News

The Tamil Nadu government aims to build a greenfield international airport in Hosur, transforming this border town of Bengaluru into an economic powerhouse. About three crore people will pass through the 2,000-acre airport.

Ixora Properties, Kalpataru's affiliate, sold ICICI Prudential Asset Management Company a Santacruz commercial skyscraper for about INR 315 crore. The asset management firm will move inside Kalpataru Infinia's new facility.

Deputy Chief Minister Ajit Pawar says the Sewri-Worli link would open in December 2025. Furthermore, 37km of new Metro lines will be inaugurated this fiscal year.

HCG, India's biggest specialist cancer care network, announced Friday its acquisition of Visakhapatnam's 196-bed Mahatma Gandhi Cancer Hospital and Research Institute (MGCHRI).

The Yamuna Expressway Industrial Development Authority (YEIDA) has formalized a concession agreement with Bayview Bhutani Film City, a special purpose vehicle (SPV), to develop an expansive film city in Noida. This major initiative aims to bolster the film industry in Uttar Pradesh.

Smartworks, a flexible workspace provider in Gurugram, secured INR 168 crore ($22.24 million) from investors to fund its development goals.

Election season, a heatwave, and rising property prices slowed Indian home sales in Q2 2024. This reduced unit sales by 8% from the previous quarter, according to a real estate consultancy group.

Apple will lease 400,000 sq ft of office space on Sankey Road from Embassy Group at a record cost of nearly ₹220 per sq foot per month.

Thare's Haware Citi, a peaceful community on Ghodbunder Road with 28 buildings and 7,000 residents, is protesting two ready-mix cement (RMC) facilities. MMRDA-approved, this development has raised neighbourhood health and environmental concerns.

The Dharavi Redevelopment Project Pvt Ltd (DRPPL), led by Adani Realty, seeks 334 tenements from government agencies like SPPL and Mhada to relocate residents and continue redevelopment. Negotiations are ongoing, with Mhada demanding Rs 641 crore in construction costs and interest.

Office space leasing in India's top six cities rose 19% to 29.4 million square feet in the first half of 2024. Mumbai and Hyderabad quadrupled office space absorption, with Bengaluru leading at 8.8 million sq ft.

The BMC must follow the Right to Fair Compensation and site Acquisition Act, 2013 to purchase part of a church-owned site in Borivali for a public park, according to the Bombay High Court. The BMC cannot seize the church until the process is followed.

Mumbai-based Aris Infra, a tech-driven construction material procurement platform, aims to raise ₹600-700 crore through an IPO. Backed by prominent investors, the company plans to file a draft prospectus next month.

Paradigm Realty plans to redevelop 11 housing societies in Bandra and Kandivali, Mumbai, with a revenue potential of ₹4,500 crore. Over 2.8 million sq ft will be covered by the projects.

The real estate industry is eagerly awaiting the Union Budget 2024-25 in the second half of July. The industry aims to advance, especially in industrial status and targeted assistance for development and stability. 7 main expectations are stated below: