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Rajasthan-based real estate developer Trehan Group has launched a new residential project, ‘Shalimar Heights’ in the industrial town of Alwar, Rajasthan. The project is located at a 10-minute distance from India’s longest & costliest highway, the Delhi-Mumbai Expressway, and shares connectivity with metro cities and Tier 2 cities such as Jaipur, Gurugram, and other parts of the National Capital Region.
It was conceptualised to clean the opaque ecosystem of Indian real estate; was touted to be the biggest reform of the sector; and expected to enhance the home buyers’ confidence index. But seven long years after the enactment of the Real Estate Regulatory Authority (RERA), it has still not evolved as a stamp of trust for the harassed home buyers. RERA’s tryst with trial & error has not only dented the confidence of the home buyers but also lent credence to the perception that complaint with RERA rather gives an edge to the builders. After all, RERA has been relegated to be the balancing act for both the builder and the buyer. A Track2Realty analysis.
ASK Property Fund, the real estate private equity arm of Blackstone-backed ASK Asset & Wealth Management Group, has announced a successful exit of INR 354 crore from QVC Realty Developers.
As RERA (Real Estate Regulatory Authority) is close to its 7 years of completion, the home buyers across the nation have more to complain than compliment with what was supposed to be a game changer legislation. The buyers rather question as to RERA has been enacted to serve whose purpose. Most of the home buyers across India’s top 10 cities point out that the ground realities have not changed for them. A vast majority of them feel it has opened another window of litigation and thus hurts than helps the buyers. Issues range from lack of transparency to accountability, and existing market realities to consumer interface.
Absorption of office spaces increased to 13.40 Mn sq ft in Q1 2024 from 11.85 Mn sq ft in Q1 2023, showcasing a 13% increase Y-O-Y, says a Vestian report. However, the absorption declined by 31% this quarter after peaking in Q4 2023. Southern cities (Bengaluru, Chennai, and Hyderabad) accounted for 61% of the Pan-India absorption in Q1 2024 its share increased from 54% a year earlier.
The land acquisition expands Sumadhura Group’s Bengaluru and Hyderabad land bank to a significant 100 acres in FY 2023-2024, fuelling their future growth. The company boasts an impressive track record of completing 11 million square feet of residential and commercial projects in the last 30 years. The momentum continues with over 40 million square feet of additional development currently underway or in the planning stages, encompassing residential, commercial, and warehousing projects.
Provident Housing, a wholly owned subsidiary of Puravankara Limited has made a…
hBits, a fractional ownership platform, has marked its entry in the second largest city of Maharashtra with the acquisition of the 44,328 square feet campus – CyberCity Magarpatta. A city within a city, the campus houses a commercial zone, a shopping mall, multiple restaurants, two schools, residential neighborhoods, a gymkhana as well as a large 25-acre serene park. Through this asset, hBits aims to create an investment opportunity worth INR 55 crore, thus democratizing access to Grade A commercial real estate for investors.
The project Zeassetz’s Isle of Life consists of 484 studio apartments, with residents able to choose between two sizes: a 272 sq ft apartment or a slightly larger 292 sq ft apartment. This project expands Zeassetz’s buy-to-rent portfolio and provides customers with fully furnished apartments and comprehensive tenant management, enabling secure and straightforward rental income. Each unit is MahaRERA-approved and fully furnished interiors and managed properties. This project emphasises affordability, convenience, and easy rentals making it a suitable option for modern investors seeking convenience and high returns.
No one has got a clear answer to the core of the problems and every industry stakeholder has his own point of view. However, the economies of scale suggests it definitely helps the developers to undertake cost-effective measures since material procurement happens at a group level. This gives large developers an advantage over other smaller developers and projects. Also, the duration of construction has an impact on the cost. The developers must ensure the completion of projects on time, which could help us sell the properties at a faster pace and keep the cost under control.