22 Dec 2023

The Enforcement Directorate (ED) has initiated a case against Tulsiani Builders' Chief Managing Director Anil Kumar Tulsiani and Director Mahesh Tulsiani under the Prevention of Money Laundering Act (PMLA) for allegedly securing a loan of Rs 4.63 crore with forged documents. The ED's action follows a complaint from Punjab National Bank, asserting that the directors failed to respond to requests for loan recovery. The investigation also reveals allegations of money laundering and deceptive practices, including collecting funds from homebuyers without the necessary land for construction, prompting the ED to issue summons to the firm's directors.Read more

21 Dec 2023

Casagrand, a prominent South Indian real estate developer has introduced Casagrand Dior, an upscale residential community in Chennai's Kilpauk. Comprising 30 meticulously designed 3 and 4-bedroom apartments, the project offers a seamless blend of functionality and aesthetics, with prices starting from Rs.2.71 Crores. Casagrand Dior boasts contemporary architecture with features like a glass façade, grand entrance arch, and landscaped block entrances. Casagrand Dior caters to the growing demand for exclusive, well-located residences. The apartments prioritize spacious living, double balconies, and maximum ventilation. Apart from excellent connectivity and accessibility, the units are complemented by ultra-luxurious amenities, including a rooftop cabana, private barbecue station, and fitness frame.Read more

21 Dec 2023

Emaar India, a subsidiary of Emaar Properties, is set to invest Rs 900 crore in a luxury housing project in Gurugram as part of its expansion strategy. The 'Urban Oasis' project at Sector 62, Golf Course Extension Road, has already sold out its first phase, comprising 424 luxury homes, generating revenue of Rs 1,723 crore. The overwhelming response, with 10 times subscription and 4,259 expressions of interest, reflects robust demand for luxury homes in Gurugram and major cities. Emaar India, having completed legacy projects, aims to launch more residential developments in Delhi-NCR and other North Indian locations.Read more

20 Dec 2023

Dosti Realty is making its foray into redevelopment with rights secured for a Thane project near the Eastern Express Highway. The 1 lakh sq ft land parcel promises a cumulative development potential of 3.10 lakh sq ft, with 2.10 lakh sq ft available for sale. The project has a revenue potential of over Rs 400 crores and is slated for a launch in FY 24-25. In addition to this, Dosti Realty is also said to be finalising two cluster redevelopment projects in Mumbai at an estimated investment of over Rs 1,000 crore. The company witnessed robust sales this fiscal year with sales exceed 3,000 residential units.Read more

20 Dec 2023

Chalet Hotels Ltd. and K Raheja Corp Homes have joined forces to launch Raheja Vivarea, a luxury residential project in Koramangala, Bengaluru.. Encompassing 8.25 acres, the development offers high-end gated residences and Grade A commercial space. The project comprises nine towers and a total saleable area of 8.5 lakh sq. ft., with four towers have already received Occupancy Certificates. The project offer spacious 3 & 4 BHK apartments with decks and over forty common amenities. The collaboration leverages Chalet Hotels' expertise in hospitality and asset development with K Raheja Corp Homes' marketing prowess.Read more

19 Dec 2023

Godrej Properties is launching the 'Godrej Aristocrat' luxury housing project in Gurugram, anticipating a revenue potential of approximately Rs 3,000 crore. With nearly 750 apartments in a 9.5-acre plot, the project at Sector 49, Gurugram, has a starting price of Rs 4 crore per unit. The company has already garnered over 1,200 expressions of interest. On the real estate performance front, Godrej Properties achieved a 48% growth in sales bookings during April-September 2023.Read more

19 Dec 2023

Mumbai police's Economic Offences Wing (EOW) has arrested developer Jayesh Tanna in connection with a housing fraud case involving 28 home buyers and Rs 40 crore. This marks Tanna's third arrest in housing fraud cases, as part of the ten FIRs he faces. The latest case involves the Goregaon Pearl Cooperative Housing Society, where Tanna allegedly diverted funds, failed to deliver promised flats, and left the project incomplete. Previous allegations include selling the same property to multiple buyers. Mumbai police's actions reflect a commitment to addressing malpractices and safeguarding homebuyers' interests.Read more

15 Dec 2023

DLF Group is set to re-enter Mumbai's property market with a project in Andheri West which is part of a Slum Rehabilitation Authority (SRA) initiative. The project is being developed in partnership with Trident Group. The first phase of this project encompasses 1 million sq ft, with DLF injecting Rs 400 crore as equity. DLF holds 51% of the special purpose vehicle and aims to launch before June 2024. This Andheri West project serves as a pilot and will influence DLF’s future Mumbai strategies. DLF's return follows strong financials, reporting a 29% YoY rise in Q2 net profit and targeting Rs 13,000 crore in sale bookings for the fiscal year.Read more

14 Dec 2023

Prestige Group, a prominent real estate developer, unveiled its first project in Calicut - Prestige Ocean Pearl. Spanning 6.5 acres along the beach road, the property hosts 530 finely-crafted homes in four high-rise towers, showcasing 3 and 4-bedroom units. Strategically located with excellent road connectivity, it boasts a landscaped podium, ensuring serene living. Amenities include an infinity pool, gym, clubhouse, and more, alongside a commitment to sustainability. The property's unique design offers maximum privacy, natural light, and cross ventilation. Prestige Ocean Pearl is set to redefine living in Calicut, combining luxury, strategic location, and eco-friendly features.Read more

14 Dec 2023

Shriram Properties (SPL) is set to strive for ambitious targets in FY23-24, projecting 4.8 million sq ft of pre-sales volume, valued between Rs 2,400 to Rs 2,500 crore. H1 FY24 results showcase sales volumes of 1.9 million sq ft and sales values of Rs 1,066 crore. SPL intends to deliver around 7 million sq ft in the next two years, with Pune as a focus for a 2 million sq ft project. The company is eying three new project launches in Q3 FY24. The New Delhi-based real estate firm is said to be seriously considering the fractional ownership model, anticipating market traction. The company, however, does not plan to explore Real Estate Investment Trusts (REITs) due to challenges in acquiring Grade-A assets.Read more