18 Jun 2025

Asset reconstruction companies (ARCs) are seeing stronger recoveries in the real estate sector. According to Crisil Ratings with security receipt (SR) realisations improving to nearly 38% this financial year, up from 22% previously. This boost is mainly due to completion of stalled residential projects in NCR, MMR, and Bengaluru. Around 2.5 million sq ft of housing stock has been revived, with 40% nearing completion. Crisil noted that most recoveries are coming from mid to premium segments, supported by debt restructuring, last-mile funding, and flexible regulations enabling project-wise resolution.Read more

17 Jun 2025

Bank of Baroda has placed the highest bid-INR 370 crore-for 83,000 sq. ft. of office space in Godrej BKC, formerly owned by Jet Airways. The auction, held under the Insolvency & Bankruptcy Code, had a reserve price of INR 335.24 crore. While the bank leads the bidding, final ownership depends on Brookfield Asset Management, which already owns two floors in the same building. The Godrej BKC property, a 19-story tower built by Godrej Properties and Jet Airways, includes high-profile tenants like the World Bank and PayPal. The space was recently unsealed by NCLT after earlier closure by the BMC due to unpaid dues.Read more

17 Jun 2025

Japan's Toyo Engineering Corporation and MODEC Inc have jointly inaugurated their Global Capability Centre-TOYO MODEC OFS India Pvt Ltd-in Bengaluru. Located in Godrej Centre, Indira Nagar, the 1,00,000 sq ft facility will support international Floating Production Storage and Offloading (FPSO) projects. Aimed at boosting innovation and delivery efficiency, the centre currently employs 200 professionals and plans to expand to 750 within three years. This move highlights India's role as a key engineering talent hub. Inaugurated by Japan's Consul General, the centre reflects deepening Indo-Japanese collaboration in energy and infrastructure, while creating high-value engineering and procurement jobs.Read more

16 Jun 2025

Ashwin Sheth Group has acquired a 50% stake in the luxury 'One Marina' redevelopment project on Marine Drive, South Mumbai, and secured INR 540 crore funding from Singapore-based PAG to support its development. The 10 lakh sq. ft. project is expected to generate INR 2,300 crore in revenue upon completion. The stake was acquired from Vallabh Sheth and Jitendra Sheth, former joint stakeholders along with landowner YM Infra. PAG's USD 65 million investment will be used for project construction. Ashwin Sheth Group aims to position One Marina as a prestigious address in South Mumbai. The collaboration reflects confidence in premium redevelopment ventures and aligns with the group's strategy to revitalise legacy assets. With over 38 million sq. ft. delivered and 7 million sq. ft. under development, Ashwin Sheth Group continues to expand its footprint in India's luxury housing segment.Read more

16 Jun 2025

India's residential property market has seen a sharp 48% rise over five years, according to the 1 Finance Housing Total Return Index, which measures pricing, rentals, and demographics. Bengaluru topped growth charts with a 79% increase, reaffirming its strong residential appeal. Mumbai remains India's most expensive market, with average rates nearing INR 26,975 per sq. ft. Delhi-NCR saw a 30% drop in unsold inventory, signalling healthy demand, while Hyderabad's stock ballooned by 177%, pointing to oversupply. Chennai reported a 51% rise in new launches but only 10% growth in sales, hinting at pressure on absorption. Kolkata saw both launches and sales decline by 29%. Across top metros, new launches rose 10% and sales jumped 33%, outpacing supply despite a 32% uptick in unsold inventory. The data highlights strong buyer sentiment and varying regional dynamics shaping India's maturing real estate market.Read more

13 Jun 2025

Incture, a prominent provider of AI and digital solutions for SAP clients, has inaugurated its latest facility the Trinoyon Digital Product & Technology Center, in Kolkata. Marking its sixth centre in India and second in Eastern India, this strategic expansion underlines Incture's ambitions to scale innovation and regional growth. The new hub, situated in Sector 5, Salt Lake, is expected to house over 300 employees within three years and will play a crucial role in the development of the AI-powered Cherrywork suite. The centre also aims to serve enterprise customers globally as an SAP implementation hub.Read more

13 Jun 2025

Hyland, the creator of The Content Innovation Cloud, has inaugurated its new office in Hitech City, Hyderabad, reflecting a pivotal step in its global expansion drive. The new centre aims to serve as a strategic innovation hub, empowering Hyland to cater effectively to clients across the Asia Pacific region. The facility, which complements the company's existing presence in Kolkata, will focus on product development, customer success, and technical support while creating key employment opportunities and drawing from Hyderabad's vast tech talent pool.Read more

13 Jun 2025

Amazon Development Centre India, along with its Seller Services unit, has leased over 1 million sq ft of office space in a tower near Kattigenahalli on Airport Road, North Bengaluru, for a monthly rent of INR 6.1 crore. The 10-year lease, signed via Sattva Horizon, began in October and includes a 15% rent escalation every three years, with no upfront deposit. The 11-floor building, located less than 30 minutes from the airport, can accommodate 6,000-7,000 employees, with Amazon paying INR 62.04 per sq ft for a carpet area of 714,000 sq ft. This large-scale commitment strengthens the commercial appeal of the Airport Road corridor, where residential rents for 2BHK units range from INR 20,000-25,000 and sale prices start at INR 80 lakh.Read more

13 Jun 2025

Prestige Estates Projects Ltd has established a sales target of INR 27,000 crore for the ongoing fiscal year, marking a 59% rise from the previous year, despite missing its earlier projection due to regulatory hurdles. While last year's pre-sales dipped 19% to INR 17,023 crore, the firm remains optimistic owing to a healthy pipeline and strong initial sales in the first quarter. With INR 42,000 crore worth of launches planned across key cities and a notable rise in average realisation rates, the company aims to bounce back sharply and capitalise on sustained housing demand.Read more

12 Jun 2025

Chandigarh's long-delayed Sector?53 housing scheme has been shelved again by the city's Housing Board after property prices spiked sharply due to revised collector rates. Despite a strong response from the public-over 7,400 applications-the scheme was deemed unaffordable in its current form. CHB has decided to refund around INR 7.5 crore collected from applicants. This marks another setback for a project that has been struggling to take off since it was first proposed over six years ago.Read more