Mumbai, 20 November 2024: The festive season has proven to be beneficial to Mumbai and Pune’s real estate markets, with industry statistics and sales numbers indicating a significant increase in buyer activity across the region. The Guardians Real Estate Advisory had the most festive sales turnover of ₹1,019 crore in the Mumbai Metropolitan Region (MMR) and Pune. The company reported 638 apartments sold, totaling more than 4.23 lakh square feet of carpet space, indicating increasing demand as buyers seek properties during this fortunate time of year.

According to the latest study, the surge in seasonal property sales is reflective of overall market strength. In October 2024, registrations in Mumbai’s property market increased by 22% year on year, to 12,960 units, up from 10,607 units in October 2023. The festival season, particularly Dussehra and Diwali, contributed significantly to these results, reflecting buyers’ renewed confidence in both residential and commercial real estate purchases.

In October, Mumbai’s high-value properties (priced above ₹2 crore) sold 2,876 units, or 22% of all registrations, up from 18% the previous year. This shift towards premium property investments indicates a changing buyer preference for high-end real estate, strengthening Mumbai’s reputation as a resilient, in-demand market.

Ram Naik, Co-founder & Director stated, “Festivals have a profound cultural link for buyers in India, and this year has demonstrated how closely these events are tied to high-value purchases. The holiday season has once again proved that homebuyers regard now as an advantageous time to make long-term investments in high-quality residences. This trend strengthens Mumbai and Pune’s position as significant hubs for residential and commercial development.”

According to Manan Shah, Managing Director – MICL Group, “Luxury real estate in Mumbai has seen an exceptional response over the past year, and this momentum has only intensified during the festive season. The evolving customer mindset towards luxury, especially in South Mumbai, reflects a sophisticated understanding of the value in high-end real estate. Buyers today not only seek prestigious addresses but also demand international-quality finishes, bespoke fitments, and lifestyle amenities that rival the best globally. At MICL, we’re attuned to these preferences, meticulously focusing on every aspect that defines world-class luxury, and the market’s positive response has been a testament to this commitment. Developers who prioritize uncompromising quality and understand the nuances of true luxury will continue to thrive in Mumbai’s ever-evolving real estate landscape.”

Echoing this, Amit Haware, CEO & Joint MD – Haware Properties stated, “This festive season has brought exceptional growth in real estate, particularly in the affordable housing sector, where we’ve seen strong demand. The dream of homeownership is becoming a reality for thousands of families, thanks to our partnership between Haware Properties and The Guardians. Together, we’re committed to making homeownership accessible, especially in the rapidly developing areas across the Mumbai Metropolitan Region. Enhanced connectivity and infrastructure are fueling this trend, creating promising opportunities for new homebuyers. This isn’t just a seasonal uplift—it’s a promising trajectory we expect to continue for the coming years.”

This trend has been reflected in The Guardians Real Estate Advisory’s sales success in 2024. This financial year, the company generated ₹515 crore in sales turnover on Akshay Tritiya, ₹350 crore during Dussehra, and ₹361 crore during Diwali week, showing a regular pattern of auspicious days attracting serious customers. The Guardians’ ₹1,019 crore sales turnover this season demonstrates buyer confidence in the long-term worth of real estate investments during the festival season.

As the market approaches 2025, the real estate sector anticipates that the festive pace will continue, with premium developments, auspicious-day transactions, MMR, and Pune leading the way.

New Delhi, November 18, 2024: Magicbricks, India’s leading real estate platform, published its latest Rental Update, highlighting that between July and September 2024, average rents increased 7.4% quarter-on-quarter (QoQ) across 13 major Indian cities[1] to INR 35.8 per square foot per month- the highest increase in the last 2 years.

Chennai recorded the sharpest increase at 22.2% QoQ, moving from INR 17.94 psf in Q2 2024 to INR 26.91 psf in Q3 2024. Delhi and Thane also saw significant jumps, with Delhi’s average rent rising 11.4% QoQ to INR 37.55 psf and Thane’s rent increasing 10.9% QoQ to INR 33.10 psf.

