24 Apr 2025

The Tamil Nadu Urban Habitat Development Board (TNUHDB) has imposed a penalty of INR 15 lakh on a contractor for significant delays in three housing reconstruction projects in Chennai. These projects, located in Gandhi Nagar, Periyar Nagar, and Goyathoppu, are part of the PMAY-AHP scheme and were expected to be completed within 18 months using pre-fabricated concrete technology. However, progress has been sluggish, with completion rates ranging from 34% to 45%. The delays have forced displaced residents to incur additional rental expenses. TNUHDB has warned of further penalties if the contractor fails to expedite the work.Read more

24 Apr 2025

Macrotech Developers Ltd (Lodha) has reduced its net debt by 7% to INR 3,990 crore in Q4 FY25, aided by record home sales and strong customer collections. Sales bookings rose 21% year-on-year to INR 17,630 crore, while collections jumped 29% to INR 14,490 crore. Despite acquiring 10 new land parcels across MMR, Pune, and Bengaluru-xpected to yield INR 23,700 crore in GDV-the company maintained healthy cash flow. Macrotech is also expanding into logistics, office, and retail segments. Separately, it resolved a brand dispute with House of Abhinandan Lodha, affirming independent operations and brand identities. The company remains firmly positioned for sustained growth.Read more

23 Apr 2025

NCR-based Apex Group has submitted a INR 700 crore proposal to the Supreme Court to revive 16 stalled Supertech housing projects, aiming to deliver 20,000 unfinished units across Noida, Greater Noida, and Ghaziabad. The plan includes settling INR 2,500 crore in dues to authorities over five years and has received initial support from the Uttar Pradesh government. Apex has already resumed work at Eco Village 2, now rebranded as Shree Radha Sky Garden. With 14,999 homes under construction and 5,000 pending financial closure, the proposal is under review by the Amitabh Kant Committee, offering fresh hope to 14,000+ affected homebuyers.Read more

23 Apr 2025

Bengaluru's luxury real estate market has hit a new milestone, with annual sales of homes priced above INR 10 crore surpassing INR 1,000 crore for the first time, according to a joint report by India Sotheby's International Realty and CRE Matrix. Notably, 42% of these high-end sales occurred in FY25 alone, signaling strong momentum driven by a booming tech economy, rising affluence, and growing demand for exclusive living. Hebbal led with 22% of total sales, while areas like Domlur and Bommanahalli are emerging as new luxury hubs. Buyers are favoring large apartments (5,000-7,000 sq ft), reflecting a shift toward lifestyle- and quality-focused investments.Read more

23 Apr 2025

Oberoi Realty Ltd reported a 31% jump in sales bookings, reaching INR 5,266 crore in FY 2024-25, up from INR 4,007 crore the previous year. The Mumbai-based luxury developer sold 928 units, compared to 705 in FY24, with total carpet area sold rising by 19% to 12.81 lakh sq ft. The strong performance reflects sustained demand for premium housing, particularly in Mumbai. With upcoming projects in Borivali, Thane, and Goregaon, and a focus on mixed-use developments, Oberoi Realty is well-positioned to benefit from India's positive economic outlook and growing interest in high-end homeownership.Read more

22 Apr 2025

Gunjur, a rising micro-market in Bengaluru, has seen a 146% surge in property prices since 2020, with average rates hitting INR 11,850 per sq. ft. in 2024. PropEquity attributes this growth to high demand for premium homes and strategic proximity to IT hubs like Whitefield and Sarjapur Road. Project launches rose by 150%, and unit absorption doubled over the past five years. Demand for 3BHK homes priced INR 1-2 crore has notably increased. Upcoming infrastructure projects like the Peripheral Ring Road and Bengaluru Business Corridor are further enhancing Gunjur's appeal, positioning it as a high-potential destination for investors and homebuyers alike.Read more

22 Apr 2025

The Kerala state government is actively exploring options to advance the stalled Global City project in Ayyampuzha, amid delays in receiving central approval. The project, part of the Kochi-Bengaluru Industrial Corridor (KBIC), has faced setbacks due to concerns over its residential focus, diverging from industrial objectives. While the Palakkad node has moved forward with cabinet approval and land transfer, Ayyampuzha's development remains on hold. The state is considering independent implementation, potentially using state funds, to keep the project viable. Despite the central government's hesitations, Kerala is hopeful for a resolution and remains committed to the project's progress.Read more

22 Apr 2025

Walmart has leased 460,000 sq. ft. of office space at Radial IT Park, Chennai, with a monthly rent of INR 3.26 crore and a 4% annual escalation, marking a major expansion of its India-based backend operations. The five-year lease, which began in January 2025, includes a INR 19.55 crore deposit. This move strengthens Walmart's tech and analytics capabilities in India, supporting global operations. Located in the ITPC hub managed by Ascendas India Trust, the facility joins a growing list of global firms choosing Chennai for their global capability centres. The deal underscores strong demand for Grade A tech-centric office spaces in India.Read more

22 Apr 2025

JP Infra, a prominent name in the Mumbai Metropolitan Region real estate landscape, has roped in Bollywood star Kareena Kapoor as its brand ambassador. Known for luxury, elegance, and sustainable developments, JP Infra's collaboration with the actor is intended to enhance its brand persona and deepen its connection with aspirational homebuyers. The move reflects the company's continued commitment to offering premium residential experiences.Read more

21 Apr 2025

Gurugram is set for a major transformation with the launch of Global City a INR 1 lakh crore, 1,000-acre mixed-use smart city along Dwarka Expressway. Phase 1, spanning 587 acres, involves INR 940 crore in infrastructure work including roads, a utility tunnel, and a 350 million-litre reservoir. The city will have 56% commercial and 40% residential use, with dedicated spaces for education, healthcare, and green zones. With seamless access to airports, railways, and highways, and smart transit like EV buses and LRT, the project targets 1.6 million people and 5 lakh jobs. Investors like DLF and Adani have shown keen interest in this futuristic hub.Read more