BUSINESS
Despite RERA rules, marketing of unregistered projects continues unabated, branded as 'expression of interest' period
According to real estate statutes, no residential or commercial development can be advertised without being registered with the respective state-level real estate regulatory authority. The advertisements are required to have details such as the RERA registration number, a QR code that leads to more details about the project, and the site address.
BUSINESS
Budget 2025: Easier loans for seniors, and ease of doing business for startups, needed to boost senior housing and co-working space segments
Despite projections of high demand for senior living in India in the coming years, penetration remains low. Experts say that relaxed mortgage plans and lower taxes and stamp duty can help push demand for a fast emerging sector
BUSINESS
Tata Steel and JSW Steel are rapidly losing their COVID-era cash pile. Here’s why
According to data from Bloomberg, cash, and cash equivalents of Tata Steel and JSW Steel have fallen by 45 percent to 28 percent between FY22 and FY24, after reaching historical peaks from windfall gains, driven by higher steel prices during the pandemic years.
BUSINESS
Strata receives SEBI nod to launch small and medium REITs, plans to launch six schemes in FY26
Strata plans to launch up to six SM REIT schemes in FY26, and ramp it up to one every month subsequently
BUSINESS
Puravankara buys 3.6-acre land parcel in Bengaluru's Kanakapura Road
The land parcel is expected to have a saleable area of 5.42 lakh square feet, with a gross development value of around Rs 700 crore, Puravankara has said
BUSINESS
Aditya Birla Real Estate says no impact on Niyaara project after Supreme Court setback
The Supreme Court bench of Justices Vikram Nath and Prasanna B. Varale overturned a Bombay High Court order from 2022, which had ordered the BMC to formally transfer the five acre land parcel to Aditya Birla Real Estate Ltd (then Century Textiles) after the latter filed a writ petition in 2017
BUSINESS
Looking for a south Mumbai address for less than Rs 4 cr ? Try these neighbourhoods
Despite popular perceptions that the south Mumbai market, arguably India's most sought-after address, is only a hub for ultra-luxury projects, some developers have aimed for the under Rs 4 crore "affordable luxury" segment.
BUSINESS
Office net absorption grows 18% to nearly 50 million sq ft in 2024; vacancy drops slightly amid tech recovery
Led by leasing from companies setting up large-scale global capability centres in cities like Bengaluru, Delhi NCR, Pune, and Hyderabad, tech companies made a partial recovery in terms of sectoral demand while demand from flex space operators rose sharply.
BUSINESS
Flat steel edges up on renewable energy demand
Flat steel prices showed incremental increases at the end of December but analysts say that overall demand momentum is tilted towards long steel products used in infrastructure projects
BUSINESS
Committed to smooth transition for residents, say developers of Nargis Dutt Nagar slum project
A number of developers have teamed up for the Nargis Dutt Nagar slum rehabilitation project, which may generate a revenue of up to Rs 10,000 crore. While Roshni Developers will be responsible for rehabilitating slum residents, Godrej Properties is expected to take up responsibility for the free-sale component
BUSINESS
As Mumbai's civic body cracks down on dust-spewing construction projects, developers shore up their act
Developers' bodies have instructed members to shore up their environment management plans, in accordance with latest guidelines from the BMC. Some projects have been affected by the construction ban in Byculla and Borivali (East), including 13 projects being executed by MHADA.
BUSINESS
Mumbai sees uptick in SEZ leasing following denotification
Leasing in SEZ-notified buildings in the Mumbai Metropolitan Region was around 1.42 million square feet in the first nine months of the financial year.
BUSINESS
Tata Steel shareholders may see further pain as possible $5-billion expense looms in Netherlands
The company has long been aware of the potential ramifications of the alleged violations, but analysts suggest it has failed to take remedial action. Last week, Tata Steel Netherlands submitted a draft environmental impact assessment (EIA) to local authorities, describing it as the "next step" in its green steel initiative.
BUSINESS
Mumbai to remain data centre king in 2025; Hyderabad will pip Chennai to 2nd place
About 230 MW of data centre capacity was likely added in 2024, and 250 MW more is expected next year, taking India's total capacity to around 1.21 GW.
BUSINESS
Welspun promoters in talks to sell stake in warehousing firm Welspun One
The Goenka family is currently in talks to liquidate part of its stake, but may fully exit Welspun One based on the direction of the talks, according to sources.
BUSINESS
A bumper year for residential real estate, but affordable housing woes may persist in 2025
Developers expect the momentum in premium and luxury housing to continue in 2025 after a stellar 2024 marked by strong pre-sales and price increases. However, the outlook for affordable housing remains uncertain, with developers continuing to exit the segment and homebuyers holding back due to interest rate and inflationary pressures.
BUSINESS
Borivali, Mumbai's far-flung northern suburb, is now buzzing with large residential deals
Two new metro lines in the area have dramatically improved connectivity in an area where the suburban railway was the main mode of commuting, and large developers have lined up in the area to seek greenfield and redevelopment opportunities.
BUSINESS
Average office rents crossed Rs 100 psf mark in Sep quarter, Bengaluru remains largest market
But Mumbai was the most expensive; co-working spaces were a major factor for the jump in rentals.
BUSINESS
MHADA extends application deadline for Konkan board lottery, reception remains lukewarm
The new application deadline is December 24. Nearly 14,000 housing units are available for sale under the KHADB lottery. Most of the flats are priced between Rs 14 lakh and Rs 21 lakh.
BUSINESS
Kamal Amrohi Studios, site of Pakeezah shooting, will house one of the city's biggest offices
Bengaluru-based real estate and alternate assets firm RMZ and CPPIB are investing around $750 million to set up RMZ Nexus, an office space located on the site of what used to be Kamal Amrohi Studios
BUSINESS
Housing redevelopment hype a cause for concern, says Raymond CMD Singhania
Raymond's real estate business, Raymond Realty, is in the process of being demerged from the parent and listed separately on the exchanges.
BUSINESS
Cement dealers hike prices incrementally across India this month, highest rise in south, east markets
Dealers have increased prices by Rs 5-10 per bag in western India, and by about Rs 20 per bag in northern India. On a lower base, prices in eastern and southern India have also increased by Rs 30-40 per bag, according to cement dealers.
BUSINESS
Prestige Estates targets Rs 10,000 crore annual revenue from Mumbai, Pune markets
Prestige Estates, a primarily south India-based realty company, has undertaken significant business development activities in the Mumbai Metropolitan Region (MMR) and has also set its sights on Pune. Two projects in Mumbai are expected to bring Prestige Estates a topline of around Rs 2,500 crore, says Tariq Ahmed, CEO, (west).
BUSINESS
Struggling with unsold inventory, MHADA increases size of Konkan board lottery
Around 16,000 houses will now be sold in the Konkan board lottery. Earlier, 12,000 affordable houses were up for sale
