Ashwin Sheth reveals new logo and tagline in Times Square, New York
Luxury real estate developer Ashwin Sheth is celebrating a fresh start with a new logo, tagline, and a commitment to providing an exceptional customer experience. The company recently revealed its new branding at New York City's Times Square, a first for an Indian real estate firm. The new logo, featuring the letters "A" and "S" in perfect symmetry, symbolises Ashwin Sheth's dedication to creating living spaces that reflect their customers' needs and aspirations. The tagline, "Our world reflects your world," emphasises this focus. A teaser campaign, "Spot the Orange Dot," generated excitement with over 15,000 participants, transitioning into the launch of "Ashwin Sheth 2.0." The rebranding effort highlights the company's commitment to innovation and delivering unparalleled value in the real estate sector....
Rise of Green Buildings: Over 65% of Grade A office spaces certified in India's top cities
A recent Vestian Research report highlights a notable rise in green-certified office spaces across India's top seven cities. Over 65% of Grade A office buildings in Bengaluru, Delhi, Chennai, Kolkata, Hyderabad, Pune, and Mumbai now boast certifications for environmental and energy-efficient standards. This equates to more than 805 buildings out of 1,362 Grade A properties certified. LEED certifications, particularly at the Gold level, dominate the landscape, focusing on optimising energy, water usage, and promoting healthy work environments. The trend underscores a growing corporate preference for sustainability, with cities like Bengaluru and Chennai leading the charge in green building adoption and premium pricing benefits....
Residential project completion times improve by 20% across major Indian cities
Anarock's latest report reveals a 20% reduction in average completion times for new residential projects across major Indian cities. Studying markets like Mumbai, Delhi-NCR, Chennai, Bengaluru, Pune, Hyderabad, and Kolkata, the report compares projects launched between 2014 and June 2024, which averaged 4.9 years to complete. This marks an improvement from 6.1 years for projects launched between 2010 and 2019. Mumbai and Delhi-NCR lead with notable drops in construction timelines, attributed to stricter regulations under RERA and market consolidation among larger developers. Despite improvements, Kolkata lags at 5.7 years due to delayed RERA implementation and local market challenges....
Puravankara Ltd. meets expectations with steady Q1 sales and strategic expansion
Puravankara Ltd. reported impressive first-quarter (April-June 2024) sales bookings of INR 1,128 crore, matching the previous year's figures despite delaying new project launches. A 6% increase in average price realization per square foot to INR 8,746 highlights a shift towards luxury properties, reflecting growing demand in this segment. Puravankara's strategic land acquisitions in Thane and Bengaluru added 2.42 million sq ft of development space, ensuring a robust pipeline. Additionally, the company plans to raise INR 700-800 crore through a Qualified Institutional Placement (QIP) for organic and inorganic growth, while managing debt levels, which stood at INR 2,151 crore. This balanced approach positions Puravankara for sustained growth and leadership in the high-end real estate market....
Brigade Group launches 948 one-bedroom apartments in North Bengaluru's tech hub
Brigade Group introduces Cobalt, featuring 948 one-bedroom apartments within the expansive Brigade El Dorado township in North Bengaluru. Designed for young professionals, Cobalt integrates sleek, contemporary architecture amidst 40 acres of lush greenery. The township offers extensive amenities including retail shops, entertainment venues, a hospital, and sports facilities. Strategically located 15 minutes from Kempegowda International Airport and near major IT parks, Cobalt ensures seamless connectivity. With completion expected by Q2 FY29, this project underscores Brigade Group's commitment to providing modern, sustainable living solutions in Bengaluru's vibrant tech corridors....
Co-working firm Innov8 has made a significant expansion in the Delhi-NCR region, investing INR 10 crore to set up three new facilities with a total sitting capacity of over 600. The new centers, spanning 60,000 square feet, are located in strategic hubs like Unitech Cyber Park, DLF Cyber City, and Okhla. Innov8's founder cited the thriving startup ecosystem and corporate presence in the region as key factors behind this expansion. As a company acquired by OYO in 2019, Innov8 now operates over 30 centers across nine cities in India, catering to more than 8,000 employees of its clients....
