07 Nov 2024

Prestige Estates Projects has made significant strides in Bengaluru's real estate market by acquiring 17.45 acres of land in Whitefield for INR 462 crore, set for residential development with 2.68 million sq ft of buildable area. The company has also invested in various equity stakes, including a 25% stake in K2K Infrastructure India and a 27% stake in Prestige Garden Estates, transitioning these entities into wholly-owned subsidiaries. Additionally, a 16% stake in Prestige Projects has been acquired, increasing ownership to 76%, solidifying their influence and growth potential in the sector.Read more

07 Nov 2024

Real estate mogul Abhishek Lodha and his family have announced plans to transfer shares worth around INR 20,000 crore from Macrotech Developers (MDL) to the Lodha Philanthropy Foundation (LPF). This transfer of approximately 18-19% of the Lodha family's stake in MDL, inspired by the Tata Group's philanthropic model, will be used to fund social initiatives in education, women's empowerment, and sustainable urban development.Read more

07 Nov 2024

The House of Hiranandani, led by Surendra Hiranandani, has announced a strategic investment of INR 12,500 crore to expand its footprint in the Mumbai Metropolitan Region (MMR) over the next two years. This initiative includes luxury developments spanning over 7.3 million square feet and key projects in Thane and Chembur. With a growing commercial portfolio and a commitment to sustainable luxury, the company aims to enhance the urban landscape and meet the rising demand for premium residential and commercial spaces in the region.Read more

07 Nov 2024

Shriram Properties Limited (SPL) has signed a Joint Development Agreement for a six-acre land parcel in Undri, Pune, to develop a mixed-use project featuring over 650 apartments and retail/commercial spaces. With a total saleable area exceeding one million square feet, the project has an estimated revenue potential of INR 700-750 crore and is expected to launch in H2 FY25. SPL also plans to secure rights for an additional eight acres primarily for retail and commercial development.Read more

06 Nov 2024

Panchshil Realty's subsidiary, Wagholi Estates, sold a 4.8-acre land parcel in Pune's Wagholi to Vilas Javdekar Infinitee Developers for over INR 103 crore. The land is part of Panchshil's 4.5 million sq ft IT park project, with 1 million sq ft designated for residential development in this mixed-use layout. Registered on October 21 with a stamp duty of INR 7.21 crore, the transaction highlights growing demand for land in high-growth areas like Pune. As major cities such as Mumbai, Chennai, and Bengaluru expand, developers and investors are actively pursuing land for new residential, commercial, and mixed-use projects.Read more

06 Nov 2024

The Noida Authority has approved two projects under the Uttar Pradesh government's co-development policy to address stalled real estate developments. Nimbus Projects will oversee Sunworld Residency in Sector 168, and Theme County will manage a project in Sector 115, benefiting approximately 1,000 homebuyers. The initiative follows the Hawelia Group's takeover of Shree Radha Sky Garden in Greater Noida. The new developers are required to settle dues and secure funding to complete the projects. With around 190,000 housing units worth INR 1 lakh crore currently stalled in the region, this policy aims to revitalize the market.Read more

06 Nov 2024

Lodha reported a record pre-sales performance of INR 42.9 billion for Q2FY25, despite seasonal challenges, achieving its third consecutive quarter of over INR 40 billion in pre-sales. The company completed a land sale in Palava to a global data center major, added four projects in Pune and Bengaluru with a GDV of INR 55 billion, and expanded its digital infrastructure stake to 67%. Lodha's net debt remains at INR 49 billion, within its target, and its debt cost declined to 8.9%. The company expects to meet its FY25 guidance of INR 175 billion, boosted by festive demand.Read more

05 Nov 2024

Merlin Group, Kolkata's largest real estate developer, is undertaking projects valued at INR 20,000 crore, which are projected to double its annual revenue within the next seven to eight years. With a development portfolio encompassing luxury residential complexes and commercial spaces, the group has completed 20 million square feet over four decades and currently has 30 million square feet under development. The group is also venturing into hospitality with the eastern region's first World Trade Centre, expected to feature a five-star property. The recent rebranding signifies the company's commitment to growth and innovation.Read more

05 Nov 2024

Max Estates Limited, part of Max Group, reported a consolidated total income of INR 52.77 crore in Q2 FY25, reflecting a nearly 90% increase from the previous year, despite a net loss of INR 1.38 crore. Key developments include the approval of the "Delhi One" project in Noida, with a gross development value of over INR 1,500 crore, and enhanced FAR for a new tower at Estate 128. The company raised INR 1,300 crore for expansion and achieved 93% occupancy in Max Square. For H1 FY25, consolidated revenue reached INR 80.7 crore, alongside strong lease rental growth, indicating potential for future growth.Read more

05 Nov 2024

Urban Vault, a managed office space provider, has announced its expansion in Bengaluru's central business district by leasing 1.2 lakh square feet of office space across three buildings. According to founder Amal Mishra, Bengaluru's availability of affordable real estate and skilled talent make it an attractive destination for companies looking to enter the Indian market. Urban Vault offers desks ranging from INR 8,000 to INR 10,000 per month. During the financial year 2023-24, Urban Vault reported a turnover of over INR 100 crore and a net profit of 18%, with an occupancy level of 91% in its operational centres. With over 20 lakh square feet of office spaces and plans to expand to other major cities, Urban Vault is positioning itself as a key player in the flexible workspace segment.Read more