Sattva fortifies its presence in Bangalore’s thriving Residential Cluster with the launch of “La Vita”
Leading property development, management, and consulting company, Sattva Group, today launched its prestigious Sattva La Vita project—a collection of stylish Row Houses in Bengaluru’s Hennur Road a burgeoning area, marking the beginning of a new chapter in the company’s growth and development journey. The new venture signifies a bold step towards solidifying the company’s standing as an innovator in the luxury home segment. The property aims to offer a blend of contemporary design with timeless elegance and create iconic landmarks that resonate with modern homebuyers.
Shivam Agarwal, VP – Strategic Development, Sattva Group said, “North Bengaluru is brimming with opportunities. Trends have indicated an upswing in people’s interest in the locality, with several development projects over the past years, giving the area an appealing gloss and inviting homeowners to move away from the bustle of the city centre while enjoying the same quality of life. Sattva’s La Vita aims to elevate a sense of luxury, along with independence and privacy, giving homeowners the experience of more space and freedom, without sharing walls with their neighbours. The location’s proximity to the airport is an important corridor and offers us the possibility to build viable projects surrounded by constant growth. Sattva La Vita bears all the hallmarks of our three-decade realty expertise and will blend seamlessly with the area’s soaring ambitions.”
Recent industry reports establish North Bengaluru as a sought-after residential destination, attracting homebuyers with its promising prospects and unparalleled lifestyle offerings. The project’s proximity to hotspots like the airport, Bhartiya Mall of Bengaluru, Byg Brewski Brewing Company, The Leela Bhartiya City, and arguably Asia’s biggest pub—Oia—elevate the property’s desirability in terms of convenience, quality of life and entertainment. Besides, Hennur offers easy entrance to the rest of the city, lying within an hour of central Bengaluru. With its growing stature, Hennur is already laying claim to being among the city’s more appealing commercial spots; Sattva La Vita will open up world-class living befitting the area by staying true to Sattva’s vision of providing dream homes that resonate with people’s most demanding expectations.
Comprising 63 supremely elegant Row Houses—each with a spacious built-up area of 3,266 sq ft—and situated on three acres of pristine land, Sattva La Vita encompasses an exclusive township, offering community living without compromising on individual privacy. Each Row House contains 4 bedrooms, a gym, an entertainment and family lounge spread over three levels, with independent walls. The homes are appointed tastefully and full of features, keeping in mind prospective homeowners’ desire for the best in design and amenities. The project emphasises natural space, giving residents private gardens, a large backyard and an open terrace. Care has been taken to make the project sustainable, with responsible development integral to its construction. Notably, in this regard, Sattva La Vita is a vehicle-free project—its various walkways will have zero vehicle movement. Sattva La Vita’s highlights include a massive 9,700 sq ft clubhouse that houses a swimming pool, a party hall, a gymnasium, a kids’ play area, hobby areas, and a library. Indeed, Sattva La Vita offers ultimate living in an ideal location.
White Lotus Group targets Rs.1200 Cr Revenue in FY’24
White Lotus Group, a renowned bespoke luxury real estate player in Bangalore, recently unveiled plans for its latest villa projects in North Bangalore Area. Led by IIT alumnus Pavan Kumar, the company is set to redefine personalised luxury living with this exceptional concept development, estimated to generate a revenue potential of Rs.1200 crore.
Spanning a vast 1 million square feet, these timeless projects embody White Lotus Group’s state-of-the-art “Personal Sanctuary” concept, which transcends traditional notions of living spaces. Residences here are meticulously crafted to serve as gateways to conscious personal exploration, expression, and evolution, offering a truly unique and soulful experience tailored to the discerning tastes of global travellers.
Building on its reputation for delivering bespoke luxury, White Lotus Group has consistently pushed boundaries with projects like Aravindaksha, Kalpavriksha, Amaranta, Anora, Ohana, and Tamara. These projects have set new standards for curated luxury living, blending design excellence with intuitive customer insights to meet the expectations of sophisticated global citizens.
