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Pune, January 16, 2025 CREDAI Pune Metro successfully organized a grand festival for Channel Partners, D2C, on January 16th at the Agricultural Ground, drawing thousands of Channel Partners from Pune and across the state. The event celebrated the vibrant real estate ecosystem and reinforced the strong bond between developers and channel partners. A key highlight of the event was a captivating film on Pune City, showcasing its unparalleled charm, growth potential, and why it remains a preferred destination for living, investing, and doing business. Prominent industry leader Satish Magar highlighted Pune’s appeal, emphasizing its status as a cultural, educational, IT, and automobile hub. He further stated that Pune’s beautiful weather adds to its allure, making it a top choice for homebuyers and investors alike. Influencers Mayank Agarwal and Saudagar also praised the city, sharing their admiration for Pune’s unique qualities and opportunities. Ranjeet Naiknaware, President of CREDAI Pune Metro, underscored the importance of the relationship between developers and channel partners in fostering mutual growth and success. The event was inaugurated by Darshan Chawla, President of the Professional Realtors of Pune (PROP), and was impeccably organized by Punit Oswal, the Convenor of the D2C event and expo. The D2C festival stands as a testament to the dynamic and collaborative spirit of Pune’s real estate industry, setting the stage for future growth and innovation.

Mumbai, 18th January 2025 To facilitate developers in Nagpur and Pune regions to register their housing projects with the Maharashtra Real Estate Regulatory Authority (MahaRERA), from this month, open house will be held outside the Mumbai headquarters. First open house will be held on January 22 in Nagpur. MahaRERA Chairman Manoj Saunik said,” The Real Estate (Regulation and Development) Act, 2016 unambiguously mentions that any housing project cannot be advertised without being registered with RERA. MahaRERA already has defined the legal, financial and technical framework for issuing a registration number to a housing project. To facilitate registration of a housing project and issuance of MahaRERA number, the queries raised are replied to in-person during the open session held every week at the headquarters in Mumbai. We will start with this practice, from this month, on a monthly basis in Nagpur and Pune as well. To begin with, we are starting in Nagpur. MahaRERA has been putting in efforts to assist in the project’s registration process. The experience will be seamless, if the applicants fill out the forms completely and furnish the required information.” While registering a housing project with MahaRERA, even after being assisted by experts from the Self-Regulatory Organisations (SROs), the developers are members of which, continue to face certain challenges in getting their queries answered. To address these, open houses are held every week at MahaRERA head office in Mumbai with senior office bearers in attendance. In the open house, doubts are addressed as per the queries raised. Developers from the other regions had requested to hold similar open houses in Nagpur and Pune. Therefore, MahaRERA has decided to hold open houses in Nagpur and Pune. To begin with, first open session will be held in Nagpur where officials from the financial, legal and technical departments will be present to address to queries pertaining to project’s registration. Recently, MahaRERA decided to reduce the minimum requirement of the SROs outside MMR from 500 projects to 200 to enable authorised associations from the real estate industry in rest of the Maharashtra to form SROs. This crucial decision is expected to better the project registration process for developers across the state. The Real Estate (Regulation and Development) Act, 2016 clearly mentions that a housing project cannot be advertised or sold without being registered with RERA. MahaRERA urges the developers to ensure all required details and documents are provided while submitting registration application. This enables in faster processing and issuance of MahaRERA registration number.

