Kolkata’s Commercial Real Estate Gets a Global Makeover

International architects are reshaping Kolkata’s business parks with innovative designs that combine efficiency, sustainability, and visual appeal. Their expertise is enhancing functionality and creating iconic spaces, attracting global businesses to the city.

Mr. B.P. Singh Roy, COO of Keventer Realty, shares: Kolkata’s commercial real estate is evolving, driven by a growing demand for global design expertise. International architects bring innovation through unique facades, efficient layouts, and sustainable designs, enhancing both aesthetics and functionality.

At Keventer Realty, we’ve embraced this by collaborating with renowned architect Stephen Coates for Keventer One. His vision blends striking design with productivity and sustainability, setting new benchmarks for business spaces in the city.

From unique facades to eco-friendly layouts, projects like Keventer 1 exemplify how global design elevates Kolkata’s urban landscape. These developments prioritize smart solutions and employee-centric spaces, setting new benchmarks for commercial real estate.

As demand for modern, sustainable spaces grows, Kolkata is emerging as a hub for global architectural innovation, driving growth and redefining its real estate sector.

Assotech Group Accelerates Expansion Plans with New Projects Across North India and Beyond

India, 22 November 2024: Assotech Group, one of the leading real estate developers in North India, is on a steady growth trajectory with an impressive lineup of new residential and commercial projects. With nearly 38 years of expertise and a diverse portfolio that spans residential, commercial, and retail spaces, Assotech continues to raise the bar in delivering luxurious yet affordable projects that cater to the evolving needs of customers.

The company is expanding its presence across key locations in Gurgaon, Noida, Delhi NCR, and beyond, with landmark projects such as Assotech Pride in Bhubaneswar, Assotech Hills in Ranchi, Assotech The Blith in Gurugram, Assotech The Windsor Court in Noida, and Assotech Celeste Towers in Noida, among others. These new developments offer a combination of residential and commercial spaces designed to provide customers with high-quality living and investment opportunities.

Since its inception, Assotech Group has been dedicated to not only building exceptional infrastructure but also nurturing talent and empowering communities. Through its diversified portfolio of projects across residential, commercial, retail, and hospitality sectors, the company has generated substantial employment opportunities, creating a ripple effect of prosperity throughout the region. With a combined investment of over 2000 crore rupees in the last decade alone, Assotech Group has played a pivotal role in driving economic activity and fostering job creation in Odisha. The company’s projects have not only transformed the skyline but have also served as engines of growth, creating over 9 lakh man-days of employment opportunities in Odisha alone.

Assotech’s growth can be attributed to its commitment to quality, customer satisfaction, and innovative construction methods. With the introduction of new residential and commercial spaces across some of India’s most promising real estate markets, Assotech is continuing to reshape the urban landscape.

Shivani Priyam Patel, Director at Assotech Group, shared, “Our goal has always been to provide our customers with more than just a home – we aim to offer a lifestyle. These new projects, including Assotech Pride, Assotech The Blith, and Assotech The Windsor Court, are not just buildings, but vibrant communities. Each project has been meticulously designed to meet the highest standards of quality and functionality, ensuring that every resident enjoys comfort, security, and luxury. We are constantly innovating to ensure we deliver on our promise to our customers.”

Enakshi Priyam, Chief Operating Officer at Assotech Group, added, “We are experiencing tremendous growth as we expand our presence across key regions in India. Our new developments are a testament to our dedication to operational excellence, sustainability, and creating long-term value for our customers. With a diverse portfolio and a strong market presence, Assotech is poised to continue its leadership in the real estate sector. These projects represent our ongoing commitment to delivering homes and commercial spaces that are in tune with the modern demands of our customers.”

Assotech’s continued success is underscored by its strong market presence in key regions like Delhi NCR and Odisha. The company’s flagship project, Assotech Pride in Bhubaneswar, is a standout achievement. As Odisha’s first township project, it has already garnered significant attention, with more than 1300 saleable units sold in a record time of three months, with a total sales value of over 300 crore rupees. This achievement highlights Assotech’s ability to navigate market uncertainties and deliver projects that resonate with homebuyers.

Other notable developments include Assotech Hills in Ranchi, where the company has expanded its footprint with multiple projects in Morabadi, offering 1 to 3 BHK units that promise high-quality living spaces in a rapidly growing city. Meanwhile, Assotech The Blith in Gurugram and Assotech The Windsor Court in Noida continue Assotech’s tradition of offering luxurious residential options that cater to high-end consumers.

The Assotech Celeste Towers in Noida, with its premium 4 BHK apartments and penthouses, is set to redefine luxury living in the NCR region. These projects, along with the innovative Assotech The Nest and Assotech High Street in Ghaziabad, showcase Assotech’s broad capability to deliver in-demand residential and commercial properties that meet diverse consumer needs.