Moreover, White Lotus Group’s asset-light business model, which prioritizes joint developments with strategic partners, ensures long-term value creation for all stakeholders.
White Lotus Group recently secured a substantial funding round of Rs 150 crore from Dubai-based Luxe Port Group of Companies. This capital injection will fuel the company’s growth plans, strengthen its brand presence in Bangalore, and facilitate expansion into other major cities like Hyderabad, Pune, and Chennai. The funds raised will also be invested in technological innovation, sustainability initiatives, and strengthening the company’s leadership team.
Looking ahead, White Lotus Group, led by a fresh and new-age team comprising IIT and IIM alumni is poised for further expansion, with plans underway to create an additional 1.5 million square feet of bespoke luxury developments in North Bangalore, slated for launch in fiscal year 2025. Kumar reiterated the company’s commitment to partnering with professional landowners for joint developments, emphasizing a collaborative approach towards achieving future milestones.
Magicrete completes India’s first mass housing project in Ranchi; builds 1008 apartments utilizing the 3D Modular Precast Concrete Construction System
Magicrete, one of India’s frontline producers of AAC Blocks, Construction Chemicals, and Precast Construction Solutions, announced the successful completion of India’s first mass housing project in Ranchi utilizing the 3D Modular Precast Construction System. This project marks a significant leap forward in addressing the growing housing needs in India with speed, sustainability, and quality.
This project, which includes 1008 dwelling units, demonstrates cost parity with traditional construction methods while significantly reducing construction time by upto 40%. This not only makes housing more accessible but also showcases the potential of precast concrete technology to revolutionize the construction industry in India.
Sourabh Bansal, Managing Director of Magicrete said, “Magicrete remains committed to driving innovation and sustainable development in the construction sector, paving the way for a brighter future for India’s built environment.’’
‘’I am immensely proud of our team’s dedication in bringing India’s first mass housing project in Ranchi to fruition. This project not only addresses the pressing housing needs of the urban poor but also showcases the transformative potential of precast concrete technology in creating sustainable, resilient, and affordable housing solutions.”
Promising dignified living for the urban poor, the project will benefit 1,008 families with affordable and durable houses requiring low maintenance. These disaster-resilient safe houses will provide a healthy and green environment for better living. The project also ensures easy accessibility to public transport, health, education, and livelihood facilities, empowering communities and fostering inclusive development.
“Magicrete’s expertise in leveraging volumetric technology further enhanced the efficiency and quality of the housing units in the project. By reducing the number of elements and joints, ensuring a watertight structure, and expediting production and erection processes, the project exemplifies the potential of precast concrete technology in delivering superior housing solutions. Despite initial challenges related to land acquisition, the project was completed within 18 months, demonstrating Magicrete’s commitment to timely delivery and excellence in execution.”
In terms of materials, the project utilized Portland Slag Cement with a high percentage of Ground Granulated Blast Furnace Slag (GGBFS), reducing the carbon footprint by approximately 60%. Additionally, M-sand replaced traditional river sand in concrete production, contributing to sustainability efforts. The incorporation of rooftop solar, rainwater harvesting, solar street lights, and a sewage treatment plant further underscored the project’s commitment to environmental responsibility.
Magicrete has been at the forefront of modern construction technology in India for the past decade, contributing significantly to the ‘Housing for All’ initiative through its innovative yet affordable construction solutions. The company is spearheaded by a team comprising graduates from prestigious institutes such as IIT Kharagpur, IIT Delhi, and IIM Lucknow and is backed by notable investors including Motilal Oswal Private Equity, India SME, and Mukul Agarwal.
Mahindra Lifespaces Purchases 9.4 Acres of Land in Bengaluru for Housing Development
Mahindra Lifespace Developers Ltd recently revealed its acquisition of 9.4 acres of prime land in Bengaluru, signaling plans for a housing project expected to generate revenue of approximately Rs.1,700 crore.
