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…
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New supply of homes, costing ₹60 lakh each, dips 38% across top 8 cities in Jan-Mar: PropEquity
New supply of affordable homes priced up to ₹60 lakh each, declined 38 per cent, across eight major cities to 33,420 units, during January-March this year, with builders focusing on developing luxury flats, according to PropEquity. Real estate data analytic firm PropEquity, attributed the fall in new supply to sharp…
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Pune’s residential sales up 56% in Q1 2024
Pune’s real estate market witnessed a growth in transactions and overall sales value in the first quarter of 2024. According to Square Yards Data Intelligence, property registrations recorded by the Inspector General of Registration (IGR), Maharashtra, surged by 49 per cent compared to Q4 2023, at 27,056. Correspondingly, the sales…
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New home launches continue to lag sales, prices remain buoyant
New housing supply continued to lag demand in April as real estate developers slowed down the launch momentum resulting in a 10 per cent fall in new launches (in terms of area) in the month in the top seven cities while sales rose 28 per cent. The most fall in…
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Asset Homes retains Crisil DA2+ rating
Asset Homes, the Kochi-based real estate developer, has retained the Crisio DA2+ rating for the fourth year in a row, while also winning four national awards at the Construction Industry Development Council (CIDC) Vishwakarma Awards 2024. Binaifer Jehani, Business Head, Crisil and Abbas Master, Associate Director, Crisil, presented the award…
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Shriram Properties signed JDA for 4 acre development in Bengaluru
Shriram Properties Limited entered a Joint Development Agreement (JDA) for a 4-acre land parcel in Yelahanka, Bengaluru. The project will include 270 apartments with a total saleable area of approximately 3.8 lakh square feet and an expected revenue potential of over ₹250 crore. The development is slated to start within…