The total area of the lease property is 4.20 lakh sq ft. According to documents available with SquareFeatIndia, provided by Propstack, the deal started on January 25 this year and will end on January 24, 2028.

The rent per month is Rs 1.79 crore, the rent will esclate by 13.5% after every 12 months. The total tenure of the rental agreement is 60 months.

The project in which the property has been leased is named WTC – Coral, in Bangalore. The total floors are 12 including the ground floor.

Also Read: Butlr Technologies Announces Partnership with Propstack for<br>Occupancy Sensing in India

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The previous leave and license agreement was executed between Apple and Executive Centre India in 2019. According to documents provided to SquareFeatIndia by Propstack the renewal of the leave and licnese agreement was signed on July 27, 2022, the commencement date of the agreement was July 1, 2022.

The leased out premises is an office space located on the 3rd and 4th floor of the building Safina Towers, Bangalore. Along with the office space Apple will also have an access to 30 car parks in the building. The license fee that Apple will be paying is Rs 1.42 crore per month, with a rent escalation of 5 per cent first after the completion of the 16 months and then after every 12 months.

The security deposit paid for the leave and license agreement is Rs 4.58 crore. The agreement can be renewed for a period of three years after the expiry of this agreement. The lock-in period of the agreement is 16 months.

“This transaction indicates Apple’s increasing presence in India. The need for office space, despite work for home policies post COVID, was inevitable due to the shift of manufacturing activities into India. It is safe to predict that Apple will continue to increase its footprint in India,” said Raja Seetharaman co-founder of Propstack

Also Read: Bajaj Family Members and Trust buys apartments for Rs 103.73 Crore

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TVS is a household name in the country, and has ventured into several sphere of business’ most popular being their motor business.

However, today we are going to discuss not about the TVS group but about a realty deal that involved the member of the founding family of TVS.

According to the documents provided to SquareFeatIndia by Zapkey.com on November 11, 2022, sellers Kaveri Warriar, Vijay Warriar, Sudha Thimmaiah, Radha Thimmaiah, BG , Thimmaiah, K A Thimmaiah sold the property to buyer Gopal Srinivasan represented by TA Prasssana.

The deal was signed for ₹14.49 crore. Gopal Srinivasan is the Founder, Chairman and Managing Director of TVS Capital Fund and a third-generation member of the TVS Family which owns TVS Motors, TVS Electronics, Sundaram Fasteners, etc.

According to the documents the areas of the property is 2600 sq ft built up area, 6336 sq ft plot area.

The property includes all that piece and parcel of the Premises bearing Municipal No. 8, Rest House Crescent Road, Bangalore together with dwelling house, out houses, garage and other construction with a built up area of 2600 sq ft (241.54 sq mtrs), including the equal right and interest in the compound wall on the East and also half indivisible right in the main building wall on the east being common with property bearing Municipal No. 4 (new Municipal No. 7), Rest House Crescent Road, Bangalore in all measuring 6336 sq ft (588.63 sq mtrs.)

Also Read: Microsoft pays Rs 328 Cr for 1 lac Sq Mt land in Pune

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The company has chalked out an aggressive expansion plan as the coliving segment has started to recover from the disruptions caused by the COVID-19 pandemic.

“We are witnessing a surge in demand for managed rented homes from working professionals. Most of these employees are working on a hybrid model and they need quality space for living and work purposes,” Settl. Co- founder Abhishek Tripathi said.

Started in 2020, the company currently has 2,000 beds across 40 properties in the three cities. As per the expansion plans, Settl. aims to touch 4,000 beds by June next year. It plans to add at least 1,000 beds in the National Capital Region (NCR) alone.

“We take properties from builders and asset owners on long term lease and then sub-lease the space to working professionals,” Tripathi said.

Each of its facilities provide a high-quality mix of co-living, community-living and coworking solutions to the working professionals.      

“We are currently present in 3 cities and we want to expand to 3 new cities including Delhi and Noida by June 2023,” Tripathi said.

“We sell beds in a price range of Rs 11,000 per month to Rs 18,000 per month, depending on city to city, location and available facilities. About 80-90% of our occupants are working professionals between the age group of 25-35 years,” he added.

In view of the pandemic, the demand for individual rooms has increased as working professionals want privacy and hygiene.      

It plans to raise further funds to expand and grow the business and has started a preliminary round of discussions with potential investors.

Also Read: Amazon leases 2.3Lac Sq Ft for 258 months at a rental of Rs 3.57 Crore per month

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By Varun Singh

Mumbai Metropolitan Region (MMR) sold a total of 18,012 units in the last quarter of the financial year 2020-21.

While almost all the areas in MMR witnessed a growth in sales, one specific area sold maximum number of units.

MMR as per a report of Liases Foras a real estate research firm is divided in eight zones or areas.

They are Island city, Central suburbs, Western suburbs, Thane, Navi Mumbai, Central suburbs extended, Western suburbs extended, and Panvel.

In Q4 2020-21 Island city saw a sales of 631 units, at the same time, Central suburbs saw a sales of 2,193 units and Western suburbs witnessed 2,951 sales.

Thane saw sales of 2,128 units, New Mumbai had 1,885 sales, Western Suburbs extended saw a total sales of 2,007 units, while Panvel witnessed a sales of 539 units.

The most number of sales in entire MMR was registered in Central suburbs extended, a total of 5,678 units.

In terms of unsold stocks Central suburbs extended has the highest number of unsold stocks in MMR. Central suburbs extended has a total of 77,095 unsold units.

