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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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Nisha Shiwani hails from the pink city of Jaipur and is a prolific writer. She loves to write on Real Estate/Property, Automobiles, Education, Finance and about the latest developments in the Technology space.



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Commercial Projects

Hero Xpulse 200 Starts Reaching Showrooms, Delivery Begins

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Launched last month, the Xpulse 200 Carburetor version priced at Rs. 97,000 (ex-showroom) and the fuel injected variant is at Rs 1.05 Lakhs (ex-showroom)

The bookings for the Xpulse motorcycles began as soon as they were launched in India on 1st May 2019. We have already reported earlier that Hero will begin the deliveries from the first week of June onward. The good news is that the Xpulse 200 and the 200T have finally reached the showrooms across India and the authorized Hero dealers have also commenced the deliveries of these motorcycles recently.

The recently launched Hero Xtreme 200S, Xpulse 200 and the Xpulse 200T are all powered by the same 200cc, single cylinder, 2 valves air-cooled engine. This unit paired with a 5-speed gearbox produces about 18.4PS of peak power at 8000 rpm and 17.1 Nm of peak torque at 6500 rpm. Hero also offers a fuel injected version of the Xpulse 200. All these three motorcycles also share the same frame with Xtreme 200R, launched last year in India.

The Xpulse 200 gets a high mounted mudguard at the front, engine bash guard, swept up exhaust, and knuckle guards that help in adding a proper off-roading experience to the motorcycle. The Xpulse 200 also has been fitted with a large 21-inch spoke wheels at the front and 18-inch spoke wheels at the rear fitted with proper dual purpose tyres from Ceat.

The Xpulse 200 features a 37 mm telescopic forks up front and a 10-step pre-load adjustable monoshock unit at the rear with 170 mm travel. The Xpulse 200T is the touring version has received a more road biased styling and components. The motorcycle gets a 17-inch alloy wheel on both ends wrapped with road biased rubbers.

The riding ergonomics of the motorcycle is also slightly relaxed as well. Both the versions of the Xpulse also share the same digital instrument cluster with smartphone connectivity feature via Bluetooth. The LCD instrument cluster displays turn-by-turn navigation system and call alert besides display some regular information.

All the three motorcycles depend on a 276 mm disc at the front and a 220 mm disc at the rear. A single channel ABS is offered as standard for the safety of the rider. The Xtreme 200S, on the other hand, is a faired variant of the Xtreme 200R and shares all its parts with the Xtreme 200 and the Xpulse 200T.

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Commercial Projects

Ministry Of Road Transport To Build Highway Between Chennai And Surat

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In order to enhance inter-state connectivity, the Union Ministry of Road Transport and Highways has decided to build a highway between Chennai and Surat. The 1,461 km-long highway will not only augment connectivity but will also help in boosting the property market of the two cities and its surrounding areas.

As per the Ministry officials, the highway will be developed under the central government’s ambitious Bharatmala Pariyojana.  The stretch between the two cities will pass through various cities of Nashik, Ahmednagar, Solapur, Kalaburgi, Kurnool, Kadappa and Tirupathi. Moreover, the roads between Surat and Ahmednagar in Gujarat and Akkalkot and Mahabubnagar in Maharashtra will have Greenfield alignments.

The other corridors falling in between the stretch will be broadened from the current 2-lane to Four-Lane.

Elaborating more on the above, K R Kiran, Project Director, NHAI, Hyderabad said, “At present, the commuters who want to reach Chennai mostly travel via Pune-Bangalore Highway. Due to this, the route has already been saturated and can’t handle passenger pressure anymore. This has led NHAI to develop a new highway so that commuters can relieve themselves from traffic congestion.”

The highway between the two cities will also enhance connectivity between Chennai and Mumbai. The travelling distance will reduce by 100 km. Once the highway will be operational, the passengers don’t have to take an alternative route via Bangalore to reach Mumbai.

He further informed that the NHAI has already offered the contract of preparing DPR (Detailed Project Report) on the Greenfield stretch between Surat and Ahmednagar. The work on other stretches in Andhra Pradesh, Tamil Nadu, Maharashtra, Gujarat, and Telangana has also started which is currently in various stages of execution.

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Commercial Projects

DLF Goes Into Joint Venture With GIC To Develop Biggest Mall In Gurugram

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The DLF group went into a joint venture with Singapore’s sovereign wealth fund GIC to build a retail mall in Gurugram. This mall will be developed in over 2.5 million sqft area and is believed to be the biggest mall of India, the sources said.

This will be a mix-land project and is planned to have both retail and commercial space named as Down Town. The same will be developed on a 23-acre land parcel owned by the DLF group in Gurgaon. This plot is located on the highway opposite to DLF Cyber Park that is spread over 2.5 million sqft.

The sources said that the retail mall is planned to be a part of 8 million sqft project and will also have serviced apartments, five-star hotel and commercial development. The project will be developed in two-three phases and will take more than five years to complete.

DCCDL i.e. the DLF Cyber City Developers Ltd will develop this project and will replace LuLu International Shopping Mall in Kochi that is spread over 2.5-million sqft and DLF’s Mall of India in Noida as the biggest mall in the country.

