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.

Real Estate

Navi Mumbai Airport To Serve Passengers By 2020: Maharashtra CM

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The Maharashtra Chief Minister Devendra Fadnavis has recently announced that the proposed Navi Mumbai Airport will start serving passengers by early or mid-2020. The announcement has been made in a global aviation summit held in Mumbai. Earlier the deadline for the airport was 2019 but it misses due to many constraints.

The foundation stone for the Phase-I of the airport project was laid down by PM Narendra Modi on February 18, 2018. The project was announced to be developed under public-private partnership (PPP) model by City and Industrial Development Corporation (CIDCO) and GVK group subsidiary Mumbai International Airport on DBFOT basis. The estimated cost of the project is 16,704 crore.

According to sources, the airport has got all the clearances from the Defence Ministry; however, delay in tendering process is hampering the whole work. “We are expecting that the tenders for the airport will float by this month or mid-February.” Sources added.

CIDCO MD Lokesh Chandra said, “Till date, 80% of the development work has been completed by CIDCO. A total of 10 villages will be affected due to the airport. Out of this, 4 have already been rehabilitated. Work on rest villages is on full swing. While talks with some other affected villages are in line as the villagers are stuck on compensation money.”

“The deadline for the special incentives schemes for the project-affected persons (PAPs) has also been extended where they were offered extra, Rs 500 [incentive per sq m] for construction of houses.” Chandra further added.

The Mumbai Airport has crossed its passengers limit and thus the need of Navi Mumbai Airport to start early is a must.

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Real Estate

Adani Realty Launches Luxury Residential Project In Pune

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Leading real estate developer Adani Realty has recently launched their first residential project in Pune city. The residential development ‘Atelier Greens’ will focus on the luxury and up class segment of the Pune. Located at the plush locale of Pune’s Koregaon Park, the opulent project will offer 256 exclusive homes amidst ample green environs and large open spaces.

All these homes are available in various configurations and sizes ranging from 900 – 2000 sq.ft. Every residential unit is well ventilated, Vastu compliant and is equipped with a vertical garden, spacious rooms, luxurious amenities along with a modern architecture designed by Arch Group International.

‘Atelier Greens’ comes with 20 thoughtfully designed facilities that will raise the lifestyle of its residents to another level of comfort and affluence. These facilities include 20 Seater Theatre Room, 2 Club Houses, Multi-purpose Hall, Reflexology Path, Open Amphitheatre, Nature Walk Trails, Aerobic Room, Sit-out Corner, Reading Alcove, Fully Equipped Gymnasium etc.

Speaking at the launch of the project, Pranav Adani, Director, Adani Enterprises Limited, said, “Koregaon Park in Pune is known for its location and tranquil settings. It is surrounded by many hi-class residences, villas, high-rise residential projects, commercial spaces etc. It is also home to many renowned schools and healthcare centres along with malls and fine dining restaurants. Launching a project here will definitely benefit us in future. Adding to it the cost and size of the residences are designed keeping in mind the luxury investors of the Pune City.”

The project is also well connected to Kalyani Nagar, Viman Nagar, Kharadi, Magarpatta IT Park, and Bund Garden Road. Pune International Airport is just 6 km from this project and the railway station is located at a distance of 4 Km.

The project has also got MahaRERA approval with registration number: P52100018596.

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Real Estate

Indospace To Invest Rs. 650 Crores In Gujarat To Develop Logistic Parks

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IndoSpace a firm promoted by Everstone informed about making an investment of Rs. 650 crores in Gujarat. The company has planned to develop three logistic parks here in the coming three years. The IndoSpace also announced its venture in the construction sector by developing its first logistic park in Bavla close to Ahmedabad. This park will cover an area of more than 47-acre and will acquire 1 million sq.ft. area on lease.

This logistic park will be developed close to the industrial hubs of Sanand and Changodar and will also have smooth connectivity to Kandla and Mundra ports. The company is planning to develop two more logistic parks while considering the increased demand of industrial spaces.

Indospace will also acquire a total liable land of 1.5 million sq. ft. to develop these two logistic parks.

Rajesh Jaggi, Managing Partner, Real Estate, Everstone Group said that the Bavla industrial park will mark our entry into Gujarat and will also showcase our determination to strengthen our leadership in the light industrial manufacturing space as we plan to invest Rs. 650 crores in new developing parks in Gujarat.

He also said that the over 10,000 people will get job on the completion of these projects in the state.

Indospace recently shared the closure of its third logistics real estate fund with a corpus of USD 1.2 billion. This closure escalated their India commitment to more than USD 3.2 billion. The company has 30 industrial and logistic parks planned in nine cities and they acquire nearly 30 million square feet under both developed and under-construction projects.

