BUSINESS
IndoSpace sells 2.5 mn sqft warehousing space to Alta Capital for $100 mn
The assets sold by IndoSpace are located in Pune, Maharashtra, and in Sri City, Andhra Pradesh. Avendus Capital acted as the financial advisor to IndoSpace on the deal
BUSINESS
Mumbai property registrations decline 16% MoM in November due to elections, affordable housing troubles
According to the data from the Maharashtra government, 9,419 properties were registered in Mumbai during the month of November, a 16% decline over October and a 3% decline YoY, Stamp duty collections for the month, at Rs 826 crore, were lower by 31% over October, while being higher 16% YoY
BUSINESS
CRE Matrix launches national office rentals index, says large opportunity in REIT space
According to CRE Matrix, the data will be especially useful for investors in real estate investment trusts (REITs), as well as the nascent small and medium REITs (SM REITs), as it will help both investors and trust managers to make more informed decisions
BUSINESS
Paradigm Realty repays Rs 175-crore debt to Edelweiss two quarters early on strong sales, refinancing
Edelweiss' internal rate of return for the debt instrument was in the range of 18-19 percent. Paradigm said that the early exit to Edelweiss was made possible due to strong sales collections at 102 Downtown, as well as a refinancing exercise
BUSINESS
Mumbai-based Avighna Group acquires Dubai mixed-use property for Rs 555 crore
The Avighna Group bought the property through its UAE-based arm Avighna Invest. The property has around 1,50,000 square feet of commercial and retail spaces and is on Dubai's main arterial road
BUSINESS
After mega mandate, time for Mahayuti to fulfil infra, slum-free Mumbai promises, say developers
Developers have urged the new government to streamline and reduce regulations, especially with respect to affordable housing and ease of doing business.
BUSINESS
As Mahayuti sweeps Maharashtra, Adani’s Dharavi project gains momentum
Adani-led Dharavi redevelopment hinges on state support for housing over a million residents
BUSINESS
Despite home sales dip, average ticket size of homes increased in H1 FY25
The average home price in India rose 23% from a year earlier to Rs 1.23 crore in the April-September period, even as the number of home sales fell by 3% to 2.27 lakh.
BUSINESS
RMZ Corp, Colt ink joint venture, to invest $1.7 billion in 3 data centres
Opportunities beyond the planned investment, including acquisitions, will also be looked at, the two companies have said
BUSINESS
As developers supercharge redevelopment play, homeowners revel in new-found prosperity, lifestyle upgrades
Housing societies in legacy middle-income neighbourhoods in the western suburbs, fuelled by a shortage of land and FSI of up to 5.0, can now negotiate hard with real estate firms willing to undertake redevelopment projects.
BUSINESS
Blox picks up 11% stake in Guardians Real Estate Advisory for $12 mn
As part of the deal, Blox founder Aditya Jhaveri will join the board of Guardians, according to a release, with Blox planning to increase its stake in Guardians to 50 percent over the next three years.
BUSINESS
Shree Cement says focusing on premium product sales to mitigate sluggish industry pricing
In the July-September quarter, premium products formed around 15 percent of Shree Cement's trade sales.
BUSINESS
Shree Cement Q2 consolidated profit plunges 83%, revenue declines 15% YoY as volumes fall
Shree Cement's consolidated revenue fell by more than 15 percent year-on-year to Rs 4,054.17 crore, while its expenses declined by a marginal 3.5 percent during the quarter
BUSINESS
Mahindra Lifespace signs joint development pact for 37-acre Bhandup land, plans mixed-use project
The plot will have a development potential of around 3.6 million square feet, according to Mahindra Lifespace Developers
BUSINESS
No major capex for Tata Steel's Dutch unit in next 12 months, says CFO
Tata Steel's EBITDA in the Netherlands for the quarter was Rs 243 crore, against a loss of Rs 1,145 crore last year, but lower than the Rs 453 crore reported in the April-June quarter.
BUSINESS
Bengaluru market has moved beyond 'pilot' phase with strong pipeline, says Macrotech MD & CEO
In FY24, Macrotech reported pre-sales of around Rs 1,400 crore in two projects in Bengaluru, and has added two more projects in the city with a gross development value of Rs 3,800 crore.
BUSINESS
Macrotech buys out Bain Capital stake in 3 digital infra entities for Rs 307 cr
Earlier, Macrotech had also bought out real estate firm Ivanhoe Cambridge's stake in the three entities. The plan is in line with the company's strategy to increase annuity income
BUSINESS
Tata Steel back in the black in Q2 with Rs 759-crore net profit, but revenue falls on weak India ops
Tata Steel Q2 results: Revenue falls 3% to Rs 53,905 crore, as the company's India operations saw a decline in prices amid cheap exports, even as steel volumes rose marginally YoY
BUSINESS
Planning to launch one SM REIT scheme every month in 2025: PropShare CEO
SM REITs are floated as individual schemes, like asset management companies launching individual mutual funds. Each SM REIT scheme represents a separate investment opportunity, largely in commercial properties.
BUSINESS
As Navi Mumbai airport shapes up, developers make cautious inroads into region
While large developers have explored the area, they are waiting for the airport's completion and more economic activity before undertaking business development near the Navi Mumbai Airport
BUSINESS
Diwali fuels a surge in premium products’ demand across sectors
Consumers are ignoring macroeconomic headwinds to splurge on luxury items across sectors, including clothing, jewellery, automotive and high-end real estate, during this festive season, data shows.
BUSINESS
President or not, demand for Trump Towers on the rise in India
Two Trump Towers have been completed in Pune and Mumbai and two more are under construction in Gurugram and Kolkata, and at least four additional towers are in planning
BUSINESS
Diwali set to light up real estate sales; inquiries up by 15-20%: Developers
Experts said attractive interest rates on home loans and the cultural inclination to make significant investments such as buying real estate during Diwali are adding to the sales glitter.
BUSINESS
Ambuja Cements expects cement demand to grow 8-9% in October-March FY25
The first half of the year has been a near-washout for the industry in terms of demand and pricing, due to the near-three-month-long General Election, and the monsoons
