Apple Noida lease, SRK’s Dubai tower sold out & Birla deal
SRK Dubai tower, Hrithik family leases, Apple Noida store, Birla Gurugram sellout, Brookfield Mumbai GCC and luxury property deals.
1. Shah Rukh Khan launches 55-storey Dubai tower named after him at an event, builder says ‘sold out’
- Shahrukhz by Danube spans over 1 mn sq ft, with 488 units starting at AED 2 mn each
- Developed by Danube Group, the tower has sold out for over ₹5,000 crore and construction is scheduled for completion in 2029
- Shah Rukh Khan launched ‘Shahrukhz’, a 55-storey commercial tower on Sheikh Zayed Road, Dubai, at mega event attended by 6k+ people
- The tower will feature a statue of Shah Rukh Khan in his iconic arms-outstretched pose at the entrance
2. Hrithik Roshan’s parents lease commercial space in Mumbai for ₹14.5 lakh per month
- The property spans 6,390 sq ft along with 5 car parking slots with a starting rent of ₹14.5 lakh translating to ₹227/sq ft/month
- The lease includes slab-based rental escalation: ₹14.5 lakh (Year 1), ₹15 lakh (Year 2), ₹16 lakh (Year 3), and ₹18.4 lakh (Years 4 & 5)
- The lease term is five years, with Fabindia having a 15-month lock-in, while the lessors have a full five-year lock-in
- The leased property located in in De Mall, Andheri West has been leased to Fabindia Limited
3. Apple’s first Noida store at DLF Mall of India has been leased for 11 years at ₹65 cr
- This outlet is Apple’s fifth retail store in India and the second in the Delhi NCR region, after Apple Saket
- The rent has been set at ₹263.15 per sq ft per month, with the lease including a one-year rent-free period
- The outlet spans 8,240 sq ft & has leased six ground-floor units in DLF Mall of India to create the combined retail space
- The Noida store is part of Apple’s ongoing retail expansion, which began in 2023 with Apple BKC & Apple Saket
4. JLL leases office space for ₹64 lakh monthly rent in Hyderabad
- The rent is set at ₹53 per sq ft per month, with CAM charges at ₹13 per sq ft and includes a 15% escalation every three years
- The lease covers 5th & 6th floors of the Sky One building, located in Gandipet Mandal, Ranga Reddy District
- The transaction includes 134 parking spaces, and the company can lease additional parking slots for ₹2,000 each/month
- JLL (Jones Lang LaSalle) has leased 1.2 lakh sq ft of office space in Prestige Skytech
5. Birla Estates sells entire luxury homes for ₹1,800 cr in new Gurugram project
- This is Birla’s 3rd project in Gurugram after Birla Navya in Sector 63A and Birla Arika in Sector 31
- Birla Pravaah is spread across 5.075 acres & has configurations of 3BHK and 3BHK plus utility residences of 1,358 sq ft and 1,722 sq ft
- The project, named Birla Pravaah, is located in Sector 71, Gurugram and comes with over 30 amenities and 70% open space
- Birla Estates has sold 492 luxury apartments for over ₹1,800 cr within 24 hours of launch
6. Santacruz West bungalow sells for ₹164 cr in a major luxury deal
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The property, known as Dwarka Bungalow, sits on Linking Road in Santacruz West, Mumbai.
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The buyer, ZYJ Estates LLP, is a developer currently executing the Sequoia project on 16th Road, Santacruz West.
- This prime property will be redeveloped into luxury apartments and add to the list of vintage properties in Bandra-Khar-Santacruz which have gone this route
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The bungalow spans 1,267 sq m (≈13,629 sq ft) of land and includes a ground-plus-one structure, a garage, and sheds.
7. Brookfield to invest over ₹9000 cr to build Asia’s largest GCC in Mumbai’s Powai
- Maharashtra CM Devendra Fadnavis said the investment will exceed $1 bn and generate 45,000 jobs
- The project will span around 2 mn sq ft, making it one of Asia’s largest GCC developments
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The developer is building the GCC for a multinational bank under a long-term 20-year lease agreement.
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The six-acre Powai project will offer 20 lakh sq ft of lettable space and target completion by 2029.
8. Auro Realty acquires Hyderabad’s landmark Hotel Taj Banjara property for ₹315 cr
- The property, owned by Hotel Banjara Limited, spans 16,645 sq yards in the upscale Banjara Hills locality
- The site includes a built-up area of 1.2 lakh sq ft, located in one of Hyderabad’s most premium commercial and tech corridors
- Auro Realty is the real estate development arm of the Aurobindo Group, which also owns Aurobindo Pharma
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GHMC sealed the Taj Banjara Hotel earlier this year over two years of unpaid taxes and later reopened it after a partial payment.
9. Indian property developer RMZ said to weigh $1 bn IPO
- RMZ Corp., one of India’s largest real estate developers, is reportedly exploring a potential IPO that could raise up to $1 billion
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The company expects to launch the IPO next year, although it has yet to appoint advisers and finalise key details.
- If completed, it would be India’s largest real estate IPO since DLF’s $1 billion issue in 2007
- RMZ owned by brothers Raj and Manoj Menda and their family operates across offices, retail, hospitality &digital infrastructure, competing with DLF and major REITs
10. Urban Vault leases 21k sq ft office spaces to 3 Japanese firms in Bengaluru
- The company manages over 2.8 mn sq ft of space, with 70k+ seats across 80+ locations & recorded a ₹120 cr turnover in FY 2024–25
- Urban Vault provides workspace solutions to more than 50 GCCs across key Indian cities, including Bengaluru, Pune & Gurugram
- Urban Vault has leased office space to Japanese firms Nachi, Pioneer & Komatsu for setting up Global Capability Centres (GCCs)
- Since its inception in 2018, the company has grown from 40 seats to more than 70,000 seats across its network
Conclusion
India’s real estate sector continues to show strong momentum across residential, commercial, and mixed-use segments. Celebrity-backed launches, luxury home redevelopments, global corporate expansions, and record-setting leases reflect rising confidence in key urban markets. With developers, REITs, multinational firms, and high-net-worth buyers actively deploying capital, the property market remains well-positioned for sustained long-term growth.
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Weekly Real Estate News Tracker- 22 April 2023
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