RESIDENTIAL PARKING
Bollywood actor Ronit Roy buys sea-view luxury apartment in Mumbai’s Versova
Bollywood actor Ronit Roy and his wife Neelam acquired a 4,259 sq ft sea-view apartment in Versova, Andheri from Macrotech Developers for nearly Rs 19 crore. The June 10 deal includes four exclusive parking slots and a stamp duty of Rs 1.14 crore. The 29-storey project will be completed by December 2026. High net-worth individuals, including Bollywood stars like Amitabh Bachchan, Shahrukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan, and Aishwarya Rai, are investing in real estate.
Sattva Group to invest Rs 12,000-14,000 crore in diversification over next three years
“The funding for the initiative will be structured with a combination of equity, debt and sales. Approximately 20% of the funding will be in equity, while the remainder will be sourced from debt and sales proceeds,” he told ET. “Our approach to debt is highly prudent and disciplined. The company's primary focus lies on commercial and residential projects, which form the bulk of our portfolio.”
Delhi govt might impound your vehicle parked in public spaces for this reason
Delhi govt empowers enforcement wings to impound overage vehicles found parked in public places, even with NOC, if not moved out of Delhi within one month.
Mahindra Lifespace eyes Rs 8-10K crore sales in housing, industrial spaces by FY28
Amit Sinha, MD & CEO, mentioned the successful annual sales and highest pre-sales of Rs 2,328 crore in residential business for Mahindra Lifespace. They also achieved land leasing of 119.4 acres for industrial business.
Gopalan Enterprises targets Rs 500 crore rental income over 4-5 years
Real estate developer, Gopalan Enterprises, part of Gopalan Group, aims to increase its office rental income to Rs 500 crore annually and could list its assets as a real estate investment trust (REIT) in the next four-five years, a senior company executive said.
Kiran Gems’ Rajesh Lakhani buys sea-view luxury apartment in Worli for Rs 97 cr
Rajesh Labhubhai Lakhani, director of Kiran Gems, buys a luxury apartment in Mumbai's Three Sixty West tower. The tower includes The Ritz-Carlton Hotel. Kiran Gems is a sightholder authorized to buy rough diamonds from De Beers Group.
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Facing parking space manipulation by the builder? MahaRERA empowers home buyers against the defaulting promoters
MahaRERA: Now flat buyers don't have to worry about parking space inside the flat, as MahaRERA has passed a order mandating parking space to be accurately communicated in both allotment letter and sale agreement. Read here to know more about the parking order by MahaRERA and how it will help you.
Infra push, talent access helps satellite cities reshape India's commercial realty
India's commercial real estate landscape in satellite and tier II cities is undergoing significant transformation due to robust infrastructure development, strategic urban planning, talent availability, and lower cost of living. Cities like Navi Mumbai, Pune, Gurugram, Noida, and Hyderabad have seen extensive investment in road networks, metro connectivity, and digital infrastructure, making them attractive hubs for businesses.
Shahid Kapoor buys sea-view luxury apartment in Mumbai’s Worli for Rs 60.4 cr
The apartment spread over 6,176 sq ft on the 24th floor of Three Sixty West project on Dr. Annie Besant Road is the second such deal concluded by the actor in this luxury residential tower. Prior to this, Kapoor and his wife had purchased a duplex on the 42nd and 43rd floor of the same tower of the high-rise project for over Rs 58.57 crore in 2018.
Fire breaks out in residential building in east Delhi, three dead
A fire broke out in a four-storey residential building in east Delhi, killing three people. A charred body of a 66-year-old woman was recovered from the first floor, while two others, Keshav Sharma and Anju Sharma, were declared dead by doctors. The fire began in 11 two-wheelers in the stilt parking of the house and spread on the first floor. Twelve people were rescued and sent to different hospitals.