The acquisition, disclosed in a regulatory filing, underscores the company’s expansion strategy within one of India’s bustling urban hubs. Located at Whitefield in Bengaluru, the newly acquired land boasts a potential Floor Space Index (FSI) of around 1.2 million square feet, translating to a gross development value of about Rs.1,700 crore. The project will predominantly feature mid-premium residential apartments.
Commenting on the development, Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace, Developers expressed enthusiasm about the company’s continued focus on Bengaluru as a key market. He emphasized the strategic significance of deepening their presence in India’s thriving urban centers, particularly within their focus markets.
Sinha affirmed the company’s commitment to delivering high-quality projects that resonate with Bengaluru’s discerning home buyers, citing their demonstrated appreciation for such offerings.
Anticipating swift progress, Mahindra Lifespaces aims to launch the first phase of the project within the next twelve months.
The company boasts a substantial development footprint, with completed, ongoing, and forthcoming residential projects spanning 35.06 million square feet across seven major Indian cities. Additionally, it manages over 5,000 acres of ongoing and upcoming projects at integrated developments and industrial clusters across four locations.
Jindal Stainless supplies stainless steel for India’s first stainless steel diagrid frame building in Chennai
Stainless Limited (JSL), India’s largest stainless steel manufacturer, has supplied stainless steel to India’s first diagrid structure, which serves as the new head office building of the United India Insurance Company Ltd (UIIC) in Chennai. The Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman, virtually launched the building from New Delhi recently. The iconic building is made with stainless steel frames which are connected to the central core through lateral beams. Redefying conventional construction, there are no columns in this structure, and these stainless steel frames serve as the main load-bearing structural in the building. A diagrid structural system is a framework made by the intersection of different materials like metals, concrete, or wooden beams. This landmark building standing on Mount Road, Chennai, boasts a distinctive double curvature profile with earthquake-resistant and energy-efficient features. Jindal Stainless supplied approximately 996 tonnes of 316 grade high-quality stainless steel for the construction of this new UIIC building. The 62-meter-tall edifice adheres to the Indian Green Building Council standards with due design approval from the esteemed Indian Institute of Technology (IIT) Madras and IIT Bombay. Commenting on this development, Abhyuday Jindal, Managing Director, Jindal Stainless said, “I am proud of my team that we are a part of this iconic building; it’s an architectural marvel in glass and stainless steel, and most certainly a feast for the eyes. Its aesthetic exteriors are buffeted by the load-bearing and disaster-proof attributes of stainless steel, which makes this structure resistant to corrosion and early ageing. As we progress towards the era of Amrit Kaal, this is the kind of advancement in infrastructure that we are bound to see. I congratulate the United India Insurance collective to make this bold start in India. And I assure India’s construction industry that we are here to innovate and tailor-make products for their cutting-edge projects.”
The launch was also attended by Secretary, Department of Revenue (DoR), Ministry of Finance (MoF), Sanjay Malhotra; Secretary, Department of Financial Services (DFS), MoF, Dr Vivek Joshi; Chairman, Central Board of Direct Taxes (CBDT); DoR, Nitin Gupta; Chairman, Central Board of Indirect Taxes and Customs (CBIC), Sanjay Kumar Agarwal; Additional Secretary, DFS; MP Tangirala; Chairman, State Bank of India (SBI), Dinesh Khara; and senior officials of Ministry of Finance.
Godrej Properties buys land in Hyderabad for Rs.1,300 cr housing project
Real estate developer Godrej Properties has secured a 3-acre plot in Kokapet, Hyderabad, to develop a residential project of 1.2 million square feet of saleable area with an estimated revenue potential of Rs.1,300 crore.
This is the company’s second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs.4,800 crore. The strategic acquisition is in line with the company’s strategy of developing “high-quality residential projects” across India’s leading real estate markets, Godrej Properties said.
