17 Jul 2023

Max Ventures & Industries Limited's real estate subsidiary, Max Estates, has achieved pre-formal launch sales worth over INR 1,800 crores for its inaugural luxury residential project, Estate 128, situated in Sector 128, Noida. The development spans 10 acres and comprises three high-rise towers with 201 units, embodying Max Estates' LiveWell philosophy. Construction is scheduled to commence in Q3 CY2023, with an estimated completion timeline of 48-60 months, complying with RERA guidelines. Max Estates aims to be a leading developer in the Delhi-NCR region, expanding its residential and commercial portfolio each year.Read more

17 Jul 2023

M-Sanvi Real Estate Pvt Ltd, a leading affordable housing company, aims to sell around 500 homes worth Rs 100 crore in the current fiscal year. The company plans to expand its operations through franchise businesses in several cities across India. Founder and CEO, Mukesh Kumar, expressed optimism about the growth of the real estate industry, citing factors such as economic growth, demographics, and foreign investment. M-Sanvi focuses on using innovative technology solutions and personalized services to cater to the housing needs of urban professionals. With affordable homes starting from 16 lakhs, the company primarily serves Delhi and the NCR region.Read more

15 Jul 2023

Man Infraconstruction's property development entity, MICL Real Estate, has made a significant acquisition by obtaining the development rights for ten adjacent housing societies in the Ghatkopar suburb of Mumbai. This strategic move was executed through MICL's subsidiary, MICL Creators LLP, in which it holds a 60% partnership interest. The redevelopment of these housing societies will be carried out as a cluster redevelopment project under regulation 33(9) of the Development Control Promotion and Regulation (DCPR), 2034.Read more

15 Jul 2023

Jag Mohan Garg, Chairman and Managing Director of Tirupati Infraprojects Private Limited, has been arrested by the Central Bureau of Investigation (CBI) on charges of a Rs.289 crore bank fraud. Garg is accused of illegally diverting loan funds intended for a luxury hotel project in West Delhi. The Bank of India-led consortium alleges that this fraud led to cumulative losses exceeding Rs.979 crore. Garg who was under CBI custody until July 13, awaits further legal proceedings. The CBI is conducting a rigorous investigation into the case.Read more

14 Jul 2023

The Antriksh Sanskriti housing project in Ghaziabad, which has faced significant delays since 2014, will now be completed through a collaborative effort between the developer and homebuyers. The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has allowed the builder and the association of allottees to jointly undertake the completion of 985 flats in the first phase of the project. The initiative aims to address the prolonged stalling of construction and ensure timely delivery of the remaining units by June 2025.Read more

14 Jul 2023

Ajmera Cityscapes and West Avenue Realty have unveiled their collaborative project, Atlantis, an opulent 18-storey luxury tower located in Khar (West), Mumbai. The grand launch event was attended by notable dignitaries, including MLAs Ashish Shelarji and Parag Shah Ji. Atlantis offers luxurious 3 and 4-bedroom residences with modern amenities, promising a lavish and comfortable lifestyle. The project is expected to be completed by January 2026 and is registered under RERA, ensuring compliance with regulatory norms. This joint venture signifies a successful partnership between Ajmera Cityscapes and West Avenue Realty, aiming to provide exceptional living experiences to discerning residents.Read more

13 Jul 2023

In Gurugram's BPTP Astaire Gardens, approximately 30 residents found their power supply abruptly cut off on Friday morning without any prior notice. The residents are blaming the maintenance agency for harassment. In response, Deputy Commissioner Nishant Yadav has initiated a three-member inquiry committee. Meanwhile, BPTP group refutes these allegations, attributing the disconnections to unpaid electricity bills. DHBVN officials affirm the power disruption was due to internal maintenance and the matter is between the agency and the residents. The investigation continues.Read more

12 Jul 2023

GHR Infra, a renowned real estate group, is pleased to announce its continued success in delivering exceptional properties in Hyderabad. Their flagship project, GHR Callisto, has achieved remarkable sales, with 60 percent of the available 1190 units sold. Additionally, their pilot project, GHR Titania, has witnessed an exceptional surge in sales, with 400 units sold, representing 85 percent of the available units. These achievements highlight the market demand for premium homes and GHR Infra's commitment to delivering quality and sustainable living spaces. The company remains dedicated to customer satisfaction and meeting project milestones, ensuring an uncompromising luxury lifestyle for its valued customers.Read more

12 Jul 2023

The Central Bureau of Investigation (CBI) has taken action against K J Infrastructure Projects India Pvt Ltd and its directors following a complaint from Union Bank of India. An FIR has been registered, alleging a bank fraud case of over Rs 91 crore. The accused individuals manipulated financial statements to obtain credit facilities, leading to an alleged diversion of funds and loss to the bank. The CBI conducted searches, recovering significant evidence, and highlighting concerns about financial integrity and its impact on the banking sector.Read more

12 Jul 2023

Embassy Group has announced plans to launch a significant residential portfolio comprising 4 million square feet in the fiscal year 2023-24. The company aims to generate an estimated revenue of Rs 3,300 crore, with a focus on mid-segment residential properties. Additionally, the company plans to reduce project completion time to 3-4 years and diversify assets to reduce their debt, currently standing at Rs 8,800 crore. Embassy Group also expects a robust pipeline in their office space portfolio, particularly in Bengaluru, with the banking sector as the dominant occupant. They hold a stake in WeWork India and aim to raise additional funds while doubling last year's earnings.Read more