24 Jan 2024

Macrotech Developers, anticipates Palava City, to become an annual revenue powerhouse surpassing USD 1 billion. Established in 2010, the 5,000-acre Palava City has evolved into a self-sustaining ecosystem, showcasing urban progress. With Phase 1's success and ongoing Phase 2 expansion, it accommodates residential and commercial spaces, including offices, life sciences hubs, and industrial areas. Palava's strategic location has attracted diverse businesses, joint ventures with Morgan Stanley Real Estate Investing and partnerships with Bain Capital and Ivanhoe Cambridge. The development's economic vibrancy is set to contribute 15% to Lodha's sales exceeding Rs 14,500 crore in the current fiscal year. Beyond being a residential hub, Palava City stands as a testament to sustainable growth and economic vitality, with smart technology ensuring efficiency and green practices.Read more

24 Jan 2024

Suraksha Group, a leading Mumbai-based real estate firm, proudly unveils Suraksha Smart City, a highly anticipated township initiative in Vasai. Recently honoured by the Maharashtra Chamber of Housing Industry for the Best Affordable Project, this sprawling 300-acre integrated township is positioned as one of the largest greenfield developments in Vasai-Virar. Offering well-designed apartments with a focus on natural light and ventilation, the mega township is strategically located just a short walk from Vasai Station. Suraksha Smart City offers lifestyle amenities and essential social infrastructure, including schools, colleges, hospitals, playgrounds, markets, and community centres.Read more

23 Jan 2024

Mumbai-based Keystone Realtors, operating under the 'Rustomjee' brand, witnessed a robust 26% annual growth in sales bookings, totaling Rs 1,423 crore during April-December 2023. The company, focusing on Mumbai Metropolitan Region housing projects, reported a 9% rise in sales bookings volume, reaching 0.82 million sq ft. Customer collections surged by 32% to Rs 1,533 crore during this period. Keystone Realtors launched four projects in the first nine months of the fiscal, with an estimated sales value of Rs 2,238 crore. With a completed area of 23 million sq ft and a pipeline exceeding 39 million sq ft, the firm maintains a substantial project portfolio.Read more

23 Jan 2024

Bangalore-based real estate developer Sobha Ltd has completed a Rs 121 crore payment to Gurgaon-based Chintels India Pvt Ltd for land within their joint venture project, Sobha International City. This involves two separate land parcels, 2 acres and 5.8 acres, with a stamp duty payment of approximately Rs 8.5 crore. The transaction follows Sobha's record-breaking performance in Q2 2023. The deal includes the transfer of a commercial portion of the licensed land and a plot initially allocated for the clubhouse. Despite controversies surrounding Chintels India's Chintels Paradiso project, the recent land transfer is unrelated, emphasizing the continued collaboration in real estate development in the National Capital Region.Read more

22 Jan 2024

Delhi NCR-based real estate developer TARC Ltd plans a Rs 1,200 crore investment in "TARC Kailasa," a luxury housing project spanning 1.7 million sq ft in central-west Delhi's Kirti Nagar. CEO Amar Sarin unveiled the prestigious venture, featuring 411 apartments with ticket prices of Rs 9 crore and Rs 12 crore for 3.5 BHK and 4.5 BHK units, respectively. Designed by Andy Fisher Workshop, the project will occupy six acres, boasting five towers of 30-35 floors. Construction funding will be internal, backed by robust sales, with 30% already sold within days. TARC Ltd targets 65% sales within the next month, eyeing a combined revenue of Rs 7,500 crore from three major projects, including one in Gurugram.Read more

19 Jan 2024

Bengaluru's Brigade Group aims to develop 15 million sq ft in Chennai by FY27, focusing on 80% residential launches. With an investment of Rs 3,400 crore, it plans to add 4 msf residential and 1 msf commercial space in the next two years. The company is set to launch a mixed-use project at Mount Road, including one of the tallest towers in Chennai. Additional projects include a 3.5 msf residential development in Sholinganallur and an office park. Amidst Chennai's real estate resurgence, 2023 witnessed increased apartment and housing unit sales, while office transactions saw a remarkable 92% growth.Read more

19 Jan 2024

Puravankara Limited, a leading real estate developer in India, reported achieving a sales value of Rs 3,967 crores in the 9 months of FY24, marking an 89% YoY increase. Customer collections also surged to Rs 2,515 crores, indicating a 57% YoY jump. Q3FY24 alone witnessed sales of Rs 1,241 crores, a 56% YoY growth, with customer collections at Rs 941 crores. The success is attributed to strategic construction progress, quality commitment, and the launch of two new projects. Positive economic conditions in India, with a GDP growth of 7.6%, are contributing to the unprecedented demand for quality residential real estate.Read more

18 Jan 2024

Mahindra World City Developers has committed over Rs 1,000 crores in a five-year investment, signing an MoU with the Government of Tamil Nadu. The initiative, coinciding with the launch of the second phase of "Origins by Mahindra'' in Chennai, aims to drive economic growth and create over 2,000 jobs. "Origins by Mahindra" has been awarded the IGBC Green Cities' 'Platinum' rating and hosts companies like Yanmar Engine Manufacturing, Mitsubishi Electric, and OMRON Healthcare. Mahindra emphasizes sustainable development and aligns with the 'Make in India' initiative. The expansion reflects confidence in Tamil Nadu's business environment, fostering a vibrant industrial ecosystem for economic prosperity and innovation.Read more

18 Jan 2024

In response to a Bombay High Court directive, Romell Real Estate Private Limited, the owner of Castelino Building in Vile Parle Gaothan, has committed to offering alternative accommodation to its four tenants before proceeding with the structure's demolition for redevelopment. The Brihanmumbai Municipal Corporation had earlier disconnected water and electricity services to the building due to safety concerns. The court emphasized the responsibility of property owners to rebuild dangerous structures and ordered the tenants' evacuation from the C1-categorized building by February 5. Romell Real Estate pledged equal carpet area alternatives and potential ownership of flats to the tenants in the redevelopment project.Read more

17 Jan 2024

Ajmera Realty & Infra India Ltd reports a great Q3 FY24, witnessing a 98% YoY rise in sales at Rs 253 crores. The sales growth is attributed to sustained interest in key projects like Ajmera Manhattan and Ajmera Eden in Mumbai, along with projects in Bengaluru. Despite limited inventory, the company demonstrates a strong 63% YoY increase in sales area at 1,03,573 sq.ft. Director Dhaval Ajmera expresses confidence in achieving the annual sales goal of Rs 1,000 crores, driven by elevated demand for mid-segment and premium homes. The recent acquisition of a Versova redevelopment project adds to their portfolio strength and diversification goals.Read more