06 Nov 2024

Panchshil Realty's subsidiary, Wagholi Estates, sold a 4.8-acre land parcel in Pune's Wagholi to Vilas Javdekar Infinitee Developers for over INR 103 crore. The land is part of Panchshil's 4.5 million sq ft IT park project, with 1 million sq ft designated for residential development in this mixed-use layout. Registered on October 21 with a stamp duty of INR 7.21 crore, the transaction highlights growing demand for land in high-growth areas like Pune. As major cities such as Mumbai, Chennai, and Bengaluru expand, developers and investors are actively pursuing land for new residential, commercial, and mixed-use projects.Read more

06 Nov 2024

The Noida Authority has approved two projects under the Uttar Pradesh government's co-development policy to address stalled real estate developments. Nimbus Projects will oversee Sunworld Residency in Sector 168, and Theme County will manage a project in Sector 115, benefiting approximately 1,000 homebuyers. The initiative follows the Hawelia Group's takeover of Shree Radha Sky Garden in Greater Noida. The new developers are required to settle dues and secure funding to complete the projects. With around 190,000 housing units worth INR 1 lakh crore currently stalled in the region, this policy aims to revitalize the market.Read more

06 Nov 2024

Lodha reported a record pre-sales performance of INR 42.9 billion for Q2FY25, despite seasonal challenges, achieving its third consecutive quarter of over INR 40 billion in pre-sales. The company completed a land sale in Palava to a global data center major, added four projects in Pune and Bengaluru with a GDV of INR 55 billion, and expanded its digital infrastructure stake to 67%. Lodha's net debt remains at INR 49 billion, within its target, and its debt cost declined to 8.9%. The company expects to meet its FY25 guidance of INR 175 billion, boosted by festive demand.Read more

05 Nov 2024

Merlin Group, Kolkata's largest real estate developer, is undertaking projects valued at INR 20,000 crore, which are projected to double its annual revenue within the next seven to eight years. With a development portfolio encompassing luxury residential complexes and commercial spaces, the group has completed 20 million square feet over four decades and currently has 30 million square feet under development. The group is also venturing into hospitality with the eastern region's first World Trade Centre, expected to feature a five-star property. The recent rebranding signifies the company's commitment to growth and innovation.Read more

05 Nov 2024

Max Estates Limited, part of Max Group, reported a consolidated total income of INR 52.77 crore in Q2 FY25, reflecting a nearly 90% increase from the previous year, despite a net loss of INR 1.38 crore. Key developments include the approval of the "Delhi One" project in Noida, with a gross development value of over INR 1,500 crore, and enhanced FAR for a new tower at Estate 128. The company raised INR 1,300 crore for expansion and achieved 93% occupancy in Max Square. For H1 FY25, consolidated revenue reached INR 80.7 crore, alongside strong lease rental growth, indicating potential for future growth.Read more

05 Nov 2024

Urban Vault, a managed office space provider, has announced its expansion in Bengaluru's central business district by leasing 1.2 lakh square feet of office space across three buildings. According to founder Amal Mishra, Bengaluru's availability of affordable real estate and skilled talent make it an attractive destination for companies looking to enter the Indian market. Urban Vault offers desks ranging from INR 8,000 to INR 10,000 per month. During the financial year 2023-24, Urban Vault reported a turnover of over INR 100 crore and a net profit of 18%, with an occupancy level of 91% in its operational centres. With over 20 lakh square feet of office spaces and plans to expand to other major cities, Urban Vault is positioning itself as a key player in the flexible workspace segment.Read more

05 Nov 2024

Following the Supreme Court's directive, registrations for flats at Lotus 300 in Sector 107 have begun, with 16 of over 100 homebuyers successfully completing the initial phase. The court upheld an Allahabad High Court order, mandating Noida Authority to proceed with flat registrations despite pending dues from the developer, resolving a decade-long battle for buyers. Efforts to complete registrations for all units and issue occupancy certificates are ongoing, providing long-awaited relief.Read more

04 Nov 2024

Housr, a leading co-living company, is planning a massive expansion to add over 3,000 beds across 30 new properties in seven cities, pushing their total inventory to over 8,000 beds in 100 properties by March 2025. The company aims to hand over 11-12 properties currently in the pipeline and foray into new markets like Chennai and Chandigarh. The company has seen a dramatic shift in demand, with a preference for single occupancy and larger private spaces over twin-sharing rooms, particularly post-pandemic. Housr has tripled in size over the last two years, driven by both organic and inorganic growth, and is now transitioning to offer super-premium products to cater to the evolving market needs. Housr is operating at an annual run rate of INR 100 crore and aims to double this figure over the next 12 to 15 months.Read more

04 Nov 2024

Godrej Properties Ltd (GPL) has secured the rights to develop a 7.5-acre group housing plot on Golf Course Road in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The plot has a development potential of over 1.7 million square feet, comprising luxury residential apartments with an estimated revenue potential of over INR 5,500 crore. This acquisition is the 11th new project GPL has secured in the current financial year, taking the booking value added through new projects to INR 22,950 crore, surpassing the company's full-year business development guidance. Godrej Properties has also acquired two other prime parcels in the Golf Course Road micro-market, with an estimated revenue potential of over USD 1.5 billion.Read more

04 Nov 2024

Kalyani Developers, known for its commercial projects like Kalyani Tech Park, is expanding into residential real estate with three new projects in North Bengaluru, Whitefield, and Kanakapura Main Road. The company also plans a mixed-use development in Hyderabad and two upscale hotels in North Bengaluru, with a total investment of INR 4,500 crore over the next two years. CEO A. Mohan Raju highlighted Kalyani's commitment to quality and sustainable practices, leveraging its 30-year legacy in commercial and hospitality sectors. This strategic entry into the residential market aligns with Kalyani's vision to deliver diverse, high-value real estate projects catering to evolving market demands.Read more