NEO DEVELOPERS, one of the leading builders in Delhi NCR has formally secured the Occupation Certificate (OC) for NEO Square Project located on Dwarka Expressway Sector – 109.

Neo Square is an exceptional commercial hub, featuring a variety of beautifully designed spaces that exemplify world-class standards. This Grade-A development offers seamless connectivity to UER I & II, SPR, and NH-8, making it ideal for high-end market segments. The expansive project includes diverse commercial offerings such as retail shops, a food court, restaurants, supermarket, cinema, and office spaces.

This project is developed in 3.07 Acres of land with 12 lakh Sq. Ft. total built-up area.

• There are numerous features in the project:
• ~6 lakh sq ft of development in Phase – I
• ~1.6 lakh sq ft dedicated to retail from GF to 3F
• ~3 lakh sq ft of office development 5F to 17F
• High speed elevators to ensure ease of movement
• Adequate provision for over 1600 car parks
• Separate drop off points for office and retail
• Vastu compliant ‘East’ facing building
• Energy efficient building
• 24X7 CCTV surveillance
• Fully Air Conditioned with 100% Power Back
• Zero waste generation

In close proximity to major residential developments with over 50,000 dwelling units: Sobha International city, Raheja Atharva, Vedaanta, The Vedas & Shilas, IndiaBulls Enigma, Chintels Serenity, Acropolis & Paradiso, CHD sector 109.

Sept 27^th, 2024 – CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today released its report titled, ‘Fortifying India’s I&L landscape with a new manufacturing growth formula’. The report reveals that the manufacturing sector’s growth has significantly contributed to warehousing demand.  The share of sectors catering to the manufacturing space, including engineering & manufacturing, electronics & electricals and auto & ancillary sectors, within the total warehousing demand across major cities, has increased substantially, growing from 15% in 2019 to 24% in 2023 and 25% in H1 2024. The total leasing for warehousing from these manufacturing-related sectors stood at 4.1 mn. sq. ft. in H1 2024.

As per the report, Pune has shown the highest increase in warehousing and industrial space take-up by manufacturing players, growing from 6% in 2019 to 13% in H1 2024. Delhi-NCR and Kolkata have also seen notable increases, reaching 18% and 12%, respectively, in H1 2024*. This surge is attributed to factors like adoption of the China + 1 strategy by global manufacturers and supportive policies such as the Production Linked Incentive (PLI) scheme, now covering 14 sectors.

 Sectoral distribution of warehouse leasing in manufacturing sector

India’s engineering and manufacturing sector has seen a significant surge in warehouse leasing. The report shows that the sector’s share of total warehouse leasing grew from 8% in 2023 to 11% in H1 2024. The top sub-sectors driving warehouse leasing from 2019 to H1 2024 include domestic appliances, auto components, and the automobile industry, reflecting robust demand across these key segments.

India’s economy continues to demonstrate resilience, exhibiting sustained growth underpinned by several positive indicators. With a surging GDP in 2023 and a projected growth rate of 6.5-7% over 2024-2026, India emerges as one of the frontrunners in the global economic race. This ambitious goal appears increasingly attainable due to a decade of successful policy reforms that have propelled economic growth. The manufacturing sector plays a key role, contributing 14% of GDP and employing over 27.3 million people. In June 2024, the Services PMI hit a 14-year high of 60.5, while manufacturing PMI stood at 58.3, reflecting expansion and the strongest growth in three-and-a-half years. The Index of Industrial Production (IIP) grew by 4.2% in June, pushing overall industrial growth to 5.8% in FY 2023-24.

India’s favorable business environment, boosted by streamlined regulations and a jump in global rankings, has attracted strong foreign direct investment (FDI). Private consumption also continues to drive growth, with its share of GDP rising from 56.5% in FY2012 to 60.3% in FY24.

