14 May 2024

Godrej & Boyce owns 3,400 acres of land in Vikhroli, Mumbai valued at INR 80,000 crore. Godrej Construction and Godrej Properties have partnered to develop this land, with potential to generate over INR 3 trillion in residential property sales. The companies intend to continue the partnership even after the split in the Godrej group. They have already partnered on the Godrej Platinum and Godrej Vistas projects totalling over 1 million sq ft. Future plans could see development of 100 million sq ft of real estate on the land, which offers proximity to Mumbai and potential for sustainable, high-quality developments.Read more

14 May 2024

Max Estates Limited, the real estate arm of Max Group, has announced plans to develop an intergenerational housing project spread over 18.23 acres in Gurugram. The project will have a gross development value of over INR 9,000 crore and a developable area of 4 million square feet. It will be developed as an intergenerational community with senior living facilities operated by Antara Senior Living. This consolidation of over 30 acres in sector 36A will allow Max Estates to capitalize on infrastructure upgrades on Dwarka Expressway, a prime luxury residential market. The two projects in Gurugram together imply a combined GDV potential of over INR 13,000 crore from developing an area exceeding 6.4 million square feet.Read more

13 May 2024

Aadhar Housing Finance Ltd. is set to launch its IPO on May 8th, 2024, with a combined offering of INR 3,000 crore, comprising fresh shares and an offer for sale by promoter Blackstone. The IPO offers investors a chance to participate in the growth of affordable housing finance in India. With a focus on economically weaker and low-to-middle-income customers, Aadhar plans to utilize IPO proceeds to expand lending operations and improve financial inclusion. Despite the positive outlook, questions linger about responsible lending and technological advancements in serving their diverse customer base.Read more

13 May 2024

Nerul, situated in Maharashtra's Navi Mumbai region, has become a sought-after destination for homebuyers and businesses due to its well-planned infrastructure and excellent connectivity. Boasting a variety of housing options, including high-rise apartments and gated communities, Nerul caters to diverse preferences and budgets. The area is self-sufficient with top-notch educational institutions, healthcare facilities, and recreational spaces. In April, '19 East' emerged as the top-selling building. Developer sales dominated transactions, showcasing Nerul's appeal across different segments. With apartment sizes ranging from 243 to 2,782 square feet, Nerul caters to individuals and families alike. The surge in real estate activity underscores Nerul's status as a thriving hub, offering modern urban living with convenience and comfort.Read more

10 May 2024

Prominent figures including MakeMyTrip founder Deep Kalra, Den Networks' Sameer Manchanda, and entrepreneur CP Gurnani and family have purchased luxurious residences in The Camellias, Gurugram. Transactions totaling over INR 127.58 crore highlight the project's appeal to high-profile individuals seeking prestigious living spaces. With spacious apartments ranging from 7,430 to 10,813 sq. ft., The Camellias offers opulent amenities and a vibrant community atmosphere conducive to business connections. These acquisitions underscore the development's status as a premier residential address in the National Capital Region, epitomizing luxury and sophistication.Read more

10 May 2024

Airbnb's new "Icons" program grants guests access to the iconic Kapoor family home in Chennai, fulfilling the late actress Sridevi's dream of transforming it into a luxurious hotel. Applications open on May 9th, offering lucky winners a free stay for two, selected through a random process based on their connection to the Kapoor family. Janhvi Kapoor will personally host a tour, sharing family stories, and guests will enjoy South Indian cuisine, immersing in the Kapoor family's heritage. The program reflects Airbnb's confidence in the Indian market, catering to travelers seeking unique experiences beyond traditional accommodation. Other celebrity homes worldwide are also part of the program, offering extraordinary stays and memorable moments.Read more

09 May 2024

Eldeco Infrastructure and Properties Ltd (EIPL), a prominent real estate developer in North India, has joined forces with HDFC Capital Advisors Ltd to strengthen their collaborative platform aimed at housing projects nationwide. With an investment of INR 350 crore, the platform's total size now stands at INR 850 crore. This investment will fuel the development of group housing and plotted development projects, focusing on Tier 1 cities like Delhi and Gurugram, alongside Tier 2 cities such as Ludhiana, Sonipat, and Goa. EIPL's successful utilization of previous funds in diverse locations emphasizes its execution capabilities. The joint platform anticipates a cumulative revenue potential of INR 8,000 crore across 17 projects, with early launches in Panipat, Sonipat, Rishikesh, and Kasauli demonstrating strong initial demand. The partnership between Eldeco and HDFC Capital represents a step forward in addressing housing needs across India, with a focus on Tier 2 cities and affordability.Read more

09 May 2024

Hebbal, situated in Bengaluru's northern region, is a rapidly growing residential and commercial area known for its proximity to Kempegowda International Airport. In March, L&T Raintree Boulevard emerged as the top-selling building, with various options available for homebuyers. From luxurious apartments in Crown Aura to budget-friendly choices in Anand Nilaya, Hebbal caters to diverse budgets and preferences. The area offers a mix of housing options, including spacious homes and compact living spaces. With prices per square foot ranging from INR 930 to INR 46,932, Hebbal accommodates different budgets. Close to 52% of apartments sold fell within the INR 1 - 2 crore range, appealing to a large segment of buyers.Read more

08 May 2024

Awfis Space Solutions Ltd. and TBO Tek Ltd. have received the green light from the Securities and Exchange Board of India (SEBI) to proceed with their Initial Public Offerings (IPOs). Awfis plans to raise INR 160 crore through a combination of fresh equity shares and existing shares, while TBO Tek aims for a substantial INR 400 crore IPO. This IPO wave extends beyond them, with NBCC Ltd.'s record-breaking INR 23,500 crore worth of new projects and WeWork India's potential IPO. This trend reflects optimism in real estate, driven by rising demand for flexible workspaces and affordable housing. Successful IPOs not only attract investments but also stimulate employment opportunities and promote homeownership, shaping India's real estate landscape positively.Read more

08 May 2024

WeWork India, a prominent player in shared office space, is gearing up for an IPO within 18 months following Embassy Group's acquisition of the remaining 27% stake for INR 1,700 crore. This acquisition, combined with a planned divestment of 40% to investors for INR 1,200 crore, positions WeWork India strongly. Despite the complete ownership shift, Embassy Group aims to retain a 60% stake, ensuring control while accessing fresh capital. WeWork India's robust financial performance, with a 40% revenue increase and 90% EBITDA rise in FY24, highlights its appeal. Managing over 90,000 desks across 8 million square feet, their diverse clientele strategy sets them apart. Ambitious expansion plans targeting key cities align with the co-working market's projected INR 13,000 crore value by 2025. Transitioning to a franchise model further enhances operational independence and brand leverage, strengthening long-term growth prospects. WeWork India's IPO could reshape the workspace landscape, attracting broader market investment and disrupting traditional office lease models.Read more