Assotech is also seeing a surge in demand for its commercial projects. Assotech High Street in Ghaziabad and Assotech 78 Street in Noida are poised to cater to the growing demand for prime retail and office spaces in rapidly developing areas. These projects are designed to meet the needs of businesses looking for high-visibility locations that offer convenience and accessibility.

Mr. Sanjeev Srivastva, Chairman and Founder of Assotech Group, emphasized the company’s forward-thinking approach, saying, “Our focus is not just on delivering properties, but on creating ecosystems where families can thrive and businesses can grow. We have always believed in taking a customer-first approach, and it is this philosophy that has helped us grow from a construction house into one of the leading real estate developers in India. The new projects we are launching are a direct reflection of this commitment to excellence and innovation.”

Assotech Group’s legacy spans over 45 projects and more than 40,000 units delivered. With a portfolio worth close to 33 billion rupees, the company is actively involved in residential, retail, office space, and hospitality sectors. Assotech’s forward-thinking approach to urban development, combined with a commitment to quality construction and timely delivery, ensures the company’s place at the forefront of India’s real estate market.

As Assotech continues to expand its reach across key regions, the company is positioning itself as a dominant player in the real estate sector. With projects underway in states such as Odisha, Jharkhand, Uttar Pradesh, and Haryana, Assotech is set to deliver more high-quality homes and commercial spaces to meet the growing demands of India’s dynamic urban landscape.

Knight Frank Reports on How India’s Economy and Infrastructure Are Shaping Prime Residential Market Opportunities

Mumbai, November 22, 2024: According to Knight Frank’s latest report – Quality Life-ing: Mapping Prime Residential Hotspots, India has been cited amongst the emerging markets in Asia-Pacific (APAC) along with Vietnam and Thailand to experience significant growth. India’s favourable policy environment, strengthening infrastructure and its standing as the fastest growing large economy in the world makes it one of the most compelling markets in the APAC region.

APAC’s prime residential[1] sector is one of the region’s most resilient asset, which has withstood the effects of the pandemic and the onslaught of higher interest rates. Prime residential prices in the region rose for the sixth consecutive quarter at 2.9% year-on-year (YoY) in Q3 2024, with 14 out of 23 markets tracked reporting stable or increasing prices. Manila and Tokyo have witnessed an annual price change of 29.2% and 12.8% respectively in their prime residential prices.

Mumbai ranks 3rd on the annual prime residential price growth index for APAC region, recording a 11.5% YoY increase in luxury property prices in Q3 2024. Mumbai’s outperformance is in line with the performance of Indian stock markets. The investment sentiment remains very strong in the economy, and this is reflected in the growth of the equity indices which have scaled all-time highs, as well as the prime residential prices in this BFSI sector dominated city which saw equally strong price growth.

The city is noted to be 14th most expensive APAC prime residential market at an average price of US$ 953 per sq ft as of Q3 2024. In the city, US$ 1 mn can secure approximately 103 sq m of prime real estate property.

Furthermore, Delhi ranked 5th on the annual prime residential price growth index for APAC region, reporting a 6.5% YoY increment in luxury property prices. The city is noted to be 19th expensive market with an average price of US$ 452 sq ft during Q3 2024.

Bengaluru ranked 7th with prime residential prices growing by 4.8% YoY in Q3 2024. The average price for prime residential market in the city is recorded at US$ 255 per sq ft.

While it is an established offshoring destination, India is also transitioning to higher-value functions such as AI and blockchain, further enhancing its role in corporate business strategy and solidifying its position as a key player on the international stage. The Indian economy is expected to grow by 7.2% in FY 2025 according to the RBI driven by a growth-oriented policy and healthy business environment. Momentum in the residential market in India has significantly increased in 2024, with Q3 recording the highest quarterly sales of 87,108 units, representing a 5% year-over-year (YoY) increase while the premium end of the market grew by a much steeper 41% YoY during the same period.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said “India’s residential real estate sector is experiencing remarkable growth, fuelled by economic expansion, infrastructure advancements, and evolving consumer preferences. With Mumbai, Delhi NCR, and Bengaluru leading in prime residential price growth, the market is demonstrating resilience and establishing itself as a key hub for prime real estate investments. The interplay of a growing economy and evolving lifestyle aspirations positions India as a distinctive and attractive prospect for investment opportunities. 

Housing markets in the Asia-Pacific are broadly characterised by high home ownership aspirations amid persistent constraints in housing supply and sustained economic growth.

India has been cited market with the 3rd highest home ownership rate of 87%, just behind Singapore at 90% and Vietnam at 88%.

