Arihant Superstructures Invests 400 Crores in its New Project in Kalyan
Arihant Superstructures Limited, a leading real estate company, is excited to announce the launch of its new project, Arihant Aaradhya in Kalyan. This luxurious residential project is designed to offer residents a unique living experience with an artificial sea beach and facilities. Arihant Superstructures plans to invest 400 Crore in its new project in Kalyan with 1050 flats.
One of the main highlights of Arihant Aaradhya is the unique artificial sea beach, which is the first of its kind in the region. The beach is designed to provide a relaxing and rejuvenating experience to the residents, with white sand, palm trees, and a clear blue pool that creates the illusion of an ocean. The beach area is equipped with cabanas, sun loungers, and providing the perfect spot for residents to unwind and enjoy a tropical paradise.
Arihant Aaradhya a new residential project in the heart of Mumbai. Spread over 7 acres, the project offers a range of apartment options to suit various needs and budgets Arihant Superstructures Ltd, a well-known real estate brand, has launched a new affordable housing project on the Ring Road of Kalyan, connecting Bhiwandi and Titawala, at Baapgoan opposite Khadakpada. The project offers luxury amenities at an affordable price point, making it an attractive option for potential homebuyers. In its initial launch, the project has already sold 350 flats and is now scheduled for a second round of sales. With the promise of reliable and trustworthy construction, the project has garnered a lot of attention from those looking for affordable yet premium living options in Mumbai. The 1BHK apartments start at 31 lacs and the 2BHK apartments are priced at 45 lacs, making them half the rate of similar properties in Kalyan. The construction of the project is currently in full swing, and it is expected to be a popular choice for those looking to invest in Mumbai’s real estate market.
“Arihant Aaradhya is a unique project that offers a luxurious living experience with a range of world-class amenities. The artificial sea beach and facilities will provide residents with a refreshing and exciting way to relax and stay active, making Arihant Aaradhya the perfect place to call home.
In addition, The proposed infrastructure development around Arihant Aaradhya is an added bonus for investors and homebuyers. The new railway station and the Kalyan Ring Road will make the area more accessible and convenient for the residents. It will also increase the value of the investment, making it an attractive opportunity for those looking for long-term investment options.
With its luxurious amenities and strategic location, Arihant Aaradhya is set to redefine the residential landscape in Kalyan and provide residents with a truly unique living experience. The project is expected to be completed by 2025 and is already generating significant interest from homebuyers and investors in the region.
India Sotheby’s International Realty facilitates sales of properties worth $450 million in FY23
India Sotheby’s International Realty facilitated sales of properties worth $450 million (around Rs.3,700 crore) in the last fiscal, up 50 per cent annually, driven by a surge in demand of ultra luxury homes. The company, which focuses primarily on luxury residential sales and large capital market property transactions, had facilitated property transactions worth $300 million in the previous year. Real estate consultant India Sotheby’s International Realty also announced that Amit Goyal has been designated as Managing Director for India, Sri Lanka and Maldives, and Ashwin Chadha designated as CEO for the region.
“We have achieved 50 per cent growth in transactions value closed by us during the last fiscal. Post-Covid, there has been a surge in demand for luxury properties and prices have also appreciated,” Goyal told reporters here. He mentioned that investors have also returned to the market, seeing a rise in prices.
Asked about the company’s own revenue in terms of consultancy fees, Goyal did not disclose the number but said that it also grew by 50 per cent. Out of the total property transactions, Chadha said around 92-93 per cent were in residential segment while the rest in commercial properties and capital market property transactions.
He highlighted that 85 per cent of the transactions concluded by the company pertained to secondary (resale) property markets.
Geographically, the company said 60 per cent of the transactions were in Delhi-NCR market followed by Mumbai, Goa, Kolkata and Bengaluru. International markets contributed around 10 per cent to the business.
Some of the big-ticket sales achieved in FY23 include a Kautilya Marg bungalow which was listed at Rs 150 crore, luxury floors at Malcha Marg listed at Rs 80 crore, two farmhouses at the outskirts of South Delhi with listing prices of Rs 110 crore and Rs 85 crore, a bungalow at at Friends Colony West (Delhi) with a listing price of Rs.70 crore, luxury floors at Golf Links with a listing price of Rs.70 crore, villa in Goa listed at Rs.42 crore, super luxury flat in Mumbai’s Bandra West with a listed price of Rs.45 crore. “Large business families, CXOs, professionals, and startup founders looking for a bespoke lifestyle make up the customer profile for luxury homes marketed exclusively by India Sotheby’s International Realty,” Goyal said. Additionally, India Sotheby’s International Realty grew its work force by over 40 per cent with a current team of around 80 professionals from private banking, luxury, hospitality and real estate. The firm has a presence in New Delhi, Mumbai, Kolkata, Bengaluru, and Goa, along with Colombo in Sri Lanka.
