Godrej Properties starts sales of flats in RK Studios

Real estate developer Godrej Properties has opened booking for its first flats in RK Studio, the 2.2-acre film studio established over six decades ago by legendary actor Raj Kapoorj. The Vikhroli, Mumbai-based developer had purchased the studio property for an undisclosed amount in May this year and announced plans to put up 3.5 lakh square […]

Brigade Group ties up with IKEA for pre-furnished homes

Brigade Group, one of India’s leading Real Estate Developers, has tied up with Swedish furniture maker IKEA to offer pre-furnished homes in India. “Brigade has set up multiple model apartments showcasing IKEA furnishing options in the home-front including Living/Dining rooms, bedrooms including children’s rooms, kitchens, and bathrooms. “Potential buyers or existing customers can visit these […]

Govt subsidy scheme shrinks affordable homes drastically

The size of apartments on sale in India are shrinking like never before, mostly due to a new affordable housing subsidy scheme announced by the government in early 2017. Under this credit subvention scheme, the government will today pay up to Rs 3.5 lakhs to banks on behalf of anyone who takes a home loan […]

Politicians face backlash for supporting illegal flats in Maradu

The demolition of five illegal high-rise apartment buildings in Kochi has snowballed into a major controversy, with some of the state’s prominent politicians who openly supported the illegal buildings now coming under fire from social media and even their own colleagues. The initial response of the political community in the state was one of support […]

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, […]

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 […]