Page 8 - Real Estate Developers

Mahindra Lifespace buys 5.38 acre land in Pune to build realty project

Realty firm Mahindra Lifespace Developers Ltd has acquired 5.38 acre land at Wagholi in Pune to develop a real estate project. The land is estimated to have a development potential of over 1.5 million square feet of saleable area, the company said in a regulatory filing on Thursday. Mahindra Lifespace did not disclose the deal value and name of the seller. "Wagholi is a high potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed. "The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting robust social amenities and civic infrastructure," Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd, said. This land acquisition is aligned with the company's strategy to further solidify its presence in the city's pivotal micro-markets, he added. Mahindra Lifespace Developers is one of the leading real estate firms in the country.

India house prices on track for steady rises, affordability to worsen

The outlook was more upbeat and stable compared with companion polls of property markets in developed economies, where house prices are expected to fall or stagnate after surging as much as 50%

Mindspace Business Park REIT appoints Ramesh Nair as new CEO from September

Mindspace Business Park REIT has appointed Ramesh Nair as its new Chief Executive Officer with effect from September 1. Nair, who has experience of more than two decades in real estate sector, was earlier CEO of real estate consultant Colliers India. Before that, Nair was CEO & Country Head at JLL India where he worked for over 21 years. The Board of Directors of K Raheja Corp Investment Managers Pvt Ltd, manager to Mindspace Business Parks REIT, noted the resignation of Vinod Rohira, the current CEO, with effect from August 31, 2023. It also approved the appointment of Nair as the CEO with effect from September 1, 2023, according to a regulatory filing on Monday. The board approved the appointment of Rohira as the additional (non-executive, nonindependent) director on the board of the Mindspace REIT. Rohira will also have a larger role within the K Raheja group as Managing Director and CEO Commercial Real Estate, K Raheja Corp. He will also be on the board of the residential ..

Nifty Realty gains 2% in weak market; Prestige Estates, DLF soar up to 9%

Including today's gains, the Nifty Realty index has surged 7 per cent this week as against 0.3 per cent fall in the benchmark indices

Residential sales between January and June touched 15-year-high: JLL report

The highest residential sales were recorded in Bengaluru followed by Mumbai and Pune

Consumer Forum asks Raheja Developers to pay full deposit with compensation

The forum ordered that the complainant be refunded Rs 28,68,483 with 9% interest per annum from the date of deposit and along with a compensation of Rs 1 lakh and Rs 55,000 as litigation expenses

Sebi to auction Arise Bhoomi Developers' assets to recover investors' money

Capital markets regulator Sebi on Tuesday said it will auction 11 properties of Arise Bhoomi Developers and its directors on July 14 for a reserve price of over Rs 43 crore to recover investors' money. The properties that have been put on sale include land parcels, a shop and a plot, located in Uttar Pradesh and Maharashtra, the Securities and Exchange Board of India (Sebi) said in a notice. Arise Bhoomi Developers mobilised over Rs 8 crore during 2013-14 from the public in the name of the 'purchase of agricultural land' through its various investment schemes, promising them an expected sum at the end of the contract. The schemes, as per Sebi, qualified to be a CIS (collective investment scheme), which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining the necessary approvals from the regulator. Inviting bids, Sebi said it will auction the properties belonging to the company and its directors through an online mode on Ju

ATS HomeKraft says Rs 600 crore investment in pipeline for various projects

Real estate developer ATS HomeKraft said it has investments worth Rs 600 crore in the pipeline for various projects. The company has recently delivered a project in Greater Noida, West (Noida Extension), while three more projects are expected to be completed in NCR this year, according to ATS HomeKraft CEO Mohit Arora. "Currently, we have 10 projects and we are an HDFC equity company. They hold 20 per cent equity in our company and they are also the capital providers for ATS. Rs 600 crore investment is in pipeline by ATS Homekraft," Arora told PTI. He said, "Of these projects, two are in Noida, one in Noida Extension, three in Ghaziabad, one in Delhi's Rohini, two in Gurugram's Sohna, and one in Mumbai." The real estate company has just delivered its group housing project 'Happy Trails' in Noida Extension, two years ahead of the scheduled delivery, he said, and claimed, nearly half of the units have been handed over to the flat buyers and no dues towards the Uttar Pradesh governmen

Allcargo Logistics arm to sell stake in logistics parks to Blackstone

"This transaction will result in significant cash proceeds and provide for growth plans of the company, formerly known as Transindia Realty & Logistics Parks Limited," it said

