COMMERCIAL REAL ESTATE
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is witnessing substantial growth in sales volumes, driven by stable economic conditions and continued confidence, even amidst higher mortgage rates. This uptrend is led by the top eight cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad, propelling the country’s residential real estate market to an 11-year high in sales volumes during the first half of the year.
What to expect from real estate and infra sector in upcoming Budget? Keki Mistry answers
Well, I think the focus will be on affordable housing in my opinion and there will some scheme or the other that will come up for the affordable housing segment.
Indian real estate witnesses $1.7 bn private equity inflow during H1 2024
Private equity investment in the Indian real estate sector reached USD 1.7 billion in the first half of 2024, marking a 42% increase year-on-year, as reported by Savills India. However, Q2 2024 saw investments of USD 1.1 billion, similar to the previous year's figures.
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Concorde acquires 1.6 acre land in Bengaluru
Concorde, a real estate developer based in Bengaluru, has purchased a 1.6-acre land parcel situated on Sarjapur Road in the city. This joint development project is slated to become a high-end residential complex with an estimated gross development value (GDV) of Rs 200 crore. Earlier in March, Concorde also acquired a 4.5-acre plot in Thanisandra, Bengaluru.
Amitabh Bachchan buys two luxury apartments in Mumbai’s Borivali suburb
The deal comes immediately after the veteran actor recently purchased three more office properties spread across three floors in a commercial project in Oshiwara locality of Mumbai’s western suburb of Andheri. Bachchan purchased apartments in Borivali worth nearly Rs 7 crores from Incline Realty, a subsidiary of Oberoi Realty. These apartments spread over 2,188 sq ft are located on the 57th floor of the tower, the same floor where his son Abhishek’s apartments are situated.
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Investing in commercial real estate: How to earn attractive regular income by investing in commercial real estate via fractional ownership platform
As fractional ownership gains traction and becomes increasingly popular, retail investors must run a few checks before investing in CRE assets via this route. Here are some factors that one must consider.
Big US banks withstand Fed's commercial real estate shock scenario
Amid economic uncertainties, the Federal Reserve's stress tests revealed big U.S. banks' resilience to a 40% drop in commercial real estate values. The tests underscored the challenges faced by regional banks and the need for robust risk assessment in the banking sector.
Affordable housing suffering; luxury continues to show bumper sales: Gulam Zia
Commercial real estate also is doing phenomenally well. If I have to give a few numbers, the last quarter and we saw almost about 14 to 15 million square feet of gross absorption of office space in the country, the top seven-eight markets that we always talk about.
Residential real estate at a 15-yr high; commercial may see best ever year: Anuj Puri
Clearly within the residential, we are seeing luxury doing exceptionally well, affordable unfortunately not doing as well and there is not that much supply that is coming in. But cities like MMR, Mumbai, Bangalore, NCR really leading the pack.
Sattva Group to invest Rs 12,000-14,000 crore in diversification over next three years
“The funding for the initiative will be structured with a combination of equity, debt and sales. Approximately 20% of the funding will be in equity, while the remainder will be sourced from debt and sales proceeds,” he told ET. “Our approach to debt is highly prudent and disciplined. The company's primary focus lies on commercial and residential projects, which form the bulk of our portfolio.”
Amitabh Bachchan buys more office properties in Mumbai Andheri suburb
Bollywood legend Amitabh Bachchan expands his Mumbai property portfolio with the purchase of three office spaces in Oshiwara for Rs 60 crore. This acquisition adds to his existing commercial holdings, with a focus on real estate investments alongside other industry figures.
Sumadhura Group eyes over 3-fold turnover growth to Rs 5,000 cr in 2024-25
South India-based real estate developer Sumadhura Group aims for a significant increase in turnover to Rs 5,000 crore by 2024-25, introducing a new logo and tagline "Foundation of Happiness" to reflect their growth strategy and commitment to providing diverse living experiences.
Daibiru creates Gift City fund with Hines, invests Rs 1,000 crore in Gurgaon building
Daibiru Corporation, a subsidiary of Mitsui O.S.K. Lines, has invested Rs 1,000 crore in an upcoming office complex in Gurgaon developed by DLF and Hines. This investment facilitated the exit of Abu Dhabi Investment Authority (ADIA), with Hines holding a 33% stake in the joint venture. The project, named Atrium Place, spans 2.88 million square feet across 11.76 acres and is slated for completion in 2025.
Commercial realty owned by single entity in demand
Investors in India's commercial real estate market favor single-owned properties for higher returns and operational efficiency. Abhishek Kiran Gupta, CEO and cofounder of CRE Matrix, emphasizes the quality difference between single-owned and strata-owned buildings, attributing it to centralised management and maintenance.