Ghazipur landfill, parking and crime major issues in East Delhi constituency, say voters
Residents of East Delhi Lok Sabha constituency are concerned about inadequate parking, unauthorised colonies, the Ghazipur landfill, and crime rate. BJP's Harsh Malhotra and AAP candidate Kuldeep Kumar are in a direct contest in the constituency with 21,20,584 voters. In his priorities, INDIA bloc candidate Kuldeep Kumar focuses on law and order, land encroachment, and removing the landfill site. BJP candidate Harsh Malhotra aims to establish a mega hospital and provide flats to slum dwellers if elected.
Kiran Gems MD Patel buys sea-view luxury pad in Mumbai’s Worli for over Rs 97 crore
Mavjibhai Patel, the managing director and member of the promoter group of Kiran Gems, one of the world's largest natural diamond manufacturers, has acquired a sea-view luxury apartment in a highly prestigious residential tower located in Mumbai's upscale Worli area for approximately Rs 97 crore.
MahaRERA mandates strict parking regulations to prevent disputes
Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced directives to address parking issues in residential developments. Developers are required to include specifics about parking dimensions, numbering, and location within buildings in allotment letters and agreements for sale. The move aims to ensure transparency and adherence to regulations, and to uphold consumer rights and foster accountability.
Developers snap up 58% more land in FY24 amid rising residential demand
In 2023-24, developers and entities finalised 101 land deals totaling 2,989 acres in India, driven by high residential demand. Major deals occurred in top cities, with tier 2 and 3 cities also showing growth potential. Notable increases were seen in residential, plotted development, and township projects, reflecting a buoyant market.
Here's how Bengaluru's water crisis has affected real estate sales as per Knight Frank report
Housing sales in Bengaluru have slightly decreased by 2% to 13,133 units compared to 13,390 units last year, mainly due to reduced sales in the affordable housing category. The office space demand in the IT city remained steady at 3.5 million square feet, according to a report by Knight Frank. Sales in the less than ₹50 lakh housing segment dropped by almost 65% to 70%, while sales in the ₹50 lakh-₹1 crore segment dipped by 7%. However, sales of houses in the more than ₹1 crore segment increased by almost 50%.
Embassy REIT plans to raise up to $400 million, hires banks, sources say
Embassy Office Parks aims to raise $400 million to meet office space demand from clients like Google, Cisco, and IBM. The plan involves hiring Morgan Stanley and Kotak, focusing on Chennai presence amid India's commercial real estate boom.
Concorde Group acquires 4.5-acre land in Bangalore
"With its prime location, excellent connectivity, and burgeoning demand, Thanisandra presents a compelling opportunity for us to create a residential development that redefines urban living. Additionally, the region has well developed infrastructure including seamless connectivity to the rest of the city through the upcoming metro line.” said Anil R G, managing director of the company.
Mahindra Lifespaces acquires 9.4-acre land parcel in Bengaluru's Whitefield
"Bengaluru continues to remain a focus market for us. This (deal) aligns with our strategy to deepen our presence in India's thriving urban centers, particularly within our focus markets," said Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers.
Bengaluru water crisis: Tech parks rely on sustainable designs, practices to function
Bengaluru technology parks sustain operations during water shortage with green initiatives, including rainwater harvesting and reduced electricity consumption. They implement green-building rating systems, reduce carbon footprint, and promote environmental sustainability. Companies urge employees to work from home, conserve water, and be climate responsible.
Stilt parking now mandatory for all Ghaziabad buildings
Ghaziabad's stilt parking rule aims to reduce congestion: The revisions now mandate the provision of stilt parking for all types of houses, without accounting for it in the calculation of the purchasable floor area ratio (FAR). Instead, stilt parking will be considered part of the building's height.
China's residential foreclosures increase 43% in 2023
The number of foreclosed homes in China rose 43% year-on-year in 2023, highlighting a worrying trend of rising mortgage delinquencies amid a sustained property market slump. Last year, a total of 99,000 units worth a combined 150 billion yuan were successfully sold at auctions. The number of foreclosures, including commercial, residential, and industrial properties, totaled 796,000 units, a record high. The southwestern cities of Chongqing and Chengdu were the most affected by home foreclosures. E-commerce company's online auction platform has already sold 11 luxury homes worth over 10 million yuan each in January.
