News

The Raigad district government has ordered the e-rickshaw demonstration project to resume immediately. Matheran residents and activists want hand-pulled rickshaw workers retrained as e-rickshaw drivers.

Experion Developers, the Indian affiliate of Singapore's Experion Holdings, plans to launch many new projects worth over INR 10,000 crore this year. After buying five INR 2,100 crore land tracts, this venture was launched.

A cash flow surplus helped Mumbai-based Sunteck Realty reduce its net debt. This excess, mostly from Satguru Infocorp Services and Starlight Systems' 60 lakh share sales, would be used to accelerate the company's commercial activities.

Indian storage is experiencing a major shift, vital for global commerce. Knight Frank's 'India Warehousing Market Report – 2023' shows record demand in India's top eight markets, reaching 51.3 million square feet in FY 2022-23.

The Prestige Group wants to develop 1 million square foot residential apartments in Pune in 2024. This enterprise might earn Rs 750–Rs 1,000 crore. Ahmed said the Bengaluru-based developer would launch 3 million square feet of property in Mumbai seeking Rs 15,000 crore in revenue next year.

The overall value of housing inventory sold in 2023 would reach Rs 4.5 lakh crore, up 38% from 2022's Rs 3.27 lakh crore. Anarock Group research shows strong housing market expansion.

The Jawaharlal Nehru Port Authority (JNPA) earned Rs 426 crore by leasing 14 properties, comprising 42 hectares, in its Uran Taluka, Raigad district Special Economic Zone (SEZ). This e-auction promotes industrial expansion and marks JNPA's revenue milestone.

Bharat Mart, India's first UAE warehouse, will open in 2025. Similar to China's Dragon Mart, this programme allows Indian exporters to promote their goods. According to plans, Bharat Mart would span 100,000 square metres and include warehouses, retail, and accommodation.

HSBC rates Prestige Estates and Sobha 'buy' in Mumbai, DLF and Godrej Properties 'hold', and Oberoi Realty'reduce'. The brokerage company raised its share price predictions for several firms, indicating that interest rate swings and new projects would likely affect their profitability.

India's Office Market Leadership in APAC. India may dominate Asia Pacific office space demand by 2024. Over half of regional demand is projected from the top eight Indian cities, including Bengaluru, Mumbai, and Delhi.

Crompton Greaves, CG Power & Industrial Solutions, and K Raheja Corp. are redeveloping CG House, its headquarters in affluent Worli. Over an acre of leasehold land is used for electricity production, transmission, distribution and rail transportation.

Suraj Estate Developers, situated in Mumbai, plans to raise 400 crore via a main market share sale. The residential and commercial firm plans to use ₹285 crore for debt payments for both itself and its subsidiaries. The corporation would also spend 35 crore on property or land development rights.

Prestige Group, headquartered in Bangalore, launched its first residential property in Calicut, "Prestige Ocean Pearl." This project will redefine luxury living in Calicut, giving a peaceful respite from city life.

Cognizant Technologies, a major software corporation, is moving towards asset-lightness. The company will sell its large Hyderabad and Chennai offices. Cognizant's approach is to concentrate on non-core real estate and simplify operations.

GIFT City's second phase, comprising town planning concepts, is anticipated after state government evaluation and public comment. This phase intends to strengthen GIFT City's global financial hub status.