05 Dec 2022

Noted industrialist and administrator of F E Dinshaw Charities and F E Dinshaw Trust, Nusli Wadia has put up for sale approximately 20 acres of land in Malad, Mumbai valued at roughly Rs 100 crores. There three plots are presently encroached upon by slum dwellers. The entities are planning to sell the land parcels on an ‘as is where is basis’. The tender for sale was announced in early November and the set reserve price is said to be 25% of the ready reckoner rate according to land valuation experts.Read more

05 Dec 2022

In a recent press release, India’s first Wood Frame Construction (WFC) company Nesca Homes announced its intention of constructing 10,000 wooden buildings by 2030. The company is a one window solution supplier of wooden buildings. They have assisted Forestry Innovative Investors in British Columbia, Canada in the past and have conducted multiple demo projects across India including the MAK project in Hyderabad. Their core competencies lie in value engineering, estimations and construction management in Canadian pinewood and technology.Read more

02 Dec 2022

Delhi based Trident Realty is gearing up to launch an integrated luxury township that will span across a 200-acre plot of land in Panchkula in Haryana. With a goal of deleveraging, the realty firm will use a portion of the money raised from banking institutions for its Trident Hills project to complete and hand over this new project. The company is said to have already invested a sum of Rs 400 crores which it intends to utilise to complete construction and deliver 450 plots already purchased by buyers in the new project.Read more

01 Dec 2022

On 29th November 2022, the government of Maharashtra opened the financial bids for the redevelopment of the Dharavi slums located in Mumbai. The winner of the bid was to be decided based on the highest initial investment pledge. DLF Group quoted Rs 2,020 crores and Gautam Adani led Adani Realty quoted Rs 5,060 crores, ultimately winning the bid. The project is scheduled to be completed over 17 years. The redevelopment will be undertaken via a Joint Development Agreement with the state government and Adani Realty.Read more

01 Dec 2022

Following the completion of their project "Aaradhya Highpark" (Towers A, B, C, D, and retail) 16 months early, MAN Infraconstruction Ltd (MICL) will debut its upscale residential property Aaradhya Parkwood through its subsidiary Man Vastucon LLP shortly. The project will span across 2.5 acres of land and offer over 5.3 lac square feet of carpet space for sale. This project alone has the potential to bring in over Rs 800 crores in revenue for the realty firm. The project would comprise 1 and 2 BHK luxury apartments with over 60+ amenities and facilities designed in the state-of-the-art clubhouse.Read more

30 Nov 2022

Mumbai based Macrotech Developers has had an eventful and fruitful year, barring a few hiccups. The realty firm presently headed by Abhishek Lodha reportedly delivered 4.4 million square feet of space creating an estimated Rs 8,000 crores in revenues in this fiscal year alone. Although the company reported a consolidated net loss of Rs 933 crores for the quarter ending September 2022, their net profit has increased by 28 per cent YoY. The loss booked has been largely due to an exceptional loss suffered on account of economic turbulence in the United Kingdom where they have two projects.Read more

30 Nov 2022

Co-working company Avanta India recently announced its intention to expand its portfolio to meet the growing demand for flexible workspaces in the coming months. The company will add 2 lac square feet of office space, including 50,000 square feet of space dedicated solely to premium co-working establishments. The developments will add almost 3,000 workstations across multiple localities in Delhi-NCR. Their project at Nehru Place in Delhi, scheduled to be completed by December, will create 150 seats across the 10,000 square foot set-up.Read more

29 Nov 2022

The Runwal Group has opened its first-ever "By Invitation only" residences at Park Avenue in Kalyan-Dombivli at Runwal Gardens in Dombivli. The 3-BHK, 4-BHK, and Duplex residences on Park Avenue range in size from 1017 square feet to 2,595 square feet and start at Rs 1.40 crore. These residences created by AR Hafeez Contractor, offer lifetime views of an 11-acre central park along with a private clubhouse and other luxury amenities catering to the demands of the privileged few who will call this place home.Read more

25 Nov 2022

Japan based Marubeni Corporation has entered into a joint development agreement with Pune-based Kolte Patil Developers Ltd, according to a recent BSE filling. The project will be located in Pimple Nilakh, Pune and is said to have the development potential of over eight lac square feet. As per the agreement Marubeni Corporation will invest a sum of 200 crore rupees into the project, via a single tranche, providing KPDL will the requisite liquidity needed. Marubeni Corporation will be entitled to 2.85 lac square feet of saleable area within the project.Read more

25 Nov 2022

The Special Investigation Team (SIT), set up by Thane Police Commissioner has arrested 10 people involved in the Kalyan Dombivli RERA scam. The SIT had booked 65 developers in the case but was yet to make any arrests. A key witness recorded his statement in front of the Judge earlier this week, allowing the police to move ahead with arrests. The builders have been accused of forging and falsifying documents to obtain RERA certificates to construct and sell properties. The scam has revealed multiple gaps in communication between government departments and corruption within its institutions.Read more