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…
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DRA Homes plans upscale apartment project in Chennai
DRA Homes, a real estate developer in Chennai, has planned to develop 400 upscale sea-view apartments on OMR, Chennai. The announcement comes post the company’s buying 3.43-acre of prime land in Navalur. Spread over 7 lakh square feet, DRA Homes plans to launch its latest project in the first quarter…
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ARCs to see 500-700 bps improvement in cumulative recovery rate for stressed residential real estate projects: CRISIL Ratings
Asset reconstruction companies (ARCs) are set to see a 500-700 basis points (bps) increase in the cumulative recovery rate for stressed residential real estate projects to 16-18 per cent as on March 31, 2025, from 11 per cent as on March 31, 2024, according to CRISIL Ratings. The improvement in…
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Raymond eyes ₹25,000 cr revenue from real estate business
Gautam Hari Singhania-led Raymond has the potential to generate a revenue of ₹25,000 crore through development of its land bank in Thane. The Group has about 100 acres of land in Thane with 11.4 million sq ft RERA approved carpet area, of which about 40 acres are currently under development.…
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Birla Estates to develop housing project in Gurugram with revenue of ₹5,000 cr
Birla Estates, the realty arm of Aditya Birla Group’s Century Textiles and Industries, will develop a 13.27-acre land parcel in Gurugram into a luxury housing project with a revenue potential of ₹5,000 crore. It has signed a joint venture agreement with Barmalt India for this. The development potential of the…
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Nearly 90 retail properties covering 450 lakh sq ft space to come up by 2028: Report
Nearly 90 retail real estate properties, comprising around 450 lakh square feet of space, are expected to come up by 2028, across seven major cities as builders expect a rise in demand for quality assets from retailers, according to JLL India. Also read:India’s flex workspace market set to grow to…
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Puravankara acquires 12.75-acre land parcel in Thane for high-end residential project
Bengaluru-based Puravankara has acquired a 12.75-acre land parcel in Thane that would have an estimated carpet area of 18.20 lakh square feet and a potential gross development value of ₹4,000 crore. The company intends to build a high-end, mixed-use residential project on the land. The project would be launched during…
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Mumbai property registrations in May up 20% y-o-y
Around 11,800 properties were registered in Mumbai in May, rising by a fifth on year and 1 per cent up sequentially, while stamp duty revenue rose by over a fifth to more than ₹1,000 crore, data from the Maharashtra government’s website showed. In the first five months of 2024 more…
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Aadhar Housing Finance consolidated net up 38% in FY24 at ₹750 crore
Aadhar Housing Finance Limited (AHFL) on Wednesday reported a 38 percent increase in consolidated net profit for the fiscal year ended March 31, 2024, at ₹ 750 crore (₹545 crore). The consolidated total income of the company for the fiscal year 2023–24 grew 27 per cent to ₹ 2587 crore…