Favorable Government policies enabling manufacturing growth

To reduce high logistics costs, the government is optimizing freight movement by shifting to more cost-effective and sustainable transport modes through initiatives:

• GatiShakti National Master Plan and logistics-specific reforms
• These efforts aim to improve supply chain efficiency, promote green practices, and enhance India’s manufacturing competitiveness globally

In addition, the Indian government is working to reduce production costs through a series of tax reforms, incentives, and infrastructure improvements. Corporate tax cuts, the Goods and Services Tax (GST), and R&D tax benefits are among the measures supporting growth. Key policies such as the Production Linked Incentive (PLI) Schemes, Make in India, and the National Logistics Policy further reinforce India’s competitive edge.

 Anshuman Magazine, Chairman & CEO, India, Southeast Asia, Middle East & Africa, CBRE, said,“Amidst evolving global geopolitical landscapes and economic challenges, India presents a compelling opportunity for growth. India’s manufacturing sector is on the cusp of a transformative journey, attracting significant interest on the global stage. This remarkable trajectory is driven by a combination of factors, including a stable investment environment, strategic government initiatives, and a thriving domestic market.

Continued economic development in both leading and emerging Asia Pacific markets will boost consumer demand for manufactured goods and further fuel the growth of the region’s manufacturing sector”.

Rami Kaushal, Managing Director, Consulting & Valuation Services, India, Middle East & Africa, CBRE, said, “India’s robust industrial infrastructure has been crucial in driving its manufacturing sector forward. It emphasises the nation’s appeal for ease of business, encourages collaboration, and enhances productivity. Furthermore, it has attracted foreign direct investments (FDIs), driven export growth, and created substantial employment opportunities, cumulatively contributing to the manufacturing sector’s expansion.

Additionally, the government is taking steps to attract private capital and implement administrative reforms to streamline the planning and execution of infrastructure investments, aiming to improve efficiency”.

 Ram Chandnani, Managing Director, Advisory & Transactions Services, CBRE India, said, “The government’s focus on “Make in India” and “Atmanirbhar Bharat” initiatives have set the stage for India’s manufacturing revolution. Strategic government initiatives, a thriving domestic market and a young and skilled workforce, are all coming together to make India a global manufacturing leader. India’s focus on trade agreements holds immense potential for its manufacturing sector and will act as a trade catalyst. This presents a golden opportunity for India’s manufacturers to diversify from the dominance of the services sector and capture a larger share of the global manufacturing pie”.

 Way Forward: India’s Push Towards Becoming a Manufacturing Giant

Advanced manufacturing leverages state-of-the-art technologies to streamline and optimise every aspect of the production process. By embracing these cutting-edge techniques, companies gain a significant competitive advantage, enhancing their productivity, efficiency, and adaptability.

 

Challenge		Recommendations
Project timelines and profitability impacted by delays in land acquisition and obtaining necessary clearances		-Nationwide single window clearance system. -Expedite land acquisition and environmental clearances. -Dedicated committees to oversee project planning and implementation. -Securing land and other necessary approvals prior to issuing project tenders.
Complex infrastructure financing		-Undertake more comprehensive longer-term planning by all levels of government. – Develop suitable investment vehicles and products to attract institutional investors. – Generate revenue streams for new / existing projects
Lack of inter-department coordination delaying clearances / approvals		-Set clear objectives for all stakeholders and decision-makers. -Establish an accountability matrix and a timebound dispute resolution mechanism.
Complex regulatory landscape		– Adopt a uniform and simplified tax structure for infrastructure projects -Develop resilient processes to decode and address complex regulations.
Limited connectivity of industrial complexes		– Adopt ‘comprehensive industrial clusters’ instead of individual parks such as textile clusters, chemical clusters, etc. – New port infrastructure development planning to include integrated industrial zones and comprehensive last-mile road and rail connectivity.
Lack of a domestic container manufacturing ecosystem		– Include the manufacturing of Corten steel as an integral part of the policy essential to make the production of containers cheaper in India. – Rework the PLI scheme for container manufacturing

India’s luxury residential market has seen drastic changes over the years. A report by Cushman and Wakefield says Delhi-NCR is moving ahead among India’s major cities to offer luxury homes with prices to the tune of Rs 15,000 per sq. ft, accounting for 61 percent of all new residential projects. This shows that more spacious and opulent living has become a growing trend.

