Page 2 - Housing Project

Experion Developers to invest Rs 1,500 cr to build new projects in Noida

Realty firm Experion Developers will invest about Rs 1,500 crore to develop a luxury housing project in Noida as part of its expansion plans amid sharp rise in demand for residential properties. Gurugram-based Experion Developers has registered its new project 'Experion Elements' with real estate regulatory authority, RERA, for launch. The company, a wholly owned subsidiary of Experion Holdings Pte Ltd, Singapore, will develop around 320 housing units in this 4.7-acre project at Noida in Uttar Pradesh. In the first phase, around 160 units are being launched for sale. Experion Developers CEO Nagaraju Routhu said the company is entering Noida, which is an important real estate market in Delhi-NCR. With the receipt of the RERA registration for this project, he said the company is launching the first phase of this project comprising 160 units. The company had bought this land from the state government through auction process to develop this housing project. The total developable are

Squarefeet Group to invest Rs 300 cr on new housing project in Mumbai

Realty firm Squarefeet Group will invest around Rs 300 crore to develop a housing project at Thane in Mumbai Metropolitan Region (MMR). The company plans to develop about 1,000 flats in this 3-acre project named 'Yuva Rajya' and is targeting a revenue of Rs 750 crore over the next 4-5 years. Sachin Marani, Director of Squarefeet Group, said the company has launched around 300 apartments in the first phase and out of that 100 units were sold on the first day of the launch. "The total project cost is Rs 250-300 crore, while the sales realisation is estimated at Rs 750 crore," he said, adding that the company is targeting millenials for this affordable luxury project. The construction work has already started and the project will be delivered over the next four years. Mumbai-based Squarefeet Group has already completed more than 5,000 flats across various projects in Thane and is currently developing many projects. Housing sales have been very growing post-Covid pandemic on strong

Godrej Properties buys Rs 506 cr land in Noida for Rs 3k cr housing project

Realty firm Godrej Properties Ltd has bought 6.46-acre land in Noida for around Rs 500 crore to develop a housing project with an estimated revenue of Rs 3,000 crore, as part of its expansion plan to tap rising demand. In a regulatory filing on Tuesday, the company informed it has been "declared the highest bidder and has secured the allotment letter to develop a prime land parcel in Noida through an e-auction conducted by the NOIDA development authority." Spread over 6.46 acres, the land is located in Sector 44, Noida. The company did not divulge the deal value, but sources said the company bought this land for Rs 506 crore. "The land parcel will offer around 1.4 million (14 lakh) square feet of development potential and an estimated revenue potential of around Rs 3,000 crore," Godrej Properties said, adding that this will be the company's sixth project in Noida. "We have witnessed strong demand for our existing projects in Noida and this project will further strengthen our ...

Signature Global sells 1,008 flats in Gurugram for over Rs 3,600 crore

Realty firm Signature Global on Sunday said it has sold more than 1,000 flats in its luxury housing project in Gurugram for over Rs 3,600 crore on strong demand for residential projects. Housing demand has been very strong in the last two years, especially in the luxury homes segment. In a regulatory filing, Signature Global informed that it has achieved "pre-formal launch sales of more than Rs 3,600 crore for its latest premium housing residential development project 'DE LUXE-DXP' at Sector 37D in Gurugram. The project is spread over 16.5 acres and has a sales potential of 2.7 million square feet. Signature Global will develop 1,008 units in this housing project. Pradeep Aggarwal, Chairman of Signature Global, said, "With growing affluence in the middle class, a significant population segment has developed better purchasing power and higher aspirations". These factors have led to growing demand in the mid-housing segment, he added. "...modern-day consumers are seeking a mix of

Raymond Realty launches Bandra project with Rs 2,000 cr revenue potential

Raymond Realty, the real estate arm of Raymond Group, on Tuesday said it will develop a premium housing project at Bandra in Mumbai with an estimated revenue of around Rs 2,000 crore. In a regulatory filing, Raymond Ltd informed that the company has launched its first project outside Thane through a joint development agreement (JDA) with a land owning entity. The project named 'The Address by GS, Bandra' is spread over an area of 2.74 acres. "This project also promises substantial economic returns, with projections indicating a revenue generation over Rs 2,000 crore," Raymond said. Raymond is into textiles, apparel, denim, consumer care, engineering and real estate businesses.

