The Real(ty) Snips: Wednesday Roundup
The Real(ty) Snips: Wednesday Roundup. Your inside track to the latest Delhi NCR real estate landscape from KnowbleR.
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Reliance Infrastructure Enters Real Estate with New Subsidiary
Reliance Infrastructure has launched a new real estate subsidiary, Reliance Jai Properties, with an initial capital of ?1 lakh. This move marks the company's entry into the property development sector. The new entity will focus on real estate activities including buying, selling, and renting of real estate. This strategic expansion diversifies Reliance Infrastructure's portfolio and signals its intent to capitalize on opportunities in India's growing real estate market.
Shop-Cum-Offices (SCOs): The Future of Commercial Real Estate in India
Shop-cum-Office (SCO) spaces are emerging as a significant trend in India's commercial real estate sector. These versatile properties, combining retail and office space, are gaining popularity particularly in tier-2 and tier-3 cities. SCOs offer flexibility for businesses, potential for higher returns for investors, and are reshaping urban commercial landscapes. This trend reflects evolving business needs and changing consumer preferences in India's rapidly developing smaller cities and towns.
Bengaluru and Mumbai Lead in Green Building Leasing, Over 50% Share in Q2 2024
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Bengaluru and Mumbai dominated the leasing of green-certified buildings in Q2 2024, accounting for over 50% of the total share. This trend reflects growing corporate preference for sustainable office spaces. The surge in green building leases underscores increasing environmental awareness in India's commercial real estate sector, with these two cities emerging as frontrunners in adopting eco-friendly workplace solutions.
First Instalment for Rural Housing Under PMAY
The Indian government has released the first rural instalment of Rs 3,930 crore under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) for FY24. This funding will benefit 11.6 lakh families across various states, with Madhya Pradesh receiving the largest share. The scheme aims to provide housing for all in rural areas, supporting the government's goal of achieving 'Housing for All'. This release marks a significant step in addressing rural housing needs across India.
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