News

Bajaj Housing Finance Limited (BHFL) plans to raise 6,560 crore via an IPO, including new share issuance and a sale. With quick expansion since its founding, a broad loan portfolio, and sound financials, BHFL can capitalise on India's rising housing demand.

Arkade Developers will have a Rs 410-crore IPO on September 16, 2024. A new equity share issuance, the IPO, will be offered for public subscription until September 19. The anchor investor bidding window opens on September 13 before the public offering.

Gautam Adani, chairman of the Adani Group, said the Dharavi rehabilitation project is more than urban regeneration; it will change the lives of nearly one million people in one of the world's greatest slums. Adani said at Mumbai's Jai Hind College that the project would restore Dharavi's dignity.

Recent TDR regulation amendments in Mumbai could jeopardise the city's growing real estate industry. With developers being forced to get a percentage of their TDR from the Dharavi redevelopment project at higher rates, home prices may rise.

Prestige Estates Projects' subsidiary Prestige Exora Business Parks purchased its partner's land parcel and development rights in Pune's desirable Kharadi neighbourhood. Land of about 4.5 acres was acquired for approximately ₹200 crore.

The most Indian Green Building Council (IGBC)-registered projects are in Maharashtra, followed by Uttar Pradesh and Gujarat. Over 7,000 IGBC-certified projects encompass 1,370 million square feet of built-up area in India, demonstrating its dedication to sustainability.

An innovative Mumbai-Ahmedabad bullet train station in Boisar, Palghar district, is planned to improve connectivity and infrastructure. This station is ideally located in the Boisar-Tarapur MIDC (Maharashtra Industrial growth Corporation), a major tourist destination, and much more.

Real estate professionals are concerned about GST on leasehold land transactions. As authorities send GST notifications on stamp duty-exempt transactions, are these transfers sales or services? This may hurt developers, companies, and homebuyers financially.

In Mumbai, Bajaj Finserv chairman Sanjiv Bajaj said Bajaj Housing Finance should become the "HDFC of the future." He observed that the mortgage giant left the industry after a reverse merger with its banking business, creating this opportunity.

Maharashtra's senior population is expected to reach 17% by 2036. A housing demand plan has been draughted by the state housing department. Senior housing is precisely defined and has specific planning and building guidelines under Unified Development Control and Promotion.

The BMC expects one arm of the Mumbai Coastal Road arch bridge, connecting to the BWSL, to open tentatively on September 15, 2024. Civic sources anticipate the south-bound roadway to handle northbound Marine Drive-Bandra traffic when it opens.

Amazon, Cognizant, IBM, Accenture, and McKinsey are renewing leases in India's office space market, which is booming. Bangalore led the list of cities where major firms renewed office space, with 1.6 million square feet renewed between January and July 2024.

Godrej Properties Ltd. (GPL) won an e-auction held by the Haryana Shehri Vikas Pradhikaran (HSVP) and successfully acquired two prime luxury group housing plots in Gurugram with a winning offer of ₹515 crore.

The government wants to develop 2 lakh homes in Mumbai and Pune within three years, transforming the housing markets. This ambitious plan seeks to eliminate Mumbai slums, increase MHADA lottery possibilities, and revive SRA projects.

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.