Kolkata to get World Trade Centre
The World Trade Center Association (WTCA) and the Merlin Group have partnered to develop a World Trade Center (WTC) in the Nabadiganta Industrial Township Authority (NDITA) area, Salt Lake, Kolkata at an outlay of Rs.1,500 crore. This is the first under-construction World Trade Center in eastern India.
The WTC will spread over 3.5 million sq-ft and incorporate World Trade Center branded services such as trade information, trade education, research, inbound & outbound trade missions, business services, tenant services, international business club, conference facility, convention and services, exhibition facility and IT/ITes offices. It will also house a five-star hotel, F&B outlets, as well as entertainment facilities. It is expected to generate close to 30,000 jobs.
The proposed WTC is expected to attract business from overseas countries and also promote trade and business through 320 WTCs spread over nearly 100 countries across the world. It will facilitate collaboration with international trade bodies and investors through other WTC members.
INOXCVA begins construction of Rs.200 crore cryogenic equipment manufacturing facility
Cryogenic storage, distribution and re-gas solutions provider INOXCVA, has initiated the construction of its Rs.200 crore manufacturing facility at Savli in Vadodara, Gujarat.
The greenfield project spread over 30 acres, will have the capacity to fabricate over 20,000 MT per year of stainless steel equipment, thereby making it India’s largest cryogenic equipment manufacturing facility. It will bring in an investment of Rs 200 crore and generate employment opportunities in the state.
The facility will produce over 2500 cryogenic equipment annually, which is equivalent to doubling the cryogenic equipment manufacturing capacities of the entire cryogenic industry in the country. Once commissioned, the facility will enhance the production capacity for cryogenic tanks which offers numerous green fuel applications for liquid hydrogen and LNG. Moreover, this will build improved capabilities in providing storage and transportation solutions for cryogenic gases like liquid nitrogen, liquid argon, liquid carbon dioxide and liquid medical oxygen. This, in turn, will create an improved medical infrastructure in India, while also aiding India’s green energy adoption.
Cryogenic tanks store natural gases and can store the materials at the right temperature and pressure to enable transportation.
WABAG bags Rs.4,400 cr seawater desalination project in Tamil Nadu
Water treatment company Va Tech Wabag (WABAG) has bagged a Rs.4,400-crore seawater reverse osmosis project in Tamil Nadu which after completion would be the largest sea-water desalination project in the South East Asia region. The project has been bagged in a joint venture with Metito Overseas Ltd and will be implemented on a design, build, operate (DBO) model.
“WABAG with JV partner Metito Overseas wins a seawater reverse osmosis project from Chennai Metropolitan Water Supply and Sewerage Board. The Rs.4,400-crore is South East Asia’s largest ever sea water desalination with capacity of 400 MLD project funded by JICA,” it said.
This DBO order includes the scope of design, engineering, procurement, construction, installation, testing and commissioning of the 400 MLD (million litres day) SWRO desalination plant and the associated seawater intake system over a period of 42 months followed by 20 years of operation & maintenance (O&M).
This project when completed will be the largest desalination plant in the South East Asian Region. The project is being funded by Japan International Cooperation Agency (JICA) and will enhance the water security for Chennai through a stable source of drinking water in the form of Desalination.
Shailesh Kumar, CEO – India Cluster, WABAG, said, “WABAG has won this order against global competition… This puts WABAG on an inclined growth path for the future.”
The project when completed will not only be a landmark project for WABAG, but a testament to Tamil Nadu’s commitment to building water security for Chennai and the state, making it a model for the whole country, he added.
WABAG offers a complete range of technologies and services for total water solutions in both municipal and industrial sectors in 25 countries of 4 continents.
UK Realty Launches Two New Residential Projects in Mumbai worth Rs.3000 crores
- UK LUXECITY in Kandivali East aims to upgrade the lifestyle of residents with unparalleled convenience and views of a stunning natural environment.
- UK IONA in Andheri to provide Mumbaikars with luxurious and sustainable living with a carefully designed zero-waste space residential area.
UK Realty, one of the leading builders has recently announced the launch of two new projects that are set to redefine owning a home in Mumbai – UK LUXECITY & UK lONA. UK Realty intends to invest over 3000 crores towards their completion.
