New home prices in China rose at the fastest pace in more than two and a half years in March versus a month earlier, a private survey showed on Monday, driven by a slew of supportive steps to prop up the crisis-hit property sector.

The average new home price across 100 cities rose 0.27% on month in March, the biggest rise since July 2021, showed data from real estate researcher China Index Academy. That compared with a 0.14% on-month gain in February

The first quarter of 2024 witnessed a significant 80% year-on-year increase in hotel transaction volumes, reaching $78 million, according to the latest report by consultancy firm JLL India titled ‘Hotel Investment Trends – India 2023.’ A record number of hotel signings and openings took place in 2023, with 25,176 keys signed and 12,647 keys opened. There is an increasing interest in hotel development activity in Tier-2 cities, with 54% of the total signings taking place in these locations, the report stated.

Prestige Estates Projects Ltd has secured ₹2,001 crore or $240 million funding from Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The capital infusion is earmarked for the development of housing projects across four major cities as part of Prestige's expansion strategy, the company said in a regulatory filing on Monday, April 1. CEO Venkat K Narayana revealed that the funds, structured in a quasi-equity format, will power the development of four housing projects situated in Delhi-NCR, Mumbai, Goa, and Bengaluru.

India’s largest landowner, the Indian Railways, has identified 341.93 hectares of prime land across the country which will be given out to private developers on a 90-year-lease, and from which the railways hopes to generate ₹5000 crore. In 2023-’24 the railways recorded a marginal surplus of ₹2,210 crore.

Noida authority has said that it has given permission for the registry of a total of 13,639 apartments after real estate developers of 35 housing projects gave their consent to clear their financial dues. To obtain permission for registry of ready apartments in Noida, developers have agreed to pay ₹552 crore worth of financial dues that is 25 percent of total dues of ₹2000 crore.

The Noida authority issues permission for registry after a developer pays 25% of their total dues as per the policy approved by the UP government on December 21, 2023.

Institutional investments in real estate fell 40 per cent annually in January-March to $ 995.1 million because of a lower inflow of funds in office, residential, and warehousing assets, according to Colliers India.

The institutional investments stood at $ 1,658.3 million in the year-ago period. Out of the total institutional investments, real estate consultant Colliers India highlighted that foreign funds contributed 55 per cent while domestic investors 45 per cent.

Property technology (proptech) players in India are looking to ramp up their investment plans amid a booming real estate sector driven by technology. Leading proptech firms like Square Yards, Aurum PropTech, Spyre Proptech, and Relata.io have major investment plans in the short to medium term to expand their businesses.

The entire real estate industry is experiencing a notable shift towards luxury living, with 2024 as the turning point in this process. This transition reflects not only shifting consumer choices but also the dynamism for urban living in one of India’s most vibrant regions. As developers, we are at the forefront of this movement, inspired by a desire to create spaces that are beyond the ordinary space that radiates elegance and refinement.

In the ever-evolving landscape of the real estate market, a new player is stepping into the game – Generation Z. As the eldest members of this demographic cohort begin to explore homeownership, the industry is witnessing a paradigm shift in trends and preferences. Developers, agents, and sellers keen on staying ahead of the curve must familiarize themselves with the unique characteristics and values that shape the housing choices of Generation Z.

The second phase of a door-to-door survey of Dharavi residents to determine eligibility for free housing will begin on April 1 on Monday from Kamla Raman Nagar area for the redevelopment project of Asia’s largest slum. On March 18, a survey began in Dharavi where its residents were given unique identification numbers for their homes. It was followed by laser mapping of the respective lanes.