Page 2 - Housing Project

Shapoorji Pallonji targets ₹ 1,400-cr sales from Gurugram housing project

Shapoorji Pallonji Real Estate (SPRE), in partnership with KREEVA and ASK Property Fund, on Thursday launched a luxury housing project in Gurugram with a revenue potential of Rs 1,400 crore. In October last year, Shapoorji Pallonji Real Estate (SPRE) formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a residential project, spread over 1.75 acre, in Sector 46, Gurugram. On Thursday, SPRE launched this new project -- The Dualis -- comprising 198 units, as part of its expansion plan to encash strong housing demand across major cities. "The project is poised to generate projected top-line revenues of over Rs 1,400 crore over the next five years," SPRE said in a statement. The project features two towers, each having a height of about 150 metre, with 198 apartments. The size of the flats ranges from 2,850 to 3,600 square feet. Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate (SPRE) & Managing Director of Joyville Shapoorji Housing, said, "With 'The

Macrotech Developers to launch Rs 19k crore housing projects this fiscal

Realty firm Macrotech Developers Ltd plans to launch housing projects worth Rs 19,000 crore across Mumbai Metropolitan Region, Pune and Bengaluru during this fiscal as it seeks to expand business amid strong demand for residential properties. Mumbai-based Macrotech Developers, which sells properties under 'Lodha brand', is one of the leading real estate firms in the country. In an interview with PTI, Macrotech Developers Executive Director- Finance Sushil Kumar Modi said the company remains bullish about the growth prospects in Indian real estate sector and will keep investing to expand business. "In the last fiscal, we launched around 10 million square feet area with a Gross Development Value (GDV) of around Rs 14,000 crore spread across 24 projects," he said. Modi said the company would launch 17 housing projects in the current fiscal covering 13 million square feet area and an estimated sales booking potential of Rs 19,000 crore. These projects will be launched across MMR, Pune

Experion Developers to invest over Rs 2K cr in new Gurugram housing project

Realty firm Experion Developers will invest more than Rs 2,000 crore to develop a luxury housing project in Gurugram as part of its expansion plan, its CEO Nagaraju Routhu said. The company will develop 540 apartments in the upcoming luxury housing project 'The Trillion', which is located in Sector 48, Gurugram. "The total investment to develop this 5.5-acre project will be more than Rs 2,000 crore," Routhu told PTI. He said the company will soon start construction work and the entire project will be completed in 5-7 years. Routhu said the demand continues to be strong in the Gurugram market. In the first phase, the company is offering around 180 apartments for sale in a price range of Rs 6-8 crore. Experion Developers has delivered 9 projects in Delhi-NCR, Amritsar and Lucknow while two housing projects in Noida and Gurugram are under construction. The company is a 100 per cent FDI-funded real estate developer and wholly-owned subsidiary of Experion Holdings PTE Ltd, ...

Registration of housing properties in big cities touches 544K units in FY25

Registration of housing properties stood at 5.44 lakh units in the last financial year across eight major cities, including Mumbai, Bengaluru and Hyderabad, increasing 77 per cent since 2018-19 fiscal, according to Square Yards. Other major property markets included Navi Mumbai, Thane, Pune, Noida and Greater Noida. On Friday, real estate consultant Square Yards released a report, 'Primary Vs Secondary: Unpacking Demand Trends in India's Residential Market', which showed that primary market (first sale) share in total registration stood at 57 per cent, while secondary market (re-sale) took the remaining 43 per cent in 2024-25. The data includes residential transactions for apartments, plots and villas. In volume terms, secondary transactions rose from 1.22 lakh units in FY19 to 2.33 lakh units in FY25. During the same period, primary market transactions increased from 1.84 lakh units to 3.11 lakh units. Tanuj Shori, CEO & Founder, Square Yards, said: "The residential market has .

