Eveready Industries, one of India’s largest battery makers, said it has signed an agreement to sell its plot on Tiruvottiyur Road in Chennai to local real estate developer Olympia Group for Rs 100 cr. The agreement, said the battery maker, was executed yesterday with Olympia...
REAL ESTATE
Brigade Group announces 412 new flats at Meadows on Kanakapura Road
Brigade Group, one of Bangalore’s top two real estate companies, announced the launch of the last expansion of Brigade Meadows, an integrated township spread over 60 acres of land on Kanakapura Road in India’s IT capital. Brigade Meadows is already home to over 2,000 families,...
Godrej Properties to develop Hero Cycles’ 4-acre plot in Gurgaon
Godrej Fund Management and Godrej Properties said they have entered into a joint venture agreement with Hero Cycles, which belongs to the same group as Hero MotoCorp, to develop an office complex at the cycle manufacturer’s four-acre property in Gurgaon. The ‘prime office property’ will...
Brigade Enterprises launches apartment complex on Bangalore Airport road
Brigade Enterprises, one of the top real estate players in Bangalore, announced its plans to set up Brigade Bricklane, a low-rise apartment project at Jakkur in North Bangalore. The flats will be priced at Rs 33 lakhs and above and will be constructed with lots...
Sunteck Realty sells 2,000 out 2,476 flats at West World, Naigaon
In yet another indication that the real estate market is starting to revive, Sunteck Realty, a Mumbai-based real estate developer, announced that it has sold 2,000 out of the 2,476 flats in its upcoming West World project in Naigaon near Mumbai. It said the sales...
Maharashtra prepares mega Dharavi redevelopment plan
The Maharashtra cabinet has today given approval for the redevelopment of Asia’s largest slum, Dharavi, at a cost of around Rs 20,000 cr. The latest plan involves the creation of 70,000 flats over an area of 200 acres, including 50 acres that has to be...
Govt denies favoring real estate developers in NOIDA tussle
The Union urban development ministry today countered allegations that the government was trying to extend favors to real estate developers in NOIDA in the name of helping flat-buyers. The NOIDA and Greater NOIDA areas adjoining Delhi have seen many developers run into severe financial difficulties...
Kolte Patil sells 500 flats in 40 days in new Pune project
Pune-basedKolte-Patil Developers said it has sold 500 units in its new project, ORO Avenue. The project, which was launched last month, has seen bookings worth Rs 186 cr. The figure works out to an average of Rs 37.2 lakh. “When compared to other projects recently...
GIC buys stake in Provenance’s Four Seasons project in Worli
GIC, Singapore’s sovereign wealth fund, is acquiring a “significant minority stake” in Provenance Land, said the developer that partners with Canada’s Four Seasons Hotels to run the Four Seasons Hotel in Mumbai. The investment will be in an entity that owns the property on which...
Indian real estate shows steady improvement, sales up 24% in 3 months
India’s real estate sector is witnessing a healthy turnaround with rising sales and declining inventory, numbers from Anarock Property Consultants revealed. According to the market tracker, there has been a 24% jump in real estate unit sales in the latest quarter (April-June 2018) compared...
Phoenix Mills buys Indore mall for Rs 234 cr
Mall developer The Phoenix Mills Ltd said it purchased an under-construction 1.1 mln sq ft mall in Indore from an asset reconstruction company for Rs 234 cr. The Mumbai-based company said it will christen the mall Phonenix MarketCity Indore and it will be ready by...
K Raheja Corp launches Hyderabad flats starting at Rs 40 lakh
K Raheja Corp, one of India’s biggest real estate developers, announced the launch of the fourth tower of its Raheja Vistas project in Nacharam in Hyderabad East. The tower will have 12 storeys and offer 2- and 3-bedroom flats starting at Rs 40 lakh each....
DB Realty wins case involving 244 acres next to Mira Road railway station in Mumbai
DB Realty Ltd said a civil judge in Thane has dismissed a petition by the central government that disputed the company’s ownership of 244 acres of land next to the Mira Road railway station in Mumbai, one of the fastest growing suburbs of the city....
Real Estate player Sobha enters Gujarat with 500-cr GIFT project
Bangalore-based real estate player Sobha Ltd said it will enter the Gujarat market with a Rs 500-cr residential project in GIFT City in Ahmedabad. The project will have about 1,000 apartments that to support the ‘walk to work’ concept underlying the smart city, the company...
Oberoi Realty Group places two more orders with Capacit’e Infraprojects
Construction company Capacit’e Infraprojects said it won two orders from Mumbai-based Oberoi Realty Group for a total of Rs 365 cr. The first is for the construction of a residential “rehab and sale tower” at Tardeo in South Mumbai. The order was obtained from group...
Real Estate 2017: Hyderabad best market, Bangalore overtakes Delhi
A new report by Anarock Consultants says that sales of residential real estate units, mostly apartments, fell 15% in 2017 to about 2.05 lakh in India’s top seven cities. The report also showed that Banglaore has for the first time overtaken the National Capital Region as...
Godrej Properties taps Fund Management to co-develop Godrej Two tower
Godrej Properties Ltd said Godrej Fund Management will invest into its ‘Godrej Two’ commercial building project in Vikhroli. Godrej Fund Management was set up by the real estate company three years ago primarily with the purpose of raising funds for its real estate projects. It...
Puravankara announces Rs 1,000 cr ‘premium affordable’ project in Goa
Bangalore-based real estate player Puravankara Ltd said it will invest Rs 500 cr to develop a 32 acre project near Dabolim in Central Goa. The company expects to generate sales of close to Rs 1,000 cr over the next five years from the project, Puravankara...
Prestige Estates buys office plot on Sarjapur Road for Rs 336 cr
Prestige Estates, arguably the biggest developer of office buildings in Bangalore, said it will pay Rs 336 cr to get 80% of a company that owns 59 acres of land on Outer Ring Road at Sarjapur in Bangalore. “The company intends to develop a state...
Singapore’s GIC Realty looking to invest in Prestige Estates’ office business
Bangalore-based real estate player Prestige Estates Projects said Singapore-based GIC Realty Pte Ltd, the country’s sovereign wealth fund, has signed a term sheet to explore the possibility of acquiring a ‘significant minority’ stake in the Indian company’s commercial buildings business. The term sheet is to...