Sunday, July 14, 2024

Ticker Tape May 2024

Ticker Tape – Construction May 2024

Nippon Paint, the No. 1 paint in Asia Pacific, launched its groundbreaking new product, Weatherbond 8, in Bengaluru. The event took place on 16th May 2024, and was graced by the presence of Cameron Greene, Rajat Patidar, Lockie Ferguson and Mahipal Lomror from the Royal Challengers Bangalore (RCB) IPL team.

The launch event was a vibrant celebration of innovation and resilience, mirroring the spirit of both Weatherbond 8 and the Royal Challengers Bangalore team. Fans had the opportunity to meet and greet their favourite RCB cricketers and witness the unveiling of Weatherbond 8.

The Weatherbond 8 is a high-performance exterior paint specifically designed to withstand harsh weather conditions. It’s formulated with Quartz Technology, which makes it twice as tough and durable as other paints. This translates to superior protection against rain, sun, and other elements that can damage your home’s exterior. It also provides a rich sheen finish that enhances the look of homes, and its improved anchoring properties ensure that the paint adheres better to the surface. Additionally, Weatherbond 8 is resistant to algae growth and dirt pickup, helping keep walls looking fresh for longer.

Mark Titus, VP of Marketing, Nippon Paint India (Decorative) shared his enthusiasm saying, “We are incredibly proud to launch the Weatherbond 8 in Bengaluru. This product represents a significant leap forward in exterior paint technology, offering unparalleled protection and lasting beauty. We are delighted to have the RCB players join us for this momentous occasion, as their dedication and resilience resonate perfectly with the qualities of Weatherbond 8.”

JSW Cement, part of $24.25 billion JSW Group, plans to invest around Rs. 3,000 crore to establish a greenfield, integrated cement manufacturing facility in Nagaur district of Rajasthan. The ground-breaking ceremony was held recently to commence the construction of the cement factory. JSW Cement’s investment in the new cement facility includes a clinkerization unit of up to 3.30 MTPA and a grinding unit of up to 2.50 MTPA, along with an 18 MW waste heat recovery based power plant. The investment also includes an approx. 7 km long Overland Belt Conveyor to transport limestone from the mines to the manufacturing plant and arrangements to use alternative fuel in the kiln. The proposed investment will be funded through a mix of equity and long-term debt.  JSW Cement has already received some of the regulatory and statutory approvals and is on track to obtain other necessary clearances. Once commissioned, this unit will mark JSW Cement’s entry into the attractive North India cement market. The current investment is expected to create more than 1,000 direct & indirect job opportunities.

According to Parth Jindal, Managing Director of JSW Cement, “This is one of the most significant investments we are making in Rajasthan through our cement business. I look forward to working with the Rajasthan State Government to contribute to the economic development of the State while continuing to create substantial employment opportunities in the region. The proposed investment to establish our integrated cement facility in Nagaur puts JSW Cement firmly on its path to achieving a pan-India footprint within the next few years. The new capacity in this region will enable us to service the prolific needs of our customers in the Northern States of Rajasthan, Haryana, Punjab and the NCR region.”

Dalmia Bharat Limited (DBL), a leading Indian cement major announced the installation of a new cement mill at its existing cement manufacturing unit in Ariyalur, Tamil Nadu. This new unit adds 1.0 million tons of cement capacity to the company’s overall installed capacity, bringing it to a total of 45.6 million tons including its subsidiaries. With an investment of Rs. 204 crores, this strategic brownfield expansion is aimed at strengthening its market presence in the South and meeting the growing demand for cement in the region. This expansion aligns with the company’s long-term growth strategy aimed at increasing its total installed capacity to 110 -130 MT by the year 2031.

Commenting on the company’s expansion plans, Puneet Dalmia, Managing Director & CEO, Dalmia Bharat Limited, said, “We continue to focus on strategic capital expenditure, maximizing on the region’s growth prospects and further enhance our market position in the South. Driven by robust infrastructure development, housing and investments, we anticipate cement demand to rise. This increased capacity will facilitate the growing demand in the Southern region.”

With a robust presence in Tamil Nadu markets, Dalmia Bharat currently runs two integrated cement manufacturing plants situated at Dalmiapuram and Ariyalur respectively, along with a grinding unit located in Sattur. The company is also a key contributor to the largest infrastructure initiative – Bharatmala in the south, aiding to the advancement of vital transportation networks and supporting regional development. It has also supplied specialty cement for airport infrastructure projects in Calicut and Chennai. The company has enduring ties in the region, going back to the establishment of its inaugural cement plant in Dalmiapuram, marking the cornerstone of its presence in the industry.