According to JLL, in H1 2024, Delhi NCR witnessed around 23,500 residential units being launched in the market. This is higher than the 22,707 units launched in 2023. As for new launches, Gurugram dominated with 55%, while Noida contributed 35%. Notably, more than 26% of these new launches, totaling about 6,200 units, comprised luxury apartments priced at over INR 5 crore

Luxury home demand is expected to move upward with rising incomes, greater urbanization, and upcoming airports like Jewar International Airport. It’s an exciting time for both buyers and investors in the luxury real estate market. Delhi-NCR is indeed experiencing huge investments in deluxe projects and a strong aspiration for spacious, high-class homes. Going by the development scale and pace, Delhi-NCR will certainly be one destination that promises unbeaten luxury living experiences to those looking for nothing but the best in terms of comfort and style.

A recent report by Anarock claims there is a growing trend for luxury homes with environmentally friendly features. Luxury residences above Rs 1.5 crore accounted for 45% of all housing sales in the National Capital Region in the first half of 2024. The figure has risen from just 3% in 2019, clearly reflecting a sharp swing towards luxury living that integrates environmental sustainability.

The desire for larger, more open living spaces is also shaping the luxury real estate market. With a focus on comfort and spaciousness, many buyers are shifting toward properties with expansive floor plans and ample outdoor areas. The trend toward open spaces, including green areas and elite clubhouses, reflects a preference for environments that offer both privacy and opportunities for socializing.

Today, people expect features such as private pools, home theatres, spa-like bathrooms, and gourmet kitchens in luxury properties. These features not only enhance the living experience but also cater to the desire for indulgence and convenience in modern homes. Smart security systems are essential parts of homes today. Home automation and voice-activated controls may control lighting, temperature, security, and entertainment systems, all of which are controllable through a smartphone app or voice commands. This increases both the convenience and safety features of such a house.

Prateek Group is one of the renowned developers with luxury projects in Noida and Ghaziabad. With a sharp insight into emerging trends, Prateek Group continues to innovate to deliver residences that epitomize the very essence of luxury living. The Group’s upcoming premium luxury project is focused on personalization, spacious designs, and sustainable practices. This development promises to encapsulate the latest trends in luxury housing, offering buyers ultimate comfort and style.

The luxury real estate sector is an evolving market characterized by the integration of personalization, technology, and seamless sustainability. They are not only opulently expensive surroundings but integrate personal preferences with advanced technology. As trends continue to change, luxury real estate will see even more innovation, adaptation, and evolving customer preferences.

India, Mumbai– 27 September 2024 — Palo Alto Networks®, the global cybersecurity leader announced that it has been named a leader in The Forrester Wave™: Attack Surface Management Solutions, Q3 2024. In the inaugural report, Palo Alto Networks Cortex Xpanse® received the top score in the strategy category and the highest possible scores in the vision, innovation and roadmap criteria. Palo Alto Networks believes this position as a leader further affirms our AI-powered Cortex platform as the leader in security operations center (SOC) transformation.

Gonen Fink, SVP Products, Cortex and Prisma Cloud, Palo Alto Networks:

“Palo Alto Networks delivers an unrivaled platform for SOC transformation, built on truly unified data and powered by AI and automation. As a pioneer of attack surface management, we’re committed to helping customers proactively reduce risk across their entire attack surface with our leading platform for modern security operations. We remain at the forefront of the market, recognizing the essential need for organizations to have comprehensive visibility to effectively manage and protect their increasing number of assets.”

