Pune: 315Work Avenue takes on extra 56,000 sq. ft. of office space
315Work Avenue has expanded its presence by leasing 56,000 square feet of office space at International Tech Park Pune (ITPP), following a previous lease of 44,000 square feet in the same tech park. ITPP, a Grade A technology park developed by Ascendas-Singbridge, spans 2.5 million square feet. With six centers across 0.6 million square feet in Pune, 315Work Avenue now offers around 12,000 workstations. The company manages a total portfolio of approximately 2.5 million square feet and 50,000 workstations in Bengaluru, Chennai, Mumbai, and Pune, with plans to expand into New Delhi & NCR and Hyderabad....
House of Hiranandani signs redevelopment projects covering 17 lakh sq. ft. in Mumbai
House of Hiranandani is expanding its presence in Mumbai's redevelopment sector, signing projects covering 17 lakh sq. ft. with a Gross Development Value of INR 5,000 crore. The company has entered into agreements with five housing societies in Chembur, planning to invest INR 3,200 crore. These projects include the redevelopment of Maitri Park and Shrinagar Society. With a legacy of over four decades, House of Hiranandani focuses on transforming old, congested areas into sustainable communities. The company also plans to explore other Mumbai locations for redevelopment while maintaining its commitment to excellence in design and environmental responsibility....
Puravankara expands presence with major redevelopment projects in Mumbai and Bengaluru
Puravankara Limited has expanded its portfolio with new redevelopment projects in Breach Candy and Andheri West, enhancing their role in Mumbai's real estate sector. Rajat Rastogi, CEO - West & Commercial Assets, emphasised the company's commitment to design excellence and timely delivery, reinforcing their reputation as a trusted partner for redevelopment projects. Additionally, in Bengaluru, Puravankara has signed a Joint Development Agreement for a 1.95-acre site in Electronics City, near the Kudlu Gate Metro Station. This project, with a saleable area of 260,000 square feet, is strategically positioned near essential infrastructure, with current market rates ranging from INR 12,000 to INR 14,000 per square foot....
BHIVE Workspace leases 77,000 square feet of office space in Indiranagar, Bengaluru
BHIVE Workspace has leased 77,000 square feet of grade-A office space from Address Maker on CMH Road, Indiranagar, Bengaluru, for INR 8.5 crore annually. This new space will accommodate over 1,500 seats and feature various amenities like boardrooms, recreational zones, and dedicated parking. In August 2024, BHIVE also leased 42,000 square feet in Mahadevapura, Bengaluru, following a 62,000 square feet expansion in Mumbai's Bandra-Kurla Complex. Aiming for INR 348 crore in revenue for FY25, BHIVE plans to add 3 million square feet by FY26, solidifying its position as a leader in flexible workspaces across India....
Raymond approves INR 150 crore investment in subsidiaries for real estate growth
Raymond, a leading textile and apparel conglomerate, has approved significant investments to support the growth of its real estate subsidiaries, Ten X Realty West and Ten X Realty. The board has approved investments of up to INR 100 crore and INR 50 crore, respectively, in the form of redeemable preference shares to fund redevelopment projects. Additionally, the board has re-appointed Ashish Kapadia as an independent director for a second term and appointed Harmohan Sahni, the current Business CEO of the Realty Business, as an executive director. These decisions demonstrate Raymond's commitment to expanding its real estate footprint and strengthening its leadership team to drive long-term success....
Sushma Group acquires 59-acre land parcel for mix-use project in Ludhiana
Sushma Group has acquired a 59-acre land parcel in Ludhiana for a mixed-use development, featuring residential, industrial, and commercial plots. This project aims to enhance Ludhiana's real estate landscape, leveraging the Ajmeri-Ludhiana Economic Corridor's improved connectivity. With features like medical facilities, green spaces, and infrastructure for fast airport connectivity, the initiative supports Ludhiana's economic growth. Prateek Mittal, Sushma Group's Executive Director, emphasized its role in transforming Ludhiana into a key hub for commercial and industrial activities, fostering sustainable development and elevating the city's economic landscape....
