News Room

Mumbai, 6th March 2025: Tesla has finalized a five-year lease agreement for its first showroom in India, paving the way for its entry into the country’s electric vehicle (EV) market, according to a Reuters report. The showroom will be situated in Mumbai’s Maker Maxity building, located in the business and retail hub of Bandra Kurla Complex, near the city’s airport. As per the lease documents, the agreement commenced on February 16, 2025. Tesla will pay approximately $446,000 in rent for the first year for a 4,003-square-foot (372-square-meter) space, roughly equivalent to the size of a basketball court. Tesla has been eyeing the Indian market for years. While the company initially aimed to launch operations in 2022, regulatory challenges, high import duties, and inadequate EV infrastructure delayed its plans. After addressing these concerns, Tesla reignited its efforts last year to establish a presence in India, targeting one of the fastest-growing automotive markets in the world.

Pune, 24th February 2025 – Pune has reaffirmed its position as India’s leading real estate market, recording the highest housing sales across the country for the fourth consecutive year. The *Pune Housing Report – February 2025, jointly released by CREDAI Pune Metro and CRE Matrix, highlights Pune’s dominance, affordability, and rapid growth in the real estate sector. According to the report, Pune recorded 90,000 housing units sold in 2024, reflecting a 56% surge in sales since 2020. The total sales value soared to *₹65,000 crores in 2024, marking a 9.28% increase from ₹59,480 crores in 2023. The official unveiling of the report took place at the Ramkumar Rathi Hall, CREDAI Pune Metro office, Camp, attended by key industry leaders, including **CREDAI Pune Metro President Ranjit Naiknavare, CRE Matrix CEO Abhishek Gupta, Public Relations Convenor Kapil Gandhi, Management Committee Members Abhishek Bhatewara and Punit Oswal, Data Analyst Rahul Ajmera, and Hiren Parmar. Over 100 representatives from the real estate sector participated in the event. Key Insights from the Report India’s Top Real Estate Market – Pune led the country with nearly 90,000 housing units sold in CY2024, generating a total sales value of *₹65,000 crores, reflecting an extraordinary 116% growth since 2019. Affordability Fuels Growth – Pune remains the most affordable metro city in India, with an average home price of ₹73 lakh, significantly lower than Bengaluru (₹1.35 crore) and Hyderabad (₹1.75 crore). Investment Preference – 51% of individuals in Pune prefer real estate over other assets such as equities, gold, or fixed deposits, making it the most sought-after investment avenue. Market Expansion – Pune’s residential market has seen a *22% CAGR* in the total value of unit sales over the past five years. Changing Buyer Preferences – The share of homes priced below ₹70 lakh dropped to *60% in 2024, down from **85% in 2020, indicating **a rising demand for premium housing*. Luxury Housing Surge – Sales of homes priced above *₹1 crore have increased 5X in five years*, signaling Pune’s transformation into a more affluent real estate market. Affordable Housing Shift – Affordable homes priced below *₹45 lakh now account for 30% of total sales, compared to 55% in 2020, suggesting **a reduced supply in this segment. Regional Sales Hotspots – Over 75% of housing sales were concentrated in Pune North West (Hinjawadi – Mahalunge), Pune North East (Kharadi – Wagholi), and Pune North (Pimpri-Chinchwad). Southwest Pune Growth – The Kothrud-Bavdhan region witnessed a 55% rise in the average value of units sold between CY2020 and CY2024. Property Value Appreciation – Pune’s average home value has risen by 44% in the last five years, driven by larger unit sizes and higher input costs. Industry Leaders Weigh In Mr. Ranjit Naiknavare, President, CREDAI Pune Metro, stated: “Over the past five