26 Apr 2024

TARC Limited celebrated a remarkable year with record-breaking presales and collections in FY2023-24, marking a 200% increase to INR 1,612 crore in presales and achieving its highest annual collection of INR 415 crore. The success is attributed to the launch of TARC Kailasa in New Delhi, garnering exceptional sales. Construction has commenced with ACC as the EPC contractor. Anticipating further triumphs, TARC 63A's upcoming launch is highly anticipated, boasting prime location and market trends alignment. CEO Amar Sarin credits the achievement to TARC's commitment to excellence and innovation, projecting to surpass INR 5,000 crore pre sales target for FY2024-25 amid a promising real estate market outlook.Read more

26 Apr 2024

Trident Realty, a major real estate developer in North India, has undertaken a strategic shift in its business focus. Through the sale of non-core assets including Shipra Mall in Ghaziabad, it has managed to raise INR 1,200 crore. Trident will utilize the sale proceeds for planned residential launches over the next 2 years' worth INR 15,000 crore across major markets in NCR, Mumbai, Panchkula and Tri-City (Chandigarh). This strategic move will allow Trident Realty to concentrate its resources on residential developments, exit non-core holdings, and further cement its position as one of the leading residential real estate players in North India.Read more

25 Apr 2024

Prescon Group and House of Hiranandani have unveiled 'Belicia', a luxury residential project in Thane. This 48-storey tower promises elegant living and is slated for completion by June 2028. Located near Nitin Company Junction, it offers 2, 3 & 4 BHK apartments starting at INR 1.85 crore. Amenities include a clubhouse, swimming pools, and jogging tracks. The project benefits from its proximity to essential services, major transport hubs, and corporate parks. Thane's rapid infrastructure development and connectivity make it an attractive investment destination. 'Belicia' embodies modern luxury and represents a smart investment opportunity in the Mumbai Metropolitan Region.Read more

25 Apr 2024

SEBI is conducting an e-auction on May 20th for 22 properties owned by Rose Valley companies in West Bengal, with a combined reserve price of INR 8.6 crore. These properties, including flats and office spaces, are part of SEBI's efforts to recover investor dues exceeding INR 5,000 crore. Rose Valley Group faced accusations of running illegal investment schemes promising high returns. Despite SEBI's directive to refund investors in 2017, Rose Valley failed to comply, leading to further regulatory actions. The Enforcement Directorate also initiated investigations and attached assets worth INR 150 crore. The auction offers investors a chance to recover some losses, but it's crucial for interested buyers to conduct thorough inquiries into the properties' status before bidding.Read more

24 Apr 2024

The Senior Citizens Welfare Association of Signature View Apartments plans to file a plea in the Delhi High Court regarding the evacuation and rent payment promised by the Delhi Development Authority (DDA) for the structurally unsafe 336-unit Signature View Apartment housing complex in North Delhi. While over 100 families had already shifted after demolition orders were issued last year, full evacuation is still pending. The association will argue that DDA's clause to only pay rent after all apartments are vacated is unfair as most owners are still paying EMIs and cannot afford additional rent during the interim period.Read more

24 Apr 2024

As heat waves worsen water stress in major Indian cities, homebuyers are increasingly seeking homes built with sustainability in mind. Large developers recognize the need to proactively build climate resilience and water security into new projects. Established brands like Lodha, Prestige and Mahindra Lifespaces have implemented various water conservation measures like rainwater harvesting, greywater recycling, and passive design. These initiatives are differentiating projects and driving sales. Developers are also educating residents on water-saving habits and providing resources for sustainable living. By integrating climate resilience from the start, developers are helping prepare India's cities and real estate for water-related impacts of climate change.Read more

24 Apr 2024

Sunteck Realty Ltd, a real estate developer in India, reported a 20% annual growth in sale bookings, reaching INR 1,915 crore in the last fiscal year. This impressive achievement reflects the strong housing demand in the country. The company witnessed a 26% increase in sale bookings during the fourth quarter, amounting to INR 678 crore. Sunteck Realty expanded its portfolio by adding seven large projects in the Mumbai Metropolitan Region, with a combined Gross Development Value of over INR 30,000 crore. Additionally, the company diversified into the annuity income segment by acquiring two leased assets at Bandra-Kurla Complex, positioning itself for steady rental income.Read more

23 Apr 2024

Premium real estate developer Ashiana Housing sold out 224 luxury flats worth INR 440 crores within 15 minutes of launch. The project 'Ashiana Amarah Phase 3' located in Gurugram sector 93 saw registration begin at 11 am, with 800 cheques received by 11:15 am for the 224 units. Company JMD Ankur Gupta attributed the incredible response to their quality offerings and strong brand value over the years, as well as the kid-centric amenities appealing to buyers seeking better quality of life for their children. Going forward, Ashiana Housing aims to continue expanding its premium portfolio across India.Read more

23 Apr 2024

Kolte-Patil Developers' annual sales in FY24 reached 3.92 million square feet, marking a significant 20% increase compared to the previous fiscal year's 3.27 million square feet. This surge underscores the company's robust performance and growing market presence. The uptick reflects strong demand for their real estate offerings. In Q4 FY24 alone, the company recorded quarterly pre-sales of INR 743 crore, indicating a 6% YoY growth. Kolte-Patil also launched projects worth INR 3,800 crore across Pune and Bengaluru during the fiscal year.Read more

22 Apr 2024

DevX, Gujarat's leading managed office space provider, launched a new coworking space in Udaipur, Jaipur, signaling its commitment to expanding nationally and globally. Founded in 2017, DevX seamlessly combines coworking spaces with an incubator's nurturing culture, fostering innovation and strategic alliances. Its initiatives cater to diverse entrepreneurial needs, aiming for collaborative growth. Co-Founder Umesh Uttamchandani highlighted Udaipur's launch as a strategic move to tap into North India's potential. Partner Kshitiji Patel lauded DevX's role in upholding service excellence. With plans for further expansion and consolidation, DevX aims to be the preferred partner for multinational firms, GCCs, and ODCs by 2024.Read more