Page 4 - Housing Project

Sunteck Realty to develop two projects in Mumbai, eyes Rs 3,000 cr revenue

Sunteck Realty Ltd on Monday said it will develop two luxury housing projects in Mumbai with an estimated revenue of around Rs 3,000 crore. In a regulatory filing, the company said it is set to enter two of Mumbai's most exclusive and sought-after locations -- Nepean Sea Road in South Mumbai and Bullock Road, Bandstand in Bandra (West). Sunteck Realty plans to develop these sites into ultra-luxurious residential apartments. "This again adds Rs 3,000 crores of GDV (gross development value) to Sunteck's portfolio, which has been exponentially growing over the last few years. The company has more than doubled its GDV from Rs 12,500 crore in FY2022 to Rs 30,100 crore in FY2024," the company said. Sunteck Realty Ltd focuses on a city-centric development portfolio of about 52.5 million square feet spread across 32 projects.

Vibrant Gujarat: MoUs worth Rs 24.7k cr signed ahead of investment summit

State-owned HUDCO on Wednesday said it has entered into a pact with the Gujarat government to invest up to Rs 14,500 crore for financing of housing and urban infrastructure projects. The state government intends for overall development of Gujarat by implementing various housing and infrastructure projects, according to a regulatory filing. Housing & Urban Development Corporation Ltd (HUDCO) has "executed a memorandum of understanding with the State Government of Gujarat for an investment up to Rs 14,500 crore for financing the housing and urban infrastructure projects in the state of Gujarat," the filing said. Being a techno-financial institution, HUDCO is in the business of providing financial assistance for housing and urban development projects in the country.

Lowrise takes the high ground: Why it's a homebuyers' favourite choice

Investing in a villa at a prime location is seen as a financially prudent decision that provides appreciation and stability in the long run

Prestige Estates expects Rs 550 cr from new housing project in Bengaluru

Realty firm Prestige Estates Projects Ltd expects Rs 550 crore revenue from its new residential project in Bengaluru. The company has launched a new housing project, 'Prestige Glenbrook' in the heart of Whitefield, Bengaluru's IT hub. "The development comprises 285 apartments across two high-rise towers with a developable area of 0.7 million square feet and has a revenue potential of Rs 550 crore," Prestige said in a regulatory filing on Thursday. Prestige Estates expects its sale bookings to rise 55 per cent this fiscal to touch an all-time high of Rs 20,000 crore on strong demand for residential properties. Its sale bookings stood at Rs 12,931 crore in 202223. "We have done pre-sales of around Rs 11,000 crore in the first two quarters. We had guided around Rs 16,000 crore (for the entire 2023-24). But having done Rs 11,000 crore of sales in the first six months, the team is very confident. Once all the approvals come and launches happen, we should cross Rs 20,000 crore," Prestig

Anant Raj plans 3 housing projects with revenue of around Rs 4,000 cr

Realty firm Anant Raj Ltd plans to launch three new housing projects in Gurugram and Andhra Pradesh during the next 6-9 months with an estimated sales value of Rs 4,000 crore, as it seeks to expand business amid strong demand for residential properties. Delhi-based Anant Raj Ltd, which is listed on stock exchanges, will launch a luxury group housing project in Sector 63A Gurugram, comprising over one million square feet of developable area. The company also has plans to launch plots and villas, having a saleable area of around 1 million square feet, in its nearly 200-acre township 'Anant Raj Estate' in Gurugram. Anant Raj has also started construction of 1,900 affordable housing projects at Tirupati in Andhra Pradesh. "We are planning to launch three projects in Gurugram and Andhra Pradesh within the next 6-9 months. We are expecting a revenue of about Rs 4,000 crore from these projects," Anant Raj Ltd Managing Director Amit Sarin said. The demand is very strong largely from ...