Pune, 17th January 2025: The CREDAI-Pune Metro’s 23rd edition of annual property exhibition, the Pune Property Expo 2025, was inaugurated today by Shri Murlidhar Mohol, Hon’ble Union Minister of State for Civil Aviation and Cooperation. The exhibition, held at the Agriculture College Ground, Pune, will run until 19th January 2025. The exhibition aims to provide a platform for homebuyers and investors to explore a wide range of real estate options, including affordable to luxury housing, NA plots to premium villas, commercial properties to pre-leased assets. The event will bring together over 55 trusted developers, showcasing more than 400 RERAregistered projects from Pune, PCMC and PMRDA regions. During the launch, Hon’ble Union Minister of State for Civil Aviation and Cooperation of India Shri Murlidhar Ji Mohol, said “I am delighted to be a part of the CREDAI-Pune Metro Property Expo 2025. This platform is crucial for discussing the steps being taken towards Pune’s development. Pune currently has a thriving population of 70 lakh, which is expected to grow in the coming years. As proud Punekars, we must work together and actively contribute to the city’s development. By collaborating and supporting positive initiatives, we can address challenges like traffic congestion and infrastructure improvement, ensuring a brighter future for Pune. Our current priorities include constructing new roads and infrastructure, reducing traffic congestion, and advancing airport development. With one lakh new houses being built annually, increasing urbanisation is putting significant pressure on the city’s infrastructure. To address the water supply challenges, we are working on installing 1,800 km of new water pipelines and water meters.” Mr. Ranjit Naiknavare, President, CREDAI- Pune Metro, said “We at CREDAI-Pune Metro are honoured to have Shri Murlidhar Ji Mohol who have graced this occasion with his presence. CREDAI-Pune Metro is proud to work hand in hand with the Government and the policy makers. We had a productive conversation with Shri Murlidhar Ji Mohol where we discussed various issues related to environment clearance, fast track Metro Expansion related Clearances, reforms in cooperative housing sector laws and construction of an international convention centre in Pune.” Also present on the occasion were Vice Presidents Manish Jain, Arvind Jain and managing committee members Kapil Gandhi, Punit Oswal and Anup Jhamtani. Visitors can look forward to several highlights, including special offers, spot loan assistance from leading financial institutions and entertainment activities. On 19th January, the expo will host customer-focused seminars featuring notable experts. Key sessions include: The Essentials of Redevelopment for Homeowners, a panel discussion featuring prominent speakers such as Mr. Gautam Chaterjee (Ex-Chairman, Maha RERA), Mr. Suhas Patwardhan (Chairman, Maharashtra Co-Operative Housing Federation) and Mr. Vikram Karandikar (M.D. Chaphalkar Karandikar), moderated by Mr. Sanjay Deshpande (CMD, Sanjeevani Developers). The Hidden Checklist Every Homebuyer Needs by Mr. Rahul Ajmera, Partner, Vasupujya Corporation. Role of Homebuyers in Eco-Friendly Practices by Mr. Sandeep Sonigra, M.D., Orange County Group. In addition to the seminars, attendees can participate in lucky draws and receive free gifts, adding to the excitement of the event. The details of the expo are as follows: Dates: 17th, 18th and 19th January 2025 Time: 10:00 AM to 7:00 PM Venue: Agriculture College Ground, Pune The Pune Property Expo 2025 is an ideal opportunity for property seekers to explore a wide range of real estate options, connect with developers and make informed decisions about their dream property. About CREDAI-Pune Metro: Founded in 1982, CREDAI-Pune Metro is an association representing over 2000 member developers in Pune. The organization supports the real estate sector through policy advocacy, training, workshops, and seminars, enabling its members to stay informed about industry trends and regulatory updates.

