GGF launches first ultra-luxury residential project in South Delhi's Anand Niketan
Author : PNT Bureau
Golden Growth Fund (GGF) has entered South Delhi's luxury real estate market with a prime land acquisition in Anand Niketan. This project will transform the site into an ultra-luxury residential development featuring four spacious units totaling 17,000 square feet. CEO Ankur Jalan emphasized the limited luxury housing supply in South Delhi and GGF's focus on high-quality, low-density projects. Backed by Grovy, a seasoned developer, GGF aims to establish itself as a key player in Delhi's luxury real estate sector. This inaugural project underscores GGF's commitment to creating high-value, luxurious living spaces and ensuring profitable investments for its stakeholders....
Bakshi Group's Central Park prepares for IPO with projects worth INR 10,000 crore in the pipeline
Author : PNT Bureau
Central Park, the real estate development subsidiary of Indian conglomerate Bakshi Group, is planning to list its realty business on the stock exchanges within the next 2-3 years. The company aims to launch projects worth INR 10,000 crore in FY25 and expects sales to reach the same figure in time for its IPO. Central Park currently has a vast land bank spread across Gurugram and is in the process of appointing an auditor to transition to a publicly listed structure. To fuel future growth, the developer will launch multiple residential and commercial projects in the upcoming years across Sohna, Dwarka Expressway, and other key markets....
Signature Global expands in Gurugram with the acquisition of two land parcels
Author : PNT Bureau
Signature Global (India) Limited (SGIL) is strengthening its presence in Gurugram with two significant land acquisitions through its subsidiaries, Sternal Buildcon and Signatureglobal Homes. In Sector 37D, a plot of approximately 3.80625 acres will accommodate around 6 lakh square feet of residential space, capitalizing on the area's growth potential. Additionally, a larger 14.65-acre plot in Gadauli Kalan offers potential for about 2.7 million square feet of development. These acquisitions highlight SGIL's proactive strategy to meet rising housing demands, focusing on affordable and mid-range segments in Gurugram's competitive real estate market....
Sobha Limited announces INR 2,000 crore rights issue to support growth plans
Author : PNT Bureau
Sobha Limited, a real estate developer, plans to raise INR 2,000 crore through a rights issue aimed at enhancing its financial capacity and supporting growth initiatives. Existing shareholders will have the opportunity to purchase discounted shares, ensuring they maintain or increase their ownership stakes. The funds will be allocated towards investing in new projects, expanding operational capabilities, and fortifying Sobha's market position amidst competitive pressures. This strategic move underscores Sobha's commitment to long-term value creation for shareholders and its confidence in capturing future growth opportunities in the Indian real estate sector....
Brigade Enterprises announces INR 8,000 crore investment plan in Chennai
Author : PNT Bureau
Brigade Enterprises aims to establish Chennai as its second-largest market with a massive INR 8,000 crore investment by 2030. Focused on residential, office, retail, and hospitality sectors, the company plans to develop over 15 million square feet, projecting a Gross Development Value (GDV) exceeding INR 13,000 crore. Highlighted by the launch of Brigade Icon Residences, a luxury development with INR 1,800 crore GDV, Brigade aims for 15-20% CAGR in residential revenue. This strategic initiative underscores Brigade's confidence in Chennai's economic growth, positioning the city as a pivotal hub in India's burgeoning real estate landscape....
Raymond Realty secures Bandra East redevelopment project worth over INR 2,000 crore
Author : PNT Bureau
Raymond Realty has secured the redevelopment rights for MIG VI CHS Ltd in Mumbai's prime Bandra East neighborhood. This 2-acre project is estimated to generate revenue exceeding INR 2,000 crore. It marks Raymond Realty's fourth project in Mumbai, reinforcing its strategic expansion in the city. The redevelopment aligns with Raymond Limited's broader growth plans in the Mumbai Metropolitan Region (MMR), complementing their ongoing 100-acre development in Thane, projected to generate INR 25,000 crore. This move underscores Raymond's shift from textiles to real estate, promising significant new revenue streams in the coming years....
MoEngage expands with 450 additional seats at 315Work Avenue in Bengaluru
Author : PNT Bureau
MoEngage, a US-based customer engagement platform, is expanding its Bengaluru operations by leasing an additional 450 seats at 315Work Avenue, doubling its space to 45,000 square feet. This move underscores the growing trend of businesses opting for co-working spaces for flexibility and scalability. 315Work Avenue provides customized, modern workspaces that cater to MoEngage's needs, enhancing employee productivity. Manas Mehrotra, Founder of 315Work Avenue, emphasized their commitment to client satisfaction. This expansion reflects India's booming demand for co-working spaces, projected to comprise 20% of the office market by 2030, driven by the need for adaptable and cost-effective work environments....
Brigade Enterprises boosts to invest INR 1,500 crores in expanding residential development
Author : PNT Bureau
Brigade Enterprises is ramping up its investment in residential projects, planning to spend INR 1,200-1,500 crore annually on land acquisitions. The company has around 16 million square feet of planned development, with 12.5 million square feet dedicated to residential projects in major cities. This move follows a 14% rise in housing sales in early 2024, driven by demand for luxury apartments. Brigade also plans to expand its hospitality and commercial portfolios, including 1,000 new hotel rooms and 2 million square feet of office space. This diversified approach aims to capitalize on the booming real estate market in India....
WeWork India invests INR 400 crore for annual expansion of 2 million sq. ft. workspace
Author : PNT Bureau
WeWork India is investing INR 400 crore annually to expand its flexible workspace offerings across India's top 7-8 cities. This capital expenditure plan aims to add nearly 2 million square feet of office space each year, responding to the growing demand for flexible work environments. Recently, WeWork India entered the Chennai market with a 130,000 square feet workspace in the Guindy industrial corridor, expanding its presence to eight cities. The funding for this expansion will come from internal resources and strategic partnerships, including co-funding with landlords and revenue-sharing agreements. WeWork India's diverse offerings include co-working spaces, private offices, and managed office solutions, catering to a broad range of business needs....
India's office market sees 164.3 million sq. ft of new grade A spaces
Author : PNT Bureau
India's office market is booming post-pandemic, with a strong preference for modern, high-quality office spaces. A JLL report reveals that from 2021 to Q1 2024, 164.3 million sq. ft of new Grade A office buildings were added nationally. Enthusiastic demand has led companies to lease over 113 million sq. ft since 2021, with 94.3 million sq. ft (80%) of this in new constructions. Southern cities like Bengaluru, Hyderabad, Chennai, and Pune lead this trend, capturing 84% of Global Capability Center (GCC) leasing. Modern buildings with better amenities and sustainability features are increasingly preferred, highlighting a shift towards contemporary work environments that boost employee well-being and productivity....
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