Many organizations are grappling with challenges in managing their attack surfaces that often go unnoticed, with over 23% of internet-connected exposures impacting critical IT and security infrastructure. Organizations simply can’t secure what they don’t know exists. Cortex Xpanse enables organizations to find and automatically fix exposures across their entire attack surface by scanning over 500 billion internet-facing assets daily, enabling teams to discover 30-40% more assets in their environment than they were previously aware of. As part of the AI-powered Cortex SOC platform, Cortex Xpanse delivers attack surface management to the industry-leading XDR, SOAR, and SIEM capabilities to radically transform and simplify security operations.

Palo Alto Networks was recognized as a leader in Forrester’s evaluation that acknowledged eleven vendors and focused on three categories: current offering, strategy and market presence. Palo Alto Networks has also been named a leader in other important evaluations of the security operations market including being named a leader in The Forrester Wave™: Extended Detection and Response (XDR) Platforms, Q2 2024 and The Forrester Wave™: Cybersecurity Incident Response Services, Q2 2024.

Mumbai, September 27, 2024 – Housing.com, India’s leading full-stack proptech platform, today released findings of its IRIS (Indian Residential Index for Online Search) Index, which showcases a significant uptick in homebuyer interest as the festive season approaches.

The latest IRIS Index report indicates a remarkable 10% month-on-month increase in online property search activity for August 2024, pushing the index to 99 points – the highest reading since December 2023. This surge in interest does not come as a surprise to industry experts, with the festive season traditionally driving up real estate transactions in India.

Mr. Amit Masaldan, Chief Revenue Officer, Housing.com, said, “The festive season has always been a seasonal catalyst for the real estate market. What’s particularly exciting this year is the intensity of buyer interest we’re seeing even before the core festive period begins. It’s a clear indication that the market is poised for significant activity in the upcoming festive season, starting with Navratri until December end.”

The ‘September 2024 IRIS Index Report’ from Housing.com highlights several key trends in India’s real estate market. Delhi-NCR leads in online property searches on the platform, with a notable preference for 3BHK properties priced between ₹50 lakh and ₹2 crore. In contrast, Mumbai’s property market shows high demand for 1BHK homes, particularly in the ₹50 lakh to ₹1 crore price range.

Data also show that ready-to-move-in homes remain a top priority for buyers, with 50% of searches focusing on properties available for immediate possession. The most popular price range is between ₹50 lakh and ₹1 crore, while 2BHK apartments are the most searched configuration at 37%, closely followed by 3BHK options at 32%.

Among Tier-2 cities, Indore stands out, experiencing a 4-point monthly increase in searches, making it the most sought-after market in this category. Jaipur, Lucknow and Vadodara top the next three positions on the index. Unlike prime residential markets where 2BHK homes are a priority for buyers primarily due to price pressure, 3BHK units are the most searched configurations in Tier-2 cities.

As the festive season kicks into high gear, Housing.com anticipates a further acceleration in market activity. Developers across the country are gearing up with attractive festive offers, flexible payment plans and new project launches to capitalise on this seasonal uptick in demand.

Mr. Masaldan further added, “The combination of pent-up demand, festive auspiciousness, and strategic developer offerings is creating a perfect storm of opportunity in the residential real estate market. We expect the upward trend in search activity to translate into robust sales figures as we move deeper into the festive period.”

Overall, the findings of the index indicate that despite rising prices, India’s housing market is anticipated to conclude 2024 on a strong note, largely fueled by robust sales during the festive season and an increase in new project launches.

Data available with Housing.com show property prices in majority of prime residential markets showed double-digit growth in the past one year. At the same time, consumer sentiment in India remains robust —on the LSEG/Ipsos PCSI survey for September 2024, for instance, India is placed at the second position after Singapore in a list of 29 countries. The monthly survey tracks consumer attitudes on local economies, personal finance, savings and investment confidence.