UK LUXECITY, Phase II is spread across 3.5 acres of land in Kandivali East and offers Vastu-compliant 1 BHK compact, 1 & 2 BHK residences with stunning views of lush green hills and cityscapes. The township features multiple engagement zones where residents can enjoy their free time from home, making it the perfect place to upgrade your lifestyle. UK Realty is planning to invest 700 Cr in Phase II and 2100 Cr in the upcoming phase III. Below are certain pointers on why they’ve chosen Kandivali as their preferred location.
Located in the promising region
Well-connected location surrounded by a wide range of social and cultural hotspots.
Upcoming coastal road project
30+ amenities
On the other hand, UK lONA, located in Andheri (East), is designed with zero waste space to ensure that every square foot is well-utilized with minimal waste of space. The project caters to every necessity and offers a breathtaking view of the surrounding area. With Andheri East being the center of Mumbai’s residential, commercial, and industrial development, UK lONA provides the perfect opportunity for influential living. It will attract an investment of Rs. 200 crores. Additionally, UK IONA has:-
18+ amenities
Zero waste space
Well-connected location
Metro stations and JVLR Road
Construction area of 221782.43 Sq. Feet
Commenting on the launch, Dinesh Bansal, Chairman of UK Realty said,” We are delighted to launch these two projects that represent the best of aspirational residences in Mumbai. Our aim has always been to offer our customers the finest comfort and convenience. UK LUXECITY and UK IONA showcase our commitment to excellence. UK LUXECITY’s Vastu-compliant residences and abundant amenities create a peaceful and harmonious living environment that is difficult to find in Mumbai. The township’s engagement zones offer residents a perfect place to unwind and enjoy quality time with their families and friends. UK IONA also offers residents an impeccably designed living space that maximizes every inch of the area, ensuring zero-waste space. This feature alone makes UK IONA stand out from most other residential projects in the area. We are confident this will exceed our customers’ expectations and offer them a lifestyle they have always dreamt of. UK Realty’s new projects aim to emphasize on high-end living spaces in Mumbai by providing world-class amenities and value to enhance the daily living experience.
Patel Engineering Wins Major Contract For India’s Largest Hydropower Project
Patel Engineering Ltd, in the joint venture, has been declared L1 for a civil works package relating to NHPC’s 2,880-MW Dibang multipurpose project in Arunachal Pradesh. Patel Engineering and its joint venture with an unnamed partner has been declared L1 for a Rs.3,637.12-crore contract relating to the Dibhang project, said to be India’s largest hydropower project by current thinking.
Patel Engineering has a share of 50 per cent the joint venture. The company’s share in the contract value is Rs.1,818.56 crore, and the completion period is 86 months.
The contract relates to civil works for Lot-4 and covers head race tunnels including intake, pressure shafts, penstocks, powerhouse and transformer cavern, tail race tunnels, pothead yard, adits, etc.
Shaping India’s Infrastructure:
According to Rupen Patel, Chairman & Managing Director, Patel Engineering, “We are extremely happy and thrilled to be a part of this mega project which will help shape India’s infrastructure as well as contribute to the local surroundings, the people there and the state of Arunachal Pradesh. The Company is currently executing other projects as well in the same state and our experience will help give us an advantage in executing this project.”
CCEA Clearance:
In late February this year, the Cabinet Committee on Economic Affairs (CCEA) accorded approval for incurring an expenditure of Rs.1,600 crore on pre-investment activities and various clearances for the Dibang multipurpose project in Arunachal Pradesh, being developed by NHPC Ltd. With an installed capacity of 2,880 MW, coming from 12 units of 240-MW each, the Dibang project in Arunachal Pradesh is India’s largest hydropower scheme, by current thinking. The total estimated project is Rs.28,080 including interest during construction (IDC) and financial charges of Rs.3,975 crore at the June 2018 price level.
The estimated completion period for the project shall be nine years from receipt of government sanction.
The project shall generate 11,223 million kWh (MU) of energy in a 90 percent dependable year. The envisaged dam is 278m high – the tallest in India.
Ashoka Buildcon Wins RDSS Orders In Bihar
Ashoka Buildcon has reported the winning of two orders related to the Revamped Distribution Sector Scheme (RDSS), aggregating over Rs.600 crore, in Bihar. The two orders have been placed by state-owned power distribution companies in Bihar, and have an aggregate value of Rs.631.54 crore. In independent stock exchange filings, Nashik-based Ashoka Buildcon said that the first order was received from South Bihar Power Distribution Company Ltd (SBPDCL) for development of distribution infrastructure at electric supply circle PESU (East) and electric supply circle PESU (West) of Bihar under RDSS. The order value is Rs.264.87 crore.
