20 Nov 2024

Residents of Chander Kunj Army Towers in Vyttila have filed a writ petition seeking a Central Bureau of Investigation (CBI) probe into alleged irregularities in the construction of the twin towers. Following structural defects and multiple inspections deeming the towers unsafe, the Indian Institute of Science (IISc) recommended their demolition. Petitioners, including retired Army officers Major Prince Jose and Captain Erinjeri Paul, claim corruption and malpractices led to the buildings' flaws. Despite multiple FIRs and court interventions, little progress has been made. Residents are urging swift action to prosecute those responsible and resolve the ongoing uncertainty about evacuation and compensation.Read more

19 Nov 2024

HDFC Capital has partnered with Runwal Enterprises to develop residential projects for affordable and middle-income families across Mumbai. The collaboration involves an investment of over Rs 1,150 crore and is expected to generate a revenue potential of over USD 1 billion. HDFC Capital will provide a mix of equity and debt, supporting multiple projects in the Mumbai Metropolitan Region. This partnership aligns with HDFC Capital's focus on sustainable housing and innovation, while also contributing to the government's 'Housing for All' initiative.Read more

19 Nov 2024

Kolte Patil Developers reported a consolidated net profit of INR 10.34 crore for Q2 FY25, rebounding from an INR 26.23 crore loss in the same quarter last year. The company's income grew by 56.67% to INR 320.96 crore. Group CEO Atul Bohra highlighted record pre-sales of INR 770 crore, driven by strong demand, especially in the premium 24K segment. Collections reached INR 550 crore for Q2, supported by efficient project execution. Bohra expressed optimism about upcoming project launches and the sector's growth potential, anticipating stable progress as a result of a robust project pipeline, strong cash flows, and customer trust.Read more

19 Nov 2024

1 Finance, a leading financial services institution in India, has partnered with NAREDCO Maharashtra NextGen for Excelerate 3.0. The event revealed a detailed research report on Greater Mumbai's real estate market, examining pricing trends, transaction volumes, and inventory levels. Key insights include high property prices, low affordability for the affluent middle class, and the need for regulatory reforms to improve the market. The report highlighted real estate's role as a strong asset class, offering competitive returns compared to equities, debt, and gold. Industry leaders emphasized the importance of collaboration for addressing affordability challenges and driving sustainable urban growth.Read more

18 Nov 2024

Puravankara reported a consolidated net loss of INR 17.06 crore for the latest quarter, exceeding the loss from the same period last year. However, the company recorded substantial revenue growth of 36.2%, reaching INR 519.68 crore, and achieved a 67% rise in project revenues for the first half of FY25. Key growth indicators included a 14% increase in sustenance sales, higher pricing for Purva and Provident brands, and significant land investments. The company remains focused on launching new projects with a GDV potential of INR 13,625 crore in the coming quarters.Read more

18 Nov 2024

Anthurium Developers, a subsidiary of Mahindra Lifespace Developers, has entered into a joint development agreement with GKW to develop a 37-acre land parcel in Bhandup, Mumbai. The project, which holds a development potential of around 3.6 million sq ft, will include a mixed-use development featuring residential, commercial, and retail spaces. The deal was facilitated by ANAROCK Capital, with Khaitan & Co acting as the legal advisor, marking a significant step in enhancing Mumbai's real estate landscape.Read more

15 Nov 2024

Agami Realty has successfully sold over 80% of the units in its premium residential project, Agami Eternity, located near Bandra Kurla Complex (BKC). The 22-storey building comprises 66 units, set for handover by April 2027. Designed by acclaimed architect Reza Kabul, the project combines contemporary architecture with sustainability, featuring amenities such as a rooftop infinity pool, hammock court, and green building certifications. The development, focused on luxury, art, and innovative design, integrates smart energy management tools and sustainable practices like solar panels and rainwater harvesting. The project's strategic location offers excellent connectivity to key business and entertainment hubs.Read more

15 Nov 2024

Supreme Universal has announced the second phase of Supreme Villagio, a luxury villa township in Somatane, Pune. Following the success of the first phase, which sold nearly 100 villas, this new phase introduces 70 additional 4 BHK villas. Situated on a scenic 16-acre plot, Supreme Villagio offers high-end amenities, convenient transport links, and natural surroundings. Supreme Universal anticipates INR 500 crore revenue from this expansion, appealing to both local and NRI buyers interested in premium, nature-integrated living.Read more

15 Nov 2024

Ajmera Realty & Infra India Ltd (ARIIL) has reported remarkable pre-sales for its newly launched residential project, Ajmera Iris, in Bengaluru's Electronic City, Phase 2. Within the first week of its launch, the project sold 59,000 sq. ft. out of 1,58,859 sq. ft., totaling INR 60 crore in revenue-about 37% of the available inventory. Located near key infrastructure like Hosur Road and the Bengaluru Metro, Ajmera Iris combines convenience with lifestyle amenities, making it an attractive choice for buyers and investors seeking quality living spaces in Bengaluru.Read more

15 Nov 2024

Brigade Group has entered a Joint Development Agreement for a one million square foot residential project in West Chennai, forming part of a larger 1.5 million square foot mixed-use complex. Brigade envisions Chennai as a key growth market, second only to Bengaluru, with this project valued at an estimated INR 800 crore. With plans to invest over INR 8,000 crores in Chennai by 2030, Brigade aims to expand across residential, commercial, retail, and hospitality sectors. This partnership reinforces Brigade's commitment to delivering premium, integrated spaces that meet evolving market demands and enhance Chennai's urban landscape.Read more