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Industry News

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Industry News

  • NYC penthouse sells for $135 million in priciest deal since 2022 | Hindustan Times

    A penthouse at Aman New York has sold for $135 million, making it the most expensive home purchased in Manhattan this year. The five-story apartment atop the historic Crown Building on Fifth Avenue was sold as unfinished space that the buyer is responsible for building out, a spokesperson for developer OKO Group said. The deal for the roughly 12,500-square-foot (1,160-square-meter) unit works out to more than $10,000 a square foot.

  • ­ Govt plan to complete houses under PMAY-U | The Times of India

    With more than 50,000 houses yet to be completed under Pradhan Mantri Awas Yojana (PMAY)-Urban, housing and urban development department is drawing up plans to complete the houses on time as the central scheme is inching closer to its completion in Dec. According to the status, construction of 32,275 such houses is under progress while 17,915 houses are in the non-starter stage and 5,305 houses are not attached (status of which are not updated) by the respective urban local bodies.

  • Bill to create urban land, property records authority for Delhi in works | The Indian Express

    In a first, the Union Housing and Urban Affairs Ministry is working on a Bill to create an urban land and immovable property records system — covering all urban lands, buildings, apartments, and flats — for Delhi with an authority to be headed by the Lieutenant-Governor, The Indian Express has learnt. The Delhi Urban Land and Immovable Property Records, Bill, 2024 that will cover all notified urban areas and apartments is a work in progress, said sources. At present, Delhi does not have an Act for managing urban land records, officials added.

  • Innov8 launches 3 new co-working centers in Delhi-NCR, adds 60,000 sq ft office space | Financial Express

    Co-working startup Innov8 has announced the launch of three new centers in Delhi-NCR. These facilities span a total of ~60,000 sq ft and offer over 1200+ seats along with a range of thoughtfully-designed amenities and services. Strategically located within three of Delhi NCR’s most prestigious commercial hubs — Unitech Cyber Park, DLF Cyber City and Okhla – these centers provide prime connectivity and easy access for businesses and professionals from across Delhi-NCR. All centers are a 5-minute walk from major metro stations ensuring seamless travel for their members.

  • Two key factors will impact the luxury housing market: Report Moneycontrol.com

    Elections around the world are set to have a profound, albeit temporary, impact on luxury housing, according to a new midyear Luxury Outlook report from Sotheby’s International Realty. “We really wanted to take a temperature check on what potential the US election might have on the market,” says Chief Marketing Officer Bradley Nelson, who spearheaded the report.

  • Mumbai real estate market: Can you rent a property in the financial capital for two to six months? | Hindustan Times

    While the preferred period to rent a property in Mumbai, be it commercial or residential, is a minimum one year, there are instances when properties are leased for a shorter duration for two to six months. According to real estate brokers, there is no legal provision that prohibits property owners from renting out private property for a shorter period, but the rent charged is at a premium (extra) and is generally 20% higher than the market rate.

  • ­ Bengaluru landlords start compromising on apartment rents as techies move away from IT corridors Moneycontrol.com

    After a mad rush for rentals in the last two years, Bengaluru techies are moving away from the IT corridors to the city outskirts where rentals are affordable. Brokers say rentals in IT suburbs like Whitefield have come down by at least 15-20 percent year on year (YoY). Recently, a couple, both working in the IT field, in south-east Bengaluru's Sarjapura, decided to move from the prime Sarjapura area into the outskirts, about 5 km away.

  • Bengaluru to dominate India's commercial real estate market with 330-340 mn sq feet office stock by 2030: Report Hindustan Times

    India’s IT capital Bengaluru is expected to continue its lead in India's commercial real estate market with 330-340 million square feet of office stock by the year 2030, according to a report by the Confederation of Indian Industry and CBRE.

  • This is world's most affordable country for immigrants in 2024: India in top 10 | Hindustan Times

    Vietnam is the most affordable country in the world for immigrants marking the fourth consecutive year when the country has got the top spot out of 53 destinations, as per a 2024 InterNations study. The ranking was based on quality of life, digital life, housing and language, career prospects, salary and job security. In the survey, more than 12,000 expats across 174 territories worldwide participated.

  • Parle Biscuits Private Limited sells three apartments for ₹45 crore in Mumbai Hindustan Times

    Parle Biscuits Private Limited has sold three apartments for ₹44.81 crore in Mumbai in the projects Rustomjee Elements and Rustomjee Seasons, documents accessed by Zapkey showed.

    The first flat located in Rustomjee Seasons is 1928.26 sq ft (carpet area) and is located on the 21st floor. It comes with three car parks. This was sold for ₹15 crore.

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