Gera Developments Private Limited, renowned pioneers in Real Estate, and recipients of multiple awards for their premium residential and commercial projects across Pune, Goa, and Bengaluru, are excited to introduce their latest project, Gera’s Island of Joy. This launch coincides with celebrating a significant milestone in Gera’s rich legacy as innovators and forward-thinkers – a decade of Gera’s ChildCentric® Homes.

Gera has been at the forefront of innovation, having launched ChildCentric® Homes in 2014, tailored to the needs of modern families. Projects like Song of Joy and River of Joy have set new benchmarks in understanding and responding to the needs of parents in raising their children, and ensuring families spend quality time with one another, over and above comprehensive child development, bolstered by partnerships with esteemed academies. With a portfolio that has brought joy to over 3,500 satisfied families, and won numerous accolades, including the prestigious “Themed Project Of The Year” award, Gera continues to raise the standards of Real Estate in the country.

The introduction of Gera’s Island of Joy in East Kharadi marks the latest chapter in Gera Developments’ illustrious journey. Encompassing 12.5 acres, with 9 towers, and over 1,800 homes, Gera’s Island of Joy offers unparalleled leisure amenities, including three clubhouses, private Go-Kart racing, a wave pool, and a bowling alley. Nestled along the riverbanks, it also features 9 celebrity-led learning academies focused on sports, performing arts, and personal development creating an enriching environment for families.

Rohit Gera, Managing Director of Gera Developments, expressed his pleasure at the launch event, “A decade ago, we dared to dream differently, and rewrote the rules of what a modern home could be. Gera’s ChildCentric® Homes was a concept designed to ease the burden off families, and give them the impetus to make the most of the opportunities available for their children to prosper in every way possible. Over the years, with every successive project, the response has been phenomenal. It gives us great joy to present to you Gera’s Island of Joy, a testament to our dedication to crafting exceptional living spaces for modern families. Our celebrity academies are committed to identify and hone the talents of the children that will inhabit the space. The amenities that are unique to our project promise to make a lifetime of memories for the families. Gera’s Island of Joy stands as a symbol of modern living, bringing unparalleled comfort and joy for its residents – a perfect beginning to the next decade of Gera’s ChildCentric® Homes.”

Strategically positioned near prominent SEZ and IT parks, Gera’s Island of Joy ensures connectivity and convenience. As part of an Integrated Township, it emphasizes sustainability with innovative features, including Pune’s first electric Go-Kart racing track.

On Pune’s Real Estate front, Gera Developments notes a substantial surge in the sector from fiscal years 2022 to 2024, witnessing a remarkable 29% increase in overall off-take, soaring from 14,654 units to 18,902 units. This growth is particularly notable in the thriving IT corridors of Kharadi and Hinjewadi, experiencing surges of 32% and 82%, respectively. Additionally, prices have seen a commendable 25% growth, with budgets increasing by an impressive 30%.

An integral part of this growth is the significant increase in apartment sizes, up by 14%, demonstrating a commitment to meeting the evolving needs of modern families. With 21,660 units added against 18,902 sold in FY24, indicating a replacement ratio of 1.14, Gera Developments remains cognizant of maintaining the equilibrium between supply and demand.

Realty firm Signature Global has purchased 14.65 acres of land in Gurugram for a new housing project as part of its expansion strategy. The company announced the acquisition of the land in Sector 37D, near Dwarka Expressway, without disclosing the deal’s value or the seller’s identity. Sources estimate the transaction to be around Rs. 350 crore. Signature Global plans to develop a residential project spanning 27 lakh square feet on this newly acquired land. Chairman Pradeep Kumar Aggarwal expressed optimism about the strong demand for residential housing in the area. “We aim to launch a residential project on this land in 2025-26, reinforcing our presence in the luxury housing market,” Aggarwal stated.

The company has set an ambitious target to sell Rs. 10,000 crore worth of housing properties in 2024-25, a 38% increase from the previous fiscal year.

Mumbai, the city that never sleeps is all agog to a new emerging trend seen in its luxurious offerings. Plush properties, known for their opulence and contemporary amenities, are now embracing the spiritual route. This shift reflects a growing recognition among developers and residents alike that true luxury extends beyond material comforts to encompass elements of tranquility, mindfulness, and spiritual well-being. The city where luxury and modernity often take center stage, this might seem unexpected to some, but deeply resonates with others.

