23 Aug 2024

Emperium's new luxury project, Emperium Premio, is set to transform Gurugram's real estate landscape. Located in Sector 37C along the Dwarka Expressway, Premio offers 216 apartments in 2, 3, and 4 BHK configurations, plus penthouses, ranging from 1308 to 3600 square feet. Each unit features premium fittings, modular kitchens, and a focus on sustainability with rainwater harvesting and energy-efficient systems. The project includes upscale amenities like a double-height lobby, rooftop pool, and fitness centre. Ravi Saund and Hardeep Singh, Founding Directors of Emperium, promise a blend of luxury, convenience, and eco-friendly living.Read more

23 Aug 2024

Ajmera Realty & Infra India Ltd (ARIIL) has received a CRISIL A-/Stable rating, reflecting its strong financial and operational performance. This rating enhances ARIIL's credibility, supporting its plans to optimise its debt profile and pursue new industry collaborations. Managing seven active projects with 11.31 lakh sq. ft. of saleable area, ARIIL has achieved 67% sales and is progressing toward 51% overall completion. The company is also planning seven new projects with a GDV of INR 4,270 crore. ARIIL's proactive approach and recent rating position it as a key player in India's evolving real estate market.Read more

23 Aug 2024

Godrej Properties Limited (GPL) has acquired a 90-acre land parcel in Khalapur, Raigad district, Maharashtra, with plans to develop 1.7 million square feet of residential plotted developments. Positioned near the Karjat-Khopoli Road, this strategic acquisition caters to the growing demand for customizable housing options. The move aligns with GPL's aggressive expansion, including recent acquisitions in Greater Noida, and reflects the company's focus on meeting the needs of modern homebuyers seeking flexibility and space in emerging suburban areas.Read more

23 Aug 2024

The National Company Law Tribunal (NCLT) has approved Oberoi Constructions' INR 273 crore resolution plan to acquire Nirmal Lifestyle Realty, which has been undergoing a corporate insolvency resolution process (CIRP) since December 2021. This acquisition includes a land parcel in the eco-sensitive zone of Sanjay Gandhi National Park, with a 180-day window to obtain necessary approvals. The resolution plan cancels Nirmal's existing equity shares and transfers ownership to Oberoi Constructions. This decision highlights structured processes and regulatory compliance in corporate restructuring under the Insolvency and Bankruptcy Code (IBC).Read more

23 Aug 2024

Chandak Group, a leading Mumbai real estate developer, launched an innovative digital Raksha Bandhan campaign titled "Deliver Rakhi in Just 30 Seconds." This initiative addressed the challenges of geographical distance by allowing siblings to send personalized Digital Rakhis instantly via an Augmented Reality (AR) filter. Running from August 17 to August 19, 2024, the campaign saw over 3,000 Digital Rakhis sent globally, blending modern technology with traditional celebrations. The campaign bridged distances, making Raksha Bandhan a memorable occasion for families and communities.Read more

22 Aug 2024

Max Estates has received approval from the Noida authority for its 'Delhi One' commercial project in Sector 16B, following the settlement of INR 613 crore in dues. The project, initially stalled due to financial issues, will now proceed after Max Estates agreed to a payment plan under a resolution plan approved by the NCLT in February 2023. The development will add 2.8 million square feet of office and residential space, with significant portions already constructed. This approval marks a crucial step for Max Estates and underscores Noida's commitment to advancing commercial real estate and economic growth.Read more

22 Aug 2024

Ashiana Housing and Arihant Foundations are investing INR 225 crore in a senior living residential project, Swarang, in Nemmeli, Chennai. Spanning 10.87 acres on the East Coast Road, this luxury project is set to generate INR 450 crore in sales. Swarang will offer 1 to 3 BHK units and penthouses, priced between INR 84 lakh and INR 2.08 crore, with the first phase completing by September of 2027. Featuring amenities like sports facilities, gyms, and 24/7 security, Swarang caters to Chennai's growing senior population. This marks Ashiana's ninth senior living project in India and third in Chennai.Read more

22 Aug 2024

India's real estate sector is grappling with about 500,000 stalled homes, impacting nearly one-fifth of under-construction projects, according to PropEquity. Major cities like Mumbai and Greater Noida are most affected, with delays often stretching three to four years. Despite the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, which raised INR 15,530 crore, only 32,000 units have been completed. Legal disputes and financial mismanagement further complicate the situation. The Real Estate Regulation and Development Act (RERA) aims to improve transparency, but challenges persist. Enhancing oversight and streamlining approvals are crucial for revitalizing the sector.Read more

21 Aug 2024

Incuspaze, a leading coworking space provider founded in 2016 by Sanjay Choudhary, has expanded its portfolio by leasing 400,000 square feet in Noida's Alphathum building. This move addresses the increasing demand for flexible workspaces, particularly among multinational corporations (MNCs). With 44 centres across 18 cities, Incuspaze now manages 3.5 million square feet of coworking spaces. Partnering with Bhutani Group, Incuspaze aims to offer innovative office solutions featuring modern amenities and flexible leases. The collaboration reflects the growing preference for adaptable workspaces amid the rise of hybrid work models, positioning Incuspaze to meet the evolving needs of businesses.Read more

21 Aug 2024

Kotak Investment Advisors Ltd. (KIAL) has committed INR 450 crore to revive Supertech's stalled project in Sector 94, Noida, alongside an additional INR 310 crore to repay existing lenders. The 5 million-square-foot development, already 50% complete, includes NCR's tallest residential tower. The project, expected to generate over INR 7,000 crore in revenue, will proceed with Supertech, KIAL, and the Noida Authority managing the escrow account. Supertech's liabilities total INR 8,000 crore, but with project receivables exceeding INR 14,000 crore, the company remains financially viable as it works to deliver over 15,000 homes.Read more