Page 103 - Real Estate

Gopal Goswami and Ambrish Parajiya of GAP Group transforming real estate narratives in Dholera-SIR

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Godrej Properties buys land in Hyderabad for Rs 1,300 cr housing project

This is the company's second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs 4,800 crore

D B Realty raises Rs 920 crore by selling shares to institutional investors

D B Realty on Thursday said it has raised Rs 920 crore by selling shares to institutional investors, including Morgan Stanley Asia, to fund its real estate projects and strengthen balance sheet. The company launched its Qualified Institutional Placement (QIP) issue on March 7 and the issue was closed on March 13. In a regulatory filing, the company informed that the board of directors approved the issue and allotment of 3,56,66,675 equity shares to qualified institutional buyers at the issue price of Rs 258 per equity share, aggregating to Rs 920 crore. The issue price was 4.75 per cent lower than the floor price of Rs 270.87 per equity share. The funds raised through the QIP route will provide the company an additional growth capital for its real estate projects and also bolster the balance sheet. "The QIP received the requisite response from global and domestic investors. The successful completion of the QIP reflects strong long-term fundamentals and investor confidence in the .

Godrej Properties buys 3 acres in Hyderabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd on Thursday said it has bought around 3-acre land in Hyderabad to develop a housing project with an estimated revenue potential of Rs 1,300 crore. Last month, Godrej Properties forayed into the Hyderabad property market by purchasing 12.5-acre land for Rs 350 crore to develop a housing project having Rs 3,500 crore revenue potential. In a regulatory filing, the company said this is the second land acquisition in Hyderabad. The total development potential on this land is around 1.2 million (12 lakh) square feet of saleable area comprising primarily premium residential apartments. The company expects to generate revenue worth Rs 1,300 crore from this upcoming new project. Godrej Properties did not name the seller and also the deal value of this new land acquisition. Godrej Properties said that this strategic acquisition is in line with its strategy of developing high-quality residential projects across India's leading real estate markets. The land

Property leasing by luxury brands in India jumped 170% in 2023: Report

Consumer preference will 'reshape retail landscape' in the country, it says

Property leasing by luxury brands in India jumped 170% in 2023: Report

Consumer preference will 'reshape retail landscape' in the country, it says

Goldman Sachs to resume commercial property investment in US market

The underlying strength of the U.S. economy should support a rebound in the US market too, although he cautioned about the speed of a recovery

77% of investment in Indian real estate in 2019-23 by foreigners: Report

Global investors have 'consistently infused' average of $4 bn annually in the last five years, it says

Adani's Dharavi project to begin survey for rehabilitation of residents

The Dharavi Redevelopment Project -- a special purpose vehicle set up through a joint venture between the Adani Group and Maharashtra government -- on Monday said it will begin a survey next week to determine eligibility of the slum residents for their rehabilitation. Starting with Kamla Raman Nagar from March 18, the survey will collect data from lakhs of informal tenement residents, according to a statement. "The data will be used by the state government to determine their rehabilitation eligibility criteria under the proposed redevelopment project," it said. A specially developed app will be used to capture the data and every informal settlement will be given a unique number, which will be followed with laser mapping of each lane. Under the redevelopment plan, each tenement holder will be provided with a home and the year of occupying a given space will determine the location where the tenement holder will be rehabilitated. A project spokesperson urged all residents to support

Dwarka Expressway: Despite higher supply, realty prices to be in fast lane

The real estate developers and consultancies are of the view that despite a higher supply in the region, demand is likely to continue pushing realty prices up in coming years

Sebi mandates registration of index providers under regulatory fold

Mandates registration of index providers managing 'significant indices' based on securities listed in India

China says it will improve real estate sales in 'forceful', 'orderly' way

Some developers should be allowed to go bankrupt or restructured according to legal and market-based rules, Ni said told press conference on sidelines of the annual meeting of parliament in Beijing

