2023-08-14
Residents Welfare Associations (RWAs) and apartment owners' associations (AOAs) in Delhi-NCR have cited a shortage of funds and equipment and asked for additional time to get the improvements done as the deadline to retrofit diesel generators (DGs) with Emission Control Devices (ECDs) approaches. In addition to adopting a dual-fuel system (70 percent natural gas, 30 percent diesel), the Commission for Air Quality Management has set a deadline of September 30 for getting DG sets fitted with Emission Control Devices.
2023-08-14
MRG Group, a real estate developer in the National Capital Region, has revealed its bold intention to launch an innovative affordable housing venture in Gurugram, Haryana's Sector-90. This upcoming project is designed to change the face of affordable housing by incorporating sustainable building principles and an extensive list of amenities. The residential flats will be affordable with a perfect mix of comfort, aesthetics, and functionality, boosting the living experience for Gurugram residents.
2023-08-14
Global Health Limited, a prominent private multi-specialty tertiary care provider, and DLF Group (DLF), a major real estate firm, have reached an agreement to form a company to develop a 400-bed multi-super specialty hospital to deliver high-quality healthcare in the heart of Delhi. The new firm will be owned equally by Medanta and DLF. While Medanta will administer the hospital and have operational responsibility, DLF will serve as a strategic investor.
2023-08-12
Prestige Group, a real estate developer, has teamed up with PropVR, Square Yards' 3D visualization division, to launch and 3D-model the next luxury properties inside the metaverse's virtual environment. A couple of projects which are set to launch within the next one to three months, especially in the luxury segment will be launched and modelled within the virtual reality ecosystem.
2023-08-12
According to a Knight Frank India report, Hyderabad registered 5,557 residential properties in July 2023, up 26% from the same month last year. The total value of the properties registered during the month was Rs 2,878 crore. The value of the properties registered increased by 35% over the previous year. The Greater Hyderabad residential market includes four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.
2023-08-12
CapitaLand Investment (CLI) has created a business park development fund, CapitaLand India Growth Fund 2 (CIGF2) with a target fund size of Singapore $525 million to invest in Grade A business parks across India. Simon Treacy, CEO of (Private Equity Real Estate), CLI, said, “In addition to business parks, we see the potential to use our private funds to invest in new economic assets in India, including data centers, logistics, and industrial sites”.
2023-08-12
Puravankara, a real estate developer, reported a loss of Rs 17 crore in the first quarter of the financial year 2023 despite reporting sales of Rs 323 crore, up 50% yearly. The company sold around 64,500 residential units in the first quarter of 2023. It is aiming to generate a topline of Rs 18,000 crore from these launches over the course of the next three years. This year, it plans to launch new projects totaling more than 15 million sq. ft in Bengaluru, Chennai, Kochi, and Coimbatore.
2023-08-12
Skootr Global Private Limited, a managed office space provider, has leased over 1 lakh sq. ft of space in a Max Estates office complex in Noida for five years at a monthly rent of Rs 74.22 lakh. The company has taken over the ninth and tenth floors of Max Square in Noida. The ninth story occupies an area of 49,605 sq ft, while the tenth floor covers a space of 53,505 sq. ft.
2023-08-12
According to the people familiar with the development, the Uttar Pradesh government is considering implementing a co-development policy to revive stalled projects in Noida and Greater Noida. The government is already conducting a trial project in which real estate firm Hawelia Group has taken over a 22-acre nearly completed project in Greater Noida called Shree Radha Sky Garden, where the new developer would deliver over 2,000 units.
2023-08-11
Sunteck Realty has released its financial results for the first quarter of fiscal year 2024, disclosing a consolidated net loss of $67.3 million, a departure from the net consolidated profit recorded in the previous fiscal year's equivalent quarter. The board of directors accepted the strategic step of amalgamation of four wholly-owned subsidiaries, namely Skystar Buildcon, Advaith Infraprojects, Magnate Industries, and Shivay Brokers. This effort aims to optimize the corporate structure and business processes of the corporation.
