WeWork India raises Rs 200 crore, Real Estate News, ET RealEstate

NEW DELHI: WeWork India has raised Rs 200 crore from investors, through a mix of debt and equity, the company said in a media release. Karan Virwani, CEO, WeWork India, said, “The new capital we have raised will help us in continuing our upwards momentum and truly explore the potential of flexible workspaces in the […]

Mumbai region, Pune lead housing activity, accounts for 53% sales in top eight cities in Q1, Real Estate News, ET RealEstate

Property markets of Mumbai Metropolitan Region (MMR) and Pune are driving the most housing sales among the country’s top seven cities as indicated by the rising contribution of these markets in total sales led by reduction in stamp duty, discounts and appropriate product strategies of developers. MMR and Pune accounted for 53% of total sales […]

Ascendas India Trust to buy 1.65 million sq ft at IT Park in Bengaluru for Rs 1,441 crore, Real Estate News, ET RealEstate

NEW DELHI: Ascendas India Trust (a-iTrust) will acquire 1.65 million sq ft area at an IT park in Bengaluru for an estimated deal value of Rs 1,441 crore, according to a statement. Ascendas Property Fund Trustee Pte Ltd, the Trustee-Manager of a-iTrust, has entered into a forward purchase agreement with Gardencity Realty Pvt Ltd to […]

Bhive enters into fractional office space, Real Estate News, ET RealEstate

Co-working operator BHIVE has ventured into fractional ownership of commercial offices under the BHIVE Investech platform. The new venture, registered in the US, will not only invest in acquiring commercial real estate in the IT capital of India but also explore new geographies. “In the first phase, the plan is to buy out commercial properties […]

JLL, Real Estate News, ET RealEstate

NEW DELHI: JLL believes that India’s current office markets across seven major cities have potential space of 284 million sq ft that could be securitised with an estimated value of Rs 2,62,800 crore. “This estimate was based on buildings that meet two important criteria – single ownership and large floor space with high occupancy rate. […]

Shapoorji Pallonji Real Estate to invest Rs 300 crore to build 440 flats in Bengaluru, Real Estate News, ET RealEstate

NEW DELHI: Shapoorji Pallonji Real Estate will invest Rs 300 crore to construct around 440 luxury apartments in Bengaluru. The company has launched a new phase of its 46-acre luxury residential project Parkwest in Binnypet, Central Bengaluru. The new phase will have around 440 luxury apartments, ranging from 462.10 sq ft to 1,185.07 sq ft. […]

Simpliwork lease out 3.5 lakh sq ft in Hyderabad and Bengaluru to MNCs, Real Estate News, ET RealEstate

Representative Image Managed space operator Simpliwork has leased 350,000 sq ft office space across Bengaluru and Hyderabad to large enterprises as corporates look at flexibility at the workspace. In Hyderabad, it has rented space to semiconductor company MosChip for setting up its headquarters, and another 150,000-200,000 sq ft to one of the largest financial firms. […]

Smartworks leases 2.5 lakh sq ft in Hyderabad’s Aurobindo Galaxy, Real Estate News, ET RealEstate

NEW DELHI: Smartworks, a homegrown co-working startup, has leased 2,50,000 square feet in Hyderabad’s Aurobindo Galaxy, taking its total operational space in the city to 4 lakh square feet, a senior executive of the company said on Tuesday. This, at a time demand for flexible office spaces has risen after pandemic-induced lockdowns. Companies are weighing […]

Embassy, Ivanhoe Cambridge to setup $500 million real estate platform, Real Estate News, ET RealEstate

NEW DELHI: Realty firm Embassy Group on Tuesday announced partnership with Canadian fund Ivanhoe Cambridge to set up a USD 500 million investment platform to develop commercial properties, primarily premium office space. Ivanhoe Cambridge is a subsidiary of the Caisse de depot et placement du Quebec, one of Canada’s leading institutional fund managers. As per […]

Parking policy in Bengaluru may be put on hold, Real Estate News, ET RealEstate

BENGALURU: The yet-to-be-held elections to the Bruhat Bengaluru Mahanagara Palike (BBMP) may pose a challenge to the smooth implementation of Parking Policy 2.0 of Bengaluru, which was recently approved by the state government. Some legislators believe the plan to collect annual permit fee for parking in residential areas might receive backlash from people. This, they […]

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