Month: August 2024

The ‘Prime Global Cities Index Q2 2024’ report notes that the average annual price increase across 44 key residential markets worldwide was 2.6% in the 12-month period ending June 2024. However, Indian cities have bucked this global trend, with Mumbai, New Delhi, and Bengaluru all registering robust growth in their prime residential property markets. https://www.cnbctv18.com/real-estate/mumbai-and-delhi-lead-global-surge-record-price-hikes-in-prime-residential-markets-19464699.htm

The investments are primarily directed towards office spaces (54 to 56 per cent), unlike earlier when the investments were more focused on the residential real estate sector. https://www.business-standard.com/industry/news/india-s-tier-1-real-estate-market-becomes-transparent-for-the-first-time-124082700933_1.html

Hyderabad’s Kokapet is ranked second with 89 per cent price appreciation https://www.moneycontrol.com/news/business/real-estate/avg-housing-prices-up-90-in-bengalurus-bagaluru-since-2020-79-at-dwarka-expressway-12807332.html

New Metro corridors in Bengaluru and Maharashtra likely to act as a catalyst for the growth of housing, office and retail markets. https://www.hindustantimes.com/real-estate/cabinets-approval-of-three-metro-projects-in-maharashtra-and-bengaluru-expected-to-lead-to-growth-of-real-estate-sector-101723825781050.html

Major real estate transactions and acquisitions after 2020 bolstered the region’s stronghold on residential housing. For example, Birla Estates, the real estate arm of Century Textiles and Industries, has agreed to jointly develop a prime 52-acre land parcel in North Bengaluru with MS Ramaiah Realty LLP. https://www.moneycontrol.com/news/business/real-estate/north-west-bengaluru-residential-prices-expected-to-grow-faster-than-city-average-holds-potential-to-decongest-city-12796345.html

Three Sixty West remains at the pinnacle of Mumbai’s luxury real estate landscape, attracting some of the most prominent figures from various sectors. From business tycoons like Radhakishan Damani and BK Goenka to Bollywood stars such as Shahid Kapoor, the residential complex has become a symbol of elite living. https://www.financialexpress.com/life/lifestyle-radhakishan-damanis-rs-1238-crore-flats-to-bk-goenkas-rs-240-crore-penthouse-list-of-billionaires-and-celebrities-who-bought-houses-in-mumbai-in-2023-24-3579990/

Delhi NCR recorded the highest growth of 96%, from 1,250 sq. ft. in 2019 to 2,450 sq. ft. in H1 2024 https://www.business-standard.com/industry/news/average-flat-size-grew-by-32-in-top-seven-cities-over-five-years-report-124081200626_1.html

State-owned NBCC has won a major Rs 15,000 crore contract from the Jammu & Kashmir government to develop a satellite township in Srinagar. The township will be located at Rakh-e-Gund Akshah, Bemina, in Srinagar, and will span over 406 acres. https://www.financialexpress.com/money/own-a-piece-of-kashmir-nbcc-to-develop-residential-plots-and-villas-in-new-srinagar-township-project-details-and-amenities-3579615/

The rating agency expects the area sold in the top seven cities in India to increase by 10-12 per cent to 785-800 million square feet in 2024-25. These seven cities are Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai. https://www.deccanherald.com/business/icra-pegs-5-6-growth-in-average-sale-price-in-housing-segment-this-fiscal-3140998?utm_source=whatsapp&utm_medium=referral&utm_campaign=socialshare