According to the report, Mumbai remains the priciest rental market at INR 86.50 psf per month, followed by Delhi at INR 37.55 psf and Navi Mumbai at INR 33.83 psf. Meanwhile, developing markets of Greater Noida (INR 15.48 psf), Noida (INR 21.32 psf), and Kolkata (INR 22.14 psf) are more affordable.

Elaborating on the same, Prasun Kumar, Chief Marketing Officer, Magicbricks “This year, rental demand has shown a strong quarter-on-quarter surge, driving rents to the sharpest increase we’ve seen over the past eight quarters. It’s evident that ready-to-move apartments are increasingly being purchased for self-use, contributing to a decline in rental supply. Meanwhile, the rise in under-construction supply suggests potential for market balance in the coming quarters, as more inventory becomes available.”

The report detailed that after a notable increase of 14.8% quarter-on-quarter (QoQ) in rental demand during the previous quarter (April to June 2024), the demand continued to increase, albeit at a slower pace of close to 2%. However, the supply of rental properties has not kept pace, declining by 6.7% QoQ in the third quarter (July to September). This imbalance between demand and supply has contributed to the upward pressure on rental prices.

The report concluded that gross rental yields across 13 cities reached 3.62%. Ahmedabad led with the highest yield at 3.9%, followed by Hyderabad, Kolkata, and Pune at 3.7% each. Chennai saw the largest QoQ yield growth at 21.3%, with Delhi, Hyderabad, and Navi Mumbai also reporting strong increases at 8.8%, 5.4%, and 5.3% respectively. However, Greater Noida, Gurugram, Kolkata, Mumbai, Noida, and Pune recorded declines as property price growth outpaced rental rate growth.

Mumbai, 18th November 2024: EPACK Prefab, India’s pre-engineered building (PEB) manufacturers, has announced its ambitious plan to construct India’s fastest factory building structure using advanced prefab and PEB technology in a record-breaking 150 hours. The project is scheduled to commence on November 18th in Mambattu, Andhra Pradesh.

With an expansive area of 151,000 square feet, the project will rely on EPACK Prefab’s innovative PEB technology and meticulous planning to achieve each construction phase on the set timeline. By pushing the limits of PEB technology, EPACK Prefab aims to highlight the potential of prefabricated structures to address India’s urgent infrastructure needs without compromising on quality, durability, or environmental standards.

Commenting on this endeavour, Mr. Sanjay Singhania, Managing Director of EPACK Prefab, said, “At EPACK Prefab, we believe in setting industry benchmarks through innovative construction methods. This 150-hour challenge exemplifies our vision of agile, sustainable, and high-quality building solutions. Our team has meticulously planned each step to ensure precision at every stage, and we are excited to showcase the speed, efficiency, and resilience that PEB technology can bring to the Indian construction industry.”

The 150-hour project is divided into three phases. In the first phase, the primary structure will be erected using prefabricated components, providing a solid foundation for vertical expansion. The second phase will involve the completion of roofing, and creating a resilient enclosure for the building. The final phase will focus on cladding, interior finishes, and other detailing, resulting in a fully functional structure within the 150-hour timeline.

New Delhi, November 15, 2024: On the back of renewed investor confidence, strong homeownership sentiments, large-scale infrastructure development and rising cost of land and construction, the National Capital Region (NCR) saw an astounding 137% rise in housing prices with Noida, Gurugram, Ghaziabad and Greater Noida seeing prices more than double between 2019 and 2024 September, according to a report by PropEquity

According to a data released by NSE-listed firm PropEquity, between 2019 and September 2024, Noida saw the highest rise at 152% (from Rs 5910 per sq. ft. to Rs 14,946 per sq. ft.) followed by Ghaziabad at 139% (from Rs 3691 per sq. ft. to Rs 8823 per sq. ft.), Gurugram at 135% (from Rs 8299 per sq. ft. in 2019 to Rs 19,535 per sq. ft. in 2024) and Greater Noida at 121% from Rs 3900 per sq. ft. to Rs 8601 per sq. ft.).