Bengaluru, 26th September 2024: Strong leasing activity in the first three quarters of 2024 has pushed Grade A office space demand to 46.7 million sq ft across the top six cities of the country. Building on the momentum in first half of the year, Q3 2024 saw space take-up to the tune of 17.3 million sq ft, a 31% year-over-year (YoY) growth. Bengaluru and Hyderabad accounted for over half of the leasing activity during this period. Bengaluru registered its highest ever leasing in any quarter at 6.3 million sq ft, continuing its dominance in the office market. Pune, notably, with 2.6 million sq ft of leasing activity, recorded 2.6X times space take-up compared to Q3 2023.

With 14.4 million sq ft of completions in Q3 2024, overall new supply too followed the demand growth trajectory, registering 33% increase YoY. Bengaluru and Hyderabad together saw 64% of the quarter’s new supply. Delhi-NCR also saw its highest quarterly supply infusion in the last 8 quarters, at 3.3 million sq ft. Within Delhi-NCR, South Delhi micro market with few significant project completions, accounted for almost 70% of the incremental supply of the city in Q3 2024.

“Office demand across different markets and sectors has been impressive in the last 2-3 years, aiding overall leasing reach new highs each passing year. Interestingly, 2024 saw consecutive quarters of high growth in demand and supply. Office space demand in Bengaluru, Hyderabad and Mumbai have reached close to or surpassed 2023 demand levels in the first three quarters of 2024. Occupier confidence is reflected in continued higher uptake of large-sized deals of more than 1 lakh sq ft, accounting for 65% of total leasing in Q3 2024. Bengaluru saw 81% of its leasing through large-sized deals, while Pune followed closely with 71%, driven by the Tech and BFSI sectors,” says Arpit Mehrotra, Managing Director, Office Services, India, Colliers.

Technology sector drove around one-fourth of the overall office space demand during the quarter, followed by BFSI occupiers and Flex space operators. Interestingly, Bengaluru and Pune surpassed Mumbai in BFSI leasing, and accounted for 39% and 25% share respectively in overall BFSI leasing during the quarter. Flex spaces too saw significant leasing of 3.4 million sq ft in Q3 2024 and accounted for almost 20% share in overall leasing. Select micro markets such as SBD 1 in Bengaluru, Golf Course Road in Delhi NCR, CBD in Pune and SBD in Hyderabad accounted for about 54% of the leasing by flex space operators in Q3 2024[1].

[1]Micro market definition: Secondary Business District (SBD)- 1 in Bengaluru includes – Koramangala, CV Raman Nagar, Internal Ring Road, Indiranagar, Old Airport Road, Old Madras Road, Rajajinagar and others; CBD in Pune includes – Camp, FC Road, JM Road, Koregaon Park, Kalyani Nagar, Shivaji Nagar, Raja Bahadur Mills Road, Senapati Bapat Road, Wakdewadi, Yerwada; Secondary Business District (SBD) in Hyderabad includes – Madhapur, Raidurg, Hitech city and Kondapur

“2024 has already seen impressive flex space leasing, totaling to 7.9 million sq ft—a 20% year-on-year increase. Flex space recorded a new high of 3.4 million sq ft space take up during Q3 2024; surpassing the previous high of 2.6 million sq ft. Delhi-NCR and Bengaluru were the dominant flex space markets, collectively accounting for 55% of the demand this year. Notably, nearly half of the leasing by flex space operators was driven by large-sized deals exceeding 1 lakh sq ft, indicating a growing demand from large enterprises gaining scale.”, says Vimal Nadar, Senior Director and Head of Research, Colliers India.

With demand outpacing supply, vacancy levels remained range-bound across the major markets. Overall, India vacancy continues to hover around 17% at the end of Q3 2024.

New Delhi, 26 September 2024: Ashiana Housing Ltd., a leading real estate developer listed on the NSE and BSE in collaboration with Arihant Foundations & Housing, successfully hosted the Senior Living Conclave 2024 under the theme “Rediscover Joy at 50 and Beyond” at Hilton Hotel, Guindy, Chennai. The event, focused on shaping the future of senior living in India, drew around 400+ attendees, reflecting the sector’s growing importance and recognition.

