BUSINESS
Omaxe Group launches 'The Omaxe State' with Rs 2500 cr investment in Delhi’s Dwarka
The Omaxe State in Dwarka Sector 19B is expected to be completed by 2027 and will have a revenue development potential of Rs 4,200 crore. The project will be India’s first integrated 5-in-1 destination with sports, retail, hospitality, food and culture arena featuring a state-of-the-art cricket-cum-football stadium.
BUSINESS
Godrej Properties buys 2 land parcels in Gurugram for Rs 515 crore, eyes Rs 3,400 crore top line
One of the plots meant for group housing is on the Golf Course Road and the other in Sector 39, close to the Delhi-Jaipur highway
BUSINESS
NBCC sells entire office and commercial inventory at WTC and Downtown for Rs 14,800 crore
NBCC through multiple auctions has sold entire office space measuring 32.88 lakh sqft, valuing Rs 13,408.7 crore at WTC, Nauroji Nagar, New Delhi. Similarly, the NBCC has successfully sold the entire commercial and retail inventory of 3.64 lakh sqft valuing approximately Rs 1,391 crore at Downtown in Sarojini Nagar.
BUSINESS
Office space leasing to hit record 80 mn sqft in 2024, Bengaluru, Mumbai to see highest growth
In terms of the cities, Bengaluru, Mumbai, Hyderabad, and Kolkata recorded the highest-ever office leasing figures in H1 2024. Bengaluru and Mumbai saw the highest growth of 132 percent and 71 percent respectively on y-o-y basis, followed by Hyderabad and Kolkata.
BUSINESS
Yamuna Expressway Authority to spend Rs 14,000 crore for acquiring 6,000-hectare land in next 5 years
According to the officials, of the total 6,065 hectares, 4,076 hectares will be acquired through land acquisition process and 1,609 hectares will be purchased directly from farmers through mutual agreement while 380 hectares will be reclaimed as it is the government land.
BUSINESS
Fractional ownership platform hBits to list first SM REIT by Q3, applies for licence
After the launch of its first SM REIT, the platform will migrate its existing properties into SM REITs over the next few quarters
BUSINESS
DDA's e-auction for luxury apartments, penthouses in Sept.
The reserve prices for a DDA penthouse is Rs 5.19 crore while that for Super HIG luxury apartments it is Rs 2.59 crore. The reserve price for 3BHK HIG units is between Rs 2.1 crore and Rs 2.28 crore and that for MIG 2BHKs units will start at Rs 1.28 crore.
BUSINESS
Grade A warehousing demand to post 12.5% CAGR until FY30 on continued strong appetite from retail, e-comm
Over the next five years, the retail, third-party logistics and e-commerce segments are pegged to drive 80 percent of Grade A warehousing demand, with absorption to hit 410 million square feet. At present, up to 70 percent of Grade A warehousing demand comes from cities including Delhi-NCR, Mumbai, Bengaluru, Chennai and Pune.
BUSINESS
Welspun One buys 22 acres near Gurugram for Rs 125-cr logistics, warehousing infrastructure
The 22-acre land parcel is situated along Bilaspur-Tauru road close to NH-8 near Gurugram. The project is likely to create 1,500 jobs
BUSINESS
Yamuna Expressway authority extends date of draw for residential plots near Noida airport to October 10
The last date for sending in applications for the scheme under which 361 residential plots are being sold, too, has been also been extended
BUSINESS
Yamuna Expressway Authority puts on sale 9 plots for institutional usage near Noida airport
These plots can be used for the construction of hospitals, nursing homes, nursery schools and child welfare and maternity centre. The Authority aims to raise close to Rs 100 crore from the plots
BUSINESS
Delhi NCR, followed by Hyderabad has largest average flat size, Mumbai the smallest
Besides seeing the highest rise of 96 percent in average flat size in the last five years, Delhi NCR has also recorded the highest rise in the last six months. Flat sizes here rose by 30 percent between end of 2023 and the first half of 2024.
