Real Es­tate

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Hil­ton-Em­bassy JV build­ing ₹600 cr prop­er­ties

Hil­ton Ho­tels has signed agree­ments with Em­bassy Group to de­velop two ho­tels in Bengaluru at an in­vest­ment of ₹600 crore. The con­struc­tion is ex­pected to be­gin shortly and the ho­tels will be op­er­a­tional in the next cou­ple of years. The dual-branded prop­erty will be de­vel­oped and owned by the Em­bassy Group and man­aged by Hil­ton.

Gur­gaon goes for 3 lakh low-cost hous­ing units

The Depart­ment of Town and Coun­try Plan­ning (DTCP) in­vited fresh ap­pli­ca­tions for li­censes to build over 3 lakh af­ford­able hous­ing units in and around the satel­lite city. Based on the ear­lier cap, DTCP had is­sued af­ford­able hous­ing li­censes to over 331 acres land parcels on which around 46,000 units are at dif­fer­ent stages of com­ple­tion, in sec­tors along North­ern Pe­riph­eral Road (NPR)-Dwarka ex­press­way, and South­ern Pe­riph­eral Road (SPR).

Su­mit­omo in JV unveils $2-bn realty project

Ja­pan-based Su­mit­omo Cor­po­ra­tion has formed a joint ven­ture with In­dian auto com­po­nents ma­jor Kr­ishna Group to build real es­tate projects across In­dia. The joint ven­ture is launch­ing its first project named as Krisumi city with 18 mil­lion sqft devel­op­ment in Gur­gaon, with an in­vest­ment of $2 bil­lion. The joint ven­ture en­tity known as Krisumi Cor­po­ra­tion will de­velop large scale real es­tate projects across In­dia.

Realty to touch $180-bn mark by 2020

The mar­ket size of the In­dian real es­tate sec­tor is ex­pected to reach $180 bil­lion by 2020 with the hous­ing sec­tor con­tri­bu­tion to 11.2% of GDP, said a re­port re­leased by CREDAI jointly with real es­tate con­sul­tant JLL. The re­port con­cluded that RERA, GST, FDI pol­icy, af­ford­able hous­ing, real es­tate in­vest­ment trust, tech­nol­ogy and al­ter­na­tive as­set classes are the ma­jor al­ter­ing trends that would trans­form the In­dian realty sec­tor in the near fu­ture.

Pu­ra­vankara launches ₹8,200 cr realty projects

The wholly owned sub­sidiary of Prov­i­dent Hous­ing, Pu­ru­vankara Limited is launch­ing a real es­tate project near Dabolim in Goa at an in­vest­ment of ₹500 crore. Pu­ra­vankara is also en­ter­ing into a man­age­ment con­tract with The Park Ho­tels. A full-fledged ho­tel/ ser­vice apart­ment is pro­posed to be built & op­er­ated by The Park Ho­tels, un­der its zone by the Park brand, with in­vest over ₹3,200 crore to de­velop over 15mn sqft of land across Mum­bai, Goa, Pune, Ban­ga­lore, and Chen­nai.

TO launches 7-lakh sqft project in Gur­gaon

Af­ter mak­ing In­dia its largest mar­ket with most num­ber of Trump branded prop­er­ties out­side North Amer­ica, Trump Or­ga­ni­za­tion (TO) has de­cided to launch its maiden com­mer­cial real es­tate project in the coun­try this year, Ex­ec­u­tive Vice Chair­man of The Trump Or­ga­ni­za­tion, Don­ald Trump Jr said, adding that his com­pany is also keen on form­ing al­liances for hos­pi­tal­ity projects in In­dia. Trump Or­ga­ni­za­tion, which en­tered into its first com­mer­cial of­fice deal in In­dia with pri­vate eq­uity fund and de­vel­oper IREO in 2016, is build­ing the high-end 600,000-700,000 sqft com­mer­cial project on Gur­gaon's Golf Course Ex­ten­sion Road to be built by IREO along­side a re­tail com­plex.

Shri­ram se­cures ₹1,000 cr for realty projects

Shri­ram Prop­er­ties, a Bengaluru-based realty arm of Shri­ram Group, has se­cured ₹1,000 crore to be in­vested in af­ford­able, mid­hous­ing and dis­tressed real es­tate projects. Man­ag­ing Direc­tor, M Mu­rali said that the com­pany has se­cured funds from ASK Group.

VUDA an­nounces 20-acre iconic tower

The Visakha­p­at­nam Ur­ban Devel­op­ment Au­thor­ity (VUDA) is all set to build an iconic tower as part of its 20-acre IT City project in Mad­hu­rawada area of the city. The tower will likely have a built-up area of about 5.5 lakh square feet with a built-up area of 30 lakh square feet, com­pris­ing com­mer­cial and recre­ational space, among oth­ers. The IT City will have a park­ing area of 1.37 lakh sqft and there will be sev­eral blocks for other sup­port­ing so­cial in­fra­struc­ture, in­clud­ing malls, ho­tels, mul­ti­plex and so on.

Te­lan­gana takes up ₹8,541 cr hous­ing ven­ture

The Te­lan­gana gov­ern­ment has de­cided to build low-cost hous­ing units at an in­vest­ment of ₹8,547 crore. The state hous­ing cor­po­ra­tion has agreed to bear ₹750 crore for the con­struc­tion of two be­d­room houses in dif­fer­ent ar­eas of the city.

Lulu Group unveils ₹2,000 cr mall in Luc­know

The Lulu Group has de­cided to build a mega mall project in Luc­know at an in­vest­ment of ₹2,000 crore. The group’s Chair­man said that the com­pany is mak­ing North In­dia's largest shop­ping Mall with more than 20 lakh sqft. built up area fea­tur­ing more than 200 in­ter­na­tional and na­tional brands along with 11 screen Mul­ti­plex screens, a 2500-seater Food Court and more than 20 Fine Din­ing Res­tau­rants.

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