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 sq.km city will consist of hubs for agro-farming, education, trade, services, information technology and healthcare.