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.

The real estate sector has always been unpredictable. From fluctuating interest rates to shifting buyer preferences, regulatory uncertainties, and the rising importance of sustainability, the sector is in constant flux. Hence, leaders in the sector are adapting to these evolving dynamics and trends.

Agility and innovation have become absolutely necessary tools for real estate leaders in this competitive market. The pandemic, notably, reshaped the sector trends overnight, with buyers prioritizing larger homes with flexible spaces for work and leisure. Meanwhile, sustainability and wellness are emerging as key factors influencing purchasing decisions. Further, factors like macroeconomic and geopolitical forces are reshaping the sector in profound ways. Persistent inflation and rising interest rates have increased borrowing costs, making both residential and commercial property purchases more expensive. This environment challenges affordability and slows demand, pushing real estate leaders to rethink pricing strategies and explore creative ways to maintain customer interest.

Besides, the real estate sector is increasingly shifting towards sustainability, with leaders adopting eco-friendly building practices and energy-efficient designs. This shift reflects a growing awareness of the environmental impact, regulatory pressures, and demand from consumers and investors for more sustainable and responsible developments. To meet these demands, leaders are integrating green practices throughout the building lifecycle. Many new projects emphasize energy efficiency through smart systems, solar panels, and high-performance insulation to reduce carbon emissions and operational costs.

Additionally, there is a heightened focus on creating community-centered environments where residents can connect and engage with one another. The real estate sector now includes shared spaces like gardens, fitness centers, and communal lounges, fostering a sense of belonging. These spaces are carefully crafted to promote physical and mental well-being, providing residents access to healthy living options, such as outdoor activity areas, meditation zones, and eco-friendly designs.

Rajjath Goel, Managing Director, MRG Group says, “Real estate today demands that we look beyond conventional wisdom. As developers, we embrace innovation while staying grounded in our core values. At MRG Group, we’ve invested in green technologies that not only reduce carbon footprints but provide long-term cost benefits. Sustainability is at the heart of everything we do, ensuring that our developments contribute positively to the future.”

Harinder Singh Hora, Founder Chairman, Reach Group, says, “Amid the evolving consumer needs, adapting to change has become a necessity. At Reach, we believe in more than just functionality and offer a truly enriching experience for our customers. Our project’s design processes go beyond aesthetics and extend to a deep understanding of human behaviour. We develop spaces and offices that serve as invigorating grounds of collaboration and destinations that inspire a feel-good factor.”

Uddhav Poddar, Chairman and Managing Director of Bhumika Group shares, “In today’s ever-evolving work-life landscape, it’s essential for leaders to adopt resilient strategies that drive sustainable growth. By focusing on high-demand property types, we can help stabilize returns, especially in markets with consistently strong demand.

“At Bhumika Realty, our portfolio encompasses a wide range of thoughtfully designed residential, commercial, and mixed-use projects, all celebrated for their purpose-driven architecture and sustainable practices. Our unwavering commitment to quality, transparency, and customer satisfaction remains at the heart of everything we do. We are devoted to creating vibrant spaces that elevate the lives of their inhabitants, fostering not only functional, but truly meaningful living environments.”

Roshy Chhillar, Director, Landmark Group says, “Diversity in leadership plays an important role in innovation and relevance in real estate offerings. Female leaders in real estate bring invaluable perspectives that help shape more inclusive, community-focused housing solutions. Their leadership often emphasizes empathy, attention to detail, and a keen awareness of diverse lifestyle needs, all of which enhance decision-making and drive meaningful change within the industry. At Landmark, we believe in creating environments that support life, work, and well-being where people can thrive.”f

Looking ahead, through adaptive strategies, leaders are meeting the evolving needs of modern buyers. The drive towards eco-friendly, resilient, and inclusive developments reflects a commitment to both market relevance and responsible growth. As these leaders steer through economic, social, and environmental challenges, they’re not only shaping the real estate landscape but also contributing to a more sustainable and inclusive future.

Anjana Sastri, Director – Marketing, Sterling Developers

The luxury residential real estate sector is registering phenomenal growth in India through a desire to experience exceptional living environments and an enhanced emphasis on community and well-being. The ultimate luxury home is more than a property – it is a mix of individual and collective comfort that is propelling the market. The pandemic goes way back now, but the lessons it imparted hold great importance – as everyone realised the value of health, wellness, and safety, and hence luxury homes began to take centre-stage by redefining living standards geared towards an elevated calm.

