Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]
Pune-based real estate developer Kolte-Patil Developers Ltd has introduced its second Group CEO in three months in the form of Rahul Talele, currently Business Head for Pune. It was on June 12 this year that the company had appointed Yashvardhan Patil as its Group CEO. At the time, Kolte Patil Chairman & MD Rajesh Patil […]
Sunteck Realty reported a sequential decline in its collections for the first quarter of FY22 compared to the immediately preceding fourth quarter of FY21, as COVID-19 curtailed new launches. Nevertheless, collections were far better than the year-ago numbers. Collections refer to the actual cash that the company collects from its buyers. Total collections for the […]
Puravankara Ltd, the biggest residential real estate brand in Bangalore, said it is making changes to its apartment designs to attract work-from-home customers, but believes that employees will shift back to the work-from-office model in another 12-18 months. STRONG DEMAND The company has been seeing strong demand for its residential flats, as buyers increasingly prefer […]
Sobha Ltd, one of India’s largest real estate developers, said it will build a ‘Manhattan-like’ mini city at Yadavanahalli, which lies between Electronics City and Hosur towards the south east of Bangalore. Despite its somewhat removed location, the project is targeted at the well-to-do, with the three-bedroom flats costing upwards of Rs 90 lakh. Chairman […]
Finally, here is a piece of good news if you are in an investor in the real estate sector: Arihant Superstructures, one of the most prominent residential developers in the Mumbai region, sold a whopping 250 residential flats during the month of April and May — which coincided with the peak of the second wave […]
Prestige Estates Projects, which operates some of India’s top malls such as Bangalore’s Forum Mall, said retail spending has recovered to around 70-80% of normal levels, though it may take several months for it to fully normalize. “The malls should be back in the next six months, they should stabilize fully. Hospitality should take a […]
Godrej Properties, arguably the healthiest and fastest growing of the major Indian real estate companies, today said it has agree to purchase a 20 acre project in Kalyan near Mumbai for a residential project. “This project will offer approximately 139,000 square meters (1.5 million square feet) of saleable area comprising primarily of residential apartments of […]
Prestige Estates Projects Ltd, which operates nine malls including The Forum Mall in Bangalore, said footfalls are down 75%-80% at malls due to the COVID-19 pandemic. Speaking to investors after detailing the company’s June quarter results last week, company officials also said they were seeing signs of stress among customers of residential properties, even though […]
Godrej Properties, the fastest growing of India’s real estate majors, saw a surge of NRI (non-resident Indian) customers as well as a huge pick-up online sales during the COVID-19 lock-down. Despite a harsh lock-down in place in India during most of the Apr-Jun quarter, the company managed to sell a whopping 2,130 homes during the […]
In one of the biggest real estate deals post the lock-down India’s leading luxury developer, Sunteck Realty acquired a 50-acre property in the North Mumbai suburb of Vasai West. The company did not disclose the cost of the acquisition, but given the location and the size of the property, the deal is likely to be […]
Mumbai-based real estate developer Godrej Properties said it has acquired 43.61 hectares of land in Faridabad from real estate major BPTP for development. Financial details of the transaction were not announced. The plot will be home to Godrej Properties’ first development in Faridabad — a residential project with 95,000 square meters, or 1 million square […]
Godrej Properties said it will develop a 3-acre plot in Chandivali, near Powai, Mumbai. The plot was reportedly acquired for Rs 153 from DIC India, one of the oldest ink manufacturers in India, though Godrej did not confirm the name of the seller. “This project will offer 41,800 square meters (0.45 million square feet) of […]
Even as many realty developers struggle to move their stock, Sunteck Realty Ltd has sold over 1,600 apartments at its MaxXWorld township in Naigaon in just two weeks. The MaxXWorld project, which offers homes with 1 to 3 bedrooms, are priced in the range of Rs 30 lakhs to 55 lakhs. The average price of […]
Real estate developer Godrej Properties has opened booking for its first flats in RK Studio, the 2.2-acre film studio established over six decades ago by legendary actor Raj Kapoorj. The Vikhroli, Mumbai-based developer had purchased the studio property for an undisclosed amount in May this year and announced plans to put up 3.5 lakh square […]
PNB Housing, the housing finance company in which the US-based Carlyle Group and Punjab National Bank own around 32% each, has clarified that its total exposure to real estate firm Omaxe Ltd was less than Rs 635 cr. The clarification came on the heels of social media reports that Omaxe Ltd was in some sort […]
Almost 1 cr city-dwellers in India have been sanctioned around Rs 1.5 lakh each under the flagship PM Housing Scheme or PMAY for urban dwellers, with Andhra Pradesh emerging the clear winner in the implementation of the scheme. On average, the single beneficiary was allocated Rs 1.57 lakh. PMAY or PM Awaz Yojana (Housing Scheme) […]
Brigade Group, one of India’s leading Real Estate Developers, has tied up with Swedish furniture maker IKEA to offer pre-furnished homes in India. “Brigade has set up multiple model apartments showcasing IKEA furnishing options in the home-front including Living/Dining rooms, bedrooms including children’s rooms, kitchens, and bathrooms. “Potential buyers or existing customers can visit these […]
Godrej Properties, one of the few real estate companies that have taken the market slowdown in its stride, reported better profits for the quarter ended September even as sales fell sharply. The company’s profit before tax zoomed to Rs 72.88 cr from Rs 3.56 cr for the same quarter last year, despite revenue from its […]
Even as the real estate market in the country faces uncertainties due to an overall slowdown in the economy, housing sales fell 17% in the top 7 cities of India in value terms during the Jul-Sep quarter, according to Anarock Consultants. Of the three quarters of 2019, Q3 saw the worst overall sales performance. The […]
