11 Jul 2024

Leading real estate developer Concorde Group has acquired a 1.6-acre land parcel on Sarjapur Road in Bengaluru for a new residential project estimated at INR 200 crores. Facilitated by Colliers India, the project will feature a high-rise building with 2 and 3 BHK apartments, integrating home automation for enhanced security and energy efficiency. A signature Evolve clubhouse will provide top-notch amenities. The prime location offers access to key IT clusters and improved connectivity with the upcoming Peripheral Road and Namma Metro expansion. This acquisition underscores Concorde's commitment to innovative, high-quality living spaces, reinforcing its position as a top real estate developer.Read more

11 Jul 2024

Godrej Properties has reached a milestone with its Godrej Woodscapes project in Whitefield-Budigere Cross, Bengaluru, selling over 2,000 homes and generating sales exceeding INR 3,150 crore (approximately USD 39 million). This project marks their most successful launch in Bengaluru and the highest sales volume and value ever for the company. This achievement, coupled with another recent launch exceeding INR 3,000 crore in sales, highlights the strong demand for residential properties in Bengaluru. With a robust pipeline of new projects in Bengaluru and plans to enter the Hyderabad market, Godrej Properties is set for continued growth in South India.Read more

10 Jul 2024

Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, with a saleable area of 7.5 lakh sq ft and a potential gross development value (GDV) of over INR 900 crore. Additionally, it announced a 12.75-acre land acquisition in Thane and Mumbai, with a GDV of INR 5,500 crore. Its subsidiary, Provident Housing, bought landowner shares in Provident Botanico and Provident Capella for INR 165 crore and INR 86 crore, respectively, adding a GDV of INR 1,550 crore. The group plans to launch 14 million sq ft in FY25, focusing on development and land replenishment.Read more

10 Jul 2024

Ganga Realty will invest INR 1,200 crore in the Anantam residential project in Sector 85, Gurugram. The project spans 5.29 acres and will feature three G+59 storey towers with 524 units of 3 and 4 BHK apartments, priced from INR 16,500 per sq ft. Funded through internal accruals and customer advances, the project aims for a INR 2,000 crore sales target. Located near the Dwarka Expressway and IGI Airport, Anantam will include luxury amenities, smart home features, and sustainable technologies. Completion is expected in five years, offering "tallest luxury towers" in Gurugram and in Delhi.Read more

09 Jul 2024

The Lucknow Development Authority (LDA) is set to start land acquisition for four new housing schemes: Wellness City, IT City, Educational City, and Prabandhnagar. Approved by LDA chairperson Roshan Jacob, these projects span various locations and include significant infrastructure developments. Wellness City on Sultanpur Road will feature medical facilities, while IT City will host a hi-tech park and industrial zones. Educational City on Mohan Road will have a grid layout with extensive residential and commercial plots. Prabandhnagar Scheme on IIM Road will encompass residential, commercial, and industrial areas. A tender worth INR 225 crore has been issued for infrastructure development.Read more

05 Jul 2024

Ashiana Housing Limited has launched the third phase of its Ashiana Ekansh project in Jaipur, Rajasthan, adding 112 new units, with 92 sold on the first day. Located in Mansarovar Extension, Ashiana Ekansh offers 560 units in 2, 3, and 4 BHK configurations, with prices starting at INR 67 lakhs. The phase is expected to be completed by December 2028. Ashiana Housing, with 11 ongoing projects in seven cities, reported a 160.59% year-on-year increase in net sales and a 67.44% rise in net profit for March 2024. The company continues to meet the growing demand for residential properties in India.Read more

05 Jul 2024

Bengaluru-based Sattva Group announces a bold investment of INR 12,000 crore to INR 14,000 crore (USD 1.5 billion to USD 1.75 billion) over the next 2-3 years, driven by robust growth in India's real estate sector. The strategy marks a shift towards residential development following a surge in sales, aiming to double residential revenues to INR 6,000-6,500 crore (USD 750-812.5 million) by FY25. Expanding into Chennai and Mumbai, Sattva Group plans 23 million sq. ft under construction and eyes a significant commercial office market recovery with projects housing Google, Novartis, and JP Morgan. Financing includes equity, debt, and partnerships with firms like Blackstone Inc., underscoring their confidence in India's property market resilience.Read more

04 Jul 2024

Bengaluru-based real estate developer Concorde has acquired a 1.6-acre plot on Sarjapur Road, valued at INR 32 crore, to develop a high-rise apartment tower with a GDV of INR 200 crore. The project will offer 2 and 3 BHK apartments over 225,000 sq ft, aligning with Concorde's mid-market focus. This follows their March 2024 acquisition of a 4.5-acre parcel in Thanisandra for a INR 400 crore development. Bengaluru's strong IT sector and growing population drive demand for mid-market housing, particularly in areas like Sarjapur Road. Construction is slated to start in July 2024, with further project details expected soon.Read more

04 Jul 2024

Smartworks, a managed office space provider, has raised INR 168 crore (USD 20.24 million) in a funding round led by Keppel Ltd. and Ananta Capital Ventures Fund 1. The founders retain majority ownership. With 41 centres across 13 cities, including recent additions in Gurgaon, Noida, and Chennai, Smartworks serves large enterprises with flexible office solutions. This funding highlights investor confidence in the managed office space sector, which is seeing rapid growth. Competitors like WeWork India, Simpliwork, and Incuspaze have also secured significant investments, driven by the demand for flexible, scalable workspaces amid a rising start-up cultureRead more

03 Jul 2024

Mumbai's real estate market is set for a transformation as Paradigm Realty embarks on a monumental INR 4,500 crore redevelopment project across 11 housing societies in Bandra and Kandivali. This ambitious initiative promises modern luxury living with amenities like landscaped gardens and enhanced security, a significant upgrade from ageing structures. Beyond individual benefits, the project highlights Mumbai's focus on urban renewal amid land scarcity. It will add over 2.8 million square feet of living space, easing pressure on the city's housing market. The deal, boosted by Maharashtra's stamp duty waiver for society members, marks a pivotal step towards a more modern and sustainable cityscape.Read more