Embracing Spacious Living – The Evolving Trends in the Indian Real Estate Market

In the dynamic landscape of the Real estate market, a fascinating transformation is underway, driven by the evolving preferences of homebuyers. Despite the steady rise in property prices, there’s a growing inclination towards spacious dwellings, as revealed by the latest survey conducted by Ficci-Anarock. Let’s delve into the insights provided by this survey and explore the changing dynamics of the Real estate sector.

The survey findings paint a clear picture – homebuyers are prioritizing space and functionality, favoring 3BHK apartments and properties with balconies over their smaller counterparts. This preference shift signifies a departure from conventional norms, where 2BHK homes once reigned supreme. Now, the allure of extra space for accommodating family needs, setting up home offices, or simply enjoying indoor-outdoor living experiences has become increasingly appealing.

Let’s Delve into the underlying factors driving this trend. The surge in demand for larger homes to developers’ proactive response to meet the evolving needs of buyers. With an annual growth rate of 11% in average flat sizes across the top cities like Bengaluru, Chennai, Hyderabad and Mumbai including Delhi-NCR developers are keen on offering spacious and well-designed residences that cater to the modern lifestyle.

Many new projects are now being designed with balconies, terraces, and gardens to provide residents with access to fresh air and outdoor spaces. Another trend that has emerged in the Indian real estate market is the focus on sustainable and eco-friendly living. Developers are now incorporating energy-efficient features such as solar panels, rainwater harvesting, and waste management systems into their projects. This not only benefits the environment but also helps residents save on their utility bills.

Smart homes are also gaining popularity in India, with many new projects offering smart features such as voice-activated assistants, automated lighting, and climate control systems. These features not only enhance the convenience and comfort of living but also improve energy efficiency and security. Overall, the Indian real estate market is witnessing a shift towards more spacious, sustainable, and technologically advanced living spaces. As consumers become more discerning and demanding, developers must continue to innovate and adapt to stay ahead of the curve.

However, amidst this shift towards spacious and Sustainable living, there’s a notable concern regarding the diminishing availability of affordable housing options. The survey highlights a significant reduction in the construction and sale of homes priced below ₹40-45 lakh, posing challenges for budget-conscious buyers. Nonetheless, there’s a silver lining – a growing interest in premium homes priced between ₹90 lahks to ₹1.5 crores, signaling a shift towards quality and reliability.

Evolution in Real Estate: Navigating Trends, Seizing Opportunities

As the Real estate landscape continues to evolve, opportunities abound for both buyers and developers. The market dynamics reflect a broader trend toward prioritizing comfort, functionality, and quality over mere affordability. Real estate trends mirror the changing aspirations and lifestyles of its residents.

For those seeking the best deals in Delhi-NCR, Urban Plus emerges as a promising option. With a diverse portfolio of properties and unbeatable offers, Urban Plus stands ready to cater to the needs of discerning homebuyers. Whether you’re looking for spacious residences or premium living spaces, Urban Plus provides a one-stop solution to find your dream home within your budget.

In conclusion, the real estate market is witnessing a paradigm shift towards spacious living, driven by the changing preferences of homebuyers. While challenges persist, the evolving trends present exciting opportunities for both buyers and developers to redefine the city’s housing landscape. As we embrace this new era of spacious living, India’s Real Estate Market continues to shine as a beacon of innovation and growth in the Indian real estate sector.

Source: Livemint

M3M’s Exclusive Offer Opens the Door to Luxury Living!

The journey to homeownership can often be filled with uncertainties and compromises, but M3M is here to change the game. With a legacy of delivering excellence in real estate, M3M has curated an offer that goes beyond the conventional norms of home buying.

The phrase “apna ghar, apna hota hai” encapsulates the pride and sense of accomplishment that comes with homeownership. For many Indians, owning a home is a lifelong dream and a testament to hard work, perseverance, and success. It signifies a milestone achieved, a goal realized, and a source of immense pride for oneself and one’s family. The emotional attachment to one’s home transcends its physical attributes, encompassing the memories, traditions, and experiences that make it truly unique.

In the realm of investments, a home represents not only a place of shelter but also a tangible asset with the potential for long-term growth and financial security. the concept of “apna ghar” takes on new meaning as the investor’s home becomes a symbol of prudent financial decision-making, wealth accumulation, and future prosperity. Through strategic investment in real estate, investors not only secure a place of shelter but also lay the groundwork for long-term financial stability and legacy planning.

As the real estate market evolves, so do the chances of finding that perfect abode, and M3M’s latest offer is set to redefine the way you experience home buying.

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M3M, a renowned name in the real estate industry, presents a collection of exquisite residential marvels that set new benchmarks in luxurious living. Let’s delve into the world of M3M’s stunning residential projects and discover the epitome of elegance, comfort, and sophistication.

