Property / C'struction
NBCC completes sale of commercial space in Delhi, generates Rs 14,800 crore
NBCC has successfully sold commercial space worth Rs 14,800 crore at its World Trade Centre project in Nauroji Nagar and Sarojini Nagar Downtown, New Delhi. This revenue will facilitate the completion of the redevelopment of seven Delhi colonies. Notably, both PSU and private entities have acquired sizeable portions of the commercial space.
Suraksha Group earmarks 2,552 acre of land in Delhi-NCR for Jaypee Infratech lenders
Suraksha Group has taken control of Jaypee Infratech Ltd, allocating 2,552 acres of land for lenders. The group is focusing on completing 20,000 pending flats in Delhi-NCR. They have invested Rs 125 crore as equity and arranged a Rs 3,000 crore loan. Construction on several stalled towers has resumed.
Mumbai housing sales value likely to surpass Rs 2 lakh crore mark by 2030: JLL
Mumbai's housing market is projected to reach Rs 2 lakh crore by 2030, driven by infrastructure developments and increasing sales, according to JLL India report. By 2024, residential sales value is expected to hit a record Rs 1.35 lakh crore. Enhanced connectivity in areas like Navi Mumbai and Thane is boosting launches and sales.
Urban Vault leases 1 lakh sq ft of prime office space in Brigade Summit, Whitefield, Bengaluru
Urban Vault has leased 100,000 sq ft of office space in Bengaluru's Whitefield to expand its managed co-working operations. The new facility will accommodate over 2,000 desks. Urban Vault currently operates over 20 lakh sq ft of office space and plans to enter Pune, Gurugram, and Hyderabad markets by FY25.
The Chapter to invest Rs 850 cr in luxury villas across leisure destinations
The Chapter, a luxury home developer backed by prominent investors, is set to invest over Rs 850 crore in developing high-end villas in prime leisure destinations across India. With significant projects planned for Goa, Alibaug, Karjat, and Kasauli, this initiative aims to meet the growing demand for exclusive living spaces among affluent buyers seeking privacy and luxury.
Net office leasing to grow 10-12% to 41-43 million sq ft this fiscal: CRISIL Ratings
Net leasing of Grade A commercial offices in India is projected to rise by 10-12% this fiscal, driven by strong demand from global capability centres, banking, financial services, insurance, and manufacturing sectors. This growth will improve cash accruals and credit profiles of commercial real estate entities. CRISIL Ratings highlights floor-wise denotification of SEZs aiding this trend.
Curated Living, BNMV Trust partner for student living project in Mumbai’s Juhu
Curated Living Solutions has partnered with Shree Bhanbai Nenshi Trust for a 10-year lease on a girls' hostel property in Mumbai's Juhu locality. The Ivy League House will offer 325 beds to cater to the rising demand for off-campus student housing in the city, highlighting the need for sustainable student living solutions.
BCD Group appoints Ashwinder R. Singh as VC and CEO to drive strategic expansion
BCD Group has appointed Ashwinder R. Singh as Vice Chairman and CEO, and Angad Singh Bedi as Chairman and Managing Director. With over 27 years of experience in the real estate industry, Singh aims to drive growth in residential and integrated township development while enhancing core competencies.
Office space leasing is expected to reach a record high in 2024
India's office market is poised for a record-breaking year, with leasing in the top eight cities expected to exceed 80 million square feet in 2024, marking a third consecutive year surpassing the 70 million square feet milestone. This growth is driven by high demand for premium spaces with strong ESG credentials and modern amenities, both from domestic and international companies.
Student housing company The Hive Hostels raises Rs 11.5 crore in pre-IPO funding
Luxury student housing firm The Hive Hostels, operating in over 10 Indian cities, has secured Rs 11.5 crore in pre-IPO funding. Key investors included Shriram Madhav Nene and Max Estates CEO Sahil Vachani. The funds will develop Aurus, a luxury extension, ahead of an IPO planned for next year.
Must Watch
Kangana Ranaut buys office property in Mumbai’s Andheri west
Bollywood actress Kangana Ranaut has bought an office property in Mumbai’s Andheri for over Rs 1.56 crore. The purchase involves a 407 sq ft space in a commercial project. Other Bollywood figures like Amitabh Bachchan and Shah Rukh Khan have also made significant real estate investments.
Regulations, data quality makes India top global improver in realty transparency
India is leading the global front in enhancing transparency, with expanded data coverage and improved data quality across various property sectors. The country is now ranked among the top ten global improvers and was the most improved in Asia Pacific in the 2024 rankings.
Naredco urges housing ministry to provide relief to real estate developers in NCR
NAREDCO appealed to the Ministry of Housing and Urban Affairs for rescheduling builders' land dues in Haryana and Uttar Pradesh. They requested a zero-period during COVID-19 years and extensions for project completions. The committee identified stalled projects and stressed units, emphasizing the need for relief to boost economic activity and housing delivery.
Elan Group gives Rs 500 cr contract to Leighton Asia to build mall in Gurugram
Elan Group has contracted Leighton Asia to develop a Rs 500 crore luxury shopping mall, Elan Imperial, in Gurugram. Scheduled to begin in November 2024, the project includes a retail mall, a five-star hotel, and residences. Elan previously awarded Leighton a Rs 1,000 crore contract for a different residential project in the same city.
Sameera Warehouster signs 2.6 lakh sq ft warehousing facility with automotive firm
Sameera Warehouster is developing a 2.6 lakh sq. ft. warehousing facility on the Bangalore-Chennai highway, starting with a 1.01 lakh sq. ft. built-to-suit (BTS) warehouse in Ennathur for an automobile component manufacturer. The project aims to enhance operational efficiency and support business growth.
NeoLiv enters into joint development agreement with Royal Green Realty to develop a township in Sonepat
NeoLiv, founded by former Godrej Properties CEO Mohit Malhotra, joined forces with Royal Green Realty to develop a 20-acre township in Sonepat. With SEBI's approval, NeoLiv aims to raise $150 million for projects in Delhi and Mumbai. The company plans ten projects over 3-4 years, involving premium residential spaces.
