ASK Property Fund, the real estate private equity arm of Blackstone backed ASK Asset & Wealth Management Group, has announced the successful investment of INR 190 crore in a project being developed by Kalpataru. The project is an upper mid-segment project, located in Borivali West, comprising 310 units and is spread across 6 acres with a total saleable area of about 6.5 lakh square feet.
South India’s data centre market is on an impressive growth trajectory, with major cities like Chennai, Bangalore, and Hyderabad at the forefront. This surge is supported by substantial government incentives, strategic infrastructure investments, and a rising demand for digital services. The region is poised to play a crucial role in the global data centre landscape, with capacity projected to grow 65% by 2030.
INR 3,500+ crore highest-ever recorded sales value in secondary/resale market in Mumbai with growth rate of 37% in H1 CY’24 compared to H1 CY’23. The top luxury micro-markets in Mumbai—Goregaon East, Worli, Mahalakshmi, Prabhadevi, Mumbai Central, Malabar Hill, Bandra West, Lower Parel, Tardeo, Byculla—have contributed to 80% of primary luxury sales by value in H1 CY’24. More than half of homebuyers in the more than INR 10 Crore luxury market belong to the 35-55 age category.
The second quarter of 2024 witnessed institutional investments of USD 3.1 Bn, registering a sharp increase of 96% over the same quarter a year ago and 464% over the previous quarter. As the world economy is stabilizing amid geopolitical challenges, investors actively participated, resulting in the highest institutional investments in a quarter post the pandemic.
Puravankara acquires a 12.77-acre land parcel at Ghodbunder Road in Thane, MMR, with a total potential carpet area of 1.82 msft, a 7.26-acre land parcel at Electronics City (Hebbagodi) in Bengaluru with a potential carpet area of 0.60 msft along with the landowner share of 0.83 msft saleable area in three projects by Provident in Goa and Bengaluru.
DLF has emerged as the top real estate company in the 2024 GROHE-Hurun India Real Estate 100, with a valuation of INR 2,02,140 crore. Following DLF, Macrotech Developers holds the second position with a valuation of INR 1,36,730 crore, and Indian Hotels Company ranks third with INR 79,150 crore. Among the top 10 companies, 60% are headquartered in Mumbai, while two are based in Bengaluru and one each in Gurugram and Ahmedabad.
With a wealth of INR 1,24,420 crore, Rajiv Singh from DLF leads the 2024 GROHE-Hurun India Real Estate Rich, followed by Mangal Prabhat Lodha from Macrotech Developers with INR 91,700 crore at the second spot, and Gautam Adani & family from the Adani Realty with INR 56,500 crore at third. Of the top 10 on the real estate rich list, five are from Bengaluru and four from Mumbai.
The report also highlights that Bengaluru has cemented its status as the leader for global capability centres (GCCs), commanding a 41% share in India’s GCC leasing market (from 2022 to Jun’24). Bengaluru’s GCC growth is driven by a combination of factors, including a skilled talent pool, premium Grade-A assets, and a well-developed IT ecosystem. The city’s ease of doing business also contributes significantly, making it an attractive destination for GCCs. Additionally, the scope of scalability in both assets and talent resources further reinforces Bengaluru’s position as a leading commercial hub.
Magicbrickshas unveiled its instant property valuation tool, PropWorth. It is powered by an advanced machine learning algorithm to assist buyers and sellers evaluate the estimated price for any property. Trained on 15 years of data and over 30 million listings, PropWorth covers 50,000 projects in 5,500 localities across 30 cities, offering comprehensive valuations for various property types, including apartments, independent houses, and villas. Track2Realty reports.
ICRA estimates the industrial and warehouse logistics park (IWLP) supply to grow by 13-14% YoY in FY2025 in the eight primary markets to around 424 million sq. ft. Moreover, the absorption is estimated to increase to 47 million sq. ft. in FY2025 (90% of incremental supply addition) from 37 million sq. ft. in FY2024, supported by strong consumption-led demand. The vacancy in the eight primary markets stood at 10% in FY2024 and is likely to remain at a similar level in FY2025.