G Square Pavillion: Tamil Nadu's largest sports-themed plotted community
G Square, South India's largest plot promoter, announced the success of G Square Pavillion in Singaperumal Koil, Tamil Nadu's largest sports-themed plotted community. Located on the Oragadam Bypass near GST Road, this DTCP-approved and RERA-registered project features 624 plots across 34.53 acres with over 50 amenities. It benefits from major infrastructure developments, including the SP Koil Overpass linking GST Road with Oragadam Bypass, and extensive connectivity via rail, road, metro, and air. The region is poised for growth, with significant automobile and IT hubs nearby. G Square Pavillion offers plots at an early bird price of INR 2799 per square foot, promising substantial future appreciation....
Worldwide Realty launches "The Golden City" in Manesar with 178 new plots
Manesar, near Gurugram, is set for growth with Worldwide Realty's launch of 178 new industrial plots in "The Golden City," covering 112.5 acres. This project offers businesses well-connected spaces near major expressways and highways, including the upcoming Gurugram-Pataudi-Rewari Highway, enhancing access and reducing costs. Catering to enterprises of all sizes, The Golden City provides modern infrastructure and amenities. Vikas Aggarwal, COO of Worldwide Realty, emphasised the area's improved connectivity and strategic appeal. This development aims to attract diverse ventures, boosting Manesar's industrial landscape and contributing to the region's economic growth....
Prestige Estates Projects Ltd., a prominent Indian real estate developer, faced a 23% decline in sales bookings for Q1 FY 24-25, dropping from INR 3,914.7 crore to INR 3,029.5 crore year-on-year. The decrease is attributed to delayed project launches, resulting in sales of 2.86 million square feet and 1,364 units, down from 3.83 million square feet and a higher unit count in the previous year. Despite this, the company achieved a 16% year-on-year increase in average realisation per square foot, totaling INR 11,934 for apartments, villas, and commercial spaces. Plot sales surged 46% year-on-year, averaging INR 7,285 per square foot. Chairman and Managing Director Irfan Razack remains optimistic, emphasising Bengaluru, Hyderabad, and Mumbai as key markets contributing to their strategy of launching new projects in the upcoming quarters. Prestige's challenges reflect broader issues in the I...
Ashiana Housing plans 3 million sq ft expansion across India
Ashiana Housing, renowned for senior living projects, is set to expand its portfolio, developing 2.5 to 3 million square feet across India in the financial year 2024-25. The expansion includes new ventures in existing markets like Chennai, Pune, Gurugram, Jaipur, Jodhpur, Jamshedpur, and Bhiwadi, and entering new ones like Bengaluru and Panvel. The company is introducing kid-centric housing in Jaipur and Gurugram, with units priced around INR 75 lakh to INR 3.5 crore. Additionally, a new senior living project, Ashiana Swarang, will launch in Chennai, offering 450 units priced between INR 75 lakh and INR 1.8 crore. Ashiana Housing aims to achieve INR 2,000 crore in sales for the fiscal year 2023-24....
Construction set to resume on 3C Lotus City project along Yamuna Expressway
Good news for nearly 500 homebuyers of the 3C Lotus City project in Noida: construction can finally begin after years of delays due to a legal dispute. The Yamuna Expressway Industrial Development Authority (YEIDA) and the new developer, ACE Infracity Developers Private Limited, have resolved a long-standing case pending before the National Company Law Appellate Tribunal (NCLAT). The project, launched in 2012 on 100 acres, faced delays due to farmers' demands for increased compensation. With a revised plan reducing ACE's land dues from INR 506 crore to INR 299 crore and addressing farmers' compensation, construction is set to resume, bringing relief to homebuyers....
Rustomjee acquires 88-acre land for plotted development in Kasara, Thane
Keystone Realtors Limited (Rustomjee Group) has acquired an 88-acre land parcel in Kasara, Thane for INR 91 crores, marking its entry into plotted development. This move caters to the rising demand for second homes away from urban areas. The project will feature approximately 500 plots across 1.5 million square feet, offering luxury living in a scenic mountain setting. Planned to launch in Q2FY25, the project aligns with Rustomjee's strategy to diversify its portfolio and improve profitability. Chairman Boman Irani emphasised the company's focus on innovation, quality, and meeting customer needs, aiming to set new industry standards in real estate....
