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India's tier II-III cities are expected to drive the next cycle of growth in the housing market as demand in big cities has been affected due to a surge in home prices post-COVID pandemic, according to Square Yards. Real estate consultant Square Yards has come out with a report 'India's Next Real Estate Growth Cycle: The Rise of Tier-2 and Tier-3 Cities', which pointed out that affordability to buy homes across major cities have been impacted badly because of a huge price rally during 2022-24. Limited new supply of affordable and mid-income homes in the seven major cities -- Mumbai Metropolitan Region, Pune, Bengaluru, Delhi-NCR, Hyderabad, Chennai and Kolkata -- has made matters worse. "India's residential market is entering a structurally distinct phase. The post-pandemic premium cycle that powered accelerated price appreciation across metro markets is now showing signs of stabilisation," the report pointed out. In several tier-1 corridors, Square Yards said, the price growth has
Realty firm Brigade Enterprises Ltd will develop a 25-acre industrial park in Bengaluru to meet rising demand. In a regulatory filing, Bengaluru-based Brigade said it has forayed into industrial real estate, with the launch of 'Brigade Industrial Park', a 25-acre industrial development in Devanahalli, North Bengaluru. The park would offer around 2 million square feet of leasable space and will cater to the high-growth industrial sectors of the region, including aerospace and defence, IT/ITES, and data centres. The company did not disclose the investment to build this park. In a separate filing, Brigade said its group company BuzzWorks, which provides managed office space, has leased 550 seats in Hyderabad to Dublin-based MyComplianceOffice (MCO), a global regulatory technology (RegTech) and compliance technology company. With this signing, BuzzWorks' total leased office space in Hyderabad currently stands at 1.1 lakh sq ft. Established in 1986, Brigade Group is one of the leading
Realty firm Omaxe Ltd has sold 173 luxury homes in its new project at Faridabad, Haryana for around Rs 800 crore amid strong demand. The Delhi-based listed real estate company also sold 120 commercial units in Faridabad for Rs 160 crore. In a statement on Saturday, Omaxe informed that the company has sold all residential and commercial units at its two newly-launched projects 'Omaxe Residences' and 'The Grand Europe' in the city. The company recently launched and sold 173 residential units for about Rs 800 crore. That apart, Omaxe launched and sold 120 SCO ( shop-cum-office) units for Rs 160 crore. These two projects, slated to be delivered in 2030, are part of its integrated mixed-use township 'World Street by Omaxe'. "Faridabad has a high concentration of successful individuals but has long lacked an ultra-luxury residential and commercial ecosystem that mirrors global standards," Mohit Goel, Managing Director of Omaxe, said. He said the company intends to fill this demand-sup