Page 68 - Real Estate

Anarock to double office leasing team amid rising demand for workspaces

Real estate consultant Anarock plans to double its office leasing team size to 100 professionals this year for catering to rising demand of premium workspaces from corporates. Mumbai-headquartered Anarock entered into office leasing segment in April 2024, expanding its business from housing brokerage, capital market transactions, and leasing of retail as well as industrial and warehousing spaces, among others. In an interview with PTI, Peush Jain, Managing Director, Commercial Leasing and Advisory at Anarock, said the office leasing team has grown to 50 professionals across India, blending seasoned industry experts with young, dynamic talent proficient in research, advisory, and transaction management. "In 2025, we aim to double our team size, emphasising quality over quantity. Hiring efforts will target high-demand markets like Bengaluru, Hyderabad, and Mumbai, focusing on strengthening transaction management, client advisory, and market research verticals to meet rising demand," .

New office space supply falls 6% across top 8 cities in 2024: Report

India's eight major office markets saw a 6 per cent annual decline in fresh supply of workspaces during 2024, even as the demand hit an all-time high, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield (C&W) data showed that new supply of office space stood at 451.5 lakh square feet in 2024 as against 477.9 lakh sq ft in the preceding year. New supply declined in Delhi-NCR, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad, while it jumped in Mumbai and rose marginally in Bengaluru. Among cities, the new office space supply in Mumbai jumped more than 4 times to 83.2 lakh sq ft in 2024 from 20.5 lakh sq ft in the preceding year. In Bengaluru, the new supply grew to 133.4 lakh sq ft from 133.1 lakh sq ft. However, Delhi-NCR witnessed a 5 per cent fall in new supply to 46.8 lakh sq ft from 49.2 lakh sq ft. In Chennai, the new supply fell 59 per cent to 21.7 lakh sq ft from 53.3 lakh sq ft. Pune saw a dip of 27 per cent to 42.2 lakh sq ft from 57.4 lakh

Not a happy year: How Hong Kong's rich and famous lost billions in 2024

Hong Kong's elite suffer massive property losses in 2024 as high-interest rates and a weak economy force fire-sale deals, with discounts up to 70 per cent on luxury assets

Gurugram under-construction prices up 55%; North Goa villas see 16% hike

Gurugram and Mumbai led the surge in under-construction property values, with increases of up to 55% and 10%, respectively, while Bengaluru and North Goa saw gains of 25% and 16%.

Office demand in key business hubs outpaces supply: Mindspace REIT CEO

India's key office markets Bengaluru, Hyderabad, Pune, and Gurugram are witnessing higher demand for premium workspaces than new supply and this will lead to a drop in vacancy rates as well as an increase in rentals during 2025, Mindspace Business Parks REIT CEO Ramesh Nair said. "As we step into 2025, India's office market stands at the cusp of transformative change, mirroring the dynamism of the nation's economy and its burgeoning workforce. This year will be shaped by a synergy of technology, sustainability, and evolving business priorities, redefining the way organisations utilise and perceive office spaces," he said. Nair has listed ten key trends for India's office market in 2025 calendar year. He said there is a scarcity of Grade-A office spaces in business hubs. "Vacancy rates are projected to drop in key markets like Bengaluru, Hyderabad, Pune, and Gurugram as demand outpaces supply. This will create competitive leasing conditions and push rents upward in prime locations.

Strong demand outlook to benefit Mumbai-based real estate players

For the nine-month period (April to December 2024), 1.04 lakh units were registered. This was 9 per cent more on a Y-o-Y basis and was valued at Rs 1.56 trillion

Homebuyers' body urges govt action on misleading real estate advertisements

The Forum for People's Collective Efforts has urged the Ministry of Consumer Affairs to implement stricter guidelines and enforce penalties for non-compliance with advertisement guidelines

2024 realty deals hit 5.5 lakh, valued at Rs 4 tn, prices up 60% in 5 yrs

In 2024, nearly 5.77 lakh residential registered transactions were recorded in primary and secondary property markets, marking a 4% increase from 2023.

Housing price at Noida Expressway jumps 66% in 5 yrs: Anarock data

Housing prices in Bengaluru's peripheral location Gunjur have risen by 69 per cent in the last five years, while Noida Expressway in Delhi-NCR witnessed 66 per cent appreciation, according to Anarock. Real estate consultant Ananrock's data showed that average housing prices in Noida Expressway stood at Rs 8,400 per sq ft in the September 2024 quarter against Rs 5,075 per square feet in 2019. NCR's peripheral area Sohna saw price growth of 43 per cent to Rs 5,900 per sq ft from Rs 4,120 per sq ft, while prime area New Gurugram witnessed a 59 per cent rise in the same period. Dwarka Expressway saw a significant 93 per cent jump in average housing prices to Rs 10,350 per sq ft from 5,359 per sq ft. In Bengaluru's peripheral location Gunjur, the housing prices have increased to Rs 8,500 per square feet from Rs 5,030 per square feet. Housing brokerage firm InvestoXpert.com founder and MD Vishal Raheja said, "The Noida-Greater Noida Expressway strikes the perfect balance between ...