In a significant step toward promoting sustainable development at the property buyer level, Mrs. Smita Patil, National President of NAREDCO MAHI, submitted a formal proposal to Shri Chandrashekhar Bawankule, Hon. Minister for Revenue, Government of Maharashtra. The proposal calls for a 1% reduction in stamp duty for property buyers opting for certified green building projects. During the discussion, Mrs. Patil emphasized the need to promote sustainable practices at the buyer level, aligning with the increasing importance of green urbanization. She highlighted that while the government already incentivizes developers for adopting green building practices, extending benefits to property buyers would create a robust demand for certified green projects. This, in turn, would encourage more developers to incorporate sustainable design and construction methods. The proposal suggests a 1% reduction in stamp duty for properties in projects certified by recognized authorities such as IGBC, GRIHA, or similar organizations. According to Mrs. Patil, this initiative would not only encourage environmentally responsible choices but also yield long-term economic and social benefits, including reduced carbon footprints and improved living standards. Hon. Minister Shri Chandrashekhar Bawankule appreciated the initiative and assured that the government would positively consider the proposal. He expressed the government’s commitment to working closely with NAREDCO to promote sustainable developments across the state. This meeting marks a vital step forward in creating impactful collaborations between policymakers, developers, and buyers. The discussion also covered various real estate topics to foster greater collaboration between the government and industry stakeholders to drive sustainable growth in the sector. This initiative reflects NAREDCO MAHI’s dedication to advancing sustainability and creating impactful collaborations between the government, developers, and buyers to ensure a greener, healthier future. National Real Estate Development Council (NAREDCO), established in 1998 under the auspices of the Ministry of Housing and Urban Affairs, Government of India, is the preeminent industry association for the real estate sector in India. The meeting, held on January 10, 2025 at Pune, was attended by Shri Ravindra Binwade (IAS), Inspector General of Stamp & Registration, esteemed representatives of NAREDCO, including Mr. Hitesh Thakkar, Vice President, NAREDCO Maharashtra, Mr. Bharat Agarwal, President, NAREDCO Pune, Mr. Ghanshyam Dokane, President, NAREDCO Vidharbha, Mr. Rajendra Pate, Vice Chairman, NAREDCO Pune, Mr. Mukesh Yeole, Vice President, NAREDCO Pune, Mr. Balashaeb Karanjule, NAREDCO Pune, Mr. Vishal Gupta, NAREDCO Pune, Mr. Mitesh Thakkar, NAREDCO Maharashtra, Dr. Anshul Gujarathi, Vice President (West), NAREDCO MAHI, Dr. Kettaki Kasbekar, AVP – West, NAREDCO MAHI, Ms. Manaswi Kele, Member, NAREDCO MAHI amongst the other NAREDCO members.

Mumbai, December 28, 2024 CREDAI-MCHI, the apex body representing real estate developers in the Mumbai Metropolitan Region (MMR), is set to redefine home buying with the launch of India’s first-ever Quick Real Estate Mall at the upcoming 32nd CREDAI-MCHI Property and Home Finance Expo. Scheduled from January 17 to 19, 2025, at the Jio World Convention Centre, the event will introduce a groundbreaking approach to home buying, tailored to empower women and streamline the purchasing process. This year’s expo will place a strong emphasis on Pink Sunday, a dedicated initiative focused on empowering women homebuyers through the MCHI STREE Awas Yojana. This program underscores CREDAI-MCHI’s commitment to making homeownership more inclusive and accessible for women, aligning with its vision of fostering transparency, trust, and empowerment in the real estate sector. By addressing the unique needs of women in the home-buying journey, the initiative ensures a supportive and welcoming environment for aspiring homeowners. Speaking about this transformative initiative, Mr. Dominic Romell, President of CREDAI-MCHI, emphasized, “The Quick Real Estate Mall is a reflection of our vision to transform the real estate sector with innovation and customer-centric solutions. By streamlining the home-buying process and introducing unique features, we are making homeownership more accessible, especially for first-time buyers. This is not just an event; it is the beginning of a new era in Indian real estate.” He added, “This expo is designed to provide an unparalleled experience to buyers. From the Friday Ambassadors Connect, which will see the participation of over 5,000 channel partners, to the Super Saturday Sale offering exclusive deals, we have planned engaging initiatives to benefit everyone involved.” Nikunj Sanghvi, Chairperson of the Expo and Treasurer of CREDAI-MCHI, remarked, “We are thrilled to present this groundbreaking initiative to redefine how people experience real estate. With dedicated efforts like Pink Sunday and the Quick Real Estate Mall, we aim to address the evolving demands of homebuyers while empowering women to take confident steps towards homeownership. This expo will set a new benchmark in creating an accessible and inclusive home-buying