Unitech Board requests court approval for the release of properties seized by the ED
Author : PNT Bureau
The Unitech Group's government-appointed board has filed a petition seeking the release of INR 1,257 crore in assets seized by the Enforcement Directorate during a money-laundering investigation into alleged fraud by former promoters. The ED has shown willingness to restore these properties, which would allow the board to resume construction on stalled projects, helping thousands of waiting homebuyers. The board claimed that the diversion of funds resulted in liabilities over INR 25,000 crore and significant losses. It proposed delivering homes at the original booking prices, despite increased construction costs, while highlighting the need to restore the detained properties....
Chevron leases 0.3 million sq. ft. in Bengaluru for new engineering and innovation centre
Author : PNT Bureau
Chevron Corporation has partnered with RMZ Corporation to establish the Chevron ENGINE, an engineering and innovation centre in Bengaluru, leasing around 0.3 million square feet of commercial space. This state-of-the-art facility aims to harness India's skilled workforce and address global energy challenges, contributing to economic growth. RMZ plans to expand its office portfolio to 50 million square feet across six cities. Both companies underscore India's appeal as a destination for multinational corporations, with a focus on advanced, technology-driven workspaces that promote local talent and support the future of the energy sector....
Adani Realty celebrates Ganesh Chaturthi with a dazzling light display of Lord Ganesha in Mumbai
Author : PNT Bureau
Adani Realty has added a special touch to this year's Ganesh Chaturthi celebrations with a striking visual tribute to Lord Ganesha. Their projects, Views and Ten BKC, feature homes illuminated to create a captivating image of the deity, lighting up Mumbai's skyline. This unique display blends modern real estate design with the festive spirit, turning the developments into festive landmarks. The tribute has received widespread admiration from both locals and visitors for seamlessly incorporating cultural reverence into contemporary spaces, becoming a key highlight of the city's celebrations and solidifying Adani Realty's commitment to blending innovation with tradition....
Belicia in Thane achieves major milestone with INR 200 crore revenue in Q1 FY 2024-25
Author : PNT Bureau
Belicia, a luxury residential project in Thane, developed by Prescon Group and House of Hiranandani, generated over 200 crores in Q1 FY 2024-25, selling more than 80 units. The 48-storey tower, offering 2, 3, and 4 BHK apartments, redefines upscale living with modern amenities and prime location advantages. Set for possession in June 2028, Belicia enjoys proximity to key transport, educational, and healthcare facilities. A report by Prop Equity highlights Thane's robust real estate market, supported by infrastructure projects like the Thane Integral Ring Metro Rail, boosting growth and investment potential....
Awfis leases a 30,221-square-foot co-working facility in GIFT City, Gandhinagar
Author : PNT Bureau
Awfis, India's leading flexible workspace provider, has launched a new 30,221 sq. ft. centre in GIFT City, Gandhinagar, positioning itself as the sole flexible space provider within a Grade-A development in this premier financial and technology hub. This expansion boosts Awfis' footprint to 83,500 sq. ft. in Ahmedabad. Chairman Amit Ramani highlighted the growing demand for scalable, adaptable office solutions, emphasising that flexible workspaces represent the future of commercial real estate. Awfis aims to expand by adding 40,000 new seats in FY25, pushing its total capacity to 135,000, reinforcing its leadership in India's growing workspace sector....
TREVOC Group launches luxury project 'Royal Residences' in Golf Course Road, Gurugram
Author : PNT Bureau
TREVOC Group has launched TREVOC Royal Residences in Sector-56, Gurugram. This high-end residential project is expected to generate INR 1000 Crore in revenue and features 172 luxury apartments spread across 27 floors. It offers cutting-edge design, a top-tier clubhouse, and a Skydeck with sweeping views. Emphasizing TREVOC's 75-year legacy, the project integrates innovation, functionality, and sustainability. The company is also set to deliver over 5 million square feet of residential space and 1 million square feet of commercial space, alongside plans to develop 75-100 acres of land for future projects....
Bric-X Infra celebrates 5th anniversary, gears up for expansion and diversification
Author : PNT Bureau
Bric-X Infra, a leading player in the real estate industry, is celebrating its 5th anniversary, a milestone that reflects its remarkable growth and commitment to excellence. The company plans to expand its footprint in the Delhi NCR region, launch new verticals in the commercial real estate and luxury residential segments, and introduce a specialized venture to cater to the growing demand from Non-Resident Indians (NRIs) for both residential and commercial real estate investments in India. With its strategic expansion plans, diversified offerings, and dedicated service for NRI clients, Bric-X Infra is set to solidify its position as a dominant force in the dynamic real estate market....
Table Space acquires Kalyani Camellia in Whitefield, Bengaluru for INR 500 crore
Author : PNT Bureau
Table Space has acquired 500,000 sq ft of office space at Kalyani Camellia in Whitefield, Bengaluru, for approximately INR 500 crore, marking its second owned asset in the city. Founded in 2017, the company specializes in custom and managed office solutions, operating over 60 centers in seven Indian cities with more than 9.5 million sq ft of workspace. Post-COVID, demand for flexible workspaces has surged as companies adopt hybrid models. This acquisition follows Table Space's earlier purchase of Panchshil Towers in Pune and underscores Bengaluru's importance, contributing 46% of the company's revenue. The expansion solidifies Table Space's leadership in India's flexible workspace market....
Unitech resumes long-delayed Noida housing projects after revised layout approval
Author : PNT Bureau
Unitech is set to resume its long-delayed housing projects in Noida following the Noida Authority's approval of a revised layout in June 2023, per a Supreme Court directive. Last week, a bhoomi puja was conducted for the Express City project in sectors 96, 97, and 98. The revised plan includes seven towers in Amber, seven in Burgundy, and 397 plots in The Willows, with a mix of residential, recreational, and institutional spaces. Unitech aims to complete these projects within 26 to 36 months, addressing delays and rebuilding buyer confidence....
VTP Realty opens first overseas sales office in Dubai to cater to NRI investors
Author : PNT Bureau
VTP Realty has expanded internationally with its first sales office in Dubai, targeting NRIs in the GCC region who are interested in investing in Pune real estate. This new office offers direct access to VTP's renowned portfolio of high-quality projects in Pune, streamlining the investment process for NRIs. The expansion features convenient services like flexible payment plans and E-Registration, allowing clients to complete transactions without travelling to India. This move highlights VTP Realty's dedication to enhancing global accessibility and solidifies its ambition to offer premier Pune properties to a worldwide audience....
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