25 Oct 2024

The Guardians Real Estate Advisory achieved another milestone by recording over INR 350 crore in sales during the Dussehra weekend, following their previous success of INR 515 crore during Akshaya Tritiya. Launched in 2016, the firm operates across India and Dubai, offering comprehensive real estate services including project management, marketing, and sales. Dussehra, seen as an auspicious time for investments, further boosted buyer interest. Jayesh Rathod, Director and Co-founder, attributes this success to the company's commitment to quality and trust. The company's continued strong performance during key festivals underscores its role in India's thriving real estate market.Read more

25 Oct 2024

AFCONS Infrastructure Ltd, the infrastructure arm of the Shapoorji Pallonji Group, has set the price band for its INR 5,430 crore IPO at INR 440-463 per share. The offering includes a fresh issue of INR 1,250 crore and an offer for sale of INR 4,180 crore. Proceeds will fund capital expenditures, working capital, debt repayment, and general corporate purposes. The IPO opens on October 25 and closes on October 29. AFCONS previously raised INR 2,967 crore from institutional investors in a pre-IPO placement. The company's order book stands at INR 31,747 crore as of June 2024, and it reported a rise in FY24 revenue and profit.Read more

24 Oct 2024

The Maharashtra government has sanctioned INR 41.21 crore for the redevelopment of the Siddharth Vihar hostel in Wadala, following the intervention of Ramdas Athawale, chairman of the People's Education Society and Central Minister of State for Social Justice and Empowerment. The hostel, declared dilapidated in 2015, was demolished by the BMC for safety reasons. Architect Shashi Prabhu initially proposed a renovation plan costing INR 78 crore, but funding delays raised concerns. After continued discussions, the government approved the funds, with the project to be carried out under Public Works Department regulations. This redevelopment will modernize the hostel, honoring BR Ambedkar's legacy and improving educational infrastructure.Read more

24 Oct 2024

AAIJI Group has acquired 50 acres of land in Dholera, Gujarat, with an estimated project cost exceeding INR 150 crore. The company plans to develop a mix of residential options, including 3BHK villas, plots, and retail spaces, contributing to the area's growth. Additionally, the launch of the second phase of Project Lotus 1145 will expand the project's total area to 100,000 square yards. To date, AAIJI Group has invested over INR 100 crore in five projects in Dholera, reflecting its confidence in the region's potential for development.Read more

24 Oct 2024

Oberoi Realty reported a strong 29.05% growth in net consolidated profit for Q2 FY25, reaching INR 589.44 crore, up from INR 456.76 crore in the same period last year. The company's total consolidated income also rose by 9.23% to INR 1,358.62 crore. Oberoi Realty announced a second interim dividend of INR 2 per share and redeemed INR 70 crore in Non-Convertible Debentures, optimizing its capital structure. The board also approved raising up to INR 6,000 crore for future projects. With a robust net worth of INR 14,799.98 crore, a low debt-equity ratio of 0.14, and strong profit margins, the company continues on a growth trajectory.Read more

23 Oct 2024

Shapoorji Pallonji Real Estate (SPRE) has joined forces with KREEVA, the real estate arm of the Kanodia Group, to develop a high-end residential project in Sector 46, Gurugram. The project will span 1.74 acres, offering luxury apartments tailored for discerning buyers in the National Capital Region (NCR). This venture brings together SPRE's real estate expertise and KREEVA's vision, aiming to redefine urban living with superior design, quality construction, and world-class amenities in one of Gurugram's most sought-after locations.Read more

23 Oct 2024

Oberoi Realty's operations committee has approved the issuance of non-convertible debentures worth up to INR 1,500 crore through private placement, as per a filing with the Bombay Stock Exchange. To secure this issuance, a first-ranking pari passu charge has been established on unsold flats in the 'Eternia' and 'Enigma' projects in Mulund (West), Mumbai, along with associated receivables and an escrow account. Additionally, the board has greenlit a proposal to raise up to INR 6,000 crore through various securities, showcasing the company's strategy to bolster its financial position and support ongoing developments.Read more

23 Oct 2024

The Central Building Research Institute (CBRI) has declared Tower A of Chintels Paradiso uninhabitable, marking it as the eighth tower in the complex to be deemed unsafe due to significant structural deterioration from severe corrosion and poor-quality concrete. Previous audits by IIT-Delhi had already classified six other towers as unsafe, with demolition set to begin next month. Although Towers A, B, and C were initially considered safe, further assessments revealed potential issues. A spokesperson for the developer indicated that compensation or reconstruction options will be available for residents once Tower A is vacated.Read more

23 Oct 2024

Paradigm Realty is offering exclusive festive promotions across three of its premier residential projects-Paradigm 71 Midtown in Chembur, Paradigm Anantaara in Borivali (West), and Paradigm Artteza in Santacruz (West). These offers provide significant savings and privileges for homebuyers and investors. At Artteza, luxurious 2 BHK apartments start from INR 3.51 crore, featuring air-conditioned homes and modern modular kitchens. Paradigm Anantaara offers 2 & 3 BHK residences from INR 2.14 crore, with easy payment plans, while 71 Midtown in Chembur has 1 & 2 BHK homes starting at INR 1.09 crore. Offers include low upfront payments, EMI options, and zero SDR, valid until November 30, 2024.Read more

22 Oct 2024

The income tax investigation unit in Hyderabad conducted raids last week at various locations connected to Anvitha Real Estate Group, investigating potential tax evasion. The group is involved in real estate projects across Abu Dhabi, the United States, and Kollur, Hyderabad. Searches were carried out in Hyderabad and Rangareddy districts, targeting offices of directors Atchuta Rao Boppana and Anup Boppana, as well as the registered office in Gachibowli. The probe also extended to related companies like Anvitha Buildpro and Anvitha Assets Private Limited.Read more