BUSINESS
Real estate sector expects policy reforms, push for affordable housing from the new government
Apart from policy changes directly affecting them, developers' wish list include lower home loan EMIs, and introduction of sustainability incentives for the sector.
BUSINESS
DLF’s NRI investment touches 23% of total sales in FY24, highest since FY21
According to the data, the NRI share has witnessed a growth of at least nine percentage points in FY24 in comparison to the last financial year
BUSINESS
Lenskart’s Peyush Bansal, members of Dhanuka family buy luxury apartments in DLF's The Camellias in Gurugram
The documents showed that these apartments ranging between 7,361 sqft and 9,419 sqft were booked and purchased between 2015 and 2022 at The Camellias but the conveyance deeds for these properties were executed April 2024. The purchases cumulatively amounted to Rs 106.4 crore.
BUSINESS
India’s fractional ownership market to exceed $5 bn by 2030; Mumbai, Delhi NCR hotspots for SM-REIT investment: Report
Mumbai and Delhi NCR have emerged as top hotspots for asset acquisition opportunities under the SM REIT umbrella as both these micro-markets cumulatively account for nearly 50 percent of the SM-REIT worthy assets across the top seven cities, the report said.
BUSINESS
Haryana's department of town and country planning may demolish illegal floors
In February 2023, the Haryana government had kept in abeyance all fresh ‘stilt plus four floors’ building plan approvals of residential plots, including applications that were pending and that had been submitted for approval. The government is yet to take a call on whether to allow stilt-plus-four-floor buildings across the state.
BUSINESS
Leasing by Global Capability Centres in India surges 17% to 22.5 million square feet in FY2023-24: CBRE
Around 60 percent of the total GCC leasing share in January-March 2024 was in Bengaluru followed by Hyderabad (26 percent) and Delhi NCR (9 percent). Mumbai and Pune contributed 4 percent and 1 percent each.
BUSINESS
Yamuna authority to launch scheme for around 6,500 residential plots near Noida airport in June-July
This time, around 6,000 smaller plots measuring up to 30 sq m and larger size plots of between 200 sq m and 4,000 sq m will be on offer, and will be allotted in three sectors near the new airport.
BUSINESS
Hyderabad-based Navanaami Group secures Rs 250-cr funding from Union Bank of India for luxury housing project
The tentative investment of the project is around Rs 800 crore to Rs 900 crore, including the land cost. The total sales potential of the project is tentatively around Rs 1,200 crore.
BUSINESS
Lulu Group to set up logistics, food-processing centre in Amritsar
The retail giant has tied up with the Punjab government for the project and would soon begin work on the facility, Lulu Group director Salim MA has said
BUSINESS
Noida Authority sells 149 plots in FY24, gets Rs 1.03 lakh crore of investment commitments
Out of 149 land parcels, 37 were allotted in information technology sector, 12 in commercial segment, 11 were group housing plots and 89 land parcels in industrial category. Some of the major companies that were allotted land by the Authority include County Group, Godrej properties, Max Estates, IKEA, Uflex, Dixon and Experion Developers, among others.
BUSINESS
DLF to launch super-luxury project The Camellias 2 in Q3 FY25, each apartment to cost over Rs 50 crore
The Camellias 2 project is spread across 17 acres of prime land in DLF Phase-5 and has a saleable area of around 5 million square feet
BUSINESS
Yamuna Expressway Authority paves way for 4,000 registries across three projects
According to officials, developers owe around Rs 44,700 crore to the authorities in Gautam Budh Nagar. The dues for the Yamuna Expressway Authority stand at Rs 4,700 crore.
BUSINESS
Managed office space provider Skootr earmarks Rs 1,000 cr to add 5 mn sqft portfolio by FY28
Out of total 5 msf office space, around 2 msf will be in Bengaluru alone while Delhi NCR and Hyderabad micro-markets will have development of around 1 msf each. Total investment for the addition of 5 msf office space is likely to remain around Rs 1000 crore.
BUSINESS
India’s Grade-A office space demand to cross 70 msf in 2024: CREDAI–CRE Matrix report
Nationwide, market rentals across Grade A spaces continued to increase, with an 8.7 percent QoQ increase in Q1CY24.
BUSINESS
IKEA India gets closer to Delhi-NCR, partners with Rhenus to set up warehouse near Gurugram
The warehouse facility that measures 1.5 lakh square foot, will come up in Farrukhnagar near Gurugram.
BUSINESS
Greater Noida Authority warns developers to execute registries of flats or face action
According to official estimates, developers owe around Rs 44,700 crore to the authorities in Gautam Budh Nagar, of which around Rs 14,000 crore to the Greater Noida Authority. In total there are 96 such projects in Greater Noida where the flats are to be registered.
BUSINESS
Office rents surge up to 8% in March quarter, Delhi-NCR leads the pack: Colliers
Delhi-NCR saw the highest, 8.8 percent, rise in rents from the year-ago period among the top the six cities. The growth in rents has surpassed pre-Covid levels
BUSINESS
Global City project in Gurugram gets environment clearance from MoEF
The HSIIDC’s Global City is coming up in Gurugram sectors 36B, 37A and 37B near recently opened Dwarka Expressway. The Global City will spread across around 1000 acres and will have residential zones, industrial clusters, commercial zones.
BUSINESS
Municipal Corporation of Delhi begins survey of dangerous buildings ahead of monsoon
According to MCD estimates, there are around 35 lakh buildings in the 12 zones it oversees. In 2023, over MCD's building and maintenance department inspected 30.54 lakh structures, out of which 292 needed repairs and eight were declared dangerous.
BUSINESS
TCG Real Estate secures Rs 714-crore funding from SBI for World Trade Centre in Gurugram
Spreading over a land of 7.94 acres, the World Trade Centre in Gurugram comprises of a total leasable area of 1 msf consisting of office block and retail block in the form of four towers.
BUSINESS
NCR luxury real estate: Capital appreciation takes centre stage as rich Indians and NRIs ramp up investments
Luxury and super-luxury residences located at DLF Golf Links, DLF 5 in Gurugram such as The Camellias, The Magnolia and The Aralias have witnessed a price appreciation of around 125 percent between 2021 and 2024.
BUSINESS
MMT founder Kalra, Den Network’s Manchanda, entrepreneur Gurnani buy apartments in The Camellias in Gurugram
Documents show that these apartments ranging between 7,430 sqft and 10,813 sqft were booked and purchased between 2017 and 2023 but the conveyance deeds were executed in March 2024. The cumulative price of these properties was Rs 127.5 crore.
BUSINESS
Greater Noida Authority likely to commence e-auction of group housing plots in June
According sources, some A-grade developers such as Godrej, Sobha among others have evinced interest for group housing plots located in Greater Noida sector 12. The allotment rates for these plots range from Rs 36,500 per sqm to Rs 48,300 per sqm but sources say that because of presence of A grade developers and high demand the allotment rates can go upto Rs 1 Lakh per sqm during e-auction.
BUSINESS
Bengaluru witnesses highest rental yield of 4.45% in Q1 2024 followed by Mumbai and Gurugram
Bengaluru’s rental yield in pre-Covid 2019 stood at 3.6 percent, which amounts to a growth of 24 percent till date. Mumbai comes next with a rental yield of 4.15 percent in Q1 2024 as against 3.5 percent back in 2019.