Ashwin Sheth Group targets ambitious INR 5000 crore expansion and potential IPO
Ashwin Sheth Group, a prominent Mumbai-based real estate developer, is set to embark on a major expansion drive. The company plans to invest around INR 5,000 crore to strengthen its presence in the Mumbai Metropolitan Region (MMR) and explore new markets like Bengaluru, Delhi-NCR, Hyderabad, and Chennai. Aiming to double its sales bookings to INR 3,000 crore in the current fiscal, the group also intends to launch its IPO within the next 18-24 months, seeking to raise up to INR 3,000 crore. This strategic move will enable the company to fund its ambitious growth plans and diversify its product portfolio into new segments like warehousing....
Keystone Realtors, a leading real estate developer, has announced strong operational performance for the first quarter of fiscal year 2025. The company achieved pre-sales of INR 6.11 billion, a 22% year-over-year growth, and collections of INR 4.85 billion. Keystone Realtors launched two new projects with a total saleable area of 0.63 million square feet and an estimated GDV of INR 20.17 billion. The company also added a new redevelopment project with a saleable area of 0.35 million square feet and an estimated GDV of INR 9.84 billion. This performance demonstrates Keystone Realtors' commitment to sustained growth and operational excellence....
Alphacorp presents the Alphacorp SKYI, a 500,000 square foot luxury residence in Gurugram
Alphacorp announces Alphacorp SKYI, a luxury residential project in Gurugram's Sector 15, Part 2, featuring 200 exclusive units ranging from 2,400 to 3,600 sq. ft. The project emphasizes eco-friendly living with GRIHA Certified 4 Star and IGBC Gold 4 Star ratings, including rainwater harvesting and energy-efficient amenities. Strategically located for easy access and benefiting from Gurugram's expanding Metro network, Alphacorp SKYI promises luxury, sustainability, and convenience. Construction begins September 2024, with an estimated INR 350 crore investment, affirming Alphacorp's commitment to excellence in Gurugram's real estate market....
Experion Developers acquires INR 400 crore land parcel in Gurugram for a residential project
Experion Developers, the Indian subsidiary of Singapore's Experion Holdings Pte Ltd, has been aggressively expanding its footprint in the premium residential market of Gurugram. The company has acquired a 7.81-acre plot at Dwarka Expressway for INR 400 crore, with plans to invest an additional INR 2,000 crore to build 3 million square feet of luxury homes. In the last one-and-a-half years, Experion has acquired five plots worth INR 2,100 crore, primarily in Gurugram, where it is launching new projects. The company's latest acquisition in Sector 88A is expected to generate a revenue of INR 3,700 crore. Experion's strategy of strategic land acquisitions and luxury project development aims to capitalize on the flourishing demand for premium residential properties in the region....
Lodha One Bund Garden's Emperor Palace penthouse sells for record-breaking INR 37 crore
Pune's luxury real estate market has hit a new high with the sale of the "Emperor Palace" penthouse at Lodha One Bund Garden for an unprecedented INR 37 crore. This expansive 12,000-square-foot property, perched atop a residential tower, offers panoramic views of 500 acres of lush greenery, redefining luxury living in the city. Built by Lodha, the penthouse exemplifies Pune's growing demand for exclusive gated communities with top-tier amenities. This sale marks a significant milestone, surpassing previous high-end property sales and signaling continued growth in Pune's luxury real estate segment....
Mirae Asset chooses India for its first GCC outside South Korea
South Korean investment giant Mirae Asset plans to establish its first Global Capability Centre (GCC) outside South Korea in India. The centre, expected to be operational by mid-2024, will manage back-office functions and leverage India's tech expertise to support Mirae Asset's USD 225 billion global operations. With over INR 1.16 lakh crore (USD 14.56 billion) in Indian Assets Under Management, Mirae Asset's Vice Chairman, Swarup Mohanty, highlighted the GCC's role in expanding their nine Indian businesses to 14-15 within four years. The centre will also enhance their ETF and AI capabilities, bolstering India's position as a global financial hub....
Chennai development body plans to launch affordable co-working centres in three locations
The Chennai Metropolitan Development Authority (CMDA) plans to launch affordable co-working spaces in CIT Nagar, Anna Nagar, and Kolathur. These centres will offer high-speed internet, dedicated workstations, meeting rooms, and libraries, targeting middle-income employees, young professionals, and startups. With an investment of INR 30 crore, the facilities aim to reduce costs for users and revitalise urban areas. The CMDA plans to investigate public-private partnerships to ensure effective and sustainable operations. The initiative is well-received, provided it maintains standards akin to those of private co-working spaces, aiming to bolster the city's economic and urban development....
