Page 82 - Real Estate

Golden Growth Fund to raise Rs 400 cr to build realty projects in Delhi

Golden Growth Fund, which is a real estate focused Alternative Investment Fund (AIF), plans to raise Rs 400 crore from investors to buy land and develop real estate projects in the national capital. In a statement, Golden Growth Fund, a Category 2 AIF, said it has successfully secured Rs 25 crore in the first funding round, which concluded last month. "This initial capital infusion will be used to acquire a prime land parcel in South Delhi," it said. The acquisition is the first project under its strategic plan to develop high-end residential properties in the region. Grovy India Ltd, which has completed over 100 real estate developments in Delhi, will construct this project. "This first closing of the fund is a significant step forward in our mission to transform the luxury real estate landscape in Delhi. "Our commitment to acquiring and developing premium land parcels in South Delhi is now being realized, and we anticipate that our ongoing funding efforts will further solidify o

Delhi NCR drives 65% of luxury home sales this year, Gurugram leads

Over a quarter of the launches in the first half of 2024 in Delhi NCR were priced at Rs 5 crore and above

Bhive leases 77k sq ft Grade A office in Indiranagar at Rs 8.5 cr annually

The cutting-edge B+G+3 building is poised to offer high-end office amenities and is strategically positioned for connectivity

Awfis enters into biz transfer pact with SMS Integrated Facility Services

Furthermore, the transaction will be cash flow accretive, freeing up working capital and leading to an improved working capital cycle

Incuspaze takes on lease 325k sq ft office space in Bengaluru to expand biz

Coworking firm Incuspaze has taken on lease 3.25 lakh sq ft office space in Bengaluru to expand its business and cater to the rising demand for managed flexible workspace. The company has taken space in the QUBE Software Park, Outer Ring Road (ORR) Bengaluru. The new facility will have the capability to accommodate more than 5,000 seats. Last month, Incuspaze had taken on lease 1.56 lakh sq ft office space in Whitefield, Bengaluru. "Our expansion into this prestigious location is a testament to our commitment to providing top-tier workspaces in prime business environments. "Additionally, the availability of large land parcels and proximity to an established IT talent pool and residential hubs make the Outer Ring Road one of Bangalore's most attractive IT growth corridors," Incuspaze Managing Partner Sanjay Chatrath said. Incuspaze founder and CEO Sanjay Choudhary said, "This collaboration marks a significant step towards fostering innovation and creating a vibrant ecosystem for .

378 housing projects with 146,000 units stalled in 5 UP cities: PropEquity

Five major property markets in Uttar Pradesh, including Noida and Greater Noida, have 378 stalled housing projects, comprising nearly 1.46 lakh units, according to PropEquity. Real estate data analytic firm PropEquity data showed that as many as 378 housing projects comprising 1,45,880 units are stalled across Noida, Greater Noida, Ghaziabad, Lucknow and Agra in Uttar Pradesh. As per the data, Greater Noida has 167 stalled projects with 74,645 units. Noida has 103 stalled housing projects comprising 41,438 units, while Ghaziabad witnessing 50 stalled projects with 15,278 units. Noida, Greater Noida and Ghaziabad are important property markets in the Delhi-NCR. Lucknow -- the capital of Uttar Pradesh -- too has 48 stalled housing projects comprising 13,024 units. Agra property market has 10 stalled projects with only 1,495 units. Overall, PropEquity data showed that 1,981 residential projects are stalled across 42 cities, totalling 5.08 lakh units. Of these stalled projects, as

China property developer Country Garden makes PwC resign as auditor

PwC has been in focus over its role in auditing China Evergrande Group which was accused of a $78 billion fraud, triggering a client exodus, cost cuts and layoffs

CapitaLand Investment to double funds under management in India by 2028

Eyes private credit for real estate, renewable energy

Landmark Group to invest Rs 4,200 cr in 2 yrs for projects in Delhi-NCR

Realty firm Landmark Group will invest Rs 4,200 crore to develop a new housing and commercial project in Delhi-NCR as part of its expansion plan. In a statement, Gurugram-based Landmark Group said it is gearing up to expand its business portfolio with the robust project pipeline. "The company is investing Rs 4,200 crore in the next two years to launch a mix of projects in the luxury housing, retail, and commercial segments," it added. Landmark Group said its upcoming projects are located in micro-markets of Gurugram like Dwarka Expressway and New Gurugram. Sandeep Chhillar, Chairman & Founder of Landmark Group, said, "The real estate sector is flourishing and Gurugram's realty market growth has been impressive over the last couple of years." "Gurugram and its micro-markets continue to be the preferred investment destination for investors and buyers across residential, retail, and commercial segments. With our expansion plan, we aim to cater to the burgeoning demand in the region .