NBCC bags housing redevelopment project for MEA worth Rs 262 crore

State-owned NBCC Ltd on Thursday said it has bagged a Rs 262 crore project to redevelop Ministry of External Affairs Housing in the national capital. In a statement, NBCC said the "Bhoomi Poojan Ceremony" for the redevelopment of Ministry of External Affairs Housing at KG Marg took place on February 14, 2024. Y K Sailas Thangal, Joint Secretary in MEA; Nidhi Anand, Senior Architect, MEA and K P Mahadevaswamy, CMD, NBCC, among others attended the event. "With a project value of approximately Rs 261.70 crore, NBCC has been entrusted with the execution of this transformative endeavour. The scope of work includes construction of 54 Type-VI Quarters, 18 Type-IV Quarters, and 18 Transit Quarters...," NBCC said. This initiative reaffirms the commitment of both MEA and NBCC to enhance infrastructure and create conducive living environment for its residents. NBCC is into Project Management Consultancy (PMC) and real estate business.

Sunteck Realty to develop two projects in Mumbai, eyes Rs 3,000 cr revenue

Sunteck Realty Ltd on Monday said it will develop two luxury housing projects in Mumbai with an estimated revenue of around Rs 3,000 crore. In a regulatory filing, the company said it is set to enter two of Mumbai's most exclusive and sought-after locations -- Nepean Sea Road in South Mumbai and Bullock Road, Bandstand in Bandra (West). Sunteck Realty plans to develop these sites into ultra-luxurious residential apartments. "This again adds Rs 3,000 crores of GDV (gross development value) to Sunteck's portfolio, which has been exponentially growing over the last few years. The company has more than doubled its GDV from Rs 12,500 crore in FY2022 to Rs 30,100 crore in FY2024," the company said. Sunteck Realty Ltd focuses on a city-centric development portfolio of about 52.5 million square feet spread across 32 projects.

Vibrant Gujarat: MoUs worth Rs 24.7k cr signed ahead of investment summit

State-owned HUDCO on Wednesday said it has entered into a pact with the Gujarat government to invest up to Rs 14,500 crore for financing of housing and urban infrastructure projects. The state government intends for overall development of Gujarat by implementing various housing and infrastructure projects, according to a regulatory filing. Housing & Urban Development Corporation Ltd (HUDCO) has "executed a memorandum of understanding with the State Government of Gujarat for an investment up to Rs 14,500 crore for financing the housing and urban infrastructure projects in the state of Gujarat," the filing said. Being a techno-financial institution, HUDCO is in the business of providing financial assistance for housing and urban development projects in the country.

Lowrise takes the high ground: Why it's a homebuyers' favourite choice

Investing in a villa at a prime location is seen as a financially prudent decision that provides appreciation and stability in the long run

Prestige Estates expects Rs 550 cr from new housing project in Bengaluru

Realty firm Prestige Estates Projects Ltd expects Rs 550 crore revenue from its new residential project in Bengaluru. The company has launched a new housing project, 'Prestige Glenbrook' in the heart of Whitefield, Bengaluru's IT hub. "The development comprises 285 apartments across two high-rise towers with a developable area of 0.7 million square feet and has a revenue potential of Rs 550 crore," Prestige said in a regulatory filing on Thursday. Prestige Estates expects its sale bookings to rise 55 per cent this fiscal to touch an all-time high of Rs 20,000 crore on strong demand for residential properties. Its sale bookings stood at Rs 12,931 crore in 202223. "We have done pre-sales of around Rs 11,000 crore in the first two quarters. We had guided around Rs 16,000 crore (for the entire 2023-24). But having done Rs 11,000 crore of sales in the first six months, the team is very confident. Once all the approvals come and launches happen, we should cross Rs 20,000 crore," Prestig

