Knowledge Realty Trust (KRT) plans to invest Rs 700 crore over three years to develop 1.4 million sq ft of office space in Bengaluru. The REIT, sponsored by Sattva Group and Blackstone, is also seeking acquisitions for inorganic growth. KRT anticipates continued strong performance in FY27, driven by demand from Global Capability Centres. Source link...
The Enforcement Directorate has arrested real estate businessman Ajay Sehgal in a money laundering probe linked to alleged fake consent letters for Punjab government's Change of Land Use (CLU). Sehgal, Secretary of ICHBS, is accused of forging signatures for the Suntec City project and other developments, with sales exceeding Rs 200 crore. Investigations into other officials are ongoing. Source...
Chandigarh's Master Plan 2031 proposes significant changes, allowing higher density, taller buildings, and greater design flexibility. These amendments aim for vertical growth and optimized land use, contrasting with previous restrictive norms. The changes include increased FAR, relaxed height restrictions, and adjusted ground coverage across various land-use categories. Source link...
Tariq Premji, the son of Wipro's iconic founder Azim Premji, has made waves in the real estate world by securing a stunning duplex penthouse in central Bengaluru for Rs 45.7 crore. Source link...
HDFC Bank has provided Rs 300 crore in funding for a Rs 2,000 crore ultra-luxury residential project in Hyderabad's Kokapet. This investment highlights a trend of developers seeking structured financing amid moderating sales and strong demand for premium homes, with Hyderabad leading southern India's luxury market. Source link...
ICICI Prudential AMC has acquired nine floors in Mumbai's VIOS Tower for over Rs 525 crore through its office yield fund. This acquisition, totaling over 3 lakh sq ft of pre-leased office space, marks the fund's seventh commercial asset purchase, reinforcing its focus on income-yielding real estate. Source link...
UP-RERA has asked banks and financial institutions to follow revised operational guidelines for RERA-registered project accounts, including a mandatory three-account system, restrictions on liens, tighter withdrawal norms and quarterly disclosures of project finance. The authority said the guidelines are aimed at preventing diversion of homebuyer funds and improving monitoring of real estate...
India’s real estate sector may require nearly ₹50 lakh crore of capital over the next decade to support growth, according to an Anarock Capital report. While funding channels have diversified through banks, AIFs, REITs, private credit and government-backed vehicles, affordable housing remains underfunded, with over 4.5 lakh stalled affordable and mid-income homes needing about ₹55,000 crore of...
Leading real estate firms are vying to redevelop three large housing colonies in Mumbai. These projects span prime areas like Worli, Bandra Reclamation, and Andheri West. The Maharashtra Housing and Area Development Authority is overseeing the process. This initiative aims to upgrade living standards for residents in older colonies. It promises modern housing and improved urban infrastructure for...
As India's office absorption surpasses 75 million sq ft in 2025, a new Savills India report warns that interior fit-outs , replaced every 5-7 years, may be generating more embodied carbon than the building structures themselves. The circular economy offers a commercially viable fix, but fragmented supply chains and absent regulation are slowing adoption. Source link...