Construction and real estate hiring in India surged 86% between March 2023 and 2024, with Delhi, Bangalore, and Mumbai leading the demand, according to Indeed.
Mumbai saw 11,504 property registrations in April 2024, generating over INR 1,043 crore in revenue. Real estate developers are optimistic about growth, citing increased demand and infrastructure projects.
Duplex and triplex homes are the new trend in Mumbai, particularly among luxury homebuyers seeking larger properties. Vertical living is gaining popularity over horizontal spreads.
The construction and real estate sector witnessed an 86% surge in employment between March 2023-24, with Delhi, Bengaluru, and Mumbai leading hiring activity.
The Asia-Pacific real estate market faces volatile conditions driven by interest rate changes, although the concerns around COVID have lessened. India's investments have risen by 16%.
India's luxury housing market saw a 10% YoY sales surge in Q1 2024, with Mumbai leading the demand. Driven by rising incomes and spending power, the segment is poised for continued growth.
Mumbai's real estate market saw a 9% increase in property registrations and a 16% increase in stamp duty collections in April 2024, with millennials making up 37% of buyers.
Amitabh Bachchan purchases a 10,000-square-foot plot in Alibaug for Rs 10 crore. Alibaug is emerging as a popular real estate destination for luxury retreats and investment opportunities.
JLL's Construction Cost Guide predicts India's overall construction costs to rise by 6% in FY2024, with Mumbai being the most expensive city and Chennai a more cost-effective option.
RMZ Corporation announced its global expansion plans, looking to close real estate deals in the US, EU, and UK over the next 12 to 15 months. The company aims to reach $100 billion in assets by 2032.
Elon Musk's Tesla is in talks with major real estate developers for showroom space in New Delhi and Mumbai. The company is looking to rent between 3,000 and 4,000 square feet.
Mumbai's real estate is transforming with the rise of micro-markets like Dombivali and Thane. These areas offer unique opportunities, catering to specific demographics and lifestyle needs, driven by improved connectivity and infrastructure.
MahaRERA orders L&T Realty to return payment with a 2% deduction, following a similar ruling against Godrej Properties.
Developers in Maharashtra anticipate increased home sales during Gudi Padwa, providing incentives like discounts and flexible payments. Experts note rising property prices and strong buyer sentiment.
Godrej Properties reported record sales bookings of Rs 22,500 crore in FY24, an 84% YoY increase, driven by strong housing demand and successful project launches.
India's Q1 2024: 9% rise in home sales, 43% surge in office leasing, driven by global capacity centers, with Mumbai leading residential growth.
MahaRERA directed Godrej Properties to refund a homebuyer after cancellation exceeding the 2% permissible deduction as per RERA guidelines, setting a precedent for similar cases.
Residential sales in Bengaluru fell 2% YoY in Q1 2024, while sales of units priced above Rs 1 crore saw a 40% increase across top 8 cities.
Mumbai’s luxury real estate sees a 10% annual price increase, with Delhi-NCR and Bengaluru also showing growth according to Knight Frank’s Prime Global Cities Index.
Indian real estate developers aim for 3,000 acres in land deals in FY24, a 59% increase from last year, driven by increased land availability and high demand.
Indian real estate began 2024 strongly, with residential property demand rising despite price increases. Top cities saw increased housing sales, indicating market resilience.
Mumbai and Gurgaon see significant increases in coworking rental prices, with Mumbai rising by 27% and Gurgaon by 19% over the past four years, according to a MyHQ by Anarock report.
Indian home prices are projected to rise by 7% this year and next, driven by luxury real estate demand. The affordable housing gap remains a concern despite interest rate hikes by the Reserve Bank of India.
Bengaluru's rental inflation exceeds Singapore's due to a 20-30% rent increase, driven by companies ending work-from-home policies.
In the Mumbai real estate market, developers are reintroducing 'buy now, pay later' schemes to boost sales amidst excess inventory and increased competition.