ecosystem.” The Quick Real Estate Mall is poised to revolutionize the home-buying experience by enabling prospective buyers to book their dream homes and secure loan approvals within just ten minutes. This innovative concept addresses the growing demand for convenience and efficiency, streamlining the entire process and setting a new standard in the industry. With this initiative, CREDAI-MCHI aims to enhance accessibility for first-time buyers and create a seamless experience for all participants. The three-day event will also host prestigious awards ceremonies, including the Golden Pillars Awards and Spaciux Awards for Architects, celebrating excellence and innovation in the real estate sector. These initiatives aim to create an engaging platform for developers, financial institutions, and homebuyers to connect, collaborate, and explore new opportunities. ABOUT CREDAI-MCHI CREDAI-MCHI is an apex body comprising members from the Real Estate Industry in the Mumbai Metropolitan Region (MMR). With an impressive membership of over 1800+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibag, Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognized body for private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the industry’s organization and progress. As a part of CREDAI National, an apex body of 13000 developers across the nation, CREDAI-MCHI has emerged as a preferred platform for regional discussions on housing and habitat by establishing close and strong ties with the government. It is committed to breaking barriers to create a strong, organized, and progressive real estate sector in the MMR.The vision of CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan Region as it preserves, protects, and advances the right to housing for all. To continue being a trusted ally, guiding their members, supporting the Government on policy advocacy, and assisting those they serve through the ever-evolving real estate fraternity. Website: https://mchi.net/ For further media queries, please contact: Sonia Kulkarni | 9820184099 [email protected]

More Women Should Join the Construction Industry – Dr. Niranjan Hiranandani’s Opinion Mrs. Smita Dhanraj Patil from Pune Elected as National President of MAHI, the women’s wing of National Real Estate Development Council (NAREDCO) that works under the aegis of Ministry of Housing & Urban Affairs, Govt. of India.  Pune: The construction industry is growing faster than other sectors in the country. The construction sector in India currently has a business growth rate of about 20%, and this is expected to increase in the future. Due to this, more women should join the construction industry, which is traditionally considered male-dominated, said Niranjan Hiranandani, Chairman of the National Real Estate Development Council (NAREDCO), and a well-known construction professional. NAREDCO has established “MAHI” as a platform to support women professionals in the real estate sector. This platform represents all sectors and is the highest national-level body under the Ministry of Housing and Urban Affairs. Hiranandani was speaking at the “MAHI Change of Guard Ceremony & Pune Conclave” organized by NAREDCO MAHI at Hotel Sheraton Grand. The event was attended by notable figures such as Mr. Shekhar Singh, IAS (Commissioner of Pimpri Chinchwad Municipal Corporation), Mr. Rajan Bandelkar (Vice Chairman, NAREDCO), Mr. G. Haribabu (President, NAREDCO), Mrs. Apekshita Tipse (MD, Cosmos Bank), Dr. Vidya Yeravdekar (Pro-Chancellor, Symbiosis University), Mr. Dev Gill (Famous Actor), newly elected Chairperson Mrs. Smita Dhanraj Patil, outgoing President and current Chairperson of MAHI, Dr. Ananta Singh Raghvanshi, and Mr. Bharat Agarwal, President of NAREDCO Pune. Continuing his speech, Niranjan Hiranandani stated, “Roti, Kapda, aur Makaan (food, clothing, and shelter) are the basic needs of human beings, but even today, many people do not have their own homes. Under the guidance of Prime Minister Narendra Modi, NAREDCO is committed to providing affordable homes. In cities like Mumbai, nearly 50% of the population lives in slums. To improve their standard of living, we will present a 10-year plan to the government so that Mumbai becomes slum-free and everyone can afford homes.” He also mentioned that through MAHI, efforts will be made to bring more women into the construction business, and necessary training will be provided. PCMC Commissioner Mr. Shekhar Singh said that the construction industry should not only establish separate wings for women but also take steps to address the significant number of women-approved projects in the sector. He emphasized that women are now in key positions in the country, such as the President, Chief Secretary, Director General of Police, and Chief Conservator of Forests in Maharashtra. He put a special focus on importance of sustainable developments. Mrs. Smita Patil, the newly elected President of MAHI, expressed that her focus would be on increasing the participation of women in the construction industry, promoting sustainable developments, water conservation, creating collaboration platforms with allied industries, promoting entrepreneurship and innovation in the industry. During the event, Mrs. Smita Patil launched