Mumbai, 5 September 2024: The sale of ultra-luxury homes – units priced over INR 40 Cr each – remained unabated in 2024 despite spiralling prices. Latest ANAROCK data finds that a total of 25 ultra-luxury homes were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first 8 months of 2024 for a collective sales value of approx. INR 2,443 Cr. Pune, Chennai and Kolkata did not witness any sales in this rarified price bracket.

 Anuj Puri, Chairman – ANAROCK Group, says, “The whole of 2023 saw about 61 deals with a cumulative sales value of approx. INR 4,456 Cr in Mumbai, Hyderabad, and Gurugram. With four months remaining in 2024 and the festive quarter from October to December ongoing, we are likely to see more such large ticket-size residential deals happening before the year is through.”

Of the total of 25 ultra-luxury homes sold in 2024 so far, at least 20 were high-rise apartments worth approx. INR 1,694 Cr. The remaining five sales were of bungalows cumulatively worth about INR 748.5 Cr.

No. of Homes Priced >INR 40 Cr. Sold in Top Cities
Year	Apartment	Bungalow	Grand Total
2022	10	3	13
2023	57	4	61
2024 (till Aug)	20	5	25

Amid the unprecedented rise in demand for ultra-luxury trophy homes in the last two years, Mumbai tops the list of cities with maximum sales of such properties, despite it being by far the most expensive residential market in India. The financial capital unfailingly attracts HNIs and ultra-HNIs who buy ultra-luxury homes for investment, personal use, or both.

“Notably, the average ticket price of homes priced >INR 40 Crore have witnessed a 2% rise in the last 8 months – from INR 1,00,208 per sq. ft. in 2023 to INR 1,02,458 per sq. ft. in August 2024,” says Puri. “A deeper dive into the data reveals that homes priced >INR 100 crore have seen a 14% price jump in the last eight months alone – from INR 1,24,697 per sq. ft. in 2023-end to INR 1,41,904 per sq. ft. in 2024 till date. This double-digit price appreciation in this segment even before the year concludes stands testimony to the unrelenting appetite for trophy homes. Not surprisingly, leading Grade A developers have scaled up ultra-luxury homes supply in the last few years.”

Total Value (in INR Cr.) of Ultra-luxury Homes Sold
Year	Apartment	Bungalow	Grand Total
2022	730	440	1,170
2023	4,115	341	4,456
2024 (till Aug)	1,694	748.5	2442.50

Of the 25 ultra-luxury properties sold across the top cities in 2024 so far, Mumbai alone sold 21 units collectively worth INR 2,200 crore – an 84% share of the total deals in this segment across the top cities. At least 2 separate ultra-luxury home deals collectively worth INR 80 crore were closed in Hyderabad’s Jubilee Hills. Gurugram in NCR witnessed one ultra-luxury home sold for INR 95 Cr, while Bengaluru also closed one deal worth INR 67.5 Cr.

• Of the 25 deals closed across cities this year, 9 were of large ticket sizes worth over INR 100 Cr. each, and a collective sales value of INR 1,534 Cr. Contrastingly, the whole of 2023 saw 10 such large deals for a collective sales value of INR 1,720 Cr. We may see a new peak created in this segment over the 4 months remaining in 2024.
• Apartments remained the preferred property type for HNIs – out of the total 25 deals, 20 were for apartments and the remaining five for bungalows. At least 80% of the total deals were concluded by businessmen, and 12% by senior professionals from across various sectors. Bollywood celebrities and leading legal and medical professionals accounted for the remaining 8%.

 Ultra-Luxury Homes Demand – A 3-Year Perspective

Demand for luxury and ultra-luxury homes has been scaling ever-rising heights since the pandemic. With demand soaring, developers have gone on a veritable launch spree for such high-priced homes. If we consider the collective data of 2022, 2023 and 2024 till August, over 99 ultra-luxury residential deals worth approx. INR 8,069 Cr. were closed in the top cities.

• At least 13 deals worth approx. INR 1,170 Cr were closed in 2022, of which at least 10 were for apartments and the remaining 3 for bungalows. Mumbai accounted for 11 of these deals, and the remaining two were closed in Delhi-NCR. Notably, none of the remaining 5 top cities saw such large ticket value deals in 2022. Of the 13 ultra-luxury homes sold in 2022, at least 9 were for units priced between INR 100 – 150 Cr – all in Mumbai City.

