Considerable attention has been devoted to the rising demand for luxury and ultra-luxury homes in India, commanding prices upwards of Rs 1 crore. Equally discussed has been the marked decline in interest for affordable units, priced below Rs 50 lakh. However, there hasn't been much discussion about the mid-segment that connects these two extremes.
Bullish on housing demand, realty firm Macrotech Developers has acquired three land parcels in the Mumbai region and Pune during the April-June quarter to develop projects with a revenue potential of more than Rs 11,000 crore. Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, is acquiring land parcels through two routes — outright purchases and partnerships with landowners.
Redevelopment is gaining traction as a major strategy for real estate developers, especially in crowded cities like Mumbai. Here’s why: Limited Land Availability: With sprawling urban areas, there’s just not a lot of vacant land left for new construction. Redevelopment offers a way to utilize existing plots and create more living space. Aging Infrastructure: Many older buildings lack modern amenities and may have structural concerns. Redevelopment allows for the creation of updated living spaces that meet current standards.
OLX is broadening its offering in one of its focus categories, real estate, by featuring new property launches from prominent real estate developers. With a robust user base of 35 million monthly active users (MAU), this strategic expansion will provide their users access to a wide array of brand-new commercial and residential properties from top real estate developers. Pune is the third largest residential real estate market among the top seven cities in India, accounting for 19% of the area sold in FY2023 and is expected to maintain its share at a similar level in FY2024.
The Noida Authority announced a significant six per cent increase in land allotment prices for the financial year 2024-25 following its 214th board meeting on Friday. The decision is set to impact the rates for group housing, institutional and industrial sectors. The meeting was chaired by UP Chief Secretary and Authority Chairperson Manoj Kumar Singh and attended by Noida Authoriy CEO Lokesh M and Additional CEO Ravindra Kumar along with various board members.
Bollywood star Kriti Sanon has made her first investment with The House of Abhinandan Lodha (HoABL) by acquiring 2000 sq feet of land in their premium Alibaug project, Sol de Alibaug. Her investment reinforces HoABL’s position as the go-to destination for elite land investments, as it continues to redefine luxury living and exclusive land ownership in India.
Hyderabad's real estate market is experiencing a boom, fuelled by a significant surge in property registrations and building permissions. This upswing is particularly evident in residential property registrations, which have witnessed a 12.5 per cent increase between December 2023 and June 2024 compared to the same period last year.
South India’s data centre market is on an impressive growth trajectory, with major cities like Chennai, Bangalore and Hyderabad at the forefront, according to the latest report by Colliers. This surge is supported by substantial government incentives, strategic infrastructure investments and a rising demand for digital services. The region is poised to play a crucial role in the global data centre landscape, with capacity projected to grow 65% by 2030.
India's most valuable real estate firms have a cumulative value of ₹14.2 lakh crore and DLF has emerged as the top real estate company with a valuation of more than ₹2 lakh crore, according to the 2024 GROHE-Hurun India Real Estate 100. Following DLF, Macrotech Developers holds the second position with a valuation of ₹1.4 lakh crore, and Indian Hotels Company ranks third with ₹79,150 crore, the seventh edition of Grohe-Hurun India Real Estate 100 List showed.
Sales of luxury homes costing Rs 10 crore and above in Mumbai have risen 8%, making another new high of Rs 12,300 crore in H1 CY’24, compared to Rs 11,400 crore in H1 CY’23, according to a report by India Sotheby’s International Realty and CRE Matrix.