H2O by Aranyakaa Farms: A sustainable farmland project aiming for water security
Aranyakaa Farms has launched H2O -Harvesting a Brighter Tomorrow, a 61-acre sustainable farmland project near Bangalore. Designed to address the city's water shortage, H2O integrates innovative conservation techniques, including rainwater harvesting pits, recharging wells, and a two-and-a-half-acre man-made lake. Located in the soon-to-boom Hosur Economic Corridor, the project blends eco-friendly designs like a sustainable clubhouse, Gaushala, and Biopool. With a focus on long-term water security, H2O promotes sustainability while offering significant investment potential....
Prestige Exora expands to Pune with prime land purchase in Kharadi
Prestige Exora Business Parks, a subsidiary of Bengaluru's Prestige Estates, has acquired a prime 4.57-acre land parcel in Pune's fast-growing Kharadi area for INR 200 crore. The deal, finalized in April 2024, marks Prestige's expansion into Pune's booming real estate market. Kharadi, known for its IT parks, corporate offices, and upscale residential developments, has become a hub for land investments due to its proximity to Pune's IT corridor and excellent connectivity via the Pune-Mumbai Expressway. Prestige's acquisition from B U Bhandari M&M Real Estate agents aligns with its strategy to capitalize on Pune's dynamic housing and commercial sectors....
The Hive Hostels to add 3,000 beds by FY 2025 with INR 10 crore investment
The Hive Hostels plans to expand its student accommodations by adding 3,000 beds by FY 2025 with an INR 10 crore investment. To streamline operations and prepare for its upcoming IPO, the company has partnered with Crib, a leading property management software platform. Operating across 10 cities with 20 properties, The Hive recently raised INR 11.5 crore in a pre-IPO funding round. The company is also launching Aurus-Luxury Student Residences, offering 450 premium beds, with plans for 1,000 more. Crib's technology will enhance operational efficiency, supporting The Hive's growth and focus on high-end student housing....
NBCC proposes three-phase plan to complete 50,000 Supertech flats
State-run NBCC has proposed a three-phase plan over three years to complete 50,000 Supertech flats in the NCR across 17 projects. The cost is estimated at INR 9,500 crore, with receivables pegged at INR 16,000 crore, mainly from unsold inventory. NBCC seeks NCLAT's approval to enter as project management consultant, requiring an initial INR 100 crore. It also proposes a committee to oversee project execution and finances. NBCC's involvement, following its success with Amrapali projects, has garnered homebuyer support, especially as Supertech's promoter faces insolvency and legal issues. NBCC will charge 8% fees and 1% marketing fees....
Signature Global and Ahluwalia Contracts partner for premium housing project in Gurugram
Signature Global has partnered with Ahluwalia Contracts for an INR 1,144 crore contract to develop its first luxury residential project, "De-luxe DXP," in Gurugram's Sector 37D. The project aims to redefine luxury living with sustainable design, exceptional amenities, and top-tier construction. Spanning 16.65 acres, it will feature 1,008 units across eight towers, including apartments and penthouses. The project has received positive responses, particularly from NRIs and professionals, recording INR 3,600 crores in presale bookings. With IGBC Gold Rating and features like swimming pools, clubhouses, and retail spaces, De-luxe DXP promises modern living with excellent connectivity and sustainability....
County Group acquires development rights for a 7.9 acre land parcel in Gurugram
The County Group, based in Delhi-NCR, has acquired development rights for a 7.9-acre land parcel in Gurugram's village Harsaru, Sector 88A, near the Dwarka Expressway, for INR 105 crore from Brock Developers Private Limited and Ashiana Landcraft Realty Private Limited. Perfect Megastructure Private Limited, a subsidiary of the County Group, will oversee the development. The County Group plans to develop a luxury housing project on this site. Additionally, they recently announced a INR 5,000 crore investment in the 'Ivory County' project in Noida, projected to generate around INR 7,500 crore in revenue....
