06 May 2024

Prestige Group, India's leading real estate developer, has launched their prestigious luxury project Prestige Ocean Towers in Marine Lines, South Mumbai. Comprising just 169 spacious homes spread across two towers within a 2-acre plot, the development offers spectacular views of the Queen's Necklace and Arabian Sea. Designed by renowned architects Norman Foster and Hafeez Contractor, Prestige Ocean Towers will have a built-up area of 4.62 lakh square feet and estimated revenues of INR 4,100 crores. The group has already pre-launched 75 residences worth INR 1,700 crores and sold over 70% of these units, reflecting strong customer demand for the group's high-quality offerings.Read more

03 May 2024

Dextrus, a key player in Mumbai's coworking sector, has strengthened its footprint in the bustling Bandra Kurla Complex (BKC) by unveiling its third center. This expansion boosts Dextrus' workspace capacity in Mumbai to over 1,000 seats across BKC and Lower Parel. Situated in One BKC, the new workspace spans 12,000 square feet, accommodating around 300 dedicated workspaces. Dextrus pioneers the "Build by Dextrus" initiative, allowing businesses to customize their office space seamlessly. The center offers a dynamic ecosystem with amenities like well-equipped meeting rooms, breakout areas, a cafe, and private phone booths, fostering collaboration and productivity. Robin Chhabra, Dextrus' Founder & CEO, underscores the company's commitment to tailored workspace solutions.Read more

03 May 2024

Casagrand introduces its latest project, Casagrand French Town, a French-themed residential community sprawled over 10.76 acres in Chennai. With over 8.4 acres dedicated to lush greenery, the project embraces nature amidst urban living. Strategically located near Medavakkam and Velachery, it offers easy access to essential amenities and major IT hubs. The development includes 2 & 3 BHK apartments and 4 BHK villas, addressing the demand for spacious living areas. Boasting 95+ amenities, including a 23,000 sq. ft. clubhouse, the community fosters a vibrant social environment. With a focus on resident well-being, features like a reflexology pathway and meditation lawn promote relaxation. Casagrand French Town redefines luxury living, blending French charm with modern amenities, making it an appealing choice for Chennai's homebuyers.Read more

03 May 2024

The National Company Law Tribunal (NCLT) approved Macrotech Developers' acquisition of V Hotels, owner of the Centaur Hotel (now Tulip Star), for INR 890 crore. The hotel's prime location in Mumbai's Juhu area attracted interest from real estate giants. Macrotech emerged as the successful bidder, offering an upfront payment of INR 278 crore to secure financial creditors, with two additional tranches of INR 405 crore each. The non-operational hotel, situated on a 6.1-acre land parcel, presents redevelopment opportunities for residential, commercial, or mixed-use projects. This acquisition revives a historic landmark and showcases Mumbai's evolving real estate landscape.Read more

03 May 2024

Co-living operator Settl saw strong financial growth in 2023-24 by doubling its bed capacity to 4,000 beds across four cities and increasing revenue by 100% to INR 33 crore. This growth reflects the rising popularity of co-living spaces among young professionals in urban India. Founded in 2020, Settl partners with builders to design properties tailored to occupants needs. Around 80-90% of occupants are working professionals aged 25-35, who are attracted by amenities and community lifestyle. With the economy growing and more companies establishing operations in major tech hubs, demand for convenient, affordable co-living spaces is likely to remain robust.Read more

02 May 2024

Fractional ownership platform hBits has acquired the 44,328 square foot campus in CyberCity Magarpatta, Pune. The agreement duration for Tenant 1 is 60 months and Tenant 2 is 108 months with a lock-in period of 36 months for both. Located in the prestigious Magarpatta City township, the campus will provide a INR 55 crore investment opportunity for investors and increase hBits' assets under management to INR 365 crores. The acquisition price and rental income of the asset offers a gross entry yield of 9% and expected internal rate of return of 15.15%. This expansion underscores Pune's attractiveness as a commercial real estate market.Read more

02 May 2024

Zeassetz, India's largest co-living rental investing platform, has partnered with real estate developer Bramhacorp to introduce a new co-living standard called "Isle of Life" in Hinjewadi Phase II, Pune. The project consists of 484 fully furnished studio apartments across two sizes priced from INR 22.9 lakhs. Each unit is designed to offer premium amenities and managed living. This expands Zeassetz's buy-to-rent portfolio and provides investors with a straightforward way to earn rental income through tenant management. Emphasizing affordability, convenience and easy rentals, the project is suitable for modern investors seeking high returns.Read more

02 May 2024

Chennai emerges as a top destination for offshore multinational companies (MNCs) establishing Global Capability Centers (GCCs), surpassing traditional leaders Bengaluru and Hyderabad. Lower commercial rental rates, ample Grade A office space, and robust city infrastructure make Chennai an attractive choice. Its strong manufacturing sector, particularly in electronics and automobiles, complements offshore businesses. Bengaluru faces challenges with a global IT slowdown and layoffs, impacting office space leasing. Chennai's GCC market expands beyond IT sectors, attracting diverse industries like banking and R&D. This trend reflects a broader regional shift, with India and other Asian countries emerging as key hubs for cost-effective offshoring solutions.Read more

02 May 2024

Macrotech Developers, renowned for its Lodha brand, reported a Q4 FY24 net profit decline of 10.61% to INR 667 crore, yet full-year FY24 profit tripled to INR 1,554 crore compared to FY23. They've raised pre-sales guidance by 20% to INR 17,500 crore for FY25, banking on strong demand, especially in the middle-income segment. With record pre-sales of INR 14,520 crore in FY24, they solidify their position among India's top real estate developers. Financially, they reduced net debt by over INR 4,000 crore in FY24, reaching a manageable INR 3,010 crore, and improved their net worth. Total income rose, with Q4 FY24 seeing a significant increase to INR 4,083.9 crore. Lodha plans to launch seven new projects in Mumbai and Pune, totaling 3.4 million square feet, and expand into Bengaluru after successful ventures.Read more

01 May 2024

Gurugram based Experion Developers is set to invest approximately INR 1,500 crores in developing a luxury housing project named 'Experion Elements' in Noida. The project, registered with the Real Estate Regulatory Authority (RERA), will feature around 320 housing units on a 4.7-acre site, with the first phase offering about 160 units for sale. The project, boasting a total developable area exceeding 10 lakh sq ft, will offer modern amenities including electric vehicle charging infrastructure, a clubhouse, fitness centre, swimming pool, and landscaped gardens. The investment will be covered through internal accruals and advance collections from customers.Read more