News

Mumbai's first metro line is nearing completion. The much-anticipated Aarey vehicle shed (maintenance facility), vital to metro operation, is nearly 99% complete. Metro trains will soon undergo final inspections and be ready for operation.

In 2024, over 5.3 lakh residences will be completed, a decade-high. The Covid-19 outbreak delayed projects and the government-backed SWAMIH fund revived them, causing this increase. NAREDCO states that almost 4.35 lakh units were constructed in the top seven cities in 2023.

The Andheri East-West Gopalakrishna Gokhale Bridge is on track to finish by June 30, 2024. The schedule for connecting this bridge to the C.D. Barfiwala Flyover is being followed. The project is actively monitored by municipal authorities and VJTI technical consultants.

Signature Global acquired 14.65 acres of valuable territory in Gurugram's Sector 37D, near the Dwarka Motorway, to strategically develop. Sources estimate the transaction to be worth about ₹350 crore.

Over the previous six years, unsold flat stock in the Mumbai Metropolitan Region (MMR) has dropped 14%. On Thursday, ANAROCK Research said that unsold apartments fell from 2.23 lakh in the first quarter of 2018 to 1.93 lakh by March 2024.

Mapletree Investments, a Singapore-based private equity organisation, bought a 41-acre Bengaluru property tract from Adarsh Developers. At over ₹1,900 crore, the acquisition is part of Adarsh Developers' debt reduction strategy. The site has 7 million square feet of development potential.

On its first day, Awfis Space Solutions, a major office-sharing provider, received offers that exceeded twice the amount of shares available. Bids for 17.4 million shares above the 8.62 million available, according to BSE statistics.

Signature Global, a real estate company, has purchased 14.65 acres of property in Gurugram for ₹350 crore to create a large housing complex as part of its development strategy. The corporation bought property in Sector 37D, near the fast-growing Dwarka Motorway.

Dvok Buildcon, a property developer, purchased an 18-acre site in Gurugram area for ₹310 crore, according to CRE Matrix filings. Gurugram-based firm paid ₹21.72 crore for agricultural property near Manesar, including stamp duty.

Real estate giant Sobha Group will affect Mumbai's luxury home market. The business plans to treble annual sales bookings to ₹30,000 crore in the next 4-5 years via an aggressive growth strategy.

Berger Paints India surpassed ₹10,000 crore in sales and ₹1,000 crore in profit to mark a landmark milestone in 2023-24.

Certus Capital, an institutional real estate investment business, invested more than ₹400 crore in three real estate finance deals. The company plans to spend ₹1,000 crore via secured loan in fiscal year 2024-25.

Kiran Gems' managing director, Mavjibhai Patel, bought a magnificent sea-view flat at Oberoi 360 West, situated in South Mumbai's affluent Worli neighbourhood, for over 97 crore. The transaction, recorded on April 29, included a stamp duty payment of almost ₹5.84 crore.

Environmental organisations say a 600-meter bund near DPS Flamingo Lake violates Coastal Regulation Zone (CRZ) standards and a Bombay High Court ruling. The local NGO NatConnect Foundation complained to the chief minister and the High Court-appointed mangrove preservation and conservation committee.

In Mumbai's Ghatkopar, a 250-tonne illegal advertising hoarding toppled upon a gas station owing to harsh weather, killing 14. The accident occurred at 96 kmph, according to the Indian Meteorological Department (IMD). 74 people were rescued from the rubble.