Latest news with #AbhishekKiranGupta
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Business Standard
3 days ago
- Automotive
- Business Standard
Tesla bets big on NCR: ₹40 lakh/monthly lease inked in Gurugram for 9 years
Global electric vehicle giant Tesla has inked a nine-year lease for a 33,475 sq ft facility at Orchid Business Park on Sohna Road, Gurugram. The leased space will house Tesla's first integrated service centre, delivery hub, and customer-facing retail store in the Delhi-NCR region. The lease agreement, registered on July 28, was signed between Tesla India Motors and Energy Pvt Ltd and three lessors—Garwal Properties Pvt Ltd, Orchid Infrastructure Developers Pvt Ltd, and Suncity Real Estate LLP, show lease documents accessed by real estate consultancy firm CRE Matrix. The lease became effective from July 15. According to lease documents accessed by real estate analytics platform CRE Matrix, Tesla has paid a security deposit of ₹2.41 crore for the property and agreed to a monthly rent of ₹40.17 lakh. The agreement comes with a three-year lock-in period, and rent will escalate annually by 4.75%. The chosen location, Sohna Road, is widely recognised as the automobile servicing hub of NCR, housing high-end service centres and showrooms of luxury automakers. The leased space spans a super built-up area of 50,914 sq ft, with a usable ground floor area of 33,475 sq ft, and will be delivered in warm shell condition, allowing Tesla to customize the interiors and fit-outs in line with its global retail model. The facility is fully approved for commercial operations, with all valid permits and occupancy certificates in place. According to the lease documentation, the premises are free of legal encumbrances and backed by ready infrastructure and utilities. 'This move signals a major boost to Gurugram's commercial and automobile landscape,' said Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix and 'Tesla's Sohna Road location comes at a 6% rental premium over the market average, which highlights both the company's strategic intent and the location's appeal. Gurugram offers a skilled talent pool for high-end automotive services, making it an ideal destination.' Tesla's Multi-City Expansion in India Gains Momentum Tesla's NCR debut comes soon after its retail foray in Mumbai, where the EV maker opened a flagship outlet in the Bandra-Kurla Complex (BKC). In May 2025, the company also leased 24,565 sq ft at Lodha Logistics Park in Kurla West, Mumbai, to be used as a service centre. The five-year lease in Mumbai comes with a starting monthly rent of ₹37.53 lakh, translating to a total lease value of over ₹24 crore. The EV major also maintains a 30-seater office in a co-working facility in Kurla and pays a record ₹881 per sq ft for its premium retail outlet in Maker Maxity, BKC—making it one of the most expensive commercial leases in India's auto retail space. Elsewhere in India, Tesla has been actively expanding its physical footprint. The company leased 5,850 sq ft of office space in Pune in 2024 and has also secured showroom space in Delhi, reinforcing its commitment to a broad-based rollout across key Indian metros.
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Business Standard
31-07-2025
- Business
- Business Standard
Housing sales volume down 5% in top 8 cities; up 9% in value: Credai
Housing sales fell 5 per cent to 2.53 lakh units during the first six months of this year but increased 9 per cent in value terms to Rs 3.59 lakh crore across eight major cities, according to a Credai and CRE Matrix report. On Thursday, realtors' apex body Credai and data analytics firm CRE Matrix released a report on primary housing markets of India's top eight cities -- Bengaluru, Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Kolkata, Chennai, Hyderabad and Ahmedabad. As per the data, the housing sales in these eight cities declined 5 per cent to 2,53,119 units during January-June 2025 from 2,67,219 units in the year-ago period. Appreciation in prices of residential properties led to an increase of 9 per cent in sales in value terms to Rs 3,59,373 crore in the first half of 2025 from Rs 3,30,750 crore in the corresponding period of the preceding year. "We are witnessing a decisive shift in homebuyer preferences across India. The demand is clearly moving towards larger, better-located, and more premium homes reflecting rising aspirations and improved purchasing power," Credai National President Shekhar Patel said. "A 21 per cent growth in NCR's housing value, despite lower volumes, is a clear indicator that quality and location are now more important than quantity," he added. Abhishek Kiran Gupta, CEO & Co-Founder of CRE Matrix, said, the Tier 1 housing markets have entered a new phase of value-driven growth. He noted that there has been a 14 per cent rise in average ticket size to Rs 1.42 crore from Rs 1.24 crore during the period under review. "As data suggests, India's residential real estate story is no longer just about quantity - it's about quality, confidence, and lifestyle," Gupta said. The data showed that Delhi-NCR's market share in value terms has increased to 26 per cent from 23 per cent during the period under review. Gurugram-based property consultant InfraMantra founder Shiwang Suraj noted that Gurugram and Noida markets have dominated the luxury housing sales in Delhi-NCR. "The region's growing lifestyle aspiration, massive infrastructure development and demand for bigger homes have led to this surge in luxury housing," he added. Bhavesh Kothari, Founder & CEO of Property First Realty LLP, said the housing market is witnessing "premiumisation" across major cities. He noted that Bengaluru's real estate market has grown multifold over the last decade and generated high capital appreciation and rental yields for property owners.