In 2017, the DLF and GIC signed jointed venture after the promoters K P Singh and his family sold their shares to the Singapore investment firm.

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Bharatmala Pariyojana: Government To Develop 35000 Km Highways By 2022

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In order to enhance connectivity all across the country, the Central government has decided to construct 35000 km of highways by 2022. The highways will be constructed by National Highways Authority of India (NHAI) using the eco-friendly technique.

The information was disclosed a few days back by the President of Indian Mr. Ram Nath Kovind. According to him, the major reason behind this development is not just to boost the urban infrastructure, but to generate massive employment opportunities.

Apart from this, the government wants to construct quality roads using the best techniques in the urban, rural as well as coastal areas. Also, the areas which are newly developed or are developing around the airport will also be covered under this project.

In the last few years, many new highways and expressway are developed that has not only enhanced connectivity between cities or states but has also made easy for commuters to travel easily from one place to another. The focus is also to provide seamless connectivity in between the North-Eastern and tribal areas on the country where the roads get destroyed due to rain, floods or landslide.

Launched in 2015, the Bharatmala Pariyojana targetd to provide smooth connectivity to the far-flung border and rural areas including the tribal and backward areas of India. Under this project, the government has to develop highways and expressways starting from Gujarat, Rajasthan, Punjab, and Haryana to Jammu and Kashmir, Himachal Pradesh, Uttarakhand followed by some portions of borders of Uttar Pradesh and Bihar alongside Terai. It will then move to West Bengal, Sikkim, Assam, Arunachal Pradesh, and will finally end at the Indo-Myanmar border in Manipur and Mizoram.

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BPTP Discovery Park: Beautiful Homes With Superior Architecture

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Developed by renowned developers BPTP, Discover Park is a ready-to-move-in Housing project, located in sector-80 of Faridabad. The residential project is spread over 16.331 acres of area and is surrounded by sprawling greens.

BPTP Discovery Park offers 2 and 3 BHK apartments with superior architecture and perfectly crafted interiors to provide a modern lifestyle to the residents. The project hosts a multitude of activities for your children’s development like a rock-climbing wall, badminton courts, a kid’s swimming pool, and open green parks for playing.

Other than this, BPTP Discovery Park is also home to many world-class amenities like Air Conditioned Lobby & Lounge, State-of-the-Art Sanctuary Club, Round the Clock Security, Amphitheatre & Water Bodies, Leisure & Sports Amenities, Barbeque pits/gazebos for social events.

Highlights of the Project:

Air-conditioned entrance lobby
2 and 3 BHK apartments with superior architecture
Exclusive facilities for children that features a rock-climbing wall, badminton courts, swimming pool and open, green spaces for outdoor activities.
High capacity lifts
Gated complex with 24×7 security
Jogging and walking track
Barbeque pits/gazebos for social events
Club with swimming pool tennis courts, squash court, pool/billiards, table tennis, badminton courts, cricket nets and basketball court.
Location of the Project

Located in sector-80 Faridabad.
Close to the Sector 81, 75 and other major areas of Faridabad.
Excellent connectivity to Delhi/NCR.
Nearby Hospitals, schools, banks/ATMs, restaurant, shopping centers, malls etc.
10 minutes away from Sector 14, Faridabad
Close to Delhi-Faridabad Expressway
Close to Fortis & Metro Hospital
Close to Delhi Public School, Shiv Nadar School, Modern Delhi Public School

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Delhi Government Decides To Link Three Rapid Transit Systems In City

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To promote connectivity of the National Capital, Delhi with other NCR areas, the State Government has decided to link three proposed Regional Rapid Transit System (RRTS) with the Delhi metro, Inter-state bus terminals and railway stations in the city. This will aid in developing a multi-modal transport hub in the Capital City.

Providing more information on the same, sources from the government said, “To help commuters for a to and fro movement from one place to another, the government has planned to integrate the three corridors of RRTS with eight Delhi Metro stations, three Inter-State Bus Terminals (ISBTs) and two railway stations in Delhi and several other places in NCR.”

They further informed that the government is also deciding to develop elevators, walkways, underpasses, and escalators that will link and help commuters to move easily to these integrated transit corridors.

According to the plan, the three proposed Regional Rapid Transit System corridor will be Delhi-Gurgaon-Alwar corridor, Delhi-Ghaziabad-Meerut corridor, and Delhi-Sonipat-Panipat corridor. All the three corridors will be integrated with Hazrat Nizamuddin Railway Station, Delhi Metro, and the Sarai Kale Khan RRTS.

The Delhi-Gurgaon-Alwar corridor which will be 164 km long will be linked with Munirka, Jorbagh and Delhi Aerocity metro stations.

The Delhi-Ghaziabad-Meerut corridor which will be 82 km in length will be linked with Anand Vihar and New Ashok Nagar Metro stations along with Anand Vihar Railway Station and Anand Vihar ISBT.

The last proposed Delhi-Sonipat-Panipat corridor will be integrated with Kashmere Gate and Indraprastha Metro Stations.

The government has not disclosed the final expenditure and year of completion of this infrastructure development, but once operational, the connectivity between Delhi and nearby NCR areas will improve drastically.