Ajmera Realty & Infra's Q1 FY25 sales bookings rose 36% to INR 306 crore
Ajmera Realty & Infra India Ltd. reported a 36 percent increase in sales bookings, reaching INR 306 crore in the first quarter of this fiscal year, driven by strong demand. This marks a rise from INR 225 crore in the same period last year. Director Dhaval Ajmera credited the growth to the successful launch of 'Ajmera Vihara' in Mumbai. The company is optimistic about its future, with a substantial pipeline of seven new projects estimated at INR 4,300 crore. Ajmera Realty specialises in luxury and mid-luxury residential projects, boasting substantial development potential in Mumbai's premier locations....
SignatureGlobal makes strong start in FY25, targets INR 100 billion in pre-sales
SignatureGlobal, a leader in affordable and mid-income housing in India, has reported a robust start to FY25 with INR 31.2 billion in Q1 pre-sales, marking a 255% YoY growth. This achievement surpasses 30% of their ambitious INR 100 billion full-year target. Collections also surged by 102%, reaching INR 12.1 billion, while net debt decreased by 16% to INR 9.8 billion. With an average sales realisation of INR 15,369 per sq ft, the company plans to stabilise this figure with new mid-income housing projects. SignatureGlobal's strong performance underscores their focus on affordability and readiness to meet growing housing demands in India....
Whiteland Corporation and Marriott International to invest INR 5600 crore in building Westin Residences in Gurugram
Whiteland Corporation, a leading real estate developer in Delhi's NCR, has joined forces with Marriott International Inc. to bring the prestigious Westin Residences to Sector 103 in Gurugram. This partnership combines Whiteland's expertise in delivering high-quality, sustainable projects with Marriott's renowned brand and commitment to wellness. The Westin Residences project, estimated at a staggering investment of INR 5,600 crore, will offer a range of three- and four-bedroom residences spanning 235 to 386 square meters, catering to the discerning preferences of modern homebuyers. The project's design and amenities have been meticulously crafted by renowned industry experts, ensuring a harmonious blend of architectural excellence, lush landscaping, and sophisticated interiors....
Brigade Enterprise plans INR 1,100 crore residential project in West Bengaluru
Brigade Enterprise Limited (BEL) is set to launch a significant residential project in West Bengaluru, facilitated by Knight Frank India. This project, spanning 1.2 million square feet on an 8-acre land parcel, addresses the growing demand for quality housing in the area. The project has a projected sales value of INR 1,100 crore (USD 163 million). West Bengaluru's strong infrastructure, including a 30 km metro line and proximity to major highways and industrial areas, makes it an attractive location. With a surge in demand for high-end properties and rising property prices, this development aligns with the city's growth and expansion plans....
Raymond Ltd proposes de-merger of Raymond Realty to unlock shareholder value
Raymond Ltd, the renowned textile major, has announced plans to demerge its real estate business into a separate entity called Raymond Realty Ltd. This strategic move aims to unlock the growth potential of Raymond's real estate portfolio, which accounts for 24% of the company's total revenue. The demerger will allow Raymond Realty to operate independently and potentially attract fresh investors or strategic partners, while enabling Raymond Ltd to focus on its core textile and engineering businesses. The new real estate company will inherit a significant land bank in Thane, with ongoing projects valued at over INR 9,000 crore and the potential to generate more than INR 25,000 crore in revenue. Additionally, Raymond Realty has recently expanded its footprint in Mumbai through several joint development agreements, further strengthening its real estate portfolio....
Brigade Group announces 1.2 million sq. ft. project on Tumkur Road, Bengaluru with INR 1,100 crore GDV
Brigade Group has launched an 8-acre residential project on Tumkur Road, West Bengaluru, featuring modern apartments at attractive prices. With a total built-up area of 1.2 million square feet (approx. 111,650 square meters), the project will offer two and three-bedroom apartments to meet the growing demand for mid-sized homes. Executive Director Pradyumna Krishnakumar highlighted the project's Gross Development Value (GDV) of INR 1,100 crore (USD 137 million). This launch follows the recent introduction of Brigade Insignia in Yelahanka. West Bengaluru's excellent connectivity and infrastructure make it a desirable location for this new residential venture....
