VATIKA GROUP
Air India Express moves to new campus, joins Air India in Vatika One-on-One complex in Gurugram
Air India Express has moved its headquarters to the Vatika One-on-One complex in Gurugram, now sharing the campus with Air India's main office. The new facility emphasizes innovation, sustainability, and a future-ready approach, featuring "The Patterns of India" theme in its design. It boasts an open floor plan with natural light, collaborative spaces, and gender-inclusive amenities. The airline aims to enhance productivity with ample meeting rooms and private areas.
Sweltering heat pushes up demand for temporary workers in rural markets
There is a 20% year-on-year increase in rural job vacancies, according to executives at recruitment services and consumer companies. They estimate 20,000-50,000 new temporary jobs are being created this year thanks to robust summer season demand in rural and semi-urban areas while companies with a large focus on rural businesses are looking to bolster sales and distribution presence in the hinterlands.
SWAMIH fund approves Rs 340 crore for Vatika project in Gurgaon
The project, spanning 14 acres, boasts a saleable area of 1.4 million square feet. Initiated nearly a decade ago, it comprises approximately 640 apartments, with 150 units sold prior to SWAMIH's involvement.
Edelweiss Alternatives lends Rs 700 cr to Vatika Hotels to refinance existing debt
Vatika Hotels (VHPL), established in April 2004 in New Delhi, is a special purpose vehicle (SPV) under the umbrella of the Vatika Group, which makes condominiums and community housing in Gurgaon and the surrounding suburbs of New Delhi.
140-year-old Dabur family hits trouble as it reinvents its business
As the Dabur family, now being spearheaded by the fifth generation, spreads its bets beyond its traditional FMCG and Ayurvedic business, it has run into trouble with the law. Recently, an FIR by Mumbai police into the Mahadev betting app has named Dabur chairman Mohit Burman and director Gaurav Burman. However, both have denied any links to the case. The Burman family has claimed that the allegations by the REL directors are a response to the Burmans drawing attention to some trades by an unspecified executive
Experion invests Rs 200 crore in Vatika housing project
The project, situated on a 10.5-acre land parcel along the Dwarka Expressway, is anticipated to encompass 1 million sq ft of residential area and will be developed in two phases, with the first phase currently under construction. Property consultant CBRE was the transaction advisor for the deal. An email sent to Experion Capital, Vatika Group and CBRE remained unanswered till press time.
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HDFC to hold auction of two hotels after Prudent ARC makes binding offer
Prudent ARC's binding offer of ₹311 crore has triggered a Swiss challenge auction for the hotel properties with total loans of ₹507 crore. Prudent's offer equates to a recovery of 61% for the housing finance company. HDFC has invited counteroffers from other asset reconstruction companies (ARCs) by June 26, a notice issued by the housing finance company stated.
Vatika group leases 1 million sq ft across projects
Indian companies have overtaken American firms in gross leasing of office space for the first time, with almost a 50% share in the total demand, according to CBRE India. In its report, CBRE said that the gross leasing of office space rose 40% in 2022 to 56.6 million square feet across nine major cities from 40.5 million square feet in the previous year.
Affordable housing segment in India to grow further, say real estate experts
Investment in infrastructure has a significant multiplier impact on growth, and the Government has targeted it by increasing the capital investment outlay by 33% to Rs 10 lakh crore, which would be 3.3% of GDP -- three times the outlay made in 2019; the impact would be on increased job potential leading to increased demand for residential real estate.
Haryana RERA orders Vatika Ltd to refund homebuyers money
The Gurugram bench of the Haryana real estate regulatory authority (HRERA) has ordered Vatika Limited to refund money with interest to all 28 allottees of its housing project which the developer has abandoned.
Air India to dismantle regional headquarters, shift to Gurugram
The airline currently has four regional headquarters headed by four regional directors. Air India inherited the regional structure of command from the erstwhile Indian Airlines after the two airlines were merged.
Air India Group starts vacating its offices from government-owned properties
Air India, Air India Express and AirAsia India will be housed jointly in a modern office campus in the National Capital Region by March next year, in line with this consolidation strategy, which is being undertaken to improve collaboration and more easily deploy new technology, among others, according to a statement.
