29 Sep 2023

Geetanjali Homestate, a renowned name in real estate, is expanding its presence with the opening of offices in Mumbai, Pune, Goa, and Lucknow. This strategic move reflects the company's commitment to providing premium real estate solutions in key markets. Mumbai's financial hub, Pune's urbanization, Goa's tourism, and Lucknow's growing real estate market will all benefit from Geetanjali Homestate's services. With a reputation for excellence, the company aims to cater to the diverse needs of property seekers and investors in these dynamic regions, further solidifying its position as a trusted partner in the real estate journey.Read more

29 Sep 2023

Birla Estates Pvt Ltd, the real estate arm of Aditya Birla Group, has successfully sold out phase 1 of Birla Trimaya in Bengaluru within just 36 hours of its launch. This project, located in Devanahalli, North Bengaluru, encompasses 556 units across 52 acres, with a booking value of Rs 500 crore. Birla Estates has set its revenue target for this project at Rs 3,000 crore, reflecting the strong demand for luxury real estate in North Bengaluru due to the presence of global companies and skilled professionals. The transformation of North Bengaluru into a thriving residential and commercial hub has been driven by factors like the Bengaluru International Airport and Manyata Tech Park. This achievement highlights the continued demand for quality properties in Bengaluru's growing real estate market.Read more

28 Sep 2023

Supreme Universal's 'Supreme Villagio' in Pune has garnered an overwhelming response, with phase 1's 3 BHK luxury residences almost sold out. This success showcases trust in the Supreme brand and a desire for luxurious living in a natural setting. The project aligns with contemporary preferences, offering well-crafted residences with convenient outdoor access while fostering community and privacy. Somatane's ideal location, tranquil ambiance, and strong connectivity add to its allure. Supreme Universal's legacy of innovation and quality shines through as they continue to provide an unparalleled living experience. Supreme Villagio stands as an icon of luxury living in Mumbai and Pune.Read more

28 Sep 2023

The Allahabad High Court has requested banks that provided financing to the Jaypee Group to clarify their positions in a case related to the cancellation of 1,000 hectares of land allocated to the group by the Yamuna Expressway Industrial Development Authority (YEIDA). The court had earlier invited homebuyers and banks to become parties to the case. However, it observed that while several banks had filed applications, they had not taken a stance on supporting or opposing Jai Prakash Associates (JAL), the petitioner. The court directed the financiers to clarify their legal positions and submit affidavits. The matter is scheduled for further hearing on October 10.Read more

28 Sep 2023

Located within Scheme No. 11, Devaraj Urs Colony was the inaugural project initiated by the Belagavi Urban Development Authority (BUDA) back in 1982. Regrettably, residents are now expressing their discontent, citing the colony's underdevelopment as evidence of both the city administration and BUDA's inadequate performance. They assert that the area's struggle for basic amenities underscores the need for urgent action and improved governance to uplift their living conditions. Residents have repeatedly appealed to officials for infrastructure improvements to no avail. Ward corporator Basavaraj Modagekar has promised to bring the issues to the attention of senior officers.Read more

27 Sep 2023

Manglam Group has unveiled Manglam Rambagh, a luxurious residential project in Jaipur, representing a substantial investment of Rs 200 crore. Spanning 2.2 acres in Jagatpura, this development offers 114 flats across six floors, ranging from 3 to 6 BHK, with sizes from 2370 sqft to 6120 sqft, competitively priced. It features extensive amenities including a 700 square yard garden, a 1.66-acre clubhouse, and EV charging points, promoting sustainability. With strategic connectivity to key areas and Vastu principles in design, it prioritizes convenience and harmony. Security is robust with a 3-tier system, and ample parking is provided while maximizing green landscaping. Anticipated completion is in December 2024, heralding a new era of premium living in Jaipur.Read more

27 Sep 2023

Oberoi Realty's Commerz III in Goregaon, Mumbai, is set to be finished by March 2024. Having already signed a lease deal for 1.6 million square feet with Morgan Stanley, the company expects to finalize deals for the remaining 2.4 million square feet in the next few months. Discussions are ongoing with various clients, including flex space providers, pharmaceutical firms, tech companies, and educational institutions. Commerz III offers diverse floor plate options, dedicated lift zones for larger clients, and extensive parking. Oberoi Realty also plans to include retail and amenities like food courts and gyms. The company emphasizes sustainability and green initiatives, showcasing its leadership in commercial real estate.Read more

27 Sep 2023

The Income Tax Department has launched an extensive search operation targeting a prominent local real estate developer, Swati Procon, in Gujarat. Over 100 officials from Ahmedabad, Baroda, and Rajkot are involved, focusing on around 35 to 40 properties, potentially uncovering benami (proxy) transactions. The investigation scrutinizes key figures like Ashok Agarwal and Saket Agarwal, with the founder, Ashok Agarwal, at the centre of attention. Details remain guarded, but officials are delving into financial transactions to detect tax evasion and corporate irregularities. Parallelly, in Chennai, tax officials have conducted searches involving procurement practices and coal-handling materials. The real estate landscape faces continued vigilance from tax authorities, especially in redevelopment projects with cash components.Read more

27 Sep 2023

The Telangana State Real Estate Regulatory Authority has imposed a hefty Rs 17.5 crore penalty on three real estate giants, including Mantri Developers Pvt Ltd, Sai Surya Developers Pvt. Ltd. and Sahiti Infratec Ventures Pvt Ltd, for RERA Act non-compliance. The penalties were meticulously assessed after a thorough evaluation of each builder's conduct, considering violations of the 2016 Act and associated rules. Sahiti Infratec Ventures faces a substantial Rs 10.7 crore fine for failing to register three projects with RERA. TS RERA's actions highlight their commitment to transparency and accountability in the real estate sector, emphasizing consequences for non-compliance.Read more

26 Sep 2023

Noida-based Gaurs Group has made substantial strides in the real estate sector with two key acquisitions. They've acquired 18 acres in Noida's Sector 129 for a Grade-A retail and office project, strategically positioned on the Noida Expressway. They've also taken over a stalled residential project in Jaypee Greens, Greater Noida, with plans to complete two residential towers and create 1.5 million square feet of additional space. This demonstrates Gaurs Group's commitment to expanding in the real estate sector and its potential impact on the NCR's real estate landscape. This follows their previous investments, including 'The Island' luxury housing complex in Jaypee Greens, reflecting their strategic expansion in the region.Read more