No. of Homes Sold City-Wise
Year	Delhi NCR	Mumbai	Hyderabad	Bengaluru	Grand Total
2022	2	11	0	0	13
2023	4	56	1	0	61
2024 (till Aug)	1	21	2	1	25

Bengaluru, 05th September 2024: Marriott International Inc. announced that six properties owned by SAMHI Hotels Ltd will convert from franchise to managed entities, enhancing Marriott’s managed portfolio across key business cities in India. The transition of Fairfield by Marriott Mahindra World City, Four Points by Sheraton Chennai OMR, Four Points by Sheraton Jaipur, Four Points by Sheraton Pune, Fairfield by Marriott Hyderabad, and Fairfield by Marriott Ahmedabad to the managed portfolio is expected to complete by October 2024.

By leveraging Marriott’s expertise and robust management capabilities, including the company’s extensive global sales and distribution channels, managed properties reach a wide and diverse audience, enhancing their visibility and revenue potential. Additionally, access to over 210 million Marriott Bonvoy members globally provides a loyal customer base, driving consistent and value led business opportunities.

Pranay Verdia, Area General Manager, Marriott International commented – “This strategic transition marks a pivotal step in our commitment to elevating guest experiences. Over the years we have laid a strong foundation of success with SAMHI Hotels and are now poised to build upon that legacy.

“We have a long-standing relationship with Marriott and integrating these hotels further strengthens that. We are very excited about the prospects of these hotels as they reposition, taking advantage of Marriott’s strong management capabilities,” commented Ashish Jakhanwala, CEO of SAMHI Hotels.

The Fairfield by Marriott brand is known for its comfortable, value-driven accommodation options, providing seamless workspaces and restful stays tailored for the ever-evolving global traveller. Complementing this, Four Points by Sheraton delivers functional guest rooms that strike a perfect balance between work and relaxation, enriched by its signature ‘Style via Comfort’ feature.

Guests at these six hotels will enjoy enhanced benefits and offerings under Marriott Bonvoy, Marriott International’s award-winning travel program and marketplace, that gives members access to transformative, eye-opening experiences around the corner and across the globe. Marriott Bonvoy’s portfolio of more than 30 extraordinary hotel brands offers renowned hospitality in the most memorable destinations in the world. Additionally, the properties will undergo upgrades to align with Marriott International’s high standards for quality and service, ensuring a consistent and memorable stay for all guests.

This transition reinforces Marriott ‘s dedication to providing exceptional experiences at every stay, while guests can expect the highest levels of comfort, service, and innovation at these newly managed hotels.

New Delhi, September 04th, 2024: PropEquity, India’s largest real estate data analytics company, has launched a new business vertical “PropAlert” to provide real-time updates and actionable intelligence of construction activities of real estate projects to home buyers of under-construction properties.

PropAlert is the first and only solution in India specifically designed to safeguard the interests of homebuyers after purchasing under-construction properties. Through this innovative service, PropAlert proactively protects homebuyers from the risk of losing their lifetime savings by identifying and addressing potential issues with stalled projects before they escalate. This ensures that buyers are better equipped to make informed decisions and avoid falling into financial traps.

According to a recent report by PropEquity, more than 5 lakh homes across nearly 2,000 projects are stalled. The government is also making significant efforts by already setting up a dedicated committee under the chairmanship of Mr. Amitabh Kant (Ex-CEO, Niti Aayog). The committee has already held five meetings involving various stakeholders, including state authorities, regulators, real estate developers, homebuyers, and financiers. A recent report released by the committee further highlights the dire state of the situation.

The NSE-listed firm said PropAlert is expected to generate a revenue of Rs 12 crore and gain subscribers upwards of 10,000 by September 2025.

PropEquity is already providing the same project monitoring services to over 70 institutions & banks in 100+ cities & towns.

Commenting on this development, Mr. Samir Jasuja, Founder and CEO, PropEquity said, “PropAlert will usher in an era of enhanced transparency, relevant information & real time alerts for the homebuyer of under-construction properties. With an objective to protect the savings of homebuyers, PropAlert endeavours to bridge the knowledge asymmetry that exists between homebuyers and real estate developers. It will facilitate not just homebuyers

in India but also NRI investors to monitor the progress of their under-construction properties at the click of a mouse.”

PropAlert operates on an unbiased audit conducted by in-house civil engineers who perform on-ground visits, capturing real-time pictures and collecting data across over 100 data points. This thorough process ensures that the information provided is accurate and reliable.

Key offerings include:

● Real-Time Construction Progress Alerts, keeping buyers informed about the status of their projects.

