Advertisement
The Karnataka Housing Board (KHB) has announced Heritage Heights, a seven-floor apartment project at Kenchalagudu, near Mysuru, with an estimated cost of INR 99 crore. The development will include 196 two- and three-bedroom flats, built on a 1.5-acre site within a larger 180-acre layout where KHB has already sold 2,397 sites. Despite MUDA halting its group housing plans, KHB is proceeding based on strong demand survey responses. Located 2.5 km from the Outer Ring Road on HD Kote Road, the complex will feature modern amenities such as a clubhouse, gym, swimming pool, solar power, car parking, playgrounds, and 24/7 water and security-mirroring Bengaluru-style developments.
India's office sector is poised for strong growth in 2025, driven by economic stability, talent availability, and supportive policies. CBRE's 2025 Outlook highlights increased supply of high-quality office spaces, especially within integrated tech parks. Key markets like Bengaluru, Hyderabad, Mumbai, and NCR will dominate, while Pune, Chennai, and tier-II cities gain traction. Leasing demand will be led by tech firms, BFSI, media, and Global Capability Centres (GCCs), with flexible spaces growing in popularity. Investment activity remains robust, with rising interest from domestic and global investors. Small and Medium REITs (SM REITs) are emerging as a strategic option for mid-sized developers, reflecting a transforming, resilient commercial real estate landscape.
The Dharavi Redevelopment Project has marked a key milestone by surveying over 63,000 tenements, surpassing the 2007-08 figure of 60,000. Unlike past surveys that focused only on ground-floor units, the current initiative includes upper floors, ensuring a more inclusive rehabilitation process. Over 95,000 tenements have been mapped, and 89,000 units numbered, with strong resident participation. Navbharat Mega Developers plans to construct around 1.5 lakh tenements, addressing Dharavi's dense, vertical growth. Officials emphasize that non-participation in the survey could forfeit housing benefits. This progress signals a transformative step toward comprehensive urban renewal, with community engagement and careful execution vital for delivering sustainable housing without disrupting the area's social and economic fabric.
On March 27, 2025, Kerala CM Shri Pinarayi Vijayan laid the foundation stone for the Wayanad Model Township at Elston Estate, Kalpetta, to rehabilitate families affected by the July 2024 landslides and floods. Spanning 64.4 hectares, the township will include 430 expandable homes, each on a seven-cent plot, and feature amenities like a market, anganwadi, community center, water and sewage systems, and solar power. Funded through the CM's Distress Relief Fund (INR 734.68 crore), the initiative is part of the Rebuild Kerala program. It mirrors similar holistic rehabilitation efforts, such as those in post-flood Uttarakhand, emphasizing sustainable housing, healthcare, education, and disaster resilience.Read more
Sanjeev Agarwal, CEO of global pharma firm Althera, has purchased three luxury apartments in Raheja Modern Vivarea, South Mumbai, for INR 72.65 crore, as per property registration documents accessed by Zapkey.com. The acquisitions were made in two phases, with the first two apartments bought on February 17, 2025, for INR 26.42 crore and INR 20.09 crore, while the third was purchased on May 22, 2024, for INR 26.14 crore. The combined RERA carpet area of the properties exceeds 8,100 sq ft, and the deal included seven car parking spaces. A stamp duty of approximately INR 4.35 crore and a registration fee of INR 90,000 were paid. This purchase adds to the trend of high-value real estate transactions in South Mumbai, following acquisitions by Nirmal Bang Securities' promoters and Creative Plastics Group in recent years.
Advertisement
Senior living and multi-generational community developer Primus is planning an INR 1,500 crore investment to expand its footprint in India. The company aims to develop integrated communities that cater to diverse age groups, combining senior living with family-friendly amenities. These projects will feature healthcare services, recreational spaces, and assisted living facilities, promoting a seamless and inclusive living experience. The investment reflects the rising demand for housing solutions that address the needs of both elderly residents and younger generations, offering a holistic lifestyle approach.
Dhani Services Limited announced that its subsidiary, Indiabulls Urbanresidency Limited, has secured registration from Haryana Real Estate Regulatory Authority (HRERA) Panchkula for its residential project 'Indiabulls Green Avenue' in Sector 2, Kharkhauda, Sonipat. The HRERA approval, granted on 19th March 2025 under registration number HRERA-PKL-SNP-676-2025, aligns with the license issued by the Department of Town and Country Planning (DTCP), Haryana. The company stated that this approval will aid in monetizing its real estate assets and enhance liquidity as part of its broader financial strategy. The development reflects Dhani's ongoing efforts to strengthen its presence in the real estate sector while ensuring regulatory compliance.
Bollywood actress Kajol Devgan has sold her 762 sq ft apartment in Hiranandani Gardens, Powai, for INR 3.1 crore. The property, located on the 21st floor of Atlantis Co-Operative Housing Society, comes with two stack car parking spaces, with a per sq ft rate of approximately INR 40,682 based on the RERA carpet area. The deal was registered on March 20, with Vrushali Rajnish Rane and Rajnish Vishvnath Rane as the buyers. This transaction follows Kajol's recent purchase of a 4,365 sq ft commercial space in Goregaon West for INR 28.78 crore earlier this month. In 2023, she acquired an office space in Andheri West for INR 7.64 crore and an apartment in Mumbai for INR 16.50 crore. Meanwhile, her husband, Ajay Devgn, had leased out a commercial office space spanning 3,455 sq ft in Mumbai for a monthly rent of INR 7 lakh last year.
Gujarat International Finance Tec-City (GIFT City), India's first operational smart city and International Financial Services Centre, has further solidified its status as a global financial hub by achieving higher rankings in multiple categories in the latest Global Financial Centres Index (GFCI 37). GIFT City has secured the top spot in Reputational Advantage, advanced from 45th to 40th in the FinTech ranking, and climbed from 52nd to 46th in the overall ranking. Additionally, it continues to hold its position among the top 15 financial centres in the Asia-Pacific region. The improvements reflect its growing global reputation, investor confidence, and role in financial innovation.Read more
As Maharashtra celebrates Gudi Padwa, CREDAI MCHI Thane has extended warm greetings to its members, real estate stakeholders, and the citizens of Thane. This festival coincides with a significant transition within the organisation, as the new Managing Committee assumes charge from the beginning of April 2025. Gudi Padwa, symbolising new beginnings and prosperity, aligns with the association's commitment to sustainable, affordable, and high-quality housing. The real estate sector in Thane has experienced notable growth due to its strategic location, connectivity, and infrastructure. The new leadership has pledged to uphold transparency, accountability, and ethical business practices, ensuring the welfare of its members and customers.Read more
Advertisement
