Page 39 - Real Estate

Luxury penthouses back in vogue on uber-rich Indians' growing appetite

Space, privacy, prestige selling points for buyers

Affordable housing launches to remain muted despite rate cuts, tax benefits

While demand for sub ₹50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors

IL&FS moves NCLT to scrap Brookfield's Rs 1,080-cr bid for BKC property

The Infrastructure Leasing and Financial Services Ltd (IL&FS) has approached the National Company Law Tribunal (NCLT) to scrap the Canadian asset management firm Brookfield's Rs 1,080-crore bid for its flagship Bandra Kurla Complex property. IL&FS filed a petition in NCLT Mumbai bench on June 26, seeking to dismiss the Brookfield-backed bid for its flagship BKC property, the IL&FS Financial Centre (TIFC), citing bidder disqualification and non-compliance with bidding conditions. In its petition, IL&FS alleged that an affiliate of Brookfield, Chronos Properties, was required to maintain Performance Guarantee until the execution of definitive agreements. Chronos Properties failed to renew a Rs 108-crore Performance Guarantee, which expired in April, 2025, IL&FS said in the petition, adding that this entitles IL&FS to invoke the performance guarantees in addition to pursue remedies including disqualifying the bidder. "The failure to maintain its bid security has ..

Housing sales dip 2% but office leasing jumps 41% in H1 2025: Knight Frank

India's top eight property markets saw a 2 per cent decline in housing sales during the January-June period, but office space leasing rose 41 per cent, according to Knight Frank. In a webinar on Thursday, real estate consultant Knight Frank released its data for the Indian real estate market for January-June 2025. The data showed that housing sales fell 2 per cent annually to 1,70,201 units during the first six months of this calendar year across eight major cities. In contrast, the leasing of office spaces rose 41 per cent to 48.9 million (489 lakh) square feet area during January-June 2025. The gross leasing stood at a record 71.9 million square feet for the entire 2024. Considering the strong performance during the first half, the consultant expects the leasing number to scale a new high of 80-90 million square feet in the full current year. In the residential segment, the consultant noted that the weighted average price across eight cities rose in a range of 2 per cent to 14

Institutional investments in real estate decline 33% in Q2 CY25: Report

Domestic institutions step up as foreign inflows fall amid evolving macroeconomic scenario, credit flow and inflationary pressures

Institutional investment in real estate dips 33% in Apr-Jun: Colliers

Institutional investment in Indian real estate fell 33 per cent to USD 1.69 billion in April-June as foreign investors were cautious in view of global political and economic uncertainties, according to Colliers India. Real estate consultant Colliers India data showed that Institutional investments in real estate fell to USD 1,691.20 million (USD 1.69 billion) during April-June this year from USD 2,533.30 million (USD 2.53 billion) in the year-ago period. The fund inflow from foreign investors almost halved to USD 1048.4 million, from USD 2,046.80 million during the period under review. Domestic investors remained bullish and pumped in USD 642.8 million during April-June, an increase of 32 per cent from USD 486.5 million in the corresponding period of the preceding year. "Domestic capital has emerged as a key driver in India's real estate investments, with its share in total investments rising steadily from 16 per cent in 2021 to 34 per cent in 2024," Colliers India CEO Badal Yagnik

Office space demand from GCCs up 24% at 31.8 mn sq ft in FY25: Vestian

Leasing of office spaces to set up Global Capability Centres (GCCs) increased by 24 per cent last fiscal to 31.8 million square feet across seven major cities, according to a report. Data from real estate consultant Vestian showed that the leasing of office space to establish GCCs stood at 31.8 million (318 lakh) square feet in 2024-25 as against 25.6 million (256 lakh) square feet in the preceding year. "Over the past couple of years, GCCs have been the primary growth driver of India's office market. This growth has been fueled by cost optimization strategies, a skilled talent pool, rapid infrastructure development, favourable government policies, ease of doing business, and a supportive business environment," Vestian said in a statement on Wednesday. As per the Vestian's report, GCCs accounted for 42 per cent of the pan-India absorption in 2024-25, registering a marginal increase from 41 per cent a year earlier. Shrinivas Rao, CEO of Vestian said, "GCCs contribute significantly t

Keystone Realtors chosen for ₹3K cr cluster redevelopment project in Mumbai

Five DAs signed and three LoIs in place for 4.75-acre cluster project in Lokhandwala, giving Rustomjee 10.6 lakh sq ft saleable area in key Mumbai residential zone