years, we have seen a remarkable 56% rise in sales volumes, positioning Pune as India’s highest-selling real estate market. The total sales value has doubled, contributing significantly to government revenues. The most striking trend is the **5X increase in sales of homes priced above ₹1 crore, reflecting Pune’s evolution into a premium housing market.” Mr. Abhishek Kiran Gupta, CEO, CRE Matrix, emphasized: “Pune’s housing market is undergoing a transformation, with homebuyers opting for larger, more spacious properties. Our report highlights that **units priced between ₹1 crore and ₹2 crore have witnessed the highest growth in value, showing strong buyer confidence and an evolving premium housing segment.” Market Challenges & Future Outlook During the event, Mr. Rahul Ajmera presented insights on ‘Real Estate Trends & Analysis’, noting that new project launches in Pune have declined by 25% due to delays in approvals, land acquisition issues, and regulatory constraints. This has limited homebuyer options and intensified competition among developers. Despite these challenges, Pune’s real estate market is poised for sustained expansion with rising industrial growth, infrastructure development, and increasing migration trends. The demand for premium housing is expected to strengthen Pune’s reputation as India’s most dynamic real estate destination. About CREDAI Pune Metro Established in 1982, CREDAI Pune Metro represents over 2,000 member developers, working to support and shape the real estate sector through policy advocacy, training, and industry workshops. The association remains at the forefront of providing market insights and regulatory updates to its members. Media Contact: Devendra Nazare | +91 9764770840 | devendra@milestones.in

Navi Mumbai, 27th Feb, 2025 – Blackstone Group, the world’s largest alternative asset manager, in partnership with leading real estate developer Panchshil Realty, is set to develop India’s largest hyperscale data center in Navi Mumbai. The project, with an estimated capacity of 500 MW and an investment exceeding Rs 20,000 crore, marks a significant milestone in India’s digital infrastructure landscape. This state-of-the-art hyperscale data center will be powered by up to 65% green and renewable energy, making it the first of its kind in the country to prioritize sustainability at this scale. Spanning over 3 million sq. ft. across 14 buildings, the development will cater to the growing demand for high-performance computing, cloud services, artificial intelligence, and data-intensive applications. The investment is Blackstone’s first Foreign Direct Investment (FDI) following its recent agreements with the Government of Maharashtra at the World Economic Forum in Davos. As part of this expansion, Panchshil Realty’s subsidiary, Gramercy Info Park, has acquired a nearly 50-acre land parcel adjacent to Reliance Corporate Park in Ghansoli, Navi Mumbai, for Rs 900 crore. The proposed facility will be built-to-suit for leading hyperscaler companies and is set to become a key hub for digital transformation in India. Blackstone is already developing two data centers in Navi Mumbai under its Lumina CloudInfra brand, each with an investment of over $300 million, adding up to 60 MW of capacity. The new hyperscale data center will further strengthen Blackstone’s presence in India’s data center ecosystem. Blackstone has been a leading investor in India with over $50 billion in assets under management since its entry into the country, with Maharashtra accounting for nearly 40% of these investments. The firm has invested over $20 billion in Indian real estate across major cities, making it the largest office owner in the country with a portfolio of 135 million sq. ft. This landmark project underscores Blackstone’s commitment to advancing India’s digital infrastructure and supporting the nation’s rapid technological growth.

