WeWork India raises Rs 200 crore – ET RealEstate

NEW DELHI: WeWork India has raised Rs 200 crore from investors, through a mix of debt and equity, the company said in a media release. Karan Virwani, CEO, WeWork India, said, “The new capital we have raised will help us in continuing our upwards momentum and truly explore the potential of flexible workspaces in the […]

Net absorption in office market dips 33% at 5.53 million sq ft in Q1 2021: JLL – ET RealEstate

NEW DELHI: The overall office market in India witnessed a net absorption decrease of 33% in Q1 2021 quarter-on-quarter (Q-o-Q), with 5.53 million sq ft leased during Jan to March 2021, according to a recent report by JLL India. Bengaluru, Hyderabad and Delhi NCR accounted for nearly 80% of the net absorption during the quarter. […]

Mumbai region, Pune lead housing activity, accounts for 53% sales in top eight cities in Q1 – ET RealEstate

Property markets of Mumbai Metropolitan Region (MMR) and Pune are driving the most housing sales among the country’s top seven cities as indicated by the rising contribution of these markets in total sales led by reduction in stamp duty, discounts and appropriate product strategies of developers. MMR and Pune accounted for 53% of total sales […]

Residential sales recover over 90% to pre-covid levels in Q1 2021: Report – ET RealEstate

NEW DELHI: Residential sales in Jan-March 2021 recovered to more than 90% of the volumes witnessed in Q1 2020 across the top seven cities, according to a recent report by JLL. The cities including Chennai, Hyderabad, Kolkata, and Pune surpassed the sales volumes of Q1 2020. Mumbai has consistently been the largest contributor to sales […]

Ascendas India Trust to buy 1.65 million sq ft at IT Park in Bengaluru for Rs 1,441 crore – ET RealEstate

NEW DELHI: Ascendas India Trust (a-iTrust) will acquire 1.65 million sq ft area at an IT park in Bengaluru for an estimated deal value of Rs 1,441 crore, according to a statement. Ascendas Property Fund Trustee Pte Ltd, the Trustee-Manager of a-iTrust, has entered into a forward purchase agreement with Gardencity Realty Pvt Ltd to […]

Bhive enters into fractional office space – ET RealEstate

Co-working operator BHIVE has ventured into fractional ownership of commercial offices under the BHIVE Investech platform. The new venture, registered in the US, will not only invest in acquiring commercial real estate in the IT capital of India but also explore new geographies. “In the first phase, the plan is to buy out commercial properties […]

Office markets in seven cities have potential space of 284 million sq ft: JLL – ET RealEstate

NEW DELHI: JLL believes that India’s current office markets across seven major cities have potential space of 284 million sq ft that could be securitised with an estimated value of Rs 2,62,800 crore. “This estimate was based on buildings that meet two important criteria – single ownership and large floor space with high occupancy rate. […]

Shapoorji Pallonji Real Estate to invest Rs 300 crore to build 440 flats in Bengaluru – ET RealEstate

NEW DELHI: Shapoorji Pallonji Real Estate will invest Rs 300 crore to construct around 440 luxury apartments in Bengaluru. The company has launched a new phase of its 46-acre luxury residential project Parkwest in Binnypet, Central Bengaluru. The new phase will have around 440 luxury apartments, ranging from 462.10 sq ft to 1,185.07 sq ft. […]

Office space leasing across India’s six major cities likely to grow 22% in 2021: Report – ET RealEstate

Office space absorption across India’s six major cities is expected to touch 41.3 million sq ft in 2021 marking a growth of 22% from last year despite the disruption caused by the pandemic in the last few quarters, said international property consultant Savills India. Of the major cities, the country’s financial capital Mumbai is likely […]

Simpliwork lease out 3.5 lakh sq ft in Hyderabad and Bengaluru to MNCs – ET RealEstate

Representative Image Managed space operator Simpliwork has leased 350,000 sq ft office space across Bengaluru and Hyderabad to large enterprises as corporates look at flexibility at the workspace. In Hyderabad, it has rented space to semiconductor company MosChip for setting up its headquarters, and another 150,000-200,000 sq ft to one of the largest financial firms. […]