Legal action intensifies against director of Nivas Promoters Pvt Ltd in an alleged cheating case
Author : PNT Bureau
A Delhi court has initiated proceedings to declare builder Rahul Chamola, Director of 'Nivas Promoters Pvt Ltd,' an "absconder" in a case involving alleged cheating of home buyers in a Greater Noida project. The court observed that non-bailable warrants against Chamola were returned unexecuted, citing a change of address without proper intimation. The magistrate ordered the publication of a notice in a newspaper, emphasizing concerns about the accused's attempts to avoid court appearances through frivolous grounds. The case underscores challenges faced by home buyers and raises questions about accountability in the real estate sector....
Kalpataru Projects International secures Rs 2,263-crore orders in India and abroad
Author : PNT Bureau
Kalpataru Projects International Limited (KPIL) has secured fresh orders worth Rs 2,263 crore, spanning domestic and international markets. The transmission and distribution (T&D) division obtained orders of Rs 1,564 crore, covering Indian and overseas territories. Additionally, the water division and buildings and factories sector secured orders valued at Rs 458 crore and Rs 241 crore, respectively. The company's total order inflows now stand at Rs 14,441 crore, reflecting strategic advancements in various sectors. Presently, KPIL is actively involved in executing projects across more than 30 countries, with a footprint established in over 70 nations....
AltF Coworking intends to launch 20+ co-working centres by FY 2025
Author : PNT Bureau
AltF Coworking, led by founder Yogesh Arora, plans to open 14 co-working centres in FY 2023–24 and an additional 22 in FY 2024–25, investing Rs 10 crore. Seeking $1–2 million in Q1 2024 for property acquisition, the company recently launched a 50,000-square-foot space in Okhla, New Delhi. Expansion targets Hyderabad, Pune, and Delhi NCR, recognizing challenges in tier-II and tier-III cities. Two properties opened in Noida and Gurugram in June 2023, adding to the existing 11 centres with over 5 lakh square feet of workspace and 6,000 desks. AltF's philosophy emphasizes creating optimal workspaces for happiness and efficiency....
Future-Forward Workspace Solutions: Technopark's prefab office facility takes centre stage
Author : PNT Bureau
Technopark in Thiruvananthapuram is set for a new development with the introduction of a 50,000 sq ft prefabricated office facility at the main campus (Phase 1). The initiative is inspired by the success of the Taurus Downtown project and aims to redefine workspace solutions. The tender for the project is expected to be released soon. Colonel Sanjeev Nair (Retd), CEO of Park Centre at Technopark, highlighted the significance of prefabrication for accommodating parking companies, offering time-saving benefits and potentially reducing the load on the queue system. The project aligns with Technopark's focus on optimizing existing infrastructure and enhancing marketability....
Wave City’s Veridia launches a new tower offering 4 & 5 BHK apartments
Author : PNT Bureau
Wave City's Veridia project has unveiled an additional tower, enhancing the residential experience. With possession underway in Tower 1 and Tower 2, which have received completion certificates, over 600 families have already booked their homes. The development offers world-class amenities, including the expansive Oakwood clubhouse with facilities like a swimming pool, gym, library, multipurpose halls, and more. Veridia, launched in 2021, is located along the National Highway-24. The project offers 4 BHK and 5 BHK ultra-spacious floors with charging points for electric vehicles and home automation provisions....
ED's crackdown continues as a second arrest is made in Shine City money laundering probe
Author : PNT Bureau
In a major development, the Enforcement Directorate (ED) has made its second arrest in connection with the money laundering investigation linked to Shine City in Lucknow. Abhishek Kumar Singh, identified as a key figure in facilitating the laundering of illicit proceeds, was apprehended from Sitapur. The investigation originated from approximately 250 FIRs against Rasheed Naseem and Shine City Group of Companies, accused of orchestrating a financial scheme that allegedly siphoned off Rs 800-1000 crore from the public. Singh's role in aiding Naseem in collecting, concealing, and laundering the ill-gotten gains has come under scrutiny, highlighting the complex web of financial misconduct surrounding Shine City....
Brigade Enterprises unveils 'Brigade Sanctuary' in Whitefield, Bengaluru
Author : PNT Bureau
Brigade Enterprises unveils 'Brigade Sanctuary,' a premium residential project spanning 14 acres on Whitefield-Sarjapur Road, Bengaluru. The joint development features 1275 units with 1-, 3-, and 4-bedroom homes, boasting a gross revenue potential of Rs. 2,000 Cr. Positioned strategically for easy access to Sarjapur, Varthur, Whitefield, and the outer ring road, the project prioritizes comfort, functionality, and aesthetics. Brigade Group commits to preserving over 500 trees, maintaining 80% open spaces, and providing a 32,000 sq ft clubhouse and 35 modern amenities. The project incorporates diverse natural elements and has set a completion target for December 2028....
Amrapali Group projects gets a 450cr revenue boost from GNIDA for additional construction
Author : PNT Bureau
The Greater Noida Industrial Development Authority (GNIDA) green-lit extra construction in Amrapali Group projects supervised by NBCC, foreseeing a revenue boost of Rs 450 crore. This adjustment involves raising the floor area ratio (FAR). The Amrapali Group, which is in financial turmoil, owes GNIDA nearly Rs 5,200 crore. GNIDA stands fourth in the creditor line. The present approval is part of extensive discussions with the court receiver to benefit stakeholders, notably homebuyers. This strategic move aims to address the complexity surrounding Amrapali's projects and contribute to a comprehensive resolution process....
Birla Estates unveils Rs 45,000 crore project pipeline in Mumbai and Bengaluru
Author : PNT Bureau
Birla Estates Pvt Ltd, the real estate arm of the Aditya Birla Group, has unveiled a project pipeline with a gross development value (GDV) of Rs 45,000 crore. CEO K T Jithendran announced plans, including the launch of the second phase of the Birla Niyaara project in Mumbai's Worli area, offering 8.5 to 9 lakh sq ft of saleable area. With acquisitions in Walkeshwar, Mumbai, and RR Nagar, Bengaluru, the company aims for a gross pre-booking value of Rs 3,000 crore. Birla Niyaara, priced at approximately Rs 80,000 per sq ft, emerged as the highest-selling project in the Mumbai Metropolitan Region in CY2022....
Runwal Group eyes 10 million sq ft expansion for mixed-use development
Author : PNT Bureau
Runwal Group recently reviled ambitious plans for the current financial year, aiming to acquire 10 million square feet for mixed-use development with a substantial investment of approximately Rs 1,500 crore. With an impressive land bank of nearly 55 million square feet in Mumbai, the company seeks a 20% growth from the previous year's revenue exceeding Rs 3,000 crore. Their diversified portfolio spans affordable, mid-segment, and luxury housing, alongside ventures into commercial and retail segments. Expansion plans include entry into Pune, slum rehabilitation projects, and upcoming launches in affordable and luxury housing sectors, reflecting a strategic vision for sustained growth and market responsiveness....
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