on cities like Mumbai, Delhi NCR, and Bengaluru. These regions offer substantial investment opportunities, driven by well-managed commercial properties. SM REITs provide lower investment thresholds, potential for stable returns, professional management, and enhanced liquidity through stock exchange listings. This sector is poised for significant growth, driven by urbanization and rising property prices.Read more

14 Jun 2024

CapitaLand India Trust (CLINT), specializing in business parks across India, has secured a USD 200 million (approximately INR 1,160 crore) sustainability-linked loan (SLL) from the International Finance Corporation (IFC). This landmark deal positions CLINT as a leader in integrating environmental responsibility into its core business strategy. The SLL terms are tied to achieving specific environmental targets, including a 40.5% reduction in greenhouse gas emissions by 2023 and obtaining EDGE certification for three IT parks by 2026. This green loan enhances CLINT's sustainability profile, attracts eco-conscious investors, and reduces long-term operational costs.Read more

13 Jun 2024

Bengaluru-based Adarsh Developers has sold a 41-acre land parcel to Singaporean private equity firm Mapletree for over INR 1,900 crore, a significant move aimed at reducing debt and fostering growth. This sale, with a development potential of 7 million square feet, will help Adarsh reduce its net debt to INR 2,300 crore by the end of the financial year. Despite the sale, Adarsh remains committed to residential development, focusing on both luxury and mid-income segments. The company recently secured over INR 1,600 crore from HDFC Capital Advisors for ongoing projects and plans to invest INR 7,000 crore over the next seven years in various residential developments, including apartments, self-build plots, and luxury villas. This strategy underscores a broader trend of strategic debt management and institutional partnerships in the Indian real estate market, positioning Adarsh Developers for sustainable growth.Read more

13 Jun 2024

Khar West is an affluent neighborhood in Mumbai known for its upscale residential properties, tree-lined avenues, and well-maintained gardens. It offers excellent connectivity to major business districts and features a vibrant social infrastructure with top educational institutions, healthcare facilities, and a bustling shopping and dining scene. In April, Flamingo Apartment led the real estate market with the highest number of deals, predominantly driven by resale transactions. Property prices in Khar West vary widely, catering to both luxury and budget-conscious buyers, with the majority of sales within the INR 5 crore range. The neighborhood's diverse housing options, strong community feel, and urban amenities make it a prime residential choice and a robust real estate investment destination.Read more

13 Jun 2024

Bosch Global Software Technologies has leased 691,320 square feet in Bengaluru's Electronic City, housing around 8,000 employees. This expansion, dedicated to Robert Bosch's Knowledge Process Outsourcing (KPO) operations, underscores Bosch's commitment to India's tech and engineering talent. The five-year lease, with a renewal option, reflects Bosch's long-term vision. Bengaluru's office space market saw a 40% year-on-year leasing increase in Q1 2024, driven by tech and engineering sectors. Other tech giants like Walmart, Samsung, Uber, and Google are also expanding in Bengaluru, solidifying the city's status as a global tech hub. Bosch's new facility reinforces its significant role in India's innovation ecosystem.Read more

12 Jun 2024

Real estate developer Dvok Buildcon has purchased an 18-acre plot in Manesar, Gurugram for INR 310 crore. The land was previously agricultural land. A stamp duty of INR 21.72 crore was paid for the transaction. This deal is part of Dvok's plan to enhance its portfolio and leverage growth in Gurugram driven by urbanization. The company will develop high-quality sustainable projects on this site in line with its commitments. Despite ongoing residential demand, developers continue acquiring commercial, retail and industrial land across major cities in India. Dvok Buildcon's expansion in the Gurugram market underscores its aim to benefit from the region's strategic location and infrastructure.Read more

12 Jun 2024

Google has leased 649,000 square feet of office space at Alembic City in Whitefield, Bengaluru, at a monthly rent of INR 762 per square foot for a three-year lock-in period. This move aligns with Google's strategy to expand its footprint in India, adding to its recent leases in Hyderabad (600,000 sq. ft.) and Bengaluru (1.3 million sq. ft.). The combined leases amount to 3.5 million sq. ft. since 2020, bringing Google's total Indian office space to over 9.3 million sq. ft. Additionally, Google plans to start manufacturing Pixel smartphones in India, reflecting its significant investment in the country's tech sector.Read more

12 Jun 2024

In a landmark decision right after taking office for his third consecutive term, Prime Minister Narendra Modi's Union Cabinet approved assistance for constructing three crore rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY). This initiative aligns with the government's 'Housing for All' mission. Prashant Sharma, President of NAREDCO Maharashtra, and Pritam Chivukula, Vice President of CREDAI-MCHI, praised the decision, highlighting its potential to improve living standards, boost the real estate sector, and create substantial employment opportunities. Since its inception in 2015-16, PMAY has facilitated the completion of over 4.21 crore houses, demonstrating the government's commitment to housing infrastructure and economic growth.Read more

11 Jun 2024

Lenskart founder Peyush Bansal, along with members of the Dhanuka Agritech family, have purchased luxury apartments in DLF's super-luxury project 'The Camellias' in Gurugram, totaling INR 106.4 crore. Registered in April 2024, these transactions occurred between 2015 and 2022. Bansal acquired a 7,461 sq. ft apartment for INR 27.02 crore. Ram Gopal Agarwal, Rahul Dhanuka, and Harsh Dhanuka bought units for INR 22.55 crore, INR 24.31 crore, and INR 32.52 crore, respectively. These high-profile sales reflect the robust demand for ultra-luxury homes in the region.Read more

11 Jun 2024

Maharashtra Real Estate Regulatory Authority (MahaRERA) has halted registrations for 1,750 housing projects due to lapses, ensuring buyer protection and maintaining industry credibility. Another 1,137 projects face suspension, reflecting MahaRERA's robust regulatory oversight. Mumbai Metropolitan Region leads with 761 affected projects, followed by Pune with 628. Regional breakdowns include Konkan (761), Pune (628), North Maharashtra (135), Vidarbha (110), Marathwada (100), Dadra Nagar Haveli (13), and Daman (3). MahaRERA urges caution and provides a project list for transparency. Developers failing to comply face consequences, with 3,751 projects responding positively to MahaRERA's notices. Chairman Ajoy Mehta underscores MahaRERA's commitment to buyer protection, emphasizing transparency and accountability in the real estate sector.Read more