The second order, placed by North Bihar Power Distribution Company Ltd relates to development of distribution infrastructure at Muzaffarpur electric supply circle (Muzaffarpur, Sitamarhi And Sheohar Districts), also under RDSS, for a project value of Rs.366.67 crore.
Mahindra Logistics, Ascendas-Firstspace to set up 1 mln sq ft warehouse park in Pune’s Talegaon
Mahindra Logistics and Ascendas-Firstspace are planning to set up a 1 million sq ft multi-client warehouse park in Pune’s Talegaon in three phases. The first phase of 0.5 million sq ft will be operational by the end of 2023-24. At the Ascendas-Firstspace Pune Talegaon-II Logistics Park, spread over 40-acres, this is the second project in the micro-market of Ascendas-Firstspace. Talegaon-II is part of the Chakan Talegaon Industrial Corridor (CTIC), which is one of the most important manufacturing clusters in India. The area has been a traditional manufacturing base for large auto, engineering, and electronics companies. The CTIC corridor is currently witnessing significant growth on account of the success of the Make in India program. For Mahindra Logistics, this will be an important part of MLL’s pan-India network of multiuser facilities, in a strategic industrial cluster. In addition to A-grade warehousing capacity of one million square feet, the facility will also host MLL’s first Automation Technology Centre that focuses on development and deployment of automation technologies on Artificial Intelligence, Internet of Things (IoT), Robotics & Automation, ARVR, AGVs and Block-Chain. Rampraveen Swaminathan, Managing Director & CEO, Mahindra Logistics, said, “The Chakan region is one of India’s leading industrial & consumption clusters. The region is the largest area for Mahindra Logistics, and we are pleased to announce this investment in partnership with Ascendas-Firstpace.”
“The one million SFT facility will allow us to further expand our range of Integrated solutions for key customers in the area, and provide world class, technology enabled solutions. The site will also host our first Automation Technology Centre and focus on DEIA talent development. Designed to be an IGBC/LEED certified facility per our vision to carbon neutral by 2040.”
DLF Record Sales of Over Rs.8,000 Crore In Just 3 Days
DLF, logs pre-formal launch sales of Rs8,000+ crore for The Arbour, a luxury high-rise residence located at DLF Sixty-three on Golf Course Extension in Sector 63, Gurugram. The Arbour, DLF’s entry into the micro market at Golf Course Extension, was completely sold out within three days of its launch. The luxury neighbourhood spans 25 acres and features five iconic towers that rise up to 38/39 stories. It consists of 1137 identical 4 BHK + study + utility room configurations that are well-appointed, spacious, and elegant, with prices starting at Rs7 crore per unit. Aakash Ohri, who is the Group Executive Director and Chief Business Officer at DLF Ltd., expressed his gratitude for the overwhelming response received by their latest luxury offering called ‘The Arbour’. He stated that even before the launch of the product, the interest shown by homebuyers, both in India and abroad, has been exceptional. He believes that this is a testament to the DLF’s highly coveted lifestyle, which is aspired by many. Additionally, he noted that this product could potentially become the new benchmark in the luxury real estate sector. Mr. Ohri also highlighted that more than 95% of the buyers of The Arbour are individuals who plan to use it for their own residences. The residences at The Arbour are designed to be bold and opulent, with thoughtful touches such as spacious decks to maximize light and fresh air and ensure unobstructed views across the verdant greens. The Indian Green Building Council (IGBC) has pre-certified the Arbour with a platinum (highest) rating.
Metropoly presale continues to attract investors, funds raised cross $800k
The crypto community often highlights the elimination of intermediaries, associated expenses and delays as a way to disrupt different industries. Real estate, being one of the oldest and most complicated industries with its bureaucratic procedures and paperwork, is frequently mentioned as an ideal sector for transformation. Metropoly, an NFT project, aims to tackle the obstacles of the real estate industry by utilising digital technology. This article examines the operations of Metropoly and the potential advantages for users, such as opportunities for generating passive income. The global real estate market had a value of $6.8 trillion in 2021, experiencing a compounded annual growth rate (CAGR) of 1.9%. This growth trend is expected to continue, making the industry an attractive investment opportunity. In the US, the market was valued at $3.69 trillion in 2021, and it is projected to expand at a CAGR of 5.2% from 2022 to 2030. Presently, the house-to-income ratio in the US stands at 7.71, surpassing the ratios observed during the 2008 housing bubble and the pre-2000 ratio of approximately 4.4. To avoid pricing out significant segments of the population from the housing market, this trend needs to be reversed.
