Godrej Properties (GPL) has clocked sales of INR 1,000 crore from its recently launched residential project, Godrej Evergreen Square, in Pune. The firm sold more than 1,398 apartments over 1.23 million square feet, which is the most successful project launch in the city for GPL both in value and volume. The Hinjewadi project was launched in November 2024, only four months after the acquisition of land. With a developable area of 2.41 million square feet, the project is expected to yield INR 2,045 crore in revenue. Pune has been one of GPL's core markets, and it has contributed heavily to its record pre-sales of INR 12,929 crore in FY23. The good reaction to this launch reflects increased housing need in Hinjewadi, a key IT destination. In spite of such successes, shares in Godrej Properties closed 2.23% down at INR 1,986.20 on the BSE earlier this week.Read more

The Maharashtra government has decided to rehabilitate approximately 18,000 slum households from the Sanjay Gandhi National Park (SGNP) to Thane district, as per directives from the chief minister. At a recent meeting, the city and suburban collectors conveyed their inability to provide land for rehabilitation, prompting the decision to relocate residents closer to Mumbai, excluding Palghar. Previous rehabilitation plans, including 90 acres in Aarey Colony, faced legal hurdles, with a high court stay impeding progress. The state government, under scrutiny from the Bombay High Court for inaction, has also proposed a protective wall around SGNP at a cost of approximately INR 196 crore.Read more

Morgan Stanley Advantage Services is expanding its Bengaluru footprint with a 1.2 million sq ft office campus along the Outer Ring Road, set to accommodate 12,000 employees. Bengaluru, India’s top city for office leasing, recorded 21.8 million sq ft transactions in 2024, with 27% of India’s total office leasing. The city’s infrastructure, skilled workforce, and green-certified spaces attract global firms like Chevron, which is investing USD 989 million in an R&D hub. Morgan Stanley is also expanding in Mumbai with 86,000 sq ft at Altimus Worli. India’s GCC market is projected to grow to USD 100 billion by 2030.Read more

Following an overwhelming response to its ongoing residential projects, the Jaipur Development Authority (JDA) is set to introduce three new housing schemes. These developments, located in Mansharampura (Jhotwara), Kardhani (Bassi), and Bainad (Daulatpura), will feature both residential and commercial plots, with 850 residential plots available. The application process is expected to be announced in the coming days. The move comes after JDA's earlier projects-Atal Vihar, Govind Vihar, and Patel Nagar saw nearly 175,000 applications for just 756 plots. Given the city's expanding urban landscape and a history of high demand for JDA plots, these new schemes are expected to attract significant interest from homebuyers and investors alike.Read more

Gramercy Info Park Pvt Ltd, a subsidiary of Pune-based Panchshil Realty, has acquired two industrial land parcels in Navi Mumbai's Ghansoli area for INR 615 crore, according to Propstack.com. The first parcel, spanning 73,600 sq m in the TTC Industrial Area, was purchased for INR 235.34 crore, while the second, covering 1.18 lakh sq m, was acquired for INR 379.65 crore. Panchshil Realty, known for luxury developments, has previously partnered with the Trump Organization for Trump Towers in Pune. The TTC Industrial Area has experienced a 9.05% rise in property values over the past year. This acquisition highlights the increasing demand for industrial and commercial spaces in Navi Mumbai and strengthens Panchshil Realty's presence in the Mumbai Metropolitan Region.Read more

As part of its commitment to social responsibility, CREDAI-MCHI has extended its support to Mumbai Mobile Creche, an NGO dedicated to the education and welfare of children of construction workers. CREDAI-MCHI has contributed a CSR grant of INR 2,01,000 along with play kits to create an engaging and supportive environment for these children. The announcement was made during the MCHI Premier League (MPL) 11, a three-day cricket tournament, reinforcing the importance of combining sportsmanship with social causes. CREDAI-MCHI's leadership highlighted the significance of providing equal opportunities to underprivileged children, ensuring their overall development. The initiative also encouraged industry-wide participation through sponsorships, fostering inclusivity. As a key player in the real estate sector, CREDAI-MCHI continues to integrate social responsibility into its growth strategy to create a sustainable and equitable society.Read more

Mumbai is experiencing a wave of redevelopment projects, with major developers investing over INR 6,000 crore to transform aging housing societies and slum clusters. Arkade Developers is redeveloping Nutan Ayojan CHS in Malad West with a GDV of INR 740 crore, alongside projects in Dahisar East and Goregaon West, expected to generate INR 1,700 crore and INR 2,000 crore, respectively. Mahindra Lifespace's Mahalaxmi project with Livingstone Infra has a GDV of INR 1,650 crore. The Dharavi redevelopment has begun, with Adani Group starting work on a 6.4-acre site, while a 17-acre slum redevelopment in Worli aims to rehouse 3,200 families. MHADA has issued 1,200 notices to expedite stalled projects, underscoring the city's rapid urban renewal.Read more

Landmark Developers and Sobha Ltd. purchased a 2.11-acre landholding along Jerbai Wadia Road, Parel, for INR 423.38 crore. The transaction, registered this week, is likely to open the doors for luxury residential and commercial areas. Sobha Ltd. has acquired a greater majority of the free-sale part, whereas Landmark Developers received a smaller portion. This transaction highlights the increasing interest in prime Mumbai locations, particularly for large-scale redevelopment projects. With Mumbai's real estate market witnessing a surge in land deals, infrastructure advancements and redevelopment efforts continue to drive demand for prime locations.Read more

Chennai's commercial real estate market is on a strong growth trajectory, with office space expected to exceed 100 million square feet by the end of 2026, up from 89 million square feet currently. Private equity investments have reached USD 1.19 billion in the past two years, supporting the development of modern office spaces. While the tech sector has traditionally dominated, the banking, financial services, and insurance (BFSI) sectors, along with life sciences, are increasingly driving demand. In 2024, life sciences absorbed 0.8 million square feet, a 60% jump from 2023. Additionally, Chennai ranks third in Global Capability Center (GOC) leasing, with 2.9 million square feet leased in 2024. Other Tamil Nadu cities, including Coimbatore, Madurai, and Tiruchirappalli, are also witnessing commercial real estate growth, reflecting the region's evolving economic landscape.Read more

The presence of Global Capability Centres (GCCs) of multinational corporations has been expanding in India's office space market over the past few years. According to ANAROCK Research, the top seven cities recorded over 141.43 million sq. ft. of gross leasing in 2023 and 2024, with GCCs contributing 52.88 million sq. ft., accounting for more than 37% of the total share. Bengaluru led the market with a 46% share, followed by Hyderabad with 19%. The increasing economic influence of India, infrastructural advancements, and government policies such as 'Make in India' have contributed to this surge in demand. Moreover, the growing focus of GCCs beyond the IT/ITeS and BFSI sectors into engineering and manufacturing is further driving market expansion.Read more