AIPL eyes 5 million sq. ft. commercial portfolio with new projects in Delhi-NCR and Punjab
AIPL, a leading realty developer, is aggressively expanding its rental portfolio, aiming to reach nearly 5 million square feet by 2025. This ambitious plan will see the company's portfolio nearly quadruple in size, driven by strong demand for high-quality office spaces in key markets like Delhi-NCR and Punjab. AIPL's flagship project, AIPL Masterpiece, has already attracted prominent corporates like Perfetti and Samman Capital, demonstrating the company's commitment to providing modern infrastructure and world-class amenities. This expansion aligns with the robust demand for office space across India, as evidenced by the recent surge in leasing volumes and supply additions in major cities like Bengaluru, Mumbai, Delhi NCR, and Hyderabad....
ATS Realty clears dues to YEIDA, kickstarts 100-acre township development
ATS Realty, a prominent developer, has recently cleared INR 130 crores in outstanding dues to the Yamuna Expressway Industrial Development Authority (YEIDA), enabling the commencement of a 100-acre township development near the upcoming Noida International Airport. This payment was made in accordance with the Amitabh Kant committee's recommendations, which granted developers a deadline of August 31st to clear 25% of their outstanding dues and additional farmer compensation. The committee's report is seen as a significant step towards reviving stalled projects and boosting investor confidence in the sector. A revival in the housing and construction sector is also vital for boosting the overall economy....
Jashn Realty unveils a premier 10-acre luxury residential development in Lucknow
Jashn Elevate by Jashn Realty spans 10 acres, delivering a lavish lifestyle and an exceptional living experience. This RERA-approved project, valued at INR 820 crores, has already experienced a 20% increase in property value, with expectations of a 50% increase next year. Featuring over 56 modern amenities, including high-tech fitness centers, swimming pools, and serene green spaces, the development caters to diverse lifestyle needs. Strategically located on Sultanpur Road, it provides seamless access to key city areas. Jashn Realty also offers in-house financial assistance, ensuring a seamless homebuying process for potential residents....
NeoLiv partners with Royal Green Realty for 20-acre township development in Sonipat
NeoLiv has partnered with Royal Green Realty to develop a 20-acre township in Sonipat, with a gross development value exceeding INR 600 crore. This ambitious project will feature villas, independent floors, and plots, catering to diverse residential needs. The company is actively seeking new investment opportunities in greenfield, redevelopment, and brownfield projects, focusing on Mumbai and Delhi, with investments typically ranging from USD 10-20 million. In March 2024, NeoLiv successfully raised over INR 300 crore during the first close of its alternative investment fund (AIF), Inliv Real Estate Fund, supporting its ongoing expansion and development efforts....
Signature Global expands senior management team to drive innovation and growth
Signature Global, a top real estate company in India, has strategically restructured its senior management team to align with its growth trajectory and enhance leadership. The company has expanded its Senior Management Personnel (SMP) team by promoting nine key senior resources, including Jayanta Barua (Head of MARCOM) and Varun Mehta (Group President of Operations). This restructuring aims to boost operational efficiency and foster innovation. By reinforcing its leadership, Signature Global is poised to navigate the evolving real estate market with agility and maintain its leading position in the industry....
Adarsh Developers settles debt with Edelweiss Alternative Asset Advisors
Adarsh Developers is nearing a financial turnaround after repaying a INR 750 crore structured finance facility from Edelweiss Alternative Asset Advisors, initially raised in 2022 at over 20% interest. This repayment, supported by operational cash flow and cheaper bank refinancing, has reduced the company's cost of funds by 8-9 percentage points. Adarsh used part of INR 1,900 crore from a land sale to Mapletree Investments to settle a portion of the debt. The firm has also repaid INR 1,270 crore of debt over the last two years and continues to focus on residential and some commercial projects....
Landmark Group to invest INR 4200 crore in real estate portfolio expansion
Landmark Group, a prominent real estate developer based in Gurugram, is gearing up to expand its business portfolio with a robust project pipeline. The company plans to invest INR 4,200 crore over the next two years to launch a mix of luxury, retail, and commercial projects in the thriving micro-markets of Gurugram. Landmark Group's upcoming projects include a group housing development along the Dwarka Expressway and a premium high street project in New Gurgaon, both slated for launch by the end of 2024. The company's diverse real estate portfolio includes townships, villa complexes, group housing, and mixed-use retail spaces, as well as co-working spaces....