Sumadhura Group to invest ₹250 cr in 4 years for Bengaluru housing project

Realty firm Sumadhura Group will invest Rs 250 crore to develop a housing project in Bengaluru. In a statement on Tuesday, the company said it has entered South Bengaluru with the launch of project 'Codename Uru' located in Kenchanhalli. Spread over 3.25 acres of land, this landmark project is expected to generate a topline of Rs 500 crore. The project, which is expected to be completed by December 2029, will have 297 homes across two towers of 28 floors each. The company will invest about Rs 250 crore over the next four years to develop this housing project. Madhusudhan G, Chairman & Managing Director of Sumadhura Group, said: "South Bengaluru has emerged as a vibrant growth corridor...we see this expansion as a natural step in our vision to create strategically developed and lifestyle-focused communities across Bengaluru." In the past 30 years, the company has delivered 54 projects comprising over 130 lakh square feet, and up to 400 lakh square feet area is in the pipeline. The

Mumbai's luxury realty loses sparkle as buyers slip into pause mode

Mumbai - home to industry titans, Bollywood stars - is witnessing a slow offtake of houses priced between ₹10 crore and ₹50 crore. Industry insiders and real estate watchers explained the phenomenon

Godrej Properties eyes Rs 1,350 cr revenue from Mumbai housing project

The development will offer approximately 4.4 lakh square feet of saleable area, focusing on premium residential units, with an estimated revenue potential of Rs 1,350 crore

NBCC, MAHAPREIT sign ₹25,000 cr MoU for housing, urban projects

State-owned NBCC has signed an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd to jointly undertake housing and urban development projects worth Rs 25,000 crore in Maharashtra. In a statement on Wednesday, NBCC said it has signed a strategic Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT). This collaboration aims to jointly undertake a wide range of consultancy, fee-based, EPC and redevelopment projects from concept to commissioning, it added. NBCC said it will be entering into redevelopment for the first time in Maharashtra after having great success in transforming the landscape of Delhi through this unique redevelopment model. Under this partnership, NBCC and MAHAPREIT will collaborate on key infrastructure projects in Maharashtra, including cluster development projects in Thane Municipal Corporation, data centres, renewable energy initiatives, slum rehabilitation projects in the Mumbai

Birla, Mitsubishi Estate ink JV to invest Rs 560 cr in new housing project

Aditya Birla Real Estate Ltd arm Birla Estates has entered into a joint venture with Mitsubishi Estate Co Ltd (MEC) and will invest Rs 560 crore to develop a housing project in Bengaluru. Birla Estates Pvt Ltd has entered a joint venture with Mitsubishi Estate Co Ltd for a Rs 560 crore investment in a residential housing development in Southeast Bengaluru through a special purpose vehicle (SPV). Under the partnership, Birla Estates and MJR Investment Pte Ltd (MIPL), an affiliate of MEC, will share 51:49 economic interest, respectively, in the SPV. The SPV will lead the development of the premium residential project, which spans 40 lakh square feet of built-up area. KT Jithendran, MD & CEO of Birla Estates, said, "We are pleased to announce our strategic collaboration with Mitsubishi Estate, marking its maiden investment in India's residential real estate sector, to develop premium residential project". Birla Estates develops premium residential housing in key markets. The company

Brigade Group to invest about Rs 4,500 crore in Hyderabad project

Realty firm Brigade Enterprises Ltd will invest around Rs 4,500 crore to develop an integrated 10-acre housing and commercial project in Hyderabad to expand the business to encash strong demand for luxury homes and premium office-retail spaces. Bengaluru-based Brigade Enterprises launched its new mixed-use project 'Brigade Gateway' on Wednesday at Neopolis Kokapet, Hyderabad. "We will develop a 45 lakh square feet mixed-use project in Hyderabad, of which around 25 lakh square feet will be luxury homes," the company's Executive Director Amar Mysore told PTI. Asked about project cost, he said the total investment in land and construction will be around Rs 4,500 crore. The investments will be met through equity, collections from customers against sales and construction finance. Elaborating on the project, Mysore said the company will build 600 flats in this project. Initially, it plans to sell half of it in a price range of Rs 4 crore to Rs 12 crore each. The company will also devel

