Page 59 - Real Estate

Akshay Kumar sells Mumbai apartment in Borivali East for Rs 4.35 crore

The 1,073 sq ft apartment was bought in November 2017 for Rs 2.37 crore

DLF to invest Rs 6K cr to construct office, retail spaces in Gurugram

Realty firm DLF's rental arm will invest around Rs 6,000 crore to construct 75 lakh square feet of prime office and retail spaces in Gurugram to tap demand for top-quality green commercial properties. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF and Singapore's sovereign wealth fund GIC. DLF holds nearly 67 per cent stake in the JV firm. In its latest investors presentation for the third quarter of this fiscal, DLF informed that its rental arm DCCDL has commenced construction of 5.5 million (55 lakh) square feet of Grade A plus office spaces in the new phase of its ultra-premium commercial project 'DLF Downtown, Gurugram'. Besides, DCCDL has also commenced construction of DLF Mall of India, Gurugram, with a total area of 20 lakh square feet. Already, 3.7 million (37 lakh) square feet area has been completed so far. According to sources, the total investment in the construction of this office complex and a shopping mall would be around Rs 6,000 crore. The

South City Mall-Blackstone deal speculative, no urgency: Consortium partner

A major shareholder of South City Projects, the consortium behind Kolkata's iconic South City Mall, has downplayed recent reports of a potential USD 400 million deal with alternative asset manager Blackstone, describing it as "speculative". South City Projects is a consortium of prominent real estate developers like Merlin Group, Sureka Group, Emami Group, Park Chambers Group, and Shrachi Group. South City Mall is its flagship project. "It has been receiving offers from various funds, including Blackstone, Brookfield, Canadian Pension Fund, and Singapore's Temasek since 2020," a significant consortium partner who wished not to be quoted told PTI. "We have not approached anyone. Offers poured in from various funds and we have been evaluating those as part of our normal business practice. But it would be incorrect to assume that South City Projects is under any urgency to clinch a deal or that the company is in unmanageable debt," the consortium partner said. The shareholder emphasis

Women shatter glass ceiling, increase investments in real estate market

Despite their progress, women investors like Sabbarwal, Somani and Kripalani face significant challenges in real estate

Women homebuyers on the rise: 1.3 lakh registered residential deals in 2024

In contrast, transactions by sole male buyers rose by 11%, from 1.96 lakh to 2.18 lakh. Joint ownership (male + female) transactions declined by 7% during the same period

Omaxe to invest Rs 2,700 cr to modernise 6 bus terminals in Uttar Pradesh

Real estate firm Omaxe Ltd's subsidiary will invest Rs 2,700 crore to upgrade six bus terminals in Uttar Pradesh. In a regulatory filing on Friday, Omaxe said that Uttar Pradesh State Road Transport Corporation (UPSRTC) has awarded it a contract to modernise six key bus terminals in the State Ghaziabad, Lucknow (Gomti Nagar), Prayagraj, Kaushambi, Ayodhya and Lucknow (Amausi) under public-private partnership (PPP) model. Omaxe will undertake the modernisation of bus terminals through its newly established wholly-owned subsidiary 'BeTogether'. These projects aim to enhance public transport infrastructure in Uttar Pradesh while integrating state-of-the-art commercial spaces. "With a total investment of around Rs 2,700 crore, these projects are expected to generate over Rs 4,700 crore in revenue," Omaxe said. The total saleable area across the projects is 45.59 lakh sq ft and the combined built-up area for the six projects stands at 70.80 lakh sq ft. The modernisation of the six bu

Here's why Brigade Enterprises share price jumped 4% in trade on March 7

The surge in Brigade Enterprises share came after the company launched a residential project 'Brigade Altius' in Chennai with a revenue potential of Rs 1,700 crore

BPTP Group logs Rs 1,500 crore bookings on Day 1 of Gurugram luxury project

Co seeks to earn Rs 6,500 crore in revenue from the residential project located along Dwarka Expressway

42% of 4.6 lakh homes sold in top Indian cities were fresh launches in 2024

Bengaluru & Chennai saw highest new supply absorption share in 2024 - 53% each out of approx. 65,230 units (Bengaluru) & 19,220 units (Chennai)

