Emperium Premio launches in Gurugram with 216 luxury units
Author : PNT Bureau
Emperium's new luxury project, Emperium Premio, is set to transform Gurugram's real estate landscape. Located in Sector 37C along the Dwarka Expressway, Premio offers 216 apartments in 2, 3, and 4 BHK configurations, plus penthouses, ranging from 1308 to 3600 square feet. Each unit features premium fittings, modular kitchens, and a focus on sustainability with rainwater harvesting and energy-efficient systems. The project includes upscale amenities like a double-height lobby, rooftop pool, and fitness centre. Ravi Saund and Hardeep Singh, Founding Directors of Emperium, promise a blend of luxury, convenience, and eco-friendly living....
NCLT approves Oberoi Constructions' INR 273 crore resolution plan for Nirmal Lifestyle Realty acquisition
Author : PNT Bureau
The National Company Law Tribunal (NCLT) has approved Oberoi Constructions' INR 273 crore resolution plan to acquire Nirmal Lifestyle Realty, which has been undergoing a corporate insolvency resolution process (CIRP) since December 2021. This acquisition includes a land parcel in the eco-sensitive zone of Sanjay Gandhi National Park, with a 180-day window to obtain necessary approvals. The resolution plan cancels Nirmal's existing equity shares and transfers ownership to Oberoi Constructions. This decision highlights structured processes and regulatory compliance in corporate restructuring under the Insolvency and Bankruptcy Code (IBC)....
Godrej Properties acquires 90 acres in Khalapur for 1.7 million sq. ft. residential project
Author : PNT Bureau
Godrej Properties Limited (GPL) has acquired a 90-acre land parcel in Khalapur, Raigad district, Maharashtra, with plans to develop 1.7 million square feet of residential plotted developments. Positioned near the Karjat-Khopoli Road, this strategic acquisition caters to the growing demand for customizable housing options. The move aligns with GPL's aggressive expansion, including recent acquisitions in Greater Noida, and reflects the company's focus on meeting the needs of modern homebuyers seeking flexibility and space in emerging suburban areas....
Max Estates secures Noida Authority approval for Delhi One Project
Author : PNT Bureau
Max Estates has received approval from the Noida authority for its 'Delhi One' commercial project in Sector 16B, following the settlement of INR 613 crore in dues. The project, initially stalled due to financial issues, will now proceed after Max Estates agreed to a payment plan under a resolution plan approved by the NCLT in February 2023. The development will add 2.8 million square feet of office and residential space, with significant portions already constructed. This approval marks a crucial step for Max Estates and underscores Noida's commitment to advancing commercial real estate and economic growth....
Ashiana Housing and Arihant Foundations launch INR 225 crore senior living project Swarang in Chennai
Author : PNT Bureau
Ashiana Housing and Arihant Foundations are investing INR 225 crore in a senior living residential project, Swarang, in Nemmeli, Chennai. Spanning 10.87 acres on the East Coast Road, this luxury project is set to generate INR 450 crore in sales. Swarang will offer 1 to 3 BHK units and penthouses, priced between INR 84 lakh and INR 2.08 crore, with the first phase completing by September of 2027. Featuring amenities like sports facilities, gyms, and 24/7 security, Swarang caters to Chennai's growing senior population. This marks Ashiana's ninth senior living project in India and third in Chennai....
500,000 homes stalled as project delays persist across major cities in India
Author : PNT Bureau
India's real estate sector is grappling with about 500,000 stalled homes, impacting nearly one-fifth of under-construction projects, according to PropEquity. Major cities like Mumbai and Greater Noida are most affected, with delays often stretching three to four years. Despite the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, which raised INR 15,530 crore, only 32,000 units have been completed. Legal disputes and financial mismanagement further complicate the situation. The Real Estate Regulation and Development Act (RERA) aims to improve transparency, but challenges persist. Enhancing oversight and streamlining approvals are crucial for revitalizing the sector....
Maestro Realtek and GS Group partner for landmark commercial project on Kesnand Road, Pune
Author : PNT Bureau
Maestro Realtek has partnered with GS Group for a landmark commercial and retail project on Kesnand Road, Wagholi, Pune. Spanning 5.5 acres, the development will feature five state-of-the-art towers with premium offices and retail showrooms, offering unparalleled opportunities for businesses and investors. Nitin Gupta, Managing Director of Maestro Realtek, emphasized the partnership's goal to set new benchmarks in commercial real estate, enhancing business growth and innovation. With advanced infrastructure and strategic location, this collaboration is poised to redefine the commercial landscape in Wagholi. Maestro Realtek is committed to delivering results-driven solutions and becoming India's top real estate brand....
Incuspaze leases 400,000 sq. ft. in Noida to meet rising demand for coworking spaces
Author : PNT Bureau
Incuspaze, a leading coworking space provider founded in 2016 by Sanjay Choudhary, has expanded its portfolio by leasing 400,000 square feet in Noida's Alphathum building. This move addresses the increasing demand for flexible workspaces, particularly among multinational corporations (MNCs). With 44 centres across 18 cities, Incuspaze now manages 3.5 million square feet of coworking spaces. Partnering with Bhutani Group, Incuspaze aims to offer innovative office solutions featuring modern amenities and flexible leases. The collaboration reflects the growing preference for adaptable workspaces amid the rise of hybrid work models, positioning Incuspaze to meet the evolving needs of businesses....
Kotak Investment Advisors Ltd. (KIAL) has committed INR 450 crore to revive Supertech's stalled project in Sector 94, Noida, alongside an additional INR 310 crore to repay existing lenders. The 5 million-square-foot development, already 50% complete, includes NCR's tallest residential tower. The project, expected to generate over INR 7,000 crore in revenue, will proceed with Supertech, KIAL, and the Noida Authority managing the escrow account. Supertech's liabilities total INR 8,000 crore, but with project receivables exceeding INR 14,000 crore, the company remains financially viable as it works to deliver over 15,000 homes....
L&T Realty and Valor Estate invest INR 8,500 crore in luxury mumbai project
Author : PNT Bureau
L&T Realty has partnered with Valor Estate to develop a residential project in Bandra Reclamation, Mumbai, with an investment of over INR 8,500 crore. The project will cover 7.5 acres and feature 1.6 million square feet of luxury housing, including a planned 200-key hotel. Valor Estate will retain 20% of the revenue if sales are below INR 55,000 per square foot, with potential to increase to 27% if sales exceed INR 80,000. The development, delayed since 2006, aims to be completed in five to six years and includes rehabilitating 1,050 tenements by 2027-28....
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