● Project & Developer Alerts for Defaults & Delays, helping buyers anticipate and address potential issues.

● Actionable Intelligence, such as exit options, to safeguard buyers’ investments.

● Developer Record Checks to verify the credibility of developers.

● Legal Checks on both projects and developers to ensure compliance and transparency.

● Comparisons of Nearby Projects to help buyers make informed decisions.

● Historical Price Changes, allowing homebuyers to understand market trends and assess project viability.

The company said it has invested over Rs 200 crore in the last 17 years in P.E Analytics Limited, the parent company of PropEquity and will continue to invest Rs 2 crore every month towards monitoring, tracking, and generating intelligence on projects and developers.

PropEquity’s long history of trust, bolstered by 17 years of comprehensive historical data, positions the company uniquely to address the growing challenges faced by homebuyers in India. No other company is equipped to provide such extensive data and insights to the general homebuying public. As a result, PropAlert is poised to tap into this market single-handedly, offering a solution that no competitor can match in terms of depth and reliability.

Renowned Bollywood actor Ajay Devgn has recently leased out his commercial office space in Mumbai’s bustling Andheri area for a monthly rent of Rs. 7 lakh, as per a transaction reviewed by Square Yards. The ‘Leave and License’ agreement, formalized this September, incurred a stamp duty of Rs. 1.12 lakh. Devgn’s office is situated in Signature Tower, is developed by Lotus Developers.

The project is located along the Veera Desai Road in Oshiwara, one of a prime location in Mumbai’s Western Suburbs. It offers seamless access to major highways, metro station, and is just a short distance from the international airport, making it a highly sought-after area for businesses looking for well-connected office spaces. The locality’s vibrant mix of retail, dining, and entertainment options further elevates its status as a business hub.

Square Yards reports that the leased property spans 3,455 sq. ft. (~ 321 sq. m.) and includes three car parking spaces. The agreement, secured with a Rs. 30 lakh deposit, is for a 60-month (5 years) lease term. The actor, along with his wife, is known to own multiple properties within the same project. They are among several Bollywood celebrities, including Amitabh Bachchan, Sara Ali Khan, and Kartik Aaryan, who have also invested in commercial spaces in Signature Tower.

Ajay Devgn is one of India’s most successful and respected actors, boasting two National Film Awards and the prestigious Padma Shri. His performances in films like Singham, Drishyam, and Tanhaji have cemented his reputation as a powerhouse in Indian cinema. Recently, he has continued to capture audiences with standout roles in Bhuj and Maidaan. The actor has Singham Again, Raid 2, and De De Pyaar De 2 in pipeline.

Noida, Uttar Pradesh, September 2024 – Brick&Bolt, India’s leading tech-enabled construction company known for its innovative solutions, is proud to announce the launch of its first Experience Centre (EC) in Noida. Located at Sector 10, Gautam Buddha Nagar, this state-of-the-art facility marks a significant milestone in the company’s ambitious growth plan to revolutionize the construction industry across the nation.

 Spanning 2,740 sq. ft., the new Experience Centre, combined with office space, is designed to provide customers with an immersive experience of Brick&Bolt’s offerings. Property owners from Noida, Delhi, Greater Noida and Ghaziabad, looking for high-quality construction services but want a more transparent, trustworthy and efficient partner, can walk in to the Experience centre to explore a comprehensive range of products and solutions tailored to meet various construction needs, including the Basic Package, Classic Package, Premium Package, Royal Package, and the Dahlia Package.

 Founded in 2018 by Mr Jayesh Rajpurohit and Mr Arpit Rajpurohit, Brick&Bolt was established with the mission of redefining the construction experience for property owners. The company offers a comprehensive suite of services from design to execution, ensuring seamless delivery, exceptional quality, and customer satisfaction. Key features include over 3,200 customizable floor plan options, 100% money safety with an ESCROW payment mechanism, and a trademarked Quality Assessment System (QASCON) that involves 3 levels of auditing with 470+ quality checks on every project.

 Speaking about the launch, Mr. Jayesh Rajpurohit, Co-Founder and CEO of Brick&Bolt, said, “We anticipate strong engagement from the Noida and NCR market, with the launch of our first Experience Centre in Noida. This region holds immense potential, and our goal is to attract new customers by providing a seamless, omnichannel experience that blends the best of both online and in-person interactions. By showcasing our comprehensive solutions and personalized services, we aim to establish a robust presence and drive significant footfall to the Experience Centre, ensuring that our brand becomes the go-to choice for home and commercial construction in this region.”