Mumbai, 24 February 2025: Grand Kausa City in Mumbra has witnessed a staggering response, selling over 1,050 apartments within just 18 days since its launch on January 29, 2025. The project, marketed by The Guardians Real Estate Advisory and developed by Yes Central, has recorded a remarkable sales turnover of ₹430 crore, reaffirming Mumbra’s potential as a high-growth real estate destination. The overwhelming demand has been driven by post-budget economic optimism, attractive home loan policies, and rapid infrastructure developments, making real estate a preferred investment choice. A new benchmark has been set in real estate sales by The Guardians Real Estate Advisory. Grand Kausa City, spans 6,48,323 sq. ft. and has captivated homebuyers with its strategic location, competitive pricing, and exclusive 1% payment plan. The project’s pre-launch efforts saw over 1,500 applications, reflecting strong buyer confidence and the increasing appeal of well-planned developments in emerging micro-markets. A key factor in this success has been The Guardians’ aggressive 360-degree marketing campaign, designed to maximise visibility and engagement. To enhance its market positioning, the project was packaged as Grand Kausa City, and a 25,000-square-foot Dubai-themed experience centre was built to offer potential buyers an immersive preview. Through a wide media mix, including advertisements at 15+ railway stations, 40+ billboards, 80+ bus shelters, branding in 20+ restaurants, over 1,000 branded auto-rickshaws, and distribution of more than 10 lakh leaflets, high visibility was ensured. The project was further enhanced by the appointment of Indian cricket legend Irfan Pathan as its brand ambassador, lending credibility and aspirational value. Beyond traditional marketing, The Guardians leveraged community engagement and digital influence to drive excitement around the project. Mushaira (Urdu poetry recitals) attracted over 20,000 attendees, while sponsorships of local cricket tournaments and a specially composed project rap song further strengthened the project’s cultural connection. On the digital front, collaborations with 30+ influencers generated over 4.3 million views, while the campaign recorded a 1.4 lakh Instagram reach in just 15 days and 10,000+ digital leads from India and the UAE. Located on 24 acres, Grand Kausa City features iconic 33-storey residential towers with luxury 1 and 2-bedroom balcony homes that offer stunning hill and river views. With over 50 lifestyle amenities, the project features a beautifully landscaped podium garden, a 3-level clubhouse with premium facilities, a school, four peaceful prayer halls, a sprawling 4-acre cricket pitch, and a modern shopping centre. A strategic location close to Mumbra Station and an exclusive TMC bus depot make this project even more appealing. Commenting on this record-breaking achievement, Ram Naik, Co-founder & CEO, The Guardians Real Estate Advisory, said, “The phenomenal response to Grand Kausa City showcases our expertise in real estate sales and marketing. Our strategic approach, backed by beneficial economic reforms, has not only unlocked immense value for homebuyers but has also set new industry benchmarks.” Jayesh Rathod, Co-founder & Director, The Guardians Real Estate Advisory, added, “Our marketing innovations and data-driven approach have played a crucial role in this success. Grand Kausa City has emerged as a landmark development, proving the potential of emerging micro-markets and the evolving preferences of homebuyers.” Having completed 50+ projects, delivered 2.5 million sq.ft., and constructed 7 million sq.ft., Yes Central continues to shape the real estate landscape, offering innovative and customer-centric developments. As a result of favourable economic reforms and innovative marketing strategies, Grand Kausa City has attracted an outstanding response from homebuyers. The Guardians Real Estate Advisory has once again succeeded in confirming its position as a market leader in India’s real estate market.

Mumbai, 20th February 2025: Shah Rukh Khan has secured a lease on two luxurious duplex apartments in Mumbai’s elite Pali Hills, Khar West. As per property records on Zapkey.com, the “Jawan” star has signed a three-year rental agreement amounting to Rs 8.67 crore in total, with an annual rent of Rs 2.9 crore. The combined monthly rent for both properties stands at Rs 24.15 lakh. The lease agreements, registered on February 14, required a stamp duty payment of Rs 2.22 lakh and a registration fee of Rs 2,000. These upscale residences are situated in the Puja Casa building, covering the first, second, seventh, and eighth floors. The apartments belong to the Bhagnani family of Bollywood. One of the units, owned by actor-producer Jackky Bhagnani and his sister Deepshikha Deshmukh, has been leased by Shah Rukh Khan at Rs 11.54 lakh per month, with a security deposit of Rs 32.97 lakh for a three-year duration. The second unit, owned by Vashu Bhagnani, has been rented for Rs 12.61 lakh per month, requiring a security deposit of Rs 36 lakh, for the same lease period. Renting premium properties is a common practice in Bollywood. In December 2024, Shraddha Kapoor reportedly rented a high-end apartment in Juhu for Rs 6 lakh per month. This development follows Gauri Khan’s recent application to the Maharashtra Coastal Zone Management Authority (MCZMA) for approval to expand their landmark home, Mannat. The proposed expansion seeks to add two floors to the six-storey annexe behind the bungalow, increasing the total built-up area by 616.02 square meters. On the professional front, Shah Rukh Khan delivered two massive hits in 2023: Jawan and Pathaan. He is now preparing for his next major film, King, directed by Siddharth Anand. The film is speculated to feature Abhishek Bachchan and Suhana Khan.

