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Time of India
12-07-2025
- Business
- Time of India
Luxury housing sales surge 85% in H1 2025: Report
NEW DELHI: India's luxury housing market witnessed a sharp acceleration in the first half of 2025, with sales rising 85% year-on-year to nearly 7,000 units across the top seven cities, according to a joint report by CBRE South Asia and ASSOCHAM . This surge underscores growing appetite among high net-worth individuals (HNIs), ultra-HNIs and non-resident Indians (NRIs), seeking premium assets amid macroeconomic resilience and a stronger U.S. dollar. Leading the charge was the Delhi-NCR market, which accounted for 57% of total luxury sales with approximately 4,000 units, registering a threefold increase over the previous year. Mumbai followed with 1,240 units (18% share), reflecting a 29% year-on-year growth. Cities like Chennai and Pune—traditionally dominated by mid-income housing—also entered the luxury orbit, contributing around 5% of the overall sales. Gaurav Kumar, managing director (Capital Markets and Land), CBRE India, said, "The remarkable rise in luxury housing, both in demand and supply, reflects a structural shift in homebuyer preferences and reaffirms India's position as a high-potential market for global and domestic investors alike." In tandem with sales, new luxury launches also rose 30% year-on-year to approximately 7,300 units during January-June 2025. Over 90% of these were concentrated in Delhi-NCR, Mumbai and Hyderabad, signaling a focused push by developers to cater to evolving buyer preferences. The overall housing market also remained buoyant, with ~1,32,000 units sold and ~1,38,000 units launched across the top cities, reflecting balanced demand and supply dynamics.
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Business Standard
11-07-2025
- Business
- Business Standard
Luxury home sales up 85% in 7 cities in first half of 2025: Report
As many as 7,000 luxury homes, priced Rs 4 crore to Rs 6 crore, were sold in India's top seven cities between January and June, marking an 85 per cent annual increase, said a report on Friday. Delhi-NCR (National Capital Region) clocked 57 per cent of the sales, thereby becoming the market leader, according to the report jointly released by CBRE South Asia, a US-based commercial real estate services and investment firm, and Indian business chamber ASSOCHAM. As many as 4,000 luxury homes were sold in Delhi-NCR, marking a threefold increase from the previous year. Mumbai was next by clocking sales of 1,240 units, comprising 18 per cent of the total and growing 29 per cent from the previous year. Industry experts attributed the sales rise to several factors. Rising aspiration: 'India's residential market has entered a phase of strategic resilience. The standout growth of luxury and premium housing indicates rising consumer confidence and lifestyle aspirations,' said Gaurav Kumar, managing director, capital markets and land, CBRE India. Wealth preservation: High net worth individuals, ultra-HNIs and Non-Resident Indians are investing in luxury real estate to have assets that will be safe amid global uncertainties and a strong US dollar. The report said 7,300 luxury homes were launched in the first half of 2025, marking a 30 per cent increase. Delhi-NCR, Mumbai and Hyderabad accounted for over 90 per cent of these launches. 'The housing boom highlights the need for reforms that ease approvals and incentivise sustainable development. Housing is no longer just shelter; it's an engine for inclusive growth,' said Manish Singhal, secretary general of ASSOCHAM. With increasing urbanisation accelerating and disposable incomes on the rise, experts expect the luxury housing segment to remain on a strong growth trajectory.
