In a significant real estate transaction, two prominent properties in Tardeo have been sold for a staggering Rs 355 crore. The properties, Bayside Mall and the Popular Press Building, both located on Pt Madan Mohan Malviya Marg, Tardeo, have been acquired by Ivory Property Trust from AAA Holding Trust.
About The Bayside Mall Deal
The Bayside Mall deal encompasses a land area of 1216.29 sq mtr while the land at Popular Press measures 1070.24 sq mtr. Ivory Property Trust paid a stamp duty of Rs 21.30 crore for the deal registered on August 13, 2024, according to property documents accessed by CRE Matrix, a real estate data analytics firm.
This acquisition is expected to enhance the commercial landscape of Tardeo, potentially attracting more businesses and boosting economic activity in the area.
Surge Seen In Housing Prices Across Top Eight Markets In India
According to the housing price tracker report for Q3 of 2024 published by CREDAI–Colliers-Liases Foras recently, the housing prices across top eight markets in India increased by 11% year-over-year (YoY) to Rs 11,000 per sq ft in Q3 2024, driven by strong demand and positive market sentiments. This marks the 15th consecutive quarter of rising prices since 2021.
Delhi NCR saw the highest annual increase at 32% YoY, followed by Bengaluru at 24% YoY. Despite record-high sales over the past two years, demand across top cities is stabilizing, though residential activity is expected to remain strong in the last quarter of 2024.
Unsold inventory dropped for the third consecutive quarter due to healthy uptake in housing units. By September 2024, unsold inventory across the eight major cities was over 1 million units, with MMR holding the largest share at about 40%. Hyderabad saw a slight quarterly dip in unsold units despite a 28% annual increase.
