23 Jan 2023

The Isprava Group, known for creating and managing luxury villas across India has recently raised Rs 160 crores through a round of funding led by Symphony International Holdings and others. The company intends to use the money raised for both brands; Isprava and Lohono Stays to increase their footprint across India and other key countries. They intend to develop and broaden their brand presence and explore the use of technology for product development in the near future. Both brands are said to have witnessed an exponential growth in the last couple of years, more than doubling their operations.Read more

20 Jan 2023

House of Abhinandan Lodha is planning to invest upwards of Rs 11,000 crores to acquire and develop land parcels across the country in the coming three to four years. The company has so far successfully launched and sold plotted development projects in Goa, Dapoli, Anjarle and Neral. The company intends to roll out as many as 11 new projects in the coming financial year, near Alibaug, Goa, Ayodhya, Lonavala and other undisclosed locations in the Konkan region. According to insiders, of the total investment budget planned for the next four years, almost Rs 3,000 crores has been set aside for land acquisition in Uttar Pradesh of which over Rs 1,000 crores will be invested in Ayodhya alone.Read more

19 Jan 2023

In an interview with TOI last week, the state Revenue Minister Radhakrishna Vikhe Patil announced he would be personally looking into the request submitted to scrap non-agricultural (NA) tax payable by several housing societies in Pune and Mumbai that exist on land that falls under the ‘gaothan’ areas as classified by the Collector in accordance with the Maharashtra Land Revenue Code 1960. More than 85,000 societies are said to currently exist on land classified as such.Read more

13 Jan 2023

According to a report published by Colliers India, institutional investments in alternate asset classes in real estate reached a record high of $0.9 billion, indicating a 92 percent YoY hike for the calendar year 2022. These investments accounted for 18 percent of the total inflow for the year and is said to have jumped 4-fold since 2019. Investors have bet on emerging markets such as data centres, life sciences, holiday homes, hospitals, etc. The largest tractions were witnessed in data centres which accounts for roughly 52 percent of the total investments made in alternate assets.Read more

12 Jan 2023

A statutory authority for the Indian Railways, The Rail Land Development Authority (RLDA) has opened bids for leasing out a 124,000 square meter land parcel for a period of 99 years, located in Sector 21, Dwarka, Delhi. The pre-bid meeting was held on 10th January 2023 and the last date for e-bid submission has been declared as 6th February 2023. The reserve price for the land in question is approximately Rs 1190 crores. The land is available for mixed used development, i.e., for residential and commercial structures. The land parcel available for lease is a combination of multiple railway plots located near Indira Gandhi International Airport in the southwest region of New Delhi.Read more

12 Jan 2023

HDFC Capital has raised USD 376 million in its third round of funding for its affordable real estate fund H-Care 3. The real estate private equity arm of the HDFC Bank has raised over USD 3 billion through the H-Care schemes since its launch in 2016, making it one of the biggest private finance platforms in the world focused on affordable housing development. The fund intends to use the money raised to meet growing demand for early-stage financing of housing projects in India.Read more

11 Jan 2023

Godrej Properties sold more than 1 million square feet of space during the opening of a new phase Celeste in its Ahmedabad township Godrej Garden City. Since Celeste's inception in October 2022, the company has sold 870 properties with a booking value of roughly Rs 435 crore. Celeste is a 2.3-hectare development that has 8 buildings and provides a variety of housing options and retail establishments. This phase includes a wide range of cutting-edge amenities as part of the integrated offering that caters to the social, health, and leisure needs of all age groups enabling residents to live more fully and comfortably.Read more

10 Jan 2023

The Yamuna Expressway Industrial Development Authority is set to develop a FinTech hub on 700 acres of land in sector 7 of Noida. FinTech hubs are aimed at providing financial services which have a backbone based on information technology. Whether the project will be a single allottee, multiple allottees or public private partnership model is yet to be decided. The Indian FinTech industry grew nearly 282% between 2013 and 2014 with a net worth of 450 million USD. This market is projected to reach 76219 million USD by 2025. As a result, the country has seen increased investments in the sector, including the development of FinTech hubs.Read more

09 Jan 2023

On 6th January 2023, the Chandigarh Housing Board began an e-auction for approximately 49 freehold residential units and 91 leasehold commercial properties. The auction will continue until 24th January 2023. The properties are in multiple locations across the city. About 17 properties are in Kajheri and 59 properties are in Manimajra, 10 in Sector 40A and 3 in Sector 38W. The remaining properties are in and around Sectors 26E, 51A, 49, and 63. The prices of these properties range between Rs 18 lacs to Rs 3 crores.Read more

09 Jan 2023

The Hyderabad Metropolitan Development Authority (HDMA) has announced it would be conducting an of auction of 38 open plots, located at the periphery of the city via sessions scheduled for 18th January 2023. The pre-bid meeting was held earlier this month which was attended by over 100 prospective bidders. The plot sizes range from 252 square meters to 800 square meters and have a total revenue potential over almost Rs 1,000 crores. The plots are in areas such as Nallagandla, Isnapur, Ameenpur, Patelguda, Sultanpur, Bachupally and Moosapet to name a few.Read more