Time of India
08-07-2025
- Business
- Time of India
Pune witnesses significant boost in office leasing
1 2 3 Pune: The office leasing market in Pune experienced a notable surge in the first half of 2025, continuing with the trend observed in 2024. This increase was primarily fuelled by Global Capability Centers (GCCs), which are the Indian technology hubs of multinational corporations, as they aggressively expanded their operations. The GCCs secured a larger proportion of available office spaces in the city during the initial six months of the year, with a particularly strong increase in activity during the April-June quarter. Reports indicate that the total office spaces leased in Pune from Jan to June 2025 ranged from 38 lakh sqft to 51 lakh sqft. Data from real estate consulting firm CBRE South Asia highlights that nearly 30 lakh sqft of commercial space was leased in Q2 2025 alone. Out of this, an impressive 15 lakh sqft was leased by the GCCs — a substantial jump compared to the 2.5 lakh sqft they rented in the first three months of 2025. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "India's office market has not only sustained, but accelerated the momentum built in 2024, propelled by the expansion of GCCs, the resurgence of third-party IT service providers, and the growing demand for flexible workspaces," Shishir Baijal, CMD of Knight Frank India, said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Peush Jain, MD of commercial leasing at Anarock, said the leasing activity of GCCs in India increased amid the ongoing policy chaos in the US. However, new additions to office spaces also suddenly increased between Jan and June as some planned projects in Kharadi were completed recently. Office completions stood at 88 lakh sqft — a 264% increase. Although it led to a corresponding rise in vacant offices, commercial rentals increased by 3% to Rs77 per sqft, indicating that corporations are willing to pay for quality and flexibility, as per a Knight Frank India report. Flex operators maintained their demand in office leasing, led by large block deals across Kharadi, Mundhwa, Balewadi, and Wakad. Pune: The office leasing market in Pune experienced a notable surge in the first half of 2025, continuing with the trend observed in 2024. This increase was primarily fuelled by Global Capability Centers (GCCs), which are the Indian technology hubs of multinational corporations, as they aggressively expanded their operations. The GCCs secured a larger proportion of available office spaces in the city during the initial six months of the year, with a particularly strong increase in activity during the April-June quarter. Reports indicate that the total office spaces leased in Pune from Jan to June 2025 ranged from 38 lakh sqft to 51 lakh sqft. Data from real estate consulting firm CBRE South Asia highlights that nearly 30 lakh sqft of commercial space was leased in Q2 2025 alone. Out of this, an impressive 15 lakh sqft was leased by the GCCs — a substantial jump compared to the 2.5 lakh sqft they rented in the first three months of 2025. "India's office market has not only sustained, but accelerated the momentum built in 2024, propelled by the expansion of GCCs, the resurgence of third-party IT service providers, and the growing demand for flexible workspaces," Shishir Baijal, CMD of Knight Frank India, said. Peush Jain, MD of commercial leasing at Anarock, said the leasing activity of GCCs in India increased amid the ongoing policy chaos in the US. However, new additions to office spaces also suddenly increased between Jan and June as some planned projects in Kharadi were completed recently. Office completions stood at 88 lakh sqft — a 264% increase. Although it led to a corresponding rise in vacant offices, commercial rentals increased by 3% to Rs77 per sqft, indicating that corporations are willing to pay for quality and flexibility, as per a Knight Frank India report. Flex operators maintained their demand in office leasing, led by large block deals across Kharadi, Mundhwa, Balewadi, and Wakad.
Time of India
10-05-2025
- Business
- Time of India
Retrofitting can unlock ₹1.2–1.6 lakh crore in asset value across Indian offices: CBRE
NEW DELHI: India's ageing office stock presents a significant value creation opportunity, with strategic retrofitting capable of unlocking up to ₹1.2–1.6 lakh crore in capital value, according to a recent report by CBRE South Asia. The report estimates that such upgrades could drive 25–40% asset value enhancement in key commercial micro-markets. To realise this potential, the total investment required is estimated between ₹30,000–40,000 crore, depending on the scale and scope of enhancements. This includes structural upgrades, façade modernisation, HVAC optimisation, ESG compliance, and the addition of employee-centric amenities. The report adds that well-executed retrofits can offer a 3–5 year payback period, driven by improved occupancy, better lease terms, and enhanced tenant retention CBRE estimates that close to 160–180 million sq ft of India's office stock is over a decade old and likely in need of refurbishment or complete repositioning. 