Signature Global to invest Rs 2,200 crore to develop housing project

Realty firm Signature Global will invest Rs 2,200 crore over the next five years to develop a new luxury housing project in Gurugram as part of its expansion plan amid strong consumer demand, its Chairman Pradeep Aggarwal said. "We have launched a new housing project in Sector 37D, Gurugram on Dwarka Expressway. The total units will be 1,008 in the project," he said. The company has already sold the entire 1,008 luxury flats for over Rs 3,600 crore, reflecting strong consumer demand despite the price rise. Aggarwal said the company received 5,400 EoIs (Expressions of Interest) from customers in this new 16.5-acre housing project 'DE LUXE-DXP'. Asked about the project cost, Aggarwal said the company would invest around Rs 2,200 crore to develop this project. The investments will be funded through internal accruals and advances from customers against sale bookings. He said the company would deliver this new housing project in 2028. With sales of Rs 3,600 crore in this new project,

Delhi HC denies default bail to Supertech chairman in money laundering case

The Delhi High Court has dismissed a plea by R K Arora, the chairman and promoter of real estate major Supertech Group, seeking default bail in a money laundering case. The high court rejected Arora's contention that on the date of filing of the prosecution complaint (charge sheet) the investigation was incomplete as the chargesheet was not accompanied by FSL report and the Enforcement Directorate (ED) had issued summons to another person in the case after filing the prosecution complaint. The respondent (ED) has already submitted the requisite documents for obtaining expert opinion from the Forensic Science Laboratory (FSL). Preparation of the FSL report is not in the control of the investigating agency, though it can take steps for expediting the process. It is the categorical stand of the respondent that the investigation against the present petitioner is complete. Mere issuance of summons to another person or seeking leave of the court to file additional evidence, without there

Macrotech Developers raises Rs 3,300 crore capital through QIP route

Realty firm Macrotech Developers Ltd on Thursday said it has raised Rs 3,300 crore by selling shares to institutional investors. In a statement, the company said it has successfully closed the Qualified Institutional Placement (QIP). The QIP was oversubscribed nearly 3 times within 5 hours of issue opening and witnessed traction from a diversified set of investors with a long-term outlook, including sovereign funds, pension funds, insurers etc. This is the fourth equity raise by Macrotech Developers in the last 36 months and the company has raised over Rs 13,000 crore. The entire book was allocated to marquee global investors. Existing shareholders of the company such as Capital Group, GQG, Nomura, ADIA, and HDFC Life reaffirmed their faith in the company by enhancing their investment through this QIP, the statement said. The institutional placement also saw new marquee investors like Invesco Oppenheimer, Blackrock, Carmignac, Franklin Templeton, Norges, Lazard, APG and RWC etc.

Watch: What will the average salary hike be in 2024

According to the "Future of Pay 2024" report, the highest salary hikes are expected to be seen in e-commerce, financial services, professional services, and real estate. Watch the video to know more

Godrej Properties buys plots with Rs 20K cr revenue potential this fiscal

To expand business amid strong housing demand, realty firm Godrej Properties Ltd has acquired multiple land parcels so far this fiscal that have the potential to generate revenue of around Rs 20,000 crore. Godrej Properties has surpassed the guidance for the 2023-24 fiscal to achieve Rs 15,000 crore worth new business development, which means adding land parcels through outright purchases and partnerships with landowners. With the acquisition of two land parcels earlier this week, Godrej Properties Managing Director and CEO Gaurav Pandey said the company has already achieved the annual guidance of new business development of Rs 15,000 crore. "We added new projects worth Rs 8,425 crore in the first nine months of this fiscal," Pandey said. In the current quarter, the company has done two outright land purchases in Hyderabad and Noida, while entering into a joint venture in Bengaluru. These three new acquisitions will help generate cumulative revenue of around Rs 11,500 crore, takin

From Settl. to Colive, co-living startups find room to double capacity

Co-living operators such as Settl., Aurum PropTech, and Colive are raising funds from investors to expand their businesses

Blackstone's giant real estate arm wants to double warehouses in India

Blackstone's real estate trust for wealthy individuals just resumed allowing customers to pull money without constraints after limiting withdrawals for about 15 months to avoid forced selling

Despite high prices, more Indians want to buy a 3 BHK home: FICCI-Anarock

This is despite the fact that 55% of Indians believe their disposable income had been 'majorly' impacted by inflation