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.
Leading real estate developer Lodha has recently sold a penthouse called ‘Emperor Palace’ for a whopping Rs 37 crore, the “most expensive” property deal in the luxury apartment segment, according to a report by the luxury real estate firm. This sprawling 12,000 sq/ft penthouse, part of Lodha One project at Bund Garden in Pune, is an elegant property developed by Macrotech Developers, which functions under the brand name Lodha. The Lodha One project is known for its picturesque location and opulent design.
Magicbricks, India’s leading real estate platform, has unveiled its instant property valuation tool PropWorth, It is powered by an advanced machine learning algorithm to assist buyers and sellers evaluate the estimated price for any property.
Trained on 15 years of data and over 30 million listings, PropWorth covers 50,000 projects in 5,500 localities across 30 cities, offering comprehensive valuations for various property types, including apartments, independent houses, and villas.
Realty developer Alphacorp has entered into a joint venture to develop a luxury residential project in Gurgaon, with an investment of Rs 350 crore. The company will develop 500,000 sq ft on two 2 land parcels - one 2.38 acre and another 2.36 acre. There will be 29-floors and the company will develop 200 units, expecting a revenue of Rs 600 crore.
In 2023, Gurugram emerged as the leader in India’s booming real estate market and continues to maintain its dominance in Delhi-NCR. According to data from Magicbricks, Gurugram experienced an impressive quarter-on-quarter growth of 28.9%, surpassing the national average of 10.4%. Major infrastructure projects like the Dwarka Expressway and the announcement of a dedicated Metro network have further fuelled the city’s real estate prospects.
Office space absorption in India’s six major cities reached a record high of 34.8 million square foot (msf) in the first half (H1) of 2024, according to a report by real estate advisor Savills India. This marks the strongest H1 ever recorded, representing a significant 29% increase compared to H1 2023. Meanwhile, new office space supply witnessed a sharp decline of 32% year-over-year (YoY), with only 17.4 msf completed in H1 2024. This limited supply, coupled with increased transaction activity, led to a decrease in the overall vacancy rate.
The balcony of an apartment in the heart of Sydney was listed for rent as a “room” at an astonishing 360 Australian dollars a week (over ₹81,000 a month), leaving the internet baffled. An advertisement posted on FaceBook Marketplace earlier this month listed a “room” for rent Haymarket in the central business district of Sydney, Australia's largest city. In the listing, the balcony is described as a “sunny room” that accommodates one person. The rent of $360 a week includes bills, the ad said.
Flat owners in Bengaluru are demanding that the title deeds of the plots on which their apartments stand be transferred to their association by executing a registered conveyance deed. This move comes in response to the alleged reluctance of many builders in Bengaluru and other parts of Karnataka to comply with this legal requirement, allowing some promoters to mortgage the land or initiate new construction projects even years after the apartments have been sold.
Buoyed by the success of its residential plots scheme last year, the Yamuna Expressway Industrial Development Authority (YEIDA) has again put on sale over 350 residential plots in four different sectors near upcoming Noida International Airport, officials aware of the matter said. Under the scheme, the Authority is offering around 361 plots of seven different sizes. The registrations for the plot scheme will close on August 5. The plots will be allotted through lucky draw in September.
The resilience of Indian real estate shone amid global economic challenges as institutional investments surged to USD 4.8 billion across 40 Deals in H1 2024 (January-June). This already represents 81% of the total investments in 2023, which amounted to USD 5.8 billion, according to a new assessment. Unshakeable investor confidence in India prevails amidst global uncertainties and the election season, exemplifying the country’s robust economic growth story, real estate consultancy JLL said in a report.