The conclave explored innovative care options, tech-enabled solutions, and retirement planning tools designed to enhance the lives of individuals over 50. Insights were shared on the rising demand for senior housing, especially in Chennai, which contributes about 74% to the organized assisted living market in South India.

Ankur Gupta, Joint Managing Director of Ashiana Housing Ltd., remarked, “The Senior Living Conclave 2024 reaffirms our dedication to redefining retirement living in India. With our ongoing investment of Rs 700 to 1,000 crores, we are committed to building communities where seniors can thrive independently and enjoy a fulfilling, joyful life. This marks a significant shift in how we approach care and lifestyle for seniors.”

Bharat Jain, Director of Arihant Foundations & Housing, added, “Chennai is emerging as a key hub for senior living, driven by factors like affordability, healthcare access, and the changing family structure. The partnership between Ashiana and Arihant ensures we create vibrant, enriching spaces for seniors, setting a new benchmark in retirement living.”

At the event, Ashiana Housing introduced its latest luxurious sophisticated senior living project, Swarang, a collaboration with Arihant Foundations, located in Chennai’s serene Nemmeli area along East Coast Road (ECR). The project’s extensive amenities, from sports like walking football and croquet to aqua therapy, are aimed at promoting physical well-being, while a place of worship and regular social activities foster community bonding. With an investment of Rs 225 crore and expected sales realizations of Rs 450 crore, the project will be completed in phases, with the first set to be delivered by September 2027.

Delightful in every sense, the sophisticated senior living is meticulously crafted to provide a vibrant and luxurious lifestyle for those looking to celebrate life after retirement. With its prime location, modern amenities, and the trusted reputation of Ashiana, Swarang is set to redefine the post-retirement sophisticated living experience. The homes are elegantly designed by famed architects, with ample ventilation and an abundance of natural light, ensuring a comfortable and secure environment.

A particularly engaging segment of the conclave was the interactive Q&A session, where seniors in attendance actively participated, demonstrating their keen interest in shaping their future living environments. Questions ranged from practical concerns about healthcare facilities and emergency response systems to inquiries about social engagement opportunities and customization options for living spaces.

With over 2,500 seniors already enjoying life in Ashiana’s communities across Bhiwadi, Chennai, Lavasa, and Pune, the company remains a pioneer in senior living. Ashiana Housing reported revenues of Rs 1,800 crore for the financial year 2023-24, with projections to cross Rs 2,000 crore in the current fiscal year.

The Senior Living Conclave 2024 offered a unique platform to discuss the evolving needs of India’s senior population and demonstrated the sector’s rising momentum, with developers and stakeholders investing heavily to meet the growing demand for specialized living solutions.

The YEIDA Housing Scheme 2024 has opened up an exceptional opportunity for homebuyers in the Delhi-NCR region. The fourth episode of ‘Kaam Ki Baat’ by Live Times has once again proven to be an informative source of information for the citizens.

Launched in Sector 22D along the Yamuna Expressway, this built-up housing scheme offers a total of 1,239 flats, ranging from 1 BHK to 3 BHK, across three distinct categories, with prices ranging from ₹21 lakhs to ₹45 lakhs. Flats will be allocated on a ‘first come, first serve’ basis, and interested applicants can apply until March 31, 2025. This scheme boasts a prime location near the Noida International Airport and International Film City, making it a highly sought-after residential option with excellent connectivity.

Additionally, the nearby proposed MSME, handicraft, apparel hubs, and major universities make this scheme not only a desirable living space but also a valuable investment opportunity. The application process is straightforward, and any Indian citizen over the age of 18 can apply.

The latest episode by Live Times effectively highlighted the scheme’s features, prime location, types of flats available, and the application process, ensuring that viewers were well-informed about why this scheme stands out as an ideal choice. Through this episode, Live Times successfully educated its audience about this unique opportunity to own a home in Delhi-NCR, enabling them to make a well-informed decision about this promising housing scheme.