07 Oct 2023

Larsen & Toubro (L&T) is experiencing significant growth in its order book, reaching around Rs 4.12 trillion as of June, with West Asia contributing 25% of this total. This surge in orders is largely attributed to a construction boom in Saudi Arabia. L&T's hydrocarbon division has also conducted a major recruitment drive in India, highlighting the strategic importance of the West Asian market for the company. L&T's proactive approach includes localizing offices, staff, and forming strategic partnerships in the region. This expansion and strengthened foothold in West Asia showcase L&T's commitment to serving the dynamic construction market in the region.Read more

07 Oct 2023

Noida-based Nivas Promoters has amicably settled disputes with allottees of its residential project, One Leaf Troy, following orders from Uttar Pradesh RERA (UP-RERA). In collaboration with Renowned Buildtech, a mutual settlement resulted in the payment of Rs. 62.11 lakh to all allottees, facilitating the withdrawal of their complaints. This resolution comes after the construction and development work of One Leaf Troy, situated in Greater Noida West's Sector 10, faced prolonged delays. UP-RERA had previously issued orders to ensure unit possession within a specified timeframe or the return of deposited amounts with interest for the delay period.Read more

07 Oct 2023

Raheja Developers, a prominent real estate firm, plans to invest INR 2,000 crore in its various projects over the financial years 2024, 2025, and 2026. This substantial commitment aims to expedite construction processes and ensure the timely delivery of residential and commercial properties. Raheja Developers has a well-established track record of delivering around 30 million square feet of real estate across various segments. Currently, they have 20 million square feet in progress, with the majority of projects scheduled for possession between fiscal years 2024 and 2026. This investment reflects the company's commitment to delivering innovative spaces and fulfilling its legacy in the industry.Read more

07 Oct 2023

Ashiana Housing is set to redefine the real estate landscape in western India with an ambitious growth plan. This expansion includes residential and senior living projects such as Ashiana Malhar and Ashiana Amogh, located in Pune. Covering a total area of 23.26 acres, these projects represent a significant investment of approximately Rs 550 crore. Ashiana Housing's focus on delivering exceptional projects with a commitment to quality and innovation is driving its rapid expansion in the western region. With a presence in nine Indian cities and a track record of delivering millions of square feet, the company is gaining trust and recognition.Read more

06 Oct 2023

In a significant development, the Supreme Court has granted bail to Basant Bansal and Pankaj Bansal, directors of the Gurugram-based real estate conglomerate M3M. This decision comes in the midst of an ongoing money laundering investigation involving the Bansal brothers. The case originated from allegations of bribery and money laundering, which led to their arrest by the Enforcement Directorate (ED). The bail plea was initially rejected by the Punjab and Haryana High Court, but the Supreme Court's decision to grant bail adds another layer of complexity to the legal proceedings. The case is expected to continue drawing attention due to its implications for the real estate and judiciary sectors.Read more

06 Oct 2023

Ajmera Realty & Infra India Ltd (ARIIL) has bolstered its real estate portfolio by securing two residential projects in Mumbai and Bengaluru. The combined Gross Development Value (GDV) for these projects is estimated at INR 470 crores. In Mumbai, the project on LBS Marg in Bhandup spans 6.8 acres, targeting the sub-1 crore segment, while in Bengaluru's Electronic City Phase 2, the project aims to contribute INR 150 crores to the top line. These developments align with ARIIL's growth strategy, reinforcing its presence in key markets and catering to the evolving needs of homebuyers.Read more

06 Oct 2023

The Department of Town and Country Planning imposed a ban on the registry and conveyance of Ansal properties due to the builder's failure to renew its license for the Sushant Lok 2 residential colony. The ban created hardships for property owners who couldn't buy or sell their properties or obtain conveyance deeds. However, after proactive efforts by the Gurugram Resident Forum and discussions with town planning authorities, the ban was partially lifted. Conveyance deeds were allowed for properties held by allottees, bringing relief to investors and allowing property transactions to proceed without unnecessary obstacles. This decision benefited those who had invested in Ansal properties.Read more

06 Oct 2023

The latest deadline for the Dhauli Heights housing project in Bhubaneswar, India, was extended to March 2024 due to several delays. Homebuyers are unhappy by these continued delays because they had originally anticipated having their flats by 2016. The project's partners, Odisha Cooperative Housing Corporation Limited (OCHC) and Odisha Police Housing and Welfare Corporation Limited (OPHWC), have an unpaid balance of Rs 3.12 crore, which is the cause of the delays. To settle this amount, OCHC has asked for an additional six months. The Indian real estate sector needs better project management and accountability as a result of these ongoing delays.Read more

05 Oct 2023

Arvind Smartspaces Limited (ASL) has successfully pre-launched Arvind Uplands 2.0, a golf-themed plotted development in Adroda, South Ahmedabad. The first phase, covering around 4 million sq. ft. with a booking value exceeding Rs. 300 Crore, sold out in just three days. As part of a joint development project spread over approximately 100 acres, the initiative offers world-class infrastructure. Buyers of Arvind Uplands 2.0 will receive membership to Monogram Resort, providing access to amenities like a golf course. South Ahmedabad, with robust connectivity and proximity to industrial hubs, is emerging as a promising micro-market for plotted development and weekend homes.Read more

05 Oct 2023

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has greenlit Elegant Infracon, the Elegant Ville project's promoter, to resume and complete construction in Gautam Buddha Nagar. In collaboration with Floral Realtech, this move aims to rehabilitate the project and secure an Occupancy Certificate (OC) within a year. Delays had left allottees uncertain, prompting UP-RERA to invoke section 8 of the RERA Act, allowing construction to proceed with the majority of allottees' consent. The project, with 761 units, has already sold 686, and financial projections estimate a revenue of Rs. 120.01 crore upon completion.Read more