Max Estates shares rise over 3% on successfully raising Rs 800 cr from QIBs

Max Estates share price moved up after the company on Tuesday announced that it has successfully raised Rs 800 crore allotting equity shares to 25 qualified institutional buyers (QIBs)

Ajay Devgn leases out his office in Mumbai's Andheri for Rs 7 lakh a month

Devgn's office is situated in Signature Tower, and is developed by Lotus Developers.

Brigade Enterprises up 5% after launching Rs 1,500 crore QIP

Brigade Enterprises launched a Rs 1,500-QIP after market hours on Monday

Buy Macrotech & Sunteck; Hold Oberoi Realty & Godrej Prop, suggests Nuvama

The analysts believe that factors like healthy leverage, an increased focus on business development, and the potential for interest rate cuts will boost sales in the city.

Flex spaces record their highest contribution to office leasing in India

In the last five years, the total footprint of flex space operators in India has doubled owing to high demand as well as supply, according to Cushman & Wakefield

Omaxe Group to invest Rs 2,500 cr to build 50-acre complex in Delhi

Realty firm Omaxe Group will invest Rs 2,500 crore to develop a 50-acre commercial-cum-sports complex at Dwarka in the national capital to expand its business. In a statement, Omaxe said it has launched the commercial project 'The Omaxe State' comprising sports complex, retail area and a hotel. The company will build a cricket-cum-football stadium of global standards apart from indoor games facilities. Spanning over 50.4 acre in Dwarka Sector 19-B, the project is being developed in partnership with the Delhi Development Authority (DDA) under a public-private partnership (PPP) model, with an investment of over Rs 2,500 crore. "Delhi, the capital of India with a population of more than 3.3 crore, has long awaited a world-class cricket stadium," the company said. The project will feature a world-class, modern ICC and FIFA-standard international cricket-cum-football stadium with a seating capacity of over 30,000, as well as an international multi-sports indoor stadium that can accommo

Sajid Khan sells Juhu apartment for Rs 6 cr: Other bollywood realty deals

Bollywood actor Kartik Aaryan has rented out an apartment in Mumbai for Rs 4.5 lakh per month, according to property registration documents accessed by proptech platform Square Yards.

China home sales slump continues despite government's rescue efforts

The sector continues to be a drag on China's economy, which needs more stimulus to meet the government's 5 per cent growth target this year, according to reports

Godrej Properties tops among 21 realty cos with Q1 sales worth Rs 35k cr

India's 21 major listed real estate developers have together sold properties worth nearly Rs 35,000 crore during the latest June quarter with Godrej Properties reporting highest sale bookings. Except few, all major listed real estate developers have shown annual growth in sale bookings in the April-June quarter driven by strong consumer demand for residential properties, especially of luxury homes. According to the data compiled from regulatory filings, India's 21 major listed realty firms have reported combined sale bookings of Rs 34,927.5 crore in the first quarter of 2024-25 fiscal. Out of these combined sale bookings, bulk of pre-sales came from residential segment. In terms of sale bookings, Godrej Properties emerged as the largest listed player in the June quarter with pre-sales of Rs 8,637 crore. DLF Ltd, the country's largest realty firm in terms of market capitalisation, reported more than three-fold jump in its sale bookings at Rs 6,404 crore in the first quarter of this

How home brokers are gaining internet celebrity as real estate influencers

As a policy, everyone agrees it is wise to avoid collaborating with builders who have delayed projects for years

Property registration in Mumbai likely to rise 7% in Aug on strong demand

Registration of properties in Mumbai municipal region is likely to rise 7 per cent annually in August to around 11,650 units on strong demand, according to Knight Frank India. Citing Maharashtra government data, real estate consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) has recorded 11,631 property registrations so far in the month of August. The data is till 8.15 pm on Saturday, August 31 and the number is likely to increase slightly to around 11,650 units. In August 2023, the Mumbai city saw registration of 10,902 properties. The data pertains to registration of properties transacted in both primary (first sale) and secondary (resale) markets. The state government is expected to earn more than Rs 1,050 crore from the registration of these properties. "Sustained buyer confidence has resulted in consistent sales on monthly basis, exceeding 10,000 units for the first eight months of the year," the consultant said. Shishir Baijal, Chairman & ...