13 Oct 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has unveiled an instrumental furniture park scheme in Greater Noida, geared towards fostering non-polluting industrial growth. The initiative offers plots of up to 4,000 square meters at competitive premium rates, creating a welcoming environment for entrepreneurship and innovation. With 63 plots dedicated to MSMEs, it not only boosts local economic development but also generates employment. Located strategically near key areas like Jewar Airport, this project ensures seamless connectivity and goods movement. YEIDA's initiative signifies a pivotal stride toward economic progress, inviting entrepreneurs to contribute to the flourishing industrial landscape of Greater Noida.Read more

13 Oct 2023

Ajmera Realty & Infra India Ltd, a prominent Indian real estate firm, unveiled its remarkable Q2 FY24 performance, showcasing a 52% YoY surge in sales. This substantial growth, totalling INR 252 crores in sales bookings, was fuelled by strong demand, including notable projects like Ajmera Eden. The company attributes its success to a thriving market, boosted by the Reserve Bank of India's rate freeze, and a 5x growth strategy focusing on untapped micro-markets. Dhaval Ajmera, Director, stressed the importance of pre-sales and business development to reach a fiscal year sales target of INR 1,000 crores. The company's dedication and stable interest rates promise continued growth in the festive season and beyond.Read more

12 Oct 2023

The Bombay High Court has lifted the Enforcement Directorate's (ED) attachment on two flats in the dilapidated Opera House building, Hari Niwas, paving the way for its redevelopment. The building owners, Kirti Hansraj Kothari and family, offered fixed deposit receipts to replace the attachment, citing the urgent need for redevelopment. The ED's money laundering case was linked to a CBI case against M/s ABC Cotspin Private Limited. The court accepted the offer, allowing the property owners to furnish fixed deposit receipts, and upon compliance, the attachment will be lifted, facilitating the redevelopment of the 5-storey structure.Read more

12 Oct 2023

Residents of Tower H in the Chintels Paradiso housing complex in Gurugram have been instructed to evacuate their flats by the District Disaster Management Authority (DDMA). The Deputy Commissioner and Chairman of DDMA, Nishant Kumar Yadav, issued the evacuation orders, citing the IIT Delhi structural audit report from July that deemed the tower unsafe for habitation. The notice demands residents to vacate within 15 days failing which legal action under relevant sections of the IPC and Disaster Management Act could be taken up. A total of 5 towers in the complex have been flagged as unsafe by IIT Delhi.Read more

12 Oct 2023

The Lucknow Development Authority (LDA) plans to construct a seven-storey apartment exclusively for senior citizens in Gomtinagar's Viraj Khand. The decision involves cancelling the allotment of 9,000 square meters of land designated for railways. The Studio flats will be designed with a focus on the needs of senior citizens featuring spacious balconies, cross ventilation, and amenities like meditation centres and a gymnasium. The flats will be allotted on lease to individuals above 60 years who are living independently. The initiative aims to provide a comfortable and nature-connected living environment, addressing the well-being and minimalistic lifestyle preferences of senior citizens.Read more

11 Oct 2023

Residents of the Melavasal Housing Board complex in Madurai have staged a protest, expressing their dissatisfaction with the maintenance of the housing complex by the Madurai Corporation. The complex, home to around 4,500 residents, has been facing issues like a leaky underground drainage system, foul odours, and accumulating garbage. The residents handed over the maintenance responsibility to the Madurai Corporation in 2016-17. However, they complain of poor sanitation and inadequate cleaning efforts. Tensions are rising, and the Viduthalai Chiruthaigal Katchi (VCK) party has threatened road picketing if the issues are not resolved, highlighting the urgency of addressing residents' concerns.Read more

11 Oct 2023

Prestige Group, a prominent realty firm, has experienced a substantial surge in its sales bookings during the second quarter of the fiscal year 2024. Their sales reached a remarkable INR 7,092 crore, marking an impressive 102% increase compared to the previous year. This surge is attributed to strong demand for residential properties. In addition, the company achieved an average realization of INR 10,369 per square foot for apartments/villas, further enhancing their performance. Overall, Prestige Group has achieved remarkable sales figures, closely approaching its total sales for the entire fiscal year 2023 in just the first half of FY24.Read more

11 Oct 2023

Hero Realty Pvt. Ltd. (HRPL), a prominent Indian real estate developer, has achieved an extraordinary feat in the realty market by securing two single-day sell-outs within a single quarter. The first occurred with the launch of Hero Earth, a plotted development project, and the second with Hero Homes Gurugram Tower-8. Both projects have collectively contributed INR 350 crore to HRPL's revenue. This accomplishment underscores the robust demand for high-quality real estate in India and Hero Realty's ability to deliver projects aligned with the preferences of modern homebuyers and investors, setting new industry standards.Read more

10 Oct 2023

Bombay Dyeing is set to make significant strides in the real estate sector following the sale of its Worli land parcel for a whopping Rs 5,200 crore. The company is eyeing diversification into warehousing and holiday homes, with plans to embark on marquee projects in collaboration with landowners and group companies. This strategic shift underscores Bombay Dyeing's ambition to establish itself as a prominent player in the listed real estate arena, leveraging its recent landmark sale and the potential of emerging market opportunities.Read more

10 Oct 2023

TVS Emerald, a subsidiary of TVS Holdings Ltd, has unveiled 'The Estate,' its maiden plotted development project in Bagalur, near Bangalore. This 33-acre project is the group's first venture into plotted development near Bangalore and has already witnessed remarkable success, with 442 out of 461 plots sold on the launch day. 'The Estate' offers a unique feature with every plot adorned with fruit-bearing orchard trees. It comprises three phases, each offering modern amenities. Additionally, a 15,000 sq.ft clubhouse is planned. TVS Emerald plans to expand its presence in Bangalore with upcoming projects.Read more