Thriving micro-markets, a great investment incentive

While the high-end segment certainly provides a superior life and commune, investors see a sharp positive appreciation in thriving micro-markets in urban and suburban India, and hence see no serious fault-lines in premium home investments. In Bengaluru, this trend is especially evident. According to a CREDAI report, there has been a notable increase in new property launches in areas like the outer North Bengaluru micro-market, as well as around IT hubs such as Whitefield, where demand for spacious homes is rising. What makes these upscale investments particularly appealing is the combination of strong financial returns and enhanced living conditions. This creates a win-win scenario for investors, offering both monetary and lifestyle benefits.

Affluent, younger buyers driving luxury growth

Young affluent investors are increasingly allocating significant portions of their wealth to residential assets, as evident in the surge in sales of luxury homes which accounted for 25% of all residential units sold in the top seven Indian cities in early 2024. An increasing number of high-net-worth individuals, particularly millennials and non-resident Indians (NRIs), are driving this increased demand as they are keen to invest in India’s developing economy, reinstating real estate as one of the safest and most reliable financial options.

A desire for a world-class community feel

The modern affluent buyer seeks more than just a prestigious address – they desire a living space that enhances their quality of life and provides them with a community feel. The expected rise in demand from new age buyers and India’s growing trajectory promises great potential for this segment. The aspiration for an elevated lifestyle will continue to drive the development of state-of-the-art community spaces that offer something for everyone. In addition, the influence of international standards and culture will further enhance the offerings in luxury developments.

The value of social infrastructure

Community and gated living is good, but what is great is the access to all the essentials around it. People look for easy access to social infrastructure – schools, hospitals, retail and entertainment hubs that are in proximity and engage the residents. This was inadequate early on, but things have changed and virtually every urban space in India now ensures these are within reach of every resident, buyer and investor.

Desire for sustainable living

Sustainability is at the forefront of a luxury real estate customer’s checklist. The growing concerns over environmental impact, have made buyers extremely aware and conscious of their decisions to have homes with amenities and technologies that are comfortable yet sustainable. No wonder, green products both external and internal and sustainable energy have become part of communities that encourage sustainable practices and operations.

The digital and technology push

The evolution of digital infrastructure and tools have tremendously boosted the industry’s ability to reach out and interact with their customers worldwide. Virtual Reality and Artificial Intelligence have enabled developers to provide tailored experiences to their customers, giving them the opportunity to explore and discover multiple opulent real estate projects from the comfort of their home. Interactions between the developer and the customer are highly tailored to suit specific needs and are also more frequent owing to the ability to virtually connect.  Additionally, the ability to make financial transactions without physically being present has empowered customers to make timely decisions.

In conclusion, it can be said that as India continues to showcase a positive outlook, the faith and trust in premium real estate is bound to grow. The importance of owning a home has become key for most, and this has positively influenced the demand for residential real estate. As customers continue to fuel this growth, the focus is on developing unique projects that provide an elevated lifestyle. Going by the upbeat sentiments of the market, one can say with certainty that the luxury real estate market is bound to see great growth as we head into the future.

New Delhi, November 12, 2024 – Omaxe Limited, a leading name in the real estate industry, is set to host its top 500 channel partners in Bali for a five-day grand event, Omaxe Infinity & Beyond. This exclusive celebration, taking place from November 11th to November 15th, marks a first-of-its-kind event in the industry, honoring the exceptional dedication and contributions of Omaxe’s top channel partners.

Selected from Omaxe’s extensive network of 5,000 channel partners, the top performers from Chandigarh, Ludhiana, Bhatinda, Lucknow, Prayagraj, Vrindavan, Ghaziabad, Faridabad, Noida, Delhi, and Indore will enjoy an unforgettable experience that includes networking opportunities, immersive activities, and a spectacular Gala Night in Bali.

Omaxe Infinity & Beyond reflects the brand’s commitment to providing an extraordinary platform for channel partners to connect, network, and explore new growth opportunities. Inspired by the infinity symbol (∞), which represents boundless possibilities, this event highlights the limitless potential that Omaxe and its partners can achieve together.

The grand event will also feature exhilarating performances by renowned Bollywood stars, along with a captivating musical experience by a celebrated artist, adding to the evening’s excitement and making it a memorable celebration for all attendees.

Commenting on the event, Mohit Goel, Managing Director of Omaxe Limited, said, “Our channel partners are the backbone of Omaxe’s success. With Omaxe Infinity & Beyond, we want to celebrate their unwavering commitment and strengthen our relationships as ‘One Omaxe Family.’ This event is an opportunity for our partners to connect, collaborate, and explore future growth avenues. Together, we are setting the stage for a customer-focused and expansive Omaxe.”

This groundbreaking initiative underscores Omaxe’s dedication to nurturing collaborative partnerships, positioning the company as an industry leader in engagement and innovation.