Indospace, is promoted by Everstone Group, GLP and Realterm has a smart client lineup such as IKEA, Amazon, Nissan, PepsiCo, DHL, Leoni, Steelcase, Kubota, Ericsson, Bosch and Delphi.

The Everstone Group is known to be the premier India and South East Asia focused private equity and real estate firm. While GLP is the leading global provider of modern logistics facilities and technology-led solutions.

Realterm, on the other hand, is a multi-strategy private equity real estate firm operating in North America.

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Real Estate

Singapore’s CapitaLand To Purchase Ascendas-Singhbridge For $4.4 Billion

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In a bid to seal Asia’s largest real estate investment the Singapore’s CapitaLand is going all out to buy Ascendas-Singhbridge for worth $4.4 billion from state investor Temasek. This deal will also make CapitaLand a Singapore-based company the biggest manager in Asia’s real estate investment market.

The company is all set to purchase all the sister companies of Ascendas-Singbridge Group, that manage businesses of Ascendas Real Estate Investment Trust, Ascendas India Trust and Ascendas Hospitality Trust, to deal with cash and stock. The Ascendas-Singbridge firm is also known to manage private funds.

This will offer a bigger market to CapitaLand for highly growing technology and E-commerce sector. Apart from this, the stakes of Temasek’s firm will increase to nearly 51% in CapitaLand in case the deal closes approximately around 40.8 percent.

Lee Chee Koon, took up as CEO of CapitaLand said that we are looking for such opportunities to enhance company’s growth. The company has multiple business ventures including shopping malls, lodging, offices, homes, real estate investment trusts (REITs) and funds.

After the deal with Temasek, the CapitaLand’s profile will have logistics assets and data centres which will act as a protective shield in other segments.

In a joint statement released by Ascendas Singhbridge and CapitaLand, this expanded group will have assets under management of more than S$116 billion. This will make company, the ninth biggest global real estate investment manager and will be next to UBS Asset Management and CBRE Global Investors.

In his recent message to employees, CEO Lee said that this deal will give us an opportunity to grown in markets like India and it will come with huge promises. He also cautioned about CapitaLand continuing with the status quo.

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Real Estate

Tata Retail Obtain Five Floors Office Space At Lodha Wadala

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Tata Group’s sister company Trent ltd acquired 5 floors office space in Lodha Developers commercial space building named Lodha Excelus located at New Cuffe Parade, Central Mumbai. This deal is said to be the first biggest commercial deal of 2019.

Trent bought four out of five floors directly, while the fifth floor has taken up on a lease of 25 years. This commercial deal is valued at approximately Rs. 300 crores as all the five floors cover an area of 150,000 sq. ft. leasable area.

The company will have consolidated offices of multiple brands as the Trent deal for a retail chain Westside, Landmark, which is a family entertainment store, and Star Bazaar, which is a hypermarket chain jointly owned by UK’s supermarket chain, Tesco.

The rental for fifth floor which is acquired on lease is finalized at Rs.125 per sq. ft. a month. According to the lease agreement the rental will increase by 15% at every three years.

Abhishek Lodha, Managing Director, Lodha Developers said that we are emphasizing to develop rental business via retail and warehousing projects from the past three years. We have a business expansion of worth Rs. 15,000 crores as the development of a few assets are completed while few are under construction and will be ready for business in the next three years.

This is the first time that Trent acquired completed office structure that covers a leasable area of 8 lakh sq. ft. at New Cuffe Parade. They commenced work on the second office building that covers an area of nearly 1.1 million sq ft. The Lodha Developers own a total of 2.5-3 million sq. ft. office space which is planned in all three towers including the first completed one.

The real estate experts feel, that this deal between Tata and Lodha developers showcase investors increasing interest in Mumbai’s eastern shore.

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Real Estate

No refund without agreement of sale: MahaRERA

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The MahaRERA recently ruled that considering no agreement for sale has been registered, the complainant cannot ask the builder for a refund with interest. The housing authority was hearing a case filed by a homebuyer seeking either refund with interest or possession of an alternate property, for delay in possession of flat.

Govind Sharma filed a case with MahaRERA against developer, Neepa Real Estate Private Limited. Sharma had booked a flat in the building, Vasant Oasis in Andheri through an allotment letter dated July 5, 2013. His counsel argued that even after paying a substantial amount for the flat, the developer failed to execute and register the agreement for sale. Sharma alleged that the developer had promised possession by December 2016, but failed to do so.

Chairman of MahaRERA, Gautam Chaterjee said that no order for refund with interest as per the mentioned section can be passed since no agreement for sale has been executed neither registered between the builder and the complainant.