Hindustan Times
24-07-2025
- Business
- Hindustan Times
Here's why sales of Mumbai's luxury apartments priced above ₹40 crore have softened in H1 2025
While the Mumbai real estate market has reported several blockbuster deals in the luxury apartments segment post-COVID-19 pandemic, sales of apartments priced above ₹40 crore have softened in the first half of 2025 compared to the last two years, according to data from India Sotheby's International Realty and CRE Matrix. Mumbai real estate update: While the city has reported several blockbuster deals in the luxury apartments segment post-COVID-19 pandemic, sales of apartments priced above ₹ 40 crore have softened in H1 2025. (Picture for representational purposes only)(Pexels) According to data, nearly 35 units priced above ₹40 crore were sold in the first half of 2025, a slight dip from 38 units sold during the same period in 2024, and 50 units in H1 2023. In contrast, the second half of 2024 saw a surge, with 53 units sold in this segment, compared to just 16 in H2 2023. In calendar year 2022, 17 units were sold in the first half and 19 in the second half, indicating a steady rise in ultra-luxury home transactions over the years until the recent moderation. Sales of homes priced between ₹ 10 crore and ₹ 40 crore increase While sales in the above ₹40 crore units have softened a bit in the last year, the data indicates that sales for units in the price range of ₹10 crore to ₹20 crore and ₹20 crore to ₹40 crore have grown constantly. In the calendar year of 2022, 465 units were sold in the ₹10 crore to ₹40 crore range, which went up to 591 units in 2023 and 788 units in 2024. According to the data, 466 units were sold in the ₹10 crore to ₹40 crore price range in the first half of 2025. The data shows that several areas, such as Prabhadevi, Worli, Byculla, Tardeo, Bandra West, and Lower Parel, contribute to sales of luxury apartments above ₹10 crore in the Mumbai real estate market. Also Read: Mumbai luxury housing sales up 11% in H1 2025, driven by HNIs and lifestyle upgraders Is there a slowdown in the ₹ 40 crore+ luxury apartment segment? According to experts, there are signs of a slowdown in the ₹40 crore and above luxury housing segment. However, they expect sales to remain stable or only slightly dip over the next two years. Sales in this segment surged significantly post-COVID-19, but the market now appears to be stabilising as demand levels off following years of activity. "In the ₹40 crore-plus luxury housing segment, Mumbai's High Net Worth Individuals (HNIs), many of whom have built fortunes in stocks, startup sale, gold, silver, cryptocurrency, etc, have already made their move over the last five years, settling into high-end residences. Around five or ten years ago, the supply of ₹40 crore-plus luxury homes was much less than what it is today," said Abhishek Kiran Gupta, co-founder and CEO, CRE Matrix. Also Read: Housing sales drop by 19% across nine cities, and supply dips by 30%.; Mumbai sees steepest decline: Report 'We have seen a bullish run in ultra-luxury homes, but considering the upcoming supply in the above ₹40 crore-plus luxury housing segment, I anticipate that demand will either flatten or dip slightly in this segment over the next two years, but a major decline or spike seems unlikely,' Gupta said. "Across Mumbai, we might witness a natural correction, perhaps a 10% softening at a project level, not a location level. One should not expect any drastic collapse in prices. Homebuyers will be spoilt for choice if they are flexible in their expectations. After all, real estate, like every other sector, is cyclical and moves in cycles," Gupta said. Also Read: Lloyds Group's promoter family buys six ultra-luxury apartments in Mumbai's Altamount Road for ₹227 crore Property deals in the above ₹ 40 crore segment in Mumbai In the last three years, several corporate honchos bought properties in the Mumbai real estate market. These included Nadir Godrej of Godrej Industries, the promoter of the wires and cables manufacturer RR Kabel Ltd, and Shreegopal Kabra, among others. Also Read: Year Ender 2024: 5 corporate leaders who invested in the Mumbai real estate market This includes well-known Polyester's CMD buying two luxury apartments in Mumbai's Worli for ₹270 crore, RR Kabel's Shreegopal Kabra and family purchasing two apartments for ₹198 crore in Mumbai's Worli and Nadir Godrej purchasing three apartments for ₹180 crore in South Mumbai. Two months ago, Leena Gandhi Tewari, chairperson of pharmaceutical giant USV, bought two ultra-luxury, sea-facing duplex apartments in the Worli area for over ₹700 crore at close to ₹3 lakh per sq ft, setting a national record. Seema Singh, wife of Alkem Laboratories promoter Mritunjay Kumar Singh, purchased a premium residence for ₹185 crore around three months ago in Worli, Mumbai, among others.
