04 Jun 2024

Delhi-NCR-based M3M Group has launched its uber-luxury housing project, M3M Altitude, on Golf Course Road Extension in Gurugram, targeting a revenue of INR 4,000 crore. Situated near Trump Towers within the 60-acre M3M Golf Estate, the project spans 4 acres and includes 350 super-luxury residences priced between INR 10 crore and INR 30 crore. The total saleable area is 1 million sq ft, with development costs at INR 1,200 crore. Completion is expected by 2031. Residences will feature 4 BHK units with servant rooms and penthouses ranging from 3,780 to 8,000 sqft. Golf Course Extension Road is noted for its significant price appreciation and luxury market demand.Read more

04 Jun 2024

K Raheja Corp Homes recently launched Raheja Amaltis, a luxurious residential project in Sion, Mumbai, near the Chembur-BKC connector. It features spacious 3 to 4-bedroom homes with decks, offering views of the BKC skyline and Maharashtra Nature Park scheduled for completion by 2027. Amenities include a rooftop infinity pool, fitness center, sky bar, and more. Designed for corporate leaders and elite professionals, Raheja Amaltis emphasizes sustainability with advanced water treatment and energy-efficient fixtures. Its strategic location ensures excellent connectivity to major business hubs in the city.Read more

03 Jun 2024

Bengaluru-based real estate developer Puravankara Ltd has reported a 33% yearly decline in net profit to INR 42 crore for the quarter ended March 2023, although revenue jumped 112% to INR 947 crore. Sales value rose 93% to INR 1,947 crore with collection of INR 1,094 crore. Sales volume increased 84% to 7.36 million sq ft with collection of INR 3,609 crore. However, EBITDA was INR 139 crore and the company posted a net loss of INR 7 crore due to rising costs. For the full fiscal year 2024, asset sales value reached INR 5,914 crore across 7.36 million square feet with revenue growth of 61% and operating cash flows up 41%.Read more

03 Jun 2024

Godrej Properties Ltd., a leading real estate developer in India, recently announced the sale of over 650 homes worth INR 2,000 crore from its project Godrej Jardinia in Noida's Sector 146. Launched in May 2024, Godrej Jardinia witnessed the highest ever sales value achieved for a GPL project in Noida. It marked the company's fourth project in the National Capital Region to cross INR 2,000 crore in sales over the past four quarters. Sector 146 is an upcoming residential corridor providing access to infrastructure like the Noida SEZ and connectivity to Jewar Airport, metro stations and highways.Read more

31 May 2024

Navanaami Projects Private Ltd., a Hyderabad-based real estate developer, has unveiled its flagship luxury residential project, The Megaleio, at a gala event. With an investment of INR 900 crore (USD 108 million), The Megaleio targets high-net-worth individuals (HNIs) and ultra-HNIs. Featuring units priced between INR 8 crore and INR 12 crore, 20% of the units are already sold, reflecting strong demand. Located in Appa Junction Peerancheru, the project boasts two 50-floor towers with 150 opulent residences. The development emphasizes luxury and sustainability, offering unique amenities like branded kitchens, home automation, and EV charging facilities.Read more

31 May 2024

Residents of the Santacruz West Khotwadi slum in Mumbai have complained about not receiving rent for their homes and shops over the past six years as part of an ongoing redevelopment project led by Transcon Developers. Despite attempts to communicate their issues, the residents allege their pleas have been ignored and they have faced intimidation. They are now appealing to the government for urgent intervention to address the matter and protect their rights. Transcon Developers shared details of rent payments made and communications with authorities, stating all dues have been cleared and that the construction of new rehab buildings is also nearing completion.Read more

30 May 2024

Assetz Property Group, has launched Sora & Saki, an uber-luxury residential project at KIADB Hardware & IT Park in collaboration with Fairlark. This project features 990 spacious 3 and 4 BHK units with Large Living Balconies and over 25 world-class amenities, including a 25,000 sq ft clubhouse. Spread over 11.28 acres with 74% open space and a 50,000 sq ft retail area, Sora & Saki aims to redefine luxury living in North Bengaluru, offering modern design, convenience, and connectivity. Completion is expected by September 2028.Read more

30 May 2024

Sobha Group, a South Indian developer, is set to transform Mumbai's high-end housing segment. The company plans to quadruple its annual sales bookings in India to INR 30,000 crore (USD 3.7 billion) within 4-5 years, highlighting their confidence in the luxury market. Sobha's entry into Mumbai focuses on premium amenities, innovative design, and sustainability. They are exploring land purchases, joint ventures, and redevelopments to navigate Mumbai's dense landscape. Supported by a 28% increase in sales bookings and a robust financial strategy, Sobha's move promises to reshape Mumbai's luxury housing market, offering more options and fostering competition.Read more

30 May 2024

Brigade Group, a prominent South Indian property developer, has announced a new residential project in Bengaluru. This venture, positioned on a 6.9-acre site along Old Madras Road, highlights Brigade's strategic expansion in the city's thriving real estate market. The project will be developed through a Joint Development Agreement (JDA) and boasts a development potential of 800,000 square feet with an estimated gross development value (GDV) of INR 720 crore. This move highlights Brigade's confidence in Bengaluru's growth, driven by its IT sector and booming economy. The company continues to expand with additional projects across South India.Read more

29 May 2024

Phoenix Mills Limited's financial performance for Q4 FY24 impresses, with net consolidated profit after tax (PAT) surging by 32.61% YoY to INR 388.79 crore, up from INR 293.19 crore in Q4 FY23. The company's net consolidated total income witnessed a remarkable 77.96% growth to INR 1,343.14 crore, driven by a substantial 79.13% increase in income from operations to INR 1,305.94 crore. Despite a slight dip in EBITDA margin to 48%, operating EBITDA jumps by 46% to INR 627 crore. The board recommends a final dividend of INR 5 per equity share, reflecting Phoenix Mills' strong fundamentals and strategic positioning in the real estate sector.Read more