The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
Bombay HC stays proposed Metro fare hike till Jan 29.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
Home prices across the top six cities are set to jump 6-10 per cent this fiscal and 3-5 per cent in the next financial year because of a steep rise in raw material, labour and land costs, and relatively favourable demand-supply dynamics, a report said on Thursday. The report by Crisil also said large residential realtors are on course to log a robust 25 per cent sales growth in 2022-23 and 10-15 per cent in the next fiscal. The unsold inventory level is down to 2.5 years from four years pre-pandemic, and this has credit profile of the large realtors strengthening, the report said.
In a first, a public transport facility is beating its own drum.
The major milk-producing districts of Kolhapur, Sangli, Satara, Ahmednagar and Nashik supply bulk of the stock to Mumbai and Pune.
This shift is driven by a pursuit of a superior lifestyle and an innate desire to be grounded in an owned plot of land. Villas, situated within gated housing societies, have gained popularity as a property type, witnessing strong traction due to elevated aspirations and the need for more living space.
La Nina, construction worsen air quality; spike in respiratory ailments.
Housing sales are likely to rise by 30 per cent across seven major cities to nearly 1.8 lakh units in 2021, but demand will still be lower than the pre-COVID levels, according to property consultant Anarock. According to Anarock research, housing sales are expected to increase 30 per cent year-on-year (y-o-y) to 1,79,527 units across seven cities in 2021 from 1,38,344 units last year. In 2019, housing sales stood at 2,61,358 units across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
During a hearing on Friday, the bench noted that Mumbai was witnessing a decline in the bursting of firecrackers.
Several on-site labourers in the city want to take special trains being run to transport workers back home. The rising number of COVID-19 cases in the city has caused anxiety among them.
R-Infra in its argument had told the high court that it was losing upto Rs 85 lakh a day despite being used by nearly 250,000 commuters
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
Mumbai has reported total of 83,237 cases and 4,830 deaths to date.
He also said that it had been decided to give the houses to the MLAs at a certain price and not free of cost.
The United States has approved the extradition of Tahawwur Rana, accused of involvement in the 2008 Mumbai terror attacks, to India. The decision was announced by President Donald Trump during a joint press conference with Prime Minister Narendra Modi in the White House. India is currently working on the logistics of Rana's surrender and extradition, with several final steps to be completed before he is sent back to India. The joint statement issued by India and the US during Prime Minister Modi's visit reaffirmed their commitment to fighting terrorism and eliminating terrorist safe havens. The leaders also called on Pakistan to bring to justice the perpetrators of the 26/11 Mumbai and Pathankot attacks. Rana, a Canadian national of Pakistani origin, is currently lodged at a metropolitan detention center in Los Angeles. He is associated with Pakistani-American terrorist David Coleman Headley, one of the main conspirators of the 26/11 attacks.
During this summer, Indian travel buffs are opting for destinations that provide an escape from the ominous heat, along with coastal regions within the country and countries offering visa-free travel.
A total of over Rs 1,641 crore of premium is pending against five lease holders of MMRDA
Thackeray was speaking virtually after the inauguration of a water taxi service, linking Navi Mumbai to south Mumbai, and the Belapur jetty in the neighbouring township.
'We immerse our Ganpati in a bucket at home and use that water for our plants.' 'That way, our Ganpati always remains with us.'
MMOPL has already taken a decision to extend the fare slab of Rs 10 to Rs 40.
'Netflix, Amazon Prime Video, Crunchyroll, and Disney+ Hotstar are continuously expanding their Anime libraries.'
The state reported 346 deaths, taking the fatality tally to 21,033, said the health official.
Bengaluru saw a 23% decline in home sales and a 3% fall in prices.
Experts tracking the sector say the scheme is aimed at clearing inventory and boosting sales
The Central anti-drug agency had filed the draft charges last month in the Special Narcotic Drugs and Psychotropic Substances Act Court against 35 accused, the details of which were made available on Tuesday.
This proposal is a part of the comprehensive aviation policy that the ministry has submitted to the Cabinet and which has now been referred to a Group of Ministers.
Housing sales hit an all-time high this year to nearly 3.65 lakh units across seven major cities, beating the previous high of 2014, on strong demand for residential properties despite a hike in mortgage rates, according to Anarock. The prices of residential properties have risen in the range of 4-7 per cent primarily due to an increase in the input costs and demand comeback post-COVID, it said. Releasing the demand-supply data of India's top residential primary (fresh sale) markets, property consultant Anarock said that the housing sales rose 54 per cent this year to 364,900 units as against 236,500 units in 2021 across the seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Local trains have been off bounds for the general public since March last year due to the coronavirus pandemic.
About 7 per cent was priced between Rs 3 crore and Rs 5 crore, 22 per cent priced between Rs 5 crore and Rs 8 crore, and 15 per cent above Rs 8 crore.
Average apartment size in residential projects launched in 2020 increased by 10 per cent to 1,150 sq ft, as builders expected demand for bigger flats to rise after the COVID-19 pandemic, according to property consultant Anarock. Average apartment sizes in seven major cities have risen by 10 per cent on a yearly basis to 1,150 sq ft in 2020 from 1,050 sq ft in 2019, it said in a report. The consultant said the average apartment sizes were reducing year-on-year since 2016 but the trend has reversed last year.
'If you look at the average age of all our candidates, you will notice that their average age is between 35 and 40. It is a kind of revolution that the MNS is bringing in Maharashtra.'
'In Mumbai the mortality rate was reaching a percentage of almost 8 plus in about April.' 'But now over last one month, we have come down.' 'We have drastically controlled mortality.' 'We are now about 3.9.'
Already hit hard by the poor and inefficient services, the woes of the suburban rail commuters in the metropolis are going to be compounded further with the season ticket rates going up by more than double across classes.
Home seekers demand has exceeded supply and hence there is a possibility of rentals going up by atleast 10 percent.
Experts attribute this to economy slowdown and political uncertainty with the general elections round the corner.
The Mumbai civic body asked all schools to remain shut and to ensure that the students were sent back home safely.
A 5% increase is expected due to additional interest on approval costs.
Housing sales across seven major cities in the country fell 35 per cent year-on-year to 50,983 units during the July-September period even as the demand recovered post lockdown, according to data analytics firm PropEquity. Sales stood at 78,472 units in the year-ago period in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
