Real Estate

PropertyMonk Plans Expansion In India, In-Process To Raise Funds

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Property Monks an international property company is planning to invest and expand its operations in India. The company is having talks with multiple investors to gather funds of nearly $2million initially.

This fund will be then used for expanding the Property Monks presence in various Indian cities including NCR, Pune and Goa. Apart from this, the company is also planning to expand its operations in Lagos city of African continent.

Property Monk has started the process for fund gathering as it expects to mark its presence in all these cities in the present year 2019.

Manoj Asrani, the founder of Property Monk said that our focused sales model and expertise in lead generation will help the organization to reach new heights in the real estate sector in 2019. He also called these techniques the most engaging and committed format to increase sale in the real estate market in the year 2019. In continuation to the same, he said that the realtors/developers and every person involved in the property market business will follow these tricks in the current year.

The company is offering an inventory of more than Rs. 100 million only after three months of its launch. The Property Monk is rated among the top leading property consultant firms in India and the United Arab Emirates who are planning expansion in multiple cities of India and in the African continent.

Nisha Shiwani has worked in many companies in various capacities and in her free time loves to express herself through her articles. She is based out of the pink city Jaipur.

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Hotel Leela Venture Sells Assets Worth Rs 3950 Crore To Brookfield Asset Management Firm

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In a recent development, Canadian investment firm Brookfield Asset Management bought various assets of leading hospitality chain Hotel Leela Venture. The Group has sold four hotels, including one in Delhi and another property in the different state.

Hotel Leela Venture has signed a binding agreement with the Canadian firm to sell these properties which are located in Bangalore, Chennai, Delhi, and Udaipur. The other property is located in Agra.

According to company sources, “The overall transaction cost is Rs 3950 crore. It also includes all the contracts which currently the hotels are undertaking as well as those which are under-development. The assignment of employees will also be undertaken by the owner company.”

Sources further informed that the promoters will also be transferring the Leela brand to Brookfield for all hospitality businesses.

Elaborating on the above deal, Vivek Nair, Hotel Leela Venture Chairman, and MD said,” “The Leela is rated amongst the top hospitality brands in the world and I am confident that the brand will receive a boost and be further strengthened and continue to be known for its world-class services.”

Brookfield Asset Management MD and Head-India Real Estate Ankur Gupta commented, “We are looking forward to this opportunity and will love to complete this transaction at the earliest while ensuring that all operations remain unaffected. We expect the Leela hotels to continue to be market leaders.”

In order to have a smooth transaction, JM Financial became the financial advisor to Hotel Leela Venture.

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GDA Sanctions Hindon Elevated Road Extension To DND Flyway In Noida

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Good news for the commuters traveling from Ghaziabad to Noida, as recently Ghaziabad Development Authority (GDA) has given its nod to an extension of Hindon Elevated Road to DND Flyway in Noida. The feasibility report has got a recommendation in the recently held meeting of GDA thereby approving a 7.5 km long route which will be developed at an estimated cost of Rs 558 crore.

As per GDA sources, the route will pass through Hindon Canal, Ghazipur, Kondli, Dharamshila Road and New Ashok Nagar and will finally reach to DND flyover. The Hindon Elevated route was inaugurated in 2018 that has not only cut down the traveling time to Rajnagar extension but has also created a positive impact on the real estate market of the area.

Apart from this, the GDA is also developing an 8 km long bypass road between Hindon elevated road and Delhi-Meerut Road. With this route, travelers don’t have to cross the residential locality of Rajnagar Extension. This bypass route will reach straightly to Manan Dham near Morta on the Delhi-Meerut Road.

Giving more details about the same, GDA officials said, “The first 5-km of the bypass road will run parallel to Hindon River and rest of the 3 km; will directly link to the Northern Peripheral Road (NH-9). This will help in bringing the total traveling time to 20 minutes from Rajnagar Extension to UP Gate.”

With all these infrastructural development on the cards, there will be better connectivity on offering for the Ghaziabad residents, which will definitely ease traffic congestion on roads. Also, the property prices in the surrounding areas will definitely be going to boost in the coming few years attracting many homebuyers to invest in these areas.

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DLF Group Plans To Invest Rs. 750 Crores In New Commercial Project In Gurugram

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The DLF group planned to make an investment of Rs. 750 crores to develop a new commercial project in Gurugram. This investment is being planned by the DLF group as the company wishes to encash the increasing demand of office and retail space from the investors, sources said.

This new commercial project will be developed at 2.5 million sq. ft. area of the Gurugram city. Instead of going for a lease-model, the company will sale office and retail space of this project, sources informed.

