23 Aug 2024

Chandak Group, a leading Mumbai real estate developer, launched an innovative digital Raksha Bandhan campaign titled "Deliver Rakhi in Just 30 Seconds." This initiative addressed the challenges of geographical distance by allowing siblings to send personalized Digital Rakhis instantly via an Augmented Reality (AR) filter. Running from August 17 to August 19, 2024, the campaign saw over 3,000 Digital Rakhis sent globally, blending modern technology with traditional celebrations. The campaign bridged distances, making Raksha Bandhan a memorable occasion for families and communities.Read more

22 Aug 2024

Max Estates has received approval from the Noida authority for its 'Delhi One' commercial project in Sector 16B, following the settlement of INR 613 crore in dues. The project, initially stalled due to financial issues, will now proceed after Max Estates agreed to a payment plan under a resolution plan approved by the NCLT in February 2023. The development will add 2.8 million square feet of office and residential space, with significant portions already constructed. This approval marks a crucial step for Max Estates and underscores Noida's commitment to advancing commercial real estate and economic growth.Read more

22 Aug 2024

Ashiana Housing and Arihant Foundations are investing INR 225 crore in a senior living residential project, Swarang, in Nemmeli, Chennai. Spanning 10.87 acres on the East Coast Road, this luxury project is set to generate INR 450 crore in sales. Swarang will offer 1 to 3 BHK units and penthouses, priced between INR 84 lakh and INR 2.08 crore, with the first phase completing by September of 2027. Featuring amenities like sports facilities, gyms, and 24/7 security, Swarang caters to Chennai's growing senior population. This marks Ashiana's ninth senior living project in India and third in Chennai.Read more

22 Aug 2024

India's real estate sector is grappling with about 500,000 stalled homes, impacting nearly one-fifth of under-construction projects, according to PropEquity. Major cities like Mumbai and Greater Noida are most affected, with delays often stretching three to four years. Despite the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, which raised INR 15,530 crore, only 32,000 units have been completed. Legal disputes and financial mismanagement further complicate the situation. The Real Estate Regulation and Development Act (RERA) aims to improve transparency, but challenges persist. Enhancing oversight and streamlining approvals are crucial for revitalizing the sector.Read more

21 Aug 2024

Incuspaze, a leading coworking space provider founded in 2016 by Sanjay Choudhary, has expanded its portfolio by leasing 400,000 square feet in Noida's Alphathum building. This move addresses the increasing demand for flexible workspaces, particularly among multinational corporations (MNCs). With 44 centres across 18 cities, Incuspaze now manages 3.5 million square feet of coworking spaces. Partnering with Bhutani Group, Incuspaze aims to offer innovative office solutions featuring modern amenities and flexible leases. The collaboration reflects the growing preference for adaptable workspaces amid the rise of hybrid work models, positioning Incuspaze to meet the evolving needs of businesses.Read more

21 Aug 2024

Kotak Investment Advisors Ltd. (KIAL) has committed INR 450 crore to revive Supertech's stalled project in Sector 94, Noida, alongside an additional INR 310 crore to repay existing lenders. The 5 million-square-foot development, already 50% complete, includes NCR's tallest residential tower. The project, expected to generate over INR 7,000 crore in revenue, will proceed with Supertech, KIAL, and the Noida Authority managing the escrow account. Supertech's liabilities total INR 8,000 crore, but with project receivables exceeding INR 14,000 crore, the company remains financially viable as it works to deliver over 15,000 homes.Read more

21 Aug 2024

Maestro Realtek has partnered with GS Group for a landmark commercial and retail project on Kesnand Road, Wagholi, Pune. Spanning 5.5 acres, the development will feature five state-of-the-art towers with premium offices and retail showrooms, offering unparalleled opportunities for businesses and investors. Nitin Gupta, Managing Director of Maestro Realtek, emphasized the partnership's goal to set new benchmarks in commercial real estate, enhancing business growth and innovation. With advanced infrastructure and strategic location, this collaboration is poised to redefine the commercial landscape in Wagholi. Maestro Realtek is committed to delivering results-driven solutions and becoming India's top real estate brand.Read more

21 Aug 2024

L&T Realty has partnered with Valor Estate to develop a residential project in Bandra Reclamation, Mumbai, with an investment of over INR 8,500 crore. The project will cover 7.5 acres and feature 1.6 million square feet of luxury housing, including a planned 200-key hotel. Valor Estate will retain 20% of the revenue if sales are below INR 55,000 per square foot, with potential to increase to 27% if sales exceed INR 80,000. The development, delayed since 2006, aims to be completed in five to six years and includes rehabilitating 1,050 tenements by 2027-28.Read more

20 Aug 2024

Sobha Ltd consolidated net profit plunged 50% YoY to INR 6.06 crore in Q1 FY25, down from INR 12.05 crore a year ago, as total income declined to INR 669.85 crore from INR 939.24 crore. Despite reduced revenue, sales rose 28% YoY to INR 1,874 crore, with Gurgaon and Bangalore contributing significantly. Sobha sold 562 units, achieving an average price realisation of INR 15,941 per sq ft. The company's debt-equity ratio improved to 0.47, marking 15 quarters of debt reduction. Sobha plans to launch 18.30 million sq ft of residential projects to drive future growth.Read more

20 Aug 2024

Godrej Properties plans to unveil new residential projects worth INR 21,000 crore across major Indian cities by March 2025, driven by robust consumer demand. The company aims to increase its sales bookings by 20% this fiscal year, targeting INR 27,000 crore in sales. Following an 84% surge in bookings to INR 22,527 crore last year, Godrej focuses on metropolitan areas and tier II cities. The company has already launched INR 9,000 crore worth of projects this year and reported a significant rise in net profit to INR 520.05 crore in Q1.Read more