News

The Jawaharlal Nehru Port Authority (JNPA) earned Rs 426 crore by leasing 14 properties, comprising 42 hectares, in its Uran Taluka, Raigad district Special Economic Zone (SEZ). This e-auction promotes industrial expansion and marks JNPA's revenue milestone.

Bharat Mart, India's first UAE warehouse, will open in 2025. Similar to China's Dragon Mart, this programme allows Indian exporters to promote their goods. According to plans, Bharat Mart would span 100,000 square metres and include warehouses, retail, and accommodation.

HSBC rates Prestige Estates and Sobha 'buy' in Mumbai, DLF and Godrej Properties 'hold', and Oberoi Realty'reduce'. The brokerage company raised its share price predictions for several firms, indicating that interest rate swings and new projects would likely affect their profitability.

India's Office Market Leadership in APAC. India may dominate Asia Pacific office space demand by 2024. Over half of regional demand is projected from the top eight Indian cities, including Bengaluru, Mumbai, and Delhi.

Crompton Greaves, CG Power & Industrial Solutions, and K Raheja Corp. are redeveloping CG House, its headquarters in affluent Worli. Over an acre of leasehold land is used for electricity production, transmission, distribution and rail transportation.

Suraj Estate Developers, situated in Mumbai, plans to raise 400 crore via a main market share sale. The residential and commercial firm plans to use ₹285 crore for debt payments for both itself and its subsidiaries. The corporation would also spend 35 crore on property or land development rights.

Prestige Group, headquartered in Bangalore, launched its first residential property in Calicut, "Prestige Ocean Pearl." This project will redefine luxury living in Calicut, giving a peaceful respite from city life.

Cognizant Technologies, a major software corporation, is moving towards asset-lightness. The company will sell its large Hyderabad and Chennai offices. Cognizant's approach is to concentrate on non-core real estate and simplify operations.

GIFT City's second phase, comprising town planning concepts, is anticipated after state government evaluation and public comment. This phase intends to strengthen GIFT City's global financial hub status.

Despite rising interest rates over the last 18 months, asset quality has improved in the Indian home financing market. Rising incomes have offset greater monthly payments, ensuring stability.

The state-owned Indian Bank sold ₹610 crore in bad loans to simplify its financial portfolio. The bank plans to straighten up its accounts by the end of the year. Real estate and international trade debts are sold.

Mumbai's office property market has set a new Indian lease rental record. The Toronto-Dominion (TD) Bank extended its India headquarters lease at Maker Maxity in the Bandra-Kurla Complex (BKC) for an astounding Rs 604 per sq ft per month.

India Shelter Finance Corporation (ISFC), based in Haryana, is planning to increase its capital by raising ₹800 crore through new shares and ₹400 crore by selling some shares currently held by its investors.

The Reserve Bank of India's fifth straight repo rate hold at 6.5% is likely to boost the Indian property industry, especially Mumbai house sales.

Wave City in Ghaziabad added Tower H to its residential project 'Eligo'. This newest extension provides luxury living with most apartments overlooking the park.