The more things change on Park St,the more they...
In the special zone of Park Street and Free School Street in Kolkata, there were two sides to the street - the I-Have-Some-Money Street and the I-Am-Broke-But-So-What? Street. As a child, you could find Hobby Centre, Paragon Toys, and Flurys. As you grew older, Oxford Bookstore and cheaper bars became attractions. On the south side of Park Street, there were pavement kiosks selling tobacco, lighters, perfumes, chocolates, and more. On the north side, there were pavement magazine and paperback sellers. Free School Street led to New Market, where second-hand books and LPs could be found. However, recent changes have seen the shrinking of the pavement magazine spreads and the replacement of old establishments with car dealerships, mobile service purveyors, and shops selling horrible fluffy toys.
Developers continue to acquire land on the back of demand for real estate
A total of 97 land deals covering 2,707 acres were closed across India in 2023, up from 82 deals covering 2,508 acres the previous year. Around 72% of the land is expected to be used for residential development. Ahmedabad saw the largest land transaction and the highest land area transacted, while Bengaluru and the Mumbai Metropolitan Region (MMR) also had significant activity. Tier 2 and 3 cities also saw several land deals closed for various development purposes.
Israeli military says it found traces of hostages in an underground tunnel in Gaza
The Israeli military claims to have found evidence of hostages being held in an underground tunnel in Gaza City. Israeli officials say the tunnel in Khan Younis, part of the focus of their ground offensive, was used to hold captives in "difficult conditions." The military displayed the tunnel to journalists, revealing its humid, confined conditions, and evidence, including DNA, suggesting hostages were present. Israel has declared the destruction of the tunnel system, operated by Hamas, a top priority in its conflict with the group.
Why bigger and more shopping malls are coming up in top cities
The new supply of retail space in shopping malls increased 72 percent last year to 59.48 lakh square feet across eight major cities to meet rising demand from retailers, according to Cushman & Wakefield. In 2023, as many as 11 shopping malls became operational, covering 59,48,395 square feet of space across the top eight cities. In the previous year, nine malls came into eight markets, totalling 34,49,222 square feet area.
Yamuna Authority starts survey for developing 2,000 residential plots near Noida airport
Officials have outlined that the survey is anticipated to conclude within 15 days. Following this, the Authority will streamline the land acquisition process for the designated sectors. The identified sectors include Sector 5 for residential purposes, Sector 6 for industrial use, and Sectors 7 and 8 for mixed land use.
BPTP acquires land in Gurgaon for Rs 87 crore
According to the documents accessed through CRE Matrix, a real estate data analytics firm, the land has been acquired by Countrywide Promoters Pvt Ltd, a subsidiary of BPTP Group and it has paid Rs 6.1 crore as stamp duty for the transaction.
Ranveer Singh sells two residential properties in Mumbai’s Goregaon
Ranveer Singh has sold each of these apartments along with a total six car parking slots for over Rs 7.62 crore. The transactions have attracted a total stamp duty of Rs 91.50 lakh. Singh has sold the properties to a couple, who are residents of the same complex. The deals were registered on November 6, shows the documents accessed through IndexTap.com. Singh had bought these apartments along with his mother in 2014.
Prestige Group aims 55 pc annual growth in sales bookings this fiscal to record Rs 20k cr: CMD Irfan Razack
Prestige Estates Projects Ltd is expecting its sale bookings to increase by 55% this fiscal year, reaching a record high of Rs 20,000 crore. The company's chairman and managing director, Irfan Razack, stated that strong demand for residential properties was driving this growth. Sale bookings in the first two quarters of 2023-24 were around Rs 11,000 crore, leading to an upward revision of the sales guidance for the fiscal year.
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