Coworking space provider 315Work Avenue has leased an additional 56,000 square feet of office space in International Tech Park Pune (ITPP) to take its overall space take-up in the facility to 1 lakh square feet, the company said in a statement. The flexible office space provider had earlier leased 44,000 square feet in ITPP.

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Source:Hindustan Times

Real estate major BCD Group is preparing to lease out 900 apartments to global tech giant Apple’s manufacturing partner Foxconn for a three-year period in a township project located in Bengaluru’s Hoskote town, sources in knowledge of the matter told HT.com.

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Source:Hindustan Times

The FIRE (Financial Independence Retire Early) movement, the origins of which date back to the early 2000s, initially emphasised on extreme saving to reach financial freedom and embrace early retirement. However, it has since evolved to also include people who wish to exit the work force on their own terms and at an age of their choosing as opposed to hustling for a paycheck all the way into their 60s.

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Source:Hindustan Times

Bengaluru-headquartered managed office space provider BHIVE Workspace has leased 77,000 square feet from Address Maker on CMH Road in Indiranagar, the company said in a statement on September 9. This space take up comes at a rental fee of ₹8.5 crore per annum.

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Source:Hindustan Times

The move comes after the realtor failed to pay at least 25% ( ₹114.45 cr) of the total land cost dues and obtain permission for registry of apartments in the name of the homebuyers.

Under the state government policy launched on December 21, 2023, the authority is offering waivers on interest to stuck housing projects for the period of the Covid pandemic.

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Source:Hindustan Times

“These offers by the government and real estate developers helped the real estate projects pick up steam in 2022 and 2023. It’s now been a year since developers have reintroduced subvention schemes, also known as flexible payment options. This may be because they want to keep up the sales momentum,” said a real estate broker, not wishing to be named.

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Source:Hindustan Times

A total of 25 ultra-luxury homes priced more than ₹40 crore were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first eight months of 2024 for a collective sales value of approximately ₹2,443 core, Anarock data showed.

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https://www.hindustantimes.com/real-estate/ultra-luxury-housing-deals-worth-rs-2443-crore-transacted-across-top-cities-in-2024-till-date-mumbai-dominates-report-101725520459111.html

Source:Hindustan Times

A total of 25 ultra-luxury homes priced more than ₹40 crore were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first eight months of 2024 for a collective sales value of approximately ₹2,443 core, Anarock data showed.

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Source:Hindustan Times

The country’s hospitality sector recorded an investment activity of around $93 million in the first half of the year (January to June 2024). Listed hotel companies accounted for 44% of the total transactions volume, followed by owner-operators (30%), and HNIs, family offices and private hotel owners (26%), a report by JLL has shown.

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Source:Hindustan Times

 

Punjab passes Bill to regularise illegal colonies

There are 14,000 illegal colonies in Punjab and thousands of plot holders in such colonies stand to benefit.

Ruchika Khanna

Tribune News Service

Chandigarh, Updated At : 07:21 PM Sep 03, 2024 IST

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The department had issued instructions to check mushrooming of illegal colonies in Punjab. File photo

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Punjab Chief Minister Bhagwant Mann on Tuesday presented the Punjab Apartment and Property Regulation (Amendment) Bill, which seeks to do away with NOC for getting properties registered in illegal colonies.

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Source:The Tribune India

The issue of tax implications of transferring leasehold land has come to the fore once again as the authorities have started to issue notices to recover dues for such a transfer. This has sparked a significant debate among industry stakeholders as it is expected to have a major impact on future transactions and the broader real estate market.

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Source:Hindustan Times

The flexible workspace footprint across the top eight cities in India has touched 58 million square feet as of H1 2024, a joint report by Cushman & Wakefield and Table Space has said. Bengaluru led the way with a 31% share of the total flex space stock, followed by Delhi-NCR (16%), Pune (14%), Hyderabad (14%) and Mumbai (11%).

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Source:Hindustan Times

The share of property registrations by homebuyers aged more than 61 years has increased by 204%, from 7,554 in 2020 to 15,276 in 2024, with senior citizens being more inclined to upgrade to bigger homes after the pandemic, a recent study on property registration trends in Mumbai (MMR) by Knight Frank India has shown.

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https://www.hindustantimes.com/real-estate/share-of-property-registrations-by-mumbais-senior-citizens-up-by-200-after-covid-19-report-101724998625149.html

Source:Hindustan Times