Kevin Coppel, Managing Director, Knight Frank Asia-Pacific, shares, “As global wealth shifts and geopolitical landscapes evolve, affluent individuals are seeking prime residential hotspots that provide both lifestyle benefits and financial security. Markets like Singapore, Japan, and Australia continue to attract the world’s most discerning investors, offering not only strong economic fundamentals but also exceptional quality of life, infrastructure, and mobility. In this rapidly changing environment, Asia- Pacific remains a key destination for those looking to secure their wealth and future-proof their legacy.”

Knight Frank’s “Quality Life-ing” Report has identified Asia-Pacific as a premier lifestyle and investment destination, with Singapore standing out for individuals considering relocation. “Quality Life-ing: Mapping Prime Residential Hotspots” report evaluates 15 prominent markets based on five leading indicators: Economy, Human Capital, Quality of Life, Environment, and Infrastructure and mobility.

Singapore, Australia, Japan and Malaysia lead the rankings as Asia-Pacific’s leading lifestyle and investment hotspots according to Knight Frank’s Quality Life-ing Report

Magicbricks Report: Strong Gross Rental Yield of 3.62% May Drive Homebuying Growth

New Delhi, November 21, 2024 – The Indian rental market is witnessing a surge as the average gross rental yield across 13 prime cities reaches an impressive 3.62%, according to Magicbricks’ latest report.

The report highlights significant growth in cities like Chennai and Delhi, which have outperformed the national average. Chennai reported a remarkable 21.3% QoQ increase in rental yields, while Delhi saw an 8.8% rise.

Prasun Kumar, Chief Marketing Officer, Magicbricks, commented on the evolving investment landscape “For decades, homebuyers primarily sought properties for personal use or as a primary residence. However, today’s dynamic real estate market is shifting that trend, with residential investments offering better returns. Encouraged by rising rental yields, we expect many buyers to explore multiple property investments, even leveraging loans to do so.”

Interestingly, the highest rental yields are not in traditional investment hubs like Bengaluru or Delhi but in Ahmedabad, Hyderabad, Kolkata, and Pune. These cities are becoming hotspots for investors looking to maximize rental income.

Ahmedabad tops the list with a rental yield of 3.9%. The city’s average monthly rent has increased by 16.9% YoY to INR 19.35 psf, while property prices average INR 5,927 psf. The combination of affordable property rates and robust rental demand makes Ahmedabad a prime destination for investors.

Hyderabad saw rental yields rise from 3.5% in Q2 2024 to 3.7% in Q3 2024. Average monthly rents surged by 28.2% YoY to INR 25.17 psf, while residential prices experienced a modest 6.2% YoY increase to INR 8,188 psf.

Similarly, Kolkata offers balanced market dynamics with a rental yield of 3.7%. Average rents grew by 12.9% YoY to INR 22.14 psf, attracting investors seeking stable returns in a city known for its affordable living and increasing job opportunities.

Both Hyderabad and Kolkata stand out due to their influx of tenants, driven by burgeoning employment opportunities and cost-effective lifestyles.

For investors, the current market conditions present an opportune moment to capitalize on rental income and property appreciation. With demand remaining robust across major urban centers, these high-performing cities offer lucrative prospects for long-term gains.

Real Estate Sales Soar in MMR & Pune with ₹1,000 Crore Turnover, Says Guardians Advisory

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.

Major Cities See 7.4% Rent Growth QoQ, With Rental Yields Rising to 3.62%, Says Magicbricks

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.