Eros Group invests INR 400 crore in Greater Noida Phase 3 project
Eros Group is investing INR 400 crore to advance the development of Phase 3 of its Eros Sampoornam residential project in Greater Noida. Spanning 21,728 square metres, the project includes 11 towers with luxurious 2 and 3 BHK apartments. The company has already sold inventory worth INR 200 crore, reflecting strong buyer confidence. Located near the upcoming Aqua Line metro station, the project offers state-of-the-art infrastructure and modern amenities, including a gated community and a sophisticated community centre. Eros Sampoornam 3 promises to elevate living standards, blending luxury, comfort, and strategic convenience for its residents....
Arbour Investments expands portfolio with USD 7 million investment in Justo Realfintech
Mumbai's Arbour Investments has forged a strategic partnership with Justo Realfintech through a USD 7 million investment, including USD 5 million in equity and USD 2 million in debt. This investment is designed to leverage Justo's innovative sales and marketing strategies along with Arbour's financial strength, enhancing service offerings and expanding market presence, particularly in the mid-market developer sector. The collaboration aims to integrate Justo's expertise with Arbour's capabilities, driving growth and innovation while improving project efficiency and client satisfaction....
Group Satellite unveils exciting Ganesh Chaturthi offers for home buyers
As Ganesh Chaturthi approaches, Group Satellite is celebrating with special, limited-time offers for homebuyers. Their project, Aarambh Avyaan, is presenting 1 BHK homes starting at an all-inclusive price of INR 54.50 Lacs. Buyers can secure a home with a 10% down payment plus Stamp Duty, enjoying financial freedom throughout 2024. Each purchase includes a 10 GM Gold Coin and a Modular Kitchen. This offer is valid until September 18, 2024. According to Mr. Himanshu Jain, the festive season is an opportune time for home investment, and Group Satellite's deals align with ongoing infrastructure developments in Mumbai....
Siddha & Sejal Group opens EOI phase of final tower at Siddha Sky, Sion NX
Siddha Group, in collaboration with Sejal Group, announces the Express of Interest (EOI) Phase for their final tower, "WOW OR NEVER," at 'Siddha Sky' in Sion NX. From August 29 to October 3, 2024, buyers can access EOI benefits worth INR 21 Lacs. The project features 5 towers with 39 storeys each, connected by Mumbai's first Rooftop Skywalk. Offering 2 & 3 Bed Lifestyle Residences, it includes over 4 acres of open space, a 22,000 sqft Resident's Club, and a range of unique amenities....
WeWork expands in Delhi-NCR with 400,000 sq ft leases across key locations
WeWork India is set to lease over 400,000 square feet in Delhi and Gurgaon, expanding its footprint in response to rising demand for flexible workspaces. The company will occupy 148,000 sq ft at Prestige Trade Tower, 115,000 sq ft at Bharti Worldmark 6, and 140,000 sq ft at DLF Cyber City. This move aligns with a broader trend in the National Capital Region (NCR) where office leasing activity is increasing. Key developments by Prestige Group and Bharti Realty highlight the region's growing appeal for global businesses and the shift towards hybrid work models....
Shriram Properties aims to triple revenue and double sales by 2027
Shriram Properties Ltd, a division of the Shriram Group, plans to boost its sales and revenue over the next three years. They are focusing on mid-market housing projects and aim to double their sales and triple their revenue. The company has launched a new brand identity called SPLNxT to improve its image. Shriram Properties will invest INR 2,000 crore in new projects and expand their inventory. They are also planning to enter the Pune market and continue their strong presence in Chennai. Additionally, they will look into projects for senior retirement homes....
Ivy League House: New 325-bed student hostel in Juhu, Mumbai by CLSPL and BNMV Trust
Curated Living Solutions Pvt Ltd (CLSPL) and Shree Banbai Nenshi Trust (BNMV) Trust have partnered to launch Ivy League House, a 325-bed student hostel in Juhu, Mumbai. Spanning 100,000 square feet on Gulmohar Road, this all-female hostel caters to students from nearby institutions like NMIMS and Mithibai College. The initiative reflects a rising trend in premium student accommodations amid high demand and urban challenges. Emphasizing secure, supportive living environments, the project aims to set new standards in student housing. With a projected shortfall of 20 million student beds by the decade's end, this development addresses a crucial market need....
