Big cut in interest rate needed to revive real estate sector -Anarock

Anuj Puri, chairman of Anarock Property Consultants, today called on the Reserve Bank of India to go for a cut of at least half a percentage point in the overnight interest rate to ensure that the real estate sector is revived. The call comes in the wake of a global slowdown in consumption and investment, […]

Brigade Group starts new affordable township near Bangalore Airport

Brigade, a Bangalore-based real estate developer, announced plans to build its eighth integrated residential enclave near Aerospace Park near the Bangalore International Airport. It will be an affordably priced 50-acre project comprising 2 and 3 bedroom units. Each flat in the project will cost less Rs 45 lakhs, excluding government levies and maintenance charges, said […]

PE firms love malls in smaller Indian cities – Study

International private equity investors do not shy away from investing in malls in India’s tier-2 cities such as Amritsar, Ahmedabad, Bhubaneshwar, Chandigarh, Indore and Mohali, according to a study by Anarock Property Consultants. Real estate can be broadly divided into residential and commercial. Commercial is further divided into retail (malls) and office space. A total […]

Private Equity money shifts to commercial real estate, ignores residential segment

The last three years have seen a massive shift in private equity investment in the Indian real estate sector from residential properties to commercial properties, according to data compiled by Anarock Property Consultants. The share of residential sector within private equity investments in real estate fell to just 3% in 2018 from 47% in 2015, […]

Godrej properties Q4 volumes up 153%, realizations down

Godrej Properties, the Mumbai-based real estate arm of the eponymous diversified group, reported its highest ever quarterly sales, but the numbers also indicated that the company was realizing less upfront revenue per square feet booked. The company sold 3.72 million square feet of developments during the three months from January to March 2019, a jump […]

Mukesh Ambani’s Reliance Industries sets up real estate company

Reliance Industries, the flagship company of the Mukesh Ambani led Reliance Group, said it has set up a subsidiary for the purpose of carrying out operations in the real estate space. The group, which has hitherto focused on areas like petrochemicals, energy, retail and technology, does not have a sizable real estate-focused business as of […]

Bangalore-based Brigade Group to create 7 co-working spaces in 3 cities

Real estate firm Brigade Enterprises said it plans to set up seven co-working facilities in three cities as it enters one of the fastest growing segments in commercial real estate. Brigade’s Buzzworks coworking venture will start off with 2,500 seats, the company said. Coworking spaces refer to large buildings full of flexible ‘work spaces’ that […]

Lodha to build India’s largest mall at Palava smart city in Mumbai

Real estate developer Lodha Group announced what it called ‘India’s largest mall’, spread over 20 acres in Palava, a smart city being developed near Dombivili, Maharashtra. The developer said the mall would be a ‘game changer’, not just for Mumbai, for the entire region, and will address hitherto unmet needs of Mumbaikars. “The development, comprising […]

Swaminarayan City Dombivali starts booking, price Rs 45 lakhs

Booking has started for the 550 flats at Swaminarayan City, a 148-acre complex built around the upcoming Swaminarayan temple in the Mumbai suburb of Dombivali, real estate consultant ANAROCK said. Built by the Swaminarayan religious group via Swaminarayan Life Space LLP, the project will primarily cater to devotees of Swaminarayan, the 19th century ascetic with […]

Godrej Properties launches new project on Bangalore Airport road

Godrej Properties Ltd, a Mumbai-based real estate developer, announced a new project, ‘Godrej Aqua’, on the International Airport Road in Bangalore. The project gets its name from its efforts to  recycle most of the water on site using advanced technologies and promises to offer ‘drinking water straight from the tap’. Godrej Aqua will offer two- […]

Olympia Group to construct mall at Eveready plot on Tiruvottiyur Road

Eveready Industries, one of India’s largest battery makers, said it has signed an agreement to sell its plot on  Tiruvottiyur Road in Chennai to local real estate developer Olympia Group for Rs 100 cr. The agreement, said the battery maker, was executed yesterday with Olympia Group firm Alwarpet Properties Private Limited. Mr. Ajit Chordia, MD of […]

Brigade Group announces 412 new flats at Meadows on Kanakapura Road

Brigade Group, one of Bangalore’s top two real estate companies, announced the launch of the last expansion of Brigade Meadows, an integrated township spread over 60 acres of land on Kanakapura Road in India’s IT capital. Brigade Meadows is already home to over 2,000 families, the company said. The last phase, to be called Plumeria […]

Godrej Properties to develop Hero Cycles’ 4-acre plot in Gurgaon

Godrej Fund Management and Godrej Properties said they have entered into a joint venture agreement with Hero Cycles, which belongs to the same group as Hero MotoCorp, to develop an office complex at the cycle manufacturer’s four-acre property in Gurgaon. The ‘prime office property’ will have around 1 million square feet of prime office and […]

Brigade Enterprises launches apartment complex on Bangalore Airport road

Brigade Enterprises, one of the top real estate players in Bangalore, announced its plans to set up Brigade Bricklane, a low-rise apartment project at Jakkur in North Bangalore. The flats will be priced at Rs 33 lakhs and above and will be constructed with lots of open space between each block. “The apartments have been […]