16 Apr 2024

Sobha Limited, a leading real estate developer, has launched Sobha Crystal Meadows, a collection of 290 English-inspired luxury row homes in Bengaluru. Located on a 26-acre property off Sarjapur Road, the development offers lavish 4-bedroom homes ranging from 4,237-4,815 sq ft with modern amenities. 68% of the area is reserved as open space. Priced over INR 10.5 crore, the homes are aimed at C-suite executives and provide a blend of contemporary design and traditional architectural elements for a serene living experience away from the city bustle.Read more

15 Apr 2024

Mumbai's Keystone Realtors, recognized for its Rustomjee brand, saw a rise in sales bookings, reaching INR 2,266 crore in FY23-24, marking a 41% increase from the previous fiscal year. Moreover, the company sold 1.21 million square feet of space, up 17% from the previous year. Notably, the final quarter of FY23-24 witnessed a remarkable 78% surge in sales bookings, with INR 843 crore in bookings, and a 36% increase in area sold. Analysts credit this growth to the persistent demand for homeownership, favourable interest rates, and the reputation of developers like Rustomjee for quality and reliability. CEO Boman Irani expressed optimism, citing achievements across various metrics.Read more

15 Apr 2024

Tata Realty & Infrastructure Ltd. (TRIL) has achieved a remarkable feat by securing prestigious WELL Core certifications from the International WELL Building Institute (IWBI) for its commercial portfolio. The Ramanujan Intellion Park in Chennai has been awarded the highest Platinum level WELL Core Certification, making it the first in India and among the top 100 globally. TRIL is a global leader in WELL at scale, applying health-focused strategies across its entire portfolio. Intellion Parks in Mumbai and Gurugram have secured WELL Gold Precertification and WELL Health-Safety Rating. TRIL's commitment to occupant well-being through superior air quality, water quality, mold prevention, health promotion, movement encouragement, and optimized acoustics is exemplary.Read more

12 Apr 2024

Signature Global reported a rise in sales bookings, reaching INR 4,140 crore in Q4 FY24, driven by strong demand for luxury projects in Gurugram. Full-year sales doubled to INR 7,270 crore. Notably, the company surpassed its FY24 guidance of INR 4,500 crore. Pre-sales and collections grew 112% and 62% respectively, with record quarterly and annual performances. Sales realisation rose by 49% to INR 11,762 per sq. ft. Despite a marginal increase, net debt stood at INR 11.6 billion. Pradeep Kumar Aggarwal, Chairman, attributed the success to execution capabilities and customer trust, anticipating strong growth in FY25.Read more

11 Apr 2024

Godrej Properties Limited (GPL) achieved a milestone in Mumbai with Godrej Reserve, Kandivali, selling INR 2,690 crore worth of inventory within 15 months of acquisition. This success highlighted the demand for premium residential properties in well-connected areas like Kandivali. The project benefits from Kandivali's developed infrastructure and excellent connectivity via the Western Express Highway and metro lines. With a potential revenue of INR 7,000 crore, Godrej Reserve strengthens GPL's foothold in Mumbai's suburbs. Additionally, GPL entered Hyderabad's market in February with a 12.5-acre acquisition in Rajendra Nagar, highlighting its commitment to providing quality living spaces across India.Read more

11 Apr 2024

Bengaluru's Brigade Group partners with United Oxygen Company Private Limited to develop a 3 lakh sq ft Grade A office space on ITPL Road, Whitefield, with a projected value of INR 340 crore. Joint Managing Director Nirupa Shankar highlights the prime location and sustainable design, anticipating it will meet the demand for top-tier work facilities. The group plans to focus on commercial development in Bengaluru, Hyderabad, and Chennai, while expanding into smaller cities like Thiruvananthapuram and Cochin. Additionally, they aim to double their retail portfolio, adding a destination mall in Hyderabad and two smaller malls in Bengaluru's under-development townships.Read more

10 Apr 2024

In FY24, Macrotech Developers surpassed expectations by revealing new projects across Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, with a combined Gross Development Value (GDV) reaching INR 203 billion. This figure notably surpassed their initial guidance of INR 175 billion. The company attributed its success to operating cash flow generation and a recent raise in equity.The company's strategic expansion underscores its commitment to real estate development in key metropolitan areas, indicating strong growth prospects and market confidence in its offerings.Read more

09 Apr 2024

Homebuyers affected by stalled projects by Aliens Developers in Hyderabad received a lifeline as SWAMIH and Nisus Finance invested over INR 465 crore. Aliens HUB, a plotted development in Chennaram, received INR 145 crore from Nisus Finance, while SWAMIH invested INR 320 crore in Aliens Space Station, a mid-income housing project in Tellapur. These funds will cover existing loans, project expenses, and facilitate completion, benefiting over 2,000 homebuyers. SWAMIH, launched by the government to address stalled projects, has now provided substantial funding to revive projects and protect homebuyers' interests, offering hope for resolution in Hyderabad's real estate sector.Read more

09 Apr 2024

Prestige Group has acquired 21 acres of land in Bengaluru for INR 450 crore. The company intends to utilise the land for residential development, with plans spanning approximately four million square feet of developable area. This ambitious project is expected to yield around 1,800 apartments, catering to the growing demand for housing in the city. Venkat K Narayana, Group CEO, expressed plans to launch the project within three quarters and complete development in four years.The acquisition reflects Prestige Group's strategic expansion efforts and commitment to meeting the housing needs of Bengaluru's populace.Read more

09 Apr 2024

ANAROCK, a prominent property services group, expands its offerings with dedicated commercial office leasing services, complementing its ANAROCK Commercial division. Led by industry veterans, the move aligns with the group's growth strategy, targeting international collaborations and top talent acquisition. Chairman Anuj Puri emphasises strategic timing for the launch, tapping into India's resilient office leasing market poised to exceed 50 million square feet by 2024-end, driven by Global Capability Centers' (GCC) expansion. This surge, led by sectors like technology and BFSI, anticipates a demand surge of 80-100 million square feet.Read more