Birla Estates and LGCPL Group to develop 131-acre luxury project in Sector 150, Noida
Birla Estates has partnered with LGCPL Group to develop a 131-acre land parcel in Sector 150, Noida. This project, pending necessary approvals, will feature a 50-acre golf course and top-tier sports facilities. Located near the Noida-Greater Noida Expressway and the Yamuna Expressway, the site offers excellent access to Delhi, Noida, and Greater Noida. This venture is part of Birla Estates' broader expansion plan, which includes a five-acre plot in Sector 71, Gurugram, expected to generate over INR 1,400 crore in revenue. Additionally, Ekamaya Properties, a subsidiary, recently acquired land in Kalwa, Maharashtra, for INR 595 crore....
Suraksha Group outlines a INR 6,500 crore plan to revive Jaypee Infratech
Following its acquisition of Jaypee Infratech Ltd (JIL) on June 4, 2024, Suraksha Group has outlined a resolution plan to address JIL's debt and revive its projects. The plan includes allocating 2,552 acres of land to lenders, injecting INR 125 crore in equity, and securing INR 3,000 crore in loans to complete 20,000 residential units. With an estimated need of INR 6,500-7,000 crore to finish 160 towers, Suraksha aims to restart construction by October 2024. Governance changes and a payment of INR 1,334 crore to YEIDA are also part of the strategy, reflecting broader real estate sector challenges....
Macrotech Developers acquires Opexefi Services and One Box Warehouse for INR 95.76 crore
Macrotech Developers has acquired Opexefi Services and One Box Warehouse for INR 46.67 crore and INR 49.09 crore, respectively. Both companies will operate as wholly-owned subsidiaries, marking Macrotech's entry into the logistics and digital infrastructure sectors. This strategic move aims to enhance operational efficiencies and meet growing market demands driven by e-commerce and technological advancements. The acquisitions align with the expanding logistics market in India, projected to reach USD 215 billion by 2025. Macrotech's investment reflects its commitment to diversifying its portfolio and strengthening its presence in the industrial sector....
Urban Vault expands with 100,000 sq. ft. lease in Whitefield, Bengaluru
Urban Vault, a managed co-working firm, has leased 100,000 square feet of prime office space at Brigade Summit in Whitefield, Bengaluru, to meet the growing demand for managed workspaces. The new facility will house over 2,000 desks, with a per-seat cost of INR 9,000 and above-monthly. Urban Vault, with over 20 lakh square feet of office space and 30,000 desks in its portfolio, plans to expand into Pune, Gurugram, Hyderabad, Delhi-NCR, and Mumbai. The company reported a turnover exceeding INR 100 crore in the 2023-24 fiscal year, driven by the demand for Grade A office space....
SC permits NBCC to construct 8000 additional apartments in stalled Amrapali projects
The Supreme Court has cleared the way for the NBCC, a public sector undertaking, to construct nearly 8,000 additional apartments in six of the 24 stalled Amrapali projects in Greater Noida and Noida. The funds generated from the sale of these flats will be used to recover project costs and clear the dues owed by the bankrupt real estate developer Amrapali to the Noida and Greater Noida authorities. Amrapali had declared bankruptcy in 2017 and abandoned the 24 projects, leaving thousands of homebuyers in the lurch. The Supreme Court has allowed NBCC to pay INR 743.16 crore to the authorities for a higher floor area ratio (FAR) to expedite the construction work....
Unitech resumes South Park project in Gurugram after a decade-long delay
Unitech has resumed the construction of its long-stalled South Park project in Gurugram's Sector 70, which was halted in 2013. Originally intended to deliver 832 flats across 27.4 acres, only 672 units were sold before work stopped. The new management, appointed after a Supreme Court order, secured necessary clearances and plans to complete the project within three years. An additional 4.31 acres have been acquired to expand the project. Safety assessments are being conducted, and a quarterly payment plan for buyers has been introduced. However, buyers face challenges in securing loans, with some planning to seek court intervention....
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