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January 17, 2025
India's luxury real estate market witnessed a 17% growth in sales value in 2024, with 59 high-end homes sold for INR 4,754 crore, up from INR 4,063 crore in 2023, according to Anarock. Mumbai dominated with 88% of sales, while Delhi-NCR, Hyderabad, and Bengaluru contributed modestly. Notably, 17 transactions surpassed INR 100 crore each, highlighting robust demand for ultra-premium properties despite rising construction costs. Driven by a growing affluent class and evolving post-pandemic lifestyle preferences, the trend underscores a shift towards spacious, modern homes. As urbanization accelerates, the luxury market is poised for sustained growth in the coming years.
Source: https://www.propnewstime.com/getdetailsStories/MTQxMTU=/india-s-luxury-real-estate-market-grows-17-in-2024-with-inr-4-754-crore-in-sales
January 17, 2025
In a statement on Thursday, MicroMitti said the company raised Rs 17.06 crore through a seed funding round for MicroMitti holding firm promoting real estate investment vehicles like SM-REIT (small and medium real estate investment trust), AIF (alternate investment fund) and private equity.
Source: https://www.business-standard.com/companies/news/micromitti-raises-rs-90-cr-for-proptech-growth-real-estate-investments-125011600818_1.html
January 17, 2025
Sidhant Real Estate, led by DLF chairman Rajiv Singh and his family, has acquired a bungalow in Lutyens' Delhi for ₹150 crore, from Rangoli Resorts, owned by Sheela Foam's executive chairman Rahul Gautam and family. Rangoli Resorts also bought another property on Hailey Road for ₹165 crore. Both transactions occurred last October.
Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/dlf-co-sidhant-real-estate-buys-delhi-bungalow-for-150-crore/articleshow/117310551.cms?from=mdr
January 17, 2025
To streamline the property registration process for almost five lakh units, the Bruhat Bengaluru Mahanagara Palike (BBMP) has introduced an online e-khata system. This means that property owners without a ‘khata’ can now generate one online by accessing the official portal and without visiting the municipal corporation office premises.
Source: https://www.hindustantimes.com/real-estate/bengaluru-real-estate-this-is-what-homeowners-who-do-not-have-a-manual-khata-should-do-to-generate-one-online-101737030515176.html
January 15, 2025
Modern retail spaces are designed to offer value beyond transactions, integrating sustainable practices, immersive technologies, and personalised customer experiences to foster a sense of community, says Omaxe Ltd's Mohit Goel, discussing the evolving concepts of retail space in cities.
Source: https://www.cnbctv18.com/real-estate/retail-spaces-community-anchors-real-estate-smart-cities-mohit-goel-19538809.htm
January 15, 2025
The National Association of Real Estate Developers Organisation (NAREDCO), representing real estate developers, has urged the Maharashtra government to reduce stamp duty to 3% for a year to boost property transactions.
Source: https://www.hindustantimes.com/real-estate/real-estate-developers-urge-maharashtra-govt-to-reduce-stamp-duty-incentivise-homebuyers-who-opt-for-green-buildings-101736837343105.html
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