Mindspace Business Parks REIT raises INR 650 Crore (6.5Bn) Sustainability Linked Bond Issuance that has been placed with International Finance Corporation (IFC), the private sector arm of the World Bank Group. The coupon of the bond is linked to Mindspace’s commitment to achieve certain ESG targets towards building a greener eco-system.
Between April and June 2024, residential supply witnessed the highest growth rate in the last 24 months, driven by the increasing availability of under-construction properties, shared the recently published PropIndex Report (April-June 2024) by Magicbricks, India’s leading real estate platform. According to the report, the supply of under-construction properties has increased by 11.7% QoQ, while prices have risen by 15.2% QoQ between April-June 2024. This surge has resulted in prices of under-construction properties surpassing those of ready-to-move properties in several cities such as Gurugram, Mumbai, Noida and Thane.
Bengaluru-based Assetz Property Group has launched its luxury residential plotted development “Promise of Spring”, on the Bengaluru-Hyderabad highway, in Devanahalli. This 23-acre project in North Bengaluru promises to offer 320 plots ranging from 1500 sqft to 3000 sqft. Situated close to the serene landscape of Nandi Hills, residents can enjoy the tranquil beauty of lush natural surroundings. The project is developed in collaboration with Sambhav Ventures Realty LLP.
A comprehensive analysis of these cities was done involving assessment of various social, economic, financial, and real estate specific demand & supply side parameters. Colliers conducted a broad-based assessment and developed an objective framework incorporating the above-mentioned parameters to assess their relative degrees of importance and impact on various real estate segments such as office, residential, warehousing, retail, hospitality, and alternatives (data centers, senior living, second homes etc.) in the respective cities.
According to the report’s findings, Q1 2024 marked a discernible shift towards high-end properties among homebuyers. Notably, the share of properties priced at INR 1 crore and above in sales surged to 37%, a significant increase from the pre-pandemic levels of 2019, more than doubling in magnitude. During this period, there was substantial growth (50-55%) in demand observed within the INR 1-5 crore price bracket, closely followed by the INR 5-10 crore range, particularly evident in cities like Mumbai, Gurugram, and Bengaluru. This transition signifies a departure from purely budget-driven decisions towards properties that better resonate with buyers’ lifestyle preferences.
A recent report claims current sentiment index score of Indian real estate is 72. I wonder how! Who is going to believe this? Definitely not the home buyers at the receiving end of the builders with delay, default, unmet promises and what not. But this is not an isolated instance of one-odd such report. As a matter of fact, most of the reports by the brokerage firms (in the guise of consulting firms) and other industry stakeholders would like the home buyers to believe that if you don’t buy property now, you would be left behind. This unnecessarily creates a FOMO (Fear of Missing Out) in the minds of the gullible buyers.
Central Park launches Bignonia Towers, a high-rise project in Sohna, Gurugram. Located in Central Park Flower Valley, the project features 3 and 4 bedroom apartments that include 193 units with a minimum area of 3805 sq. ft. and maximum area of 5581 sq. ft. The project is located along Delhi-Mumbai Expressway and Gurugram-Sohna Elevated Corridor with connectivity to NH-48, SPR, Golf Course Extension Road.
Soaring economic activity, infrastructure development, and reverse migration are driving double-digit property price appreciation in emerging urban centers of Tier-II cities, says “The Bharat India Report” by Housing.com. Housing.com, has released its inaugural “The Bharat in India” report that highlights remarkable growth trends in Tier-II city real estate markets across the country. It highlights how these once overlooked urban centers are rapidly closing the gap with their Tier-I counterparts. This growth is fuelled by economic diversification, rising consumer demand, and reverse migration patterns accelerated by the pandemic.
Owing to rapid industrial growth and the emergence of one of the fastest growing real estate segments in the country, India’s warehousing sector is set to cross the 300 million square feet (MSF) mark by 2025, according to a report jointly launched by CREDAI and CRE Matrix. Currently, the overall Grade A warehousing stock stands at 216.2 MSF. In Q1 CY ’24, India witnessed a 5% increase in rentals – reflecting how India’s warehousing demand continues to surpass supply – with the absorption to supply ratio standing at 1.4 in the quarter.
The market price of property in India is not always in sync with its intrinsic value. The home buying experience of Rajesh Kalra, a professional in Mohali, soured at the time of possession. He had negotiated with the builder and till that point of time believed that with his negotiation skills he made a good bargain for the same. But once in the house he got to know through the neighbour next door that the other person bought at around INR 4 lakh lesser price.