M3M Golf Hills, Sector 79, Gurugram:

Step into the realm of luxury with M3M Golf Hills, a prestigious residential development located in Sector 79, Gurugram. This masterpiece offers an unparalleled royal lifestyle amidst expansive and opulent surroundings. Boasting 18 high-rise towers, M3M Golf Hills features modern amenities and meticulously designed spaces, including a captivating lake, central greens surrounded by a 1.5-kilometer pathway, and lush green landscapes spanning 5.5 acres.

Project Highlights:

Golf Themed Living for a unique experience.
Spectacular views of the Aravallis from spacious balconies.
Multiple clubhouses and 101 amenities to cater to every lifestyle need.
Italian marble flooring, VRV air conditioning, and fully fitted kitchens for luxurious living.
Convenient location with proximity to the IGI Airport and Metro, offering seamless connectivity.
Range of Spacious 2.5BHK, 3.5BHK, and 4.5BHK Luxury Apartments for comfortable living.

M3M Antalya Hills, Sector 79, Gurugram:

Experience a world of luxury living at M3M Antalya Hills, nestled in the serene surroundings of Sector 79, Gurugram. This premium residential project offers spacious 2.5BHK & 3.5BHK luxury floors designed with meticulous attention to detail. Enjoy breathtaking views, world-class amenities including a fully equipped gym, swimming pool, and tennis court, along with round-the-clock security and power backup.

Project Highlights:

Stunning hill-side location with picturesque views.
Range of spacious 2.5BHK & 3.5BHK luxury floors for comfortable living.
Fully equipped gym, swimming pool, and tennis court for recreation.
Ideal investment opportunity in the thriving city of Gurgaon.

M3M Crown, Sector 111, Gurugram:

Setting a new benchmark in residential lifestyle, M3M Crown is an unparalleled luxury residential development located in Sector 111, Gurugram. With 14 high-rise towers adorned with modern amenities, this project offers a regal way of living. Enjoy lush greens, a magnificent pool area, and thoughtfully designed spaces for an exclusive living experience.

Project Highlights:

Low density, high-rise condominiums for spacious and exclusive living.
Italian marble flooring, VRV air conditioning, and fully fitted kitchens for elegant living.
Convenient location with proximity to the IGI Airport and Metro, ensuring easy connectivity.
3/4 BHK Luxury Apartments for comfortable living

M3M Golfestate at SCDA, Sector 113, Gurugram:

Indulge in inspired living at M3M Golfestate at SCDA, where luxury meets innovation. Nestled in the heart of the Smart City Delhi Airport, Here, 3.5 & 4.5BHK luxury apartments, life is more than just living; it’s an inspired masterpiece where indulgence meets innovation.

Step into elite residences boasting captivating interiors and expansive deck spaces, designed to elevate your everyday experience. But the extravagance doesn’t end there. The Magnum Opus Club awaits, promising a lifestyle of grandeur and sophistication. From extravagant celebrations to intimate gatherings, every moment is crafted to perfection.

Don’t miss the chance to experience unmatched luxury living with M3M’s exclusive residential projects. With flexible payment plans, masterstroke propositions, and incredible gifts, seize this opportunity before it’s too late.

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Residential Real Estate Trends in 2024: A Dual Outlook on Homeownership and Investment Strategies

Over the past two decades, the Indian real estate sector has endured various economic challenges, including the Global Financial Crisis of 2008 and the recent COVID-19 pandemic.

Despite these hurdles, the industry has consistently demonstrated resilience and growth.

According to a report by Naredco-Knight Frank, the Indian real estate market is poised to expand significantly, with projections indicating a substantial increase to $5.8 trillion by 2047 from $477 billion in the previous year. This growth is expected to contribute over 15 percent to the nation’s total economic output.

In the current year, the residential real estate sector is anticipated to maintain its upward trajectory, buoyed by factors such as escalating land prices motivating potential homeowners to invest, the evolving perception of houses as a crisis-resilient asset, and the emergence of niche segments like student and senior living. These trends, which have been gaining momentum over the past few years, are projected to evolve into micro segments that will contribute to the overall expansion of the sector. This evolution is being driven by the country’s transition from a lower-income to a middle-income economy, resulting in changing preferences among consumers who seek a better lifestyle catering to their evolving needs in work, education, and leisure.

Consequently, premiumization is poised to emerge as a significant trend, with an increasing number of homebuyers opting for luxury properties to elevate their living standards and capitalize on high-return investment opportunities.

