22 Oct 2024

Iraah Lifespaces, a newcomer in ultra-luxury villa development, has launched bespoke properties in Maharashtra's prime locations-Alibaug and Lonavala. These high-end villas, located near celebrity homes, cater to ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), CXOs, and NRIs. Designed to reflect luxury and elegance, the villas blend contemporary aesthetics with natural beauty, offering a tranquil yet luxurious lifestyle. Founder Vikas Sutaria emphasized the brand's focus on creating lifestyle destinations that meet the aspirations of their elite clientele. With growing interest in wellness and spacious homes, Iraah Lifespaces is strategically positioned to lead the luxury villa market, incorporating sustainable practices while offering unparalleled living experiences in Maharashtra's scenic locales.Read more

22 Oct 2024

Godrej Properties (GPL) has won the bid to develop a 6.54-acre group housing project in Kharghar, Navi Mumbai, offering around two million square feet of residential space with an estimated revenue potential of INR 3,500 crore. In the first half of the financial year, GPL saw a 62% rise in collections and over 200% growth in operational cash flow. The company added eight new projects, with a saleable area of 11 million square feet and a booking value potential of INR 12,650 crore.Read more

21 Oct 2024

Gaurs Group, a leading NCR-based real estate developer, plans to raise funds for a 5 million sq ft commercial project in Noida. The project, spread over 18 acres, will include 2.5 million sq ft of retail space, 2 million sq ft of A-Grade office space, a convention centre, and a hotel, requiring an INR 3,000 crore investment. Additionally, the company launched a 12-acre luxury project in Ghaziabad, selling 1,200 apartments in three days, and plans an ultra-luxury project in Noida's Jaypee Greens. Gaurs Group aims to reduce debt with INR 4,500 crore in receivables.Read more

21 Oct 2024

Sobha Ltd, a leading real estate firm, reported a 32 per cent decline in sale bookings for the July-September quarter, totalling INR 1,178.5 crore, compared to INR 1,723.8 crore in the same period last year. The company sold 929,907 square feet of property, down from 1,686,196 square feet a year ago. In the first half of the fiscal year, sales amounted to INR 3,052.2 crore, slightly lower than the INR 3,188.5 crore recorded last year. Despite robust housing demand, Sobha's sales volume has declined, though it remains a significant player with projects across south India, Delhi-NCR, Pune, and Gujarat.Read more

21 Oct 2024

Sattva Group and Bain Capital have entered a USD 100 million partnership to develop a built-to-suit co-living platform under the management of Colive. This move marks the largest funding in the co-living sector to date. With Colive's established presence in the rental home market, the collaboration aims to cater to executives seeking serviced living spaces. This venture underscores the growing demand for co-living solutions in India's major cities, especially post-pandemic, as the market is expected to expand significantly.Read more

21 Oct 2024

Ajmera Realty & Infra India Ltd reported a modest 1% rise in its sale bookings during the second quarter of the fiscal year 2024-25, recording INR 254 crore. However, the company experienced a significant 18% increase in total sale bookings during the first half of the current fiscal year, reaching INR 560 crore, reflecting its successful strategy in navigating market challenges and capitalising on the growing interest in the residential real estate segment. Headquartered in Mumbai, Ajmera Realty & Infra India Ltd. is one of the leading real estate developers in the country.Read more

18 Oct 2024

Godrej Properties has made significant strides in its growth by acquiring six new land parcels in the July-September quarter, aimed at developing housing projects worth INR 9,650 crore. This acquisition reflects the company's strategy to expand in the midst of rising housing demand driven by urbanization. Utilizing a combination of direct purchases and partnerships for joint development, Godrej has also secured a total of eight new parcels this fiscal year, offering an estimated saleable area of 11 million square feet and a potential booking value of INR 12,650 crore. With 63 percent of its annual land acquisition target already met, Godrej is reinforcing its market position.Read more

18 Oct 2024

OYO-owned Innov8 has launched a new vertical in the managed office space sector, signaling its expansion into this growing market. With plans to add 4 million square feet of managed office space in India over the next three years, the startup is investing INR 50 crore to develop high-quality infrastructure. Innov8 aims to construct Grade A buildings featuring premium amenities, including a significant project in Mumbai. Established in 2015 by Malik, Innov8 currently operates in nine cities, serving over 350 brands, including notable names like Swiggy and PhonePe. OYO acquired the company in 2019 for approximately INR 220 crore (USD 31.84 million).Read more

18 Oct 2024

In August 2024, Oberoi Realty received approval from the National Company Law Tribunal (NCLT) to acquire Nirmal Lifestyle through the corporate insolvency resolution process. Nirmal Lifestyle holds rights to over 20,000 square meters of land in Mulund West, Mumbai, located adjacent to Oberoi's Eternia project, offering valuable expansion potential. Oberoi Realty will settle Nirmal's INR 273 crore debt, purchasing the company's equity for INR 1 lakh, making Nirmal Lifestyle a fully-owned subsidiary. Additionally, Oberoi plans to raise INR 6,000 crore to fund future projects through phased issuance of shares and other instruments. With these moves, Oberoi Realty is strengthening its foothold in Mumbai's competitive real estate market, enhancing its growth outlook, especially in suburban and high-growth regions.Read more

18 Oct 2024

Transcon has commenced the phased handover of 148 SRA units to residents of Sai Durga SRA Co- operative Housing Society in Santacruz, Mumbai. The event, attended by urban development advocate Shri Ashish Shelar, highlighted the company’s commitment to safe and adequate housing. Director Shraddha Kedia-Agarwal emphasized the focus on sustainability and community needs. The newly built homes prioritize comfort and essential amenities, reinforcing Transcon's dedication to positively impacting urban living and fostering growth in the community.Read more