Author: RM Bureau

Double win for Vedanta Aluminium & Power Business at the 59th ABCI Awards

New Delhi, January 13, 2021: Vedanta Aluminium & Power Business, India’s largest producer of the aluminium and value-added products, has won coveted awards at the recently concluded 59th Association of Business Communicators in India (ABCI) Awards 2020. The Aluminium & Power Business bagged the Bronze Award for ‘PR Campaign for Reviving Dhokra Art’ under Social Responsibility Communication...

Mahindra Lifespaces® strengthens executive team with appointment of Sudharshan KR as Chief Projects Officer

Mumbai, January 13th, 2021: Mahindra Lifespace Developers Ltd., the real estate and infrastructure development arm of Mahindra Group, today announced that it has appointed Sudharshan KR as Chief Projects Officer.  Sudharshan will oversee the construction of all Mahindra Lifespaces® projects pan India. He will be responsible for implementing strategic initiatives across the project construction lif...

Affordable was the choice in 2020, and will remain so in 2021

Despite the lower-than-normal sales traffic in the real estate sector, the affordable segment has emerged as the hot cake for the wannabe homebuyers. Post-Unlock, the segment witnessed improvement in the number of visits to the site, and the properties sold immediately first because of the pent-up demand and realisation of people to own their home, the boost in sales got further boost when home lo...

Installation of modular steel structure begins at Omaxe Chowk

New Delhi, January 12, 2021: The installation of modular steel structure has begun in Omaxe Chowk, a multi-level parking cum commercial project in Chandni Chowk. The modular steel structure has been sourced from India’s leading steel company Jindal Steel and Power Ltd (JSPL). To expedite construction and provide durability and strength to the structure, the company is using advanced construction t...

Investors Clinic clocks a record breaking sale of 350cr for Migsun Project

Investors Clinic achieved this feat just in three days New Delhi, January 12, 2021: Investors Clinic (IC), India’s one of the leading real estate consultancy firms, marks a milestone of achieving bookings worth INR 350 crore in a record breaking time. Investors Clinic sold Migsun Jorbagh’s offered inventories of residential plots and retails in less than 72 hours. This is the first breakthrough fo...

National Youth Day: M3M Foundation committed to transforming the lives of the youth

Gurugram: Youth is a great asset to the nation. India is blessed to possess the advantage of a demographic dividend. If channelized efficiently, this massive talent pool can contribute to economic development. M3M Foundation, a philanthropic arm of M3M Group is committed to transforming the lives of the marginalized youth through its various initiatives. The Foundation also plans to set up a Skill...

Mahindra Lifespaces® and State Bank of India sign MoU

Partnership to deliver enhanced value to customers and employees of both companies New Delhi, January 12, 2021: Mahindra Lifespaces®, the real estate and infrastructure development arm of Mahindra Group, and State Bank of India (SBI), India’s largest home loan lender, today signed a Memorandum of Understanding (MoU) to enable an improved and more seamless experience for homebuyers across India.  A...

~73,560 Stuck Homes Completed in 2020 Despite COVID-19, Max in MMR

As on 2019-end, 1,322 projects comprising ~5.76 lakh units (launched in 2013 or before) were stuck in various stages of (non) completion in top 7 cities; by 2020-end, this reduced to 1,132 projects comprising ~5.02 lakh units Total value of present stuck/delayed housing stock is more than INR 4.07 lakh Crore Despite all-round upheaval by COVID-19 in 2020, developers stayed on completion track amid...

India’s Largest Conclave for Senior Care to focus on post-COVID era challenges – Association of Senior Living India (ASLI) 3rd ASLI Annual Senior Care Conclave 2021

3 day-long conclave to include expert sessions, panel discussions, online exhibition for a constructive dialogue and offer solutions around senior care Brahma Kumari Sister Shivani to share her outlook on overall health and happiness at the conclave Conclave to witness congregation of knowledge leaders and over 200 key stakeholders across Government, senior living operators, healthcare organizatio...

2020 Ends on a positive note for realty with improvement in new supply and inventory sales: PropTiger report

National, January 11, 2021: New homes supply and sales showed a significant improvement in the fourth quarter of 2020 (Oct – Dec) in line with the ongoing economic recovery with government’ initiatives and increased market confidence providing an added growth impetus. “All factors considered, the sector has shown remarkable tenacity in 2020 against unprecedented odds that have caused the eco...

Chavda Infra Launched its RMC Production plant in Gujarat

India, 11th Jan 2021: CHAVDA Infra Pvt. Ltd. an India’s Leading fully-integrated construction company, with a legacy of bringing 30 years of world-class engineering & research in the real estate industry, have launched its new ready-mix concrete (RMC) plant in Gujarat, India. Equipped with German technology & machinery, CHAVDA’s RMC plant allows brisk construction through mapped delivery p...

Vedanta Aluminium wins ‘Most Innovative Best Practice’ Award for Digital Smelter Project

New Delhi; 09 January, 2021: Vedanta, India’s largest producer of Aluminium and value-added products, bagged the ‘Most Innovative Best Practice’ Award at the Digital Transformation (DX) Summit & Awards 2020. Organized by CII – Centre for Digital Transformation (CDT), the DX Award provides a prestigious platform for the industry’s best to showcase superlative efforts and achievements in the rea...

