01 Dec 2023

Hiranandani Group introduces Eleva, a service consultant development model providing expertise in development, construction, design, marketing, and sales solutions for landowners and developers. Founder Niranjan Hiranandani notes the potential to aid projects in the market. The initiative, requiring no new investment, focuses on utilizing existing infrastructure. The first project, Vista in Andheri West, Mumbai, spans 3.33 lakh square feet, with plans for five projects covering nearly five lakh square feet by March 2024. The model's service-fee revenue approach positions the group as consultants for landowners with clear titles and statutory approvals.Read more

01 Dec 2023

Chennai-based WorkEZ, a managed office and co-working space provider, is set to invest Rs 63 crore in its expansion across Chennai, Bengaluru, and Coimbatore. Leasing four new centres, including spaces in Velachery and Alwarpet in Chennai, Bengaluru, and Coimbatore, the company's managed office space portfolio now spans 1.1 million square feet. WorkEZ aims to achieve a six-million-square-foot overall portfolio by FY2028. With an annual growth rate exceeding 50 percent, the company reported over 90 percent occupancy across its eight operational centres in Chennai and marked profitability in FY23 with a CAGR of just over 150 percent.Read more

01 Dec 2023

Ganga Realty unveils the Nandaka 84 uber-luxury residential project in Gurugram, committing an investment of over 1000 crores for its development. Strategically located near Dwarka Expressway and NH-48, the self-funded project spans 8.33 acres, featuring 3BHKs, 4BHKs, and penthouses across four towers. Partnering with London-based firm UHA, the project emphasizes green inclusivity with Miyawaki Gardens, medicinal and air-purifying flora, EV charging stations, and various amenities. Ganga Realty aims for single-phase completion by 2028, echoing the success of their first luxury project in Gurugram. The company's symbolic focus on "pure luxury" aligns with the growing demand for high-end residences in Gurugram.Read more

30 Nov 2023

The Rustomjee Group, also known as Keystone Realtors Ltd. (KRL), is in negotiations with landowners for joint ventures and joint development initiatives for projects near the Mumbai-Ahmedabad Bullet Train Project. Boman Irani, the Chairman and Managing Director of KRL, shared this strategy during the Q2FY24 earnings conference call. The company is also eyeing opportunities around the Mumbai Trans Harbour Link (MTHL). With an anticipated completion date of 2027 for the bullet train project, KRL is positioning itself for future cash flow in areas adjacent to major infrastructure projects. The company aims to launch projects with a revenue potential of Rs 4,000 crore in the current fiscal year, focusing on redevelopment and projects in the Mumbai Metropolitan Region.Read more

30 Nov 2023

Flexible office space provider IndiQube, supported by WestBridge Capital, reported a net profit in the last fiscal year, ending four years of consecutive losses. With a 70 percent year-on-year revenue increase, reaching Rs 595 crore, it anticipates a 40 percent rise in the current fiscal. IndiQube targets Rs 850 crore in revenue, planning to add 3–4 million square feet to its portfolio. Founded in 2015, the Bengaluru-based company caters to over 450 customers in 13 cities. Boasting over 90 percent occupancy, it earns 75–80 percent of revenue from rentals, with stable cash flows and a strategic focus on profitability.Read more

29 Nov 2023

India's prominent real estate advisory firm, The Guardians Real Estate Advisory, has introduced two verticals – The Guardians Cavalry and The Guardians Luxury. The Guardians Cavalry targets emerging developers with projects under Rs 100 crore, offering strategic guidance and transformative solutions, even for smaller-scale initiatives. Simultaneously, The Guardians Luxury caters to high-net-worth individuals, providing an exclusive platform for high-value residences and projects priced between Rs 10 crore and Rs 100 crore, ensuring a personalized and refined experience. This strategic move aligns with the firm's ethos of innovation, client-centricity, and a commitment to setting industry standards.Read more

29 Nov 2023

Ludhiana Improvement Trust is set to resume construction of Atal Apartments on Pakhowal Road after multiple stalled attempts. The project, initiated over a decade ago, faced delays, dropouts, and multiple inaugurations. The latest effort, backed by the current government, plans to start construction after the formal inauguration at the end of the month, possibly attended by Punjab Chief Minister Bhagwant Mann or Local Bodies Minister Balkar Singh. The project, marked by a tumultuous history of allotments, withdrawals, and changing political climates, aims to provide 576 flats with modern amenities on 8.8 acres of land.Read more

29 Nov 2023

Brigade Group has expanded its BuzzWorks flexible office brand by opening a premium workspace in Brigade Towers. This move is part of BuzzWorks' strategy to reach over 5000 seats in its portfolio by FY24, including the establishment of new centres in key locations like Hyderabad, Chennai, and Ahmedabad GIFT City. BuzzWorks strategically positions its centres within Brigade Group's Grade A tech parks, providing access to top-notch amenities. The workspaces feature biophilic design, collaborative spaces, and a plug-and-play model, reducing overall costs for users. Brigade Towers, the first commercial venture by the group, remains an iconic landmark in the city.Read more

29 Nov 2023

Vaishnavi Group, a leading real estate developer, has expanded its collaboration with Manipal Hospitals to construct a built-to-suit hospital in South Bengaluru. This strategic partnership responds to evolving healthcare needs and quality medical infrastructure, heightened by the COVID-19 pandemic. The Vaishnavi Sushrutha project, spanning 3.3 lakh square feet, will house a world-class tertiary care hospital with 250 beds, offering comprehensive healthcare services. Construction on Kanakapura Main Road commenced in March 2022, aiming for completion by December 2024. The move aligns with India's growing demand for healthcare infrastructure, emphasizing a shift towards prevention and wellness, along with its popularity in the medical tourism sector.Read more

28 Nov 2023

The National Company Law Tribunal (NCLT) has sanctioned an extraordinary exclusion of 936 days in the Corporate Insolvency Resolution Process (CIRP) for realty developer Lok Housing and Constructions, marking one of the lengthiest extensions in insolvency cases. Under bankruptcy regulations, the resolution process must be completed within 270 days, or the company faces mandatory liquidation. This significant exclusion is expected to defer Lok Housing's liquidation, granting approximately two and a half years to finalize the resolution. The decision followed a plea from the interim resolution professional.Read more