Hans India
23-07-2025
- Business
- Hans India
Record Rs 14,750 crore worth luxury homes sold in Mumbai in 2025 first half
Mumbai: Mumbai's luxury real estate market (Rs 10 crore and above) has set a new benchmark in the first half of 2025, recording the highest-ever half-yearly sales of Rs 14,750 crore across primary and secondary transactions, a report showed on Tuesday. This is an 11 per cent increase in luxury housing sales during H1 2025 compared to Rs 12,300 crore in H1 2024. The overall luxury real estate market hit an all-time high, with a record Rs 28,750 crore in sales value recorded between H2 2024 and H1 2025, according to the report by India Sotheby's International Realty and CRE Matrix. The surge in luxury sales reflects strong momentum in residential demand, driven by rising wealth, investor confidence, and the growing purchasing power of high-net-worth individuals. 'Mumbai's luxury real estate market is at a pivotal moment. Record sales in H1 2025 signal sustained appetite for ultra-premium homes, especially in established micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West — driven by better infrastructure and a spate of high-quality new launches,' said Sudershan Sharma, Executive Director, India Sotheby's International Realty. The primary market accounted for nearly three-quarters of sales volume, while the secondary market contributed Rs 3,750 crore, both at their highest in five years. Worli retained its lead as the most preferred luxury destination, contributing 22 per cent of primary sales value. Other thriving micro-markets included Bandra West (192 per cent growth), Tardeo (254 per cent growth), Prabhadevi, and Malabar Hill. 'The 45–65-year age group remained the largest segment of buyers, while those above 65 years grew to 15 per cent of sales. Apartments between 2,000–4,000 square feet dominated, representing 70 per cent of primary sales, the report mentioned. 'During this period, 1,335 luxury units were sold, the highest for any 12-month stretch. The steady rise, particularly in the Rs 20-Rs 40 crore segment, points to sustained buyer interest and a confident, though increasingly selective, high-end luxury buyer,' said Abhishek Kiran Gupta, Co-founder and CEO, CRE Matrix.
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Business Standard
22-07-2025
- Business
- Business Standard
Mumbai ultra-luxury home sales jumps 20% in H1 to record ₹14,751 cr: Report
Sales of ultra-luxury homes, each costing Rs 10 crore and above, in Mumbai rose 20 per cent in January-June this year to a record Rs 14,751 crore on strong demand, according to a report. Property consultant India Sotheby's International Realty (ISIR) and data analytics firm CRE Matrix on Tuesday released a report on Mumbai luxury housing market (both primary and secondary). As per the data, the sales of luxury homes (Rs 10 crore and above) in Mumbai in value terms, increased 20 per cent to Rs 14,751 crore in the first six months of this year, from Rs 12,285 crore in the corresponding period of the preceding year. In terms of volume, sales of ultra-luxury homes rose 11 per cent to 692 units in January-June period this year, from 622 units in the year-ago period. "Mumbai's luxury real estate market is at a pivotal moment. Record sales in H1 2025 signal sustained appetite for ultra-premium homes, especially in established micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West," ISIR Executive Director Sudershan Sharma said. The high demand is driven by better infrastructure and fresh supply of luxury homes, he added. CRE Matrix founder & CEO Abhishek Kiran Gupta noted that there is a sustained buyer interest in the Mumbai luxury housing market. In terms of volumes, the primary market performed better indicating that buyers are preferring newly built luxury homes, with better specs and amenities. As per the data, the sales of luxury homes in primary market rose to 501 units during January-June this year, from 422 units in the year-ago period. But, the deals in the secondary (re-sale) market fell to 191 units from 200 units. In value terms, the sales of luxury homes in the primary market surged to Rs 11,008 crore from Rs 8,752 crore. The secondary market also saw slight increase in sales to Rs 3,743 crore, from Rs 3,533 crore, despite fall in volumes. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