Elan Group organizes Sanitization & Hygiene Awareness Campaign with Distribution of Blankets, Hygiene Care Good and Clothes

The initiative was aimed at construction workers and their families at Gurugram Gurugram, 9th January 2021: Elan Foundation, a philanthropic arm of commercial realty developer Elan Group, organized a Sanitization & Hygiene Awareness Campaign with distribution of Blankets, Hygiene Care Goods and Clothes for onsite labourers and their families at Elan Miracle, Sector 84, Gurugram. The drive was ...

50% of Real Estate Cases Under IBC Closed in 2020

SWAMIH Fund has already sanctioned INR 12,079 Cr for over 81,000 units across 123 projects in the country By 2019 end, nearly 5.76 lakh units (launched in 2013 or before) valued at over INR 4.64 lakh Cr were delayed/stalled in 7 major cities In Jul-Sept. 2018, of 209 real estate CIRPs, just 33% were closed; by Jul-Sept. 2020, 50% of 793 cases are closed   Shobhit Agarwal, MD & CEO – ANAROCK Ca...

Maharashtra Cabinet Approves 50% Reduction in Premiums Recovered From Real Estate Sector

Anuj Puri, Chairman – ANAROCK Property Consultants As per the Deepak Parekh committee, as on date there are as many as 22 premiums collected in Mumbai under various heads – including FSI, staircases, lift well, lobbies, etc. This is significantly higher than in all other comparable top cities in the country. For instance, in Bengaluru developers have to pay 10 different premiums and charges,...

L&T Hydrocarbon Engineering Awarded (Large*) Offshore Contract from ONGC

Delhi, January 07, 2021: L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, has secured a Contract from Oil & Natural Gas Corporation (ONGC) for their new Living Quarter (LQ) & Revamp at ‘NQ Complex’ (NLRNC-RT2) Project. The EPCIC contract involves Engineering, Procurement, Construction, Installation and Commissioning of a new living quarter platform,...

Maharashtra Cabinet approves proposal to cut real estate premiums

Dr. Niranjan Hiranandani, President NAREDCO State cabinet approves reduction in premium for real estate projects- While reacting to the breaking news of State cabinet to approve Reduction in Premiums, Dr. Niranjan Hiranandani, President NAREDCO gladly said that, “It is a great bolstering move made by the state government by sealing approval to reduce premiums by 50% under the new DCPR rule 2034 ac...

The Gera Pune Residential Realty Report July 2020 to December 2020

Sales back to pre-COVID levels, Affordability at an all-time high leading to rising prices and increase in share of top developers Pune, January 6, 2021: Gera Developments, pioneers of the real estate business and the award-winning creators of premium residential and commercial projects in Pune, Goa, and Bengaluru, today released the January 2021 edition of their bi-annual report, The Gera Pune Re...

hBits signs strategic partnership with SMC Real Estate Advisors

hBits aims to close the financial year 20-21with INR 100 crores Mumbai / New Delhi, January 06, 2021:hBits, the real estate company offering fractional ownership (FA) to investors, today announced that the company has signed a strategic partnership with SMC Real Estate Advisors. The partnership will offer access for fractional ownership to more than 1.4 million investors already associated with SM...

Real Estate’s Expectations from 2021-22 Union Budget

Anuj Puri, Chairman – ANAROCK Property Consultants Have the government and RBI done enough to bail out the economy – and, by implication real estate? After all, the realty industry remains one of the most precise bellwethers of the state of India’s economy. While the country waits for the first vaccines to roll out, Union Budget 2021-22 presents several opportunities to give the ...

Kamdhenu Group operations back to pre-Covid levels

Resumes 100% of its Steel TMT bars manufacturing capacity across the country New Delhi, 6 Jan, 2021: Kamdhenu Limited, a well-diversified group in steel and paint, has resumed its production capacity of branded TMT bars to pre-Covid levels in the wake of recovery in the demand of steel products. Kamdhenu Group has a unique franchisee model for manufacturing units and currently having more than 75 ...

Gaurs Group offers possession of 5500 units since opening of lockdown, plans another 1500 by March 2021

New Delhi, January 05, 2021: Gaurs Group, one of the leading real estate developers of India, announced that it has offered around 5500 units since the lockdown, and plans to offer another 1500 units for possession by March 2021. The units offered for possession post lockdown included apartments, plots, shops and office spaces across their projects located in Noida. Commenting on the commendable d...

GIFT City continues its development spree, allots 10 lakh sq ft to Savvy Infrastructure Pvt. Ltd.

Savvy to develop commercial, residential and social buildings in GIFT SEZ. The developer will make Rs. 700 crores investment bringing the total investment with their current commercial tower to Rs 1000 crores in GIFT City. This will lead to fresh direct employment of around 8000 people; in addition to the 3000 people who will be employed in the existing commercial tower which is almost fully lease...

2020 ends on a positive note with average prices for residential segment increasing by ~1% in Q4 2020, reveals Magicbricks PropIndex

Prices for under-construction properties rose by 2% Property search volumes remain elevated at 30% above the pre-COVID level Noida, January 5, 2021: Notwithstanding the uncertainties caused by the pandemic, 2020 ended on a positive note for the real estate sector with average prices increasing by ~1% in Q4 2020 reveals Magicbricks’ latest PropIndex for the quarter of October-December (Q4) 2020. Wh...