Study Says: Top U.S. States Where Young Drivers Face the Highest Fatality Rates

Davidoff Law Personal Injury Lawyers conducted research to identify and rank the most dangerous U.S. states for young drivers, focusing on states with the highest percentage of fatal incidents with drivers aged 15-20. Key metrics that comprised the research include population, number of registered cars, number of fatal incidents, number of crashes involving unlicensed drivers and speeding violations. The final ranking of each state is determined solely by the percentage of fatal incidents involving young drivers out of total fatal incidents. Additional metrics, like maximum speed limit and speeding violations, offer supporting information, identifying road safety factors that impact young driver risks across different states.
 Key findings summed up:
State Registered Cars (All) Fatal Incidents Fatal Incidents (Young Drivers 15-20) % Young Driver Fatal Incidents Crashes (Unlicensed Drivers) Drivers With Speeding Violations Max Speed Limit
Delaware 914.7K 143 28 19.6% 202 9.65% 65 mph
Nebraska 1.97M 214 41 19.2% 277 10.68% 75 mph
North Dakota 797.4K 96 16 16.7% 101 14.41% 75 mph
Utah 3.08M 296 49 16.6% 408 11.97% 80 mph
South Dakota 918K 121 19 15.7% 152 11.14% 80 mph
Connecticut 2.95M 325 49 15.1% 447 4.74% 65 mph
Alaska 559.8K 75 11 14.7% 104 12.40% 65 mph
Oklahoma 4.29M 643 93 14.5% 816 8.61% 80 mph
Colorado 5.44M 699 101 14.4% 937 12.03% 75 mph
Illinois 10.04M 1,147 163 14.2% 1,462 8.99% 70 mph
Delaware is the most dangerous state for young drivers aged 15-20. With just a low number of registered vehicles, Delaware records a disproportionate number of fatal accidents involving young drivers, resulting in a 19.6% fatality rate for this age group. Delaware’s maximum speed limit is set at 65 mph, and while speeding in Delaware caused 9.65% of fatal auto accidents, the high rate of fatalities suggests other factors at play, such as inexperience and risk-taking behaviors.
Nebraska ranks as the second most dangerous state, having 19.2% total fatal incidents. The state sees a significant number of crashes involving unlicensed drivers (277 incidents), and a 10.68% speeding violation rate. Nebraska’s expansive rural roads and a maximum speed limit of 75 mph create challenging conditions for young drivers who may be less equipped to handle high-speed driving in open spaces.
In North Dakota, which ranks third, the percentage of total incidents comprises 16.7%. The state records the lowest car registration rates and a high number of young driver fatalities. Careless driving and high speed contributed to 14.41% of North Dakota’s speed violations.
Utah ranks fourth, with young drivers involved in 16.6% of fatal incidents. The state’s maximum speed limit is 80 mph, one of the highest in the nation, which may contribute to a high number of crashes (408). Despite a relatively low speeding violation rate of 11.97%, the risks of high-speed driving are evident. While Utah has a strong focus on road safety, the state’s high-speed limits continue to be a challenge for young drivers, requiring ongoing safety efforts.
South Dakota ranks fifth, reporting 121 fatal incidents.  With a maximum speed limit of 80 mph, the state’s expansive roadways may cause risky driving behavior. 11.14% of drivers in South Dakota have speeding violations, and unlicensed driving remains a concern, with 152 crashes. South Dakota’s high-speed rural roads require a level of skills for young drivers, making it a dangerous state for this age group.
Connecticut is the sixth one on the list. The state has a high number of registered vehicles (2.9 million), and its relatively dense traffic environment presents hazards for young drivers, with 447 total number of crashes.  
Alaska comes seventh, having 14.7% of fatal incidents and having registered only 559,800 vehicles in the state.  Alaska’s low population density and challenging road conditions add to the risks for young drivers. Careless driving is a major concern here, causing 12.4% of the state’s traffic incidents.
Oklahoma is in eighth place. The state’s high-speed limits (up to 80 mph) and 8.61% speeding violation rate reflect an environment where young drivers may struggle with the demands of high-speed. Oklahoma’s relatively high rate of road accidents (14.5%) presents more further challenges.
Colorado ranks ninth. With 5.4 million registered vehicles, Colorado’s mountainous terrain, changing weather conditions, and high-speed limits (75 mph) make it a dangerous state for young drivers to navigate. Impaired driving is another factor, with 12.03% of drivers having speeding violations.
Illinois rounds out the top 10 of most dangerous states, with young drivers involved in 14.2% of fatal incidents. Having the highest number of registered vehicles among the top-ranked states (10 million), Illinois sees a relatively high fatality rate among young drivers. The state’s maximum speed limit is 70 mph, and with 8.99% of drivers having speeding violations, the high traffic volume and fast-moving traffic contribute to a challenging environment for young drivers.
Ruben Davidoff, Managing Partner at  Davidoff Law Personal Injury Lawyers commented on the study: “Young drivers face unique challenges on the road, often due to inexperience and the difficulty of navigating high-speed or rural areas. This data underscores the importance of implementing targeted road safety programs, especially in states with high young driver fatality rates. By focusing on safety education, stricter licensing requirements, and increased awareness, we can create safer driving environments and reduce these tragic statistics. We urge both young drivers and policymakers to take proactive steps in making roads safer for everyone.” 

EPACK Prefab Aims to Build India’s Fastest Factory in an Unprecedented 150 Hours

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 20th 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.

Housing Costs in NCR Soar 137% Since 2019, According to PropEquity Data

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.

e5world’ by Aikhya Infra Developers: A 20-Acre Resort-Style Living Oasis Backed by IKF Finance

"‘e5world’ by Aikhya Infra Developers: A 20-Acre Resort-Style Living Oasis Backed by IKF Finance"
(L-R) Dr. Praveen Kumar, Sales and Brand Consultant, e5world; Mr. Raghu Ram Vupputuri, Managing Director, OPUS Industries; Sri Kirtee Shah, Renowned Architect & a key member of e5world’s founding team; Sri Prasad V.G.K., Founder of IKF Finance & promoter of e5world & Adv. Devendra Dang, Legal Professional & Business Consultant; unveiling the brochure of e5world, a 20-acre Oasis of Resort-Style living in Hyderabad from the Aikhya Infra Developers; at a press conference, today at Taj Deccan.

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.