Results for: Real Estate

L&T Realty has entered into a joint development agreement (JDA) for a slum rehabilitation project in Thane, Maharashtra. The project, located in the Panchpakhadi area, will span 31.25 lakh square feet with an estimated value of ₹ 697 crore. As part of the deal, L&T Realty’s subsidiary, L&T Parel Project Pvt Ltd, will collaborate with Jagdale Infrastructure Pvt Ltd to develop the project. The JDA was formally signed on May 7, 2024, with a stamp duty of ₹ 34.88 crore and a registration fee of ₹ 30,000. Under the slum rehabilitation model, the developer will rehabilitate slum dwellers residing on the land while also gaining a free sale component for open market sales. The project is strategically located near the Mulund toll Naka, providing excellent connectivity to the Eastern Express Highway and Thane railway station. With several renowned real estate players already present in Thane, such as Raymond Realty, Oberoi, Rustomjee, and Hiranandani, the area offers promising growth potential.

Bengaluru-based real estate developer Shriram Properties Limited has signed a Joint Development Agreement (JDA) with an estimated revenue potential of ₹250 crore for a 4-acre housing project in Yelahanka, Bengaluru. The project, comprising 270 apartments with an aggregate saleable area of 3.8 lakh sq ft, is expected to be developed over the next three years and launched during the first half of the current financial year (H1-FY25). The site provides convenient access to Yelahanka, the Bangalore International Airport, prestigious schools, healthcare facilities, and retail experiences.

In the midst of Cambodia’s thriving hospitality and real estate sectors, WeHub is reintroducing HoSKar Night in Phnom Penh. This highly anticipated networking event, renowned as the premier gathering for industry professionals, will bring together real estate developers, hotel owners, and other key players to engage, connect, and delve into market developments. Featuring expert panel discussions, HoSkar Talk, on May 29th at The TRIBE Phnom Penh Hotel, attendees can delve into topics such as resort development, luxury market trends, and operator strategies. The subsequent networking session, HoSkar Night, provides an exclusive opportunity to forge valuable connections and explore potential partnerships. Priority access is granted to local developers, hotel owners, senior industry professionals, and WeHub community members, ensuring an intimate and productive atmosphere.

Grand Peaks, a real estate investment firm, has announced the lease of 93 units within their luxury multifamily community, Skyline at Highlands, to Sonder, a leader in short-term rentals. Located in Denver’s LoHi neighborhood, Skyline at Highlands is currently pre-leasing the remainder of its 533 units and is set to become a mixed-use destination with hospitality, luxury living, and a full suite of amenities opening in June. This 93-room hotel will be Sonder’s fourth project in LoHi, offering guests a blend of contemporary design and convenience. Hotel guests will have access to various luxury amenities, including a resort-style pool and hot tub, a state-of-the-art fitness center, and expansive open park spaces.

The average housing prices across India’s top eight cities witnessed a significant 10% annual increase in the first quarter of 2024 (Q1 2024). This surge in prices is attributed to robust residential demand, especially in the premium and luxury housing segments, as buyers seek stability in the lending ecosystem and invest in emerging micro-markets benefiting from infrastructure projects.

Brookfield India Real Estate Trust (BIRET) witnessed an impressive 89% increase in its adjusted net operating income (NOI) to ₹460.8 crore during the March quarter of 2023-24, compared to ₹244.4 crore in the same period of the previous year. This strong performance was driven by robust leasing activity, with the company achieving its highest-ever quarterly new leasing of 0.9 million square feet during the quarter.

Real estate giant DLF is all set to launch new projects this year with a sales potential of nearly ₹36,000 crore. The company plans to unveil projects spanning approximately 11.6 million sq ft across Gurugram, Goa, and Mumbai. DLF’s key launches for the year include super luxury projects in Gurugram (Lux5) and Goa, a premium project in Mumbai, and a luxury project in Gurugram (DLF Privana Phase 3). These projects are expected to generate substantial revenue for the company, with a sales target of around ₹17,000 crore.

Bollywood actor Rajkummar Rao has bought a luxurious 44 crore house in Mumbai, previously owned by Janhvi Kapoor. The actor recently shared how Shah Rukh Khan’s advice influenced his decision to purchase a property that extended beyond his financial reach, motivating him to work harder. Rao’s sprawling 3456 square feet Mumbai residence exemplifies his successful movie career. His upcoming film Srikanth will hit theaters on May 10th, adding to his impressive cinematic portfolio, which includes films like Stree and Vicky Vidya Ka Woh Wala Video.

Brigade Group, a leading real estate developer, has signed an agreement to acquire a prime land parcel in Bengaluru with a gross development value (GDV) of ₹ 660 crore. The project, located on Old Madras Road, spans 4.6 acres and has a development potential of approximately 0.69 million square feet. The project will contribute to the company’s overall residential growth strategy and is expected to cater to the evolving preferences of homebuyers in the city. Brigade Group has a robust pipeline of new residential projects in Bengaluru, Chennai, and Hyderabad, totaling approximately 12.61 million square feet.

Manhattan apartment rents have reached unprecedented levels in April, setting the stage for another record-shattering summer. The median rent for new leases climbed to $4,250, marking an increase of $9 compared to April 2023. Landlords continue to drive prices upward, leaving tenants with no choice but to pay more. The competition for apartments is anticipated to intensify as the weather warms, potentially surpassing the all-time highs recorded last summer.