News

Chandigarh-based Proptech Start-up POPT Secures Funding From MRW Ventures and Riar Holdings USD 2 million Valuation

Arvind SmartSpaces, the Lalbhai Group's property development arm, has bought a 35-acre land piece in Pune for Rs 100 crore to create its second residential project.

The subsidiary of Japan’s Kansai Paint has purchased a whole ground floor of commercial office space spread across 35,000 sq ft in real estate developer Marathon Group’s commercial real estate project in Lower Parel called Marathon Futurex on Delisle Road.

DLF Ltd reported a 15% decline in overall net profit to Rs 379.49 crore for the December 2021 quarter, but nearly quadrupled sales bookings to Rs 2,018 crore due to high demand for its premium houses.

According to informed sources, Embassy Office Parks REIT would invest close to Rs 900 crore to create nearly two million square feet of office space in Bengaluru's Embassy Tech Village. This development is being spearheaded by Embassy Office Parks REIT.

Global tech giant Google plans to establish a new office in Pune enabling it to employ cloud product engineering, technical support, and global delivery centre teams in the second half of 2022. This is a significant real estate deal and an important development for Pune real estate.

The HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3) is one of the largest funds formed in India to invest in residential real estate, with investors pledging more than USD 1.22 billion toward the first closing of the first tranche.

National Standard India's shares, which are controlled by the Lodha Group, plummeted 5% on 27th January 2022, the day's lowest price. This was because the company was going to merge with the Lodha Group's main business, Macrotech Developers.

Embassy Office Parks REIT Acquires ROFO (Right of First Offer) For a Property in Chennai

How will the Juhu real estate market get affected with AAI reintroducing height restrictions and the stalling of redevelopment of certain Buildings Near Juhu Airport?

The Yamuna Expressway Authority's residential plot programme, announced in December last year near the impending Jewar airport, concluded on January 24 after receiving more than 30 times the response.

In the three months ending December 2021, Macrotech Developers recorded a 24% rise in consolidated net profit to Rs 286.38 crore. According to a regulatory filing, the real estate development company's net profit in the prior year was Rs 231.71 crore.

Lodha Group, one of India' leading real estate developer, recently stated that it secured pre-sales of Rs. 4500 crore in the October-December quarter of 2021, including Rs. 2,608 crore from projects in India and £191 million or Rs. 1900 crore from projects in the United Kingdom.

Google has paid USD1 billion for a colorful office space in London while it waits for construction of its long-delayed U.K. headquarters to be completed.

This is surely good news for commercial real estate in India. According to prominent real estate companies, office gross absorption in India's top six cities was over 33 million square feet, a 10% increase over 2020.