Savills India reports a 42% year-on-year increase in PE investments, reaching USD 1.7 billion (INR 142 billion) in H1 2024. Commercial office assets dominated with 51% (USD 867 million) of the total, while residential investments surged to 47% (USD 803 million), reflecting growing investor confidence. Asian investors contributed 78% (USD 1.33 billion) of the Q2 2024 volume, mainly targeting office and residential properties in Bengaluru and Hyderabad. Arvind Nandan of Savills India attributes this growth to India's strong macroeconomic scenario, highlighting the positive impact on private equity investment activity across both sectors.Read more

The Motilal Oswal Nifty India Defence Index Fund, launched as the first passively managed fund focusing on Indian defence, had a successful start. During the New Fund Offer (NFO) period from June 13th to 27th, 2024, it raised a record-breaking INR 1,676 crore (about USD 20.6 million). Over 248,000 unique investors from various locations across India participated in the NFO. The fund tracks the Nifty India Defence Index, comprising 15 defence companies, reflecting strong growth rates. This initiative aligns with India's push for defence self-reliance and decreasing reliance on foreign imports. The fund's success signifies growing investor confidence in sector-specific funds within India's mutual fund industry.Read more

According to Knight Frank India's latest report, flexible office space leasing in Bengaluru dropped by over 40% in the first half of 2024, falling from 2.9 million square feet in H1 2023 to 1.7 million square feet. However, flexible workspaces remain valuable for startups and companies needing adaptable office solutions. Nationally, co-working spaces accounted for 72% of flex space transactions. Despite the drop in flex leasing, Bengaluru's overall office space market grew by 21%, reaching 8.4 million square feet. This growth is driven by the establishment of Global Capability Centers (GCCs) and increased leasing by IT service companies.Read more

India's office space market is rebounding in 2024, with gross leasing activity reaching 32.8 million sq. ft. in the first half across nine major cities, a 14% year-on-year increase. Technology companies, accounting for 28% of leased space, and Global Capability Centers (GCCs) driving 37% of the demand, are key contributors. The popularity of flexible workspaces is also rising, comprising 16% of leasing activity. With high-quality, sustainable office developments and expansions into Tier-II cities, the outlook remains positive for the rest of 2024, underscoring India's growing appeal as a global office hub.Read more

Neo Asset Management Pvt. Ltd. has appointed Neeraj Sanghi as Managing Director and Operating Partner. Neeraj, with over four decades of experience, will lead the company's Infrastructure Operations. He previously served as CEO of Highway Concessions One, significantly growing the platform. Neeraj's expertise spans business strategy, asset acquisition, and project management. India's infrastructure sector is booming with the Government's USD 1.4 trillion National Infrastructure Pipeline. CEO Hemant Daga highlighted Neeraj's role in enhancing the company's infrastructure management capabilities and meeting growing client demands.Read more

Maharashtra's cooperative banks can now provide loans to housing societies for self-redevelopment, a move announced by Deepak Tawre, State Commissioner of Cooperation. This decision benefits nearly 1,000 proposals in Mumbai, Thane, and Pune. Previously stalled by lack of funding and clear RBI guidelines, the new directive requires banks to perform due diligence, ensuring secure and transparent processes. This initiative is particularly significant for older societies, allowing them greater control over redevelopment and supporting urban renewal efforts. By facilitating these loans, Maharashtra addresses the urban housing crisis while promoting efficient land use and independence for housing societies.Read more

According to RBI data, housing loan outstanding rose by 16.9% year-on-year in May 2024, reaching INR 23.49 lakh crore, up from 13.8% growth in May 2023. This surge suggests increased confidence in the real estate market, driven by lower interest rates and a stable job market. Experts predict a potential drop in home loan interest rates by 50 basis points in 2024, making homeownership more accessible. Additionally, credit to large industries grew by 7.1%, while MSME loans rose by 15.5%, indicating robust economic activity. However, personal loan segments like credit card debt grew at a slower pace, reflecting cautious consumer borrowing.Read more

Grihum Housing Finance, in collaboration with the Central Bank of India, now offers competitive Loans Against Property (LAP) under the RBI's co-lending framework. This partnership aims to support MSMEs by bridging funding gaps crucial for their growth and economic contribution. Grihum's extensive network and understanding of semi-urban and rural markets complement Central Bank of India's affordable funding sources, enabling competitive interest rates for MSME borrowers. Simplified processes and dedicated support further enhance accessibility to capital, empowering businesses to invest, create jobs, and drive local economies. Grihum's financial performance highlights its commitment to fostering financial inclusion and supporting India's economic progress.Read more

Savills India's latest report highlights robust demand for premium residential properties in key cities like Gurugram, Noida, Mumbai, Bengaluru, and Goa. Gurugram leads with a 53% price increase, followed by Noida at 30%. Under-construction projects command higher premiums, indicating a preference for new amenities. The Reserve Bank of India's maintained interest rates have made home financing more affordable, further stimulating the luxury housing market. Mumbai sees significant growth, especially in central and western suburbs, driven by larger living space trends for hybrid work models. Bengaluru shows moderate gains, with under-construction projects outperforming completed ones. Goa emerges as a hotspot for second homes, driven by lifestyle preferences and remote work trends.Read more

In a record-breaking second quarter of 2024, India's seven key office markets - Mumbai, Delhi NCR, Bengaluru, Chennai, Kolkata, Pune, and Hyderabad - surpassed 1 million sq. ft. in gross leasing each for the first time. The total leasing volume reached 18.38 million sq. ft., a 21.3% increase from the previous quarter, continuing a year-long trend of strong activity. Bengaluru led with 33% of the total, followed by Delhi NCR at 20.7%. The tech sector dominated with 31.5% of the leasing, while BFSI, manufacturing, and flex space operators also contributed significantly. Net absorption grew by 27.5%, indicating robust business expansion and reinforcing India's status as a global office hub.Read more