08 Feb 2024

Vamsiram Builders, a prominent real estate firm based in Hyderabad, has lodged a complaint with the registrar of companies (ROC) and the ministry of corporate affairs, alleging misconduct in two Mumbai redevelopment projects worth INR 3,000 crore. The complaint accuses a Mumbai-based entity of fraudulently exploiting Vamsiram Builders' identity, including its name, logo, and project details, to execute these ventures in affluent areas like Khar West and Prabhadevi. Specifically naming Vamsiram Realty Pvt Ltd and its directors, the complaint cites instances of identity theft, urging swift regulatory action to rectify the breach and protect the company's reputation and interests.Read more

08 Feb 2024

Raymond reported a significant 91.92% increase in net consolidated profit for Q3 FY24, reaching INR 185.39 crore compared to INR 96.60 crore in the previous year. Consolidated total income rose to INR 2,450.32 crore, a growth of 11.40%. Raymond Realty's sales surged from INR 292 crore to INR 439 crore. Real estate segment revenue hits INR 435.98 crore, with a profit before tax of INR 94.18 crore. It has signed joint development agreements (JDA) exceeding INR 3,000 crore, contributing to a pipeline of projects worth over INR 5,000 crore. With INR 9,000 crore worth running projects and others potentially generating INR 16,000 crore, the revenue from Thane land is estimated to be INR 25,000 crore.Read more

07 Feb 2024

Arvind SmartSpaces Limited (ASL) ventures into Surat with a sprawling golf-themed development project spanning 300 acres, valued at INR 1,100 crore. Positioned along NH 48, it marks ASL's 19th project in Gujarat, following Ahmedabad and Gandhinagar. The joint development model ensures low capital intensity and higher returns (55% revenue share). Surat's strategic location as a business hub, coupled with its emerging demand for plotted development and weekend homes, enhances the project's appeal. Noteworthy features include a golf course, expansive clubhouse, orchards with thousands of trees, and a private lake. For future growth, ASL's expansion strategy targets Bengaluru, Pune, and MMR regions.Read more

06 Feb 2024

Prestige Group celebrates the early completion of The Prestige Tranquil, a luxury residential project in Hyderabad, showcasing the company's commitment to exceptional living spaces. Spanning 7.85 acres in Kokapet, the project offers seamless connectivity near the Outer Ring Road, Airport, and Financial District. The high-rise boasts panoramic views, lavish amenities, and contemporary design, setting a new standard in Hyderabad's real estate. The clubhouse features a pool, café, banquet halls, and sports facilities, while landscaped spaces promote outdoor activities.Read more

06 Feb 2024

Forbes Global Properties has made its foray into the Indian real estate market with 'India Forbes Global Properties,' initially focusing on Mumbai, Delhi, and Goa. The venture will provide brokerage services for luxury residences, collaborating with local developers on ambitious projects covering 10 million square feet in Mumbai and Delhi. A mixed-use project in Navi Mumbai and an upscale retail, club, and hotel space in Delhi are in the works. The company explores opportunities in Ayodhya and plans to acquire equity stakes in two consultancy firms. Operating under the Forbes brand, it targets the luxury real estate segment, aiming to tap into India's growing demand for ultra-luxurious homes in 2024.Read more

05 Feb 2024

Sunteck Realty Ltd unveils ambitious plans for upscale housing projects in Mumbai's exclusive Nepean Sea Road and Bandstand in Bandra West. Projected to generate around INR 3,000 crore, these ventures signify Sunteck's strategic expansion into prime Mumbai locations, showcasing its commitment to redefine the city's real estate landscape. With a debut in South Mumbai at Nepean Sea Road, Sunteck aims to deliver ultra-luxurious residential apartments, capitalizing on the market's demand for high-end living spaces. The move aligns with Sunteck's impressive growth trajectory, doubling its Gross Development Value from INR 12,500 crore in FY2022 to INR 30,100 crore in FY2024. The projects underscore Sunteck's proactive approach to market trends and evolving consumer preferences in Mumbai's thriving property market.Read more

05 Feb 2024

Ashwin Sheth Group launches "FERN'' at Sheth Vasant Lawns in Thane, the ninth tower of the esteemed project spanning 7 acres. Featuring 2, 3, and 4 BHK residences, including Jodi apartments, FERN offers apartments starting from 840 sq. ft at INR 1.57 crore onwards. With only four apartments per floor, Vastu Compliance, and scenic views of Yeoor Hills, FERN epitomizes luxury living. Thane has emerged as a sought-after location for homebuyers, boasting connectivity to Mumbai and witnessing a rise in property demand. With 25+ amenities, proximity to Viviana Mall, Jupiter Hospital, and esteemed educational institutions, FERN promises an unparalleled urban lifestyle in Thane's Platinum Belt.Read more

05 Feb 2024

Vijay Jeswani Builders & Developers present 'Parivaramm,' an upscale residential project in Vavandhal near Panvel. Parivaramm offers luxury and affordability with amenities like a clubhouse and premium elevations. Strategically located at Chowk Junction, Vavandhal, near the National Highway, the project benefits from Panvel's infrastructure development and connectivity, promising good returns. Parivaramm provides a range of housing options from Studio Apartments to 2BHK residences, with prices starting attractively. Exclusive booking deals, including incentives like scooters and modular kitchens, add to its appeal. Possession is scheduled for March 2024.Read more

02 Feb 2024

Shapoorji Pallonji Real Estate (SPRE) unveils 'The Odyssey,' an uber-luxury project off Marine Drive, marking their historic return to South Mumbai. Strategically located near Girgaon Chowpatty, it offers seamless connectivity to business hubs and essential amenities. Designed by Architect Hafeez Contractor, The Odyssey boasts breathtaking views, grand double-height lobby, and 20 parking floors. With close to 60 apartments for sale, revenues are expected to exceed INR . 1000 crores. Priced from INR 15 crores, the meticulously designed 3 BHK apartments redefine luxury living. SPRE's Director, Venkatesh Gopalakrishnan, emphasizes their commitment to crafting luxurious environments, setting new standards in South Mumbai's uber-luxury segment.Read more

02 Feb 2024

DLF has reported a robust 26.60% increase in its net consolidated profit for Q3 FY24, reaching INR 655.71 crore, up from INR 517.94 crore in the same quarter of the previous fiscal year. The net consolidated total income for the quarter stood at INR 1,643.51 crore, reflecting a commendable 5.38% increase from the same quarter last year. The company achieved a substantial quarterly sales booking of INR 9,047 crore, one of the highest ever, driven by premium and high-margin project launches. DLF Cyber City Developers (DCCDL) reported consolidated revenue of INR 1,476 crore, with a YoY growth of 8%. The board has approved the acquisition of shares in three real estate development companies, and the sale of DLF Centre to DCCDL for INR 825 crore, showcasing DLF's proactive portfolio optimization strategy.Read more