Pune: 315Work Avenue takes on extra 56,000 sq. ft. of office space
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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....
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