The developer highlighted that the acquisition complements its expansion strategy, bolstering the company’s foothold in the country. “We are pleased to add another project in Hyderabad, which is amongst the largest and fastest-growing residential real estate markets in the country. We will aim to build an outstanding residential community that creates long-term value for its residents,” said Gaurav Pandey, Managing Director and Chief Executive Officer, Godrej Properties.
Situated near the Outer Ring Road junction and Golden Mile Road in Kokapet, the land holds immense potential in one of Hyderabad’s prime real estate hubs. Kokapet boasts a robust social and civic infrastructure, including schools, hospitals, and retail spaces, making it an attractive investment destination. Its strategic location ensures easy access to the Rajiv Gandhi International Airport and key social and commercial districts across the city.
In February, Godrej Properties made its debut in Hyderabad by acquiring a 12.5-acre land parcel in Rajendra Nagar for Rs.350 crore. The project is poised to offer a 4 million square feet saleable area and generate an estimated revenue of Rs.3,500 crore from residential assets.
In a recent acquisition, Godrej Properties secured a 6.46-acre plot in Noida for Rs.506 crore, earmarked for a housing project estimated to yield Rs.3,000 crore in revenue. Additionally, the company has initiated a joint venture for a 62-acre township project in Bengaluru, expected to generate Rs 5,000 crore in revenue, emphasizing its commitment to expansive growth and development.
Godrej Properties, a subsidiary of the Godrej Group, is present in the Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, and Pune.
Country Group Commits Rs.5,000 Crore for Luxury Housing Project in Noida
Real estate developer County Group announced its plans to invest Rs.5,000 crore over the next five years in its latest luxury housing venture, ‘Ivory County’, located in Noida. The ambitious project, spanning 28 acres in Sector 115 near prominent expressways including FNG Expressway, Noida Expressway, and Delhi-Meerut Expressway, marks the developer’s largest project in terms of area. With an anticipated sales realization of approximately Rs.7,500 crore, the investment will be sourced through a combination of self-funding, bank financing, and customer advances for bookings, according to a statement by the County Group.
‘Ivory County’ is set to offer a total of 2,372 units, developed across three distinct phases over the next five years. The project will feature both Luxury and Ultra-Luxury dwelling areas, with ‘Ivory County’ and ‘Ivory County Gold’ nestled within the project’s premises. The pricing structure for the project has been established at Rs.14,000 per square foot in ‘Ivory County’ and Rs.16,000 per square foot in ‘Ivory County Gold’, with unit sizes ranging from 2,034 square feet to 6,939 square feet, as outlined by the group. County Group has a track record of delivering successful housing projects including Orange County, Olive County, and Cherry County, along with notable projects like Noida’s first luxury offering Cleo County, Ivy County, and County 107, Noida’s first ultra-luxury project.
Godrej Properties to develop 62 acre township project in north Bengaluru
Godrej Properties recently announced its initiative to develop a township project in north Bengaluru, targeting a booking value of Rs 5,000 crore.
Being built under a profit-sharing model, the project is spread across 62 acres. The project will offer a 5.6 million square feet of saleable area comprising primarily premium residential apartments of various configurations. The project will cater to the aspirations of customers who are looking for a high-quality living experience with modern amenities and design with outstanding connectivity. According to Godrej, the land chosen for the project is one of the most sought-after locations. This land parcel offers excellent connectivity to the Kempegowda International Airport, upcoming metro station, multiple upcoming residential and commercial developments, Special Economic Zone, and social infrastructure. The location offers connectivity to the eight-lane highway connecting to the Central Business District and other key parts of Bengaluru through Outer Ring Road – Hebbal.
Godrej Properties said that the agreement for the sale of land was entered into in 2014. However, the development did not commence at that time. “Over the past few months, the 62-acre development opportunity has crystallised, and Godrej Properties now expects to launch the first phase of development on this land in the upcoming financial year.” On the prospects, Gaurav Pandey, CEO, Godrej Properties, said, “We are excited about the opportunity to develop a large-scale project in a strategic location in Bengaluru. We will aim to build an outstanding residential community that creates long-term value for its residents.