PM Modi inaugurates Swabhiman Apartments in Delhi: Check all details here

Prime Minister Narendra Modi will inaugurate 1,675 newly constructed flats in Delhi's Ashok Vihar, specifically designed for eligible beneficiaries from slum areas

Worldwide Realty to invest Rs 320 cr on 22 acre housing project in Haryana

Real estate firm Worldwide Realty will invest around Rs 320 crore to develop a 22-acre housing project in Manesar, Haryana. The Gurugram-based company is developing the Golden Residences project under the Deen Dayal Upadhyay Jan Awas Yojna (DDJAY) scheme of the Haryana government. "In this 22-acre project, we have already sold some housing plots. Now, we are launching 400 independent floors for sale," said Vikas Aggarwal, Chief Operating Officer of Worldwide Realty Pvt Ltd. The company will be launching more independent floors in the next phase. Asked about the total investment of the entire 22-acre project, Aggarwal said the construction cost will be around Rs 320 crore. The company owns the land parcel historically. "We have launched independent floors at a starting price of Rs 1.7 crore each," Aggarwal said. The company has already developed the infrastructure under this project, which is part of a large 180-acre integrated township The Golden City. Out of this 180-acre land

NCLAT appoints NBCC as consultant to complete Supertech's housing projects

State-owned NBCC has been appointed as a project management consultant to complete Supertech Ltd's 16 real estate projects at a cost of nearly Rs 9,500 crore, a move that will provide relief to thousands of homebuyers. In a regulatory filing on Thursday, the company informed that the National Company Law Appellate Tribunal (NCLAT), vide its order dated December 12, 2024, has "appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd". NBCC will complete 16 projects, comprising 49,748 houses in Uttar Pradesh, Uttarakhand, Haryana and Karnakata. "The tentative construction cost of the project is approx Rs 9,445 crore, including 3 per cent contingency. The consultancy fee has been fixed as 8 per cent, including 1 per cent marketing fee," NBCC said. The public sector company is mainly into project management consultancy (PMC) and real estate business. NBCC is already completing stalled projects of Amrapali Group on the order of

Signature Global awards Rs 1,203 cr Gurugram project to Capacit'e Infra

Realty firm Signature Global has awarded a Rs 1,203 crore contract to Capacit'e Infraprojects Ltd to construct its housing project in Gurugram. In a statement on Sunday, Signature Global said it has awarded the construction contract for its premium residential project 'Titanium SPR' at Sector 71, Gurugram. "The contract worth Rs 1,203 crore has been entrusted to the renowned construction company Capacit'e Infraprojects," it added. Spanning 14.382 acres, this project has a total of 608 units. The company will develop this project in two phases. Out of the total sales potential area of 3.7 million sq ft in this project, Signature Global launched the first phase, comprising 2.1 million sq ft, in June 2024. Pradeep Aggarwal, Chairman and Whole-Time Director of Signature Global, said, "By partnering with Capacit'e Infraprojects, we are confident that Titanium SPR will emerge as a landmark in the Delhi NCR region". Earlier this month, Signature Global reported a nearly three-fold incr

Kalyani Developers plans to invest Rs 5,300 cr on housing, hotel projects

Bengaluru-based Kalyani Developers plans to invest around Rs 5,300 crore to develop housing and hospitality projects in South India. In a statement on Thursday, the company announced its foray into the residential segment with three projects planned in North Bengaluru, Whitefield and Kanakapura Main Road. The company is also planning a mixed-use development in Hyderabad. "The overall investment for these projects would be around Rs 4,500 crore over the next two years. The company is also planning Rs 800 crore investment in two hotels comprising 300 rooms each in North Bengaluru," it added. "Over the past three decades, we have established a strong reputation in commercial real estate, hospitality, automobiles (with more than 75 showrooms in Bangalore, Mysore, and Hyderabad), and renewable energy...," A Mohan Raju, Managing Director and CEO, Kalyani Developer, said. The residential segment presents a significant opportunity for the company to leverage this legacy and expertise, he

