10 Sep 2024

Siddha Group, in collaboration with Sejal Group, announces the Express of Interest (EOI) Phase for their final tower, "WOW OR NEVER," at 'Siddha Sky' in Sion NX. From August 29 to October 3, 2024, buyers can access EOI benefits worth INR 21 Lacs. The project features 5 towers with 39 storeys each, connected by Mumbai's first Rooftop Skywalk. Offering 2 & 3 Bed Lifestyle Residences, it includes over 4 acres of open space, a 22,000 sqft Resident's Club, and a range of unique amenities.Read more

09 Sep 2024

Birla Estates has partnered with LGCPL Group to develop a 131-acre land parcel in Sector 150, Noida. This project, pending necessary approvals, will feature a 50-acre golf course and top-tier sports facilities. Located near the Noida-Greater Noida Expressway and the Yamuna Expressway, the site offers excellent access to Delhi, Noida, and Greater Noida. This venture is part of Birla Estates' broader expansion plan, which includes a five-acre plot in Sector 71, Gurugram, expected to generate over INR 1,400 crore in revenue. Additionally, Ekamaya Properties, a subsidiary, recently acquired land in Kalwa, Maharashtra, for INR 595 crore.Read more

09 Sep 2024

Following its acquisition of Jaypee Infratech Ltd (JIL) on June 4, 2024, Suraksha Group has outlined a resolution plan to address JIL's debt and revive its projects. The plan includes allocating 2,552 acres of land to lenders, injecting INR 125 crore in equity, and securing INR 3,000 crore in loans to complete 20,000 residential units. With an estimated need of INR 6,500-7,000 crore to finish 160 towers, Suraksha aims to restart construction by October 2024. Governance changes and a payment of INR 1,334 crore to YEIDA are also part of the strategy, reflecting broader real estate sector challenges.Read more

09 Sep 2024

Curated Living Solutions Pvt Ltd (CLSPL) and Shree Banbai Nenshi Trust (BNMV) Trust have partnered to launch Ivy League House, a 325-bed student hostel in Juhu, Mumbai. Spanning 100,000 square feet on Gulmohar Road, this all-female hostel caters to students from nearby institutions like NMIMS and Mithibai College. The initiative reflects a rising trend in premium student accommodations amid high demand and urban challenges. Emphasizing secure, supportive living environments, the project aims to set new standards in student housing. With a projected shortfall of 20 million student beds by the decade's end, this development addresses a crucial market need.Read more

09 Sep 2024

Macrotech Developers has acquired Opexefi Services and One Box Warehouse for INR 46.67 crore and INR 49.09 crore, respectively. Both companies will operate as wholly-owned subsidiaries, marking Macrotech's entry into the logistics and digital infrastructure sectors. This strategic move aims to enhance operational efficiencies and meet growing market demands driven by e-commerce and technological advancements. The acquisitions align with the expanding logistics market in India, projected to reach USD 215 billion by 2025. Macrotech's investment reflects its commitment to diversifying its portfolio and strengthening its presence in the industrial sector.Read more

06 Sep 2024

Urban Vault, a managed co-working firm, has leased 100,000 square feet of prime office space at Brigade Summit in Whitefield, Bengaluru, to meet the growing demand for managed workspaces. The new facility will house over 2,000 desks, with a per-seat cost of INR 9,000 and above-monthly. Urban Vault, with over 20 lakh square feet of office space and 30,000 desks in its portfolio, plans to expand into Pune, Gurugram, Hyderabad, Delhi-NCR, and Mumbai. The company reported a turnover exceeding INR 100 crore in the 2023-24 fiscal year, driven by the demand for Grade A office space.Read more

06 Sep 2024

The Supreme Court has cleared the way for the NBCC, a public sector undertaking, to construct nearly 8,000 additional apartments in six of the 24 stalled Amrapali projects in Greater Noida and Noida. The funds generated from the sale of these flats will be used to recover project costs and clear the dues owed by the bankrupt real estate developer Amrapali to the Noida and Greater Noida authorities. Amrapali had declared bankruptcy in 2017 and abandoned the 24 projects, leaving thousands of homebuyers in the lurch. The Supreme Court has allowed NBCC to pay INR 743.16 crore to the authorities for a higher floor area ratio (FAR) to expedite the construction work.Read more

06 Sep 2024

Unitech has resumed the construction of its long-stalled South Park project in Gurugram's Sector 70, which was halted in 2013. Originally intended to deliver 832 flats across 27.4 acres, only 672 units were sold before work stopped. The new management, appointed after a Supreme Court order, secured necessary clearances and plans to complete the project within three years. An additional 4.31 acres have been acquired to expand the project. Safety assessments are being conducted, and a quarterly payment plan for buyers has been introduced. However, buyers face challenges in securing loans, with some planning to seek court intervention.Read more

05 Sep 2024

The Chapter, a luxury holiday home developer backed by prominent figures like Nadir Godrej, Anand Piramal, and the Burman family of Dabur India, plans to invest over INR 850 crore to develop high-end villas across key leisure destinations in India. The company, part of the Isprava Group, has acquired over 100 acres in Goa, Alibaug, Karjat, and Kasauli with an initial investment of INR 450 crore. Boosted by a INR 200 crore funding round led by Symphony International Holdings, The Chapter is expanding rapidly to meet the growing demand for branded luxury villas, with 600 villas under construction and 200 already delivered.Read more

05 Sep 2024

Omaxe Group has launched 'The Omaxe State,' India's first 5-in-1 destination for sports, retail, hospitality, food, and culture, spanning 50.4 acres in Dwarka Sector 19-B, New Delhi. Developed in partnership with the Delhi Development Authority (DDA) and involving an investment of over INR 2500 crore, the project includes a state-of-the-art cricket and football stadium, an international multi-sports indoor arena, and India's largest F&B space. It also features an air-conditioned high-street retail area, exclusive sports and leisure clubs, and various top-tier amenities. Set to revolutionize Delhi's infrastructure, the project is expected to generate over INR 4,200 crore in revenue and be completed by 2027.Read more