News

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:

The MHADA Mumbai Housing and Area Development Board is set to hold an e-auction for the sale of 173 non-residential shops on June 27, 2024.

Awfis, India’s largest flexible workspace solutions provider, is set to expand into new and existing markets, with a focus on strategic investments in smaller cities.

Office space sharing company Awfis, which went public last month, reported a net profit of ₹1.3 crore for the January-March quarter, a significant turnaround from a ₹13.8 crore loss in the same period last year.

Actor Abhishek Bachchan bought six luxury apartments at Oberoi Sky City, Borivali, for Rs 15.42 crore. Amidst lush greenery, this outstanding property provides great connections and top-notch facilities.

Central Park, a Bakshi Group company comprising infrastructure, hotel, and automotive businesses, plans to go public in 2-3 years. A top official said the corporation wants to capitalise on its expansion and pipeline.

Amazon will lease over 1.1 million sq ft of office space from Sattva Group in North Bengaluru, expanding its operations there. Amazon will occupy the 11-story office tower in Sattva Horizon business park near the international airport, which will house roughly 7,000 people.

According to insiders, the Adani Group is considering buying Penna Cement, Saurashtra Cement, Jaiprakash Associates' cement business, and ABG Shipyard-owned Vadraj Cement.

The Pradhan Mantri Awas Yojana (PMAY)'s financial assistance for 30 million more housing units will boost affordable housing and move closer to the government's goal of housing for all.

Rajesh Labhubhai Lakhani, Director of Kiran Gems, a leading diamond maker, bought a sea-view flat in Mumbai's posh Worli neighbourhood for over 97 crore. This 14,911-square-foot RERA carpet apartment sits on the 44th floor of Three Sixty West on Dr Annie Besant Road.

Frustrated by an 11-year wait, 51 homebuyers have taken legal action against the directors of Kiyana Ventures LLP Developers and their partners for allegedly cheating them out of Rs 17.68 crore in an under-construction project in Siddharth Nagar, Goregaon West

Mumbai’s first Metro line, the 12-kilometre Versova-Andheri-Ghatkopar corridor, celebrates 10 years of commercial service since its launch on June 8, 2014.

Brigade REAP announced Cohort 16 applications, with mentoring starting July 10, 2024. This 16-week hybrid programme advances construction, hotel, green tech, and proptech firms.

According to JLL, the time to sell active unsold housing inventory in India's top seven cities—Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata—has dropped 31%. Due to rising home demand, inventory liquidation took 22 months in Q1 2024, down from 32 months in 2019.

Ashar Merac in ShreeNagar, also known as the Mulund Thane Corridor (MTC), marks a return to the area where Ashar Estate was launched in 2001.