Living standards in cities have improved owing to rapid urbanisation, however space availability is a challenge. This is compelling communities to embrace vertical living, reshaping the essence of urban landscapes. While vertical living in cities appears as a feasible solution to the space constraints, they also cause a sense of social disconnection, reduced sense of belonging and isolation. As architects, it is important to have a better community living and design structures or buildings that foster a social connection.

Swedish home furnishing brand IKEA, has signed an MoU with Rhenus, a global logistics firm, to set up a large warehouse facility near Gurugram to boost home delivery experience for its customers in the Delhi-NCR region. The warehouse facility that measures 1.5 lakh square foot, will come up in Farrukhnagar near Gurugram. It will cater to the IKEA's e-commerce as well as offline business. The warehouse facility is capable of storing and fulfilling over 7,000 products

Table Space, a managed office solutions firm, has recently leased over 2.5 million sq ft of flexible office space across four major Indian cities, to expand its portfolio to meet the growing demand for managed workspaces. The new assets will come up across Chennai, Mumbai, Hyderabad, and Bengaluru. In Chennai, Table Space has acquired two large Grade A properties - over 500,000 sq ft at Mapletree Global Infocity Park and 160,000 sq ft with DLF. Along with its existing asset, KRC Commerzone in Porur, the company now possesses three premium properties in the city.

INDIA’S top real estate firm DLF reported a nearly 62 per cent rise in fourth-quarter profit on Monday (May 13), aided by strong demand for its premium housing projects and sustained growth momentum from projects launched in previous quarters. The company’s consolidated net profit rose to 9.21 billion rupees (S$149.1 million) in the three months ended March 31, from 5.70 billion rupees a year earlier.

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The return-to-office mandate has prompted a significant migration of people back to their work cities, consequently driving up the demand for rental properties. This has led to rentals in Bengaluru hitting the roof. The IT city itself has witnessed rents increasing by almost 30% and this has meant prospective tenants shell out almost 7 to 10 months of rent as security deposit to landlords.

Luxury housing (units priced at Rs 4 cr and above) in India has recorded a 10% YoY sales growth during the first quarter of 2024, while a ~64% YoY increase was witnessed in the new launches of luxury homes during this period, according to a recent CBRE report. City-wise, Mumbai recorded the highest surge in unit sales during the review quarter, recording a 15% YoY increase in the luxury segment, which was followed by Delhi-NCR, Hyderabad, and Pune.

Tier-2 cities or non-metros are giving tough competition to top metro cities in the country in terms of infrastructure development, as a result attracting NRIs and resident Indians to invest. These emerging cities on account of improved life standard, good educational and healthcare facilities, competitive cost of living and rapid economic growth potential score over their metro counterparts.

Ridham Gada, Partner at Prem Group, a renowned real estate group based in Mumbai, has been elected as the new President of National Real Estate Development Council (NAREDCO) Maharashtra NEXTGEN, the youth wing of the realtors’ organization. Gada takes over the role from Rishabh Siroya. NEXTGEN aims to create a platform where young professionals in the real estate sector can come together to share experiences, enhance their skills, and influence the industry positively

Real Estate in Delhi-NCR: Noida, a well-planned satellite city has emerged as one of the important realty destinations in Delhi-NCR. The city is well connected with metro lines, expressways, a flyover, an upcoming RRTS link, and Noida International Airport. According to the Magicbricks’ Rental Index (January-March 2024) Report, Transit Oriented Development (TOD) plays a significant role for the major rental players.

Being the fastest-growing economy, India remains at the focal point as we journey towards becoming the third-largest economy in the world. The Indian real estate market witnessed an unprecedented surge in 2023, surpassing all expectations and setting new records. A big booster to housing demand has been the increased importance of owning a property backed by consumer confidence in the overall vibrant economic scenario.

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