12 Oct 2023

The Bombay High Court has lifted the Enforcement Directorate's (ED) attachment on two flats in the dilapidated Opera House building, Hari Niwas, paving the way for its redevelopment. The building owners, Kirti Hansraj Kothari and family, offered fixed deposit receipts to replace the attachment, citing the urgent need for redevelopment. The ED's money laundering case was linked to a CBI case against M/s ABC Cotspin Private Limited. The court accepted the offer, allowing the property owners to furnish fixed deposit receipts, and upon compliance, the attachment will be lifted, facilitating the redevelopment of the 5-storey structure.Read more

12 Oct 2023

Residents of Tower H in the Chintels Paradiso housing complex in Gurugram have been instructed to evacuate their flats by the District Disaster Management Authority (DDMA). The Deputy Commissioner and Chairman of DDMA, Nishant Kumar Yadav, issued the evacuation orders, citing the IIT Delhi structural audit report from July that deemed the tower unsafe for habitation. The notice demands residents to vacate within 15 days failing which legal action under relevant sections of the IPC and Disaster Management Act could be taken up. A total of 5 towers in the complex have been flagged as unsafe by IIT Delhi.Read more

12 Oct 2023

The Lucknow Development Authority (LDA) plans to construct a seven-storey apartment exclusively for senior citizens in Gomtinagar's Viraj Khand. The decision involves cancelling the allotment of 9,000 square meters of land designated for railways. The Studio flats will be designed with a focus on the needs of senior citizens featuring spacious balconies, cross ventilation, and amenities like meditation centres and a gymnasium. The flats will be allotted on lease to individuals above 60 years who are living independently. The initiative aims to provide a comfortable and nature-connected living environment, addressing the well-being and minimalistic lifestyle preferences of senior citizens.Read more

11 Oct 2023

Residents of the Melavasal Housing Board complex in Madurai have staged a protest, expressing their dissatisfaction with the maintenance of the housing complex by the Madurai Corporation. The complex, home to around 4,500 residents, has been facing issues like a leaky underground drainage system, foul odours, and accumulating garbage. The residents handed over the maintenance responsibility to the Madurai Corporation in 2016-17. However, they complain of poor sanitation and inadequate cleaning efforts. Tensions are rising, and the Viduthalai Chiruthaigal Katchi (VCK) party has threatened road picketing if the issues are not resolved, highlighting the urgency of addressing residents' concerns.Read more

11 Oct 2023

Prestige Group, a prominent realty firm, has experienced a substantial surge in its sales bookings during the second quarter of the fiscal year 2024. Their sales reached a remarkable INR 7,092 crore, marking an impressive 102% increase compared to the previous year. This surge is attributed to strong demand for residential properties. In addition, the company achieved an average realization of INR 10,369 per square foot for apartments/villas, further enhancing their performance. Overall, Prestige Group has achieved remarkable sales figures, closely approaching its total sales for the entire fiscal year 2023 in just the first half of FY24.Read more

11 Oct 2023

Hero Realty Pvt. Ltd. (HRPL), a prominent Indian real estate developer, has achieved an extraordinary feat in the realty market by securing two single-day sell-outs within a single quarter. The first occurred with the launch of Hero Earth, a plotted development project, and the second with Hero Homes Gurugram Tower-8. Both projects have collectively contributed INR 350 crore to HRPL's revenue. This accomplishment underscores the robust demand for high-quality real estate in India and Hero Realty's ability to deliver projects aligned with the preferences of modern homebuyers and investors, setting new industry standards.Read more

10 Oct 2023

Bombay Dyeing is set to make significant strides in the real estate sector following the sale of its Worli land parcel for a whopping Rs 5,200 crore. The company is eyeing diversification into warehousing and holiday homes, with plans to embark on marquee projects in collaboration with landowners and group companies. This strategic shift underscores Bombay Dyeing's ambition to establish itself as a prominent player in the listed real estate arena, leveraging its recent landmark sale and the potential of emerging market opportunities.Read more

10 Oct 2023

TVS Emerald, a subsidiary of TVS Holdings Ltd, has unveiled 'The Estate,' its maiden plotted development project in Bagalur, near Bangalore. This 33-acre project is the group's first venture into plotted development near Bangalore and has already witnessed remarkable success, with 442 out of 461 plots sold on the launch day. 'The Estate' offers a unique feature with every plot adorned with fruit-bearing orchard trees. It comprises three phases, each offering modern amenities. Additionally, a 15,000 sq.ft clubhouse is planned. TVS Emerald plans to expand its presence in Bangalore with upcoming projects.Read more

10 Oct 2023

TRIOS, a co-working company, has expanded its presence in Pune, Maharashtra, by launching three new spaces in prime locations, totalling 82,000 square feet. The company secured agreements for these properties with prominent real estate entities, aiming to provide collaborative coworking spaces to established companies and professionals. TRIOS plans to enhance the coworking experience with new amenities like collaborative lounges, breakout spaces, gaming zones, and more. They also focus on sustainability by establishing these centres as zero-plastic zones. The expansion in Pune is part of TRIOS' broader strategy to meet the growing demand for co-working spaces in various Indian cities.Read more

10 Oct 2023

Lodha Group, India's leading real estate developer, achieved its best-ever quarterly pre-sales at INR 3,534 crores, reflecting strong demand for branded homes. Despite it being a traditionally weak quarter and no new locations launched, collections also grew by 16% year-on-year to INR 2,752 crores. The company aims to reach its full-year pre-sales target of INR 14,500 crores with upcoming launches. Furthermore, the company's commitment to sustainability earned it top scores in the Global Real Estate Sustainability Benchmark (GRESB).Read more