Keystone Realtors target ₹3,000 cr revenue with redevelopment projects

Keystone Realtors Ltd has been selected to redevelop eight housing societies in Mumbai, enabling the company to generate revenue of Rs 3,000 crore from the saleable area. Mumbai-based Keystone Realtors sells properties under Rustomjee brand. In a regulatory filing on Wednesday, Keystone Realtors informed that "it has been selected by eight housing societies as the developer for the large-scale cluster redevelopment project in the highly sought after residential neighbourhood of Andheri West, Mumbai." The Development Agreement (DA) has already been executed with five societies, while LOIs have been received from the remaining three societies, with DA execution expected over the next few days. "The project involves the redevelopment of a cluster of private housing societies located in the heart of Andheri's vibrant residential hub, with a cumulative plot area of approximately 4.75 acres, encompassing 548 existing members. "The proposed redevelopment is expected to unlock a saleable

Embassy REIT raises ₹1,550 crore through NCDs and term loan facilities

Embassy REIT secures ₹1,550 crore through a mix of NCDs and a term loan, achieving an annual interest saving of 113 basis points through refinancing of existing debt

Home payment plans in India: What CLP, PLP, flexi, and subvention mean

CLP, PLP, flexi or subvention? India's real estate payment plans offer flexibility-but come with risks. Here's what every homebuyer should know before signing

Keystone to redevelop Mumbai locality with Mhada, eyes GDV of Rs 4,521 cr

The project spans 11.19 acres in Sion Koliwada and will rehabilitate 1,200 members, unlocking 20.7 lakh sq ft of saleable area for Rustomjee and stock for Mhada

Smallcap realty stock zooms 108% from March low; analysts see more upside

Shares of Kolte Patil Developers hit a 52-week high of ₹488.65, rallying 5 per cent on the BSE in Tuesday's intra-day trade in an otherwise subdued market.

BPTP Group to invest ₹3,000 cr to build 12-acre housing project in Gurugram

Real estate company BPTP Group will invest Rs 3000 crore to develop a premium housing project in Gurugram as part of its expansion plan. The company is developing a 12.05-acre project at Sector 102 on Dwarka Expressway, Gurugram comprising around 1,600 apartments. BPTP is developing this project in three phases. The company launched first phase 'Amstoria Verti Greens' earlier this year comprising 885 homes. Recently, BPTP launched the second phase 'GAIA Residences' comprising 531 apartments. The prices of apartments are Rs 3.85 crore onwards. "GAIA represents the next chapter in urban luxury...We are building for a generation that values both sophistication and sustainability and GAIA delivers both in abundance," BPTP Group President Amaan Chawla said in a statement on Tuesday. A company official said that the total cost of this project is estimated at around Rs 3,000 crore. The entire project is scheduled to be completed in 5-6 years. BPTP is one of the leading real estate ...

Oswal Group, Marriott to develop ₹260 crore Westin Hotel in Ludhiana

Marriott to operate a 200-key Westin Hotel in Ludhiana under partnership with Oswal Group's realty arm, part of a seven-acre mixed-use commercial project

Steady buyer sentiment drives Mumbai property registrations to H1 2025 high

Experts indicate buyers are moving towards high-ticket-size transactions, with the city recording its second-highest property registration figures in June 2025

Inside Gurugram's real estate boom: How traders are flipping the game

Gurugram's housing market is being reshaped by fast-trading buyers, not end-users, distorting prices and sparking new worries over affordability and risk

Hyatt signs $2 bn deal with Tortuga to sell Playa's real estate assets

Hyatt had entered into a deal to buy Playa, which operates 24 high-end, all-inclusive resorts across Mexico, Jamaica and the Dominican Republic

Ample Parks launches 71-acre industrial park in Mahindra World City

With Rs 800 crore investment, Ample Parks unveils Chennai park with 2.1 mn sq ft leasing space and eyes 10x expansion across tier 1 and 2 cities in 5-7 years

Embassy REIT secures ₹1,550 cr via NCDs, loans to refinance existing debt

Embassy Office Parks REIT has successfully raised Rs 1,550 crore through the issue of debentures and term loans to refinance its existing debt and save interest costs. In a regulatory filing on Monday, the company said it has "raised Rs 1,550 crore through a combination of Non-Convertible Debentures (NCDs) and term-loan facilities". "The proceeds will be used to refinance certain existing debt, resulting in annual interest savings of approximately 113 basis points (bps)," it added. The fundraise comprises Rs 750 crore through NCDs, priced at a coupon of 6.97 per cent, and a Rs 800 crore term-loan from a leading bank that is priced at a floating interest rate of 7.40 per cent over a 15-year tenor. Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT, said, "This refinancing continues to support our strategy of optimally managing our balance sheet and positions us well to finance our future growth initiatives." Embassy REIT owns and operates a 51.1 million square feet portf