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 of the art commercial office space with over 6 mln […]

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 explore an investment by Reco Jade Ind Pvt Ltd, a […]

L&T wins orders from Mumbai Metro, PM Awas Yojana worth Rs 1,266 cr

Larsen & Toubro said it was awarded a Rs 928-cr contract by a government agency to construct 13,314 flats under the Prime Minister Awas Yojana Scheme. The flats, which¬†will take the shape of 284 towers with four floors each, will be constructed in various locations of Krishna District of Andhra Pradesh, it added. “The scope […]

Mahindra Lifespaces launches flats in Palghar for Rs 8 lakh

Mahindra Lifespaces announced the launch of its a new affordable housing project in the Mumbai suburb of Palghar with one-room-kitchen flats starting at just Rs 8 lakhs. The project, under Mahindra Lifespace’s Happinest brand, also offers 1 Bedroom-Hall-Kitchen and 2 BHK flats “amidst lush, green surroundings” costing up to Rs 24 lakhs. The flats are […]

HDFC ties up with Bangalore-based Prestige Estate for Rs 2,500-cr affordable housing venture

Housing Development Finance Corporation Ltd has tied up with Bangalore-based real estate player Prestige Estates to invest Rs 2,500 cr in affordable housing. The tie-up has been implemented through its subsidiary HDFC Capital Advisors Limited, which is the investment manager to HDFC Capital Affordable Real Estate Fund 1. The fund, which focuses on middle income […]

Godrej Properties continues fast expansion with 2 new projects in Bangalore, 1 in Noida

Godrej Properties, the Mumbai-based real estate developer, continued to strike deals with other players to develop their land parcels. The company announced three new projects, including two in Bangalore and one in NOIDA near Delhi. The Bangalore projects are in Devanahalli in the north and in Electronics City in the south, and both involve Godrej […]

Puravankara starts ‘initial public offer’ for upcoming Bangalore affordable housing project

Real estate developer Puravankara Ltd said it has started taking ‘expressions of interest’ from buyers for its upcoming ‘affordable’ housing project at Judicial Layout, Kanakapura Road, Bangalore. Provident Park Square is being taken to market through a quasi-book building method. Under this, price bands are announced for each type of property and interested buyers can […]

Dalmia Group, Nisus invest in Greater NOIDA real estate project

Fund manager Nisus Finance Services Co Pvt said it, along with a Dalmia Group’s Landmark Holdings, has invested Rs 50 Cr in Casa Royale & Sanskriti, a project by Noida based Earthcon Infracon projects at Sector-1, Greater Noida, Uttar Pradesh. Landmark Holdings is the real estate investment arm of the Dalmia Group, one of India’s […]

Indian Real Estate unsold inventory to fall this year – Fitch

Fitch Ratings said it expects a slight improvement in the finances of real estate companies in India and forecast increasing consolidation and a reduction in the massive unsold inventories on their books. “We expect the cash flow from operations of the rated Indian developers to continue to improve in 2018 on higher domestic presales in […]

Hiranandani offers guaranteed rental for Bangalore project for 2 years

As some consumers stay away from making big ticket investments into real estate, developer House of Hiranandani has come up with a ‘guaranteed rental’ scheme for those buying property at two of its towers at the Devanahalli township in Bengaluru. The company said that, depending on the size of the property, buyers could get up […]

Nila Infrastructures to construct 3,152 flats for Rajasthan government

Nila Infrastructures Limited said it got a contract worth Rs 107.3 cr from Jodhpur Development Authority to create 3,152 flats in Barli. The Company will also get 7.5 acres free of cost that can be sold or developed. The township, to be completed in four years, comprise 2,128 flats for economically weaker section at 325 […]

Indiabulls Real Estate on the mend post demonetization hit – Fitch

Fitch Ratings affirmed property developer Indiabulls Real Estate Limited’s Long-Term Foreign-Currency Issuer Default Rating at ‘B+’ with a ‘stable’ outlook, noting that conditions for the real estate developer are improving. “The Stable Outlook reflects the recovery in IBREL’s contracted sales following India’s currency demonetisation last year,” it said. However, it said it couldn’t upgrade the […]