Brigade Enterprises to invest Rs 8,000 cr in Chennai by 2030 to build homes, offices, malls, hotels
Brigade also announced the launch of a new project, 'Brigade Icon Residences', which is part of a mixed-use development located in the heart of Chennai's historic Mount Road. The GDV will be over Rs 1,800 crore. In Chennai, Brigade Group has already completed over 5 million square feet across residential, office, hospitality and retail real estate. Its flagship project, World Trade Center Chennai, is over 90 per cent leased.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
Investors rejoice: Surakshit Nivesh Yojna (PDPMY Phase-2) launches at Delhi Mall Complex
Raheja Developers launches Surakshit Nivesh Yojna (PDPMY Phase-2) at Delhi Mall Complex, offering investment opportunities with shop sizes from 40-150 Sq. Ft. and special benefits for senior citizens and women.
Hyderabad housing market seeing significant trend towards luxury homes: NAREDCO President
The Hyderabad property market is witnessing a surge in demand for luxurious homes with spacious layouts and modern amenities. G Hari Babu, National President of National Real Estate Development Council, discussed rising property prices and evolving market dynamics. Factors include government policies, unlimited FAR, and infrastructure development, driving significant growth in both residential and commercial sectors.
GIC, Xander buy Allianz-Shapoorji Pallonji JV’s Hyderabad IT SEZ WaveRock for Rs 2,200 cr
In May 2023, ET first reported that global insurance and asset management major Allianz Group and Shapoorji Pallonji Group were looking to exit the IT Special Economic Zone (SEZ) property and that GIC had emerged as the frontrunner to acquire the 2.4-million-sq-ft asset.
Infra push, talent access helps satellite cities reshape India's commercial realty
India's commercial real estate landscape in satellite and tier II cities is undergoing significant transformation due to robust infrastructure development, strategic urban planning, talent availability, and lower cost of living. Cities like Navi Mumbai, Pune, Gurugram, Noida, and Hyderabad have seen extensive investment in road networks, metro connectivity, and digital infrastructure, making them attractive hubs for businesses.
Poonawalla Group to construct commercial tower in Pune's Bund Garden at Rs 1,750 crore
Poonawalla Towers spread across 8.75 lac square feet will have several amenities. The project's estimated valuation is in excess of Rs 1,750 crore, company claims
Dvok Buildcon buys 18-acre land in Gurgaon for Rs 310 crore
In terms of total land area, Bengaluru saw 14 deals for 490 acres transacted, the highest among all the top 7 cities. Land deals in the National Capital Region (NCR) have peaked due to urbanisation, infrastructure development, and investment opportunities driving demand for land.
Strata to apply for SM REITs license to broaden fractional ownership platform
Strata, India's top CRE investment platform, has applied for SM REITs license per SEBI regulations to migrate eligible assets and target Rs 2000 crore AUM by FY25. SEBI's 2023 FOP model for assets over Rs 50 crore expands opportunities, boosting investor trust. Strata aims to democratize CRE investment for retail investors.
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
Migsun group to invest Rs 500 crore across four projects in Greater Noida
Realty developer Migsun Group plans to invest Rs 500 crore in four mixed-use commercial projects covering 2 million sq ft, with RERA approval. Three projects are in Yamuna Expressway and one in Greater Noida, set for completion by 2028. Funding will come from company sources and customer advances, targeting the upcoming Jewar Airport to boost development. MD Yash Miglani asserts a commitment to bring international experiences to the Noida Expressway region. Additionally, the group has launched a mix-use project in Lucknow, investing Rs 426 crore on a 5-acre land parcel acquired from Medanta Group.
Strata Buys Puma HQ in Bengaluru for Rs 115.4 crore
Strata, a major Indian real estate investment platform, acquired 140,000 sq ft office space in Bengaluru for Rs 115.45 crore, housing Puma's headquarters. Sudarshan Lodha, CEO, confirmed the deal, marking Strata's eighth asset in Bengaluru and crossing Rs 410 crore in Karnataka transactions. The company eyes more acquisitions to expand nationwide.
Brookfield India REIT set to buy Bharti’s nearly 50% stake in realty JV
Last year, Brookfield Asset Management had closed the transaction picking up around 50% stake in Bharti Enterprises’ four commercial properties in Delhi-NCR. Following this deal, Canadian institutional investor Brookfield’s listed REIT in India and Brookfield Asset Management will together own the joint venture known as Rostrum Realty.
BCD Group plans to furnish 3 million square feet of real estate in 5 years through interior designing
BCD Group has launched Casadilusso to provide interior design services, aiming to offer end-to-end solutions for real estate developers and home buyers. This move aligns with the trend of integrated contractors and aims to tap into the growing interior design industry in India, driven by the expanding real estate sector. The company plans to furnish 3 million square feet of real estate over the next five years and expects the design arm to contribute significantly to its total revenues in the coming years.
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