Island city has 16,673 units, Western suburbs has 43,735 unsold units, Central suburbs has 48,521 unsold units. Thane, New Mumbai, Western extended sububrs and Panvel has 27,520, 18,511, 40,182 and 14,755 unsold units respectively.

QoQ
• Sales increased Central Suburb by 54%, followed by western
suburb (53%), Thane (51%), Island City (35%), and Centra
Suburb Extended (17%).
• Sales decreased in Panvel by 19%, followed by Western Suburb
Extended (-9%).
• Unsold stock reduced 7% in New Mumbai, followed by Thane
(5%), Central Suburb Extended (3%), and Panvel (2%).
• The unsold stock increased in Western Suburb (4%) and 3%
each in Central Suburb and Western Suburb Extended.

YoY
• Sales increased maximum in Western Suburb (38%) and Central
Suburb (30%) followed by Thane (16%) while it decreased
maximum in Panvel by 38% and Western Suburb Extended by
15%.

Overall India, the eight major cities saw a sales of 69,697 units in the last quarter of 2020-21. Here MMR recorded the highest sales with 18,012 units, while Pune followed with sales of 12,950 units.

Ahmedabad recorded 6,990 sales, Bangalore saw 9,997 sales,Chennai recorded 3,621 sales, Hyderabad saw a total of 5,943 sales, Kolkata saw 3,054 sales, while NCR recorded a total of 9,130 sales.

QoQ
• Tier I cities had recorded sales of 69,697 units in the Mar quarter (Q4 FY 20-21) which is a 32% growth compared to last quarter when the sales were 52,727 units.
• Sales across the Tier I cities have increased by 32%, with all cities showcasing an upward movement.
• Sales witnessed maximum recovery in Bangalore by 72%, followed by NCR (46%), Chennai (40%), Hyderabad (33%), Pune (30%), MMR (20%), and Kolkata (16%).
• Sales increased minimum in Ahmedabad by15%

YoY
• Overall sales across tier I cities increased by 9%.
• Sales in Chennai witnessed maximum growth of 31% on YoY, followed by Pune (24%), Bangalore (19%), Hyderabad (18%), and MMR(7%).
• NCR witnessed the maximum decline (8%), Ahmedabad (7%), and Kolkata (2%).

Also Read: MMR Homebuyers Prefer Smaller Homes: Report

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By Varun Singh

Good News for Real Estate Sector, of the total 2.61 lakh housing sales seen in 2019 across the top 7 cities, over 56% (or approx. 1.47 lakh units) were sold in the first half itself, finds the latest study by ANAROCK Property Consultants. On half-yearly comparison, residential sales in H2 2019 plummeted 22% against H1 2019 while on yearly basis there was a marginal rise of 5% in entire 2019 compared to 2018.

On the supply front, of the total 2.37 lakh units launched in 2019, H2 saw new addition of over 97,000 units as against 1.4 lakh units in the first half, thus seeing a half-yearly decline of 30%. However, on yearly basis, there was a 21% rise in new supply in 2019 over 2018. 

Segment-wise analyses reveals that affordable housing continued its growth momentum yet again in 2019 with overall new supply rising by 22% – from 77,590 units in 2018 to nearly 94,530 units in 2019. Of this, 54,660 units were launched in the first half alone.

The economic challenges of 2019 widely eclipsed overall residential growth during the second half of the year. However, both housing sales and new launches increased in 2019 as compared to the preceding year. Stronger branded players were the clear winners and took charge amidst the changing preferences of new-age homebuyers towards branded realty.

Expert Speaks

Anuj Puri, Chairman – ANAROCK Property Consultants says, “The unrelentingliquidity crisis, lower-than-expected buyer sentiments and faltering GDP growth eventually put brakes on the overall housing growth in the second half of 2019. However, among the top cities, MMR and Pune were clearly the showstoppers of residential real estate in 2019 as they recorded housing sales rise of 22% and 18% respectively, leaving Bangalore (which saw sales fall 12% yearly) far behind. Both top cities collectively saw residential sales of nearly 1.22 lakh units as against 78,860 units in all south cities (Bangalore, Chennai and Hyderabad) and 46,920 units in NCR in the north. In terms of new launch supply too, MMR and Pune came out on top in 2019 with annual increases of 30% and 89% respectively. Among the top 7 cities, MMR saw maximum new launches during the year at 78,000 units while Pune was second best at over 46,100 units.

“Residential growth in 2020 will mainly depend on the swift on-ground implementation of some of the previously-announced sops including stressed funds (of INR 25,000 Crore). If not, it may negatively impact the sector with buyer sentiments derailing even further. And if done timely, these measures will yield positive impact on the Indian real estate in 2020. A major part of the residential growth will most likely unfold in the second half of 2020. And, the financially stronger players will stay ahead in the game.”

2019 vs 2018: New Launch Overview

The top 7 cities recorded new unit launches of approx. 2,36,560 units in 2019 as against 1,95,300 units back in 2018. The key cities contributing to 2019 new unit launches included MMR (Mumbai Metropolitan Region), Pune, NCR, and Bengaluru, altogether accounting for 84% of addition.

2019 vs 2018: Residential Sales Overview

Around 2,61,370 units were sold in 2019 – yearly increase of 5% over 2018. NCR, MMR, Bengaluru and Pune together accounted for 84% of the sales.

Unsold Inventory – 2019 vs 2018

Increase in new launches and overall absorption in the top 7 cities during 2019 when compared to 2018 resulted in overall unsold inventory decreasing by a meagre 4% – from 6.73 lakh units in 2018 to 6.48 lakh units by 2019.

Price Movements

Average residential property prices across the top cities increased by mere 1% in 2019 when compared to 2018 except Kolkata & NCR where prices remained stagnant.

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