The company is planning forays into smaller towns over the next few years. The projects will be a mix of residential and commercial ventures, in Tier II cities where the company sees greater scope.
The company is looking forward to launching at least 5.3 msf by the end of FY24 comprising about 5,000 units. The company sees strong growth in the affordable segment, plus the standard growth in demand in all the mid-market and luxury segments.
Affordable housing and the introduction of the real-estate regulator were the biggest moves. But a lacklustre approach towards the rental housing market was arguably a big miss.
According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,788 projects, 411 reported cost overruns and 837 projects were delayed.
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Congress, on November 17, had accused the BJP of relaxing norms for the Dharavi Redevelopment Project to benefit the Adani group
For the 109 plots, 3,276 applications were received, of which 3,234 were found eligible for the draw. The land parcels were allotted through a lucky draw
The five projects including Navi Mumbai Metro line 1, Navi Mumbai International Airport, Mumbai Trans Harbour Link (MTHL) along with two other projects are expected to ease connectivity and boost Navi Mumbai real estate market.
According to ASLI, there are currently 50 senior living projects in process from the top 10-12 players and 60 percent of which are in tier II cities this shows the rising demand even in tier II-III cities.
The Bollywood actress has been in the news in the past for several transactions in the Mumbai real estate market.
The report added that real estate players entering these cities have enhanced the home buyer confidence, as these developers have a good track record and strong execution capabilities, along with access to institutional capital
It has entered into joint development agreement with Krishna Priya Estates and Micro Labs,
The company said it has already launched about 2 million square feet (msf) to date and plans to take that figure to about 3.3 msf by the end of FY24.
Mumbai real estate update: Paresh Parekh and Vijay Parekh have purchased two sea-facing apartments totalling Rs 100 crore from Shree Naman Residency Pvt Ltd and others in Worli area of Mumbai.
Registration for the scheme will start from next week and the date will be announced soon, DDA officials said. The flats will be located in Dwarka, Loknayak Puram and Narela
In this edition of Moneycontrol Pro Panorama: RBI’s credit deployment data add to existing anxiety, FMCG companies may have oversold themselves, investments in agtech is not enough to transform the sector, Indian telecom's leapfrog moment, and more
The facilities located in Manyata Redwood in Bengaluru, and RMZ Spire in Hyderabad are set to open within the next few months, it added.
In Mumbai real estate market, more than 4,800 properties have been registered in the first 10 days of November, ahead of Diwali, which marks the peak of the festive season.
Sectors including technology, BFSI and engineering and manufacturing to lead leasing activity; Bengaluru continues to account for the largest share in leasing over the six months (Jan’23-Jun’23), while Chennai has witnessed about one-fourth share led by ready institutional supply that entered the market in 2023
The builder had apparently not handed over flats to buyers who had sought legal remedies for the repeated and lengthy delays in handover of the flats.
The developers say their losses have run into several hundreds of crores. Also, they fear that construction labour that is sitting idle, might head back home, causing further disruption in the schedules, thereby delaying projects further.
The company believes that redevelopment is the way forward and is scouting for redevelopment projects in western suburbs, South Mumbai and in central suburbs.
A report by JLL titled The Rise of Senior Living Market in India has said that the independent living units dominate existing supply with 84 percent market share and 2 BHK units account for around 43 percent of the present senior living supply
Puravankara Q2 earnings: Revenue from projects stood at 368 crore, up 54 percent YoY.
Some developers are also launching luxury projects in Tier II and III cities that are seeing buyers seeking alternatives to matchbox apartments and urban sprawl