'With workplace preferences changing rapidly and tenants now demanding enhanced sustainability, wellness, and smart technology integration, retrofitting offers a high-return solution for landlords and investors,' said Abhinav Joshi , head of research – CBRE India, MENA & SE Asia. The report notes that capital value enhancement post-retrofit could reach 40% in select micro-markets, with rental appreciation potential ranging between 15–35%, depending on location, scope, and quality of upgrades Bengaluru, NCR, and Mumbai lead retrofit demand According to CBRE, over 160–180 million sq ft of India's office inventory is more than a decade old and in need of varying levels of upgradation. Of this, more than 70% is concentrated in three major metros: Bengaluru: 35–40 million sq ft Delhi-NCR : 30–35 million sq ft Mumbai (MMR): 25–30 million sq ft These cities alone represent a retrofit investment opportunity of ₹20,000–25,000 crore, and could potentially unlock over ₹1 lakh crore in capital value post-upgradation. Bengaluru's Outer Ring Road, Whitefield, and CBD/SBD areas lead the demand due to the presence of early-generation IT parks and SEZs. In NCR, the focus is on Gurugram's Udyog Vihar, Golf Course Extension, and Noida's Sector 62/63 belt, where many buildings now face occupancy pressure due to lack of ESG compliance and modern infrastructure. Mumbai's BKC, Andheri East, and Lower Parel also feature prominently in the list of zones with high retrofit potential. Other cities like Hyderabad, Pune, and Chennai are expected to see 10–15 million sq ft of ageing stock each entering the retrofit cycle within the next 2–3 years. 'The retrofitting trend aligns with the maturing of India's office sector, where older assets are under increasing pressure from Grade A+ supply and ESG-compliant buildings,' said Sumit Arora, head – National Operations & Workplace Strategy, CBRE Consulting. Citing recent workplace experience surveys, CBRE notes that 81% of employees expressed a preference for upgraded workspaces offering better lighting, air quality, acoustic comfort, and breakout zones. More than 60% of respondents also stated that high-quality work environments have a direct impact on productivity and talent retention. The report highlights a set of financial and operational value drivers propelling the retrofitting trend in India's office market. Retrofitted buildings in high-demand micro-markets can witness capital appreciation of up to 40%, while commanding 15–35% higher lease rentals due to improved design, efficiency, and tenant experience. Additionally, energy-efficient upgrades such as HVAC optimization, LED lighting, and advanced water systems can reduce operating costs by 20–30% over time. Beyond financial returns, retrofits also help developers and asset owners align with ESG benchmarks, achieve green certifications, and enhance the long-term sustainability profile of their portfolios.
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Business Standard
07-05-2025
- Business
- Business Standard
Indians seeking newer forms of entertainment activities in malls: CBRE
Indian consumers are increasingly preferring active entertainment and newer activities such as trampoline parks, escape rooms, rock climbing, and AR/VR experiences over passive options, even as traditional amusement parks and bowling alleys remain popular. High streets and standalone experience centres are being equally favoured—especially by Gen Z—and consumers are willing to spend up to Rs 4,000 monthly, with a majority willing to spend in the range of Rs 1,000–2,000, according to a survey by real estate consultant CBRE South Asia and Invest India. A relatively smaller portion prefers passive experiences such as immersive art, art fairs, museums, and theatre, the report said. Ram Chandnani, managing director, advisory and transaction services, CBRE India, told Business Standard, 'Across Indian cities, both high streets and shopping malls have evolved into distinct retail ecosystems. Take Bengaluru, for example—micro-markets like Indiranagar have developed into vibrant neighbourhood clusters, largely driven by F&B.' 'They offer a curated retail experience catering to younger consumers who value not just dining but an immersive outing—grabbing a sandwich, coffee, or enjoying a full meal while shopping. These high streets thrive on proximity to residential hubs and infrastructure, which enhances accessibility and footfall,' Chandnani added. On average, over 65 per cent of respondents preferred to focus solely on entertainment experiences or combine them with food and beverages (F&B), as per the report titled Retail Level-up – The Entertainment Edition. Chandnani also highlighted the growing interest from international entertainment brands, such as the US-based dining and entertainment centre Dave & Buster's, introduced by the Malpani Group. 'High-quality entertainment centres are thriving in both metros and tier-II cities, with leading brands reporting similar revenue performance across these markets. This growth is fuelled by a focus on immersive experiences, as developers invest in placemaking through experiential dining, large-format stores, green zones, and community amenities. Regular events further enhance footfall and customer loyalty,' said Chandnani. Anshuman Magazine, chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said, 'The entertainment sector's growth is redefining retail real estate in India. As consumers increasingly seek experiential engagement, entertainment formats—particularly family entertainment centres and children entertainment centres—are becoming critical to mall strategies. We believe the integration of experience-driven formats will be central to the next phase of retail development in India.'
