Construction

Office sector likely to witness net absorption of 37-39 mn sq ft in 2023

Office sector likely to witness net absorption of 37-39 mn sq ft in 2023

The office sector has witnessed sustained growth in demand in 2023 despite the global sluggishness and the net absorption in office market is expected to be at par with 2022 to close at 37-39 mn sq ft, according to JLL recent report titled ‘2023: A Year in Review’. The office space in India's top seven markets is expected to increase to over 800 mn sq ft by the fourth quarter of 2023, up...

Why rich Indians are buying marquee properties in London

Why rich Indians are buying marquee properties in London

A few days ago, Adar Poonawalla, CEO of Serum Institute of India that manufactures the Covishield vaccine, reportedly closed a deal to buy London’s most expensive house of the year worth approximately ₹1446 crore. He agreed to pay the amount for a 25,000 square foot Mayfair mansion, Aberconway House which is a 1920s home near Hyde Park. Besides Poonawalla, there are several UHNIs who have made the...

NAREDCO seeks ₹50,000 crore more under SWAMIH Fund in Budget 2024

NAREDCO seeks ₹50,000 crore more under SWAMIH Fund in Budget 2024

Real estate developers' body National Real Estate Development Council (NAREDCO) has recommended to the finance ministry to come up with the second tranche of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund with a corpus value of ₹50,000 crore in the upcoming budget for the financial year 2024-2025, saying the move is expected to benefit both home buyers as well as the...

CIDCO’s housing scheme for VIPs elicits good response

CIDCO’s housing scheme for VIPs elicits good response

The City and Industrial Development Corporation of Maharashtra's (CIDCO) `Maha Nivas’ housing scheme for parliamentarians, legislatures, judges and bureaucrats has elicited a good response with 457 applications coming in for around 350 flats on offer along the much sought after Palm Beach road in Navi Mumbai. CIDCO's `Maha Nivas’ housing scheme for parliamentarians, legislatures, judges and...

India is now the world’s 14th priciest housing market

India is now the world’s 14th priciest housing market

India climbed 18 spots up to 14th rank in the global house price index in Q3 2023. Home prices in the country increased 5.9% year-on-year in the third quarter of 2023, according to the Knight Frank’s Global House Price Index. Home prices in India increased 5.9% year-on-year in the third quarter of 2023, according to the Knight Frank’s Global House Price Index.(Photo by Sunil Ghosh /...

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