Signature Global achieves record sales of Rs 1,262.73 crore in Q3 FY 24
Author : PNT Bureau
Signature Global, the Delhi NCR based real estate developer, reports a robust 47% surge in Q3 FY 2023-24 sales bookings, reaching Rs 1,262.73 crore. Sales of 1,179 units, up from 1,089 in 2022, contributed to this growth. In the first nine months, a 41% increase in sales bookings was recorded, totalling Rs 3,124.12 crore. The successful IPO in September 2023, raising Rs 730 crore, showcases investor confidence. CEO Rajat Khaturia outlined ambitious plans for residential projects spanning 21 million square feet in the next six to seven years....
Arihant Superstructures unveils sprawling low-rise township project near Panvel
Author : PNT Bureau
Arihant Superstructures Limited has revealed plans for a new Low-rise township project covering 118 acres near Panvel, Navi Mumbai. The project, acquired through outright purchase and Joint-Venture transactions, holds a development potential of 2 million sq. ft. Situated close to Chowk Railway Station, integral to the Panvel-Karjat Railway Corridor, it expands the company's land bank to over 335 acres. The strategic location aligns with Navi Mumbai International Airport & MTHL developments, totaling a gross potential of 12 million sq. ft. The due diligence process is underway, targeting completion within six months, as the company reports substantial revenue growth in FY23....
Tribeca Developers and Tejukaya Group announce premium project in Parel, Mumbai
Author : PNT Bureau
Tribeca Developers, known for Trump-branded projects, has partnered with Tejukaya Group to develop a luxury residential project in Mumbai’s Parel, marking its entry into Mumbai's prime real estate market. Backed by HDFC Capital, the 2.5-acre project under the Cluster Redevelopment Policy will feature over 400 luxury residences with an estimated Rs 1,800 crore sale value. Tribeca's founder, Kalpesh Mehta, highlighted the strategic move after 10 years of landmark projects across India. The project has secured necessary approvals and is expected to launch in Q1 2024-25, offering 2-3 bedroom apartments priced between Rs 3.5 crore and Rs 6 crore....
Siddha Group has teamed up with Sejal Group for an attractive Makar Sankranti offer on their Siddha Sky affordable luxury building in Sion NX, Mumbai. The deal includes 0% stamp duty, no registration cost, and a 25:75 Builder Subvention Scheme. Celebrating new beginnings, Mr. Samyak Jain, the Director, is excited to help buyers start a new chapter. Siddha Sky boasts five 40-storey towers with a unique Rooftop Skywalk featuring a 22,000 sqft Club, Sky Lounge, and more. Strategically located near major transportation links, this offer aims to make dream homes more accessible, showcasing Siddha Group's commitment to redefining living spaces....
Prestige Estates sales doubled to Rs 5,326 crore in Q3 FY24
Author : PNT Bureau
Bengaluru-based Prestige Estates Projects Ltd. reports a remarkable rise in sales bookings, reaching Rs 5,326.1 crore in Q3, reflecting a 111% YoY increase. The success is driven by strong demand for residential properties, with 5.46 million sq ft sold at an average realization of Rs 9,762 per sq ft. Sales for April to December FY24 show an annual rise of 81%, totaling Rs 16,333.4 crore. Notable Q3 projects include the Prestige City in Hyderabad, Prestige Ocean Towers in Mumbai and Prestige Glenbrook in Bengaluru. The company, having completed 12 million sq ft, plans key projects in Bengaluru, Mumbai and Chennai for further sales growth....
MHADA to complete the R.K. building redevelopment in Dadar, Mumbai after a decade
Author : PNT Bureau
The Maharashtra Housing and Area Development Authority (MHADA) has received approval from the state housing department to take over the stalled redevelopment project of R. K. Building 1 and 2 at Ranade Road, Dadar West. The redevelopment of the Swami Samarth Krupa Building project spread across 946 square metres, was halted on the 9th floor in 2014, leaving tenants without rent for a decade. Following government authorization in August 2023, MHADA can intervene in projects inactive for over two years. Based on this, the Mumbai Building Repair and Reconstruction Board proposed MHADA's takeover, which includes scrutiny for third-party rights and loans, blacklisting the owner and developer, and filing a complaint with the BMC....
DLF's Privana South sets new records with Rs 7,200 crore pre-launch sales
Author : PNT Bureau
Real estate giant DLF reported a remarkable achievement, selling over 1,000 luxury housing units in its pre-launch phase for the Privana South project in Gurugram. The sales, totaling Rs 7,200 crore, were completed within three days, showcasing high demand. Covering 25 acres in Sectors 76 and 77 of Gurugram, the upscale community offers 1,113 well-thought-out premium homes. DLF emphasized its commitment to high-rise luxury developments and strategic positioning near Southern Peripheral Road, NH-48, Dwarka Expressway, and Central Peripheral Road. This success follows DLF's similar feat in March 2023, underscoring sustained demand for its upscale offerings....
Vihang Group's Rs 850 crore plan to reshape Thane's skyline
Author : PNT Bureau
Thane-based Vihang Group is set to invest over Rs 850 crore in four real estate projects spanning 5 million sq ft to meet the housing demands of Thane. Emphasizing a revenue potential exceeding Rs 2,000 crore, the developments aim to offer aspirational living for millennials. Vihang Group, committed to sustainability, plans to fund the projects through a mix of equity, working capital, and customer advances, targeting completion by 2027. With 80% focused on residential spaces and 20% on lifestyle, hospitality, and education, the initiative aligns with the evolving preferences of Thane's housing market, marking a strategic expansion....
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has granted a one-year extension to the under-construction Palais Royale tower in Worli, Mumbai. The developer, Honest Shelters Pvt Ltd, sought the extension due to pending litigation. Despite observations by MahaRERA chairperson Ajoy Mehta about the lack of a two-thirds majority consent from homebuyers and outdated Quarterly Progress Reports, the extension was approved to ensure project completion under RERA provisions. The order mandated obtaining an Occupancy Certificate by December 30, 2024, and updating all reports. Palais Royale, initially promoted by Shreeram Urban Infrastructure Ltd, faced delays and legal challenges before its clearance in 2019....
Tridhaatu Morya in Chembur receives Occupancy Certificate
Author : PNT Bureau
Tridhaatu Realty recently received the Occupancy Certificate for the first phase of Tridhaatu Morya, a high-end residential project in Chembur, Mumbai. The development of this project will unfold in two phases; phase 1 will feature 1 & 2 BHK units and phase 2 will have larger 2 & 3 BHK configurations, including provisions for Jodi flats. Amenities include a grand entrance lobby, clubhouse, landscaped gardens, and eco-friendly features like solar panels. Situated strategically in Chembur, the project ensures seamless connectivity and access to essential services, solidifying its appeal....
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