30 Nov 2023

The Rustomjee Group, also known as Keystone Realtors Ltd. (KRL), is in negotiations with landowners for joint ventures and joint development initiatives for projects near the Mumbai-Ahmedabad Bullet Train Project. Boman Irani, the Chairman and Managing Director of KRL, shared this strategy during the Q2FY24 earnings conference call. The company is also eyeing opportunities around the Mumbai Trans Harbour Link (MTHL). With an anticipated completion date of 2027 for the bullet train project, KRL is positioning itself for future cash flow in areas adjacent to major infrastructure projects. The company aims to launch projects with a revenue potential of Rs 4,000 crore in the current fiscal year, focusing on redevelopment and projects in the Mumbai Metropolitan Region.Read more

30 Nov 2023

Flexible office space provider IndiQube, supported by WestBridge Capital, reported a net profit in the last fiscal year, ending four years of consecutive losses. With a 70 percent year-on-year revenue increase, reaching Rs 595 crore, it anticipates a 40 percent rise in the current fiscal. IndiQube targets Rs 850 crore in revenue, planning to add 3–4 million square feet to its portfolio. Founded in 2015, the Bengaluru-based company caters to over 450 customers in 13 cities. Boasting over 90 percent occupancy, it earns 75–80 percent of revenue from rentals, with stable cash flows and a strategic focus on profitability.Read more

29 Nov 2023

India's prominent real estate advisory firm, The Guardians Real Estate Advisory, has introduced two verticals – The Guardians Cavalry and The Guardians Luxury. The Guardians Cavalry targets emerging developers with projects under Rs 100 crore, offering strategic guidance and transformative solutions, even for smaller-scale initiatives. Simultaneously, The Guardians Luxury caters to high-net-worth individuals, providing an exclusive platform for high-value residences and projects priced between Rs 10 crore and Rs 100 crore, ensuring a personalized and refined experience. This strategic move aligns with the firm's ethos of innovation, client-centricity, and a commitment to setting industry standards.Read more

29 Nov 2023

Ludhiana Improvement Trust is set to resume construction of Atal Apartments on Pakhowal Road after multiple stalled attempts. The project, initiated over a decade ago, faced delays, dropouts, and multiple inaugurations. The latest effort, backed by the current government, plans to start construction after the formal inauguration at the end of the month, possibly attended by Punjab Chief Minister Bhagwant Mann or Local Bodies Minister Balkar Singh. The project, marked by a tumultuous history of allotments, withdrawals, and changing political climates, aims to provide 576 flats with modern amenities on 8.8 acres of land.Read more

29 Nov 2023

Brigade Group has expanded its BuzzWorks flexible office brand by opening a premium workspace in Brigade Towers. This move is part of BuzzWorks' strategy to reach over 5000 seats in its portfolio by FY24, including the establishment of new centres in key locations like Hyderabad, Chennai, and Ahmedabad GIFT City. BuzzWorks strategically positions its centres within Brigade Group's Grade A tech parks, providing access to top-notch amenities. The workspaces feature biophilic design, collaborative spaces, and a plug-and-play model, reducing overall costs for users. Brigade Towers, the first commercial venture by the group, remains an iconic landmark in the city.Read more

29 Nov 2023

Vaishnavi Group, a leading real estate developer, has expanded its collaboration with Manipal Hospitals to construct a built-to-suit hospital in South Bengaluru. This strategic partnership responds to evolving healthcare needs and quality medical infrastructure, heightened by the COVID-19 pandemic. The Vaishnavi Sushrutha project, spanning 3.3 lakh square feet, will house a world-class tertiary care hospital with 250 beds, offering comprehensive healthcare services. Construction on Kanakapura Main Road commenced in March 2022, aiming for completion by December 2024. The move aligns with India's growing demand for healthcare infrastructure, emphasizing a shift towards prevention and wellness, along with its popularity in the medical tourism sector.Read more

28 Nov 2023

The National Company Law Tribunal (NCLT) has sanctioned an extraordinary exclusion of 936 days in the Corporate Insolvency Resolution Process (CIRP) for realty developer Lok Housing and Constructions, marking one of the lengthiest extensions in insolvency cases. Under bankruptcy regulations, the resolution process must be completed within 270 days, or the company faces mandatory liquidation. This significant exclusion is expected to defer Lok Housing's liquidation, granting approximately two and a half years to finalize the resolution. The decision followed a plea from the interim resolution professional.Read more

28 Nov 2023

Praneeth Group launches IXORA, a luxurious residential project spanning 8.31 acres in Hyderabad's JNTU area. With 1,504 modern residences ranging from 1305 to 3130 square feet, the development offers 2, 2.5, 3, and 3.5 BHK configurations, all designed according to vastu principles. Amenities include a children’s play area, walking spaces, swimming pool, amphitheatre, pet park, and diverse indoor-outdoor facilities. This upscale project epitomizes opulent living, strategically situated for easy access to amenities, educational institutions, and commercial hubs. IXORA showcases Praneeth Group's commitment to crafting sophisticated living spaces with meticulous design and top-notch amenities, redefining Hyderabad's real estate landscape.Read more

28 Nov 2023

Navin’s, a reputable Tamil Nadu-based real estate developer, has entered Bengaluru's residential market with a Rs. 250 Crores investment. The project would be its first luxury residential apartment project located at JP Nagar, 4th stage. It has also launched its new office at Infantry Road, Bengaluru. Navin’s aims to build upon their strengths, viz. ethical business practices, customer centricity and adherence to rules and regulations that are proved over three decades through 125+ projects delivered on time in Chennai. The proposed luxury project, set for early 2024, features a biophilic theme, integrating green spaces for a harmonious 'Being within the Landscape' experience.Read more

28 Nov 2023

The National Consumer Disputes Redressal Commission (NCDRC) has taken significant steps to address consumer concerns by compelling Parsvnath Developers to disburse approximately Rs 80 lakh in compensation to a flat buyer in Delhi. This intervention comes after the real estate company failed to fulfil its obligations, including refunding payments and compensating for project delays, as directed by the NCDRC over three years ago. The commission has warned of daily penalties if the developer fails to honour cheques totalling Rs 15 lakh. The matter is set for a hearing on November 29, with the commission emphasizing compliance with its directives.Read more