Prestige Group to launch luxury housing project in Delhi's KG Marg this yr

Bengaluru-based Prestige Estates Projects Ltd plans to develop a luxury housing project in central Delhi in partnership with a local realty firm and is looking for more land in Delhi-NCR to build residential properties, its CMD Irfan Razack said. Prestige Estates had forayed into the Delhi-NCR market a few years ago. It is already constructing a commercial project in Aerocity, Delhi while partnering with ACE group for a mid-income housing project in Sector 150 Noida. "The approval for Noida Sector 150 has been stuck for a long time. We are waiting for the approvals for launching a 15 acre mid-income housing project," said Razack, the Chairman and Managing Director of Prestige Group. He was speaking on the sidelines of the CREDAI-NATCON event in Egypt held on October 5-8. "We have taken one very high-end development in KG Marg, Delhi. It's a JDA (joint development agreement) with TDI. We have just done the initial term sheet. We have done initial payment to Indiabulls to clear some

Jharkhand gives nod to ambitious Rs 16,320 cr housing project for needy

The Jharkhand government on Wednesday gave its nod to the ambitious Rs 16,320 crore project for building 8 lakh houses for the needy by March 31, 2026, as promised by Chief Minister Hemant Soren on August 15. Two lakh people will be provided houses in the ongoing fiscal, followed by 3.5 lakh in the next fiscal and 2.5 lakh in the financial year 2025-26 at an expenditure of Rs 4,107 crore, Rs 7,107 crore and Rs 5,107 crore respectively, an official said. "The Jharkhand Cabinet meeting chaired by Chief Minister Hemant Soren gave its nod to 'Abua Awas Yojna (AAY) under which 8 lakh houses will be built by March 31, 2026," the official said after the cabinet meeting. The state government has made a provision for a clean kitchen with three rooms under AAY at a total investment of Rs 16,320 crore, the official said. Hoisting the national flag at the Morabadi Ground here on the 77th Independence Day, Soren had announced: "I had promised three-room houses for all in the state. In the comin

Godrej Properties sells around 670 flats worth over Rs 2K cr in Noida

Realty firm Godrej Properties Ltd on Monday said it has sold about 670 flats worth more than Rs 2000 crore in its new housing project at Noida on strong demands. Godrej Properties purchased the land through an e-auction conducted by the Noida Authority in November last year. In a regulatory filing, Godrej Properties informed that it has "sold 670 homes worth over Rs 2,000 crore in its project, Godrej Tropical Isle, located in Sector 146, Noida." This is Godrej Properties' most successful ever launch in terms of the value and volume of sales achieved, the company said. The project was launched in August. Gaurav Pandey, the MD and CEO of Godrej Properties said, "Noida is an extremely important market for Godrej Properties and we will look to further strengthen our presence in the years ahead." Godrej Properties, an arm of business conglomerate Godrej Industries, is one of the leading real estate developers in the country. It mainly focuses on the Delhi-NCR, Mumbai Metropolitan Regi

Investing in a green house? Evaluate local demand to ensure sound return

End users should assess whether their duration of stay justifies its higher upfront cost

PM to inaugurate biggest housing project for EWS in Maharashtra next month

Prime Minister Narendra Modi will be inaugurating the largest housing project for economically weaker sections at Solapur, in Maharashtra, next month, a senior government official said on Friday. The project at Raynagar in Solapur is spread over 100 acres and comprises 30,000 homes, of which 15,000 have already been built, Maharashtra's additional chief secretary Valsa Nair Singh said. "The biggest economically weaker section housing scheme is now in the final stages of being built at a place called Raynagar in Solapur. PM Modi is coming next month to inaugurate it," the bureaucrat said, addressing a summit organised by industry lobby Naredco. Every house is 300 sq ft and will be costing Rs 6 lakh for the beneficiaries, she said, adding that to be eligible, a family has to have an earning of less than Rs 3 lakh per year. The Maharashtra Housing and Area Development Authority (Mhada) is executing the project, which also has assistance from the central government's PMAY. According t

