26 Sep 2023

Rustomjee Group, a prominent Mumbai-based real estate developer, has unveiled ambitious plans with 22 upcoming projects encompassing 37 million square feet and a gross development value (GDV) of Rs 35,000 crore. Emphasizing a focus on mid-mass and aspirational market segments in the Mumbai Metropolitan Region (MMR), the company aims for 25 percent year-on-year growth in presales over the next 3-5 years. Rustomjee's commitment to redevelopment, rehousing over 1,400 families so far, remains strong, contributing to the transformation of Mumbai's urban landscape. The company reported strong Q1FY24 pre-sales of Rs 500 crore and a reduction in net debt.Read more

26 Sep 2023

In a significant legal development, the Delhi High Court has rejected R K Arora's petition, chairman and owner of Supertech, challenging his arrest by the Enforcement Directorate (ED) in a high-profile money laundering case. The court upheld the legality of his arrest, emphasizing the ED's adherence to legal provisions and the prompt notification of grounds for arrest. Arora's claims of violations of the Prevention of Money Laundering Act (PMLA) and his fundamental rights were dismissed, as the court found no substantive evidence. The court also addressed the issue of interim bail, suggesting video conferencing for meetings with creditors. Subsequently, the ED filed a charge sheet against Arora and others, alleging conspiracy to defraud homebuyers.Read more

26 Sep 2023

Mahindra Lifespace has launched the third phase of its Mahindra Happinest Tathawade project in Pune, focusing on 2 BHK homes with carpet areas ranging from 619-702 sq ft, starting at Rs 66 lakh. The project's first two phases were highly successful, with most of the inventory sold out. Possession of apartments in the third phase is expected in 2025. This phase includes retail and commercial spaces to create a comprehensive living environment. The project is strategically located along the Mumbai-Pune Highway, close to the IT hub of Hinjewadi and the proposed Hinjewadi Junction metro station.Read more

26 Sep 2023

G Square, a renowned real estate developer in Tamil Nadu, is venturing into Mahabalipuram's real estate market with its latest project, G Square Dynasty. This development, spanning 28.3 acres, offers 296 secure residential plots, endorsed by the Directorate of Town and Country Planning and registered under RERA. What sets it apart is an array of 40+ world-class amenities. Situated strategically near key areas like Kalpakkam, Kelambakkam, and the upcoming Chennai Peripheral Ring Road, G Square Dynasty is poised to transform Mahabalipuram into a satellite township. The city's growth is bolstered by major infrastructure projects, international investments, and its rising prominence in sports and entertainment. An enticing prospect for investors and homebuyers looking for a luxurious, sustainable lifestyle in this evolving locale.Read more

23 Sep 2023

India's prominent co-working provider, BHIVE Workspace, has unveiled its biggest co-working facility in Bengaluru's central business district on Church Street. This move caters to the escalating demand for premium flexible office spaces in the city. Covering an expansive 1.2 lakh square feet, the new co-working space offers nearly 3,500 seats and an array of dining options. Already a hit, with over 40% of seats occupied, the launch was celebrated with celebrity presence. This addition strengthens BHIVE's presence in Bengaluru's CBD as co-working demand continues to rise in prime locations.Read more

23 Sep 2023

IFC, a member of the World Bank, is partnering with Sunteck Realty to establish a joint platform with a total investment of up to Rs 750 crore (US$90 million). This collaboration aims to support the development of around 12,000 housing units across four to six green housing projects in the Mumbai Metropolitan Region. IFC plans to invest up to Rs 330 crore (US$40 million), while Sunteck Realty will contribute the remaining amount. The project's focus is on creating large-scale housing projects in Mumbai's suburbs to address the housing needs of mid-income earners. The initiative also emphasizes eco-friendly housing with a goal to reduce water and energy consumption by at least 20% using IFC's EDGE green building certification.Read more

22 Sep 2023

India Sotheby’s International Realty has secured an exclusive sales and marketing mandate for The Residency, an ultra-luxurious residential project in Worli, Mumbai. The project comprises 19 ultra-luxury residences, each occupying an entire floor and offering stunning views of iconic landmarks in Mumbai. The Residency features flexible living spaces with customizable configurations of up to 5 bedrooms, making it a highly sought-after address for Ultra High Net Worth Individuals (UHNIs). With Mumbai's rising wealth and increasing demand for high-end properties, this project represents a significant opportunity for UHNIs to own luxury residences in a prime location in the city.Read more

22 Sep 2023

In India's IT corridor, CapitaLand Investment Limited (CLI) has begun construction on Phase I of the renovated International Tech Park Hyderabad (ITPH). This Madhapur business park has a 100% lease agreement from major firms for its Block A office building. Over the course of seven to ten years, CapitaLand India Trust (CLINT) will invest in the substantial renovation of ITPH, resulting in the provision of more than 4.9 million square feet of Grade A+ office space. At ITPH, a 40-megawatt data centre will also be built. The initiative intends to boost Hyderabad's expanding information technology industry and meet the demands of major international businesses.Read more

22 Sep 2023

FF21, a prominent co-living operator, is set to expand in Bengaluru, aiming to introduce 2000 new beds across 3-4 strategic locations in the current fiscal year. With six properties in Bengaluru already, FF21 caters to young working professionals by offering dynamic and community-focused co-living spaces. The demand for co-living spaces is growing due to hybrid work models, prompting FF21 to pursue ambitious expansion plans. CEO Ajay Nemani emphasizes their commitment to top-tier co-living spaces with excellent design, community integration, and advanced technology, ensuring a comfortable and secure living environment.Read more

21 Sep 2023

Supreme Universal, a renowned real estate company known for its luxury developments in Mumbai and Pune, proudly announces the possession of Supreme Estia - Phase 1, a prestigious residential project located in Pune's upscale Baner neighbourhood. This achievement reflects Supreme Universal's commitment to creating exceptional living spaces for its customers. The possession event, which spanned two weeks starting from August 15th, celebrated the welcoming of over 260 families into the Supreme Community. It was a vibrant and memorable event, emphasizing Supreme Universal's dedication to customer satisfaction and creating lasting memories.Read more