Raymond’s ₹14,000 Cr push, Lavasa auction, JP Morgan’s big bet
June 30, 2025
From MHADA’s ₹4,500 cr GTB Nagar project to JP Morgan’s ₹7 cr lease and DLF’s Mumbai launch, this week real estate buzzed with action.
1. MHADA appoints Keystone Realtors to redevelop 25 buildings in GTB Nagar
- Keystone Realtors received the letter of acceptance for the redevelopment of 25 buildings of Sindhi refugees
- Spread approx. 11.19 acres, this redevelopment will benefit over 1,400 families
- It is expected to unlock a saleable area of approx 20.7 lakh sq ft, with an estimated gross development value of ₹4,521 cr
- Constructed in 1958 for post-independence migrants, the buildings were declared unsafe and demolished by the BMC
2. Lavasa Corporation Gets Takeover Bids Ranging ₹500 –850 Cr
- India’s first private hill town project, has received 6 takeover bids as creditors try to sell the debt-laden entity for a 2nd time
- The Welspun placed the highest bid of ₹850 cr, including ₹150 cr of process costs
- Other bidders include Pune based developers Ashdan and Pride Purple, Lodha Developers, Jindal Steel and Power Group, and more
- Ashdan and Pride Purple placed a combined bid aggregating to ₹843 cr
3. JP Morgan leases 1.16 lakh sq ft in Sumitomo’s BKC Tower at ₹7 cr monthly rent
- US-based financial services major JP Morgan Private Limited has pre-leased 1.16 lakh sq ft in a commercial tower
- The long-term lease spans over 10 years and covers the 11th and 12th floors, each measuring 58,105 sq ft
- The agreement specifies a starting monthly rent of ₹6.91 cr, translating to ₹595 per sq ft
- The Grade-A commercial building comprises 6 basements, a ground floor, 12 office floors, and a terrace
4. DLF aims ₹2,500 cr sales from new housing project in Mumbai
- DLF Ltd plans to launch a luxury housing project in the city worth about ₹2,500 cr in the next 2 weeks
- DLF will launch more than 400 homes in the first phase of its upcoming project
- DLF plans to sell these apartments in a price range of ₹ 5-7 cr per unit
- The company launched and completely sold the DLF Privana North housing project in Gurugram, comprising 1,164 units
5. Raymond Realty to launch ₹14,000 cr projects
- Raymond Realty will launch 6 residential projects this fiscal in the Mumbai Metropolitan Region with an estimated revenue potential of about ₹14,000 cr
- The company will offer housing units in a price range of ₹2 cr to ₹20 cr in the upcoming projects
- Raymond Realty CEO Harmohan Sahni announced that the company will get listed on stock exchanges, post demerger of the real estate vertical from Raymond Ltd, which will now focus on just the engineering vertical
6. Mumbai’s richest have to save for 109 years to buy a house
- Startling new data reveals that the top 5% of earners in the state would need to save for 109 years to afford an average-sized house in the city
- The report compares the cost of a standard 1,184 sq ft home against the annual savings of the top 5% earning households
- In Gurgaon, the top 5% of earners would still require 64 years of savings to purchase the same property
- Chandigarh emerges as India’s most affordable capital by this metric, where just 15 years of savings would suffice for the same property
7. Housing sales fall 19%, supply drops 30% YoY
- On a city-wise basis, Mumbai and Thane observed the sharpest fall in housing sales at 34% each, to 8,006 units and 14,832 units, respectively
- Delhi-NCR (at 16%) and Chennai (at 9%) were the only 2 cities that saw a rise in sales in April-June of 2025 on a YoY basis
- Similarly, housing supply fell in 6 out of the 9 cities with Mumbai recording the sharpest fall at 61%, reaching 4,949 units
- Delhi-NCR, Hyderabad, and Chennai saw a rise in the period under review, to 13,823 units, 10,544 units, and 6,463 units respectively
8. Bharti Real Estate targets ₹ 6,000 cr annual rental income from its Worldmark properties
- Bharti Real Estate, the property arm of Bharti Enterprises, is looking at a rental income of over ₹ 6,000 cr a year from its commercial property, Worldmark in Aerocity
- The company is developing the 17-mn sq ft property in phases
- As part of Worldmark 2.0, about 3.5 mn sq ft of office property will be completed by the end of this year
- The company is planning to invest ₹ 20,000 cr to develop the entire portfolio
9. Adani, 4 others submit ₹10k-11k cr bids for Jaiprakash Associates
- 5 companies have submitted resolution plans for Jaiprakash Associates Ltd, the flagship company of the beleaguered Jaypee group
- Baba Ramdev-led Patanjali Ayurved did not submit the resolution plan after showing initial interest
- JAL was admitted into the Corporate Insolvency Resolution Process
- Resolution plan of Jaypee Infratech Ltd may get rejected as it has not fulfilled certain criteria
10. Narayana Hrudayalaya expands footprint with ₹246 cr land acquisition
- Narayana Hrudayalaya Limited has acquired prime land parcels worth ₹246 cr along Bannerghatta Main Road in Bengaluru
- The largest transaction was a ₹177 cr deal with Kelachandra Veneer Industries, represented by Thomas Markose and Neelu Markose, for a 93,500 sq ft plot
- Narayana Hrudayalaya also acquired 17,424 sq ft of land in Hulimavu from Neelu Markose for ₹33 cr
- The 3rd transaction involved the purchase of 18,513 sq ft from Thomas Markose for ₹35.17 cr
11. Global firms Hines, Sumitomo form joint venture for Mumbai luxury condo project
- US-based global developer Hines & Japan’s Sumitomo Corp. entered into a joint venture for a luxury condominium project
- The project is a 3.4-acre lake-facing gated community, with six 20-storey towers comprising 321 units
- Both parties entered into an alliance to develop a commercial office project with a total investment of over ₹3,000 cr
- Besides this, Hines also has an ongoing 1 mn sq. ft office in suburban Mumbai’s Borivali area
12. Private equity inflows into Indian real estate dip 41%
- Private equity inflows into Indian real estate fell 41% in 2025, mainly due to reduced participation from Western investors
- Global uncertainty and cautious sentiment led to a slowdown in foreign capital deployment
- Commercial real estate was the most impacted segment in terms of reduced funding
- Domestic investors are stepping up, while niche sectors like data centers and logistics continue attracting interest
13. Mahindra Lifespaces to redevelop Mulund West project worth ₹1,250 cr
- The real estate and infrastructure development arm of the Mahindra Group, has been appointed for redevelopment of a St. Pius Ten CHS society in Mulund, Mumbai.
- The project spans across a 3.08-acre land parcel and has an estimated development value of approximately ₹1,250 cr
- The company recently launched Mahindra ‘Codename64’, a residential development in Malad
- The project will offer 2BHK and 3BHK residences
14. TCS plans over ₹4, 500 cr realty expansion across India
- Tata Consultancy Services has earmarked more than ₹4,500 cr for developing long-term infrastructure as part of a major expansion initiative across India
- TCS acquired 1.6 mn sq ft from Sattva—Darshita Southern India Happy Homes for ₹2,250 cr, and an additional 3.2 mn sq ft from TRIL for ₹1,625 cr
- TCS also leased 800,00 sq ft at 360 Degrees Business Park in Electronic City
Conclusion
From major redevelopments and billion-rupee housing launches to global firms entering JV deals, India’s real estate is scaling on every front.
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