The National Stock Exchange of India has made a bold move by leasing a coveted 2.7-acre site in the bustling Bandra-Kurla Complex of Mumbai for the next 80 years, with a lease premium amounting to Rs 1,684 crore. Source link...
Real Estate
The Central Bureau of Investigation has filed a chargesheet against Logix City Developers Pvt. Ltd. and its directors. Officials from ICICI Bank and HDFC Bank are also named. They are accused of conspiring to cheat homebuyers and financial institutions. The builder allegedly used false assurances and deceptive means. This caused wrongful loss to investors and banks. Source link...
A deep-dive brokerage report reveals a sector caught in a structural bind: residential real estate transactions have hit record highs, yet the digital platforms riding that boom, from listing portals to transaction brokers to home interior firms, are burning cash, losing the advertising war to Google and Meta, and scrambling to reinvent themselves by piling into each other's businesses. Source...
The current turmoil in West Asia is having a notable effect on the property market in the UAE. Developers are experiencing significant delays in delivering new homes due to ongoing supply chain challenges and soaring costs. Source link...
Nexus Select Trust is set to acquire a large mixed-use property in Guwahati for ₹1,300 crore. Inorbit Malls is also expanding its mall portfolio in Tier-2 cities. Developers are increasingly targeting these markets due to strong consumption growth and lower acquisition costs. Source link...
The Directorate of Enforcement has filed a prosecution complaint against TDI Infrastructure Ltd. and its directors under the Prevention of Money Laundering Act. The company is accused of defrauding homebuyers by failing to deliver flats, allegedly diverting Rs 4,619.43 crore collected from over 14,100 customers. Assets worth Rs 349.55 crore have been attached. Source link...
The CBI has filed its sixth chargesheet in the builder-banker nexus case. Shubhkamna Buildtech Pvt Ltd and its directors are accused of cheating homebuyers. The company allegedly made false promises to secure investments. This action is part of a larger Supreme Court-directed probe into builder fraud across India. Source link...
Boston Scientific has leased over 1.3 lakh sq ft of office space in Pune for its global capability centre, signing a nearly 9.5-year lease. The deal includes an option for further expansion, highlighting Pune's appeal for multinational firms seeking large office campuses and talent. Source link...
Housing societies in Mumbai can now utilize up to 4% of their built-up area for amenities like yogalayas and fitness centers without incurring Floor Space Index (FSI) charges. This increase from the previous 2% aims to enhance residents' quality of life by providing larger recreational spaces, including covered swimming pools. Source link...
Brigade Enterprises will continue launching projects from its existing pipeline in FY27 despite approval delays, geopolitical uncertainty and concerns over technology-sector hiring, said Pavitra Shankar, managing director of the company. The developer is also looking to increase its focus on mid-segment housing, while continuing land acquisition in Bengaluru, Chennai and Hyderabad. Source link...