30 Sep 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced a housing scheme in Sector 22D, strategically located near the Noida International Airport, Film City, and Toy Park. This initiative offers 1,239 flats across three categories, with prices ranging from INR 21 lakh to INR 45 lakh, available on a first-come, first-served basis. Bookings commenced on September 19 and will continue until March 31, 2025. Notably, 17.5% of the flats are reserved for farmers affected by land acquisition for development. The project promises excellent connectivity to key economic hubs and attractions.Read more

30 Sep 2024

Chennai's Casagrand Premier Builder has submitted a draft red herring prospectus (DRHP) to SEBI, seeking to raise INR 1,100 crore through an IPO. This plan encompasses a fresh issue of INR 1,000 crore and an offer for sale of INR 100 crore. The company enjoys a notable market share of approximately 24% in launches and 20% in demand within Chennai's residential sector. It intends to utilise the funds for repaying certain borrowings and enhancing its digital infrastructure. With 101 completed projects and 42 ongoing, Casagrand is also expanding into Bengaluru, Hyderabad, and Coimbatore, demonstrating significant growth in revenue and profits recently.Read more

27 Sep 2024

The National Company Law Tribunal (NCLT) has directed the interim resolution professional (IRP) to respond to applications from over 26,000 homebuyers of Supertech Ltd. Authorized Representatives, representing 26,500 buyers from eleven projects, submitted a 'Common IA' to protect their rights. They support NBCC's takeover, provided the plan is favorable to them. Key demands include a forensic audit of Supertech, removal of its management, and no price increases for existing buyers. The court has invited feedback from stakeholders, while support for NBCC grows among homebuyers.Read more

27 Sep 2024

Womeki Group has launched Eye of Goa, a INR 350-crore luxury residential project along Kalavi Beach in Sindhudurg, Maharashtra. This 78-acre development blends modern architecture with eco-conscious design, reserving 65% of the area for green spaces. The project offers spacious villa apartments and plots priced between INR 50 and 60 lakhs, with an emphasis on sustainability, using energy-efficient systems and green materials. With its scenic coastal location, proximity to Goa, and focus on luxury, the project is expected to attract significant interest from homebuyers and investors alike.Read more

26 Sep 2024

Arkade Developers' IPO, priced between INR 121-128 per share, opened from 16 to 19 September 2024, aiming to raise INR 410 crores. The offering, which includes only new shares, saw strong interest, being subscribed nearly 70 times, with significant contributions from anchor investors who provided INR 122.40 crore. The proceeds will fund current and future projects, including land acquisitions. Arkade Developers, known for high-end residential properties in Mumbai, has developed 1.80 million square feet and sold 792 units since 2017. The shares, managed by Unistone Capital, are set to be listed on 24 September 2024.Read more

26 Sep 2024

Wave Group is divesting part of its land bank in Wave City, Ghaziabad, to boost cash flow, with plans for approximately 12 million square feet of development by various builders. The company also aims to launch a project offering seven million square feet of premium and affordable housing. Demand for premium apartments has surged, causing a nearly 30% price increase in the secondary market. In contrast to prices in Noida and Gurgaon, which exceed INR 15,000 and INR 20,000 per square foot, Wave City offers rates below INR 9,000. Currently, over 4,000 families reside in the township.Read more

26 Sep 2024

The Unitech Group's government-appointed board has filed a petition seeking the release of INR 1,257 crore in assets seized by the Enforcement Directorate during a money-laundering investigation into alleged fraud by former promoters. The ED has shown willingness to restore these properties, which would allow the board to resume construction on stalled projects, helping thousands of waiting homebuyers. The board claimed that the diversion of funds resulted in liabilities over INR 25,000 crore and significant losses. It proposed delivering homes at the original booking prices, despite increased construction costs, while highlighting the need to restore the detained properties.Read more

25 Sep 2024

Chevron Corporation has partnered with RMZ Corporation to establish the Chevron ENGINE, an engineering and innovation centre in Bengaluru, leasing around 0.3 million square feet of commercial space. This state-of-the-art facility aims to harness India's skilled workforce and address global energy challenges, contributing to economic growth. RMZ plans to expand its office portfolio to 50 million square feet across six cities. Both companies underscore India's appeal as a destination for multinational corporations, with a focus on advanced, technology-driven workspaces that promote local talent and support the future of the energy sector.Read more

24 Sep 2024

Awfis, India's leading flexible workspace provider, has launched a new 30,221 sq. ft. centre in GIFT City, Gandhinagar, positioning itself as the sole flexible space provider within a Grade-A development in this premier financial and technology hub. This expansion boosts Awfis' footprint to 83,500 sq. ft. in Ahmedabad. Chairman Amit Ramani highlighted the growing demand for scalable, adaptable office solutions, emphasising that flexible workspaces represent the future of commercial real estate. Awfis aims to expand by adding 40,000 new seats in FY25, pushing its total capacity to 135,000, reinforcing its leadership in India's growing workspace sector.Read more

24 Sep 2024

Adani Realty has added a special touch to this year's Ganesh Chaturthi celebrations with a striking visual tribute to Lord Ganesha. Their projects, Views and Ten BKC, feature homes illuminated to create a captivating image of the deity, lighting up Mumbai's skyline. This unique display blends modern real estate design with the festive spirit, turning the developments into festive landmarks. The tribute has received widespread admiration from both locals and visitors for seamlessly incorporating cultural reverence into contemporary spaces, becoming a key highlight of the city's celebrations and solidifying Adani Realty's commitment to blending innovation with tradition.Read more