Affordability has been a persistent concern for many prospective homebuyers. However, in 2024, the affordability landscape is expected to undergo positive developments, particularly with regard to financing options. Historically low interest rates, which have prevailed for several years, have reignited interest in the residential segment. Home loan rates have decreased significantly, making property investment more financially feasible. Government initiatives such as the Pradhan Mantri Aawas Yojna and staggered payment schemes offered by developers are further enhancing affordability for homebuyers.

Looking ahead, premiumization is poised to dominate the residential real estate market in 2024, with mid-premium, luxury, and ultra-luxury properties defining the sector’s landscape. This trend, coupled with rising land prices, is making property investment increasingly viable and attracting hesitant investors to the sector.

The growing emphasis on smart technologies and sustainability is also shaping the residential real estate market. Homebuyers are increasingly seeking enhanced comfort through technological advancements and sustainable living solutions. Developers are responding to this demand by incorporating features such as app-enabled support services, sustainable amenities, and smart home systems into their projects. These premium offerings cater to evolving consumer preferences and contribute to the overall elevation of the industry’s standards.

Location dynamics play a significant role in the residential real estate market in 2024. Emerging areas such as satellite townships and dedicated economic zones are expanding across major metros, offering unique opportunities for homeowners and investors. These regions, characterized by planned development and improved connectivity, are becoming increasingly attractive for property investment. Homebuyers are advised to consider properties located along metros and expressways in city outskirts to access premium properties at affordable prices.

As for the outlook on price momentum in 2024, both homeownership and rental trends are expected to coexist within the industry. While some homebuyers are purchasing properties for self-stay, others, particularly affluent individuals, are investing in second homes to generate rental income. The anticipated rise in interest rates may prompt prospective homebuyers to expedite their primary house purchases, while second home owners may seize the opportunity to maximize their returns on investment.

Connect with us at Urban Plus for best deals in Gurugram Real Estate.

Dwarka Expressway in Gurgaon experiences significant Real Estate appreciation

The Dwarka Expressway real estate market has seen a large increase in property values, indicating a good trend in the overall real estate landscape. The significant increase in property values across numerous areas along the Dwarka Expressway, shows vital insights into the changing environment of Gurgaon real estate.

In Q4 2023, the total average property price on Dwarka Expressway varied between Rs 11,300 and Rs 11,700 per sqft, representing a significant rise over the average prices of Rs 9,600 to Rs 10,000 per sqft reported in Q4 2022. Average prices in Q3 2023 ranged from Rs 10,500 to Rs 10,800 per square foot, representing a 6.5% quarter-on-quarter increase and a respectable 14.3% year-on-year gain.

The substantial development recorded in the Dwarka Expressway’s real estate market indicates the region’s resiliency and desirability. The year-on-year increase in property prices reflects the region’s ongoing desire for high-quality residences. This research is an excellent resource for investors, homebuyers, and developers interested in the Dwarka Expressway’s growing patterns.

Sector 102, Gurgaon: Located on the Dwarka Expressway, Sector 102 has had a spectacular 34.5% year-on-year rise, with typical property values ranging from Rs 10,500 to Rs 10,700 per square foot in Q4 2023. The quarterly increase rate was 6%, compared to prices ranging from Rs 9,900 to Rs 10,100 per square foot in Q3 2023 and Rs 7,400 to Rs 7,600 per square foot in Q4 2022.

Sector-37D, Gurgaon: Sector-37D, which offers residential units in the mid-income budget category, had a 36.8% year-on-year gain, with property values average between Rs 12,000 and Rs 13,000 per square foot in Q4 2023. The quarterly growth rate was 1.4%, compared to prices ranging from Rs 11,800 to Rs 11,950 per square foot in Q3 2023 and Rs 7,500 to Rs 8,000 per square foot in Q4 2022.

Area 36A, Gurgaon: In Q4 2023, average property prices in this luxury area near the Dwarka Expressway increased significantly, ranging from Rs 13,900 to Rs 14,100 per square foot, representing a 31.2% year-on-year surge. The quarter-on-quarter growth rate for the same time was 24.5%. In Q4 2022, average costs were between Rs 10,150 and Rs 10,350 per square foot, while in Q3 2023, they were between Rs 10,850 and Rs 11,050 per square foot.

Sector 104, Gurgaon: Sector 104, located on the Dwarka Expressway and featuring a mix of ready-to-move and under-construction housing units, saw an increase in average property prices in Q4 2023, ranging from Rs 10,100 to Rs 11,500 per sqft, representing a 19.7% year-on-year gain. The same era saw a 1.5% quarterly growth rate. In Q4 2022, the average price was from Rs 8,100 to Rs 8,500 per square foot, whereas in Q3 2023, it was between Rs 9,700 and Rs 9,900 per square foot.