Commenting on the data, Samir Jasuja, Founder and CEO, PropEquity said: “The NCR is witnessing an infrastructural metamorphosis never seen in decades with developments like Noida International Airport, Dwarka Expressway, Delhi-Meerut expressway, Rapid raid, metro expansion among others providing the much-needed fillip to all segments of real estate. The pandemic further gravitated investors’ money and homebuyers’ sentiments towards real estate. Additionally, the emergence of branded developers and Government efforts have reinstated the confidence of investors, homebuyers, corporates and brands in the NCR market. The NCR market will continue to outperform other tier 1 cities and see more investment and expansion from branded developers.”

	2019			2024 YTD			% change
	Supply (Units)	Absorption (Units)	Wt.Avg New Launch (INR/SFT)	Supply (Units)	Absorption (Units)	Wt.Avg New Launch (INR/SFT)	Supply	absorption	Wt.Avg New Launch (INR/SFT)
Gurugram	6,494	6,640	₹ 8,299	20,902	17,045	₹ 19,535	221.87%	156.70%	135.39%
Ghaziabad	4208	5750	3691	4792	3978	8823	13.88%	-30.82%	139.04%
Noida	8372	9498	5910	4912	4314	14946	-41.33%	-54.58%	152.89%
Gr. Noida	9522	22464	3900	12922	13744	8601	35.71%	-38.82%	120.54%
NCR	28,596	44,352		43,528	39,081		52.22%	-11.88%	136.97%

On the supply front, Noida witnessed a decline of 41% while Gurugram saw an astounding 222% rise, Ghaziabad by 14% and Greater Noida by 36%. In absorption, except Gurugram which rose by 157%, Noida, Ghaziabad and Greater Noida saw a decline of 55%, 31% and 39% respectively.

“The unsold inventory has seen a consistent decline across all markets with Noida, Greater Noida and Ghaziabad seeing significant decline. The efforts of the UP government towards resolving the stalled project crisis have helped in reducing the inventory,” Jasuja added.

PropEquity reported had highlighted that Greater Noida has 167 stalled projects with 74,645 units. Noida has 103 stalled housing projects comprising 41,438 units, while Ghaziabad witnessing 50 stalled projects with 15,278 units. Gurugram has 158 stalled projects with 52,509 units.

Hyderabad, 14 November 2024: Aikhya Infra Developers backed by the promoters of IKF Finance, a leading force in India’s non-banking financial sector, announced the unveiling of e5world, a 20-acre resort living community set to redefine luxury in Hyderabad. Mr. VGK Prasad, Founder of IKF Finance and promoter of e5world, announced the details of the project at a press conference organised at Taj Deccan; alongside Mr. Kirtee Shah, a renowned architect, urban planner, and a key member of e5world’s founding team; Mr. Raghu Ram Vupputuri, Managing Director, OPUS Industries; Adv. Devendra Dang, Legal Professional & Business Consultant & Dr. Praveen Kumar, Sales and Brand Consultant, e5world.

e5world introduces a groundbreaking concept in resort-style living, thoughtfully designed to blend luxury, wellness, and nature in perfect harmony. Spanning 20 lush acres, e5world is meticulously crafted with curated landscapes, premium amenities, and architecture that draws inspiration from nature. The development is structured into three distinct phases of Phase 1 spanning 5 acres, Phase 2 spanning 10 acres, and Phase 3 encompassing an additional 5 acres. e5world’s unique approach combines the best of upscale resort living with the serenity of a green sanctuary, setting a new benchmark for luxury, wellness, and sustainable design in Hyderabad.

