Apple India has leased approximately 2.7 lakh square feet of office space in Bangalore from Embassy Group for a decade, commencing April 3, 2025, with a starting monthly rent of Rs 6.3 crore. The iPhone maker, India's largest mobile phone exporter, is projected to pay over Rs 1,000 crore in rent and maintenance over the lease period, with a 4. Source link...
Mumbai's real estate sees a transformation. Builders redevelop old societies into taller towers. They gain higher Floor Space Index by housing project-affected people. This benefits residents with more space. However, increased density strains infrastructure. Authorities aim to balance development and public needs. Challenges remain in timely project completion and approvals. The focus is on ensuring...
To safeguard their profitability, SBI and Union Bank of India are increasing home loan spreads despite falling policy rates. This reverses the trend of passing rate cuts to new borrowers, as banks grapple with sticky deposit costs. Public sector lenders, previously focused on market share, are now prioritizing sustainable returns, signaling a potential shift in the home loan market. Source link...
Chief Minister Fadnavis expressed concern over rising Mumbai flat prices despite government concessions like reduced premiums. He urged builders to invest in developing Third and Fourth Mumbai, focusing on edutech and innovation hubs. Fadnavis also emphasized the need for faster slum redevelopment using new technologies to achieve a slum-free Mumbai. Source link...
The NCLAT has upheld the insolvency proceedings against Supertech Realtors, developer of the Supernova project, after a plea by Bank of Maharashtra over unpaid dues. A settlement proposal by Supertech's promoter was rejected by the consortium of banks. The appellate tribunal has allowed the formation of a Committee of Creditors to proceed with the insolvency resolution process. Source link...
Kriti Sanon has invested over Rs 78.20 crore in a sea-facing luxury duplex penthouse in Mumbai's Pali Hill, securing a 6,636 sq ft space across the 14th and 15th floors of Supreme Prana. The deal, costing around Rs 1.18 lakh per square feet, is one of the most expensive properties in the city's suburbs. Source link...
A CAG audit exposed irregularities in Greater Noida Industrial Development Authority's allotment of plots. The audit highlighted policy violations between 2005 and 2018. GNIDA focused on residential development instead of industrial development. Many housing projects faced delays. Allotments were given to unqualified bidders. The audit revealed lapses in governance. Homebuyers faced project delays and...
The Enforcement Directorate searched several premises in Lucknow and Delhi. The searches relate to a money laundering investigation against Rohtas Projects Limited. The realty group allegedly duped investors of Rs 248 crore. Homebuyers filed 87 FIRs since 2021. Promoters Piyush Rastogi, Paresh Rastogi, and Deepak Rastogi are absconding. The ED aims to find evidence and attach the promoters'...
Etonhurst Capital Partners has made a significant investment in Mumbai's luxury real estate. The platform acquired 37 ready-to-move-in apartments in Worli for over Rs 500 crore. This deal marks the first inventory buyout by an institutional investor in the luxury housing market. Etonhurst plans to refurbish the apartments before putting them up for sale. Source link...
Eaton Technologies India has leased 150,000 sq ft of office space in Pune's Aditya Shagun Infinity IT Park for 10 years, with a potential rental outflow exceeding Rs 250 crore. The company plans to establish its Global Capability Center (GCC) at this location. This deal highlights India's growing prominence as a hub for GCCs, driven by talent availability and infrastructure. Source link...