In the past few decades, real estate investment has remained attractive, but numerous challenges have emerged. One significant challenge is the increasing financial and bureaucratic hurdles to entry, which make it challenging for individual investors to enjoy the advantages of real estate ownership, such as security and opportunities for passive income. Undoubtedly, the real estate market needs transformation, and blockchain technology has the potential to eliminate the entry barriers that have impeded progress. Blockchain is among the most discussed cryptocurrency applications, and Metropoly is at the forefront of this revolution.
L&T-SuFin to help Credai-MCHI members source materials digitally
L&T-SuFin has signed an MoU with the Confederation of Real Estate Developers’ Associations of India (CREDAI) – Maharashtra Chamber of Housing Industry (MCHI) to create a one-stop digital shop for procurement pertaining to the real estate sector in Mumbai and the Mumbai Metropolitan Region (MMR).
The new partnership will enable Credai-MCHI’s members to procure building and construction materials and access related services digitally through the L&T-SuFin platform, in a convenient, cost-effective, and efficient manner. SN Subrahmanyan, L&T, said, “L&T-SuFin is the only tech-enabled B2B platform that aims to make the procurement experience of real estate developers of Mumbai and MMR easy and cost effective with financing options.”
Boman Irani, president, Credai-MCHI said, “The initiative of providing best quality products to our developers will help our members an easy access to a wide range of products for construction.”
Deloitte inks one million square feet of office lease in Bangalore
Deloitte, a Big Four firm, has inked deals with Prestige Group and Salarpuria to secure three office spaces spanning 1 million sq ft in a bid to bolster its operations in Bengaluru. The firm has leased around 500,000 sq ft of office space at Prestige Tech Park on Outer Ring Road and over 460,000 sq ft in SalarpuriaAura and Eminence in Bengaluru.
JSPL To Come Up With Fire-Resistant Steel
Jindal Steel and Power Ltd (JSPL) announced that it would produce the country’s first steel structures that are fire-resistant.
The company will target markets like refineries, bridges, metro projects, industrial structures, steel, power plants, hospitals, commercial, and residential buildings, according to a statement from JSPL.
This will be the first time a particular steel grade is produced in India. ‘In its rail mill in Chhattisgarh, JSPL has received BIS certification to produce the country’s first fire-resistant steel structures. The structural steels of BIS 15103 grade are intended to withstand temperatures of up to 600 degrees Celsius for three hours ‘ the statement read. Currently, the grade is imported.
According to the company, the new grade steel constructions will contribute to reducing the country’s reliance on imports.
‘The company’s license will fundamentally alter how India’s infrastructure and safety standards are built. The end consumers would receive much-needed assurance from fire-resistant steel, helping to create a safer AtmaNirbhar Bharat ‘Bimlendra Jha, MD of JSPL, remarked. Being a member of the OP Jindal Group, JSPL is a titan of the industrial world, dominating the steel, mining, and infrastructure industries with global investments totalling $12 billion.
HDFC Capital Invests Rs.1,450 Crore In Kalpataru
HDFC Capital has invested Rs.1,450 crore in realty developer Kalpataru’s portfolio of projects and land parcels in one of the largest investment deals in the residential sector.
The funds obtained by Kalpataru will be channeled towards constructing residential complexes in upcoming mid-income ventures as well as providing assistance to finalize ongoing projects in the Mumbai Metropolitan Region and Pune. According to insiders, the deal has been concluded and the disbursement of funds has been scheduled for the designated projects, which will commence shortly. The chosen projects have a promising scope for development and high visibility for sales, as mentioned by the sources. HDFC Capital, a subsidiary of mortgage lender HDFC Ltd, is India’s largest residential fund manager. Kalptaru has a presence in nine cities and has completed 110 projects totaling more than 24.1 million square feet in the residential, commercial, and retail sectors. In India, HDFC Capital has been a leading investor in low- and middle-income housing projects. It provides long-term, flexible funding for projects in these segments throughout their lifecycle, including early-stage funding.
Ashiana Housing Ltd emerges H1 bidder in eAuction of land in Manesar, Gurugram
Ashiana Housing Ltd has announced that Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) have confirmed us as the Highest Bidder (H1 Bidder), in an e-Auction organized by them, for the allotment of 43,708 sq. mtrs. of land for residential project in Manesar (Gurugram). This land located at Naurangpur Road, Sector 80, Gurgaon-122004, would be utilized for the group housing project and has approximate saleable area of 10.30 lakh sq. ft.
