Bangalore-based real estate developer Puravankara Projects net profit rose 173 per cent to Rs 46.05 crore during the fourth quarter of the last fiscal.
Last year, net profit stood at Rs 20.89 crore during the corresponding quarter.
Chicago-headquartered Hyatt Hotels Group is betting big on the upper-midscale segment in India. Its growth in India is going to be driven by three of its brands — Hyatt Place, Hyatt House and Hyatt Regency. It has already firmed up plans for the first Hyatt Place in the country, likely to be launched at Hampi in Karnataka in June.
Godrej Properties has announced that it has entered into an agreement for developing approximately 1.36 acres of land in the posh area of Alipore on Burdwan Road, in Kolkata.
There is no doubt that the property prices in almost all the micro market of eastern city is going northwards, yet uncertainty looms large over Kolkata realty. There have been less transaction and even lesser new launches in the city, even when the state chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI) demands ten satellite towns in the state.
Diversified Indian conglomerate Piramal Group plans to lend up to $193 million to real estate projects in the current fiscal year to March as it focuses on building its newly launched financial arm, its Chairman said.
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
Punjab’s first planned eco city, christened New Chandigarh by the State Government, has started to buzz with the major real estate developers and housing societies.
Puravankara Projects Limited has launched a new scheme where customer can own a Purva apartment only by paying the initial 20% without any further financial outflows up to possession.
Jones Lang LaSalle has launched a separate office in Andheri, Mumbai’s burgeoning commercial district.
More than half a dozen builders, including Ahmedabad-based Bakeri Group, Lodha Developers and Indiabulls Real Estate, have either pulled out of the affordable-housing segment or have changed their offering.