Anant Raj plans 3 housing projects with revenue of around Rs 4,000 cr

Realty firm Anant Raj Ltd plans to launch three new housing projects in Gurugram and Andhra Pradesh during the next 6-9 months with an estimated sales value of Rs 4,000 crore, as it seeks to expand business amid strong demand for residential properties. Delhi-based Anant Raj Ltd, which is listed on stock exchanges, will launch a luxury group housing project in Sector 63A Gurugram, comprising over one million square feet of developable area. The company also has plans to launch plots and villas, having a saleable area of around 1 million square feet, in its nearly 200-acre township 'Anant Raj Estate' in Gurugram. Anant Raj has also started construction of 1,900 affordable housing projects at Tirupati in Andhra Pradesh. "We are planning to launch three projects in Gurugram and Andhra Pradesh within the next 6-9 months. We are expecting a revenue of about Rs 4,000 crore from these projects," Anant Raj Ltd Managing Director Amit Sarin said. The demand is very strong largely from ...

Prestige Group to launch luxury housing project in Delhi's KG Marg this yr

Bengaluru-based Prestige Estates Projects Ltd plans to develop a luxury housing project in central Delhi in partnership with a local realty firm and is looking for more land in Delhi-NCR to build residential properties, its CMD Irfan Razack said. Prestige Estates had forayed into the Delhi-NCR market a few years ago. It is already constructing a commercial project in Aerocity, Delhi while partnering with ACE group for a mid-income housing project in Sector 150 Noida. "The approval for Noida Sector 150 has been stuck for a long time. We are waiting for the approvals for launching a 15 acre mid-income housing project," said Razack, the Chairman and Managing Director of Prestige Group. He was speaking on the sidelines of the CREDAI-NATCON event in Egypt held on October 5-8. "We have taken one very high-end development in KG Marg, Delhi. It's a JDA (joint development agreement) with TDI. We have just done the initial term sheet. We have done initial payment to Indiabulls to clear some

Jharkhand gives nod to ambitious Rs 16,320 cr housing project for needy

The Jharkhand government on Wednesday gave its nod to the ambitious Rs 16,320 crore project for building 8 lakh houses for the needy by March 31, 2026, as promised by Chief Minister Hemant Soren on August 15. Two lakh people will be provided houses in the ongoing fiscal, followed by 3.5 lakh in the next fiscal and 2.5 lakh in the financial year 2025-26 at an expenditure of Rs 4,107 crore, Rs 7,107 crore and Rs 5,107 crore respectively, an official said. "The Jharkhand Cabinet meeting chaired by Chief Minister Hemant Soren gave its nod to 'Abua Awas Yojna (AAY) under which 8 lakh houses will be built by March 31, 2026," the official said after the cabinet meeting. The state government has made a provision for a clean kitchen with three rooms under AAY at a total investment of Rs 16,320 crore, the official said. Hoisting the national flag at the Morabadi Ground here on the 77th Independence Day, Soren had announced: "I had promised three-room houses for all in the state. In the comin

Godrej Properties sells around 670 flats worth over Rs 2K cr in Noida

Realty firm Godrej Properties Ltd on Monday said it has sold about 670 flats worth more than Rs 2000 crore in its new housing project at Noida on strong demands. Godrej Properties purchased the land through an e-auction conducted by the Noida Authority in November last year. In a regulatory filing, Godrej Properties informed that it has "sold 670 homes worth over Rs 2,000 crore in its project, Godrej Tropical Isle, located in Sector 146, Noida." This is Godrej Properties' most successful ever launch in terms of the value and volume of sales achieved, the company said. The project was launched in August. Gaurav Pandey, the MD and CEO of Godrej Properties said, "Noida is an extremely important market for Godrej Properties and we will look to further strengthen our presence in the years ahead." Godrej Properties, an arm of business conglomerate Godrej Industries, is one of the leading real estate developers in the country. It mainly focuses on the Delhi-NCR, Mumbai Metropolitan Regi

