25 Nov 2023

Siddha Group, in collaboration with Sejal Group, celebrates the receipt of the Occupational Certificate for 'Siddha Seabrook,' their first premier 57-storied residential project in Mumbai. Located in Kandivali (W), this iconic tower stands as the tallest in the area. Despite Covid-related delays, the project, with 282 well-designed units, including 2 BHK Smart & Premium and 3 BHK Premium + Sky Garden apartments, was completed in 60 months. Boasting luxurious amenities, scenic views, and strategic connectivity in Kandivali, the project signifies Siddha Group's commitment to quality and timely deliveryRead more

25 Nov 2023

The Allahabad High Court has overturned a local development authority's 2021 order restraining real estate developer Ace Infracity in connection with its Noida Sports City project, nullifying a demand for Rs 79 crore due to the developer's inability to complete work amid land possession issues. The court deemed the restrictions imposed by the Noida Authority unwarranted, highlighting that Ace Infracity had deposited more than the required premium amount. Consequently, the court granted the developer the benefit of the 'Zero Period' and directed the authority not to collect lease premium and rent while instructing a reconsideration of the revised building plan for the project in Sector 150 of Noida.Read more

25 Nov 2023

Draper Start-Up House inaugurates its largest co-living and co-working space in Hyderabad, marking a pivotal moment in global entrepreneurship. With a capacity of 108 beds, the space aims to foster collaboration among start-ups, digital nomads, and entrepreneurs. The launch event, attended by key industry figures, highlights Hyderabad's thriving start-up ecosystem with over 8,000 start-ups and 75+ incubators. This expansion solidifies Draper Start-Up House's commitment to nurturing innovative ventures, providing not just physical spaces but also educational support, venture capital, and technology assistance, all aimed at empowering entrepreneurs on their journey to global success.Read more

25 Nov 2023

Bengaluru-based real estate firm MANA is making strategic moves in East Bengaluru with its latest project, MANA Dale. Positioned in the premium segment, MANA Dale, located in Kodathi off Sarjapur Road, follows the success of MANA Verdant. With the tagline 'Live Brilliantly,' MANA aims to cater to older millennials and their families, offering a lifestyle of luxury and convenience. MANA Dale features apartments, villas, and townhouses, with a clubhouse for community gatherings, dedicated play areas for children, and abundant green spaces. This expansion reflects MANA's commitment to redefining modern living standards and delivering a tranquil oasis in the bustling city.Read more

24 Nov 2023

Oberoi Realty has unveiled Forestville, an expansive residential project spanning 18 acres in Thane's Kolshet area near Mumbai. Comprising five towers, the development offers 3 BHK apartments starting at 1,090 square feet and a base price of Rs 1.87 crore. Inspired by biophilic design principles, Forestville aims to seamlessly integrate nature with urban living, incorporating green spaces, water features, and eco-conscious design. Oberoi Realty strategically focuses on the 3 BHK segment, aligning with market demands in Kolshet. Forestville reflects Oberoi Realty's commitment to innovation and meeting the evolving preferences of discerning homebuyers.Read more

24 Nov 2023

The National Company Law Tribunal (NCLT) in Kolkata has initiated insolvency proceedings against Fort Projects following a complaint from Emami Realty, with claims totalling Rs 91 crore. Emami Realty, a part of Emami Group, accused Fort Projects of defaulting on a principal amount of Rs 82 crore, plus over Rs 9 crore in interest. The decision underscores financial challenges in the real estate sector, appointing an interim resolution professional to oversee the Corporate Insolvency Resolution Process for Fort Projects.Read more

24 Nov 2023

The Dakshina Kannada District Consumer Disputes Redressal Commission has sentenced city-based builders Naveen Cardoza and Ujwal D'Souza, along with landowners William Saldanha, B Gayathri Pai, and Lucy Saldanha, to three years in prison and a Rs 1 lakh fine for their failure to comply with the commission's orders. The charges originated from a complaint filed by Dr Laveena Noronha, who alleged a deficiency in service by Marian Infrastructures, developers of the Lake View project. Despite previous orders, the developers failed to provide allocated parking space and compensation to Dr Laveena, leading to the sentencing. The court revoked their bail and imposed additional penalties for non-payment.Read more

23 Nov 2023

Man Infraconstruction Limited (MICL) anticipates revenue exceeding Rs 8,000 crore from three Mumbai real estate projects, including the Tardeo project, touted as one of India's tallest buildings. Aaradhya Avaan, MICL's ultra-luxury venture in Tardeo, envisions revenue surpassing Rs 3,000 crore. Collaborating with stakeholders, MICL employs a nuanced revenue-sharing model for the Tardeo project. Additionally, strategic projects in Goregaon and Ghatkopar contribute to MICL's expansive real estate portfolio. Sales achievements for H1 2023 showcase robust performance, while a confident stance prevails amid rising interest costs, reflecting the evolving dynamics of the real estate landscape.Read more

23 Nov 2023

Bengaluru-based Shriram Properties aims to deliver 2.5 million sq ft (msf) of residential space worth Rs 1,500 crore by FY24, with 50% of the units in the mid-market segment and affordable range. Locations include Bengaluru, Chennai, Kolkata, Coimbatore, and Vizag. The company plans to launch 5,000 units, which is about 5.3 msf, primarily in Electronic City, Yelahanka, and Jalahalli. Despite rising land prices, Shriram Properties aims to manage debt, currently at Rs 430 crore, through asset liquidation and debt reduction strategies including joint investments.Read more

23 Nov 2023

Provident Housing, a Puravankara Group subsidiary, is set to launch its inaugural themed villament project, Provident Deansgate, in Bengaluru. Priced at over Rs 1.9 crore per villa, the project spans 15 acres in North Bengaluru's IVC Road and comprises 288 duplex villaments themed in Manchester architectural style. With pre-sales already accounting for 30%, the CEO anticipates a robust response to the December 10 launch. The company aims for a top line of Rs 600 crore and plans to expand its total launched space to 3.3 million square feet by the end of FY24, investing Rs 1,150 crore across Bengaluru, Chennai, and Kochi.Read more