Sector 99, Gurgaon: Dominated by land plots and ready-to-move flats, Sector 99 performed well in Q4 2023, with average prices ranging from Rs 10,500 to Rs 11,000 per sqft, representing a 31.7% year-on-year increase. The same era saw a 5.5% quarterly growth rate. In Q4 2022, the average price was from Rs 7,100 to Rs 7,525 per sqft, while in Q3 2023, it was between Rs 9,900 and Rs 10,100 per sqft.

Area 108, Gurgaon: A mid-income area in New Gurgaon that predominantly offers residential units, Sector 108 had an increase in average property prices in Q4 2023, ranging from Rs 12,800 to Rs 12,925 per sqft, representing an 18% year-on-year gain. The quarter-on-quarter growth rate for the same time was 7.2%. In Q4 2022, the average price was from Rs 10,500 to Rs 11,075 per sqft, whereas in Q3 2023, it was between Rs 11,900 and Rs 12,200 per sqft.

Sector 106, Gurgaon: Strategically placed along the Dwarka Expressway, Sector 106 saw significant year-on-year growth of 12.5% in Q4 2023, despite a modest decline in QoQ by 0.8%. The average property prices in this sector varied from Rs 11,900 to Rs 12,575 per square foot, with Q4 2022 prices ranging from Rs 10,400 to Rs 11,000 per sqft and Q3 2023 prices ranging from Rs 12,000 to Rs 12,125 per sqft.

Sector 113, Gurgaon: Sector 113, a posh area in Gurgaon, saw an 11% year-on-year increase in Q4 2023, with typical property values ranging from Rs 12,900 to Rs 13,100 per square foot. The same era saw a 5.5% quarterly growth rate. In Q4 2022, the average price varied from Rs 11,500 to Rs 11,750 per sqft, whereas in Q3 2023, it was between Rs 12,200 and Rs 12,400 per sqft.

Sector 84, Gurgaon: Sector 84’s property market had a significant year-on-year increase of 27% in Q4 2023, with average prices ranging from Rs 10,000 to Rs 11,000 per sqft. The same era saw a 5% quarterly growth rate. In Q4 2022, the average price was from Rs 7,300 to Rs 7,700 per sqft, whereas in Q3 2023, it was between Rs 9,500 and Rs 9,710 per sqft.

Sector 99A, Gurgaon: Sector 99A, which offers residential flats and plots in the mid-income budget category, performed well in Q4 2023, with average property prices ranging from Rs 9,800 to Rs 10,000 per sqft, representing a 23% year-on-year gain. The same era saw a 7% quarterly growth rate. In Q4 2022, the average price was from Rs 7,500 to Rs 7,700 per sqft, whereas in Q3 2023, it was between Rs 9,100 and Rs 9,375 per sqft.

Sector 109, Gurgaon: One of the top sectors on the Dwarka Expressway, Sector-109 had a phenomenal year-on-year gain of 28.5% in Q4 2023, with average property values ranging from Rs 12,200 to Rs 12,400 per square foot. The same era saw a 39% quarterly growth rate. In Q4 2022, the average price varied from Rs 8,700 to Rs 8,900 per square foot, while in Q3 2023, it was between Rs 8,200 and Rs 8,400 per square foot.

This data shows a constant and sustained increase trajectory in property values along the Dwarka Expressway, making it a desirable destination for potential buyers, investors, and developers.

Contact Urban Plus for the best deals in Gurgaon Real Estate.

Budget 2024: Real Estate Primed for ‘Housing for All’

The forthcoming Budget 2024 is expected to promote ‘Housing for All’, tax relief measures, and sustainability initiatives to help India’s real estate sector flourish.

The Indian real estate market is primed for a bright future, fuelled by urbanization, good governmental reforms, improving consumer sentiment, and a rise in disposable income.

In 2023, the real estate sector in India saw extraordinary expansion, breaking previous records and demonstrating great improvement.

Policy improvements, a positive consumer attitude, rising disposable incomes, and an increased desire for bigger houses have all contributed to this development.

As the nation’s urban population grows, so will the need for residential and commercial space.

The optimistic home-buying mentality that emerged in 2023 is projected to carry over into 2024.

With urbanization as the key engine, demand for real estate is expected to continue strong.

Property prices are likely to increase significantly, but at various rates across cities and regions.

Metropolitan locations are expected to have bigger price rises than smaller cities, reflecting the dynamic character of the real estate industry.

Budget Predictions for Real Estate

The previous Union Budget was promising in terms of increased emphasis on long-term investments, with a significant increase in capital expenditure and a dedicated focus on accelerating technological advancements across a variety of sectors, including 5G labs, agricultural tech, AI, infrastructure, and real estate.

In the next Budget 2024, we predict that the Prime Minister’s aim of ‘Housing for All’ would be prioritized in order to maintain supply-side stimulation and promote end-user demand.