 While the Noida EC offers the same high-quality products and solutions available at other Brick&Bolt locations nationwide, the company ensures that its offerings cater to diverse tastes and needs suited to the region. “We maintain a uniform brand standard to ensure that every customer, regardless of location, receives the same high-quality experience and offerings,” added Arpit Rajpurohit, Co-Founder and CTO of Brick&Bolt. “While we take note of local preferences, our core products and solutions remain aligned with our brand values.”

 Brick&Bolt has been at the forefront of driving the shift from an unorganized to an organized construction sector, setting new standards for transparency, efficiency, and quality. Since its inception, the company has completed 7.54 million sq. ft. of construction, encompassing 4,500 units across top-tier cities such as Delhi, Gurgaon, Noida, Ghaziabad, Faridabad, Pune, Bangalore, Hyderabad, Chennai, and Mysore.

 In the near future, Brick&Bolt aims to expand their residential and commercial construction projects across India’s top 25 cities, including Kolkata, Lucknow, Kochi, Nagpur, and Coimbatore, among others, with a goal of delivering

over 35,000 units during this journey. By leveraging technology, they aim to revolutionize urban living and contribute to the development of vibrant, modern communities. Through this expansion, they aim to enhance their market presence while also catering to the growing demand for quality construction in India’s rapidly urbanizing landscape.

Gurugram, September 02nd 2024: Signature Global, a leader in sustainable real estate development, added another feather in its cap for its premium residential project, Titanium SPR, located in Sector 71, Southern Peripheral Road (SPR), Gurugram. The project has been awarded the prestigious EDGE (Excellence in Design for Greater Efficiencies) certification. EDGE is a globally recognized green building certification system that emphasizes resource efficiency in buildings and conferred by IFC(landing arm of World Bank). This recognition highlights the project’s outstanding commitment to environmental sustainability and resource efficiency. Signature Global’s unwavering commitment to sustainable innovation and environmental excellence is further demonstrated by Titanium SPR being the project in Gurgaon to achieve dual certification of both EDGE certification and IGBC (Indian Green Building Council) Gold certification.

Sharing his thoughts, Mr. Lalit Kumar Aggarwal, Co-Founder and Vice- Chairman of Signature Global (India) Ltd., said, “The dual EDGE and IGBC Gold certifications are not just accolades but a reflection of our commitment to environmental conservation and sustainable development. By being one of the only residential projects in Gurgaon to have these dual certifications ensures that homeowners in Titanium SPR will not only enjoy luxurious living spaces but also contribute to a healthier, more sustainable community. We believe in building homes that are in harmony with nature, and Titanium SPR is a shining example of that vision.”

These dual certifications underline the Signature Global’s dedication to creating world-class indoor environments while safeguarding natural resources. The EDGE and IGBC Gold certifications bring numerous advantages to homeowners and the larger community. For residents, these certifications translate into lower utility bills, improved indoor air quality, and enhanced comfort through innovative design and construction techniques. For the community, the reduced environmental footprint of Titanium SPR means a cleaner, healthier environment with fewer carbon emissions and better resource management.

The Titanium SPR project has been meticulously designed to set new benchmarks in sustainable living. The EDGE certification is a testament to this, with the project predicted to save an impressive 67% more energy and 27% more water compared to traditional residential buildings. Additionally, the overall embodied energy savings of the project exceed 42%. These significant reductions not only benefit the environment but also contribute to long-term cost savings for residents. By achieving this certification, Signature Global Titanium SPR has made a lasting impact, ensuring a healthier, more sustainable environment for the community and future generations.

Signature Global Titanium SPR is an aesthetically premium residential project spanning 14.382 acres in Sector 71, SPR, Gurugram. The project features 608 high-end condominiums, offering spacious 3.5 BHK and exclusive 4.5 BHK units designed for privacy and luxury. Each tower rises an impressive 40 floors, inspired by Singapore’s elegant architecture, and integrates biophilic design principles to enhance well-being. Strategically located on the Southern Peripheral Road (SPR), Titanium SPR offers seamless connectivity to Delhi and key routes, including NH-8, the Delhi-Jaipur highway, and Dwarka Expressway. The project is equipped with over 55 exclusive amenities, including a sky garden, subterranean parking, and a grand triple-height entrance lobby, ensuring a resort-like living experience. Titanium SPR exemplifies Signature Global’s dedication to sustainable development, with 91% of the project area dedicated to green and open spaces, and the use of eco-friendly materials that reduce CO2 emission.