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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Mindspace REIT Reports 9.2% Rise in Q1 Operating Income
Mindspace Business Parks REIT has reported a 9.2% year-on-year increase in net operating income for Q1 FY25, reaching ?441.8 crore. The company's revenue from operations also grew by 10% to ?526.3 crore. This strong performance is attributed to robust leasing activity and high occupancy rates across its commercial real estate portfolio. The results reflect the continued demand for quality office spaces in India's major cities, despite evolving work trends.
DTCP Issues New Guidelines for Stilt Plus 4-Floor Constructions in Haryana
The Department of Town and Country Planning (DTCP) in Haryana has released new regulations for constructing stilt plus four-floor buildings. These guidelines cover aspects like plot size requirements, parking provisions, and safety measures. The move aims to standardize construction practices and address urban density challenges in cities like Gurugram. These rules are expected to impact residential development patterns and property values in Haryana's urban areas.
Industrial, Warehousing Demand Surges 17% in H1 2023: Colliers Report
Demand for industrial and warehousing spaces in India grew by 17% year-on-year in the first half of 2023, reaching 15.8 million square feet, according to a Colliers report. Delhi-NCR led with the highest share at 28%, followed by Mumbai and Pune. The growth was driven by third-party logistics, engineering, and automobile sectors. This trend reflects the robust expansion of India's logistics and manufacturing sectors, fueled by e-commerce growth and government initiatives.
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Adani Group Plans $1 Billion Bid for Jaypee's Real Estate Assets
Adani Group is reportedly preparing a $1 billion bid for Jaypee Group's real estate assets, including land parcels and housing projects. This move could mark Adani's significant entry into the residential real estate sector. The potential acquisition includes Jaypee's key assets in Noida and other regions, highlighting Adani's expansion strategy and the ongoing consolidation in India's real estate market amidst financial challenges faced by some developers.
New Airports Near NCR to Ease Traffic and Cut Ticket Costs
Two new airports are set to open near NCR cities, aiming to significantly ease traffic congestion and bring down ticket prices. These new facilities are strategically located to serve growing passenger demand and improve regional connectivity. By providing alternative travel options, they are expected to enhance overall efficiency in air travel while offering more affordable pricing.
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