The company has previously sold the DLF Corporate Greens project that is spread across 2.5 million sq. ft. land and is located on Southern Peripheral Road, Sector 74A, Gurugram.

The DLF group owns more land parcels that are adjacent to the Corporate Greens project and the same is planned to be developed.

According to the sources, Rs. 750 crore is estimated to be the cost of project and the construction of the same will begin soon.

In India’s capitalization market, the DLF group is the leading company and they work on both the lease-model as well as on the sale model.

At present, the company has over 30 million sq. ft. of leased commercial properties and a rental income of more than Rs. 3,000 crore.

The DLF group ventured into rent-yielding commercial assets with DLF Cyber City Developers Ltd (DCCDL). The company holds 66.66 percent stake in DCCDL while Singapore’s sovereign wealth fund GIC holds the remaining 33.34 percent.

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Properties In Thanisandra Emerges As Favorable Investment Destination In Bangalore

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Located in the Northern part of the Bangalore, Thanisandra has emerged as a property hotspot in recent times in the city. Due to rapid urbanization, and other infrastructural developments, the locality has become hot favourites among many working professionals who are looking to invest in property here and that too at budget-friendly rates.

Thanisandra is situated on the Outer Ring Road and hence enjoy smooth connectivity with areas such as Jakkur, Hebbal, HBR Layout, Hennur etc. Recently, the Thanisandra main road has been widened to 100 ft which has also been a major reason behind the booming realty market.

The locality is well connected by the surrounding areas via a thriving rail and road network. BMTC bus services are quite frequent here. Also, the international airport is just a distance of 20 minutes from the locality. Apart from it, proposed metro development in and around the surrounding IT Hubs like Whitefield and Electronic city will further propel the real estate market of the locality in the future.

Thanisandra is also home to many renowned educational institutions, shopping malls, hospitals and recreation centers like Sri Basaveshwara School, Blossoms International Play School, Nees Montessori Pre Primary School, Shangri-La, Hilton Ibis, and Novotel etc.

Due to the presence of leading IT parks in the vicinity, the locality is mainly favoured by IT professionals and working populations. While Manayata Tech Park is just 3 km away from the Thanisandra, KIADB Industrial area is just 15 km away from the locality. Apart from homebuyers, the area has also seen a flourishing rental community in present times.

At present, the average property price of the apartment here is Rs 5,903 per sq.ft. On the other hand, the rental rates for 1 and 2 BHK units hovers around 14,000 and 20,000 per month. Experts suggest that the pace at which the infrastructural developments are going around the area, the property prices are expected to show a steep jump in other 2-3 years at a percentage of 5-6%. Seeing the development, many leading developers are also coming up in this area to develop affordable, mid-segment and luxury housing projects

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Bengaluru-Based Brigade Group Venture Into Co-Working Business

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Brigade group – the Bengaluru based real estate Company ventured into the co-working business via the brand name BuzzWorks and plans to offer 2,200 seats by 2021.

The company BuzzWorks is planned to introduce over 200 seats at Whitefield and Rajajinagar. Both these campus calculates to 15,000 sq.ft. and the firm plans to offer co-working spaces in multiple locations like Kochi, Ahmedabad, Chennai and Hyderabad.

Nirupa Shankar, executive director at the Brigade group said that the BuzzWorks will be a natural arm-extension of our commercial office portfolio and a step forward for our business.

In 1986, the company started operations as a commercial space developer and then expanded the business to multiple real estate sectors that include residential and hospitality.

The business giants are taking interest in the co-working business as the sector is growing rapidly and the clients are also asking for these spaces.

According to the industry experts, in the co-working business, India has over 200 players that function in more than 420 co-working spaces all over the country. The experts also predict multiple fold growth for the co-working sector in the next two years.

The experts also feel that the Co-working sector will also witness nearly 30 percent growth on the yearly basis as the rental offices are on the rise in India while considering occupied spaces in Bengaluru, National Capital Region and Mumbai, followed by Hyderabad and Chennai as these cities offer growth opportunity.

Talking particularly about the Brigade Group, the experts feel that the company has focused on the commercial market at large. The company has 11 million sq. ft. office space that is under construction.

The company is also into a partnership with the Singapore-based private equity firm GIC Singapore for commercial properties.

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Shapoorji Pallonji Launches Its First Premium Residential Project In Thane

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Leading realty developer Shapoorji Pallonji has forayed into the residential real estate market of Thane by recently announcing its first project ‘Northern Lights’ in Thane. Located at the plush locality of Pokhran Road 2, this premium development will be tallest towers in the city which is spread across 4.8 acres of areas.