'Will track them from depths of hell', UP CM invokes Ansal to slam SP

Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday launched a scathing attack on the Samajwadi Party, accusing it of favouring builders like Ansal API during its tenure. Speaking during a discussion on Budget in the state assembly, Adityanath also reassured homebuyers, saying no one should think they can escape after taking money from the common man and the poor. "Our government will track down such individuals even from the depths of hell," the chief minister said. While memorandums of understanding (MoUs) were signed in the past, their real value lies in implementation, which did not happen under previous governments, Adityanath claimed. Stating that every such case is being closely monitored, Adityanath said, "We saw an example of this today, and I have ordered an FIR against it. Ansal was your (SP's) creation. It was under your government that all its illegal activities were facilitated, deceiving investors and homebuyers." "This was done during the Samajwadi Party's rule

MS Dhoni's family office invests in real estate firm platform SILA

Real estate services firm SILA on Tuesday said it has received a strategic investment from Mahendra Singh Dhoni family office. The company did not disclose the amount invested. Founded in 2010 by Rushabh and Sahil Vora, SILA, backed by Norwest Venture Partners, is into facility management and real estate advisory services across India. SILA manages over 200 million square feet of real estate across 125+ cities in India, with over 25,000 employees. "SILA is a dynamic real estate platform that has stood out in a highly competitive industry. Their ability to scale rapidly while maintaining a strong culture and sharp execution sets them apart," MS Dhoni family office said. SILA said the investment will help accelerate growth, further strengthening its network and expanding its presence across India's evolving real estate landscape.

Cluster redevelopment in Mumbai races against time amid red tape

While the Maharashtra government has been promoting the scheme since 2018, it recently called for an audit of 13,000 cessed buildings in the Mumbai Metropolitan Region to ensure timely redevelopment

Compare sale prices across payment plans to evaluate cost-effectiveness

If a developer offers a deferred payment plan but hikes the sale price, that would make the plan less advantageous

Mumbai gets ₹896 cr as stamp duty from 11,500 property registrations in Feb

STRAP City property registrations have consistently remained above 10,000, significantly higher than pre-pandemic levels

Hrithik Roshan rents out Pune office space for Rs 6 lakh/ month for 4 years

The property, located on the 8th floor of the World Trade Centre, spans 9,209 square feet, offering ample room for commercial use.

Adhere to March 2017 agreement: Mother Manju Lodha to Lodha brothers

The billionaire Lodha brothers are in a legal dispute over the use of the "Lodha" trademark and division of family assets

TVS Emerald buys 10-acre land in Bengaluru, boosts FY25 revenue potential

With this acquisition, TVS Emerald has added land deals with a revenue potential of Rs 5,300 crore to its portfolio in FY25

'31% women buy homes for investment, only 2% prefer stocks, 12% pick gold'

Over 52% women favour premium & luxury homes priced >Rs 90 lakh

Signature Global targets zero net debt by FY26 on strong sales: Chairman

Realty firm Signature Global is targeting to achieve zero net debt during the next fiscal year on healthy internal cash flow supported by strong consumer demand for its residential projects in Gurugram. The company has reduced its net debt in the October-December quarter to Rs 740 crore, from Rs 1,020 crore at the end of the second quarter of this fiscal year. "We will achieve zero net debt during the next financial year," Signature Global Chairman Pradeep Kumar Aggarwal told PTI. He said the company has reduced its net debt significantly and would continue to do so. Signature Global net debt stood at Rs 1,160 crore at the end of the 2023-24 financial year. Aggarwal said the housing demand continues to be robust in Gurugram although he agreed that the "frenzy" witnessed during the past few years has subsided to some extent. He said the company would focus on a price bracket of Rs 2-5 crore per unit. "In this price bracket there is a huge demand but limited supply." On an operati

One month left to deadline, DDA manages to sell only 26.5% housing units

Under Sabka Ghar Awaas Yojana, homes were offered at a 25 per cent discount to specific groups, including women, war widows, autorickshaw drivers, and street vendors