27 Jan 2025

Leading companies including Adani Ports, DP World, and Vedanta have expressed interest in the INR 7,056 crore Thoothukudi outer harbour project following revisions to the Viability Gap Funding (VGF) cap, now set at INR 1,950 crore. The project, re-tendered after initial low response, involves dredging, reclamation, and breakwater construction under a DBFOT model to develop two container terminals with a combined 4 million TEU capacity. Phase one, costing INR 4,494 crore, will develop berths I and II, followed by phase two at INR 2,561 crore for berths III and IV. Improved eligibility criteria and financial incentives aim to attract more bidders, with rail-road linkages planned to enhance connectivity.Read more

24 Jan 2025

Bollywood actor Shahid Kapoor has leased his 1,400 sq. ft. apartment in Versova's Cozy Apartments for INR 75,000 per month, with a planned rent increase to INR 78,750 after the first year. The lease, registered in January 2025, includes a security deposit of INR 2,25,000. This move underscores the growing trend among celebrities to diversify their income through real estate investments. Versova's popularity and rising property values make it an attractive rental hub. As Mumbai's demand for rental properties surges, Kapoor's decision highlights the strategic financial planning many actors are adopting to secure long-term returns.Read more

24 Jan 2025

The completion of the Kasarwadavli-Gaimukh Metro 4A route has been postponed to April 2025, extending the timeline by over a year and increasing project costs to INR 503 crore from the initial INR 440 crore. The delay, attributed to undisclosed challenges, has caused significant traffic congestion on Ghodbunder Road, raising concerns among commuters and activists. The 2.7 km metro stretch is part of the larger 56 km corridor connecting CSMT to Mira Road. As residents await updates, the MMRDA faces pressure to enhance transparency and accelerate work to minimize further disruptions and economic impacts.Read more

24 Jan 2025

The Maharashtra government has granted a Commencement Certificate (CC) for the Dharavi redevelopment project, allowing the Adani Group-led consortium to begin construction on a 6.4-acre railway land parcel in Matunga West. This marks the start of the USD 3 billion initiative covering nearly 600 acres, aimed at providing modern housing and commercial spaces for over a million residents. The project, expected to be completed in seven years, involves international partners like Sasaki, Buro Happold, and Hafeez Contractor. With a focus on infrastructure and community development, it promises to set a precedent for urban renewal efforts in India and beyond.Read more

23 Jan 2025

Sidhant Real Estate, led by DLF chairman Rajiv Singh and his family, has purchased a bungalow on Prithviraj Road in Lutyens' Delhi for INR 150 crore. The seller, Rangoli Resorts, directed by Sheela Foam executive chairman Rahul Gautam and his family, also bought a bungalow on Hailey Road for INR 165 crore. Stamp duty payments for these high-value transactions were recorded at INR 10.5 crore and INR 11.55 crore, respectively. The deals, registered last year, reflect the continued demand for ultra-luxury real estate in New Delhi's prime locations.Read more

23 Jan 2025

Bollywood actor Hrithik Roshan has leased a 2,727 sq ft commercial property in Mumbai's Lotus Corporate Park, Goregaon, for INR 5.62 lakh per month. This deal underscores the growing demand for premium office spaces in strategic business hubs. In a separate transaction, playback singer Stebin Ben purchased a luxurious duplex apartment in Bandra's Iconic 7 Co-op Housing Society for INR 6.67 crore, reflecting the sustained appeal of upscale residential properties in Mumbai's prime localities. These high-profile transactions highlight key trends in Mumbai's real estate market, with rising interest in both modern commercial spaces and luxury homes in sought-after areas.Read more

23 Jan 2025

Apple Inc. has leased 6,526 sq. ft. of office space in Mumbai's Bandra-Kurla Complex (BKC) at a record-breaking INR 738 per sq. ft., the highest office rental rate in India. The deal, registered in December 2024, includes an additional 2,126 sq. ft. of terrace space, bringing the effective rate to INR 666 per sq. ft. This move highlights Apple's growing focus on India, following its flagship store launches in 2023. The expansion aligns with India's booming office market, which saw a 23% rise in gross leasing in 2024, reinforcing Mumbai's status as a prime business hub.Read more

22 Jan 2025

Adani Road Transport has become the highest bidder for the National Highways Authority of India's (NHAI) 15th bundle of highway assets under the Toll Operate Transfer (ToT) model, with a bid of INR 1,692 crore. The 124-kilometre stretch, comprising highways in Tamil Nadu, is part of NHAI's broader monetisation strategy, aiming to generate INR 54,000 crore this fiscal year. NHAI has already crossed INR 1 trillion in asset monetisation under the National Monetisation Plan, showcasing its focus on alternate financing strategies amidst debt repayment efforts.Read more

Arun Nair

22 Jan 2025

The Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) has reshaped the real estate landscape in Hyderabad by aggressively addressing illegal constructions and encroachments. With actions such as demolitions on lake buffer zones, unauthorised high-rises, and encroached public assets, HYDRAA has reclaimed nearly 200 acres and resolved thousands of complaints. While the initiative has brought regulatory rigour, it has also heightened awareness among property buyers, prompting them to demand transparent legal documentation. Real estate developers have adjusted strategies to comply with regulations. However, HYDRAA's stringent measures have also sparked debates about their scientific rationale and implementation. While challenges remain, HYDRAA's mission reflects a commitment to building a future where Hyderabad grows responsibly and sustainably.Read more

22 Jan 2025

Amitabh Bachchan has sold his duplex apartment in Mumbai's Oshiwara for INR 83 crore, marking a 168% appreciation from his 2021 purchase price of INR 31 crore. The luxurious 5,186 sq. ft. property, part of Crystal Group's The Atlantis, was previously rented to actress Kriti Sanon. Bachchan's real estate investments span luxury residences and commercial spaces, including recent acquisitions in Borivali, Alibaug, and Ayodhya. His strategic investments, including leasing commercial units to Warner Music India, reflect a well-planned approach to maximizing returns in Mumbai's booming luxury real estate market, further cementing his role as a savvy property investor.Read more