Macrotech acquires 7 land parcels to build Rs 16,600 cr housing projects

Realty firm Macrotech Developers has acquired seven land parcels in Mumbai Metropolitan Region (MMR), Pune and Bengaluru to develop housing projects with an estimated revenue potential of Rs 16,600 crore. Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, has been acquiring land through outright purchases as well as forming partnerships with landowners for joint development. In its latest operational update, the company informed that it has added four projects in Pune and Bengaluru, having Rs 5,500 crore of GDV (gross development value). During the first six months of this 2024-25 fiscal, the company has added projects worth Rs 16,600 crore, which is more than 75 per cent of its full year guidance of Rs 21,000 crore. The company had acquired three land parcels in the MMR and Pune during the April-June quarter to develop projects with a revenue potential of Rs 11,100 crore. Out of the total 7 land acquisitions, the company did not provide details

Max Estates sells Rs 4,100 cr worth properties within 1 month in Gurugram

Realty firm Max Estates Ltd has sold residential properties worth Rs 4,100 crore in the last one month at its new project in Gurugram. Max Estates launched its first residential project in Gurugram named 'Estate 360' on August 27. "Within 30 days of the launch, Estate 360 has garnered a pre-sales booking value of around Rs 4,100 crore surpassing the guidance of around 4,000 crore provided by the company for FY'25," Max Estates said in a statement. With this successful launch, Max Estates has revised the guidance for the total Gross Development Value potential of this project to Rs 4,800 crore in FY25. The project is located at Sector 36A, Dwarka Expressway, Gurugram. The project will also have flats for seniors to be managed by Antara Senior Living with a dedicated healthcare centre open to all residents of the community. Max Estates is the real estate arm of the Max Group.

Prestige Group eyes Rs 1,100 cr revenue from new housing project in B'luru

Realty firm Prestige Group has launched a new housing project in Bengaluru with a sales potential of Rs 1,100 crore. The project 'Prestige Pine Forest', spread over 9 acres, is located at Whitefield in Bengaluru. The company will develop 316 units in 4 towers, the company said in a statement on Monday. Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments -- residential, office, retail, hospitality, property management, and warehouses with operations in more than 13 major locations in India. The group has completed more than 300 projects spanning a developable area of 190 million square feet.

NBCC, MTNL sign pact for Rs 1,600 cr worth housing-cum-commercial project

State-owned NBCC (India) Ltd has signed an initial pact to develop a Rs 1,600-crore worth housing-cum-commercial project on a 14-acre land parcel owned by MTNL on Pankha Road in the national capital. In a statement on Thursday, NBCC said that it has signed a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Ltd (MTNL) to collaborate and "develop a prominent land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi." This project aims to transform the land into a state-of-the-art residential/ commercial space, leveraging the expertise and resources of both organizations. "The project is valued at Rs 1600 crore approximately," NBCC said. The MoU was signed in the presence of K P Mahadevaswamy, CMD, NBCC, A Robert J. Ravi, CMD, MTNL. MTNL, a leading public sector telecommunications company and NBCC, a Navratna enterprise under the Ministry of Housing & Urban Affairs, have committed to this development project. "NBCC will act as the ...

Keystone Realtors to invest Rs 900 cr on housing project in FY25: CMD Irani

Keystone Realtors will step up investment on construction of residential projects this fiscal to Rs 800-900 crore as part of its strategy to ramp up execution capabilities. Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in the Mumbai Metropolitan Region (MMR). In an interview with PTI, the company's CMD Boman Irani, who is also president of realtors' apex body CREDAI, said the company would invest a lot on construction and land purchases this fiscal to grow its business. "We will be investing around Rs 800-900 crore on pure construction during this fiscal. We invested around Rs 400 crore in the last financial year," he said. Irani said the company has a surplus liquidity of around Rs 3,000 crore to make investments for growth. "We raised Rs 800 crore from Qualified institutional placement (QIP) plus our internal cash flow," he said. Irani noted that the demand in the hous