Real Es­tate


L&T Con­struc­tion se­cures ₹30-bn realty con­tracts

L&T Con­struc­tion, a wholly arm of the Larsen & Toubro, has se­cured con­tracts worth ₹30 bil­lion for the con­struc­tion of com­mer­cial build­ings and fac­to­ries in Andhra Pradesh, said an of­fi­cial spokesper­son, claim­ing that the com­pany has re­ceived an or­der from the Andhra Pradesh Cap­i­tal Re­gion De­vel­op­ment Au­thor­ity (APCRDA) on the en­gi­neer­ing, pro­cure­ment and con­struc­tion (EPC) ba­sis.

S Pal­lonji plans global city around Je­war air­port

In or­der to in­ject a global touch to the up­com­ing in­ter­na­tional air­port at Je­war in the NCR re­gion in Greater Noida, YEIDA au­thor­i­ties al­ready held meet­ing with rep­re­sen­ta­tives of Shapoorji Pal­lonji con­struc­tion as the com­pany ex­pressed in­ter­est in the de­vel­op­ment of a global city in the area. The pro­posed city would be world-class in all re­spects whereby the new project will rope in lo­cal farm­ers in the neigh­bor­ing ar­eas.

NBCC se­cures clear­ance for ₹11,660 cr project in Delhi

De­spite the on-go­ing con­tro­versy over felling of trees for re­de­vel­op­ing seven colonies in Delhi, NBCC has re­cently se­cured green nod from the en­vi­ron­ment min­istry for one of these projects in­volv­ing the con­struc­tion of 18,000 flats at an es­ti­mated cost of ₹11,660 crore. The com­pany has re­ceived nod for re­de­vel­op­ing the Sarojini Na­gar Colony in south Delhi with some rid­ers, ac­cord­ing to an of­fi­cial source.

Gur­gaon set to start 55 af­ford­able hous­ing projects

As many as 55 af­ford­able hous­ing projects that are to come up around 380 acres in Gurugram and Sohna area in the NCR, are set to get clear­ance with the de­vel­op­ers, seek­ing li­cense for kick start­ing new projects with po­ten­tials to build three lakh units in Gurugram. In Sohna, six new li­censes are likely to be granted for con­struc­tion of af­ford­able hous­ing projects at around 30 acres of land.

Haryana plans ₹1 lakh-cr Global City in Gur­gaon

The state gov­ern­ment in Haryana has de­cided to de­velop a Global City over 1,000 acres area in Gur­gaon on the out­skirts of Delhi, In­dus­tries and Commerce Min­is­ter Vipul Goel said that the city is poised to serve as an im­por­tant node to Delhi-Mum­bai In­dus­trial Cor­ri­dor sub­re­gion of Haryana and car­ries an in­vest­ment po­ten­tial worth ₹1,00,000 crore.

Real es­tate records 41% jump in new launches

Se­ries of pol­icy re­forms an­nounced by the Cen­tral gov­ern­ment in the re­cent past for the af­ford­able res­i­den­tial seg­ment seems to have re­sulted in an in­creased new sup­ply and de­mand for af­ford­able hous­ing as the res­i­den­tial seg­ment recorded a whop­ping 41% year-on-year jump in over­all new hous­ing launches. The en­cour­ag­ing de­vel­op­ment in­di­cated a max­i­mum sup­ply of af­ford­able houses with prices less than ₹40 lakh, con­cluded ANAROCK Prop­erty Con­sul­tants in its re­cent find­ings.

In­dian realty jumps to gi­ant leap in global arena

In an en­cour­ag­ing de­vel­op­ment, In­dia’s realty sec­tor has made it to the top 10 coun­tries that reg­is­tered max­i­mum im­prove­ment in trans­parency in the real es­tate sec­tor over the last two years, con­cluded a sur­vey by real es­tate con­sul­tancy JLL, which cites im­proved mar­ket fun­da­men­tals, pol­icy re­forms and lib­er­al­iza­tion of in­vest­ment norms among rea­sons for the sharp spurt. In Jones Lang LaSalle’s (JLL’s) Global Real Es­tate Trans­parency In­dex (GRETI) 2018, In­dia has moved up to the 35th spot from 36th in 2016 and 40th in 2014. The sur­vey, which cov­ered 100 coun­tries and ranked them for trans­parency against over 180 pa­ram­e­ters, placed the UK at the top of the list while Venezuela was ranked as the least trans­par­ent.

Mum­bai’s builders de­scend to NCR in droves

A large numbers of real es­tate builders from Mum­bai are head­ing north, sens­ing an op­por­tu­nity to cap­ture part of one of the most sought-after realty mar­kets in Delhi and NCR re­gion. These builders plan to launch new projects ei­ther on their own or through ac­qui­si­tions and joint ven­tures (JVs). Op­por­tu­ni­ties for de­vel­op­ment as well as a fall in land prices fol­low­ing a pro­longed slow­down in the sec­tor have be­come a big draw for well-funded de­vel­op­ers from Mum­bai, such as Shapoorji Pal­lonji, Kal­pataru and Dosti Realty, which have fol­lowed the likes of Go­drej Prop­er­ties to the re­gion.

Real­tors ex­pands to lo­gis­tics and warehousing sec­tor

Real es­tate build­ing ma­jors have fixed lo­gis­tics and warehousing sec­tors on their build­ing radar as they are now en­ter­ing the $260-bil­lion In­dian lo­gis­tics sec­tor as com­pa­nies are look­ing for large-sized warehousing spa­ces to con­sol­i­date and ex­pand after the in­tro­duc­tion of the Goods and Ser­vice Tax (GST). In this con­nec­tion, the Ben­galuru-based Pres­tige Group and Mum­bai’s Hi­ranan­dani Group and Lodha Group are cre­at­ing ro­bust warehousing pres­ence to meet the grow­ing de­mand from FMCG, e-commerce and man­u­fac­tur­ing sec­tors.

Brahma realty kick­start ₹1,700 cr project in Gur­gaon

In a new­est de­vel­op­ment in NCR realty sec­tor, Brahma group has de­cided to in­vest ₹1,700 crore to de­velop an of­fice­cum-re­tail project at Gurugram, and with this, the com­pany marked its en­try in the re­gion. The New York-based Brahma group is an as­set man­age­ment com­pany fo­cus­ing on the In­dian real es­tate sec­tor and is de­vel­op­ing over 200 acre town­ship project at Panchkula in part­ner­ship with real es­tate ma­jor DLF where about 1,800 vil­las have al­ready been de­liv­ered.

Wad­hwa real­tor bets big on 450-acre Navi Mum­bai town­ships

The coun­try’s real es­tate build­ing ma­jor, Wad­hwa Group eyes rev­enue worth ₹4,000 crore from the first phase of its 450acre in­te­grated town­ship project un­der the Navi Mum­bai Air­port In­flu­ence No­ti­fied Area (NAINA) in Pan­vel, Mum­bai, said MD, Navin Makhija, claim­ing that the first phase of the in­te­grated project to be de­vel­oped un­der the NAINA, a pro­posed 500 city will con­sist of hubs for agro-farm­ing, ed­u­ca­tion, trade, ser­vices, in­for­ma­tion tech­nol­ogy and health­care.

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