Air India in talks to lease 400K sq ft at Vatika complex in Gurugram
"Air India is planning to consolidate and was initially looking for a property with Tata Realty, but that building is part of SEZ. Now, they have decided to move to this building, which is on the National Highway," said one of the people aware of the deal. The Vatika project, One on One, on National Highway 8 is spread across 2.2 million sq ft and is being developed in two phases with an investment outlay of ₹1,200 crore.
Google terminates lease deal with Vatika over 'delay'
Google had signed the pact in June 2020, but the real estate developer has laid a counterclaim in a letter to the tech major suggesting that the company was already in possession of the building and currently was in process of fitouts when the agreement was abruptly terminated.
Park+ ties up with Supertech to provide digital parking solutions in housing societies
“In a residential society, approximately only 7% of the vehicles belong to visitors. A large chunk of vendors often lacks the required infrastructure and technical know-how to support the servicing aspect. Park+ has a dedicated maintenance team to ensure that there is a frictionless operation of the system for residents to enter and exit the society without a time-consuming process,” said Amit Lakhotia, Founder of Park+.
Vatika group repays Rs 1,109 crore, to sell more land to clear debt
Some of the major repayments include a repayment of Rs 304 crore to Piramal Enterprises, Rs 108 crore to HDFC Limited, Rs 519 crore to Indiabulls, Rs 82 crore to ICICI Bank and Rs 74 crore to Standard Chartered Bank.
Realty developer Vatika files review petition against termination of license for residential colony
The application filed by Vatika stated that the group has paid an excess of Rs 2.48 crore, for which the application is pending.
LIC's housing finance subsidiary sanctions Rs 600 crore to five developers
At a time when most banks and nbon-bank lenders shy away from the real estate sector, the housing finance subsidiary of Life Insurance Corporation of India is going aggressive on developer financing. These range from fresh disbursals to refinance deals where the mortgage lender has taken over loans from other lenders.
Park+ joins hands with Vatika Group to offer its tech-led parking solutions
Park+ allows users to discover and book parking slots and pay digitally.
Housing societies in NCR converting club house into a Covid isolation facility
Eldeco Utopia, in sector 93A of Noida have turned club house into a alternate isolation room with provisions of beds, oxygen cylinders and equipment for monitoring oxygen levels. Supertech and Mahagun Mascot in Crossing Republik in Ghaziabad have also started preparation.
Office space operators finalise guidelines for reopening post lockdown
Office space operators like DLF, Vatika, M3M and the Bird group have finalised detailed protocols to be followed once the offices reopen.
Covid19 Impact: Facility management companies ensure workers’ engagement with extra incentives
The companies are doing so to ensure worker engagement, and several clients are ready to pay for this. Workers are also being provided food, temporary accommodation, and hygiene support and their safety is taken care of as well. Top facilities management companies in India employ lakhs of blue-collar workers.
Vatika leases 7 L sq ft office space to Google
US banking giant Goldman Sachs recently invested Rs 610 crore in Vatika Group, of which Rs 245 crore will be used to expedite construction in the first phase of this project. Google will pay a rental of about Rs 115 per sq ft per month for 25 years.
Goldman Sachs invests in realtor Vatika Group
US banking giant Goldman Sachs has invested Rs 610 crore in Gurgaon-based realty developer Vatika Group in a part equity part debt deal, according to Vatika Group's managing director, Gaurav Bhalla.
Vatika leases one lakh square feet office space to Dentsu in Gurugram
This standalone commercial building at sector 44, Gurugram is expected to be ready by July 2020 and will cater to over 1100 employees as well as support staff. The project will be constructed on the ‘build to suit’ model with a total investment of Rs 65 crore.
Vatika group to invest Rs 8000 cr on township project at Gurugram
The company will develop 15,000 housing units and 6.5 million sq ft of commercial space in this township project 'Vatika India NEXT2'.
Piramal Fund Management in the process of investing Rs 1,500-2,000 crore
The investment, in Wadhwa Group’s portfolio of projects, will be made in the form of lease rental discounting that will refinance the developers’ existing debt facilities, two persons familiar with the matter told ET.
Vatika Group buys Gurgaon land from Ramprastha Group for Rs 300 crore
Vatika is raising funds for the transaction, which will enable Ramprastha to give a partial exit to Altico Capital.
CCI dismisses anti-competitive case against Vatika Group
The matter relates to the purchase of a commercial unit in Vatika Professional Point Sector in Sector 66 of Gurgaon, Haryana.
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