Advertisement
The Lucknow Development Authority (LDA) has officially launched the registration process for the Anant Nagar Housing Scheme, offering modern and affordable housing options to city residents. The first phase of registration includes over 340 plots in Khand 6, Adarsh Khand. The project, spanning 800 acres with an investment of INR 7,000 crore, will provide 10,000 flats and 4,000 residential plots. It includes provisions for Economically Weaker Sections (EWS), Low-Income Groups (LIG), and PMAY housing. Additionally, 130 acres will be dedicated to parks, green spaces, and educational facilities, with the project aiming to serve 1.5 lakh people.
According to a CBRE report, India's office leasing market saw significant growth in Q1 2025, with 18 million sq. ft. absorbed, reflecting a 5% year-on-year increase. The banking, financial services, and insurance (BFSI) sector recorded a 100% YoY growth, contributing 26% of total absorption. Global Capability Centres (GCCs) played a key role, accounting for 45% of the total leasing. Bengaluru, Delhi-NCR, and Mumbai led leasing activity, with strong demand from BFSI, technology, and life sciences sectors. Additionally, 81% of office leases were in green-certified buildings, underscoring a focus on sustainability.
The House of Abhinandan Lodha (HoABL) has lodged a complaint with Mumbai police over allegations of forgery made by Macrotech Developers, accusing it of using forged documents to exploit the 'Lodha' trademark. The case stems from HoABL's attempts to rename four group companies, initially rejected by the Registrar of Companies, which were later approved following a resubmission of documents. Macrotech Developers had earlier filed a court case in January, claiming trademark infringement and a breach of a 2023 agreement.
ICRA projects a 6-9% increase in new real estate launches in India's top seven cities for FY26, reaching approximately 620-640 million sq ft. This follows an estimated 14-17% decline in FY25 due to approval delays. Factors such as low inventory overhang and anticipated policy rate cuts are expected to support this growth.
Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired a 48,491 sq ft plot along with a 257 sq m structure in South Mumbai's Carmichael Road area, Malabar Hill, for INR 170 crore, according to property registration records accessed by CRE Matrix. The seller, Behram Nowrosji Gamadia, transferred ownership of this pre-independence legacy asset on 27 March 2025. Stamp duty of INR 10.46 crore and a registration fee of INR 30,000 were paid. This rare transaction follows another high-profile sale last month, in which the Laxmi Nivas bungalow on Nepean Sea Road was sold for INR 276 crore to a firm linked to the Reliance Group.
Advertisement
Japan's Sumitomo and a Brookfield-led consortium have emerged as the highest bidders for three premium land parcels auctioned by the Mumbai Metropolitan Region Development Authority (MMRDA) in Bandra Kurla Complex (BKC), raising over INR 3,839 crore. The bids significantly exceeded the reserve price of INR 2,973 crore set last year. Sumitomo won plots C-13 and C-19 with offers 39.61% and 40.20% above reserve rates, while a consortium including Schloss Bangalore secured plot C-80 at a 12.34% premium. The plots, located in BKC's G Block, will be leased for 80 years.
Deputy Chief Minister Shri Eknath Shinde has directed the formation of a committee to identify land and formulate conditions for providing ownership homes to residents of the Bandra government colony. Spread over 125 acres, the colony includes 5,000 staff quarters and has long-awaited redevelopment plans. A delegation from the Government Quarters Residents' Association (GQRA) proposed 16 acres for 2,700 homes, offering to pay INR 200-250 crore at concessional rates. The move follows increased urgency after the Supreme Court's directive to allocate land to the Bombay High Court for a new complex.
The Maharashtra Housing and Area Development Authority (MHADA) on 4 April successfully conducted a computerised lottery draw, allotting 663 rehabilitation tenements to eligible residents of the Patra Chawl (Siddharth Nagar) redevelopment project in Goregaon (West), Mumbai. The project, delayed for nearly 15 years, has now received its Occupancy Certificate and offers 686 parking spaces, exceeding the regulatory requirement. MHADA assured continued rent compensation until May 2025 and free structural repairs for a year post-possession. Initially assigned to Guru Ashish Construction in 2008, MHADA took over the project four years ago following construction delays.
Foreign companies rented 111.6 lakh sq ft office space in January-March this year across nine major cities, contributing 62% to the total demand, according to CBRE. Anshuman Magazine, Chairman & CEO -- India, South-East Asia, Middle East & Africa, CBRE, said that established hubs like Bengaluru, Hyderabad, Delhi-NCR, and Mumbai continue to lead, while cities like Chennai and Pune are gaining traction due to a strong talent base and a well-positioned supply pipeline. "As businesses seek quality workspaces, the demand for sustainable offices is rising, with occupiers prioritizing employee experience and long-term growth. A key factor shaping this momentum is the growing presence of Global Capability Centres," Magazine said.
Source: PTI
Chennai-based land aggregator and real estate firm G Square Realtors Pvt Ltd aims to double its revenue to INR 5,000 crore in the current financial year. The company is expanding across Tamil Nadu, Karnataka, and Hyderabad, including tier-2 towns. Established in 2012, G Square initially catered to corporate clients before entering the B2C market in 2021. The company has acquired over 4,000 acres and served more than 15,000 customers. It recently launched 'Aranya,' a premium residential project in Porur, Chennai, with plots priced between INR 4,290 and INR 6,000 per sq ft. The firm is also planning an IPO by 2028.
Advertisement