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Real Estate

Oragadam Emerges As A Major Investment Destination In Chennai

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Popularly known as the biggest automobile hub of South Asia, Oragadam is one of the busiest and fasting growing suburbs of Chennai. The locality in recent time has emerged as a major investment destination due to the presence of several industries as well as over 22 Fortune 500 Companies. Apart from this, smooth connectivity and sound infrastructure have made this area investors and well as buyers friendly too.

Oragadam is located 55 km from the Chennai and enjoys seamless connectivity to the surrounding areas via a thriving rail and road transportation system. In order to smoothen up the connectivity, the state government is also developing an Oragadam Industrial Corridor Road with an expected expenditure of Rs 300 crore. This road will further add feathers to this area with enhanced connectivity to Grand Southern Trunk Road i.e. NH 45and Grand Western Trunk Road i.e. NH 4.

Currently, the Sriperumbudur–Oragadam belt is one of the flourishing industrial belts in complete South Asia. At present leading industries and companies like Renault-Nissan, Motorola, Samsung, TVS Electronics, Dell, Ford, Apollo Tyres, Yamaha Essar Steel, Royal Enfield, BPCL, GE Bayer, and Silicons (India) are executing their work from this belt. Moreover, with the development of the Industrial corridor, several other industries have shown their interest to set up their base here.

The locality is also home to many famous educational institutions, hospitals, and recreation centres.

Due to the presence of burgeoning industrial belt, many renowned developers have developed and others are developing their residential projects in Oragadam. Presently, realtors like Hiranandani, Arun Excello, Natwest Estates, Casagrand etc. are constructing housing units here. From compact home to luxury houses to spacious plots, a homebuyer can easily invest in a unit which fits best to their pocket. The current average property price in Oragadam is Rs 3,651 per sq.ft.

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Real Estate

Godrej Nurture – A Project Promising Healthy Lifestyle In Noida

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The Godrej properties bought an amazing residential project named Godrej Nurture in Sector 150, Noida. This premium housing project is particularly designed while keeping the young brains i.e. kids in mind.

Here at Godrej Nurture, the developer has provided a comfortable living style with round the clock and inside-outside security for your children. The beautiful open spaces, lush green surroundings, multi-layer of security and capacious residential units make the dream of owning home a realty.

This project comprises of 2/3 and 4 BHK apartments that are structured to offer a positive atmosphere for the smart and healthy growth of kids. All these residential units are available in multiple sizes and thus you can book the one according to the budget.

Similar to its name, Godrej Nurture is a fairy-way to offer a smart, healthy and futuristic environment for the upbringing of kids including a newborn to a youngster. This residential project is designed in a landscape manner in order to make clean and fresh air available to the residents all the time.

This project by the Godrej group is strategically located in Sector 150, Noida as the location offers smooth connectivity to the proposed metro station sector 148 and is close to the Jewar International Airport, F1 International Circuit, three-expressways including Greater Noida expressway, Yamuna expressway and eastern peripheral expressway.

All these features make living a hassle-free affair as congestion-free traffic movement plays an important role in making life happy as you get enough time to spend with the loved ones.

Godrej Nurture is enabled with amenities like E-Library, Sports Academy, Creche, Miniplex for Kid, 24×7 Security, Yoga & Meditation Lawn, Multiple Garden, Mega Sports City, Indoor Play Area and Music Training School.

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Real Estate

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

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business expansion
PropertyMonk Plans Expansion In India, In-Process To Raise Funds
January 10, 2019 Team Property News India
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.

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Real Estate

Arvind SmartSpaces Plans To Invest Rs. 250 Crores In 2019

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In 2019, the Arvind SmartSpaces, the realty company of Fashion and Apparel brand Arvind plans to make an investment of Rs. 250 crores across India.  According to this investment plan, the company will acquire and develop new projects in Pan-India location.

Kamal Singal, the CEO of Arvind SmartSpaces said that our research is on as we are exploring markets like Hyderabad and other cities while analyzing opportunities in these cities.

He also said that in the coming months we will launch the project that is currently in pipeline and we expect huge growth and amazing results of the same. CEO further said that in next month i.e. February we will launch a residential project in Pune. Apart from this, the Arvind SmartSpaces will venture into the commercial market with their first commercial project launch scheduled in Bengaluru. This project will be launched in the next quarter of the present year.

While talking about the residential project launch in Pune, the officials shared the information that this project is named as ‘Arvind Elan’ and it will cover 2 acres of land out of which 1.5 lakh sq.ft. area can be developed. This project will be completed in three years time.

This residential project will be the debut project of Arvind SmartSpaces in Maharashtra and the company has also planned a commercial project that will cover 2.5 lakh sq. ft. space.

On the hand, Uplands One is the ultra-luxury project of the company and is located in Ahmedabad. The new phase of this project is soon to commence as the company is receiving a huge demand for this project in the market.

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