News

Embassy Office Parks REIT, India's first listed REIT and Asia's biggest office REIT by area, increased its fiscal 2025 leasing objective to 6.5 million square feet from 5.6 million. This adjustment shows that corporate occupiers, notably GCCs, continue to seek premium office locations.

Runwal Realty, a prominent real estate developer, acquired a 4-acre land parcel in Mumbai's Worli neighbourhood for ₹800 crore, including taxes and government levies. The developer plans to build a 1 million square foot luxury residential development, generating ₹8,000 crore in revenue.

The Rhythm House near Kala Ghoda in Mumbai has reopened after closing permanently in 2016. Bhaane Retail, a Shahi Exports Pvt Ltd. affiliate, bought the famed music shop for INR 48 crore.

MahaRERA's groundbreaking mandate requires developers to mention agent commissions, broking fees, and charges in sales agreements with licensed real estate agents. This requirement strengthens agents' official roles in transactions and improves openness and accountability in real estate transactions

Hindustan Unilever (HUL), a major consumer products company, leased a 600,000-square-foot warehouse in Bhiwandi, near Mumbai. The Mumbai Metropolitan Region (MMR)'s biggest warehouse transaction in recent years is this 7-year arrangement.

Primus Senior Living got $20 million in early financing from General Catalyst. The investment includes Gruhas co-founder Nikhil Kamath and Abhijeet Pai. Prime Senior Living founder and managing director Adarsh Narahari announced.

At the Bombay Times Fashion Week 2024, Ashwin Sheth Group and designer Sheetal Batra combined luxury real estate and high fashion in Mumbai. Batra's inaugural collection, Ruhaniyat, drew from Kashmir's rich cultural legacy and blended traditional craftsmanship with modern beauty.

Tata Toyo Radiator, a joint venture comprising Tata AutoComp Systems, T RAD Co, and Mitsubishi, leased a 250,000-square-foot facility in Khed, Pune. The 10-year lease expands the company's supply chain infrastructure.

India's biggest and most costly real estate market, Mumbai, started the 2024 festival season with strong Navratri property registrations. Between October 3 and 11, the city registered 5,199 properties, a 13.2% increase over Navratri 2023.

Massive Odisha Investment Vedanta plans to spend ₹1 lakh billion in Odisha to build a 6 million tonne alumina refinery and a 3 million tonne aluminium factory. Despite having no deadline, this investment is projected to strengthen the state's manufacturing sector and generate jobs.

Kotak Mahindra Bank would buy Standard Chartered Bank India's ₹4,100 crore personal loan portfolio. This transaction should be completed in three months, pending regulatory clearances and closing conditions. The loans purchased are conventional, easing the transfer for banks and clients.

MahaRERA has warned purchasers about 314 housing projects undergoing corporate bankruptcy resolution at the National Company Law Tribunal. A major 236 projects are in Mumbai, 52 in Pune, nine in Haveli, and five each in Ahmednagar and Solapur.

The state cabinet accepted the transfer of 140 acres of Malwani and Aksa property from the suburban collector for the ambitious Dharavi Redevelopment Project. Land will be utilised for rental homes for slum inhabitants ineligible for free housing under the project.

The Maharashtra houses and Area Development Authority has long promised affordable houses. However, a recent decision has caused major changes in low-income property pricing between 2023 and 2024.

IAS officials, including Dharavi Redevelopment Project (DRP) CEO SVR Srinivas, Cidco president Vijay Singhal, and BMC associate municipal commissioner Abhijit Bangar, discussed city initiatives during the Maharashtra Infrastructure Conclave.