Kishan Reddy prevented by police from visiting T'gana housing project site

High drama prevailed here on Thursday as Union Minister and Telangana BJP president G Kishan Reddy along with other party leaders sat on the road after being stopped by police from proceeding to inspect a site of the BRS government's housing scheme for the poor. Kishan Reddy sat on the road in Outer Ring Road miffed at being prevented from heading to the housing site. "Am I a criminal? Am I a terrorist? I have a right to go anywhere in India," Kishan Reddy told Commissioner of Rachakonda Police D S Chauhan who tried to persuade the Union Minister and other leaders to vacate the place. Kishan Reddy was later physically lifted by police and taken away from the place to a vehicle. He had announced a plan to visit the state government's two bedroom housing site at Batasingaram here. Kishan Reddy had earlier condemned the "house arrest" of BJP leaders by police in view of the planned visit to the two bedroom housing site.

DLF awards Rs 369 cr contract to B L Kashyap in Gurugram housing project

Realty firm DLF has awarded Rs 369 crore contract to construction firm B L Kashyap in its luxury housing project at Gurugram, Haryana. In a regulatory filing, B L Kashyap and Sons Ltd informed that it has secured new order aggregating to about Rs 369 crore from DLF Home Developers Ltd, which is a subsidiary of DLF Ltd. The nature of contract is civil structure and waterproofing works for 'DLF The Arbour' housing project in Sector 63, Gurugram. The contract is to be executed within the next 33 months. B L Kashyap said its total order book as on date stands at Rs 3,086 crore (excluding GST till date). In March, DLF had said it would invest around Rs 3,500 crore over the next four years to construct this project, which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17).

Godrej Properties eyes strong growth on robust demand, new launches

The stock has gained 56 per cent over three months on consecutive quarters of high bookings

Ashiana Housing to invest Rs 275 cr to develop project for senior citizens

Realty firm Ashiana Housing will invest Rs 275 crore to develop a housing project in Pune for senior citizens. The Delhi-based company said in a statement that it has launched a joint venture project, Ashiana Amodh Senior Living at Talegaon in Pune. The project, spread over 11.93 acres, will be developed in four phases and will entail an investment of Rs 275 crore, it added. The project will be funded through internal accruals and construction finance. Ashiana Housing said the delivery of the first phase is scheduled for October 2026. The company is targeting customers aged 55 and above. In the first phase, 220 units will be developed and sold in a price range of Rs 57 lakh to to Rs 1.27 crore. The development of the first phase includes the land cost of Rs 25.11 crore, construction cost of Rs 52.38 crore, and other expenditures of Rs 16.36 crore. The total investment in the project would be Rs 275 crore, the company said. "Recognizing the shifting societal norms, the acceptan

Supertech to raise Rs 1,600 cr by July to complete 18 projects: Chairman

Realty firm Supertech Ltd plans to raise around Rs 1,600 crore from institutional investors by July to complete its 18 ongoing housing projects across Delhi-NCR, its Chairman RK Arora said. The company has signed a term sheet with investors to raise this interim funding, and due diligence is currently undergoing, Arora said, but did not share the name of the investors. "We recently got a nod from the Supreme Court to arrange for interim funding to complete ongoing projects and hand over the flats to existing customers. "We plan to raise around Rs 1,600 crore fund. Hopefully, we will be able to raise this amount by the end of July," he told PTI. Arora said there are 18 ongoing housing projects under Supertech Ltd, comprising around 50,000 apartments. "We need to give possession of 17,000 flats to our existing customers. We intend to hand over these flats over the next two years," he said. Further, he said that the company needs Rs 3,000 crore to complete the pending work in these