Govt considering registration of flats even if developers go bankrupt

If this move sees daylight, it is expected to relieve thousands of homebuyers living with the scary thought of all their money going down the drain if in case their developer goes bankrupt

M3M eyes Rs 600 cr sales from phase-1 of City of Dreams project at Panipat

Phase-1 includes 900 plots of 140-180 square yards; Of these, 436 plots have already been sold for Rs 250 crore

Realtors buy 2,181 acre land since Jan 2022 for about Rs 26,000 cr: Report

Real estate developers have acquired nearly 2,200-acre land parcels since January last year for around Rs 26,000 crore, mainly to develop residential projects, according to JLL India. In a statement, real estate consultant JLL India said that the developers have acquired around 2,181, acres of land area in the last 17 months (January 2022-May 2023) valued at over Rs 26,000 crore, with an estimated development potential of around 209 million square feet in 104 separate land deals. Out of 2,181 acres, JLL said around 578 acres (27 per cent) of the land was acquired in the first five months of 2023 alone. Branded developers have successfully closed many land transactions in top metros as well as tier 2-3 cities, driven by the resilience shown by the real estate sector. Delhi-NCR, Chennai, Mumbai Metropolitan Region (MMR) and Bengaluru lead in terms of total land area transacted accounting for 72 per cent share (around 1,576 acres), having a development potential of around 150 million

87 real estate deals signed for 1862 acres of land in FY23 across India

Although the number of deals went up around 50% but the increase in terms of area didn't go up proportionally, which means developers are making large number of deals with smaller area

Avighna Group to invest Rs 1,000 crore to develop towers in Mumbai

The two projects will be funded through internal accruals, without seeking any external borrowings or institutional funding, the company said in a statement

Realtors closed 87 land deals totalling 1,862 acre in FY23: Anarock

Real estate developers remained active on land acquisition for future development and they closed at least 87 land deals totalling 1,862 acres during the last fiscal year, according to Anarock. During the previous year 2021-22, real estate consultant Anarock noted that 44 land deals accounting for about 1,649 acres were closed across various cities. Anarock Chairman Anuj Puri noted that size of the deals were smaller in the 2022-23 fiscal as compared to the previous year. Of all deals closed in FY23, at least 76 accounting for about 1,059 acres were in seven major cities, and the remaining 11 deals accounting for 803 acres took place in Tier 2 and 3 cities including Ahmedabad, Kurukshetra, Lucknow, Nagpur, Panchkula, Panipat, Raigad and Surat. Among the top seven cities, Mumbai Metropolitan Region (MMR) saw the maximum 25 land deals accounting for over 267 acres, followed by Delhi-NCR with 23 land deals totalling 274 acres. In terms of total land transacted, Chennai saw maximum at

Real estate demand firm, retail leasing up by 130% YoY: CBRE Report

High-ticket projects that cost Rs 1.5 crore or more would continue to see high-demand. The impact of rising home loan interest rates is likely to be limited

Macrotech Developers to invest Rs 4,500 cr in FY23 on real estate projects

Macrotech Developers Ltd will invest Rs 4,500 crore this fiscal year on construction of real estate projects as it seeks to ramp up execution capabilities amid strong housing demand. Mumbai-headquartered Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha noted that the demand for residential properties continues to be strong despite increase in mortgage rates as well as housing prices. Its sales bookings grew 34 per cent in 2022-23 to Rs 12,014 crore and it has set a target of 20 per cent growth to Rs 14,500 crore in the current financial year, he highlighted. Lodha noted that the company generated Rs 4,600 crore worth of net operating cash flow surplus which reflects its strength to convert land into real estate products, and then building as well as selling it in a timely manner. The surplus cash flow was used for investment on la

Sunteck Realty sales bookings jump 23% at Rs 1,602 crore in FY23

The firm's sales bookings stood at Rs 537 crore in the fourth quarter of the last financial year (Q4 FY23), up 36 per cent on QoQ basis

Gurugram-based realty developer M3M India eyes Rs 20,000 cr sales in FY24

The company claims it has sold 10 mn sq ft of space in FY23, about 81% beyond the FY22 figure of 5.5 mn sq ft. It aims to sell 14-15 mn sq ft in FY24

Realtors worried about likelihood of another repo rate hike by RBI

Borrowing costs for both developers and homebuyers will rise, leading to higher housing prices on the one hand, and diminished demand from buyers on the other