BUSINESS
Naidu comeback: Experts expect 10-15% real estate price correction in Hyderabad, resurgence in Amaravati
The Telugu Desam Pary's resounding mandate in the recent election has renewed Amaravati's real estate potential. Experts say newly elected chief minister Chandrababu Naidu has already proved his mettle in developing Hyderabad as an IT-ITeS and industrial hub earlier, thereby spurring rapid real estate development.
BUSINESS
Hyderabad: Top MNCs take over 8.7 lakh sq ft of office space on lease, pay Rs 3 cr monthly rent
In four separate deals, signed on May 28, companies like Qualcomm India, LTIMindtree, IBM India, and S&P Capital IQ India Pvt Ltd, have leased office spaces in the IT hubs of Hitech City and Gachibowli. Rents range between Rs 70 lakh to Rs 3.15 crore.
BUSINESS
UK govt dept buys office space in Mumbai for Rs 101 crore
The documents showed that 12 office units, sprawling 14,883 sq ft, were sold on May 5 in Lower Parel's One Lodha Place building. The seller is One Place Commercial Private Ltd, a subsidiary of listed real estate developer Lodha Group.
BUSINESS
Bollywood actress Triptii Dimri buys luxury property in Mumbai for Rs 14 crore
Bandra West, known for its posh neighbourhoods and Uber apartments, has seen several big-ticket deals in recent years. Apart from Triptii Dimri, Bollywood actresses Alia Bhatt, Kajol Devgan and Janhvi Kapoor's family have bought homes here since April 2023.
BUSINESS
Despite homebuyer taking possession, KRERA orders Prestige Group to pay compensation for delay
The Prestige Group claimed that the complaint was not sustainable as the homebuyer had already taken possession of the apartment and had been residing there from 2019 onwards.
BUSINESS
Real estate company director buys luxury apartment in Mumbai for Rs 97 crore
The apartment is located in Oberoi 360 West, which is regarded as one of Mumbai's most expensive real estate.
BUSINESS
Sonu Nigam's father buys luxury Mumbai property for Rs 12 crore
The documents show that the stamp duty paid for the deal was Rs 72 lakh.
BUSINESS
Exclusive: Kites Senior Care, Columbia Pacific announce senior living merger; plans Rs 200 crore spending
The merged entity will operate under the leadership of Rajagopal G, co-founder of KITES Senior Care, who will serve as the CEO and director of the board.
BUSINESS
Property conveyance: KRERA asks developer to hand over possession of common areas to homebuyers
While real estate experts in Bengaluru applauded handing over possession of common areas to the association, they flagged several issues affecting homebuyers.
BUSINESS
Godrej & Boyce sells two office spaces in Mumbai to Godrej Industries for Rs 157 crore
Recently, the Godrej family announced an ownership realignment of the shareholdings in the group companies.
BUSINESS
Karnataka RERA orders owners' association to take over and complete delayed project
The regulatory authority said that the developer Commune Properties and financier Anand Rathi Global Finance have violated the prohibitory order passed by the bench in 2022. While the developer mentioned that the 188 flats mortgaged to Anand Rathi were unsold, the KRERA order mentioned that about 90 flats were already sold.
BUSINESS
Divi’s Labs founder’s daughter buys two properties in Hyderabad for Rs 80 crore
Each of the properties, which costs Rs 40 crore, sprawls about 11,043 square feet and is located in the same area in Jubilee Hills.
BUSINESS
Columbia Pacific to invest Rs 200 crore, add senior living projects in 4 new cities
Currently, the company is actively looking at land parcels in Mumbai and other Tier II cities like Hosur close to Bengaluru.
BUSINESS
Diamond company promoter buys Mumbai apartment for Rs 97 crore
The apartment is in the Oberoi 360 West project in Worli, considered one of the costliest pieces of real estate in Mumbai.
BUSINESS
Widening gap between income and housing rents makes life tough for salaried Indians
Experts say, the gap between monthly rentals and EMIs has been narrowing, making many tenants take the plunge and decide to purchase instead of continuing to stay on skyrocketing rentals.
BUSINESS
Narayana Hrudayalaya buys 1.2-acre land parcel in Bengaluru for Rs 169 crore
The 52,272 square feet land is situated in Begur Hobli in south Bengaluru.
BUSINESS
ASK Property Fund to raise Rs 2,000 crore for Indian real estate by FY25
This will be the company's third debt fundraising. To date, ASK has raised about Rs 6,100 crore since 2009.
BUSINESS
Arihant Foundations to invest Rs 650 crore in real estate, forays into Bengaluru
As part of its Bengaluru plans, the company intends to develop Grade A office spaces with an investment of Rs 150 crore.
BUSINESS
Explainer: Can deposit-free house rents solve Bengaluru's rental woes?
According to local brokers, new employees shifting to Bengaluru often cannot cough up the large sums asked, and the workaround prospective tenants are looking at is renting a place sans a lump-sum payment upfront.
BUSINESS
Bengaluru’s Mantri group tells SC it has given possession in its delayed project, but flats don’t have an OC
Buyers said that they could not take possession of their flats because contrary to what the developer had told the apex court, many flats were not ready for possession as they did not have an OC, which is mandatory prior to handing over possession.
BUSINESS
Residential segment contributed 63% of total realty investment in Q1 2024, says report
Among the top Indian markets, Bengaluru led the investment inflow with a share of 25.6 percent of total investments in the quarter.
BUSINESS
Despite being sold to new owner, KRERA orders developer to return plot to initial homebuyer
While the developer was ready to refund the initial amount paid by the homebuyer, the authority ordered the developer to sign the sale deed and handover the plot.
BUSINESS
Provident Housing secures Rs 1,150-crore investment from HDFC Capital
This will add to the ongoing 14.8 msf of projects with a combined gross development value of RS 17,100 crore
BUSINESS
Chennai leads Bengaluru, Hyderabad in offshore MNC office leasing
MNCs leased 7 million square feet of office space in Chennai in CY2003 compared with 6.1 million sq. ft in Hyderabad and 5.6 million sq. ft in Bengaluru.
