04 Mar 2024

LTI Mindtree is doubling its presence in Chennai's L&T Innovation Campus, adding 600,000 sq. ft to accommodate 10,000 IT professionals. Amidst Chennai's booming office market, characterized by record-breaking leasing activity, the expansion reflects the growing demand from the tech and BFSI sectors. With vacancy rates dropping by 3.7 percentage points year-on-year to 16.3% by the end of 2023, Chennai's office market becomes even more attractive for expansion-seeking businesses. Such expansions not only signal business growth but also contribute to the city's evolving economic landscape amidst rising demand for office space.Read more

01 Mar 2024

Godrej Properties secured a prime 6.45-acre housing plot in Noida with a bid of INR 506 crore, strengthening its presence in the vibrant real estate market. Beating competitors in the e-auction held by the Noida Authority, the Mumbai-based developer aims to craft modern living spaces tailored to evolving lifestyles. This acquisition aligns with Godrej's expansion strategy, signaling confidence in Noida's growth prospects. Meanwhile, the company's foray into Hyderabad and Bengaluru markets underscores its commitment to delivering premium residential projects, further solidifying its position as a key player in India's real estate landscape.Read more

01 Mar 2024

DLF, a major real estate player in India, plans to launch properties worth INR 80,000 crore over 3-4 years, focusing on luxury homes in key cities. With sales doubling annually, reaching INR 13,316 crore in the current fiscal year, the company aims to tap into post-pandemic housing demand. DLF's strategy targets markets like Delhi-NCR, Mumbai, Goa, and Chennai. They're leveraging their strong track record to meet soaring demand for quality projects. With a vast development potential of 215 million square feet, including a significant annuity portfolio, DLF's expansion signals confidence amidst evolving market dynamics.Read more

29 Feb 2024

Raagam Phase 1 by TATA Housing in Bengaluru was a remarkable success, selling out in less than a week after it opened and bringing in over INR 650 crores. Situated on 140 acres, the project, which is a part of the Tata Carnatica township, offers innovative planned developments. Raagam Phase 1, which has a total area of 9 lakh square feet and 576 sold plots, is a testament to Tata Housing's dedication to quality and innovation. The project's quick success is attributed to strategic marketing initiatives, a focus on customer happiness, and a variety of living options. These factors have raised the bar in Bengaluru's real estate market.Read more

29 Feb 2024

The Maharashtra Real Estate Appellate Tribunal (MREAT) directed the new developer of Mumbai's Palais Royale project to maintain status quo on a home buyer's flat, preventing third-party rights until the final appeal hearing against a MahaRERA order. The project, stalled due to legal issues, saw a change in ownership under the SARFAESI Act. MahaRERA initially dismissed the buyer's complaint regarding delayed possession. However, the MREAT granted interim relief, emphasising the validity of the buyer's agreement with the former developer and affirming RERA's applicability. The ruling ensures the buyer's rights amidst the project's tumultuous legal proceedings.Read more

28 Feb 2024

Asset Homes, a leading real estate developer in Kerala, has partnered with Columbia Pacific Communities to introduce luxury senior living projects, branded as 'Young @ Heart', across Kerala. This collaboration combines Asset Homes' local expertise with Columbia Pacific's global experience to set new standards in design, amenities, and services. With India's senior population expected to grow, Asset Homes plans to launch four projects initially in Thiruvananthapuram, Kottayam, Kochi, and Kozhikode, catering to diverse preferences. These projects, slated for Q1 2024-25, aim to provide retirees with a vibrant lifestyle. The partnership reflects a commitment to meet the evolving needs of seniors while promoting positive aging and community living.Read more

28 Feb 2024

State-owned NBCC received approval from the Greater Noida Authority to develop five Amrapali projects worth INR 10,000 crore. These projects include Centurian Park, Golf Homes, Leisure Park, Leisure Valley, and Dream Valley. In December 2023, NBCC announced sales of 5,000 units for INR 2,900 crore across several residential projects of Amrapali. As per Supreme Court direction, ASPIRE was formed to complete stalled projects through NBCC. NBCC is tasked with completing 38,159 units and pending common facilities across 25 housing projects, with an estimated cost of INR 8,266 crore. NBCC aims to complete all projects by March 2025, prioritizing home buyers' ownership dreams.Read more

27 Feb 2024

Raymond Realty, the real estate arm of Raymond Group, ventures into Mumbai's real estate market with 'The Address by GS, Bandra', a luxury residential project spanning 2.74 acres. Formed through joint development agreements (JDAs), it offers 2, 3, and 4 BHK apartments alongside a 16,000 sq ft clubhouse and high-street retail spaces. Strategically located in Bandra East, it ensures connectivity to prime locales like Bandra-Kurla Complex and Bandra-Worli Sea-Link. With a RERA carpet area of 0.7 million sq ft and a revenue projection exceeding INR 2,000 crore, it's poised to redefine luxury living. Raymond Realty's expansion beyond Thane signifies a strategic move towards maximizing Mumbai's real estate potential.Read more

27 Feb 2024

Mahindra Lifespaces Developers Limited (MLDL) launched its second plotted development project for FY-24, 'Green Estates by Mahindra,' at Mahindra World City in Chennai. Spanning 27 acres, the development offers plots ranging from 750 sq. ft. to 2400 sq. ft., emphasizing customized living amidst lush green open spaces. Situated against the scenic Paranur Hills backdrop and adjacent to three lakes, the project integrates seamlessly with nature. With a captivating 1.2-acre central park and nature-inspired amenities, it aims to foster community living.Read more

27 Feb 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) is contemplating the reinstatement of a land parcel to Jaiprakash Associates Ltd (JAL) on the condition that the developer clears INR 200 crore in dues upfront. This is part of a potential rehabilitation package for JAL's 14 stalled residential complexes and aligns with the state government's relief measures introduced in December 2023. The proposed reinstatement involves a 1,000-hectare land allotment originally designated for Jaypee International Sports, a subsidiary of JAL, in 2009-10, under a Special Development Zone (SDZ) scheme.Read more