Backed by the promoters of IKF Finance, a trusted financial powerhouse with a market capitalization of ₹2,356.99 crore, e5world is set to transform Hyderabad’s luxury living landscape. This project reflects IKF’s legacy of stability and innovation, guided by the vision of Mr. VGK Prasad, Founder of IKF Finance, and Mr. Keerti Shah, an esteemed architect with decades of expertise, who joins the project’s founding team.

At the unveiling event, Mr. Prasad remarked, “e5world is more than a luxury resort living community; it embodies IKF’s commitment to quality, innovation, and sustainable living. Partnering with Mr. Keerti Shah brings a visionary approach to the architecture and landscaping of e5world, creating a space where nature and luxury harmoniously coexist. With Mr. Shah’s architectural acumen and IKF’s financial strength, e5world stands as a testament to Hyderabad’s future in sustainable, upscale living, offering residents an unmatched blend of luxury and environmental consciousness. The demand for eco-luxury resorts is on a rapid rise and investors are looking for opportunities to invest in projects that align with their values, sustainability and long term growth. e5world offers an unique opportunity for investors with the introduction of fractional ownership, this model enables multiple investors to own a share of the resort.”

Mr. Raghu Ram Vupputuri said, as a fractional ownership model, we are making it affordable for everybody, also an hassle free investment option, at less than Rs 10 lakhs one can own a portion of the resort. It is also a weekend destination for families to spend time together in a serene atmosphere. The resort will be operational within a year.

e5world’s extensive amenities are designed to cater to all ages, from young families to seniors. The key features of the project include Three Clubhouses, spanning 10,000, 30,000, and 50,000 sq. ft., these spaces offer yoga rooms, wellness zones, pools, and entertainment facilities. It has Two restaurants featuring global and local cuisine, with a focus on fresh, organic ingredients. Expansive Green Spaces: Open gardens, water features, and walking paths designed for relaxation and community interaction. It has dedicated Adventure areas for children, nature trails, and wellness lounges for adults and seniors.

In addition to traditional ownership options, e5world offers fractional ownership to make luxury living accessible to more people. The community also provides exclusive membership packages, giving Hyderabad residents an opportunity to regularly enjoy e5world’s world-class amenities.

Dr. Praveen Kumar said, e5world is going to be one destination that Hyderabadi’s are going to enjoy, it is going to take care of the needs of people of all age groups for various celebrations, at an affordable cost.

Mr. Kirtee Shah, a guiding visionary of e5world, shared his excitement for the project, “e5world is grounded in sustainable architecture and wellness-driven living. Our goal is to create a place where residents reconnect with nature while enjoying modern comforts. e5world stands as a model for eco-friendly, luxury living, blending natural landscapes with contemporary amenities to offer a refreshing take on community life.”

e5world stands as a groundbreaking project, being the first resort living community in India conceptualized entirely by AI. This innovative approach, powered by QLead.ai under the leadership of Dr. Praveen Kumar, integrates AI-driven insights into every aspect of e5world—from market communication and product-market fit to revenue projections and strategic planning.

As Aikhya Infra Developers first venture into luxury resort living, backed by the promoters of IKF Finance, e5world reflects a natural expansion from the company’s solid foundation in financial services. Established in 1991, IKF Finance has consistently demonstrated financial excellence, growing its portfolio to include vehicle, MSME, and housing finance. With a presence in 9 states and a consolidated and estimated turnover of 613.76 crore, IKF Finance’s backing ensures e5world’s stability, quality, and long-term value.

New Delhi, 14 November 2024: DBS Bank India Limited, the wholly owned subsidiary of DBS Bank Ltd., announced today that Surojit Shome, MD & CEO of DBS Bank India, will be retiring on 28 February 2025. DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994.

Following a successful career at the helm of DBS Bank India since April 2015, Surojit Shome had indicated his desire to retire some time back and has worked with the DBS Bank India board and DBS Group management to identify potential successors. DBS Bank India is currently awaiting RBI approval on the successor and will make an announcement once regulatory approvals are in place.

