Savills India has announced an unprecedented absorption of 75.2 million square feet in the Indian office market in 2024, marking a significant milestone in the real estate sector. This surge is driven by the tech sector, urbanization, and robust economic
Savills IndiaOffice MarketReal EstateTech SectorUrbanizationReal Estate PuneDec 30, 2024
Savills India reported a record-breaking absorption of 75.2 million square feet in the Indian office market in 2024.
The main drivers of this surge are the robust growth of the tech sector, urbanization, and a stable economic environment.
Major cities like Bangalore, Pune, and Hyderabad have seen significant growth in office space absorption, particularly due to their status as tech hubs.
Urbanization has contributed to the growth of the office market by increasing the demand for office spaces as more people move to urban areas for better job opportunities and lifestyles.
The rapid growth in office space demand has led to a rise in property prices and the need for robust infrastructure, including transportation and utilities.
Water-logging in Mumbai takes a toll on property values, with rental rates dropping by up to 20% in affected areas.
Nana Patole criticizes the decision, claiming it violates rules and favors those with political connections
Navi Mumbai has mandated structural audits for buildings over 30 years old, ensuring the safety and sustainability of its urban landscape. This move aims to address the growing concerns over the structural integrity of aging buildings and promote a safer
Godrej Properties has successfully raised Rs 6,000 crore through a qualified institutional placement (QIP), marking the largest such fund-raise by an Indian real estate company. The proceeds will be used for a pipeline of projects, with demand four times
In a significant move, Saudi Arabia has extended real estate ownership and investment opportunities in the holy cities of Makkah and Medina to non-Saudis. This initiative aims to transform the real estate market into a magnet for both domestic and interna
Despite a general slowdown in the Indian residential property market, Godrej Properties has successfully sold Rs 10 billion worth of luxury homes in Gurugram, showcasing the resilient demand for branded luxury housing.