News

In the June quarter, India's top 21 listed real estate developers sold approximately ₹35,000 crore in homes, with Godrej homes having the largest sales bookings. This strong result shows rising customer demand for premium properties.

Adarsh Developers, a leading real estate developer, repaid a ₹750 crore structured financing arrangement from Edelweiss Alternative Asset Advisors in 2022 progressing towards financial stability.

NBCC has sold 533,000 sq ft of commercial space in two New Delhi developments, earning nearly ₹2,251 crore. The World Trade Centre project in Nauroji Nagar and the Sarojini Nagar Downtown project are both sold out, a major milestone for the firm.

Reports say the Indian Railway Ministry has approved the final placement survey of a 100-kilometer rail line between Nashik and Dahanu. This new route, which will run via Trimbakeshwar and Vangaon, is projected to save travel time between Nashik and Palghar's main sites.

Document registration is now easier for Mumbai homebuyers. Recently, the government announced that buyers no longer need to visit the sub-registrar's office where the property is located. Their property paperwork may be registered in any joint sub-registrar's office in Mumbai.

In H1 2024, total absorption in India's warehousing and logistics sector rose 8% from 2023. Vestian Research reported 16.6 million square feet of sector absorption in the first half of 2024. Compared to H2 2023, absorption fell 26%, mostly due to a 74% drop in the National Capital Region.

Mumbai's East Coast is becoming a real estate and commercial hub thanks to massive infrastructural investments. East Coast residential and commercial activity is ready to boom as Colaba to Wadala, encompassing Sewri and Byculla, expands.

In April 2022, the Mith Chowky flyover near Malad started construction, causing traffic congestion. Authorities expect to finish the flyover by December after it took more than 18 months to build.

IBM renewed its lease for 830,000 square feet of Embassy Golf Links Business Park office space in Bengaluru. The ₹143 crore yearly leasing contract is one of the biggest in the commercial office space category this year. According to insiders, this initiative would strengthen the US technology giant

The Supreme Court has granted permission to state-run NBCC (India) to generate an additional ₹15,000 crore by developing extra flats within the Amrapali projects. This move is intended to address the delivery of stalled homes to approximately 16,000 homebuyers, according to company executives.

WeWork India is reportedly in discussions to lease over 400,000 sq ft of office space across three significant properties in Delhi and Gurugram. This move is seen as part of their aggressive expansion strategy in the Delhi-NCR region, according to sources familiar with the situation.

Emaar India Ltd and MGF Developments Ltd have had immovable assets worth over 401 acres and ₹834 crore temporarily attached by the Enforcement Directorate (ED). Emaar owns properties worth ₹501.13 crore, while MGF Developments retains the remaining assets at ₹332.69 crore.

The long-anticipated Dharavi Redevelopment Project, covering nearly 600 acres in Mumbai’s core, is expected to commence construction within the next 6-8 months, according to SVR Srinivas, CEO of the Dharavi Redevelopment Project (DRP) and the Slum Rehabilitation Authority of Maharashtra.

REA Group, an Australian digital real estate advertising company, will launch its first India Global Capability Centre (GCC) in Gurugram in October. Steve Maidment, the company's chief technology officer, intends to raise India's employment to 10% of its worldwide team within two years.

The Union Cabinet, headed by Prime Minister Narendra Modi, has authorised 12 new industrial smart cities in 10 states to boost India's industry. This initiative, investing ₹28,602 crore, aims to generate 40 lakh jobs and boost industrial capacities in the nation.