The index, which tracks luxury property prices across 46 global cities, placed Seoul (25.2%), Tokyo (16.3%), and Dubai (15.8%) at the top three positions. Bengaluru, with a 10.2% increase, ranked 4th globally, while Delhi made it to 15th with 3.9% growth.

Despite global headwinds slowing prime residential growth to 2.3% annually (down from 3.5% in Q1 2025), Indian cities continued to shine. Analysts attribute Mumbai’s strong performance to infrastructure-led growth, including new metro lines, coastal road projects, and airport expansions, which have boosted investor and end-user confidence in the luxury segment.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said:

“India’s prime residential markets have shown remarkable resilience in a year when global growth momentum has eased. Mumbai’s renewed infrastructure-led appeal, Bengaluru’s tech-driven wealth creation, and Delhi’s steady luxury demand have collectively kept India in the global spotlight.”

Globally, markets are seeing mixed trends. Liam Bailey, Global Head of Research, Knight Frank, noted that while some European cities are showing unexpected resilience, Asia’s top performers are beginning to stabilize.

The report highlights that Indian metros remain long-term wealth stores for domestic and global investors, supported by economic stability, limited prime supply, and sustained wealth creation in urban hubs

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Omaxe Group has announced the launch of ‘The Omaxe State,’ an integrated destination featuring sports, retail, hospitality, food, and cultural facilities. The project, covering 50.4 acres in Dwarka Sector 19-B, New Delhi, is developed in collaboration with the Delhi Development Authority (DDA) under a public-private partnership model, with an investment exceeding ₹2,500 crore.

Features of The Omaxe State

The Omaxe State will include a modern ICC and FIFA-standard cricket-cum-football stadium with a seating capacity of over 30,000 and an indoor multi-sports stadium accommodating 2,000 spectators. The project aims to bring major sporting events back to Delhi and is designed to be a comprehensive venue for various activities.

Comparison to Global Venues

The project draws inspiration from international landmarks such as Queen Elizabeth Olympic Park in London, Accor Arena in Paris, Singapore Sports Hub, and Melbourne Olympic Park. It seeks to transform the sporting and leisure landscape in India, offering a mix of sports, shopping, dining, and entertainment.

Distinctive Features

The Omaxe State will feature five districts: The Sports District, The Shopping District, The Hospitality District, The Food District, and The Social District. The Food District will be the largest of its kind in India, spanning over 500,000 square feet and including various dining options. Additionally, the project will feature India’s first air-conditioned high-street retail area, with 4.2 km of shop fronts and extensive ground-floor retail space.

Other Facilities

The development will include an invite-only sports and leisure club, a 75,000 sq. ft. e-sports arena, and a hotel with 148 rooms. Other amenities include banquet facilities, an event arena, an Olympic-sized swimming pool, and sports facilities for tennis, badminton, squash, basketball, and football.

Also Read: MHADA Reduces Prices for Homes in Mumbai Lottery

Strategic Location and Future Prospects

Located in Sector 19B of Dwarka, the project is close to major attractions like Yashobhoomi, IGI Airport, Bharat Vandana Park, and the upcoming diplomatic enclave. It is also accessible via the Metrolite light rail system. The project, which is expected to be completed by 2027, is projected to generate over ₹4,200 crore in revenue over its lifecycle.

Official Statement

Mohit Goel, Managing Director of Omaxe Group, stated, “With ‘The Omaxe State,’ we aim to provide Delhiites with a high-standard venue for sports, shopping, and entertainment. This development will fill a significant gap in Delhi’s infrastructure and contribute to the city’s growth.”

Project Scope and Development

The Omaxe State will feature modern amenities, including multiple entrances, car drop-offs, over 2,200 ECS, and additional parking with room for future expansion. Developed with input from 24 global consultants, the project is set to establish new standards in urban development.

The post Omaxe Group Launches The Omaxe State with ₹2,500 Crore Investment appeared first on Square Feat India.

Documents accessed by SquareFeatIndia, provided by Zapkey, show that the deal was signed on September 18, this year.

The total consideration for the house is Rs 86 Crore.

The buyer is Laxmi Devi Agarwal wife of Devkinandan Agarwal (Promoters of GR Infraprojects, a listed company with 10,000 cr+ market cap).