Max Estates sells luxury residential properties worth Rs 845 cr in Noida

Realty firm Max Estates Ltd on Friday said it has sold luxury residential properties worth Rs 845 crore in Noida amid strong demand. In a regulatory filing, Max Estates said its subsidiary Max Estates 128 Pvt Ltd has successfully launched the second phase of its residential project 'Estate 128' in Noida. "Building on the success of the first phase, the second phase has achieved a pre-sales booking value of Rs 845 crore within a week of its launch, and has surpassed the company's original guidance of Rs 800 crores as the booking value potential for this phase," Max Estates said. The company did not disclose the number of units it has sold for Rs 845 crore and the price per apartment. The project, combining both phases, now comprise four towers with 268 units, spanning 10 acres and a total booking value of about Rs 2,700 crore. Max Estates said it has already achieved a booking value of about Rs 5,000 crore in the first nine months of 2024-25. This performance is well within the ...

Bollywood-backed realtor Sri Lotus Developers files DRHP for Rs 792 cr IPO

Earlier this month, the company raised about Rs 408 crore through a private placement

Delhi NCR sees highest yearly jump of 30% in home prices in 2024

National Capital Region (NCR) has recorded the highest yearly jump in home prices, showing a remarkable 30% increase from Q4 2023 to Q4 2024.

Millennials, Gen Z expected to make up 60% of new homebuyers by 2030: JLL

The report projects an increase in urban homeownership rates to 72% by 2025, up from 65% in 2020.

Residential and commercial sectors to stand as pillars of resilience

Growth is expected to be stable on the supply side as well. With a stable outlook for both demand and supply, the year-to-sales indicator for inventory will continue to remain favourable

CRISIL analysis: Automobile sector faces mixed fortunes amid rural revival

Rural demand had been subdued in the past few financial years owing to low farm profitability because of erratic monsoon and the outsized impact of the pandemic on rural incomes

Sales to investments: Win some, lose some for real estate in 2024

Industry expects housing supply to increase next year

Logistics, Industrial spaces demand seen at 50-53 mn sq ft in 2024: Report

Leasing of logistics and industrial (L&I) spaces is estimated at 50-53 million square feet this year across eight major cities on sustained demand, according to Cushman & Wakefield. The leasing of L&I spaces stood at 53.57 million square feet across Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad. Real estate consultant Cushman & Wakefield said that as of October 2024, the leasing volume has already surpassed 41 million square feet across the top-8 real estate markets. "Ever since the Production-Linked Incentive (PLI) scheme was introduced by the government in 2020, the industrial leasing volume witnessed healthy growth. Besides, the strong emergence of retail and e-commerce has led to intense activity in the warehousing space too," the consultant said. For 2025, Cushman & Wakefield foresee the new-normal level of demand to sustain given the widening of the consumption base in India alongside robust industrial

Oberoi Realty to build luxury villas, hotel in coast town Alibaug

Company tells stock exchanges it has acquired 81 acres from landowners for the project

Metro brands promoters Alisha, Zia Malik buy Worli flats for Rs 81 cr each

Alisha Rafiq Malik and Zia Malik Lalji, co-promoters of Metro Brands, have invested in Mumbai's luxury real estate by purchasing two apartments in the Palace Royal complex in Worli for Rs 81 cr each

TVS Emerald buys land in Chennai for Rs 2,800 crore real estate project

TVS Emerald has bought a 12-acre land to develop a real estate projects worth about Rs 2,800 crore. The company did not disclose the cost of the acquisition of the land, which is located on Radial Road (PTR) in Chennai. The land will have a development potential of 2.5 million square feet and a revenue potential of Rs 2,800 crore, the company said in a statement. This marks the third acquisition of land by TVS Emerald in the current fiscal. Earlier, the company acquired a 4-acre land parcel in Padur, Chennai and a 4-acre parcel in Thanisandra, Bengaluru. Sriram Iyer, Director & CEO, TVS Emerald, said, "This landmark acquisition, reinforces our commitment to strategic growth and market leadership in Chennai and Bengaluru." By securing this land on the premium Radial Road corridor, he said, the company is expanding footprint and creating substantial value for its stakeholders. "This move aligns perfectly with our vision of developing world-class properties in high-potential ...