Property / C'struction
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Mumbai property market sets yet another benchmark, records best-ever June; registrations rise 12%
Mumbai, India's largest and priciest property market, has achieved a new milestone by recording its highest-ever property registrations for the month of June. In June, the city saw 11,538 property registrations, marking a 12% increase from the previous year. This led to the state exchequer collecting over Rs 998 crore in stamp duty revenue, reflecting a 16% year-on-year rise
Concorde acquires 1.6 acre land in Bengaluru
Concorde, a real estate developer based in Bengaluru, has purchased a 1.6-acre land parcel situated on Sarjapur Road in the city. This joint development project is slated to become a high-end residential complex with an estimated gross development value (GDV) of Rs 200 crore. Earlier in March, Concorde also acquired a 4.5-acre plot in Thanisandra, Bengaluru.
WeWork India appoints Janak Malkani to drive expansion in managed office business
WeWork India has appointed Janak Malkani as the head of managed office and sales for the West region. Malkani's extensive real estate experience will enhance WeWork India's managed office offerings, with a focus on innovative and efficient workspace solutions. WeWork India's flexible workspace market has seen significant growth, with a third of its business driven by the Managed Office portfolio, serving notable enterprise members.
MMRDA inks Rs 850-crore urban infra financing pact with German development bank KfW
The funds procured from KfW and MMRDA's resources will be primarily allocated towards various sustainable development projects within and around the Mumbai Metropolitan Region. These initiatives include the development of green corridors, solid waste management systems, recycling and reuse facilities, and the promotion of renewable energy solutions to address environmental concerns and enhancing the quality of life for residents in the bustling metropolitan area.
By 2027, no of branded residences projects forecast to increase to 1200: Noesis Capital Advisors Report
While the Noesis analysis shows that the price premium of such residences globally is very high, in comparison, India currently sees a price premium of around 21-40% as per the market. The company said there is no reason to indicate why this number cannot go up in the future.
Amitabh Bachchan buys two luxury apartments in Mumbai’s Borivali suburb
The deal comes immediately after the veteran actor recently purchased three more office properties spread across three floors in a commercial project in Oshiwara locality of Mumbai’s western suburb of Andheri. Bachchan purchased apartments in Borivali worth nearly Rs 7 crores from Incline Realty, a subsidiary of Oberoi Realty. These apartments spread over 2,188 sq ft are located on the 57th floor of the tower, the same floor where his son Abhishek’s apartments are situated.
Apple set to lease office tower from Embassy Group in Bengaluru
Apple Inc leased an office tower in Bangalore with record rent. The site was previously a hotel near Bangalore Golf Club. Manufacturing operations expanded with Foxconn Technology Group and Tata Electronics, including a local supplier network and large facilities.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
Housing sale decline by 8% Q-o-Q as prices continue to rise
During the April-June quarter, residential sales witnessed an 8% drop compared to the previous quarter, attributed to the election season, heatwave, and rising property prices. Anarock data shows that 1,20,340 units were sold in Q2 2024 across the top 7 cities, down from 1,30,170 units in Q1 2024.
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Flexible workspace operator Smartworks raises Rs 168 crore
“Capital from the latest fund raising will be used for the growth and expansion of the business of the company and to meet its general corporate expenses,” said Neetish Sarda, founder Smartworks.
Paradigm Realty inks pact to redevelop 11 societies on 5 acres in Mumbai’s Bandra, Kandivali
Paradigm Realty has signed agreements to redevelop 11 housing societies in Mumbai's western suburbs of Bandra and Kandivali, with a gross consolidated revenue potential of around Rs 4,500 crore. The projects, spread across over five acres, have development potential of over 2.8 million sq ft. The Mahavir Nagar project has a development potential of over 2.5 million sq ft, with a free-sale RERA carpet area of up to 1 million sq ft holding a gross development value of nearly Rs 3,500 crore.
Supertech, Sunworld groups lose land plots on Yamuna Expressway over pending dues
The Yamuna Expressway Industrial Development Authority (YEIDA) has cancelled land parcels to Sunworld Infrastructure and Supertech Township near the Noida International Airport and proposed Film City due to pending dues. Sunworld Infrastructure owed Rs 164.86 crore, while Supertech Township had pending dues worth Rs 137.28 crore.
BlinkX opens India’s first Gen AI lab in the stock broking industry
BlinkX Gen AI Lab in Mumbai drives trading innovation with the Hyper Personalised Nudge Engine, enhancing customer experiences through real-time data on the mobile app for traders of all risk tolerances.
CJ Darcl leases 1.25 lakh square feet space at Narasapura IndoSpace park
This strategic move is aimed at enhancing CJ Darcl's warehouse and distribution management capabilities in South India, allowing the company to provide tailored end-to-end logistics solutions to its clients.
Gross leasing of office space up 8 pc to 158 lakh sq ft in Apr-Jun in top 6 cities: Colliers
India's office market shows resilience with sustained growth driven by positive economic indicators. The surge in demand for quality office spaces, led by technology and manufacturing sectors, is expected to surpass 50 million square feet in 2024, reflecting confidence in the market's future prospects.