Unitech Group resumes construction on 5,500 homes after Noida Authority approval
The Noida Authority has recently granted layout map approvals for several unfinished housing projects by the Unitech Group, providing relief to over 5,500 buyers whose homes were stalled. This decision follows a Supreme Court directive in April 2024, prioritizing completion of projects where flats have already been allotted. The approved projects cover 246 acres with partially built structures, while another 197 acres of undeveloped land remain for future considerations. Construction is set to restart pending environmental clearances, with Unitech aiming for timely completion, contingent on funding and other approvals. The focus remains on delivering homes to awaiting buyers across sectors 96, 97, 98, 113, and 117 in Noida....
Jaiprakash Associates considers asset sales to recover its INR 52,000 crore debt
Jaiprakash Associates Limited (JAL) is grappling with a colossal debt of INR 52,000 crore (approximately USD 6.5 billion). While the company's founders offered personal guarantees totaling INR 778 crore (about USD 97 million), this covers less than 2% of the total debt. Following a petition by ICICI Bank, JAL was admitted to bankruptcy court, highlighting the limited value of these guarantees. Creditors, led by State Bank of India with claims over INR 15,000 crore and ICICI Bank with claims exceeding INR 9,200 crore, are focusing on monetising JAL's assets, including hotels, cement plants, and prime real estate, to recover their funds....
Concorde Group acquires a 1.6-acre land in Bengaluru for a residential project
Leading real estate developer Concorde Group has acquired a 1.6-acre land parcel on Sarjapur Road in Bengaluru for a new residential project estimated at INR 200 crores. Facilitated by Colliers India, the project will feature a high-rise building with 2 and 3 BHK apartments, integrating home automation for enhanced security and energy efficiency. A signature Evolve clubhouse will provide top-notch amenities. The prime location offers access to key IT clusters and improved connectivity with the upcoming Peripheral Road and Namma Metro expansion. This acquisition underscores Concorde's commitment to innovative, high-quality living spaces, reinforcing its position as a top real estate developer....
Godrej Properties achieves record sales of INR 3,150 crore in Bengaluru's Godrej Woodscapes project
Godrej Properties has reached a milestone with its Godrej Woodscapes project in Whitefield-Budigere Cross, Bengaluru, selling over 2,000 homes and generating sales exceeding INR 3,150 crore (approximately USD 39 million). This project marks their most successful launch in Bengaluru and the highest sales volume and value ever for the company. This achievement, coupled with another recent launch exceeding INR 3,000 crore in sales, highlights the strong demand for residential properties in Bengaluru. With a robust pipeline of new projects in Bengaluru and plans to enter the Hyderabad market, Godrej Properties is set for continued growth in South India....
Puravankara acquires prime land parcels in Bengaluru and Mumbai with a GDV of INR 6,400 crore
Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, with a saleable area of 7.5 lakh sq ft and a potential gross development value (GDV) of over INR 900 crore. Additionally, it announced a 12.75-acre land acquisition in Thane and Mumbai, with a GDV of INR 5,500 crore. Its subsidiary, Provident Housing, bought landowner shares in Provident Botanico and Provident Capella for INR 165 crore and INR 86 crore, respectively, adding a GDV of INR 1,550 crore. The group plans to launch 14 million sq ft in FY25, focusing on development and land replenishment....
Ganga Realty invests INR 1,200 crore to deliver 524 luxury units in Sector 85, Gurugram
Ganga Realty will invest INR 1,200 crore in the Anantam residential project in Sector 85, Gurugram. The project spans 5.29 acres and will feature three G+59 storey towers with 524 units of 3 and 4 BHK apartments, priced from INR 16,500 per sq ft. Funded through internal accruals and customer advances, the project aims for a INR 2,000 crore sales target. Located near the Dwarka Expressway and IGI Airport, Anantam will include luxury amenities, smart home features, and sustainable technologies. Completion is expected in five years, offering "tallest luxury towers" in Gurugram and in Delhi....
Lucknow Development Authority launches ambitious housing and infrastructure schemes
The Lucknow Development Authority (LDA) is set to start land acquisition for four new housing schemes: Wellness City, IT City, Educational City, and Prabandhnagar. Approved by LDA chairperson Roshan Jacob, these projects span various locations and include significant infrastructure developments. Wellness City on Sultanpur Road will feature medical facilities, while IT City will host a hi-tech park and industrial zones. Educational City on Mohan Road will have a grid layout with extensive residential and commercial plots. Prabandhnagar Scheme on IIM Road will encompass residential, commercial, and industrial areas. A tender worth INR 225 crore has been issued for infrastructure development....
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