Puravankara acquires 2.3 acres in Hebbal for INR 135 crore for office space expansion
Author : PNT Bureau
Puravankara, a prominent real estate developer in India, is expanding its commercial portfolio by acquiring 2.3 acres of land in Bengaluru for approximately INR 135 crore. The company aims to develop 3 million square feet of office space over the next four to five years, anticipating rental income growth to INR 500 crore. Recently, they announced plans to acquire 20 million square feet of land by the financial year's end, focusing on both outright purchases and redevelopment to boost residential and commercial project launches in major markets like Mumbai, Bengaluru, and the Delhi-National Capital Region....
NBR Group to develop 9 lakh sq ft luxury housing project in Bengaluru's Sarjapur-Mullur
Author : PNT Bureau
NBR Group, a Bengaluru-based real estate developer, has acquired a 9.65-acre land parcel in the Sarjapur-Mullur suburb to develop a high-rise residential project covering 9 lakh square feet, projected to generate over INR 1200 crore. This area is rapidly gaining popularity due to its strategic location and ongoing infrastructure improvements, attracting tech professionals and families seeking affordable housing options. Meanwhile, Bengaluru's residential market is booming, with a 30% increase in home sales value in Q2 2024, reflecting sustained demand from buyers and investors alike....
Max Estates and New York Life forge strategic partnership to transform NCR Real Estate landscape
Author : PNT Bureau
Max Estates Limited has successfully completed a transaction with New York Life Insurance Company, which acquired a 49% stake in Max Towers and Max House (Phase I & II) for INR 391 crore. This marks a significant milestone in their partnership, with New York Life now committing a total of INR 1,200 crore to Max Estates. The capital infusion enhances Max Estates' ability to expedite growth across commercial and residential real estate sectors. With plans to allocate funds towards expanding into the residential market, the company aims to acquire at least 3 million square feet of development opportunities annually in the NCR region....
Prestige Pine Forest: Luxury 3 and 4 BHK apartments in Whitefields, Bengaluru
Author : PNT Bureau
Prestige Group, a leading real estate developer, has introduced its new luxury project, 'Prestige Pine Forest', in Whitefield, Bangalore. With sales potential estimated at INR 1,100 crore, the project offers spacious 3 and 4 bedroom apartments designed for comfort, privacy, and luxury. Located near IT parks and top schools, it provides excellent connectivity for professionals and families. Prestige Pine Forest features green spaces and premium amenities, setting a new standard for upscale living in Bangalore....
Casagrand files IPO documents with SEBI to raise INR 1,100 crore
Author : PNT Bureau
Chennai's Casagrand Premier Builder has submitted a draft red herring prospectus (DRHP) to SEBI, seeking to raise INR 1,100 crore through an IPO. This plan encompasses a fresh issue of INR 1,000 crore and an offer for sale of INR 100 crore. The company enjoys a notable market share of approximately 24% in launches and 20% in demand within Chennai's residential sector. It intends to utilise the funds for repaying certain borrowings and enhancing its digital infrastructure. With 101 completed projects and 42 ongoing, Casagrand is also expanding into Bengaluru, Hyderabad, and Coimbatore, demonstrating significant growth in revenue and profits recently....
YEIDA offers 1,239 flats for sale in Sector 22D under first-come, first-served policy
Author : PNT Bureau
The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced a housing scheme in Sector 22D, strategically located near the Noida International Airport, Film City, and Toy Park. This initiative offers 1,239 flats across three categories, with prices ranging from INR 21 lakh to INR 45 lakh, available on a first-come, first-served basis. Bookings commenced on September 19 and will continue until March 31, 2025. Notably, 17.5% of the flats are reserved for farmers affected by land acquisition for development. The project promises excellent connectivity to key economic hubs and attractions....
Womeki Group launches INR 350 crore luxury project "Eye of Goa" in Sindhudurg, Maharashtra
Author : PNT Bureau
Womeki Group has launched Eye of Goa, a INR 350-crore luxury residential project along Kalavi Beach in Sindhudurg, Maharashtra. This 78-acre development blends modern architecture with eco-conscious design, reserving 65% of the area for green spaces. The project offers spacious villa apartments and plots priced between INR 50 and 60 lakhs, with an emphasis on sustainability, using energy-efficient systems and green materials. With its scenic coastal location, proximity to Goa, and focus on luxury, the project is expected to attract significant interest from homebuyers and investors alike....
NCLT addresses homebuyers concerns in Supertech Ltd case
Author : PNT Bureau
The National Company Law Tribunal (NCLT) has directed the interim resolution professional (IRP) to respond to applications from over 26,000 homebuyers of Supertech Ltd. Authorized Representatives, representing 26,500 buyers from eleven projects, submitted a 'Common IA' to protect their rights. They support NBCC's takeover, provided the plan is favorable to them. Key demands include a forensic audit of Supertech, removal of its management, and no price increases for existing buyers. The court has invited feedback from stakeholders, while support for NBCC grows among homebuyers....
Arkade Developers' IPO sees robust investor interest with nearly 70x subscription
Author : PNT Bureau
Arkade Developers' IPO, priced between INR 121-128 per share, opened from 16 to 19 September 2024, aiming to raise INR 410 crores. The offering, which includes only new shares, saw strong interest, being subscribed nearly 70 times, with significant contributions from anchor investors who provided INR 122.40 crore. The proceeds will fund current and future projects, including land acquisitions. Arkade Developers, known for high-end residential properties in Mumbai, has developed 1.80 million square feet and sold 792 units since 2017. The shares, managed by Unistone Capital, are set to be listed on 24 September 2024....
Wave Group to reduce land holdings in Ghaziabad Township
Author : PNT Bureau
Wave Group is divesting part of its land bank in Wave City, Ghaziabad, to boost cash flow, with plans for approximately 12 million square feet of development by various builders. The company also aims to launch a project offering seven million square feet of premium and affordable housing. Demand for premium apartments has surged, causing a nearly 30% price increase in the secondary market. In contrast to prices in Noida and Gurgaon, which exceed INR 15,000 and INR 20,000 per square foot, Wave City offers rates below INR 9,000. Currently, over 4,000 families reside in the township....
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