News

For its cluster development initiative in Mumbai, the Maharashtra government has given a one-year premium waiver for real estate developers at the rate of 50 percent. The action will likely facilitate the revitalization of older buildings in the city.

The Indian division of U.S.-based Cognizant Technology Solutions has renewed two lease agreements for over 627,500 square feet of office space in the Hinjewadi Rajiv Gandhi IT Park in Pune.

Roche's India subsidiary has leased more than 200,000 square feet of office space from Brookfield Properties' commercial complex in Pune's Baner neighbourhood, according to sources with firsthand knowledge of the transaction.

After 13 rounds of bidding, Ahmedabad's Sankalp Recreation, Kolkata's Shri Ram Multicom, and Mumbai's Rare Asset Reconstruction Co are the sole bidders for Rajesh Life Spaces' bankrupt hotel property.

Shriram Properties Limited (SPL) of Bengaluru has acquired development rights for 1.9 million square feet for a residential project in Chennai from Garden City Developers in a transaction valued at approximately Rs 185 crore.

Oberoi Realty is in discussions with Marriott and Hyatt about taking over management and operations of the hotel.

According to GROHE-HURUN India, DLF Chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a net worth of INR 59,030 crore.

This week, the Mhada Mumbai Board will begin collecting applications for its impending lottery for 4,083 apartments and tenements. The application deadline is June 26, 2023, and the draw is scheduled for July 18, 2023.

The Adani Group is investigating the possibility of monetising portions of its real estate holdings that have been identified as non-core to its operations, according to two individuals with direct knowledge of the situation

As per news sources, Singapore's sovereign wealth fund GIC is evaluating a 1.5 trillion rupee (INR) investment in IRB Infrastructure Trust, an infrastructure investment trust (InvIT) sponsored by the construction company IRB Infrastructure Developers.

Brookfield India Real Estate Investment Trust (REIT) and Singapore's sovereign wealth fund GIC have formed an equal partnership to acquire two large commercial properties totaling 6.5 million square feet from Brookfield Asset Management's private real estate funds.

Amazon Development Centre India has renewed its lease for a Chennai office facility of approximately 50,000 square feet.

Trident Group of Delhi has acquired Shipra Mall in Indirapuram, Ghaziabad, NCR from Indiabulls Housing Finance Ltd and Edelweiss Asset Reconstruction Company Ltd for Rs. 551 Crores.

In FY23, the demand for coworking spaces surpassed all previous records, with India's IT hubs leading the pack. Latest real estate data shows that leasing of "flex-seats" has increased by 20%, with the biggest activity occurring in Bengaluru, Hyderabad, and Pune.

Godrej Properties, a major player in the Indian real estate market, plans to buy a number of plots of land this fiscal year