Mumbai, November 14, 2024: NAREDCO Maharashtra NextGen, in partnership with Brigade Real Estate Accelerator Program (REAP), is excited to announce the strengthening of PROPEL, an innovative initiative designed to empower emerging entrepreneurs in India’s dynamic real estate sector. Brigade REAP has till date incubated 76 startups in the Proptech Space, the highest in India. Along with the Earth Fund, a 200 Cr Proptech Venture fund, this represents the largest ecosystem for Proptech startups in India.

PROPEL, will be prominently showcased at Excelerate 3.0 a premier event dedicated to advancing technology and innovation in the real estate industry, at Hotel Sahara Star, Mumbai, on November 14, 2024.

As part of this initiative, Brigade REAP, one of India’s leading PropTech accelerators, will collaborate to provide critical funding, mentorship, and strategic support to these startups. The tie-up brings together NAREDCO Maharashtra’s vast industry network and Brigade REAP’s expertise in scaling PropTech ventures, creating a powerful platform for entrepreneurs to bring their ideas to life and scale rapidly.

Mr. Prashant Sharma, President, NAREDCO Maharashtra said, “India’s real estate sector is at crossroads, and the need for innovation has never been greater. By partnering with Brigade REAP, we are ensuring that emerging entrepreneurs have access to not only the capital they need but also the strategic guidance that will help them succeed in this fast-paced environment.”

Mr. Rajan Bandelkar, Vice Chairman, NAREDCO said, “PROPEL is designed to provide a comprehensive ecosystem that fosters creativity, sustainability, and cutting-edge solutions that can address the evolving challenges of urbanization. This partnership with Brigade REAP will offer both funding and strategic support that will give startups the tools they need to address the challenges and opportunities of the evolving real estate market.”

Mr. Ridham Gada, President, NAREDCO NextGen Maharashtra said, “We are excited to strengthen PROPEL through our collaboration with Brigade REAP, leveraging their expertise to support the growth of PropTech startups. Brigade REAP has been a pioneer in fostering PropTech innovation in India, and this partnership amplifies our shared vision of accelerating the next wave of disruptive technologies in real estate.”

At Excelerate 3.0, PROPEL will take center stage as a key part of the event’s focus on innovation in real estate. The event will bring together top players from the real estate, technology, and startup ecosystems to explore emerging trends in smart cities, sustainability, artificial intelligence, and more. Participants will have the opportunity to pitch their ideas, gain exposure, and potentially secure funding from a wide array of investors, including those backed by Brigade REAP.

PROPEL will focus on providing participants with mentorship from industry leaders, access to funding, and opportunities to network with potential investors, developers, and other key stakeholders. With the support of Brigade REAP, startups will also gain access to a host of resources, including investment opportunities, market insights, and the expertise of experienced PropTech mentors.

Bengaluru, November 14, 2024:  During the July-September 2024 quarter, a total of 25,259 residential units, including apartments and plots, were registered with the Inspector General of Registration (IGR) in Bengaluru, according to data from Square Yards. This figure represents a slight year-on-year decrease of 8% compared to the same period in 2023. The sales value for these properties amounted to Rs. 15,739 crore, marking a 15% decline from the Rs. 18,505 crore recorded in the July-September quarter of the previous year. Consequently, the average home sales value saw a modest yearly reduction of 7% during this period, with the current average home price in Bengaluru standing at Rs. 62 lakh.

“Bengaluru’s residential market has seen a modest moderation in transaction momentum in the July-September 2024 quarter, a natural adjustment following a period of rapid growth”, said Sopan Gupta, Principal Partner, Square Yards. “During the festive season, we’ve seen heightened homebuyer interest, and as registrations generally complete within three to six months post-booking, we anticipate this demand to manifest in the upcoming quarters. Interest remains strong across both apartments and plots, with the northern micro-market gaining traction in particular. Looking ahead, we expect demand to continue on an upward trajectory, driven by resilient end-user and investor appetite. Ongoing infrastructure development, such as expansion of metro network and tech-infrastructure coupled with heightened office space uptake from major global tech players, are set to positively trickle in residential market in Bengaluru.”