So here is the Nehru connection. The sellers had a connection to the first Prime Minister of India, Jawaharlal Nehru. The sellers are Jaideep Singh and Alok Singh (S/o of Late Tarlok Singh- member of planning commission and first private secretary to Jawaharlal Nehru).

A stamp duty of Rs 4.3 Crore was paid for the registration of the deal.

Also Read: Everest Group’s Sanjeev Buys Worli Home For Rs 73.5 Cr

The post This Delhi House was sold for Rs 86 Crore, has a Nehru Connection too appeared first on Square Feat India.

Delhi in the last few months has witnessed several big ticket property transactions and the last big deal once against concerned an educationist.

On August 1. 2022, Aakash Chaudhry of Aakash Educational Services Ltd (now bought by BYJUs) paid ₹137 crore for a bungalow.

The bungalow bought by Aakash is located in the Diplomatic Enclave of Kautilya Marg in Chanakya Puri area of the national capital.

Now Jagdish Chand Chaudhry, of the same Aakash Educational Services Ltd (now bought by BYJUs) on August 12, 2022 paid Rs 51 crore for a property located in Delhi’s Greater Kailash area.

The total area of the property that Jagdish Chand Chaudhry bought measures 836.12 sq mt (1000 sq yards). According to documents accessed SquareFeatIndia provided by Zapkey, a stamp duty of Rs 3.06 crore was paid for the registration of the deal.

The seller is Infinity Buildwell Pvt Ltd. A detailed message sent to JC Chaudhry seeking his comment got us no response.

According to reports, BYJUs recently acquired a majority stake in Aakash Educational Services.

Also Read: Delhi: Aakash Education’s Aakash Chaudhry pays ₹137 crore for a bungalow Mumbai: Citicorp pays ₹137 crore rent for 5 years for an office space

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By Varun Singh

Overall new housing supply in Delhi-NCR went up by 38% on Y-0-Y basis – from 6,750 units in Q1 2021 to nearly 9,300 units as on Q1 2022.

As per ANAROCK Research, individually, Gurugram saw the steepest rise among all NCR cities.

• Gurugram saw maximum launches of 7,890 new units in Q1 2022, comprising whopping 85% share of the total new launches in entire NCR. On yearly basis, Gurgaon saw massive jump of over 158% in new supply – from 3,060 unit in Q1 2021 to 7,890 units in Q1 2022.
• Noida saw new supply of 270 units in Q1 2022 while Greater Noida saw no new launches in Q1 2022. Developers are consciously restricting new supply into the market
• Ghaziabad saw new supply of 220 units. In corresponding quarter of 2021, the city saw no new supply.
• Data indicates that Faridabad, Delhi and Bhiwadi together saw new supply of 920 units in the first quarter of 2022, a 32% drop against Q1 2021.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Residential sales in NCR stood at nearly 18,835 units in Q1 2022 – the second highest after MMR. On yearly basis the sales increased by 124% while as against the previous quarter it increased by 7%. In Q1 2021, housing sales were seen to be nearly 8,790 units across NCR.”

• Data trends suggest housing sales in Gurugram increased by 219% on yearly basis. It stood at 2,775 units in Q1 2021 and approx. 8,850 units in Q1 2022.
• Noida witnessed sales of nearly 2,045 units in Q1 2022 as against just 1,280 units in same period in preceding year – increasing by 60%.
• Likewise, Greater Noida saw its residential sales jump up by 39% on yearly basis. As on Q1 2022, sales were recorded to be 3,450 units against 2,485 units in Q1 2021.
• Ghaziabad saw sales of 2,080 units in the first quarter of 2022 as against 1,390 units in previous year same quarter, a jump of 50%.
• Faridabad, Bhiwadi and Delhi collectively saw sales of nearly 2,410 units in Q1 2022 as against 860 units in Q1 2021 – rising by 180%.

Unsold Inventory

As per data, NCR was the third city only to Chennai and MMR which saw its unsold stock decline (by 9%) during the year – from over 1.68 lakh units in Q1 2021 to close to 1.53 lakh units as on Q1 2022.

