01 Sep 2023

The NCLT's Kolkata bench has made a significant decision in real estate, granting authority to flat buyers to revive an abandoned project by three developers near Baruipur. These buyers, left with financial losses from unfulfilled promises, filed a petition with the NCLT. The case involved substantial amounts, exacerbated by Supreme Court's 8% interest rate directive. After a meticulous process involving expression of interest, three resolution plans, and evaluations, the proposal from Baruipur Bloomfield Project was approved. This plan involves gathering outstanding payments from plot buyers, leveraging surplus land assets, and prudent fund utilization for project completion.Read more

01 Sep 2023

Hawelia Group, a Delhi-NCR-based real estate developer, is seeking approval from the Uttar Pradesh government to act as a co-developer for the completion of the stalled Shri Radha Sky Garden housing project in Greater Noida. The project, launched in 2011, has faced delays, prompting Hawelia Group to invest approximately Rs 750 crore to finalize it. The group has partnered with the current promoter, SJP Infracon, and plans to complete the 22-acre project with around 2,800 apartments, 800 of which are already sold. This move aligns with the proposed co-developer policy by the UP state government and Noida authorities, aiming to expedite stalled projects and restore confidence among homebuyers.Read more

31 Aug 2023

Lenders of Mumbai's Rajesh Lifespaces are utilizing corporate and personal guarantees by promoters to recover dues while awaiting NCLT approval for the company's hotel business sale. Promoters and entities linked to Rajesh Lifespaces offered guarantees for insolvent hospitality division loans. Led by ICICI Bank, banks are using these guarantees for better recovery as they await NCLT's nod. NCLT delay adds challenges to the promising recovery. The outcome not only impacts recovery rates but also Mumbai's hospitality and real estate sectors.Read more

31 Aug 2023

Realty giant DLF Ltd plans to introduce two luxury housing ventures worth Rs 15,000 crore in Gurugram during this fiscal year, capitalizing on robust demand for upscale residences. Following the successful Rs 8,000 crore sales within days of 'The Arbour' project launch, DLF aims for Rs 13,000 crore bookings this year. Their 2022-23 sales surged to Rs 15,058 crore, driven by ambitious launches totalling Rs 20,000 crore. The upcoming projects in Gurugram, on Southern Peripheral Road and Golf Course Road, are expected to yield approximately Rs 15,000 crore in sales. Additional residential towers are slated for Moti Nagar, Chandigarh, and Mumbai.Read more

30 Aug 2023

Around 1,100 homebuyers involved in the Amrapali Group's housing projects are facing a "final" ultimatum from the Supreme Court receiver overseeing the projects. Those who haven't validated their flat allotment documents or taken possession of their units despite examination have been targeted. The National Buildings Construction Corporation (NBCC) is working to complete stalled projects due to the incarceration of Amrapali Group's promoters. Homebuyers must submit supporting documents to receive No Objection Certificates (NOCs) for ownership. Deadlines have been set for document submission and possession, with penalties for non-compliance. Failure to comply may lead to flat allotment cancellations and unsold inventory status.Read more

30 Aug 2023

Renowned Ahmedabad-based real estate developer, Saanvi Nirman, has launched a creative brand campaign named "Yeh Ghar Ki Baat Hai." Rooted in customer-centricity, ethics, and trust, the campaign emphasizes the company's commitment to elevating lifestyles. The phrase "Yeh Ghar Ki Baat Hai," representing familial bonds, encapsulates Saanvi Nirman's connection with customers through residential projects and reliable home-buying experiences. The monologue, narrated by actor Sharad Kelkar, highlights the emotional value of a home. The multichannel campaign spans YouTube, radio, digital platforms, and influencer collaborations, reaffirming the company's dedication to creating thriving communities and a brighter future in real estate.Read more

30 Aug 2023

DRA Homes is making its entry into North Chennai on the occasion of the 384th Madras Day. With a reputation for customer-centricity and on-time delivery, DRA Homes is announcing joint development projects in Madhavaram. These projects strategically capitalize on the area's growth potential, benefiting from improved metro connectivity and infrastructure. Their landmarks across Chennai, including Truliv Olympus, DRA Ascot, and Tuxedo, showcase their commitment to quality and transparency. The upcoming projects in North Chennai aim to continue this legacy, capitalizing on their strategic location near metro stations and essential amenities, ensuring completion around the time of metro operationalization.Read more

29 Aug 2023

Roha Realty, a renowned real estate developer focused on upscale residential apartments in Mumbai and Thane, has partnered with MHADA for the redevelopment of two large societies in Subhas Nagar, Chembur. Demonstrating its prowess as a premium developer, Roha Realty aims to enhance residents' lifestyles through modern spacious apartments, top-tier amenities, and sustainability measures. The project will merge the two societies into a unified entity, reflecting Roha's commitment to quality and design. Chembur's strategic location and connectivity make it an attractive market for luxury living, further bolstering the investment potential of this development. Roha Realty's dedication to transparency and client satisfaction drives its mission to be Mumbai's premier real estate developer.Read more

29 Aug 2023

Concorde, a prominent real estate developer, has planned an expansive investment of around Rs 1200 crore over the next three years. The focus will be on launching 3.5 million square feet of premium residential spaces in North and East Bangalore, capitalizing on demand and absorption rates. With six projects in the pipeline, the company anticipates an annual sales of about Rs 500 crore. Concorde envisions innovation, vibrant communities, and smart features in its designs. The commitment to green living and spatial harmony remains strong. This strategic move redefines luxury living in Bangalore, presenting exceptional value to clients and stakeholders alike.Read more

29 Aug 2023

Digital marketing agency Wiredus and real estate developer Silverglades have partnered to raise awareness about senior citizen living projects, focusing on The First Citizen by Melia. This initiative aims to redefine the lives of senior citizens by emphasizing health, wellness, and comfort in luxury senior living communities. The collaboration combines Silverglades' expertise in crafting contemporary residences with Wiredus' digital solutions. The project offers one and two-bedroom apartments equipped with amenities like fitness centres, spas, pools, libraries, and medical facilities. The partnership aims to transform the narrative of senior community living, providing seniors with an enriching and fulfilling retirement experience.Read more