India's IT boom fuels high demand for office space, but slowdown concerns rise, impacting commercial property market, particularly in Bangalore and Hyderabad.
A slowdown in real estate is observed, with residential transactions down 20-25%, while Mumbai experiences high demand despite challenges from rising interest rates and inflation.
Private Equity deals in Indian real estate and infrastructure reached $2.32 billion in H1 2008, a slight increase but with smaller deal sizes. Sluggish market conditions and funding challenges led developers to seek PE funding, with Red Fort Capital and others closing deals.
India's retail scene is thriving, with a rise in organized retailing and malls, while high street shops also maintain their appeal, showcasing a complementary growth strategy.
Narang Developers and Bombay Taximen Colony are in talks for a Rs 1,100 crore redevelopment deal, potentially surpassing the previous largest deal of Rs 900 crore between Kumar Developers and Khira Nagar residents.
Vijay and Deepak Raheja have split B Raheja Builders, establishing their own firms. The split, deemed amicable, leads to the division of ongoing projects between them.
Sobha Developers sold 40% stake in a Bangalore residential township project to Dubai's Pan Atlantic for $10 million. The project is estimated at 1.05 billion rupees.
Starwood Hotels plans to expand Aloft brand in India across Chennai, Bangalore, Pune, and Ahmedabad starting 2009.
The Indian property market is experiencing a consolidation phase as liquidity issues lead mid-sized developers to sell off properties and attract investors.
Rising inflation and interest rates are slowing down property demand in India. A further interest rate hike could severely impact the real estate sector, except in Mumbai and Delhi where demand remains strong.
Hindustan Times Media Limited has acquired a 0.65% stake in Sunil Mantri Realty for 20 crore rupees to finance new projects, fostering potential growth.
51 Indian districts, including Tiruchirapalli, Amravati, Bhavnagar, Kamrup, and Jabalpur, hold significant market potential, almost double that of the top four metros combined.
Orbit Corp Ltd anticipates adding 8-10 billion rupees worth of projects in 2008/09, driven by redevelopment demand in South Mumbai. The developer forecasts 25% revenue growth despite a market slowdown.
Lehman Brothers invests $175 million in a Mumbai mixed-use project with Unitech and local partners. The project includes 1 million sq ft of office space, part of an 18 million sq ft master plan.
K Raheja Corp partners with the Clinton Climate Initiative to retrofit buildings across India, starting with sites in Mumbai and Hyderabad, and aims to reduce energy and water use.
Indian Hospitality Corporation plans $1 billion investment to acquire hotels and restaurant chains across 17 cities.
Government policies are pushing for green buildings in Asian real estate markets. Driven by regulations, incentives, and market changes, green building growth is influenced by corporate social responsibility and tenant preferences.
Alok Industries is in talks to sell a 20% equity stake in its unit, Alok Infrastructure, to private equity firms, aiming to raise Rs 600 crore for development.
Realty stocks are experiencing a significant decline due to market uncertainty, a slowdown in the real estate sector and rising input costs. Major players like DLF and Unitech have seen substantial drops in their share prices.
Land prices decline across major Indian cities, with drops between 10-50% due to market slowdown and reduced deal volumes.
State-owned pharmaceutical companies are shifting focus to real estate development, leveraging their land holdings to build commercial complexes and IT parks. This move aims to generate revenue and meet social objectives without government assistance.
Mumbai's elite shifting from Malabar Hill to Bandra, with celebrities and business professionals choosing the suburban location.
The Mumbai airport upgrade will unveil 132 acres for non-aeronautical uses, significantly boosting retail, hospitality, and office spaces in the region.
MMRDA plans to build 5 lakh affordable rental houses in Mumbai Metropolitan Region over 5 years, targeting migrants and low-income groups.
Barclays Bank leases 15,000 sq ft at Mumbai's CeeJay House for record-breaking Rs 725 per sq ft monthly rent.