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...
ICRA expects the operating profitability of Indian cement companies to moderate in FY27 due to higher power, fuel, freight and packaging costs amid geopolitical tensions in West Asia. Operating profit per tonne is projected to decline to ₹820-870 in FY27 from an estimated ₹950-980 in FY26, though partial price hikes may cushion the impact. Source link...
Financial software firm Intuit has secured a significant office space in Bengaluru. The deal involves over 630,000 square feet across 11 floors. This transaction highlights strong activity in India's office leasing market. Global Capability Centres are expanding their teams for engineering and AI. Intuit's expansion underscores its commitment to its India development centre. Source link...
UP-RERA has approved 13 real estate projects across eight districts of Uttar Pradesh with a cumulative investment of ₹3,052.73 crore and 4,772 proposed residential and commercial units. The authority has also asked homebuyers and complainants to use its online portal to verify project details, track complaint status and check recovery certificate proceedings before making purchase or legal...
Open plots in Thorrur and Bahadurpally saw strong demand at a recent auction, with prices reaching Rs 45,500 and Rs 40,500 per square yard respectively. The Rajiv Swagruha Corporation auctioned 85 plots, attracting 150 bidders. Thorrur's proximity to the ORR and Adibatla IT corridor drove high bids, while Kurmalguda's closeness to Shamshabad airport also boosted prices. Source link...
In a surprising turn of events, Ambuja Cements, part of the Adani Group, has put in a bid of Rs 580 crore for Jaypee Cement. However, this bid falls short of the company's liquidation value, prompting lenders to engage in discussions with Ambuja for a more favorable offer. Source link...