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08 Apr 2025
Deputy Chief Minister Shri Eknath Shinde has directed the formation of a committee to identify land and formulate conditions for providing ownership homes to residents of the Bandra government colony. Spread over 125 acres, the colony includes 5,000 staff quarters and has long-awaited redevelopment plans. A delegation from the Government Quarters Residents' Association (GQRA) proposed 16 acres for 2,700 homes, offering to pay INR 200-250 crore at concessional rates. The move follows increased urgency after the Supreme Court's directive to allocate land to the Bombay High Court for a new complex.
07 Apr 2025
Chennai-based land aggregator and real estate firm G Square Realtors Pvt Ltd aims to double its revenue to INR 5,000 crore in the current financial year. The company is expanding across Tamil Nadu, Karnataka, and Hyderabad, including tier-2 towns. Established in 2012, G Square initially catered to corporate clients before entering the B2C market in 2021. The company has acquired over 4,000 acres and served more than 15,000 customers. It recently launched 'Aranya,' a premium residential project in Porur, Chennai, with plots priced between INR 4,290 and INR 6,000 per sq ft. The firm is also planning an IPO by 2028.
07 Apr 2025
Mumbai-based real estate developer Runwal Enterprises Limited has filed its draft red herring prospectus (DRHP) with SEBI to raise INR 1,000 crore through an initial public offering (IPO). The offering consists entirely of a fresh issue with a face value of INR 2 per share, without an offer-for-sale component. A pre-IPO placement of up to INR 200 crore may be considered, reducing the fresh issue size. Proceeds will be allocated for debt repayment, subsidiary investments, future real estate acquisitions, and corporate expenses. Runwal Enterprises, ranking second in Mumbai's real estate market for new launches and sales, reported a 188.55% revenue increase in FY24, turning profitable with INR 107.28 crore. ICICI Securities and Jefferies India are managing the IPO, with shares to be listed on BSE and NSE.
07 Apr 2025
In two notable real estate deals in Delhi's Golf Links, private equity executive Sanjay Kukreja and his wife, Shaveta Sharma, acquired a 11,250 sq. ft bungalow for INR 155 crore from Pradeep Varma, who subsequently purchased another bungalow of 6,498 sq. ft in the same area for INR 78.50 crore. The transactions underscore the premium commanded by single-owner properties in this sought-after market, where most bungalows are multi-owned. Industry experts noted that Golf Links remains highly competitive, with limited inventory and high demand, particularly for rare single-owner properties.
07 Apr 2025
India's office market recorded an all-time high of 28.2 million square feet in transactions during Q1 2025, reflecting a 74% year-on-year surge, according to Knight Frank. Global capability centres (GCCs) were the dominant occupiers, accounting for 44% of total space, with Bengaluru leading at 65% of all GCC transactions. The third-party IT services sector contributed 19%, benefiting from a resurgence in demand. Experts noted India's cost advantage and talent access as key drivers. With office space demand remaining strong, the market is projected to expand by 5-6% in 2025, reaching 75-78 million square feet.
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07 Apr 2025
Residential sales across India touched 88,274 units in Q1 2025, marking a 2% year-on-year rise, with the premium housing segment (priced above INR 1 crore) accounting for 46% of total sales.Pune and Chennai posted 20% and 10% annual sales growth, respectively, while Mumbai retained its top spot as the country's largest housing market. The ultra-luxury category (above INR 5 crore) surged 483% year-on-year. Simultaneously, new launches reached 96,309 units, continuing to outpace sales for the tenth straight quarter. Mumbai and Bengaluru contributed 44% of all new launches. NCR led premium sales (INR 2 crore+), while Bengaluru had the highest launch growth at 26% YoY.
04 Apr 2025
The trademark dispute between Abhishek Lodha-led Macrotech Developers and his younger brother's House of Abhinandan Lodha (HoABL) has intensified, with Macrotech alleging that HoABL fabricated documents to misuse its brand and trademarks. In a regulatory filing, Macrotech claimed that forged board resolutions were submitted to government authorities, featuring falsified signatures and altered PAN card details. Lodha Ventures denied the allegations, stating it is reviewing the matter internally. The dispute follows a INR 5,000 crore lawsuit filed by Macrotech against HoABL over the unauthorised use of the 'Lodha' brand.
04 Apr 2025
United Spirits has sold a residential property located in Mumbai's Malabar Hill area for INR 172 crore. The property includes furniture, fixtures, and fittings, spanning a ground floor and two upper floors. The buyers are Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani, who have no ties to the company's promoters or group. United Spirits, a subsidiary of Diageo, has been liquidating non-core assets previously owned by its former chairman Vijay Mallya, who stepped down in 2015. The company is based in Bengaluru, Karnataka.
04 Apr 2025
Residents of Parsvnath Exotica, a gated community in Gurugram's Sector 53, are voicing concerns about unlawful multi-storey buildings and commercial establishments springing up in adjacent Saraswati Kunj. The 28-acre gated society with 18 towers and approximately 900 flats is divided into two phases. Phase-2, which consists of towers D4, D5, and D6, directly faces Saraswati Kunj. Despite a 2016 court order halting construction, illegal activity continues, with slums sprawling, and buildings being converted into unauthorised PGs and warehouses. Local authorities have yet to take action, prompting Exotica residents to urge the Chief Minister for immediate intervention to protect the safety and wellbeing of over 3,000 residents in their community.
04 Apr 2025
Merino Shelters, a MAN Industries subsidiary, has partnered with Paradise Group to develop its 6-acre land in Nerul, Navi Mumbai, over six years. The deal includes an upfront payment of INR 70 crore and 30% of the RERA carpet area, valued at INR 650-INR 700 crore. The total monetisation is estimated at INR 770 crore. The land, near DY Patil Stadium and the upcoming Navi Mumbai International Airport, offers strong growth potential. MAN Industries aims to monetise non-core assets, while Paradise Group sees high development prospects.
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