Amidst the skyscrapers and sky-walks of luxurious living, developers are incorporating spaces for meditation, yoga, and reflection within their high-end properties. From rooftop decks offering panoramic views of the city skyline to serene meditation gardens nestled amidst lush greenery, these additions are redefining what it means to live luxuriously in a fast-paced urban environment.

Such amenities not only provide residents with opportunities to unwind and recharge but also foster a deeper connection with oneself and the immediate community.

Due to the growing demand, most leading developers have incorporated these spiritual elements in their projects. Omkar Alta Monte a luxury residential development on the Western Express Highway will soon be consecrating a Hindu and Jain temple within the precincts of its project at Malad (East), Mumbai. According to a resident at Omkar Alta Monte who wished to remain anonymous said that a lot of home buyers are aspiring for these spiritual elements to be incorporated in their housing projects. It offers a serene atmosphere for residents to introspect and worship as well fosters a sense of community and bonding among them.

This marks a significant step in the integration of these mystic elements blend with modern living within Mumbai’s real estate landscape. This also adds a touch of reverence and cultural richness to the development.

A leading real estate advisory firm The Guardians Real Estate Advisory’s Director, Khetsi Barot, points out that there is a definite shift of around 15 to 20 per cent in the rise of customers who are looking at something more than just lifestyle benefits. “Home buyers in the luxury housing segment are looking at properties that provide not just lush amenities, but which are sustainable, set amidst a green cover and have these spiritual elements that provide residents with a holistic living experience,” he said.

Beyond the tangible benefits of relaxation and stress relief, the integration of spiritual elements into Mumbai’s plush properties reflects a broader cultural shift towards holistic living, across a wide range of religious and personal beliefs.

As individuals increasingly seek work-life balance in their lives, the demand for spaces that nurture both the body and soul continue to grow. In this dynamic city where contrasts abound, the convergence of luxury and spirituality serves as a poignant reminder that amidst the hustle and bustle, there exists a profound longing for peace and a deeper sense of fulfillment. As Mumbai’s skyline continues to evolve, so too does its definition of luxury, now enriched by the inclusion of spaces that nourish the spirit as well as the body.

Ampa Group, a prominent real estate entity in Chennai, has joined forces with Indian Hotels Company Ltd (IHCL), a renowned hospitality firm, to introduce the inaugural Taj-branded residences project, Taj Sky View Hotels and Residences. Set to become the tallest hotel tower and apartment complex in the city, this venture is poised to redefine luxury living in Chennai. Valued at Rs. 850 crore (excluding land costs), the Taj Sky View Hotels and Residences is situated on a sprawling 3.5-acre expanse along Nelson Manickam Road in Chennai’s central district. Boasting 23 floors, the development will encompass a luxurious hotel featuring 253 rooms, 123 Taj-branded residences, and 36 boutique offices under the Taj umbrella. Ampa Palaniappan, Chairman & Managing Director, Ampa Group, disclosed, “The construction progress is well underway, with an investment of approximately Rs. 200 crore already made. We anticipate completion by the first quarter of 2027.”

The architectural marvel will showcase a 4-level podium structure housing two residential towers and a hotel tower. Ranging from 2,500 to 5,900 square feet, the residential units are priced between Rs. 6.4 crore and Rs. 19 crore. Residents are poised to indulge in amenities such as sustainable power solutions, state-of-the-art air conditioning systems, and an array of hotel-like services, including in-home dining and maintenance. Moreover, residents will enjoy seamless access to the adjacent Taj hotel’s five dining establishments, a bar, House of Ming, and recreational amenities such as an Olympic-size pool, fitness center, wellness spa, salon, and theater. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, remarked, “This development marks a significant opportunity for us, one that we’ve been deliberate about until securing the right partners. Teaming up with Ampa Group allows us to pioneer a groundbreaking hotel and branded residences concept, unparalleled in India.”

As residential preferences evolve, with an increasing demand for experiential living, IHCL aims to leverage this trend by offering branded residences complemented by hotel-linked services under the esteemed Taj brand. Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL, expressed, “We perceive this as a golden opportunity to initiate similar projects in all major metros, catering to the discerning preferences of high-net-worth individuals. Our vision extends to replicating this model in at least the top 7-8 cities across India.”

The renowned luxury hospitality giant, The Oberoi Group, has unveiled its latest offering, the Oberoi Residential Suites, at The Oberoi in Nariman Point, Mumbai. This new venture aims to provide guests with an opportunity for extended stays in the lap of luxury.