Market Leaders and Key Projects

Among developers, Embassy Group led with the highest home sales value, reaching Rs. 295 crore. Their projects, Embassy Springs, a residential plotted project in Devanahalli, and Embassy Lake Terraces, an residential apartment project, in Hebbal, emerged as the top projects in terms of sales value. Close behind was Prestige Group, with Prestige Golfshire leading in sales value among its projects in July-September 2024 period.

In terms of transaction volume, Artha Property and Tata Realty held the lead. Artha Emprasa Startup City in Hoskote recorded the highest number of transactions in the September 2024 quarter, with Tata Realty’s New Haven coming in as a close second in Bengaluru. Both Birla Estates and Godrej Properties also made notable contributions, registering significant home sales values and transaction volumes, respectively.

Area & Budget-wise Trends 

In July-September 2024 quarter, the majority (86%) of property transactions in Bengaluru were concentrated in the price bracket below INR 1 crore. The remaining transactions were in the INR 1 crore and above category, with a notable 8% in the INR 1-2 crore range. Apartments ranging from 1,000 to 1,500 sq. ft. accounted for the largest share of transactions at 47% of the 25,259 total registrations. This trend indicates a continued preference for larger living spaces, driven by the adoption of hybrid work models in IT/ITes sectors, which have influenced post-pandemic housing demand in the city.

Micro Market Performance

Bengaluru’s micro-market trends indicate that North Bengaluru remains the city’s most active region, accounting for 40% of registered transactions during the September 2024 quarter. The micro-market’s proximity to Kempegowda International Airport has driven increased demand, particularly for plot acquisitions. Localities such as Chikkasanne and Chikkasandra, led activity within the northern micro-market. South Bengaluru followed closely with a 25% share of total transactions, with Jayanagar and Electronic City standing out as key localities. Notably, Jayanagar recorded the highest home sales value in Bengaluru, totalling Rs. 469 crore, while Krishnarajapuram led in transaction volume, with 192 units sold during the quarter.

New Delhi, November 13, 2024: In response to the growing residential demand, Magicbricks, India’s No. 1 real estate platform, has introduced its Site Visit Product, designed to simplify property site visits and boost developer sales.

The Site Visit product addresses key challenges for both home buyers and developers. Many homebuyers, due to busy schedules, miss out on visiting multiple properties while deciding on their ideal home. On the other side, developers face challenges in engaging high-intent customers effectively.

The Site Visit product offers a comprehensive experience, beginning with expert project recommendations tailored to buyers’ specific needs. By considering factors such as budget, location, and configuration, Magicbricks curates a shortlist of properties that aligns with buyers’ preferences. Furthermore, the product provides logistical support, ensuring a seamless experience as buyers visit selected properties.

In Phase 1, the program has facilitated more than 16,000 site visits across 350+ projects across India, and has already delivered 1000+ bookings, in under a year.

Sudhir Pai, CEO of Magicbricks shared “This initiative not only simplifies decision-making for buyers but also provides logistical support, benefiting developers by presenting a more focused audience and creating an effective sales funnel by bringing in high-intent buyers to tour new properties. It further adds value through repeat visits, signaling strong buyer interest. In some instances, buyers have viewed 4-5 properties in one day, reducing decision-making time by nearly 50%.”

Magicbricks is India’s No.1 property site

As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property listings. Magicbricks has metamorphosed into a full stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.

With 17+ years of experience and deep research-based knowledge, Magicbricks also presents a repertoire of insight-driven platforms like MBTV- India’s leading online real estate YouTube channel, and other proprietary tools so that home buyers can access all information related to price trends and forecasts, locality reviews and more.