Ahmedabad's Sabarmati Riverfront plots set for auction, base price at INR 23,676 per sqm
Author : PNT Bureau
After years of delays, the Sabarmati Riverfront Development Corporation Limited (SRFDCL) in Ahmedabad is advancing with the development of four strategic plots along the Sabarmati Riverfront. With base prices set at INR 23,676 per square metre for the western plots and INR 19,982 per square metre for the eastern plots, SRFDCL aims to unlock the area's real estate potential. The initiative, part of a larger plan to develop 17 plots over 149,000 square metres, is expected to boost Ahmedabad's urban landscape, enhancing public spaces and driving future investments....
Brigade Enterprises, a leading Bengaluru-based property developer, has reported a strong financial performance for the first quarter of fiscal year 2025. The company's consolidated revenue, including other income, increased by 62% to INR 1,113 crore, driven by a significant contribution from its real estate segment. The company's profit after tax also saw a significant jump, reaching INR 80.53 crore, up from INR 21.89 crore in the corresponding quarter of the previous fiscal year. The company's diverse portfolio, spanning real estate, leasing, and hospitality, has helped it capitalize on emerging opportunities, and its recent land bank acquisitions position it well for future growth....
Fortius Infra completes 780,000 sq. ft of real estate projects in Bengaluru
Author : PNT Bureau
Fortius Infra, led by Gopi Krishnan, has completed two major real estate projects in Bengaluru: Fortius Origin, a 180,000 sq. ft commercial office in Koramangala, and Under the Sun, a 600,000 sq ft luxury villa community in Devanahalli. Partnering with Colliers India, Fortius tackled challenges like high-water tables and used innovative solutions to finish ahead of schedule. Colliers will manage leasing and facilities for Fortius Origin. These projects highlight the importance of developer-management firm collaboration to meet Bengaluru's growing demand for commercial and residential spaces. Fortius Infra's projects are set to impact the city's infrastructure and living standards positively....
Sobha Ltd expands in Gurgaon with a 12-acre residential project
Author : PNT Bureau
Sobha Ltd is enhancing its footprint in Gurgaon with a joint development agreement for a 12-acre residential project in Sector 63A, marking its third venture in the city. Sobha plans to add 9 million square feet of residential space in FY25, reflecting growing demand in the area. The Golf Course Extension is a key focus due to its high-end infrastructure. With a 28% rise in FY24 sales to INR 6,644 crore, Sobha's expansion strategy aligns with Gurgaon's booming real estate market....
Max Estates to develop a luxury residential project along Dwarka Expressway in Gurugram
Author : PNT Bureau
Max Estates is launching a luxury housing project, 'Estates 360,' along the Dwarka Expressway in Gurugram. The project, covering 2.4 million square feet, features Delhi-NCR's first "intergenerational living community," blending senior and non-senior residences. With an estimated gross development value of INR 4,000 crore, it includes 864 units, with one-third dedicated to senior living. The project, awaiting RERA approval, will launch soon, with apartment prices of around INR 5 crore. Supported by New York Life Insurance's equity investment, Max Estates maintains a strong financial position, emphasising innovative real estate solutions and community-focused living....
IT & ITeS giants double flexible workspace to 10-15%, surpassing 50 million sq ft by 2024
Author : PNT Bureau
Top IT and ITeS companies are realigning workspaces for flexibility, innovation, and sustainability, doubling flexible space in portfolios to 10-15% in 2024, surpassing 50 million square feet. This trend, driven by increasing demand from domestic and global enterprises, is expected to grow in 2025. Companies are leveraging data analytics and AI to optimise real estate strategies and exploring CRE partner models. The sector is experiencing significant changes, with an increase in outsourcing and a hybrid work model. Experts highlight the importance of transforming office spaces to enhance employee engagement, innovation, and sustainability, with substantial demand from technology firms....
NCLT approves INR 184 crore resolution plan for Satra Properties
Author : PNT Bureau
The National Company Law Tribunal (NCLT) in Mumbai has approved the acquisition of bankrupt Satra Properties by a consortium of realty developers under a INR 184 crore resolution plan. The tribunal dismissed former promoter Praful Satra's claims of undervaluation and illegality in the resolution plan. Satra's lawyer had argued that the properties in Mumbai and Jodhpur were undervalued, but the resolution professional (RP) countered that valuations were conducted by reputable firms. The tribunal noted that all stakeholders were informed and involved, and hence the resolution plan had majority approval. The Resolution Professional had received claims of about INR 719 crore....
Table Space launches 'Suites', ready-to-move-in office solutions in Chennai's IT hub
Author : PNT Bureau
Table Space has launched Suites at Global Infocity Park in Perungudi, Chennai, providing premium, ready-to-occupy offices specifically designed for GCCs, MNCs, and Fortune 500 clients. Located strategically in Chennai's IT hub, Suites occupies over 600 seats and is easily accessible from key areas. The workspace solution includes a user-friendly app for seamless booking and management, exceptional data security, and world-class EHS standards. Launched in October 2023, Suites is also available in Gurugram, Bengaluru, and Pune. This expansion, along with recent property acquisitions, underscores Table Space's commitment to providing innovative and high-quality flexible workspace solutions....
MHADA's luxury housing initiative in Goregaon faces parking shortage dilemma
Author : PNT Bureau
The Maharashtra Housing and Area Development Authority (MHADA) is entering the luxury housing market with a new 39-storey project in Goregaon, offering 332 residences. The project includes 105 3 BHK and 227 2 BHK apartments, but parking has emerged as a significant challenge. Despite a multi-level car park, not all residents will secure parking spots, with priority given to 3 BHK owners. MHADA's allocation strategy, which will be decided by the housing society, mirrors common practices but raises concerns. The project is part of a broader initiative offering 2,000 homes, with a lottery expected in September....
Court orders INR 12 crore in fixed deposits to be returned to Rose Valley fraud victims
Author : PNT Bureau
The Enforcement Directorate (ED) attached fixed deposits from the Rose Valley group, accused of defrauding investors through false schemes, under the Prevention of Money Laundering Act (PMLA). The court has now ordered these funds, amounting to INR 12 crore, to be transferred to the Asset Disposal Committee (ADC), led by a retired judge, for distribution to around 22 lakh investors. This decision is intended to provide relief while the trial, which continues to determine the full extent of the fraud and legal consequences for the group's chairman, Gautam Kundu, remains ongoing. The ED is tasked with documenting the restitution process to ensure transparency. This step follows similar efforts in high-profile cases like those of Vijay Mallya and Nirav Modi, highlighting the judiciary's commitment to addressing financial fraud and compensating victims....
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