Prestige Group, one of Bangalore’s largest real estate developers, said it has inaugurated its Forum Center City Mall in Mysore. The company operates the Forum Mall in Bangalore, one of the city’s oldest and most prominent. The Forum Center in Mysore has 3.2 lakh square feet of leasable area and is situated on Hyder Ali […]
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 […]
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 […]
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 […]
Real estate major DLF reported a sharp decline in its revenue and profit for the July-September quarter after it stopped taking new bookings due to the implementation of RERA in May. The company’s net profit fell by 94% to Rs 12.57 cr in July-September quarter from Rs 204.60 cr a year ago. Even in the […]
Godrej Properties, one of the few big real estate giants that weathered the slow down in the market over the last three years well, has reported strong numbers for its second quarter. Revenue from operations jumped 49% to 492 cr, while net profit rose by 91% to 44 cr. Both revenue and profit more or […]
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 […]
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 […]
Piramal Enterprises Limited said it will invest Rs 280 crore in Puranik Builders’ “Puranik City Reserva” project in Thane. The investment, routed through Piramel Finance, will be modeled on the ‘financial partnership’ model, it said. Puranik City Reserva is a theme-based ongoing project at Ghodbunder Road in Thane and is being developed on 13 acres […]
Godrej Properties Ltd, one of the few real estate players still actively launching new projects, announced the beginning of a new project in Pune. It said it will develop a residential project on approximately 59 acres in Mamurdi, West Pune, within the municipal corporation limit. The project will offer approximately 418,000 square metres (4.5 million […]
Mumbai-based Godrej Properties Limited said it will co-develop a residential project in Sarjapur in Bangalore in association with Manyata, a local developer. It signed a Development Management Agreement with Manyata Developers Private Limited to develop a group housing project in the East Bangalore locality. Development Management Agreements are usually signed when the owner of the […]
Piramal Finance Limited (PFL) has entered the retail housing finance business. It is part of $1.3 bln Piramal Enterprises, one of India’s large diversified companies, with presence in pharmaceuticals, and financial services. The housing finance venture has been floated through a wholly owned subsidiary, Piramal Housing Finance Private Limited. It will offer home loans as […]
Motilal Oswal Real Estate (MORE), the real estate arm of Motilal Oswal Private Equity said it raised Rs 1,030 cr under its India Realty Excellence Fund III. The strong inflow suggests continued investor appetite for investments into companies dealing in this sector despite a slowdown. MORE till date has invested capital in the real estate […]
Capital equipment maker Siemens today said it has transferred its lease for its Worli building to a joint venture K. Raheja Corp Group and GIC, Singapore for a consideration of Rs 610 cr. The deal was originally announced in December and is one of the biggest land deals in India in recent times. The property, […]
Central Government will give up to Rs 2.5 lakh as interest subsidy for people who take home loans to purchase their house under the Pradhan Manthri Awas Yojana, said Minister of Housing & Urban Affairs Hardeep Singh Puri. He also revealed plans to hand over government land to private builders as part of the scheme. […]
Mumbai-based real estate company Godrej Properties said it has signed a joint venture agreement with Nirmal Ventures, also based in Mumbai, for developing a residential project in Thane. The project, located on the Lal Bahadur Shastri (LBS) Marg, Thane West, will be developed under a development management agreement, the company said. Spread over 14 acres, […]
Mumbai-based real estate developer Capacit’e Infraprojects has priced its initial public offer at Rs 245-250 per share. The company said it will open its Rs 400 cr IPO on Wednesday, Sep 13 and close it on Sep 15. Up to 50% of the issue will be allocated to institutional investors, and within this, up to […]
Real Estate developer Godrej Properties said it kicked off two new projects — both residential apartments — in Gurgaon and Bangalore. The Gurgaon project is is of 98,000 square meters or 1.05 million sq. ft., while the Bangalore project will add 58,000 square meters of saleable area. The Gurgaon ‘group housing project’ is located 5 […]
With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country’s software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents over the next three quarters, according to an ASSOCHAM paper. “IT […]
Godrej Properties Ltd announced its first project in Sohna in the National Capital region. The project, which involves approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area , will be located in Sector 33. “This project will offer and will be developed as a modern group housing development. This project is located […]
