Property registrations in Mumbai in June rose over 12 per cent on year but fell 3.6 per cent sequentially with around 11570 units being registered in the financial capital, the biggest property market in India. The state government earned more than ₹1000 crore in revenue from the registrations, data on…
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Fall in home sales and office leasing in Q2 not indicative of slowdown, say property consultants
Two sets of data that came out last week on the real estate sector showed some indications of a slowdown in demand, both in homes sales and office leasing though property analysts put it down to a temporary blip rather than a trend. Higher homes prices could be hurting residential…
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Tamil Nadu’s SIPCOT aims to provide sustainable housing for industrial workers
State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has formed a Special Purpose Vehicle – Tamil Nadu Industrial Housing Private Limited (TNIHPL) – and jointly with Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC) aims to provide affordable and sustainable housing for industrial workers. TNIHPL is developing an 807-bedded working women’s…
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Smartworks raises ₹168 crore from Keppel, Plutus Capital and others
Managed workspace platform Smartworks has raised ₹168 crore this year from investors, including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and certain high networth individuals in private funding rounds. The promoters continue to hold majority shareholding in the company. Keppel., Mahima Stocks Pvt Ltd and Deutsche Bank…
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Godrej Capital to enter affordable home loan segment this year
Godrej Capital, the lending arm of the Godrej Industries group, is planning to enter the affordable housing loan segment even as the total assets under its management are seen growing 59-68 per cent to ₹17,000-18000 crore in the current fiscal. “This year, we will be incubating the affordable housing business,”…
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Mumbai, Bengaluru drive office leasing in H1; Chennai, Pune, Delhi see dips
The first half of 2024 saw office leasing of 29.4 million square feet, driven by demand mainly in Mumbai and Bengaluru, buoying hopes that the year could end with absorption crossing 50 million square feet for the third year in a row. The two cities accounted for over half of…
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Market for business parks in Kolkata picked up in last couple of years: Harshavardhan Neotia
The market for business parks in Kolkata has picked up in the last couple of years and real estate major Ambuja Neotia Group has received a good response to its upcoming project in the city. The group, led by Harshavardhan Neotia, is currently developing a business park, christened as Ecospace…
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Sattva group, Bain Capital to float platform to build co-living assets
Bengaluru-based Sattva group is on the verge of signing an agreement with Bain Capital to set up a platform that would develop built-to-suit assets that will be managed by Colive, a coliving provider in which it has a majority stake, top officials of the real estate developer said. Both Bain…
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Century Textiles’ Birla Estates expands its presence in Pune
Birla Estates Pvt. Ltd., a wholly-owned subsidiary of Century Textiles and Industries, and the real estate venture of the Aditya Birla Group, has announced expanding its presence in Pune with a land acquisition in Manjri, Pune. The land parcel is spread across 16.5 acres with a development potential of approximately…
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Stakeholders red flag skyrocketing cost of office space in GIFT IFSC
Ahmedabad Stakeholders have red-flagged the rapidly rising prices of office spaces in GIFT City in Gujarat. The demand-supply mismatch — especially in GIFT IFSC — has seen rentals of office spaces skyrocket by 100 percent in the last three years. The cost of office spaces in GIFT IFSC currently stand…