Faizan Haidar

Companies prioritize high-spec office fit-outs to enhance employee engagement and wellbeing, aiming to boost retention and talent attraction. Savills India data reflects a shift towards premium spaces, while tech players like Tushar Mittal drive demand amidst a growing construction industry.

Bestseller is closing its Indian ethnic wear brand Indifusion due to poor sales and shifting consumer trends. The company, known for western brands like Jack and Jones, bought Indifusion during the pandemic but struggled to understand and operate in the Indian wear market. The decline in traditional wear is part of a broader trend, with consumers increasingly choosing versatile, comfortable clothing for multiple occasions. Fusion wear, combining traditional and modern styles, is growing in popularity, driven by factors like the rise of the female workforce and fashion trends.

Property consultant InvestoXpert, is targeting Rs 4,000 crore sale in 2024-25 as residential real estate continues to grow. The company facilitated sales of properties worth Rs 2050 crore in 2023-24, 95% year-on-year growth compared to the previous fiscal year.

Homey operates 2,000 beds in Delhi and Bengaluru, emphasizing innovative PG accommodation for young adults. They collaborate with Iskcon Dwarka to provide affordable options for students and underprivileged individuals, aiming to eliminate financial barriers.

Real estate and construction activity contribute to about 40% of global Greenhouse Gas (GHG) emissions. The sector lacks robust tools to measure climate risks and define decarbonisation pathways.

The Q1 2024 saw leasing of 16.7 million sq ft, strongest Q1 in the last five years and a 20% rise year on year. Office space absorption across Indias six major cities is likely to register another big year with expectations of around 61 mn sq. ft. in 2024.

UP-RERA fines homebuyer for repetitive complaints despite relief, impacting justice delivery. Misuse of legal process observed by NCR Bench Chairman. Sanjay Bhoosreddy stresses deterring unscrupulous complainants with heavy costs to ensure justice for genuine allottees.

NBCC's FY 23-24 saw significant growth with projects like Amrapali and Kerala State Housing Board. KP Mahadevaswamy highlights sustainable development. Commercial real estate sales show progress through e-auctions.

Haryana's real estate regulatory authority (HRERA) in Gurugram has fined Countrywide Promoters Private Limited Rs 50 lakh for a misleading advertisement about its Green Oaks project. The ad showed amenities not part of the project, like a club and other facilities, leading to confusion among potential buyers. Despite mandatory provisions under the Real Estate (Regulation and Development) Act 2016, the promoter did not describe the details properly, violating Section 61 of the Act. The project is an affordable plotted colony at Sector 70-A, Gurugram, under Deen Dayal Jan Awas Yojna Affordable Plotted Housing Policy 2016.

Integrated co-working firm EFC (I) Ltd plans to form an investment manager entity to manage assets and investments of SM REIT through a wholly owned subsidiary EFC Ltd. Others like Strata and WiseX are also taking similar steps. The companys board has approved a proposal to create a step-down subsidiary under EFC Ltd for acting as an investment manager to SM REIT.