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Paradigm Realty Launches ‘Prime Vista’ In Ghatkopar East

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Paradigm Realty, one of the renowned real estate developers of Mumbai has recently launched their premium luxury property ‘Prime Vista’ in Ghatkopar East, Mumbai. Covered by ample green area, the residential project is all set to give a beautiful life to its residents. The 16 storey tall tower is being developed under the joint venture of Bilakia Group with Paradigm Realty along with Atmiya Properties.

Prime Vista will be providing 1 and 2 BHK apartment along with spacious Jodi flats in different sizes ranging between 386 sq ft to 602 sq ft. All the apartments are furnished with modern facilities along with Grand & Spacious Lift Lobby on each floor, High-speed Elevators, etc. Other than from this, some of the apartments will also give scenic views of Mangroves to the residents.

The residential development houses top-notch amenities that will definitely offer a privileged lifestyle of its residents. Some of them are Full-equipped Gymnasium, Indoor Games Arcade, and Grand Entrance Lobby. With the aim to connect the residents with peace and comfort, the developer has also proposed Sky Life and other recreation activities on the Terrace area like the Party Lounge, Box Cricket, Gazebo Sit-outs, Yoga & Meditation Zone, Children’s Play Area, Senior Citizens Corner, and Trellis Seating.

For a hassle-free living, there is a separate Parking Tower that offers adequate car parking.

The highlight of the project is its location wherein all the prime commercial, business, and residential areas are well-connected to the project. The Eastern Express Highway is nearly 2 Minutes away; BKC is at a distance of 15 minutes, while Eastern Free Way is only 10 minutes away. While, presence of leading schools and residential projects like Rishikul School, Godrej Udayachal High School, and R City make this project an investor’s and as well as homebuyer’s Boon.

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Commercial Projects

Blackstone Is To Buy Office Space In BKC For More Than Rs. 2,000 Crore

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In a recent development, the Blackstone Group has finalized the deal to acquire office space in Mumbai’s Bandra Kurla Complex. This workspace is spread across 700,000 sqft and is valued at Rs. 2,500 crores from the Radius Group. As per the sources, this is the biggest commercial real estate deals till date.

This area is believed to be the plush locale of Bandra Kurla complex, Mumbai.

The sources informed that according to the terms of the deal, the builder Radius group will hold 40% of the space in the area that is being sold currently. The company can, however, revoke their decision anytime in the next two years. This buyback process can be completed at the market rate of that particular time, the sources said.

The Radius group will use this money to repay the more than Rs. 1,600 crores it owes to Indiabulls Housing Finance. The company will also make a payment of Rs. 550 crore to the Mumbai Metropolitan Region Development Authority (MMRDA), the special planning authority for Bandra Kurla complex. This will be the leftover premium for development rights of the plot.

The final working on the deal is hopefully to be carried out by the month-end as the buyer has made an advance payment

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Wadhwa Group Expected To Invest Over Rs. 2, 000 Crores In Panvel Township

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Wadhwa group, the renowned firm is likely to make an investment of Rs. 2,200 crore in the first two phases of the Wadhwa group township in the Panvel location. This is an integrated township and covers 450-acres of land.

The Wadhwa group has a joint venture with GFH, a Bahrain-based financial investment Group is developing this township project in the Navi Mumbai Airport Influence Notified Area [NAINA], the company informed. The realty firm is also deciding to develop the whole project in 5 phases and this is estimated to cost Rs 6,000 crores. The project is likely to be completed in 10-12 years.

The developer is expected to generate nearly Rs. 3,200 crores from the phase-wise development of this integrated project. The Wadhwa group is also planning to construct 138 acres of the total land for overall development.

For the second phase, the company has planned development of apartment and bungalow units in more than 40 acres. The Wadhwa group has already sold 1,500 units in the first phase.

This phase-wise project is designed to have IT parks, retail mall, hospitals, school and more. On 14-acres land, the Wadhwa group is constructing offices and IT parks on 14 acres.

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Lodha, ESR Plans Joint Venture To Develop 89 Acre Industrial Park In Palava

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The well-known realty developer, the Lodha Group went into a joint venture with ESR India the Asia Pacific logistics real firm to develop an industrial park at the Palava City, close to Mumbai.

This park will be named as the ESR-Lodha Industrial Park and is planned to have 17 buildings in the vast area of 89-acres. According to the press release, this Industrial Park will be India’s maiden and largest master-planned industrial park.

Both the Lodha and ESR group are estimated to make an investment of $100 million and the partial area of this project is planned to have non-polluting manufacturing, logistics and warehousing.

Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR said that the company believes that this strategic partnership will be of great help in the expansion of ESR group in India and will also contribute to the growth of logistics and real estate business in India.

This Industrial Park will be developed in a phased-manner and is expected to be built in 30-36 months.

The Lodha group has developed the Palava City that is spread over 4,500-acre in Navi Mumbai.

In the last month, the Lodha group in a joint venture with Godrej and Unimark made an investment in the Co-living startup named Housr. This project is planned to get five properties functionally in the next four months with the availability of 3,500 beds.

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