Plan in 2 weeks to resolve stuck up Noida housing projects: UP officer

A plan to resolve the logjam between stakeholders of group housing projects in Noida, Greater Noida is expected in two weeks, a senior Uttar Pradesh government officer said on Monday. According to officials, a meeting of Noida Authority, Greater Noida, bank representatives and real estate developers was held here on May 20 to discuss an action plan for "stuck up" housing projects in the region. During the meeting, some of the bankers also expressed their concern over the region's "declining feasibility" in terms of investment in future, an official, who attended the meeting, told PTI on condition of anonymity. "A lot of housing projects in Noida, Greater Noida have been stuck for a long time. Home buyers in many projects which have been delivered are awaiting registry of the homes for a long time," the official said. "The logjam largely is due to builders not clearing the dues that owe towards the local authorities because of which the whole process for registry of individual homes

Ganga Realty to invest Rs 750 cr to build affordable housing project

Real estate firm Ganga Realty will invest Rs 750 crore to build an affordable housing project in Gurugram. The company will develop 2,972 apartments in new project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh. "The company will spend Rs 750 crore to build an affordable housing project," Ganga Realty said in a statement. Vikas Garg, Joint Managing Director of Ganga Realty, said the total project cost is Rs 750 crore and this will be funded through internal accruals and customer advances. The project is expected to be delivered by the first quarter of 2027. Garg noted that Sohna is primarily an end user driven market. In affordable housing segment, realty firm Signature Global is a leading player in the Gurugram market. According to property consultant Anarock, sales of residential properties in Gurugram jumped over two-fold to 32,617 units during 2022 on higher demand across all price categories affordab

DLF to invest Rs 3,500 cr in next 4 yrs on housing project in Gurugram

Realty major DLF will invest around Rs 3,500 crore over the next four years to construct a new luxury housing project in Gurugram as its seeks to tap strong demand for residential properties. DLF will develop a new group housing project 'The Arbour', which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17). In an interview with PTI, DLF Ltd CEO Ashok Tyagi said, "We will develop around 4.5 lakh square feet area in this new project." Asked about the construction cost, he said it will be between Rs 7,000-8,000 per square feet given the amenities promised in this luxury project. Tyagi said the overall construction cost has shot up due to increase in prices of key materials like cement and steel. The total construction cost will be around Rs 3,500 crore over the next fou

Registration of housing property in Hyderabad dips 3% to 5,274 units in Feb

Registration of residential properties in Hyderabad fell 3 per cent to 5,274 units in February, according to property consultant Knight Frank India. The residential market includes four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The total value of properties registered stood at Rs 2,816 crore in February against Rs 2,837.7 crore in the year-ago period, Knight Frank said in a statement. At the district level, home sales registrations in the Medchal-Malkajgiri district were recorded at 43 per cent, followed by the Rangareddy district at 39 per cent. The share of Hyderabad district in total registrations was recorded at 15 per cent in February 2023. Registrations of residential units in the price band of Rs 2550 lakhs remained highest, constituting 51 per cent of the total registrations in February 2023. The share of demand in the less than Rs 25 lakhs ticket size stood at 18 per cent in February 2023 in line with the same period last year. "Greater

Mahindra Lifespace buys 4.25 acre land in B'luru to build housing project

Realty firm Mahindra Lifespace Developers Ltd on Friday said it has acquired 4.25 acre land in Bengaluru to develop a housing project and is expecting revenue of around Rs 400 crore from this property. The company expects to launch the first phase of the project within the calendar year 2023. In a regulatory filing, Mahindra Lifesapce, the real estate and infrastructure development arm of the Mahindra Group, informed that it has purchased 4.25 acres of land in Singasandra, South Bengaluru. The land is estimated to have a developable potential of around 4.6 lakh square feet of saleable area and a Gross Development Value (GDV) of about Rs 400 crore primarily comprising of premium residential apartments, it added. Arvind Subramanian, Managing Director & CEO of Mahindra Lifespace Developers, said, "Bengaluru is a key growth market for our residential business, and we are happy to add this new project to our portfolio." "This will be our third project in Bengaluru...This latest ...