The government is anticipated to implement a tax relief package to make houses more accessible, hence increasing demand.

We expect the government would enhance the maximum deduction limit for home loan interest rates from ₹2 lakh to ₹5 lakh.

A stable and predictable fiscal environment is critical at this time to build on existing consumer confidence in the real estate sector, so we anticipate that the Interim Budget for 2024 maintains the current tax regime to prevent short-term turbulence in the overall housing market.

Recognizing the significance of sustainability, the budget is expected to maintain its emphasis on energy transition in infrastructure development, urban planning, affordable housing, domestic manufacturing, and ease of doing business.

Allocating funds from the Urban Infrastructure Development Fund (UIDF) is essential for assisting governmental agencies in building urban infrastructure in tier 2 and tier 3 cities.

This innovative approach is intended to accelerate the development of real estate in these undeveloped markets.

As the real estate sector anticipates the Budget 2024, hopes are high for a sustained emphasis on ‘Housing for All,’ tax breaks, and environmental programs.

This industry is confident about its prospects for long-term growth, which has been strengthened by urbanization trends and constructive governmental reforms.

The forthcoming budget is expected to have a significant impact on the future of India’s real estate market.

Connect with us at Urban Plus for the best deals in Gurugram Real Estate.

Source : Live Mint

Unlocking opportunities : The booming Real Estate Market in Gurugram.

Gurugram is becoming a popular place for people to buy houses because it’s well-connected to other important cities in the NCR region. The demand for houses here is so high that property prices are going up by 4-5 percent every three months.

In the last ten years, Gurugram’s real estate has been growing a lot, thanks to better connections through metros, highways, and expressways. Places like Dwarka Expressway, SPR Road, cyber hubs, MG Road, DLF Phase 3 & 4, sectors 37-D, 71, 76, 77, and Sector 84 have seen a lot of development.

The Delhi-Mumbai Expressway and the Global City project by the Haryana government are making Gurugram a hotspot for properties. People want homes in areas like New Gurugram because of this.

Gurugram’s real estate market is seeing more demand for mid-income and luxury homes. Places like New Gurugram, sectors 37-D, Sector 71, Sector 84, Dwarka Expressway, and the Southern Peripheral Road are getting more popular, with property values increasing a lot. Projects like the metro expansion, the upcoming Global City, and RRTS are helping Gurugram’s real estate.

Dwarka Expressway is becoming a top choice for both living and investing. It’s a 27 km long, 8-lane expressway that connects Dwarka in Delhi to Manesar in Haryana. It’s expected to be free from traffic jams, making travel faster. Its connection to the international airport and being close to business and IT hubs make it even more appealing.

The Haryana government is thinking of raising the rates for certain areas, like Golf Course Road, MG Road, and along the Dwarka Expressway. There are also proposals to increase rates for agricultural and commercial land in Badshapur and residential and commercial land rates in Wazirabad tehsil.

With a lot of demand, good infrastructure, and government interest, Gurugram looks like a great place for real estate. Southern Peripheral Road and Dwarka Expressway are seen as good places to invest because of easy connectivity and development, offering good opportunities for investors.

Connect with us at Urban Plus for the best deals in Gurugram Real Estate.

Sales of homes increased 13% in Gurugram in 2023 but decreased 7-8% in Noida and Greater Noida.

Residential property sales in Gurugram increased 13% to 36,970 units in 2023, up from 32,615 units the previous year.

NEW DELHI: Housing sales in Gurugram increased by 13% year on year in 2023 due to high demand, particularly for luxury flats, while sales in Noida and Greater Noida fell by 7-8%. Sales of residential properties in Gurugram increased by 13% year on year to 36,970 units in 2023, up from 32,615 units the previous year.

However, sales in Noida declined 8% to 5,840 units, down from 6,360 units. Greater Noida had a 7% dip in sales, falling to 10,180 units from 10,985 units. Ghaziabad, too, had an 8% decrease to 6,340 units from 6,890 units.

The overall number of housing sales in Faridabad, Delhi, and Bhiwadi fell to 6,295 units in 2023, down from 6,860 units the previous year.

Overall, the Delhi-NCR had a 3% increase in house sales to 65,625 units in 2023, up from 63,710 units the previous year.

In other parts of the National Capital Region (NCR), sales have decreased due to a decrease in the number of new home projects being launched. Realty firms Signature Global, TARC Ltd, and Elan Group attributed the increase in sales in Gurugram to the positive consumer sentiment and the progress of several infrastructure projects.