BUSINESS
Godrej Properties, Sobha bag prime housing plots in Greater Noida
Greater Noida Authority on August 7 e-auctioned five group housing plots measuring about 1.36 lakh square metres for over Rs 1,500 crore
BUSINESS
Property Share receives India’s first SM REIT license; to launch IPO of the first SM REIT soon
Property Share co-founder, Moktan said that his company plans to launch the IPO of the first SM REIT scheme in 4-6 weeks. He also said that Property Share is also planning to list around 4-6 schemes in next 12 month totalling Rs 1500 crore to Rs 2000 crore.
BUSINESS
DDA to offer 173 premium flats in Dwarka at a starting price of Rs 1.28 crore
According to DDA, these will be part of the larger housing scheme where the agency will offer up to 40,000 flats that will cater to buyers in categories including economically weaker and low-income segments.
BUSINESS
RBI move to hold rates to keep housing demand afloat, help homebuyer sentiment, say real estate experts
The MPC of the RBI on August 8 decided to keep the repo rate unchanged at 6.5 percent for the ninth time in a row. Real estate developers and experts said that the RBI's approach will not only support economic growth but also firm up confidence in the housing market
BUSINESS
All you need to know about UP govt’s new township ‘Harnandipuram’ in Ghaziabad
According to experts, Harnandipuram township measuring 541-hectares will boost the real estate market in the region and will also prove to be a landmark step to harness the real estate potential of Ghaziabad.
BUSINESS
LTCG Tax Rollback: Major relief for middle-class homeowners, property prices may be impacted
This comes after a major backlash from the real estate sector, including the middle-class homeowners, for higher tax liability without the indexation benefit to factor in the market inflation.
BUSINESS
IDFC First Bank leases 1.64 lakh sq ft space in Mumbai for monthly rental of Rs 3.85 crore
The office units are located in Commerze III, International Business Park, Oberoi Garden City in Goregaon East off Western Express Highway in Mumbai. The lease period of the office space is of five years, documents showed.
BUSINESS
Max Estates to develop luxury residential project along Dwarka Expressway in Gurugram, eyes top line of Rs 4,000 crore
The project ‘Estates 360’ at Gurugram will come up at the cusp of Dwarka Expressway, CPR and NH-8 in Gurugram. The project will have one-third of the total luxury apartments dedicated for senior living.
BUSINESS
Global Capability Centres in India leased 53 msf of space from 2022-H1 2024, Bengaluru leads the table
In H1 2024, GCCs accounted for approximately 37 percent of the total office leasing activity in India. The share of Banking, Financial Services, and Insurance (BFSI) GCCs rose to 22 percent. Further, over the last two-and-half years (2022-H1 2024), technology companies have leased about 15 msf of office space.
BUSINESS
19 group housing plots up for grabs near Noida Airport on Yamuna Expressway; 5 things to know
The group housing scheme was floated on August 1 and will close on August 30, 2024. The e-auction will be condusted on September 30. The plots are located along Yamuna Expressway near Noida International Airport. The Yamuna Exprfessway authority is aiming to get at least around Rs 1,407 crore from allotment of these plots.
BUSINESS
Luxury homes accounted for 45 percent of the total housing sales in Delhi-NCR, Gurugram tops the chart: ANAROCK
Of total luxury housing sales in NCR in the first half of 2024, Gurugram saw the highest with 10,365 deals, followed by Noida and Greater Noida together with 3,550 while Delhi proper, Ghaziabad, Faridabad and Whiwadi accounted for 715 units.
BUSINESS
Budget 2024-25 failed to boost shrinking affordable housing segment, say developers
According to a recent report by ANAROCK, the share of sales in affordable housing has decreased from 37% five years ago to 20% in 2023. In Bengaluru, housing sales fell by 2 percent in January-March quarter of 2024 as compared to the same period in 2023.
