General

The Story of High Street Rentals of Leading Indian Cities in 2023 is surely an interesting ones for retail brands, retail property developers, owners, brokers and the Indian real estate market as well.

IT services company Persistent Systems has rented almost 2000 seats from Smartworks, a supplier of flexible office spaces as per news from the Indian co-working sector.

Amazon Development Center (India), Amazon's software and support services division, has leased 200,000 square feet of office space in Pune's Gera Commerzone IT SEZ near Kharadi.

According to Delhi real estate market reports, several developers are avoiding registering their projects with the Real Estate Regulatory Authority (RERA) despite the necessity to do so whenever the developed area surpasses 500 square mtrs, regardless of the number of flats constructed on the plot.

Nalin Gupta, the managing director of the Civil Engineering firm J Kumar Infraprojects Ltd, has acquired two neighbouring homes in the exclusive Mumbai neighbourhood of Juhu for a total of INR 50 crore.

A tribunal for property-related appeals in Mumbai has upheld Maharashtra's real-estate authority's 2019 decree requiring property-listing websites to register as agents with the state regulator.

Bangalore based TriVeda Capital, a Sebi-registered Alternative Investment Fund (AIF), intends to fund INR 7200 Cr to invest in regional development projects.

In some amazing development, the chief minister of Maharashtra, Eknath Shinde, signed an MoU with Berkshire Hathaway HomeServices Orenda India to develop and operate physical and social infrastructure assets on the 1,000-acre smart city in Raigad during his five-day visit to the World Economic Forum

OC & CC definition and significance

MahaRERA has issued recovery orders for approximately Rs 15 crore in Raigad district. Recovery orders are issued when promoters fail to pay MahaRERA interest, refund, or compensation.

Minerva, India's tallest residential skyscraper in South Mumbai's Mahalaxmi neighbourhood, is backed by Shapoorji Pallonji Real Estate and PAG.

A myriad of infrastructural developments in MMR (Mumbai Metropolitan Region) promise to stimulate the real estate market in MMR in a big way in the days and months to come.

Google, a subsidiary of Alphabet Inc., has signed a long-term lease deal for a 381,000-square-foot data centre in Navi Mumbai for the next 28 years, as it expands its cloud infrastructure in India to meet surging demand in one of its key growth regions.

Mumbai-based luxury property developer Sunteck Realty would spend INR 7000 Cr to build 25 Million+ Sq Ft in 8 Years.

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