The Gurgaon real estate market is experiencing a surge in demand for mid-income and luxury homes, driven by young professionals and nuclear families looking for an aspirational and convenient lifestyle

Hotspot zones such as New Gurugram, Dwarka Expressway, and the Southern Peripheral Road are attracting a large number of buyers, generating double-digit capital value increases.

The real estate landscape in Delhi NCR, particularly Gurugram, is experiencing a renaissance, defying market challenges and demonstrating robust demand.

Gurugram was the most popular destination in the NCR, supported by expanding infrastructure. The city’s Dwarka Expressway was the most promising micro-market for the residential sector.

Source : Economic Times

Godrej Properties’ Record-Breaking Success in Gurugram

In a recent exchange filing, Mumbai-based real estate developer Godrej Properties announced its monumental success with the launch of Godrej Aristocrat in Gurugram, Sector 49. This development has proven to be the company’s most triumphant launch to date, surpassing its previous best, set when it sold homes worth over 2,000 crore rupees at its Noida project, Godrej Tropical Isle, in the previous quarter.

Unprecedented Sales and Milestones

Godrej Aristocrat, located near Golf Course Extension Road, has witnessed extraordinary success, with inventory sales exceeding Rs. 2,600 crore. The project has achieved remarkable milestones by selling over 600 units, making it a standout accomplishment for Godrej Properties. The CEO, Gaurav Pandey, emphasized the significance of Gurugram as a key market for the company, expressing their commitment to creating exceptional residential communities that deliver long-term value to residents.

Future Endeavors in Gurugram

Godrej Properties has ambitious plans for Gurugram in the coming years. Gaurav Pandey revealed that the company aims to commence four additional projects in Gurugram in 2024, highlighting their dedication to further contributing to the real estate landscape in the region.

Let’s find out more about the Godrej Properties with Urban plus

Godrej Aristocrat: A Luxurious Oasis

Godrej Aristocrat, situated in Sector 49, is described as an ultra-luxurious development, continuing Godrej Properties’ legacy of excellence. The project promises an expansive world of opulence, sophistication, and tranquility. With breathtaking views and meticulous craftsmanship, it aims to be a testament to grand living where every moment is a celebration.

Key Features of Godrej Aristocrat

● Location Excellence: Nestled close to Golf Course Extension Road, Sector 49 offers a seamless blend of luxurious infrastructure, lush surroundings, and well-planned facilities.

● Connectivity: The location ensures speedy connectivity to essential hubs, including HUDA City Gurugram Centre Metro Railway Station and IGI Airport. It is also surrounded by renowned schools, hospitals, and malls.

● Manicured Forest: Residents can indulge in the serenity of a manicured forest, providing a bespoke escape into nature’s embrace.

● Grand Arrival Experience: The development promises a grand arrival experience, where sophistication and grandeur intertwine to set the stage for an exceptional way of life.

● Forest-Themed Landscaping: Godrej Aristocrat features lush greenery and tranquility with forest-themed landscaping, offering a serene ambiance reminiscent of the woods.

● Grand Clubhouse Amidst the Forest: The Grand Clubhouse is nestled within a carefully curated forest, providing a retreat of unmatchable grace and serenity.

● Spacious and Luxurious Homes: Meticulously designed homes feature top-tier ceiling heights, generously wide balconies, and an overall sense of grandeur that complements a luxurious lifestyle.

● Extraordinary Lifestyle: Godrej Aristocrat invites residents to embrace a life of opulence, elegance, and grandeur—a world where luxury is not just a choice but a defining essence of living.

With Godrej Aristocrat, Godrej Properties aims to redefine luxury living in Gurugram, setting new standards in residential development and delivering a lifestyle that is truly extraordinary.

Source : The Hindu Business line

India’s Mall story grows even more intriguing, expected to see investment of around Rs 20k cr in 3-4 years

The largest mall developers in the nation, DLF, Prestige, and Phoenix, have begun the next stage of their expansion, and over the next three to four years, malls are anticipated to draw in investment totaling more than ‘20,000 crores, as nearly all of the leading retailers are increasing the number of stores they own.

New Delhi: The need for retail real estate is booming. Industry officials stated that more than 5 million square feet (msf) of grade A malls opened for business in 2023, marking the largest number in seven years and that an additional roughly 8 msf is planned for completion in 2024.

Malls are likely to draw more than Rs 20,000 crore in investment over the next 3-4 years as the country’s largest mall developers, DLF, Prestige, and Phoenix, start the next phase of expansion as practically all top retailers boost their store count.

The retail real estate sector has gained traction, owing largely to the Indian economy’s strong consumption-led growth,” said Saurabh Shatdal, managing director, capital markets, and head retail, India, at Cushman & Wakefield.

Listed retail firms such as Reliance Retail, PVR, Aditya Birla Fashion, and Tata Trent boosted their store count dramatically this calendar year as sales grew.

