26 Sep 2024

Arkade Developers' IPO, priced between INR 121-128 per share, opened from 16 to 19 September 2024, aiming to raise INR 410 crores. The offering, which includes only new shares, saw strong interest, being subscribed nearly 70 times, with significant contributions from anchor investors who provided INR 122.40 crore. The proceeds will fund current and future projects, including land acquisitions. Arkade Developers, known for high-end residential properties in Mumbai, has developed 1.80 million square feet and sold 792 units since 2017. The shares, managed by Unistone Capital, are set to be listed on 24 September 2024.Read more

26 Sep 2024

Wave Group is divesting part of its land bank in Wave City, Ghaziabad, to boost cash flow, with plans for approximately 12 million square feet of development by various builders. The company also aims to launch a project offering seven million square feet of premium and affordable housing. Demand for premium apartments has surged, causing a nearly 30% price increase in the secondary market. In contrast to prices in Noida and Gurgaon, which exceed INR 15,000 and INR 20,000 per square foot, Wave City offers rates below INR 9,000. Currently, over 4,000 families reside in the township.Read more

26 Sep 2024

The Unitech Group's government-appointed board has filed a petition seeking the release of INR 1,257 crore in assets seized by the Enforcement Directorate during a money-laundering investigation into alleged fraud by former promoters. The ED has shown willingness to restore these properties, which would allow the board to resume construction on stalled projects, helping thousands of waiting homebuyers. The board claimed that the diversion of funds resulted in liabilities over INR 25,000 crore and significant losses. It proposed delivering homes at the original booking prices, despite increased construction costs, while highlighting the need to restore the detained properties.Read more

25 Sep 2024

Chevron Corporation has partnered with RMZ Corporation to establish the Chevron ENGINE, an engineering and innovation centre in Bengaluru, leasing around 0.3 million square feet of commercial space. This state-of-the-art facility aims to harness India's skilled workforce and address global energy challenges, contributing to economic growth. RMZ plans to expand its office portfolio to 50 million square feet across six cities. Both companies underscore India's appeal as a destination for multinational corporations, with a focus on advanced, technology-driven workspaces that promote local talent and support the future of the energy sector.Read more

24 Sep 2024

Awfis, India's leading flexible workspace provider, has launched a new 30,221 sq. ft. centre in GIFT City, Gandhinagar, positioning itself as the sole flexible space provider within a Grade-A development in this premier financial and technology hub. This expansion boosts Awfis' footprint to 83,500 sq. ft. in Ahmedabad. Chairman Amit Ramani highlighted the growing demand for scalable, adaptable office solutions, emphasising that flexible workspaces represent the future of commercial real estate. Awfis aims to expand by adding 40,000 new seats in FY25, pushing its total capacity to 135,000, reinforcing its leadership in India's growing workspace sector.Read more

24 Sep 2024

Adani Realty has added a special touch to this year's Ganesh Chaturthi celebrations with a striking visual tribute to Lord Ganesha. Their projects, Views and Ten BKC, feature homes illuminated to create a captivating image of the deity, lighting up Mumbai's skyline. This unique display blends modern real estate design with the festive spirit, turning the developments into festive landmarks. The tribute has received widespread admiration from both locals and visitors for seamlessly incorporating cultural reverence into contemporary spaces, becoming a key highlight of the city's celebrations and solidifying Adani Realty's commitment to blending innovation with tradition.Read more

24 Sep 2024

Belicia, a luxury residential project in Thane, developed by Prescon Group and House of Hiranandani, generated over 200 crores in Q1 FY 2024-25, selling more than 80 units. The 48-storey tower, offering 2, 3, and 4 BHK apartments, redefines upscale living with modern amenities and prime location advantages. Set for possession in June 2028, Belicia enjoys proximity to key transport, educational, and healthcare facilities. A report by Prop Equity highlights Thane's robust real estate market, supported by infrastructure projects like the Thane Integral Ring Metro Rail, boosting growth and investment potential.Read more

23 Sep 2024

TREVOC Group has launched TREVOC Royal Residences in Sector-56, Gurugram. This high-end residential project is expected to generate INR 1000 Crore in revenue and features 172 luxury apartments spread across 27 floors. It offers cutting-edge design, a top-tier clubhouse, and a Skydeck with sweeping views. Emphasizing TREVOC's 75-year legacy, the project integrates innovation, functionality, and sustainability. The company is also set to deliver over 5 million square feet of residential space and 1 million square feet of commercial space, alongside plans to develop 75-100 acres of land for future projects.Read more

23 Sep 2024

Bric-X Infra, a leading player in the real estate industry, is celebrating its 5th anniversary, a milestone that reflects its remarkable growth and commitment to excellence. The company plans to expand its footprint in the Delhi NCR region, launch new verticals in the commercial real estate and luxury residential segments, and introduce a specialized venture to cater to the growing demand from Non-Resident Indians (NRIs) for both residential and commercial real estate investments in India. With its strategic expansion plans, diversified offerings, and dedicated service for NRI clients, Bric-X Infra is set to solidify its position as a dominant force in the dynamic real estate market.Read more

20 Sep 2024

Unitech is set to resume its long-delayed housing projects in Noida following the Noida Authority's approval of a revised layout in June 2023, per a Supreme Court directive. Last week, a bhoomi puja was conducted for the Express City project in sectors 96, 97, and 98. The revised plan includes seven towers in Amber, seven in Burgundy, and 397 plots in The Willows, with a mix of residential, recreational, and institutional spaces. Unitech aims to complete these projects within 26 to 36 months, addressing delays and rebuilding buyer confidence.Read more