2023-08-16
Shriram Properties Limited (SPL), a Bengaluru-based real estate developer, announced a profit of Rs 16.6 crore for the first quarter of its current financial year on August 14, up 59 % from the previous year. SPL reported Rs 459 crore in first quarter revenues, up 47 % year on year (YoY), by selling 0.78 million square feet. The plotted development model accounted for around 21% of sales volumes during the quarter, while the development management model accounted for 12% of sales volumes.
2023-08-15
On August 12, the Greater Noida Industrial Development Authority (GNIDA) approved the Master Plan 2041, paving the path for the expansion of this satellite town near Delhi. Greater Noida's master plan calls for the acquisition of 40,000 hectares for development and expansion. Greater Noida currently occupies 31,733 hectares of land. After the master plan is implemented, the city will cover around 71,733 hectares.
2023-08-15
Some of the town planning authorities and municipal councils have not been updating MahaRERA via email resulting in pending registrations of 160 real estate projects in the state. Following the discovery that some developers from the Kalyan-Dombivali region had submitted forged civic clearance documents when registering projects under MahaRERA, it was mandated that local civic bodies and planning authorities email all commencement and occupation certificates issued for real estate projects to a dedicated email ID to verify their authenticity.
2023-08-15
According to the real estate regulator, the Uttar Pradesh government elected Sanjay R Bhoosreddy as the next Chairman of the Uttar Pradesh RERA, and Dimple Verma as a new member of the Authority. Bhoosreddy is a retired IAS official who previously served as Additional Chief Secretary-Sugar Industry and as the UP government’s Investment Commissioner. Verma is a retired Director General of Youth Welfare. She has previously served as the Principal Secretary to the UP government.
2023-08-15
Malhotra Group: Leaders in Property Leisure, and Care (PLC), a UK-based firm with business interests in real estate, care homes, and leisure across the UK, purchased a delayed project in Punjab's Ludhiana for approximately Rs 150 crore. The firms’ resolution plan has been approved by the National Company Law Tribunal (NCLT). The corporation's township, which would include a hotel, health farm, school, golf course, villas, and flats, will cost between Rs 1,200 and Rs 1,500 crore in Foreign Direct Investment.
2023-08-15
The Haryana Urban Development Authority (Huda) plans to replace the illegal Gandhi Colony with 20 group housing societies on 21.75 acres of land in Sector 5's Mansa Devi Complex (MDC). Almost a thousand shanties have invaded the region. Municipal corporation and Huda reported that 100 shanties were removed; officials send letters to illegal inhabitants requiring them to vacate within a specified timeframe or face legal action.
2023-08-15
Kolkata's real estate landscape is set to transform with Merlin Group's pioneering project, Serenia. Merlin Group, known for its dominance in Eastern India, unveils Serenia, the highest residential condominium in North Kolkata, near B.T. Road. The initiative intends to reinvent urban living through blending. Serenia, a green building with RERA approval, is located near the Indian Statistical Institute, offers easy access to key destinations, and elevates North Kolkata's skyline.
2023-08-14
The Yamuna Expressway Industrial Development Authority's (YEIDA) recently launched residential plots scheme has received a positive response from home buyers, with as many as 18,000 people registering for the same official privy to the development said. About 1,184 residential plots are up for sale in three YEIDA sectors – 16,17, and 20. The scheme opened applications on the 8th of August and will close on September 1st.
2023-08-14
Galaxy Group, situated in the NCR, has leased a property tract in Lodhi Colony, South Delhi, from the Rail Property Development Authority (RLDA) for Rs 3.56 billion. The developer plans to invest an extra Rs 10 billion in project development, including residences for railway employees. The total land area, 43,345.82 sq mt, is divided into three sections: Part A & Part B (Sewa Nagar), and Lodhi Colony. A total of 16,058.40 sq meters will be leased for residential construction for a 99-years.
2023-08-14
Sindhu Trade Links Ltd is developing a mixed-use township in Bilaspur, Chhattisgarh, which is widely known as "The City of Festivals," is one of 100 Indian communities selected for smart city development under the Smart Cities Mission. The proposed township spans around 53 acres, of which the firm already owns approximately 47 acres and has contracted with other partners for an additional 16 acres. The project includes Residential Plotted Development, Residential Group Housing, a Retail Shopping Mall, and other social infrastructure required for world-class development in this region.