Landlords of quality retail assets in good financial condition have a great opportunity to capitalize on this bullish undertone by expanding into several untapped markets, either on the outskirts of tier-I or in tier-II and tier-III cities,” Shatdal added.

Almost all retailers have announced future shop opening plans, including expansion into tier-2 markets.

Physical shopping has increased since the lockout was lifted, and despite a slight dip in recent months, mall managers are optimistic about demand,” said Shriram PM Monga, co-founder of retail consultancy firm SRED. “A lot of new supply is coming in smaller cities as retailers are also expanding to these cities,” he went on to say.

Private equity investments are driving the retail sector expansion. Private equity was involved in about 60% of malls that opened in 2023.

Most malls that opened in 2023 had healthy pre-commitments and were rapidly full. They include the Palladium in Ahmedabad, the Pacific Premium in Delhi NCR, the Lulu Manjeera in Hyderabad, the Mall of Millennium in Pune, and the Mall of Asia in Bengaluru, all of which have occupancy rates of more than 90%. According to Icra, total grade A retail mall supply for the top six markets is likely to expand to 116-118 msf by March 2025, up from 105 msf presently.

Ambience Mall’s unparalleled achievement is verification of its devotion to giving a first-rate diversion and shopping experience, rehashing retail greatness in every single square foot. Planning to change the shopping climate with development and complexity, Elan Group’s upcoming project, a best-in-class Mall in New Gurugram, is supposed to enhance the city’s way of life. Anticipation is growing for this destination.

.As indicated by the report, Delhi-NCR has the best stockpile commitment of 30%, trailed by Bengaluru at 20%, Mumbai Metropolitan Locale (MMR) at 17%, Pune at 14%, Hyderabad at 13%, and Chennai at 6%.

Icra predicts that good occupancy levels, anticipated growth in trading values, and rental escalation will support mall owners’ rental income growth of 9-10% year-over-year in FY24 and 8-9% year-over-year in FY25. It noticed that fragments, for example, gems, hardware, style, premium brand magnificence care merchandise, and amusement have displayed better than expected utilization development in ongoing quarters, which is projected to go on in the close to medium term because of solid buyer interest.

As per Anarock Retail, the Indian retail industry is anticipated to reach $2 trillion by 2032, up from $690 billion of every 2021, permitting the coordinated retail area to create at a 25% accumulated yearly rate.

Source : Economic Times

Year-End 2023: The Top 10 Exotic Home Purchases in India for 2023

India real estate: In 2023, a number of affluent individuals purchased and sold opulent residences in Mumbai, Delhi-NCR, and Bengaluru, with prices ranging from around Rs 20 crore to over Rs 1,200 crore.

Year-end special 2023: In February 2023, family members and associates of D’Mart founder Radhakrishna Damani purchased up to 28 home units in Mumbai’s Worli district for a total of Rs 1,238 crore, in what is arguably the biggest real estate transaction in the nation this year.

Luxury was the order of the day in the residential market in 2023. High-net-worth people (HNIs) and their families bought opulent residences in Bengaluru, Delhi-NCR, and Mumbai, among other three important cities.

Urbanplus presents to you the top 10 luxury house deals that HNIs made in 2023 as the year comes to an end.

Mumbai real estate market

1) Radhakrishna Damani and family

In February 2023, family members and associates of D’Mart founder Radhakrishna Damani purchased up to 28 house units worth a total of Rs 1,238 crore in what is arguably the most talked-about real estate deal in the nation. The Worli district of Mumbai was the location of the transaction. One of the largest retailers in India, his partners, and their businesses have purchased 1,82,084 square feet of carpet, including 101 parking spaces.

The purchasers bought the flats in Tower B of Oberoi Realty’s Three Sixty West, which is now under construction. The majority of these flats average between Rs 40-50 crore and have a carpet space of 5,000 square feet. The agreement was almost immediately preceded by a clause in the Budget 2023 recommendations that was predicted to affect the selling of ultra-luxury real estate starting on April 1. Reinvesting capital gains from the sale of long-term assets, like as real estate, is subject to a maximum of Rs 10 crore. There was never such a cap in place before.

2) Taparia family

Two developments in the Mumbai real estate market, Oberoi Three Sixty West and Lodha Malabar, generated a lot of discussion and were the subject of reports of high-end luxury apartment sales. One of the transactions involved the acquisition of six seafront homes in Mumbai from Macrotech Developers Ltd. by family members of industrialist J P Taparia, the creator of the contraceptive company Famy Care, for around Rs 369 crore.

The agreement was signed in March 2023, and the units have 20 parking spaces. The residential units have a total space of 27,160.6 sq ft. According to the paperwork, the units are on the 26th, 27th, and 28th levels. The purchase price was Rs 369.55 crore. The units were subject to a stamp fee of Rs 19.07 crore.

