In one of the rare sale and leaseback transactions involving an office property in India, global business process management company WNS Global Services has sold its office spread over 170,000 sq ft in Pune and leased it back for five years.The company has sold the office spanning across five floors in Magarpatta Cybercity in Hadapsar…
READ MOREThe Reserve Bank of India’s decision to reduce the repo rate by 25 basis points to 6.25% on Friday after maintaining it for 11 successive meetings since February 2023 is expected to help push demand for residential properties across the country.The reduction in the repo rate is expected to make housing loans more affordable for…
READ MOREEquinox India Developments Limited has appointed Jitendra Mohandas Virwani, chairperson of Embassy Group & promoter of the company, as non-executive non-independent director on the Board with effect from January 25, 2025.Further, the company has also completed allotment of 60,91,05,999 fully paid equity shares, to the shareholders of NAM Estates, in accordance with the merger scheme.“He…
READ MOREThe supply of homes in the affordable and mid-income category (priced Rs 1 crore and below) has dipped by 36% in the last two years, from 3,10,216 units in 2022 to 1,98,926 units in 2024 with NCR, Mumbai and Hyderabad as worst performers, according to real estate data analytics firm PropEquity.The housing supply in the…
READ MORERealty firm Mindspace Business Parks REIT has acquired 18.2 lakh commercial area in Hyderabad for Rs 613 crore to expand its rent-yielding portfolio.Mindspace REIT, which is listed on stock exchanges, will acquire 100 per cent equity of Sustain Properties Pvt Ltd, which owns this 18 lakh square feet area. The shareholders of Sustain Properties will…
READ MOREAverage property values in India’s national capital region has witnessed 49% appreciation in the past one year as demand for luxury homes continued to sustain.This comes amid an escalation in the cost of building materials and labour, according to real estate transaction and advisory platform PropTiger.com.According to the report, property prices increased across cities during…
READ MOREK Raheja Corp-backed Mindspace Business Parks REIT is set to acquire an information technology (IT) park Commerzone Raidurg with 1.82 million sq ft office space in Hyderabad’s Madhapur micro market for an enterprise value of Rs 2,038 crore.The entire IT park is already leased to US-based semiconductor and telecommunications company Qualcomm. The REIT held a…
READ MOREIndian government’s announcement to formulate a national framework as guidance to states for promoting Global Capability Centres will help in demand for grade A office space and also for housing with talent pool moving near to GCC. GCC) has leased 24.9 million sq ft in 2024, almost triple from 9.1 million sq ft in 2022,…
READ MOREBlackstone Group, the world’s largest alternative asset manager, is planning to invest up to $11 billion to develop real estate and infrastructure assets, including data centres, in Maharashtra’s key cities over the next three-five years.The US-based institutional investor has signed three separate agreements in Davos with the state government as part of a broader strategy…
READ MORERatings agency ICRA expects the rental income for retail mall operators to increase by 7-8% on-year growth in the current financial year 2024-25 and 8-9% in 2025-26, driven by healthy occupancy levels, growth in trading values and rental escalations.Across India’s top six cities, new supply of 9-9.5 million sq ft is expected in the current…
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