BUSINESS
Bengaluru landlords start compromising on apartment rents as techies move away from IT corridors
Today, with the mismatch between demand and supply of rental inventories tapering, several landlords have started decreasing rentals by Rs 10,000-15,000, even in prime locations like Koramangala.
BUSINESS
Bengaluru Airport City to feature over 45 MSF development; 2 MSF of GCCs to be operational by 2026
The Confederation of Indian Industry (CII)-CBRE real estate report released at the conference on July 10 said that Bengaluru is expected to see 330-340 msf of office space stock, almost 1.5 times the current 223 msf of commercial stock.
BUSINESS
Samsung R&D Institute renews Bagmane property lease in Bengaluru, pays annual rent of over Rs 50 cr
The 4.2 lakh sq ft property is located in Bagmane Goldstone, a part of the Bagmane World Technology Centre, and the total lease period is 60 months. The lease started on June 4, 2024, and Samsung paid a deposit of Rs 40.4 crore for the transaction.
BUSINESS
TATA Realty secures Rs 825 crore loan from IFC for its Ramanujan Intellion Park in Chennai
This funding is earmarked for the strategic refinancing of the business park and is part of Tata Realty's commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India.
BUSINESS
Marico promoter family member Priyanjali Mariwala buys Mumbai property for Rs 65 cr
The property sprawling over 9950.1 sq ft has four car parking slots. The registration was done on July 1, the documents show. The property is located in Sunteck Signature Island, a luxury development in Bandra.
BUSINESS
Mahindra Lifespaces closes two real estate deals worth over Rs 2,050 cr in Mumbai, Bengaluru
The strategic moves include securing a third redevelopment project in Mumbai and acquiring a prime land parcel in Bengaluru.
BUSINESS
Bengaluru flex office space leasing down over 40% in January-June
The leasing volume in the country's IT capital dropped to 1.7 million sq ft (msf) from a peak of 2.9 msf in the first half of the calendar year 2023
BUSINESS
Manappuram Finance MD buys sea-facing Mumbai apartment for Rs 41 crore
The apartment, sprawling 4,500 sq ft, is located on prime Carter Road and the seller is S Raheja Developers.
BUSINESS
Amravati: After a spike in land prices, will the city see an uptick in commercial real estate?
Even after the rise in prices, land is relatively affordable for those interested in developing commercial real estate assets. However, much depends on the state government's willingness to invest heavily in developing the requisite infrastructure.
BUSINESS
Screenwriter Javed Akhtar buys another property in Juhu worth Rs 7.76 crore
The ready-to-move-in property covers about 1199.42 square feet. The transaction completed on July 2, included a stamp duty of Rs 46.02 lakh and a registration fee of Rs 30,000.
BUSINESS
Bengaluru: Amid soaring real estate prices, mid-segment apartment demand sees decline in Q2 CY2024
Experts add that more home seekers, who are also unable to afford an apartment in the city, are turning to rental houses, reflected in the steadily increasing demand for rented properties in the city.
BUSINESS
Actress Tamannaah Bhatia rents commercial property in Mumbai for Rs 18 lakh per month
In another transaction, documents accessed by Propstack show that Bhatia mortgaged three properties in Mumbai for Rs 7.84 crore. The properties, sprawling a total of 2595 sq ft, are located in Lokhandwala Complex in Andheri West.
BUSINESS
After Abhishek Bachchan, Big B buys more apartments in Mumbai's Oberoi Sky City for Rs 9 crore
This comes after Abhishek Bachchan paid Rs 16 crore for six luxury apartments in the same project on May 6. The documents accessed by Zapkey show that Big B bought both apartments, which sprawl 1094 sq ft, for Rs 3.39 crore each.
BUSINESS
Aamir Khan acquires property in Mumbai's Pali Hill for Rs 9 crore
The property is located in Bella Vista Apartments, an upscale residential building situated in the upscale Pali Hill area. The ready-to-move-in apartment sprawls 1,027 square feet and the transfer deed was signed on June 25.
BUSINESS
Capri Global Holdings buys 2 apartments in Worli's luxury Birla Niyaara for Rs 78 crore
The apartments, sprawling 4371 sq ft and 4719 sq ft were sold at Rs 37.5 crore and Rs 40.4 crore. Both apartments have a total of 10 parking spaces and the seller is Birla Estates Pvt Ltd.
BUSINESS
KRERA orders Embassy Group to compensate buyers Rs 4 crore for delay in luxury Bengaluru project
According to Karnataka RERA documents, the RERA registration period for the project Embassy One was 2019. However, the authority granted an extension for 9 months in 2020 due to the Covid-19 pandemic. When the developer failed to complete the project even by that date, the authority extended it till 2026 in March 2024.
BUSINESS
CJ Darcl leases over 1.25 lakh sq ft of warehousing from IndoSpace near Bengaluru
This collaboration is a step towards enhancing the warehousing and distribution capabilities of CJ Darcl.
BUSINESS
Mindspace REIT secures Rs 650-crore sustainability-linked bond from IFC
The coupon of the bond is linked to Mindspace’s commitment to achieve certain ESG targets towards building a greener ecosystem, and the tenure is for seven years.
BUSINESS
After major spike, Bengaluru and Mumbai apartment rental growth on a slowdown
In Mumbai premium gated societies like Oberoi Splendor in Andheri East and Lodha The Park in Lower Parel saw a marginal growth of 4 and 9 percent respectively between 2023-2024. In Bengaluru, experts anticipate a drop in rental prices if the stagnation in the sector continues.
BUSINESS
Developers must repair structural defects in project up to 5 years after handover: KRERA
In this case, a buyer of a flat in Bengaluru complained to KRERA after the developer failed to fix the seepage from rainwater in his apartment.
BUSINESS
Mumbai bungalow, worth over Rs 104 crore in prime Juhu Vile Parle area, set to be auctioned
Market experts say the location of the bungalow on the celebrity street has already attracted the interest of more than 15 HNIs. The bungalow, located in Nutan Laxmi Cooperative Society, about a kilometre from Juhu Beach, has eight floors, including a duplex on the top floor.
BUSINESS
Mumbai: Abhishek Bachchan buys 6 apartments in Oberoi's project in Borivali for Rs 15 crore
Located in Borivali's posh Oberoi Sky City, the six apartments sprawl a total of 4,894 sq ft and were sold at a rate of Rs 31,498 per sq ft. The sale agreement was signed on May 5, 2024.
BUSINESS
Godrej Agrovet chief Nadir Godrej buys 3 apartments in Malabar Hill for Rs 180 crore
The apartment, sprawling 13,831 sq ft was sold at Rs 1.3 lakh per sq ft and is located in the posh Ruparel House. The seller is JSW Realty
BUSINESS
Algo-based trader IMC leases Mumbai office in one of India's highest rental deals
The space is located on the 4th floor of Maker Maxity 4 North Avenue building and the lease period is set to start on June 16. The company leased the space for 5 months with a monthly rent of Rs 40.81 lakh.