an initiative named ‘Shashwat Nirman’, a NAREDCO MAHI initiative that will promote sustainable development in the industry by the hands of Mr. Shakhar Singh, Dr. Niranjan Hiranandani and Dr. Ananta Raghuvanshi. The initiative will be focused on creating awareness on sustainable developments within all the stakeholders including developers and home buyers. Dr. Ananta Raghuvanshi, Former President and current Chairperson of NAREDCO MAHI, mentioned the evolving journey of MAHI. Mr. Rajan Bandelkar (Vice-Chariman, NAREDCO) remarked that while the construction industry has been traditionally male-dominated, Prime Minister Narendra Modi’s “Beti Bachao, Beti Padhao” campaign has led to an increase in the participation of women in sectors like medicine and finance. However, their numbers in construction are still low. He expressed his happiness that a Marathi woman is now the National President of MAHI, an initiative that was started four years ago to increase female participation in the industry. The event was graced by many prominent leaders, government officials, architects from the industry. The event also featured two impactful panel discussions on Women in Real Estate and Sustainable Realty. At the event, G. Haribabu, Mrs. Apekshita Tipse, Dr. Vidya Yeravdekar, Mr. Dev Gill, and Mr. Bharat Agarwal also shared their thoughts and wished Mrs. Smita Patil and MAHI great success in its future endeavours.

Mumbai, 18th December 2024 India’s office real estate sector is poised for unprecedented growth in 2024, with gross leasing volumes expected to rise by 14% to touch a historic high of 85 million square feet, according to a report by Cushman & Wakefield. This marks a significant leap from 74.6 million square feet recorded in 2023, underscoring the sector’s strong recovery and sustained momentum. The robust performance is driven by increased activity in sectors such as IT-BPM, BFSI, engineering and manufacturing, and the rising influence of Global Capability Centres (GCCs). With fresh leasing accounting for nearly 70% of the projected gross leasing volume (GLV) in 2024, the report highlights growing business confidence and expansion by both global and domestic players. Commenting on this milestone, Mr. Navin Makhija, Managing Director, The Wadhwa Group said, “The robust momentum in India’s office real estate leasing reflects the strength and resilience of the country’s business ecosystem. With increased activity in sectors like IT-BPM, BFSI, and manufacturing, we are observing sustained demand for high-quality office spaces, particularly in prime micro-markets. This not only underscores the confidence of global and domestic players in India but also indicates a long-term positive outlook for commercial real estate, driven by infrastructure developments and new supply pipelines.” The January-September period of 2024 alone has already seen 66.7 million square feet of office leasing, signaling strong year-end numbers. The upward trend also aligns with occupiers’ growing preference for Grade A, well-located office spaces equipped with modern amenities. Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers noted, “The office real estate sector’s expected milestone of 85 million square feet this year highlights the buoyant market sentiment and increasing business activity. As occupiers prioritize top-grade, well-located office spaces equipped with modern amenities, we are seeing heightened interest from both global entities and domestic businesses. This momentum is further propelled by sectors such as IT-BPM and BFSI, signaling a strong demand for sustainable and innovative office solutions that meet evolving occupier needs.” Key micro-markets are witnessing moderate upward pressure on rents due to this demand, particularly as new supply pipelines become concentrated in prime business hubs. Despite consistent supply influx helping maintain a tenant-favorable sentiment, rents are expected to rise steadily in 2025. Mr. Abhishek Jain, COO, Satellite Developers Private Limited (SDPL) added, “The record gross leasing projections for 2024 are a testament to the steady growth and recovery of India’s office real estate sector post-pandemic. The rising contribution of GCCs and domestic firms expanding their operations showcases the vibrancy of our economy and the evolving workspace dynamics. With consistent demand for Grade A assets and a moderate upward trend in rents, we foresee sustained opportunities for developers to cater to the growing need for flexible, tech-driven office spaces.” Cushman & Wakefield’s report predicts that GCCs will account for nearly 30% of the total gross leasing volume, further solidifying their role as a key driver of demand. Tenant representation experts highlight that India’s office sector is not only recovering but transforming to meet the evolving dynamics of workspace requirements, driven by technology, flexibility, and sustainability. The future outlook for India’s commercial real estate remains optimistic, with prime micro-markets continuing to attract both occupiers and investors. As the sector marches towards a record-breaking year, the steady growth of office leasing reflects the resilience and long-term potential of India’s real estate landscape.