Shapoorji Pallonji ‘Northern Lights’ will be offering 2 BHK premium luxurious homes in various size and configurations. The beautifully-crafted homes are equipped with all the modern-day amenities that will raise the living standards of the residents. Each residence has been designed in a way to give beautiful views of sprawling greens along with maximum cross ventilation to have access to daylight and pure air.

Speaking at the launch, Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate said, “With Thane emerging as lucrative real estate market in MMR, Shapoorji Pallonji doesn’t want to miss an opportunity to mark their presence in the city. The residential development will be one of the finest housing projects offering a plethora of premium amenities to the residents. We are very much confident that just like our other projects, this development will also able to grasp customer satisfaction in the near future.”

Shapoorji Pallonji ‘Northern Lights’ is also home to many state of the art lifestyle amenities that include club, swimming pool, music room, kids play area, gaming zone, library, multi-purpose hall, cricket pitch, senior citizens’ corner, adventure climbing wall, urban farming zone, and air and water purifiers within the complex.

The location of Shapoorji Pallonji ‘Northern Lights’ is its USP wherein all the renowned schools, workplaces, IT Hubs, and entertainment centers are located in its vicinity. Apart from this proposed infrastructural development like Monorail between Thane- Bhiwandi- Kalyan, and Metro Station at Majiwada Junction also falls at a walking distance from the project.

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Bestech Park View Sanskruti: Luxury Residences Amidst Tranquil Environs In Gurgaon

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Bestech Park View Sanskruti is an ongoing residential development by Bestech developers located in sector -92 Gurgaon. Set in tranquil settings, the project is a mix of culture, values, and sentiments. Bestech Park View Sanskruti is surrounded by large open spaces, green landscape, and serene locales that offer a quality living to its residents.

The hi-rise towers of the project offer opulent and spacious 3 and 4 BHK Air-Conditioned residences in different size ranging from 1920 sqft to 2475 sqft. Each and every residential unit is perfectly crafted with beautiful interiors along with imported marble flooring in living room, wooden flooring in bedrooms, and fully-developed modular kitchen.

Bestech Park View Sanskruti is home to many state-of-the-art modern amenities such as a club with multipurpose hall, swimming pool, kids pool, tennis court, badminton court, yoga hut, pets garden etc.

Premium Features of the Project:

  • Lavish 3 and 4 BHK apartments with servant quarters.
  • AC in Living Room, bedrooms
  • Modular Kitchen with Granite counters
  • Imported marble flooring in living room, wooden flooring in bedrooms
  • Club with Multipurpose hall, Swimming pool, Kids pool, Amphitheatre, Basketball, tennis court, badminton court, Yoga huts, Sandpit, Jogging track, Cricket net and pets garden.

Location of the Project:

  • Situated in sector-92 Gurgaon
  • School and recreation centers in the vicinity
  • Easy accessibility to Dwarka Expressway and NH-8

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Pune Metro Project: All You Need To Know

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In recent years, Pune has seen a sudden influx of many working professionals which has added numbers to the city’s population. This has called for more infrastructure developments in which the city lacked behind in the past. In order to add fillip, the state government has announced many development schemes to change the face of the complete city. Amongst all such project, the announcement to start metro operations is considered as the biggest developments which will not only end traffic congestion on roads but will also give a boost the real estate market of the city.

The Project

In 2016, the foundation stone of the project was laid down by PM Narendra Modi. Comprises of Three lines, the construction of Line 1 and 2 is already underway while for Line 3, the construction is expected to start by the second half of 2019. The project will be executed by a special purpose vehicle named- Maharashtra Metro Rail Corporation Limited (MahaMetro), and the cost will jointly share by both the central and state government.

The Route

The complete route is divided into three corridors which will be covering some of the major residential and IT hubs of the city.

Line 1: The 16.589 km long route will start from PCMC (Pimpri Chinchwad Municipal Corporation) and end at Swargate. With 14 dedicated stations, this route is a mix of both underground (5) and elevated (9) stations. The major stations which fall in between are Sant Tukaram Nagar, Shivaji Nagar, Civil Court, Range Hill, and Budhwar Peth. The route is expected to operational by 2021.

Line 2: The Vanaz – Ramwadi metro route will be 14.665 km and will have 16 stations. The route will be completely elevated and will commence operations from 2021. Starting from Vanaz, the stations include Anand Nagar, Ideal Colony, Nal Stop, Garware College, Deccan Gymkhana, Chhatrapati Sambhaji Park, PMC, Mangalwar Peth, Pune Railway Station, Ruby Hall Clinic, Civil Court, Bund Garden, Yerawada, Kalyani Nagar and Ramwadi.