Investing in a green house? Evaluate local demand to ensure sound return

End users should assess whether their duration of stay justifies its higher upfront cost

PM to inaugurate biggest housing project for EWS in Maharashtra next month

Prime Minister Narendra Modi will be inaugurating the largest housing project for economically weaker sections at Solapur, in Maharashtra, next month, a senior government official said on Friday. The project at Raynagar in Solapur is spread over 100 acres and comprises 30,000 homes, of which 15,000 have already been built, Maharashtra's additional chief secretary Valsa Nair Singh said. "The biggest economically weaker section housing scheme is now in the final stages of being built at a place called Raynagar in Solapur. PM Modi is coming next month to inaugurate it," the bureaucrat said, addressing a summit organised by industry lobby Naredco. Every house is 300 sq ft and will be costing Rs 6 lakh for the beneficiaries, she said, adding that to be eligible, a family has to have an earning of less than Rs 3 lakh per year. The Maharashtra Housing and Area Development Authority (Mhada) is executing the project, which also has assistance from the central government's PMAY. According t

Kishan Reddy prevented by police from visiting T'gana housing project site

High drama prevailed here on Thursday as Union Minister and Telangana BJP president G Kishan Reddy along with other party leaders sat on the road after being stopped by police from proceeding to inspect a site of the BRS government's housing scheme for the poor. Kishan Reddy sat on the road in Outer Ring Road miffed at being prevented from heading to the housing site. "Am I a criminal? Am I a terrorist? I have a right to go anywhere in India," Kishan Reddy told Commissioner of Rachakonda Police D S Chauhan who tried to persuade the Union Minister and other leaders to vacate the place. Kishan Reddy was later physically lifted by police and taken away from the place to a vehicle. He had announced a plan to visit the state government's two bedroom housing site at Batasingaram here. Kishan Reddy had earlier condemned the "house arrest" of BJP leaders by police in view of the planned visit to the two bedroom housing site.

DLF awards Rs 369 cr contract to B L Kashyap in Gurugram housing project

Realty firm DLF has awarded Rs 369 crore contract to construction firm B L Kashyap in its luxury housing project at Gurugram, Haryana. In a regulatory filing, B L Kashyap and Sons Ltd informed that it has secured new order aggregating to about Rs 369 crore from DLF Home Developers Ltd, which is a subsidiary of DLF Ltd. The nature of contract is civil structure and waterproofing works for 'DLF The Arbour' housing project in Sector 63, Gurugram. The contract is to be executed within the next 33 months. B L Kashyap said its total order book as on date stands at Rs 3,086 crore (excluding GST till date). In March, DLF had said it would invest around Rs 3,500 crore over the next four years to construct this project, which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17).

Godrej Properties eyes strong growth on robust demand, new launches

The stock has gained 56 per cent over three months on consecutive quarters of high bookings

Ashiana Housing to invest Rs 275 cr to develop project for senior citizens

Realty firm Ashiana Housing will invest Rs 275 crore to develop a housing project in Pune for senior citizens. The Delhi-based company said in a statement that it has launched a joint venture project, Ashiana Amodh Senior Living at Talegaon in Pune. The project, spread over 11.93 acres, will be developed in four phases and will entail an investment of Rs 275 crore, it added. The project will be funded through internal accruals and construction finance. Ashiana Housing said the delivery of the first phase is scheduled for October 2026. The company is targeting customers aged 55 and above. In the first phase, 220 units will be developed and sold in a price range of Rs 57 lakh to to Rs 1.27 crore. The development of the first phase includes the land cost of Rs 25.11 crore, construction cost of Rs 52.38 crore, and other expenditures of Rs 16.36 crore. The total investment in the project would be Rs 275 crore, the company said. "Recognizing the shifting societal norms, the acceptan