PROPSTACK
Unity Small Finance Bank inks pact to acquire office space worth Rs 393 crore
The developer of the Santacruz project received a letter of intimation (LOI) and approval from the Slum Rehabilitation Authority for the project in August 2023. It has also acquired additional land adjacent to the existing plot and is expected to apply for an amended LOI and approvals to include the additional land too.
Realty sector sees debt sanctions of Rs 9.63 lakh crore during 2018-23
Real estate sector witnessed debt sanctions of ₹9.63 lakh crore during 2018-23, with a potential of ₹14 lakh crore in the next three years, per JLL India and Propstack report.
Indian realty surge drives debt financing demand, to top Rs 14 lakh cr by 2026: Report
The real estate market in Mumbai is experiencing a resurgence driven by government policies, urbanization, and economic recovery, leading to increased demand for financing. The sector is expected to create debt financing opportunities worth over Rs 14 lakh crores by 2026, with lenders seeing opportunities for growth and innovation in funding structures.
IMC India leases office in Mumbai’s BKC at Rs 700 per sq ft/month for short tenure
The company has leased nearly 43,000 sq ft office space on the 34th floor of sea-view premium commercial tower Altimus in central Mumbai for a long-term tenure of 10 years at monthly rental of Rs 350 per sq ft.
UK Consulate buys nearly 15,000 sq ft office in Mumbai’s Lower Parel
The UK Consulate has acquired the office space spread across a total 12 units on the 19th floor of the tower from Lodha Group’s listed entity Macrotech Developers.
Godrej & Boyce sells 58,500 sq ft office space in Mumbai’s Vikhroli to Godrej Industries
The office space on the 9th floor has already been leased to managed flexible workspace provider Simpliwork Offices for a period of 60 months until March 31, 2026. This lease will also be transferred to Godrej industries as the new landlord, showed the documents accessed through Propstack.
Narayana Health acquires 1.2 acres in Bengaluru for Rs 169 crore
Narayana Health acquires 1.2 acres of Bengaluru land for Rs 169 crore, as per Propstack data. The property, in Begur Hobli, south Bengaluru, was sold by Venture Projects Bangalore Pvt Ltd. Founded by heart surgeon Devi Shetty, Narayana Health operates 18 hospitals in India and abroad. Bengaluru sees rising luxury property transactions amid growing wealth.
Microsoft buys land in Hyderabad for Rs 267 cr to build data centre
Microsoft has acquired 48 acres of land in Hyderabad for a deal worth around '267 crore. The property, located about forty kilometers from Hyderabad, is part of Microsoft's plans to expand its data centre business. The acquisition adds to its existing network of three data centre regions in India, Pune, Mumbai, and Chennai. Microsoft currently operates an India Development Centre (IDC) in Hyderabad, which has been instrumental in the development of its technological offerings.
Kishore Biyani settles lenders’ dues by selling SOBO mall to K Raheja Corp
The settlement was backed by realty developer K Raheja Corp., which acquired SOBO Central Mall. Earlier known as Crossroads, SOBO Central is the country’s first mall, having opened in late 1990s in south Mumbai's Haji Ali locality.
Bhive Workspace leases office space in Adani’s tower in Mumbai’s Bandra-Kurla Complex
The company is planning to use the space leased through two separate agreements to set up managed coworking offices. Bhive’s holding company Tusker Workspace has entered into this lease agreement with Adani subsidiary Sunbourne Developers.
Table Space Technologies leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru
Table Space Technologies has leased over one lakh square feet in the Cafe Coffee Day Square Property in Bengaluru as its erstwhile corporate headquarter and flagship store. The lease term is 60 months with a lock-in period and commands a rental of Rs 175 per square foot.
Strata acquires Bengaluru’s Iconic Café Coffee Day headquarters
The Cafe Coffee Day Square has a total built-up area of over 100,000 sq ft, and each floor measures approximately 9,000 sq. ft, according to a registered document shared by Propstack, a data analytic firm.
Amitabh Bachchan leases 4 offices in Mumbai’s Andheri to Warner Music India
The tenant will be paying total rentals of over Rs 11 crore through the entire lease tenure. The lease will be operative starting from March 2024. ET had reported in September that Bachchan bought these four offices totalling over 12,000 sq ft built up and 10,800 sq ft carpet area for nearly Rs 29 crore. The tenant will be paying monthly rentals of Rs 170 per sq ft for the first three years and the lease agreement includes a clause to escalate rentals by 15% thereafter for the next two years taking it to Rs 195.50 per sq ft per month, showed documents accessed through Propstack.
ICICI Securities leases office in Mindspace Juinagar for 12 years
The deal was registered on December 15 and the lease tenure will commence from January 1, 2024, shows documents accessed through Propstack. The company has paid an upfront deposit, equivalent to 12 months' rent, of over Rs 11 crore for the transaction that also provides ICICI Securities exclusive access to 190 car parking slots in the commercial tower.
Embassy Industrial Parks completes acquisition of 124 acres on Bengaluru outskirts
The land, acquired by Embassy Industrial Park Hosur, is in the Nelamangala taluk. The registration and sale deed were completed in October, shows a document shared by real estate data analytic firm Propstack.
20Cube Logistics leases 5.40-lakh-sq-ft warehouse in Bhiwandi near Mumbai
The company will be paying rentals of Rs 84.75 lakh per month in the first year of the lease and the agreement includes a clause to escalate the amount by 4.5% every year. The lease tenure will start from June this year and come to an end in May 2028. The licensor will grant 20Cube Logistics Solutions a rent-free period of five months.
Singer Sonu Nigam buys 2 offices in Mumbai’s Andheri for Rs 11.37 crore
These offices are part of the free-sale component of a redevelopment project on Veera Desai Road in Andheri (west) being undertaken by Saroj Landmark Realty LLP. The deals for both the offices were registered on March 15, showed the documents accessed through real estate data analytics firm Propstack.
Amazon leases over 6 lakh sq ft of office space in Bengaluru
The deal follows two large transactions Amazon recently signed, acquiring more than 800,000 square feet of space in Gurgaon and Hyderabad for web services, development centres, seller services, and transportation services. The transaction comes as a breather for commercial real estate, with many corporations slowing down large transactions due to global uncertainties.
Strata plans to expand its AUM by about 50% to Rs 1,500 crore by next fiscal year's end
“India remains in a strong position while other countries are going into a recession. We are focusing on manufacturing and industrial (sectors) to drive growth as many retail investors are looking to park capital in this segment. We are adding Rs 1 crore to our AUM every day this calendar year,” said cofounder and chief executive Sudarshan Lodha.
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