• Of the total unsold inventory in NCR, Gurgaon currently has the maximum stock of around 63,870 units which increased by 3% on yearly basis. The rise is largely because of the new added supply.
• Greater Noida is next having more than 31,235 units lying unsold as on Q1 2022-end. However, unlike Gurgaon, Greater Noida was able to reduce its stock by good 20% on yearly basis.
• Ghaziabad saw its unsold stock decline to 18,900 units in Q1 2022 from 23,844 units in Q1 2021. This was a whopping 21% yearly decline.
• Noida has an unsold stock of nearly 13,799 units as on Q1 2022-end as against 16,295 units in same quarter of 2021, thus declining 15%.
• Meanwhile, Delhi, Faridabad and Bhiwadi together have over 24,702 units as on Q1 2022-end. It was 27,157 units in the Q1 2021-end, thereby declining by 9%.\

Also Read: 4 Reasons why NRIs should invest in real estate

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By Varun Singh

Occupiers in India have started opening their doors to employees after a hiatus of two years. Over the last two months, cities like Delhi NCR, Mumbai and Pune have seen employees returning to workplaces at a relatively faster rate. These cities have economically well-diversified commercial markets spanning trading & manufacturing, BFSI, which are contact-intensive services. Moreover, domestic companies have been at the forefront of bringing employees back to offices in a phased manner. Service-oriented markets such as Bengaluru and Hyderabad, which have a strong technology base have also seen a steady return of employees to their workplaces.

The overall market is seeing a surge in workplaces opening in the last few months after the diminishing impact of the third wave of Covid-19, and good vaccination coverage among the eligible population. Beginning March 2022, several technologies and IT companies have started calling employees to the workplace at least two times a week, with most of these majors opting for a hybrid work policy.

Some global companies and MNCs have reopened with a hybrid model of working, but many continue to chalk out their hybrid policies. Overall technology companies are taking more time to develop policies as they continue to work remotely. Indian IT companies have started opening offices in March 2022, with many of the companies planning to return to offices in a phased manner beginning in April 2022. At some companies, the senior management employees are coming into the workplace a few times a week. Consulting companies have also adopted a hybrid work model with employees coming into the workplace 2-3 times a week on a rotational basis.

“Returning to the workplace has been a running theme for the last two years, soon after every wave. However, we are seeing companies opening the office with greater fervour only now. Q2 2022 will be a crucial period as we expect more companies to open up workplaces to their employees through a hybrid model. We have already started seeing companies encouraging in-person team meetings, team huddles and brainstorming meets that were done virtually over the last two years. We are also seeing companies opting for next-gen office spaces that act as centres of collaboration and innovation,” said Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers.

Overall, business sentiments have significantly improved after the third wave of Covid-19 in January 2022. To corroborate the above trend, Colliers studied the key trends emerging from the Google Covid-19 Community Mobility Reports to understand the change in patterns of visits to workplaces across the top six cities. The study showed that Delhi NCR, Mumbai and Pune have seen a steady increase in visits to workplaces, compared to other cities and are almost inching towards pre-pandemic level. Having said that, the traffic has significantly improved across all the cities in the last 2 weeks. (The visit to the workplace is a comparison of visits in March 2022 from a baseline of five weeks between January-February 2020 pre Covid-19).

Companies need to focus on ‘What will employee want in the workplace’

Overall, occupiers are showing a clear preference for next-generation offices. The focus needs to be on building the office for employees wants, which will keep ‘employee experience’ at its core.

Companies can overcome employees’ fatigue to resume office by making the workplace safety compliant. These new-age offices will promote health, safety, protection and wellness through various facets. At the same time, technology will be an important enabler as offices evolve into a space for collaboration, innovation, socializing.

Landlords and developers can also focus on:

a)     High-performance buildings (A high-performance building facilities technology, environment, energy and efficiency parameters to enable greater productivity, health and wellness.)

b)    More space for common amenities

c)     Sustained wellness measures to bring back employees to offices and highlighting the same to tenants

d)    Assisting tenants with renovations to maintain social distancing requirements

There will be immense scope for landlords to upgrade existing facilities. Colliers estimates that landlords and developers have a scope to upgrade around 100 million sq feet of office space in the top six cities, accounting for 14% of the existing stock. Retrofitting of buildings is crucial and can fetch as much 20% increase in rents for developers/landlords. Upgradation should make these offices more attractive to occupiers, leading to a) increased rents and lower vacancy levels, b) high tech buildings and c) sustainability benefits like reduction in carbon emissions.

Also Read: ASSOCIATION OF APARTMENT OWNERS OF NBCC GREEN VIEW DEMAND IMMDIATE REFUND OF THEIR MONEY WITH INTEREST AND COMPENSATION FROM NBCC

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