06 Sep 2023

WeWork India has partnered with CommScope to deploy RUCKUS Wi-Fi 6 technology across nearly 50 locations in India, aiming to enhance Wi-Fi connectivity and network performance. This collaboration aligns with India's digital transformation and the growing demand for flexible workspaces, supporting the thriving start-up ecosystem and remote working trends. The deployment includes 2000 ICX switches, 5000 R650 access points, and cloud-based RUCKUS Analytics powered by AI and machine learning. This technology ensures fast, secure, and reliable connectivity, enabling WeWork India to provide an optimal workspace experience for its members while keeping up with India's evolving digital workforce.Read more

06 Sep 2023

Mumbai's property market continues to thrive, registering over 10,000 property transactions for the third consecutive month in August 2023. Despite a 7% decline in government revenue compared to July 2023, it marked a substantial 21% increase from August 2022. Analysis of new property launches between April and June 2023 indicates a shift towards high-end and ultra-luxury segments, with properties priced above INR 2.5 crore gaining prominence. The Western Suburbs have seen a surge in new launches, thanks in part to new metro lines, while the Eastern Suburbs' share declined due to various factors. With the festive season approaching, Mumbai's property market remains positive and is expected to see increased activity in the coming months.Read more

05 Sep 2023

The Department of Town and Country Planning (DTCP) has issued a notice to Vatika Group regarding issues raised by allottees of the Vatika India Next residential project in Gurugram's Sector 82. Allottees, represented by the Senior Citizen Federation of New Gurgaon (SCFNG), have complained about a lack of zoning plans for plots allocated more than five years ago, hindering construction. They also report delays in obtaining conveyance deeds and occupation certificates for floors constructed a decade ago. Allegations include illegal booths, excessive fees, and demands for mutations. The DTCP has directed Vatika Group's MD to respond within seven days or face potential action.Read more

05 Sep 2023

The inauguration of two apartment complexes in Mundamveli marks a significant step towards addressing the long-pending issue of rehabilitating 82 families residing on poramboke land in Gandhinagar, Kochi. The project, initiated as part of the Life Mission, faced multiple delays. These apartments aim to improve the living conditions of families who previously faced issues like flooding during the monsoon and lacked access to proper toilet facilities. This initiative highlights the importance of collaborative efforts between government bodies and officials to uplift marginalized communities and provide essential amenities for a better quality of life.Read more

05 Sep 2023

91Springboard, a prominent player in India's co-working space industry, has unveiled its latest Platinum Hub in Pune's bustling Baner neighbourhood. This 32,000-square-foot facility, the company's 27th hub nationwide, marks a significant achievement in its expansion strategy. The Baner Platinum Hub, capable of accommodating over 800 members, is strategically located in Pune's business district, making it an attractive destination for businesses of all sizes. Known for its superior design, comfort, lighting, sound control, and hospitality, the hub offers an innovative concept called 'Team Rooms' to cater to businesses' specific needs. This expansion reinforces Pune's appeal for start-ups and enterprises.Read more

02 Sep 2023

Aparna Constructions and Estates Private Limited, a leading real estate developer in South India, has launched Aparna Synergy, a luxurious gated community in Hyderabad. The community spans 27.5 acres and offers 3345 high-end apartments with 2, 2.5, and 3-BHK layouts. Situated in Gandi Maisamma, the project combines natural landscapes with modern living spaces and offers exceptional connectivity to key areas of Hyderabad. The project features 24-hour power backup, security, water supply, and a range of amenities. Aparna Constructions' commitment to quality, sustainability, and customer satisfaction is reflected in this project, addressing the demand for upscale residential properties in Hyderabad.Read more

02 Sep 2023

Union Living unveils Varsity, a premium student housing in Mumbai's prime Santacruz-Juhu area, boasting a swift 90% occupancy rate post-launch. Besides offering 221 beds with modern amenities, Varsity fosters a unique sense of community through curated workshops and a mind-enhancing app subscription. Located near top educational and medical facilities, Varsity blends luxury with affordability, catering to various housing preferences. Founded in 2020 by Parth Soni and Rishabh Soni, Union Living is revolutionizing student accommodations, with ambitious expansion plans in the pipeline.Read more

01 Sep 2023

The NCLT's Kolkata bench has made a significant decision in real estate, granting authority to flat buyers to revive an abandoned project by three developers near Baruipur. These buyers, left with financial losses from unfulfilled promises, filed a petition with the NCLT. The case involved substantial amounts, exacerbated by Supreme Court's 8% interest rate directive. After a meticulous process involving expression of interest, three resolution plans, and evaluations, the proposal from Baruipur Bloomfield Project was approved. This plan involves gathering outstanding payments from plot buyers, leveraging surplus land assets, and prudent fund utilization for project completion.Read more

01 Sep 2023

Hawelia Group, a Delhi-NCR-based real estate developer, is seeking approval from the Uttar Pradesh government to act as a co-developer for the completion of the stalled Shri Radha Sky Garden housing project in Greater Noida. The project, launched in 2011, has faced delays, prompting Hawelia Group to invest approximately Rs 750 crore to finalize it. The group has partnered with the current promoter, SJP Infracon, and plans to complete the 22-acre project with around 2,800 apartments, 800 of which are already sold. This move aligns with the proposed co-developer policy by the UP state government and Noida authorities, aiming to expedite stalled projects and restore confidence among homebuyers.Read more

31 Aug 2023

Lenders of Mumbai's Rajesh Lifespaces are utilizing corporate and personal guarantees by promoters to recover dues while awaiting NCLT approval for the company's hotel business sale. Promoters and entities linked to Rajesh Lifespaces offered guarantees for insolvent hospitality division loans. Led by ICICI Bank, banks are using these guarantees for better recovery as they await NCLT's nod. NCLT delay adds challenges to the promising recovery. The outcome not only impacts recovery rates but also Mumbai's hospitality and real estate sectors.Read more