News

Andheri's Gokhale Bridge-C D Barfiwala Flyover alignment is nearing construction. By June 2024, BMC officials hope to complete placing expansion joints between the two buildings, levelling, and other minor work.

The office leasing industry is heavily influenced by GCCs in India because to their skill and cost advantages. GCCs continue to alter India's commercial real estate market as they develop across industries.

Google leased 649,000 sq ft of office space in Alembic City in Whitefield, Bengaluru. Sources report a monthly fee of ₹62 per sq ft with a three-year lock-in term. Google has been proactively purchasing conventional and flexible office premises in key Indian cities to expand its footprint.

Shahid Kapoor and Mira Kapoor bought a luxurious sea-view flat in Oberoi 360 West in Mumbai's posh Worli neighbourhood. The luxury house cost over ₹60.41 crore, including stamp duty incurred.

Godrej & Boyce Manufacturing Company sold an approximately 58,500 sq ft office across two floors in Godrej One, Vikhroli, Mumbai, to Godrej Industries for ₹157 crore. This is a significant Godrej Group real estate deal.

Mumbai's first metro line is nearing completion. The much-anticipated Aarey vehicle shed (maintenance facility), vital to metro operation, is nearly 99% complete. Metro trains will soon undergo final inspections and be ready for operation.

In 2024, over 5.3 lakh residences will be completed, a decade-high. The Covid-19 outbreak delayed projects and the government-backed SWAMIH fund revived them, causing this increase. NAREDCO states that almost 4.35 lakh units were constructed in the top seven cities in 2023.

The Andheri East-West Gopalakrishna Gokhale Bridge is on track to finish by June 30, 2024. The schedule for connecting this bridge to the C.D. Barfiwala Flyover is being followed. The project is actively monitored by municipal authorities and VJTI technical consultants.

Signature Global acquired 14.65 acres of valuable territory in Gurugram's Sector 37D, near the Dwarka Motorway, to strategically develop. Sources estimate the transaction to be worth about ₹350 crore.

Over the previous six years, unsold flat stock in the Mumbai Metropolitan Region (MMR) has dropped 14%. On Thursday, ANAROCK Research said that unsold apartments fell from 2.23 lakh in the first quarter of 2018 to 1.93 lakh by March 2024.

Mapletree Investments, a Singapore-based private equity organisation, bought a 41-acre Bengaluru property tract from Adarsh Developers. At over ₹1,900 crore, the acquisition is part of Adarsh Developers' debt reduction strategy. The site has 7 million square feet of development potential.

On its first day, Awfis Space Solutions, a major office-sharing provider, received offers that exceeded twice the amount of shares available. Bids for 17.4 million shares above the 8.62 million available, according to BSE statistics.

Signature Global, a real estate company, has purchased 14.65 acres of property in Gurugram for ₹350 crore to create a large housing complex as part of its development strategy. The corporation bought property in Sector 37D, near the fast-growing Dwarka Motorway.

Dvok Buildcon, a property developer, purchased an 18-acre site in Gurugram area for ₹310 crore, according to CRE Matrix filings. Gurugram-based firm paid ₹21.72 crore for agricultural property near Manesar, including stamp duty.

Real estate giant Sobha Group will affect Mumbai's luxury home market. The business plans to treble annual sales bookings to ₹30,000 crore in the next 4-5 years via an aggressive growth strategy.