Airbnb's new "Icons" program grants guests access to the iconic Kapoor family home in Chennai, fulfilling the late actress Sridevi's dream of transforming it into a luxurious hotel. Applications open on May 9th, offering lucky winners a free stay for two, selected through a random process based on their connection to the Kapoor family. Janhvi Kapoor will personally host a tour, sharing family stories, and guests will enjoy South Indian cuisine, immersing in the Kapoor family's heritage. The program reflects Airbnb's confidence in the Indian market, catering to travelers seeking unique experiences beyond traditional accommodation. Other celebrity homes worldwide are also part of the program, offering extraordinary stays and memorable moments.Read more

Eldeco Infrastructure and Properties Ltd (EIPL), a prominent real estate developer in North India, has joined forces with HDFC Capital Advisors Ltd to strengthen their collaborative platform aimed at housing projects nationwide. With an investment of INR 350 crore, the platform's total size now stands at INR 850 crore. This investment will fuel the development of group housing and plotted development projects, focusing on Tier 1 cities like Delhi and Gurugram, alongside Tier 2 cities such as Ludhiana, Sonipat, and Goa. EIPL's successful utilization of previous funds in diverse locations emphasizes its execution capabilities. The joint platform anticipates a cumulative revenue potential of INR 8,000 crore across 17 projects, with early launches in Panipat, Sonipat, Rishikesh, and Kasauli demonstrating strong initial demand. The partnership between Eldeco and HDFC Capital represents a step forward in addressing housing needs across India, with a focus on Tier 2 cities and affordability.Read more

Hebbal, situated in Bengaluru's northern region, is a rapidly growing residential and commercial area known for its proximity to Kempegowda International Airport. In March, L&T Raintree Boulevard emerged as the top-selling building, with various options available for homebuyers. From luxurious apartments in Crown Aura to budget-friendly choices in Anand Nilaya, Hebbal caters to diverse budgets and preferences. The area offers a mix of housing options, including spacious homes and compact living spaces. With prices per square foot ranging from INR 930 to INR 46,932, Hebbal accommodates different budgets. Close to 52% of apartments sold fell within the INR 1 - 2 crore range, appealing to a large segment of buyers.Read more

Awfis Space Solutions Ltd. and TBO Tek Ltd. have received the green light from the Securities and Exchange Board of India (SEBI) to proceed with their Initial Public Offerings (IPOs). Awfis plans to raise INR 160 crore through a combination of fresh equity shares and existing shares, while TBO Tek aims for a substantial INR 400 crore IPO. This IPO wave extends beyond them, with NBCC Ltd.'s record-breaking INR 23,500 crore worth of new projects and WeWork India's potential IPO. This trend reflects optimism in real estate, driven by rising demand for flexible workspaces and affordable housing. Successful IPOs not only attract investments but also stimulate employment opportunities and promote homeownership, shaping India's real estate landscape positively.Read more

WeWork India, a prominent player in shared office space, is gearing up for an IPO within 18 months following Embassy Group's acquisition of the remaining 27% stake for INR 1,700 crore. This acquisition, combined with a planned divestment of 40% to investors for INR 1,200 crore, positions WeWork India strongly. Despite the complete ownership shift, Embassy Group aims to retain a 60% stake, ensuring control while accessing fresh capital. WeWork India's robust financial performance, with a 40% revenue increase and 90% EBITDA rise in FY24, highlights its appeal. Managing over 90,000 desks across 8 million square feet, their diverse clientele strategy sets them apart. Ambitious expansion plans targeting key cities align with the co-working market's projected INR 13,000 crore value by 2025. Transitioning to a franchise model further enhances operational independence and brand leverage, strengthening long-term growth prospects. WeWork India's IPO could reshape the workspace landscape, attracting broader market investment and disrupting traditional office lease models.Read more

Leading fractional real estate platforms like EFC, Strata and WiseX have begun taking steps to register under the new SEBI regulations for Small and Medium Real Estate Investment Trusts (SM-REITs). SEBI notified the regulations were notified last month to govern income-generating commercial, rental housing and warehousing assets valued between INR 50-500 crore. Platforms have a time frame of six months to comply with the guidelines which are aimed at enhancing transparency and investor protection in the fractional ownership sector. Fractional ownership platforms currently manage over INR 4,000 crore in assets. According to a recent report by JLL India and PropShare, India's USD 500 million fractional ownership market could grow to USD 5 billion by 2030.Read more

Priyanka Chopra's brother Siddharth Chopra and mother Madhu Chopra have leased one of their bungalows located in Koregaon Park, Pune to The Urban Nomads Community Private Limited, a co-living and co-working startup. As per the lease agreement signed on March 21st, the bungalow spanning a plot size of 3754 sqft will be rented for INR 2 lakh per month along with a security deposit of INR 6 lakh paid by the firm. Priyanka Chopra is known for her real estate investments and had recently sold two penthouses in Mumbai and commercial properties in Andheri.Read more

Bollywood icon Amitabh Bachchan has ventured into the luxury real estate market with a new project in Alibaug, near Mumbai. Acquiring a 10,000 sq. ft. plot from The House of Abhinandan Lodha (HoABL) for over INR 10 crore, Bachchan aims to build a lavish villa overlooking Alibaug's scenic beaches. This isn't his first real estate deal with HoABL; in January 2024, he acquired a plot in The Sarayu, a 7-star mixed-use development in Ayodhya, valued at INR 14.5 crore. Bachchan's interest in real estate extends to commercial properties as well; he leased four units in Mumbai's Oshiwara area to Warner Music India Limited, generating an annual rent of INR 2.07 crore. With Alibaug emerging as a hotspot for celebrity investments, Bachchan's move reflects a broader trend of high-profile individuals seeking lucrative opportunities in luxury real estate.Read more

IIFL Home Finance is poised to boost its green housing portfolio to 5,000 crore INR in the next three years, doubling its current value. A technical team has been established to educate developers on constructing green projects. Currently, green housing loans constitute less than 10% of IIFL's loan book, with 70% being individual loans for buyers in green-certified projects. In August 2023, the International Finance Corporation (IFC) invested up to USD 100 million in IIFL, part of which is earmarked for financing green housing. This expansion aligns with India's push for sustainable development and housing accessibility, positioning IIFL as a leader in eco-friendly, affordable housing solutions.Read more

Altum Credo, a company dedicated to facilitating homeownership for low-income families in India, has secured USD 40 million in its Series C funding round. Founded in 2017, Altum Credo distinguishes itself with its technology-centric approach, leveraging digital tools across the loan process for efficiency and accessibility. Focusing on first-time homebuyers in the economically weaker and low-income groups, Altum Credo offers long-term financing with affordable monthly payments, addressing the gap left by traditional banks. With a loan portfolio exceeding USD 100 million and serving over 11,000 customers across six states, Altum Credo plans to expand its operations in central and northern India with this new capital infusion.Read more