The Indian housing market has undergone significant changes post-COVID-19, with affordable housing demand declining sharply. The ANAROCK-FICCI H1 2024 survey reveals 53% buyer dissatisfaction with affordable options, while affordable housing supply dropped from 40% in 2019 to 17% in 2024. Buyer preferences have shifted toward premium properties, with 45% now seeking homes above INR 90 lakh. Ready-to-move-in versus new launch preferences have reversed from 46:18 to 20:25. Investment focus has turned to rental income, driven by 70% rental rate increases. Regional variations show Southern cities preferring plots and villas, while MMR, NCR, and Pune favour apartments.Read more

India has emerged as the undisputed global leader in hosting Global Capability Centres (GCCs), with over 1,800 centres serving more than 1,400 multinational corporations, of which over 100 new centres were added in just the past two years. GCCs occupy over 240 million square feet of Grade A office space across India's top seven cities. In the last 18 months alone, GCCs have leased 35.2 million square feet of space in India. As per JLL India, the number of GCCs in India is expected to exceed 2,300 by 2026-27, occupying more than 280 million square feet. The future appears bright for India's GCC sector, with GCCs accounting for approximately 50% of active, ongoing space requirements across the top seven cities.Read more

Mumbai's real estate market is thriving this festive season, with a surge in property registrations during Navratri highlighting increased buyer confidence. Demand for luxurious living spaces and ultra-luxury villas is rising, as families seek homes that fit their evolving lifestyles. Infrastructure improvements and attractive loan schemes further boost investment opportunities, making this an ideal time for homeownership.Read more

A recent CREDAI-MCHI report reveals that Mumbai remains India's priciest city for rental housing, with 1 BHK rents averaging INR 5.18 lakh annually, far outpacing the salaries of junior employees. Mid- and senior-level professionals are also burdened by high rental costs, leading many to consider relocating to more affordable cities like Bengaluru and Delhi-NCR. The report warns of a potential talent drain as rising costs and unaffordable housing may drive skilled professionals out of Mumbai, jeopardizing the city's workforce and future real estate investments.Read more

Pune's property market saw high growth in the year 2024, with 1,38,412 registrations during the first nine months, up 29% year-on-year (YoY). Stamp duty collections surged by 38%, exceeding INR 5,253 crores. However, September 2024 witnessed a 33% drop in property registrations due to the inauspicious 'Shraadh' period, leading to a 13% decline in stamp duty collections to INR 508 crores. Luxury properties worth INR 1 crore and above rose to 14%, while demand for larger homes continued. Central Pune dominated with 80% of transactions, though West Pune's share grew to 12%, reflecting the city's evolving residential preferences.Read more

Shareholders of Reliance Infrastructure have overwhelmingly approved a plan to raise INR 6,000 crore through a preferential issue of shares and qualified institutional placement (QIP). Over 98% of votes favored the resolutions via postal ballot. The fundraising, approved by the board on September 19, includes INR 3,014 crore from the preferential allotment of 12.56 crore shares at INR 240 each, with significant investments from promoters and key investors. This initiative will boost Reliance Infrastructure's net worth from INR 9,000 crore to INR 12,000 crore and nearly eliminate its debt, positioning the company for growth and enhanced shareholder value.Read more

Primus Senior Living has raised USD 20 million in seed funding, led by General Catalyst with participation from Nikhil Kamath and Gruhas. The funding will fuel Primus' mission to create India's first full-stack solution for senior care, offering healthcare, lifestyle support, and proactive aging services directly to elders' homes. By building intergenerational communities and leveraging technology, Primus aims to ensure seniors can age with dignity and maintain a high quality of life. The investment underscores a growing commitment to revolutionizing eldercare in India.Read more

Ek.indUS, a joint venture with IMMCO Investments, has launched in India, providing Indian-investors access to U.S. residency through the EB-5 program. This initiative offers a secure-pathway for investors to obtain U.S. permanent-residency by investing at least USD 800,000 into a U.S. commercial enterprise, which must create over 10 American jobs. Investors benefit from a U.S. green card for themselves, their spouse, and dependent-children under 21, with a potential path to citizenship. Ek.indUS provides comprehensive support, ensuring a smooth process for Indian investors, and boasts a 100% acceptance rate over 13 years with over 500 successful applicants.Read more

Ghaziabad Municipal Corporation (GMC) faces financial strain due to unpaid municipal service charges from government properties. Currently, 69 state government properties owe INR 162.55 crore, while 41 central government buildings have outstanding dues of INR 280.7 crore. Despite efforts to collect, significant payments remain overdue. These service charges, vital for maintaining local infrastructure, are based on the buildings' rental values, yet exemptions granted to agencies like DMRC and NCRTC complicate collections. GMC's struggles highlight the need for clear, enforceable policies to ensure government properties contribute to local services, safeguarding the financial stability of municipal bodies.Read more

The Madurai Corporation plans to implement a 6% increase in property tax starting from 1st October for the second half of the financial year. Opposition councillors criticise the decision for lacking adequate notice and burdening taxpayers again. Corporation officials anticipate collecting INR 230 crore in property taxes for 2023-24, with a target of over INR 260 crore for 2024-25, in line with the Tamil Nadu Urban Local Bodies Rules, 2023. Commissioner Dinesh Kumar defends the hike, citing the need for proportional tax collection to secure government funds. To encourage timely payments, the corporation offers incentives, including a 5% discount for early payers.Read more