20 Mar 2024

Godrej Properties secured a three-acre land parcel in Hyderabad's Kokapet, enhancing its total booking value to INR 4,800 crore. The acquisition offers a potential of 1.2 million sq. ft., primarily for premium residential apartments. Positioned strategically near Kokapet's Outer Ring Road junction, the location provides easy access to key areas and amenities. Earlier, the company acquired 12.5 acres in Rajendra Nagar, anticipating revenues of INR 3,500 crore. It recently also secured a Noida land parcel with a projected revenue potential of INR 3,000 crore.Read more

PNT Reporter

19 Mar 2024

Mahindra Lifespace Developers, the real estate development arm of the Mahindra Group, has acquired a 9.4 acre land parcel in Bengaluru's Whitefield area to develop a mid-premium housing project. The project will have a development potential of 1.2 million square feet with an estimated gross development value of Rs. 1,700 crore. Mahindra Lifespaces plans to launch the first phase of the project within the next twelve months. This acquisition is in line with the company's plans to grow its development portfolio and achieve a five-fold increase in pre-sales over the next five years.Read more

PNT Reporter

19 Mar 2024

Shriram Properties introduces Codename Ultimate, a tranquil residential project near Bengaluru's Electronic City, drawing inspiration from Bali, Indonesia. With over 70% dedicated to open spaces, the development blends modern living with Balinese architecture. Close to IT hubs and upcoming metro stations, it offers two and three-bedroom apartments. Featuring a 14,000 sq. ft. clubhouse with 40+ amenities, it fosters community living. Shriram Properties, known for its quality and value appreciation, aims to meet the high demand for housing in Electronic City.Read more

PNT Reporter

18 Mar 2024

Ajmera Realty & Infra India Ltd recently secured credit facilities of INR 500 crore from Standard Chartered Bank and ICICI Bank, earmarked for their Ajmera Manhattan project in Mumbai's Wadala area. A notable portion of INR 200 crore will be used to partially prepay a loan from HDFC Bank. The deal, achieved on favourable terms due to Ajmera Manhattan's strong performance, underscores the company's financial reliability and commitment to a 5x growth vision. With a focus on reducing corporate debt by 90 percent within three years, the company aims to leverage internal accruals for this purpose. Ajmera Manhattan's high booking reflects the robust demand along the Sewri-Wadala belt, boosted by infrastructure developments like the Mumbai Trans-Harbour Link.Read more

PNT Reporter

18 Mar 2024

The Sri Kurumba Educational and Charitable Trust, founded by PNC Menon and Sobha Menon, is making substantial contributions to philanthropy through its Sobha Community Home Project, "Griha Sobha 2024." This initiative aims to provide free housing to 220 women-led underprivileged families in Palakkad district, addressing the widespread issue of inadequate housing in India. The recent inauguration event marked a significant milestone, with the handover of keys for the first set of 100 homes, and the foundation stone laid for an additional 120 homes as part of the commitment to offer a total of 1000 homes to women from resource-limited families.Read more

PNT Reporter

15 Mar 2024

Runwal Group introduces Skydeck residences in Runwal Pinnacle, offering panoramic city views and luxury amenities. With towers among the tallest in Mumbai's eastern suburbs, the project features meticulously designed 1, 2, and 3 BHK apartments. Private decks are available above the 40th floor, redefining high-rise luxury living. Residents enjoy top-notch recreational facilities, including a 2-level clubhouse and a Jain temple. The project's prime location and excellent connectivity make it a desirable address in Mumbai.Read more

14 Mar 2024

Prestige Group, renowned for its upscale developments, unveiled "Prestige Somerville" in Whitefield, Bangalore. With 306 apartments spread across 6.5 acres, this low-density project offers an abundance of green spaces. Positioned near key IT hubs and amenities, it promises convenience and tranquillity. Featuring 3 and 4-bedroom luxury apartments, the project boasts a clubhouse, pool, and lush landscapes. Expected to be completed by March 2026, Prestige Somerville aims to redefine opulent living in Bangalore. With prices estimated at around INR 1.5 Crore for 3-bedroom and INR 2.0 Crore for 4-bedroom units, it's poised to captivate discerning buyers seeking elegance and comfort.Read more

14 Mar 2024

DLF, India's largest real estate developer, is in discussions with Bharti Realty to acquire phases of Aerocity in Delhi, totaling 17 million square feet. The project includes 5 million square feet of retail space and is anticipated to generate INR 5,000 crore in annual rental income. Bharti Realty initially developed the project, and later, Brookfield acquired a majority stake. DLF aims to strengthen its rental portfolio through this acquisition. The development involves creating an SPV, which DLF Cyber City Developers will manage. Bharti Realty has already initiated development expansion, investing over INR 6,595 crore. This expansion aims to enlarge a commercial district with new assets, expanding the existing Worldmark properties.Read more

13 Mar 2024

In the last quarter of 2023, Bengaluru's real estate market witnessed a surge in sales, revealing notable shifts in property preferences and investment trends. Larsen & Toubro (L&T) emerged as the top seller, recording sales worth INR 1,004 crore, followed by Prestige Group and Sobha Group. Affordable segment properties below INR 50 lakh constituted 48% of total transactions, reflecting a clear trend towards budget-friendly housing. Mid-segment homes valued between INR 50 lakh to 1 crore saw a slight uptick, while the luxury segment also experienced growth. North Bengaluru led in sales, propelled by projects like L&T Raintree Boulevard, while South Bengaluru remained a top choice due to its robust infrastructure and connectivity. Central and East Bengaluru also saw significant success, reflecting the city's vibrant real estate landscape and evolving aspirations of its residents.Read more

13 Mar 2024

Signature Global has planned to revolutionise Gurugram's real estate with upcoming projects spanning 8-10 million sq. ft. Strategically located in key sectors like 71, 84, and along Sohna Road, the company emphasizes affordability, pricing mid-income homes at INR 1-1.5 crore and upper mid-income at INR 4-5 crore. Despite a reported loss last fiscal year, they target INR 11,000-12,000 crore worth of projects by 2026, investing INR 1,000-1,200 crore annually for land acquisition. With strong sales performance and a robust pipeline, Signature Global has aimed to reshape Gurugram's real estate landscape, focusing on mid-income and upper mid-income segments.Read more