17 Oct 2024

The government-appointed board of directors at Unitech Group has issued a stern warning to homebuyers who are defaulting on payments, indicating that construction of their flats could be halted and allotments canceled if payments are not made promptly. After nearly a decade of stalled construction, work has resumed on several Unitech projects across cities like Noida, Gurgaon, and Bhubaneswar. However, inconsistent payment compliance is hindering progress. For example, projects in Greater Noida have seen only a fraction of the demanded payments, with some buyers opting to pay penalties rather than dues. Unitech has urged defaulting homebuyers to settle outstanding amounts or face severe consequences.Read more

16 Oct 2024

Keystone Realtors Ltd, operating under the Rustomjee brand, has reported a significant increase in pre-sales, reaching INR 7 billion in Q2 FY25, marking a remarkable 129% year-on-year growth compared to INR 3.06 billion in the same quarter last year. The company's total pre-sales for H1 FY25 stand at INR 13.11 billion, reflecting a 62% increase from the previous year. Keystone launched three new projects in Q2, adding a saleable area of 2.49 million sq ft and an estimated gross development value (GDV) of INR 20.40 billion.Read more

16 Oct 2024

Sheth Realty's maiden redevelopment project, Codename Younique, located in Sion, has achieved a sales of over INR 200 crore within 45 days of its launch. The project, an investment of INR 150 crore with a total estimated cost of INR 800 crore, marks the developer's entry into the redevelopment sector. Spread over two acres, it offers 350 premium 2 and 3 BHK units, complemented by retail outlets and a serene Ganesh temple. Developed in partnership with the Aakshya Group, its success is attributed to strategic pricing and flexible payment plans, appealing to first-time buyers, professionals, and families upgrading their lifestyles.Read more

16 Oct 2024

Ajmera Realty & Infra India Ltd (ARIIL) has announced its performance for Q2FY25, achieving impressive sales of INR 254 crore and collections of INR 133 crore. This reflects a 1% increase in sales and a significant 20% rise in collections year-on-year, showcasing the company's robust performance. The company saw strong demand across its diverse portfolio, which includes luxury projects like Ajmera Manhattan and Ajmera Prive, as well as affordable housing options such as Ajmera Vihara, which successfully sold 49% of its units. Looking ahead, Ajmera Realty plans to launch new projects in the second half of FY25, particularly focusing on the upcoming festive season.Read more

16 Oct 2024

WeWork India has unveiled its latest premium workspace, WeWork 37 Cunningham, located in one of Bengaluru's prime business areas. Spanning over 61,000 sq. ft. and housing 891 desks across four floors, this space stands out for its luxurious design, cutting-edge technology, and bespoke services. As Bengaluru grows as a hub for multinational corporations, the demand for world-class workspaces is rising. WeWork 37 Cunningham meets this need by offering a mix of elegance, functionality, and sustainability, making it a perfect choice for large enterprises and businesses.Read more

15 Oct 2024

Hero Realty, renowned for its innovative concepts, dedication to sustainability, and client-centric approach, celebrated Navratra by unveiling the new sales gallery for Phase 2 of Hero Homes Ludhiana. Channel partners and guests attended the event, which began with a traditional Havan Puja and continued with a brunch. The sales gallery provides a modern, immersive experience for potential homebuyers, showcasing the development's features through advanced technology. Phase 2 focuses on delivering smart, sustainable homes that cater to a balanced lifestyle. The Navratri celebration and the gallery's forward-thinking design reflect Hero Realty's commitment to building high-quality, innovative homes.Read more

15 Oct 2024

Navin's, a renowned name in Chennai's real estate landscape, ventures into Bengaluru with the launch of Navin's Antheia Poetry, a luxury condominium project located in JP Nagar at Dollars Colony, Bannerghatta. Offering opulent 2, 3, 3.5, and 4 BHK residences, this project boasts state-of-the-art amenities and sustainable features, aiming to blend modern convenience with nature. With prices starting from INR. 4.2 crore, it promises an elevated living experience in one of Bengaluru's most dynamic neighbourhoods.Read more

15 Oct 2024

Godrej Properties Ltd reported a 3% year-on-year (YoY) increase in sale-bookings to nearly INR 5,200 crore in Q2 FY25, the highest for the quarter. The firm sold over 5.1 million sq ft, driven by strong housing-demand. In the first half of FY25, Godrej achieved record-breaking sales of over INR 13,800 crore, surpassing its FY23 annual-sales. The company sold over 8,600 homes totaling 14 million sq ft. CEO Gaurav Pandey credited the growth to an improved project-mix and 89% volume growth, leading to record collections of INR 7,000 crore and operational cash flow growth of 200%.Read more

15 Oct 2024

Delta Corp has approved the demerger of its hospitality and real estate divisions, forming a new entity, Delta Penland Private Limited (DPPL). This move aims to streamline operations and unlock growth potential in both sectors. DPPL will become a wholly owned subsidiary of Delta Corp, with plans to go public, pending regulatory approval. Shareholders will receive one DPPL share for each Delta Corp share they own. The demerger is expected to be completed within 10-12 months, boosting Delta Corp's focus on its gaming business.Read more

14 Oct 2024

Earlier this week, 51 buyers of Amrapali Dream Valley Enchante in Greater Noida West received the keys to their long-awaited apartments, marking a significant milestone after years of delays. The NBCC began the handover process four years after taking charge of the stalled project. While some buyers celebrated their new homes, others are still awaiting possession. The Supreme Court's earlier intervention, holding Amrapali accountable for fund misappropriation, has paved the way for the ongoing completion of this project.Read more