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The Indian construction sector is set for significant growth, with EPC players poised to benefit from over INR 100 billion in opportunities under the Namami Gange Programme (NGP), according to ICRA. Despite the program's sunset date in March 2026, the slow pace of execution may prompt an extension. NGP has an estimated pending outlay exceeding INR 150 billion, offering healthy margins for EPC firms due to lower competition compared to other infrastructure sectors. Since its launch in 2014, NGP has focused on rejuvenating the Ganga, with 492 projects worth INR 401.2 billion initiated, 307 of which are operational. Challenges persist, including land acquisition delays and procedural hurdles, but funding support from the World Bank, PPP models, and CSR initiatives has bolstered project momentum. Additionally, allocations to the Ministry of Jal Shakti have grown at a 21% CAGR, reaching INR 995 billion in FY2026 BE, highlighting the government's push in the Water Supply and Sanitation segment.
Brigade Group, a prominent real estate developer in India, has acquired a 4.4-acre land parcel in Whitefield, East Bengaluru, to launch a premium residential project with a Gross Development Value (GDV) of approximately INR 950 crore. The upcoming development will offer around 0.6 million square feet of residential space, featuring modern amenities and luxury specifications. The project aims to capitalize on Whitefield's excellent connectivity and vibrant social infrastructure, reinforcing Brigade Group's position in Bengaluru's upscale housing segment.
Citicorp Services India Pvt Ltd has leased 7.7 lakh sq. ft. from Panchshil Business Spaces Pvt Ltd for approximately 10 years, with a total rental value of INR 1,096 crore. The leased space, located in Panchshil Business Hub, Kharadi, spans 10 floors, from levels 7 to 16, and was secured through three separate transactions. Monthly rents range from INR 2.01 crore to INR 2.70 crore, with a 15% escalation every three years. The lease, which includes over 770 car and 1,185 two-wheeler parking spaces, has a lock-in period of 4 to 5 years and a security deposit of INR 20.35 crore. The lease will commence in phases between April 2025 and April 2026. This deal further strengthens Pune's position as a prime corporate destination, aligning with the increasing trend of large office space transactions in the city.
Cricketer Suryakumar Yadav and his wife, Devisha Yadav, have acquired two luxury apartments in Deonar, Mumbai for INR 21.1 crore. The units, located in Godrej Sky Terraces, span a combined carpet area of approximately 4,222.7 sq. ft. and come with six designated parking spaces. The transaction, registered on March 21, incurred a stamp duty of INR 1.26 crore and a registration fee of INR 30,000. The project, covering 1.05 acres, has recorded 25 sales worth INR 202 crore in the past year, with an average price of INR 52,433 per sq. ft. Deonar offers strong connectivity via the Chembur railway station, Mumbai Monorail, and key expressways. Meanwhile, other notable real estate transactions in Mumbai include Zaheer Khan's INR 11 crore apartment purchase in Elphinstone Road and Rohit Sharma's Lower Parel property rental for INR 2.6 lakh per month.
Brookfield Group's subsidiary, Moon Holdings, has acquired a 6-acre land parcel in Mumbai's Powai through a structured deal with two Supreme Infrastructure Group companies for approximately INR 115 crore. The acquisition strengthens Brookfield's commercial real estate portfolio, which currently spans 55 million sq. ft. across India. Located near Supreme Business Park in Hiranandani Gardens, the land is part of a 30-acre parcel earmarked for road development by MMRDA. While Brookfield's subsidiary gains control of the asset, future development hinges on resolving encumbrances linked to the original landowner, positioning the deal as a strategic step in expanding its Mumbai office space footprint.
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Residents of Chandshi village in Nashik have urged the Nashik Metropolitan Region Development Authority (NMRDA) to allocate smaller-sized plots in the upcoming town planning scheme. The project, covering 100 acres, aims to provide developed land with essential infrastructure, returning 60% of land to farmers. Villagers argue that smaller plots are more practical for sale and development. NMRDA Commissioner Manikrao Gursal acknowledged their concerns and assured further discussions. Similar schemes in Nashik's Makhmalabad area have balanced infrastructure improvements with landowner benefits, reflecting a collaborative approach to urban planning.
Residents of Towers A, B, and C of Chintels Paradiso Group Housing Society in Gurugram were directed to vacate their flats immediately. The directive followed a structural audit report by the Central Building Research Institute (CBRI), which declared the towers unsafe for habitation. The Deputy Commissioner of Gurugram issued the evacuation order under Section 163 of the Indian Civil Defence Code, granting a 15-day window for compliance. The decision comes after the partial collapse of six floors of Tower D in February 2022, which had resulted in two fatalities. The District Magistrate cited imminent threats to life and property as the basis for the order, further warning of legal action for non-compliance.
Aruna Babulal Varma, the wife of Omkar Realtors' promoter Babulal Varma, purchased a high-end apartment at Four Seasons Private Residences in Mumbai's upscale Worli locality for INR 68 crore, as revealed by property registration documents. The apartment spans 5,291 sq ft, featuring an additional 310 sq ft balcony and an exclusive area of 922 sq ft. The transaction was reportedly registered at a rate of INR 1.29 lakh per sq ft. Stamp duty of INR 3.42 crore and a registration fee of INR 30,000 were paid for the acquisition. The sale was made by Providence Land Private Limited. Worli continues to attract premium real estate deals, including a recent record-breaking sale by Macrotech Developers.
Ravi Puravankara, founder and chairman of Puravankara Ltd, has acquired 12 commercial units in Business Park 2, Church Road, Marol, Andheri, Mumbai, for a total of INR 242 crore. The purchases were made through RockFort Estate Developer Pvt Ltd and registered on March 19, 2025. The units ranged from 6,749 to 9,998 square feet, with prices between INR 15.65 crore and INR 23.19 crore per unit. This acquisition aligns with Puravankara's investment strategy via its family office. The company continues to strengthen its portfolio, having recently secured prime land in Bengaluru and Thane for large-scale residential and mixed-use developments.
India's housing market experienced a sharp slowdown in Q1 2025, with sales in the top nine cities declining by 23% and new housing supply dropping by 34%, according to PropEquity. This marks the third consecutive quarter with new supply below 100,000 units. Bengaluru and Delhi NCR remained resilient, recording a 10% rise in sales. Rising home prices and economic uncertainties contributed to the slowdown, with speculative investors exiting the market. However, demand for existing inventory remains strong, and infrastructure developments are expected to drive long-term growth, particularly in cities with robust employment opportunities.
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