Lavasa creditors set new criteria for bidders after failed sale attempt
Author : PNT Bureau
Creditors of Lavasa Corp, India’s first private hill town project, have introduced stricter eligibility criteria for potential bidders after a failed sale attempt earlier this year. Led by Union Bank of India (UBI), 77% of lenders have agreed to require a net worth of INR 100 crore and a refundable deposit of INR 25 lakh for expressions of interest. A new resolution professional and process advisor are expected to replace current overseers. The National Company Law Tribunal recently revived the insolvency process after Darwin Platform Infrastructure failed to implement the approved resolution plan, leaving creditors seeking a fresh approach to secure a buyer....
Excentia Tatva: Dehradun's pioneering ultra-luxury green residential project
Author : PNT Bureau
Excentia Infra, a leading real estate developer, has unveiled Excentia Tatva, Dehradun's first ultra-luxury residential project, nestled in the serene surroundings of Rajpur Road. Spanning across 5 acres, this exclusive low-density development features only 307 premium units, with the company investing a staggering Rs 650 crores in this prestigious project. The project has already received RERA approval. The project features world-class amenities and is strategically located near prominent landmarks like Max Super Speciality Hospital and Taj Hotel....
Worli BDD Chawl residents to move into new homes by January 2025
Author : PNT Bureau
The redevelopment of Worli's BDD chawls is progressing, with around 550 flats near completion. MHADA began work on 14 structures in 2021, with six buildings under construction and two almost finished. Originally slated for completion in 2025, the project could now wrap up by January 2025. While the redevelopment aims to provide modern housing for 9,689 residents, current tenants are facing severe hardships, including health issues, sewage problems, and power outages. Despite these challenges, officials have assured residents that they will be relocated to the new apartments soon, with some already receiving rent assistance during construction....
Bhumika Group expands to Gurgaon with new commercial project on MG Road
Author : PNT Bureau
Bhumika Group, a renowned real estate developer and the largest mall developer in Rajasthan, has entered the Gurgaon market with a new commercial project on MG Road. Acquiring a 1-acre land parcel, the Group aims to generate approximately INR 300 crore in revenue. This move aligns with their plan to expand their retail footprint in Delhi NCR, with 8.5 lakh sq. ft. of space expected by 2024. The project will feature premium retail, dining, and entertainment options, following the success of their Urban Square Mall in Udaipur....
Shriram Properties Ltd has launched "Codename Pudhiya Chennai," a RERA-approved apartment project in the Thirumazhisai area, to the west of Chennai, with a revenue potential of INR 550-600 crore. Spread across 1.1 million square feet, the project offers two- and three-bedroom vastu-compliant apartments with modern designs and premium finishes. It includes various amenities such as a fitness centre, clubhouse, and landscaped spaces. Strategically located near major transport hubs, including the Thirumazhisai Metro, Chennai-Bangalore Expressway, and the upcoming Parandur Airport, the project promises excellent connectivity and long-term investment value, catering to the evolving needs of Chennai residents....
Delhi: DDA's affordable housing schemes see strong demand with over 1,600 flats sold
Author : PNT Bureau
Over 1,200 LIG and 440 EWS flats were sold under DDA's Sasta Ghar and Madhyam Vargiya Housing schemes, with significant sales in locations like Ramgarh, Rohini, and Narela. Since bookings began on September 10, all HIG flats in Jasola sold out on the first day, and strong demand was seen in Dwarka, where various flats were auctioned. Launched in August 2024 under Delhi LG Vinai Kumar Saxena, these schemes aim to provide affordable, quality housing while enhancing community life with green spaces. Buyers benefit from organized property documents and available sample flats for informed decision-making....
Navratri Home Fest: Mumbai homebuyers get festive offers on ready-to-move homes this Navratri
Author : PNT Bureau
Navratri, one of India's most anticipated festivals, symbolises the triumph of good over evil and offers developers a chance to attract homebuyers with special promotions. Tridhaatu Realty and Group Satellite present exciting limited-time offers on luxury apartments, featuring favourable payment plans and modern amenities. These opportunities make investing in dream homes particularly appealing amid rising property prices and interest rates....
WeWork leases 143,000 sq ft to IBM and OpenText at Embassy Golf Links in Bengaluru
Author : PNT Bureau
WeWork has leased a total of 143,000 square feet of office space at Embassy Golf Links Business Park in Bengaluru to IBM and OpenText. IBM secured 73,000 sq. ft., while OpenText took 70,000 sq. ft., both for two years. The growing demand for managed office spaces, particularly from the IT sector, is driving these transactions. Recent reports indicate that flexible office space in India reached 58 million square feet in the first half of 2024, with the IT sector accounting for half of the total absorption. IBM also renewed a separate lease for 830,000 sq. ft. in Bengaluru....
Century Real Estate's ultra-luxury project Codename Built Rare achieves INR 450 crore in pre-launch sales
Author : PNT Bureau
Century Real Estate, a prominent player in Bengaluru's real estate landscape for over five decades, has revealed a striking achievement with its new project, Codename Built Rare, in Indiranagar, securing INR 450 crores in sales during its pre-launch phase. Spanning 8.5 acres, this opulent development features 347 luxurious residences and an impressive array of amenities. With anticipated revenues of INR 2200 crores, it is set to redefine high-end living in one of the city's most coveted areas....
RLDA announces bids for 10,000+ sq. meter plot in Mahalaxmi, Mumbai
Author : PNT Bureau
The Rail Land Development Authority (RLDA) has announced bids for a prime railway land parcel of over 10,000 square meters in Mahalaxmi, offering immense potential for high-end residential projects, luxury hotels, and Grade-A office spaces. The site, with a reserve price of INR 805 crore and an FSI of 4.05, is expected to stimulate economic growth and transform Mumbai's skyline. Featuring dual-road access, it is suitable for diverse developments. RLDA officials anticipate strong competition, as the successful bidder will create a landmark project that sets new standards for luxury and innovation in the city's real estate market....
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