3) Niraj Bajaj of Bajaj Auto

The purchase of a sea-facing triplex flat from Macrotech Developers in upscale Malabar Hill in Mumbai by Bajaj Auto Chairman Niraj Bajaj for Rs 252.5 crore in March 2023 was one of the most talked-about residential purchases in Mumbai. Lodha Malabar Palaces by the Sea is a 31-story building.

According to papers, the three apartments have a total size of 18,008 square feet (carpet area 12,624 square feet) and eight parking spaces. The transaction cost Rs 15.15 crore in stamp duty.

4) Welspun Group

Welspun Group chairman BK Goenka paid Rs 230 crore for a penthouse in Worli’s Tower B of Three Sixty West. The penthouse, located on the 63rd floor, has a carpet area of 29,885 square feet and a deck of 4,815 square feet. The transaction was completed in February 2023, with the buyer paying a stamp duty of Rs 13.83 crore. It included 14 parking spots.

Delhi-NCR

5) Rohatgi Family

Vasudha Rohatgi, the wife of former Attorney General of India Mukul Rohatgi, paid Rs 160 crore in February 2023 for a 2,160-square-yard bungalow in Delhi’s upscale Golf Links neighbourhood.

The bungalow’s plot size is 1806.35 square meters, while the building’s total covered area is 1869.7 square meters. The family paid Rs 6.4 crore in stamp duty for the acquisition, and the property was fully registered in February 2023.

Golf Links is located in the Lutyens’ zone, the nation’s center of power, where influential bureaucrats and businesspeople mingle with prominent politicians. Being a designated heritage zone, the neighborhood has one of the most expensive real estate markets in the nation, with strict regulations on construction.

6) Bhanu Chopra

The founder of RateGain, businessman Bhanu Chopra, paid Rs 127.5 crore in February 2023 for a home at Delhi Golf Links. His admittance into the exclusive group of corporates, businessmen, and bureaucrats with opulent homes in upscale neighborhoods of the nation’s capital was signaled by the multi-crore deal.

According to the deal’s registry paperwork, which Zapkey.com was able to get, the property was registered on February 24 in Bhanu and Megha Chopra’s names. For the deal, the couple paid stamp duty of Rs 6.79 crore.

High net worth individuals continue to favor Lutyens’ Delhi’s Golf Links because of its limited availability and consistent costs.

7) Rs 100 crore flat in Gurugram

A luxurious condominium at The Camellias by DLF on Golf Course Road was sold for about Rs 114 crore in 2023 in a resale that was first for Gurugram. The opulent apartment was 11,000 square feet. The sale was being contrasted with transactions in the upscale neighborhoods of New Delhi, which are home to some of the most expensive residences in the nation.

The agreement reduced the price differential between the relatively new Gurugram market and the more established, older micro-markets in the National Capital Region that are renowned for their good positions. The price was comparable to some high-end seaside residences in Mumbai as well as bungalows in the upscale neighborhoods of the nation’s capital.

Bengaluru real estate

Deals on luxury homes continued to rise in the first half of 2023, despite global headwinds and IT layoffs that hurt Bengaluru’s real estate industry.

8) Micro Labs

Dilip Surana, the chairman and managing director of the pharmaceutical company Micro Labs Ltd., paid Rs 66 crore for a mansion in Bengaluru in 2023, one of the largest sales for luxury real estate in the city.

According to the sale deed, the land and bungalow, which together comprise 8,373.99 square feet, are situated in the Fair Field layout along Devaraj Urs Road, formerly known as Racecourse Road. The land is spread across a total area of 12,043 square feet. On March 8, 2023, a stamp duty of Rs 3.36 crore was paid for the deal registration.

9) TVS Motors

In January 2023, TVS Motors paid Rs 20.93 crore for a home in the Koramangala neighborhood of Bengaluru. The house is spread across a 5,000 square foot lot and has two storeys, four bedrooms, a basement, and a covered garage.

10) NRJN Family Trust

A property in Bengaluru’s Billionaire Street Koramangala neighborhood was sold by the NRJN Family Trust, which was established by Infosys chairman and co-founder Nandan M. Nilekani, for Rs 54.70 crore in January 2023.

The 9,488 square foot site was sold to V Seetha, the businessman C Valliappa’s wife and the man who founded the Sona Valliappa Group, which is a branch of The Sona Group. Sreepriya Nellicherry Sivaraman represented NRJN.

(Contributions from Ashish Mishra in Delhi-NCR, Souptik Datta in Bengaluru, and Mehul R. Thakkar in Mumbai)

Source : Moneycontrol