01 Oct 2024

Rising Sun Holdings, co-owned by Adar Cyrus Poonawalla, has acquired approximately 2.20 lakh sq ft of office space across four floors in Pune's Cerebrum IT Park for a total of INR 395 crore. The seller, Zawareh Soli Poonawalla, facilitated the sale through four separate transactions. This significant investment aligns with Rising Sun Holdings' strategy to expand its presence in India's commercial real estate sector. The company has also diversified into hospitality and other high-value real estate segments, reinforcing its role as a major player in the market despite global economic challenges.Read more

01 Oct 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a significant loan of INR 31,673.79 crores from Power Finance Corporation (PFC) to finance nine key infrastructure projects. This funding will cover 80% of the total project costs and includes initiatives such as the Thane Coastal Road, the Eastern Freeway extension, and multiple elevated roads and bridges. These developments aim to improve connectivity and enhance the quality of life in MMR, transforming its transportation landscape.Read more

30 Sep 2024

CREDAI-MCHI congratulated Maharashtra Chief Minister Shri Eknath Shinde on receiving the 2nd World Agriculture Prize for his contributions to environmental protection and sustainable development. The organization emphasized its support for initiatives that foster socio-economic growth and a greener Maharashtra. CREDAI-MCHI President Domnic Romell highlighted the alignment of sustainable agriculture with real estate goals, while Secretary Dhaval Ajmera praised the Chief Minister's commitment to farmers. The event featured discussions on global food security, showcasing collaboration between government and private sectors in promoting sustainable practices.Read more

30 Sep 2024

NITI Aayog has introduced an ambitious master plan to transform the Mumbai Metropolitan Region (MMR) into a global economic hub. The proposal includes developing 10 planned cities, 2 tourism hubs, and 7 business districts, focusing on rehabilitating 2.2 million slum households into affordable housing. The plan identifies seven core industries to drive growth and aims to enhance tourism significantly. Infrastructure improvements will include substantial office, hotel, and warehousing space, as well as new educational and healthcare facilities.Read more

30 Sep 2024

All flats offered by the Delhi Development Authority (DDA) in Rohini have been sold out, including over 700 Lower Income Group (LIG) units from the Sasta Ghar Housing Scheme 2024. The auction, which started on September 10, saw more than 1,100 flats sold on the first day. The DDA has introduced three housing schemes, including the Sasta Ghar, Madhyam Vargiya, and Dwarka Housing Schemes, providing a range of flats at competitive prices. The Madhyam Vargiya scheme offers approximately 5,400 flats starting at INR 29 lakh, while the Dwarka scheme includes 173 premium flats available through e-auction.Read more

30 Sep 2024

Casper Realty, a subsidiary of Phoenix Mills (PML), has acquired two prime land parcels in Mohali, Punjab, for INR 891 crore. Spanning over 13.14 acres and auctioned by the Greater Mohali Area Development Authority (GMADA), these plots are designated for commercial use. Managing director Shishir Shrivastava stated the company plans to develop a retail-led mixed-use destination, featuring retail spaces, cinemas, dining options, commercial offices, and hotels. This expansion aligns with PML's strategy, enhancing its extensive retail portfolio and contributing to Mohali's economic growth and urban development.Read more

27 Sep 2024

The 158th MMRDA meeting, chaired by Chief Minister Eknath Shinde, focused on enhancing connectivity and infrastructure in the Mumbai Metropolitan Region. Key decisions included the revision of the Backbay Reclamation development plan, which prioritizes residential and commercial zoning while preserving natural features. Additionally, an access-controlled highway was approved to improve travel times between key areas, along with the establishment of a Project Implementation Unit for the Economic Master Plan. These initiatives aim to bolster Mumbai's status as a global economic hub.Read more

27 Sep 2024

Utpal Sheth, CEO of Rare Enterprises, recently purchased a luxury sea-view apartment in Mumbai's upscale Worli area for over INR 123 crore. The apartment, located on the 54th floor of Oberoi Three Sixty West, offers 15,795 square feet of space, including a large balcony. The deal, registered earlier this week, involved a stamp duty of around INR 7.40 crore. Mumbai's real estate market continues to thrive, with record-high sales in 2023, led by South and Central Mumbai's high-value transactions involving prominent business leaders and celebrities.Read more

27 Sep 2024

Morgan Stanley has consolidated its Mumbai Global In-house Centre operations into a single campus at Oberoi Commerz III, marking a significant investment in the region. With a lease covering 1.1 million sq. ft. and a rental payout exceeding INR 2,122 crore over nearly ten years, this move underscores the firm's commitment to India. The expansion aligns with a broader trend of multinational companies growing their global insourcing centres in India, reflecting the country's robust talent pool. Despite global economic uncertainties, India's office sector continues to thrive, achieving record leasing figures in recent months.Read more

26 Sep 2024

KA Enterprises LLP, owned by Bollywood star Deepika Padukone and her father, Prakash Padukone, has made a notable entry into the real estate market with the purchase of a luxury apartment in Mumbai's Bandra West for about INR 17.78 crore. This property, situated in the sought-after Sagar Resham Co-operative Housing Society near Bandstand, spans approximately 1,846 square feet and includes a designated parking space. In a related transaction, Deepika's mother-in-law, Anju Bhavnani, acquired an adjacent apartment for around INR 19.13 crore. This growing trend of celebrity investments in Bandra West includes notable figures like Aamir Khan, Tripti Dimri, K.L. Rahul, and Athiya Shetty, highlighting the area's appeal as a prime residential hotspot.Read more