Foreign investors inject over $4 billion annually into Indian real estate: Colliers report
India’s robust economic resilience, complemented by a conducive investment environment and swift urban development, has positioned it as a compelling investment hub within the Asia-Pacific region.
Consequently, numerous new funds are actively considering the market, while established global and sovereign funds such as Mubadla, Mitsubishi Fudson, PAG Credit & Markets, Cadillac Fairview, Korea Investment Corp, and PNB Malaysia are either expanding their investments or establishing fresh collaborations to leverage the burgeoning opportunities presented by the Indian market.
“2024 is anticipated to be a more dynamic year for the both the Asia Pacific real estate markets as well as capital in the region remaining the dominant investor in global real estate. The ability to act quickly, dig deeply into markets and sectors to identify value, and forge productive partnerships will be key to making the most of the region’s diversity and increased opportunity,” said Chris Pilgrim, Colliers Managing Director, Global Capital Markets, APAC, said.
India’s robust economic resilience, combined with a conducive investment environment and swift urban development, has bolstered its allure as a highly promising investment hub for international funds.
With the International Monetary Fund (IMF) forecasting a GDP growth rate of 5.7% by 2024, India continues to stand out as one of the fastest-growing economies worldwide and a top choice among emerging nations in the Asia-Pacific (APAC) region. Its appeal lies in attractive pricing, superior valuations, and promising yields for investors seeking lucrative opportunities.
In 2023, foreign inflows experienced a resurgence, marking a 20% year-on-year increase to reach $3.6 billion. These investments transcended traditional channels, expanding into alternative asset classes, thereby strengthening the robust growth in domestic office, residential, and industrial segments.
Looking ahead, investor enthusiasm is poised to stay robust, with fresh funds eyeing entry into the Indian market. Although income-generating office assets remain a top choice, there’s a renewed interest expected in residential, industrial, and alternative sectors.
“Investments in Indian Real Estate have been consistent for the past few years and have an innate potential to grow further on account of structural changes in demand for capital. Global investors have always remained at the forefront and consistently infused average $4 Billion annually in the last five years, showcasing continued commitment and confidence towards the sector. With a rise on performance credit, special situations, portfolio acquisitions, asset reconstruction and related structures the sector is poised to attract even more investments in the next few years,” said Piyush Gupta, Managing Director, Capital Markets & Investment Services at Colliers India.
APAC nations show increased interest in Indian real estate
While countries like the US and Canada continue to be primary sources of capital, prominent APAC nations such as Singapore, Hong Kong, South Korea, and Japan are increasingly turning their attention to India’s burgeoning real estate market. In 2023, investment inflows from the APAC region surged by 57% year-on-year, totaling $1.8 billion, with 70% allocated to office assets.
However, besides office properties, APAC countries have also demonstrated interest in residential, industrial, and warehousing assets. The influx of investments nearly doubled since 2019, indicating a substantial rise in investor enthusiasm and confidence in India’s real estate sector.
Looking ahead of 2024, investors are poised to ramp up their engagement in India’s real estate sector. This surge is fueled by the country’s strong economic growth, favorable business conditions, and burgeoning demand across various sectors. The expectation of heightened activity signifies confidence in the policy landscape, a diminishing disparity between buyers and sellers, and investors’ eagerness to allocate greater capital across different real estate asset classes.
“In 2023, a striking 90% of investment inflows into India’s office sector originated from foreign investors, demonstrating strength of the underlying asset class. This marks a transformative period for the industry. Furthermore, as sustainability gains further prominence in investment decisions, the real estate sector including office market of India is set to align seamlessly with global Environmental, Social, and Governance (ESG) standards,”, said Vimal Nadar, Senior Director and Head of Research, Colliers India.