Line 3: The foundation stone of this route was laid down by PM Modi in 2018 and construction is about to begin. The length of this stretch will be 23.3 km and it will link Hinjewadi and Shivaji Nagar. The work on this line is taken care by PMRDA. The stretch will have 23 stations and the construction will be done in two phases. While the Civil Court will be the interchange station between all the three lines, there are many proposed extension in the loop.

Impact on Real Estate Market

With every infrastructural development, the realty market of any city witness a boom, same is the case with Pune too. With the commencement of metro, the property prices in various localities with taking a steep jump. The Pune city has registered many new housing project launches in recent time due to which it has become a buyer’s favourable market mainly in the affordable housing category. With metro reaching to every nook and corner of the city, professionals working in IT Hubs like Hinjewadi with getting a lot of relief.

Also, the key area on all the three lines will be going to have a positive impact on the prices as well as the demand and supply too.

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All You Need To Know About Delhi Metro Grey Line

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To improve last mile connectivity in the South-west part of Delhi, the Delhi Metro Grey Line is all set to begin its operation from the month of September. The grey line corridor will connect Dwarka with Najafgarh. As per the officials, around 90% of the construction work has already been completed with security test and final touch to stations just left behind.

Delhi Metro Grey Line

According to earlier plans, the corridor was expected to start in 2016, but due to land acquisition problems, the project got delayed.

The grey line is the shortest metro corridor covering an area of just 4.295 km. There will be three stations that include Dwarka, Nangli and Najafgarh (Dhansa Bus Stand), of which the first two will be elevated while the third one will be underground. Passengers traveling to Najafgarh from Ghaziabad or Noida have to interchange at Blue Line metro station of Dwarka. With the commencement of this corridor, there will be a big relief to daily commuters between Najafgarh, Nangli, and Dhansa Bus Stand which are considered as one of the busiest and congested areas of Delhi.

Impact on Real Estate Market

Being an outer part of Delhi, Najafgarh has not been able to woo property buyers due to less infrastructure and real estate developments. Most of the residential developments are available here in the form of plotted land parcels in Budget-friendly prices. At present, the average property price of the residential plot is Rs 33,080 per sq.ft.

Once the metro corridor will become operational, the property prices of these plots will increase just like the other surrounding areas like Dwarka, Uttam Nagar, and Nawada. These areas have also seen a price rise just after the commencement of Delhi Metro Blue Line.

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Centre Gives Nod To Surat Metro Project: All You Need To Know

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After the recent inauguration of partial phase-1 of Ahmedabad Metro, the centre has now given its approval for the Surat Metro rail project. The estimated cost of the project is Rs 12,000 crore and is divided into two corridors. As per the Housing and Urban Affairs Ministry, the project will be executed by Gujarat Metro Rail Corporation and is expected to complete in a span of 5 years.

According to government officials, both centre and state will share the cost of the project in the ratio of 50-50. Rest of the finance will be done via multilateral and bilateral funding agencies.

Brief about the Surat Metro Project

Covering a length of 40.35 Km, the two corridors will pass through some of the major areas of the city thereby easing traffic congestion on roads. It will also help in lowering the pollution level as well as traveling time within the city.

Corridor 1: The length of corridor-1 will be 21.61 km and will cover the area between Sarthana and Dream city. It will have 20 stations, of which 6.47 km will be underground and 15.14 km will be elevated. The metro station will be developed at Sarthana, Nature park, Kapodra, Labheshwar chowk area, Central Warehouse, Surat Railway station, Maskati hospital, Gandhi Baug, Majura Gate, Roopali canal, Dream city. Dream City will also facilitate maintenance work.

Corridor 2: With a total of 18 metro stations, this 18.74 km metro line will cover the areas between Bhesan and Saroli line. It will be a completely elevated route with metro stations at Bhesan, Ugat Vaarigruh, Palanpur road, LP Savani School, Adajan Gam, Aquarium, Majuragate, Kamela Darwaza, Magob and Saroli. Maintenance facilities will be provided at Bhesan Depot.

The state government is also planning to develop Multimodal Integration between various stations. These stations will also be linked via feeder buses, Intermediate Public Transport (IPT) and Non-Motorized Transport (NMT).

Impact of Real Estate Market

Once the metro will become operational, the property prices in the surrounding and adjacent areas will definitely be going to witness a boost. Apart from this, there will be also residential, commercial and infrastructural development proposed in these areas which will eventually attract home buyers and property buyers to invest in the respective areas.

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