Navi Mumbai, 11th December 2024 HDFC Bank has secured a 10-year lease for 416,000 sq ft of office space at the Gigaplex complex within K Raheja Corp’s Mindspace property in Airoli, Navi Mumbai. The bank will incur an annual rental expense of Rs 24 crore, which translates to a monthly rent of Rs 2 crore (Rs 49 per sq ft), as per documents obtained from Propstack. The lease consists of two separate agreements: one for 197,877 sq ft and another for 218,217 sq ft, along with provisions for 322 car parking spaces. The lease agreement includes a clause for a 15% rental increase every three years. The documents also disclose that HDFC Bank has made a security deposit of Rs 12.23 crore. The lease, registered on November 13, is set to begin on January 1. Sources suggest that the space will likely be utilized for IT/ITES operations, although both HDFC Bank and K Raheja Corp were unavailable for comment.

Mumbai, 10th December 2024 Agarwal Holdings Private Limited has acquired a land parcel in the highly sought-after Juhu locality of Mumbai, valued at Rs. 455 crore, according to Square Yards. The plot was acquired from Shapoorji Pallonji Gwalior Private Limited, a part of Shapoorji Pallonji Group, a prominent Indian conglomerate with diversified interests across construction and engineering, infrastructure, real estate, energy, and textiles, among others. According to the registration document reviewed by Square Yards, the land parcel spans an area of approximately 1,819.90 sq. m (19,589.22 sq. ft.). The transaction was finalized and registered in November 2024, with a stamp duty of Rs. 27.30 crore and registration charges amounting to Rs. 30,000. Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards said, “Mumbai’s position as India’s financial capital and a strategic business hub continues to draw BFSI firms and their allied industries to the city. Recent transactions, such as Agarwal Holdings Private Limited’s recent land acquisition in Juhu, highlight the city’s enduring appeal for both commercial and residential investments. Key hubs such as the Bandra-Kurla Complex (BKC) and prime locations across Southern and Western Mumbai have firmly established themselves as sought-after destinations for commercial and luxury real estate. In a market defined by limited land availability and high demand, securing a foothold in Mumbai provides businesses with a competitive edge while offering robust ROI potential on their investment fuelled by escalating land and property values and a thriving commercial ecosystem.” It is noteworthy that Agarwal Holdings Private Limited acquired land parcels in Mumbai’s Juhu locality in September 2022. The acquisitions cover areas of 3,969 sq. m (~42,721.92 sq. ft) and 3,019 sq. m (~32,496.21 sq. ft), with a combined value of Rs. 332.8 crore. Juhu remains a marquee residential destination in Mumbai, driven by its coastal appeal, proximity to international airport, luxury housing stock, and strong social infrastructure. The locality attracts highnet-worth individuals including several celebrities, leveraging its proximity to Juhu Beach and premium amenities. Agarwal Holdings Private Limited, established on December 11, 2020, is a private, non-government entity registered with the Registrar of Companies in Mumbai. The company specializes in activities auxiliary to financial intermediation, providing essential support to financial institutions such as banks, investment firms, and insurance companies. Its range of services includes managing loan applications, conducting credit analysis, offering investment advice, facilitating insurance brokerage, and handling financial transactions, enabling smoother operations across the financial sector