Crafted by Architectural Discipline, these residential suites seamlessly blend residential comfort with contemporary elegance. Available in two variants, the Bay View Residential Suites span 115 square meters, while the Luxury Residential Suites cover 87 square meters, offering guests a choice tailored to their preferences.

According to the group, the Oberoi Residential Suites mark a significant milestone in redefining modern urban living in one of Asia’s most dynamic cities. “The suites represent a harmonious fusion of sophistication and convenience, enriched with the unparalleled hospitality that Oberoi is renowned for,” remarked Vikram Oberoi, CEO of The Oberoi Group. Each suite is thoughtfully designed, featuring a master bedroom, walk-in wardrobes, and private study areas. Moreover, the Bay View Suites offer an additional study room, enhancing the living experience for guests. Amit Kaul, Vice President and General Manager, The Oberoi, Mumbai, expressed excitement about introducing The Oberoi Residential Suites, emphasizing their commitment to providing unparalleled service and attention to detail. “We promise guests an exceptional experience, characterized by genuine care and meticulous service, encapsulating the true essence of Oberoi hospitality,” he said. The launch of the Oberoi Residential Suites comes at a time of prosperity for the Oberoi Group’s parent company, East India Hotels (EIH). In the third quarter ended December 31, 2023, EIH reported a remarkable 51% increase in net profit, signaling positive growth and a promising outlook for the luxury hospitality sector. Nilesh Narwekar, CEO of JSW Cement said, “This investment will mark our entry into the fast-growing and attractive cement markets of North India. These States have one of the highest GDP growth rates and are witnessing significant infrastructure and housing development. We are very excited to be able to enter into this booming construction market and will aim to provide our customers with high quality cement and a world-class customer service.”

Casagrand, one of the leading real estate developers of South India, announced the launch of Casagrand Vivacity, an upscale apartment community nestled in the heart of Bengaluru’s Electronic City. Strategically located just 15 minutes from HSR Layout, the luxurious residential community spread across 10.2 acres houses 717 finest 2,3 & 4 BHK premium apartments with 75+ world-class amenities offering residents a reimagined way of life, at an unparalleled price of just Rs. 4499 per sqft, one-third of the HSR layout market price. Located in the silicon valley of Bengaluru, Casagrand Vivacity is just 5 minutes from Elevated Highway, and Nice Road, 10 minutes from Kudlu Gate, and 15 minutes from HSR Layout, offering easy access to key areas with proximity to IT/ITES and employment avenues, prominent educational institutions and healthcare facilities. The area is further deemed to be a lucrative option for investors, owing to its growing popularity as a realty hotspot, thereby appreciating its land value. In stark contrast to the prevailing rates in esteemed neighborhoods such as HSR Layout, Koramangala, and Nice Road, where prices soar between Rs. 8500 to Rs. 15000 per sqft, Casagrand Vivacity presents an exceptional value proposition. Commenting on the occasion, Sathish CG Director of Casagrand, Bengaluru Zone, Casagrand said, “We are happy to announce the launch of Casagrand Vivacity in Electronic City, Bengaluru. Our decision to expand into this vibrant locale is rooted in the burgeoning demand for premium residential offerings in the area. With a commitment to excellence and a dedication to meeting the evolving needs of our customers, Casagrand Vivacity epitomizes our unwavering pursuit of innovation and quality in the real estate sector. Our entry into Electronic City signifies a strategic expansion, and our intent to provide unparalleled living experiences. By leveraging cutting-edge design, superior craftsmanship, and a deep understanding of consumer preferences, Casagrand Vivacity sets a new standard for contemporary urban living in Bengaluru”.

At Casagrand Vivacity, residents can indulge in over 75 lifestyle amenities thoughtfully curated for all age groups. From a colossal 12,500 sqft swimming pool and multipurpose hall to squash courts and an amphitheater, every aspect of community living has been meticulously designed to foster an active and engaging lifestyle. The grand 43,000 sqft clubhouse serves as the centerpiece of social gatherings, offering a plethora of indoor and terrace amenities. Safety is paramount with a basement car park and a vehicle-free zone ensuring peace of mind for families and seniors alike. Boasting 7 acres of open space adorned with lush greenery, residents will enjoy maximum light and ventilation, creating a serene environment to call home. Designed with privacy, and community in mind, Casagrand Vivacity features units with personalized entrances and no main doors facing each other along with the homes being 100% Vaastu compliant and zero dead space, elevating the standard of living for all residents.

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