Bengaluru-based Sattva group is on the verge of signing an agreement with Bain Capital to set up a platform that would develop built-to-suit assets that will be managed by Colive, a coliving provider in which it has a majority stake, top officials of the real estate developer said. Both Bain…
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Century Textiles’ Birla Estates expands its presence in Pune
Birla Estates Pvt. Ltd., a wholly-owned subsidiary of Century Textiles and Industries, and the real estate venture of the Aditya Birla Group, has announced expanding its presence in Pune with a land acquisition in Manjri, Pune. The land parcel is spread across 16.5 acres with a development potential of approximately…
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Stakeholders red flag skyrocketing cost of office space in GIFT IFSC
Ahmedabad Stakeholders have red-flagged the rapidly rising prices of office spaces in GIFT City in Gujarat. The demand-supply mismatch — especially in GIFT IFSC — has seen rentals of office spaces skyrocket by 100 percent in the last three years. The cost of office spaces in GIFT IFSC currently stand…
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Landeed raises funds from Paradigm Shift VC
Landeed, a property title search engine platform, has raised funds from Paradigm Shift VC. The Hyderabad-based startup raised $8.3 million in a funding round led by Y Combinator, Draper Associates and Bayhouse Capital in in January 2023. “The new capital will be utilised to increase Landeed’s product line and further…
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Mahindra Lifespace targets ₹8-10,000 crore sales of housing, industrial spaces by FY28
Realty firm Mahindra Lifespace Developers Ltd is targeting a sharp increase in its annual sales of housing properties and industrial space to ₹8,000-10,000 crore by 2027-28 fiscal on rising demand. Mumbai-based company sold residential properties and industrial space worth ₹2,698 crore in the last fiscal as against ₹2,268 crore in…
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Indian fashion retail sector dominates leasing activity in Q1 2024
The fashion and apparel sector dominated retail store leasing in the first quarter of 2024 contributing 40 per cent to the total leasing volume of 1.1 million square feet across top seven cities by the retail sector, JLL India said in a report. The data pertains to leasing in organised…
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NCLT orders insolvency proceedings against Supertech Realtors over ₹168 crore default
The National Company Law Tribunal (NCLT) has ordered initiating an insolvency proceeding against Supertech Realtors, which is developing a residential apartment, office, retail and luxury hotel at its Supernova project. A two-member Delhi bench of NCLT admitted the insolvency plea filed by the Bank of Maharashtra over a default of…
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Leading listed realtors see a boom in pre-sales in FY24
Thirteen leading listed real estate players have sold an area of over 100 million square feet in FY24 worth over ₹1.1-lakh crore, up around 40 per cent on year and this is set to go to well over 150 msf in the current fiscal year with a total value of…
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WeWork India launches flex workspace facility in Chennai
WeWork India, a provider of flexible workspace, expanded its footprint in the country by launching its facility – Olympia Cyberspace – in Chennai. Spanning 130,000+ sq. ft. of space and 2,000 seats across two floors, Olympia Cyberspace in Guindy is the company’s 55th building in the country. With Olympia Cyberspace, WeWork India…
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Tribeca Developers plans more Trump luxury home launches across India
Tribeca Developers, an exclusive licensee of Trump Organisation-branded luxury properties in India, plans more launches across the country. “Gurgaon will get a second Trump tower, Mumbai will get a second Trump project,” Tribeca founder Kalpesh Mehta told businessline. “We’re looking at doing Trump projects in Hyderabad and Bengaluru. So, there…