Mumbai Pune, 20th Feb 2025: Niranjan Hiranandani Group announces its much-awaited foray into Pune real estate market by inking its first ever joint development deal of 105 acres with renowned Krisala developers. The project is located at North Hinjewadi, and will be developed under Integrated township policy, comprising of residential, commercial and retail development. The joint development currently launches Phase I development spanned across 30 acres of land with minimum potential of delivering 3 million square feet of real estate spaces. As part of a joint development deal, the investment in phase 1 development is estimated at approximately Rs 500 crore, with a projected turnover pegged at approximately Rs 2100 crore. The proposed development comprises of apartments, villa plots, branded residences, and recreational amenities to enhance homebuyers holistic living experience. This strategic joint development aims to leverage the strong local expertise of Krisala Developers and the extensive brand experience of the Hiranandani Group. Both organizations are committed to a seamless integration of vision and expertise, covering every aspect from land development and approvals to execution. According to Dr Niranjan Hiranandani, Chairman, Hiranandani Group, “Mega infrastructure projects are establishing crucial last-mile connectivity between Mumbai and Pune, invigorating the dynamic MMR and Pune real estate markets. This connectivity directly addresses the aspirational living demands of migrating talent. Pune’s real estate sector is experiencing robust growth, propelled by its booming IT hubs, outstanding connectivity, and an influx of skilled professionals. The seamless connection between these two major business cities has opened unprecedented opportunities for real estate development. He additionally stated, “The Indian real estate landscape is evolving rapidly, and it’s clear that innovation and strategic collaboration are essential to achieving exponential growth.” Sharing his excitement Mr Aakash Agarwal, Managing Director of Krisala Developers said, “Designed as a self-sustained ecosystem that emphasizes liveability, community well-being. and environmental consciousness, this township aims to offer a home for everyone. The development will cater to first-time homebuyers, second home seekers, investors, and NRIs, ensuring inclusivity and comfort for all demographics. This project differentiates itself through a steadfast commitment to sustainability and scientifically driven urban planning. Our collaborations with renowned energy and resource institutes aim to maintain an air quality index (AQI) of 40, ensuring a healthier living environment for residents.” With its strategic locale, thoughtfully designed spaces, and unparalleled amenities, the township is poised to set a new benchmark for integrated residential real estate developments in Pune, promising a future where sustainability and luxury coexist seamlessly. Corroborated partnerships like this joint venture between the Hiranandani Group and Krisala Developers enable both organizations to capitalize on the flourishing opportunities in today’s bullish real estate market. About Hiranandani Group Founded over 45 years ago, the Hiranandani Group is India’s largest real estate conglomerate, pioneering mixed-use integrated township developments. Since its inception in 1978, the group has set benchmarks across residential, commercial, retail, hospitality, and healthcare sectors, blending excellence, innovation, community well-being, and environmental sustainability. Under the visionary leadership of Dr Niranjan Hiranandani, the group has delivered nearly 48 million square feet of residential and commercial space. Further, to capitalize on the burgeoning real estate industry growth, the group has forayed into emerging asset classes such as Data Centres, Industrial parks, and Logistics parks marking its pan India footprint. About Krisala Developers: With quality, affordability, and tradition as its foundations, Krisala Developers is known for delivering quality homes and innovative construction solutions for over 13 years in Pune. The organization has completed over 2.3 million sq. ft. of construction through various residential and commercial projects, earning trust through transparency and consistency. Pioneering quality construction in the real estate industry, Krisala Developers aims to provide world-class property experiences. For Further media queries, reach out to Pratiksha Lade-8655899958-pratiksha.lade@geckoworldwide.in Ms Ritika – Hiranandani Group- shah.ritika@hiranandani.net Ms Sonali Krisala Developers –sonali.41@krisala.com