The acquisition represents the transition of one of Madurai’s most distinguished legacy properties into a thoughtfully planned modern residential and commercial plotted community, while retaining its deep-rooted association with the city’s industrial and economic evolution.

As part of the acquisition, G Square Group has announced the name of the project as G Square Temple View Square (TVS), a premium plotted development in Periyar, Madurai, with the project name reflecting the historical association of the land with Mr. T. V. Sundaram Iyengar and the TVS legacy.  Located close to the Periyar Bus Stand, the project enjoys excellent urban connectivity while being situated near the iconic Meenakshi Amman Temple, one of the city’s most revered landmarks.

Speaking on the acquisition and the project, Bala Ramajayam, Founder and Managing Director of G Square Group, said, “This acquisition holds deep personal and professional significance for me. My very first commercial land deal was with the TVS Company in 2011, and to now be entrusted with a property of such historical importance, one that was part of T. V. Sundaram Iyengar’s original landholdings in Madurai, is both humbling and a testament to the trust and enduring relationship we’ve built over the years. It reflects TVS Group’s confidence in G Square’s ability to handle legacy assets with responsibility and vision. G Square Temple View Square represents our commitment to making home ownership accessible and meaningful for Madurai’s growing middle class. Plotted development is often the first gateway for families to invest in their dream home, offering flexibility and long-term value. This project is especially significant because it transitions a century-old legacy landholding into a modern residential and commercial plotted community while preserving its deep cultural context and connection to Madurai’s industrial heritage. Our focus has been to honour this history while creating lasting value for homebuyers and the city alike.”

The overall land parcel, worth Rs. 300 crore, spans 5 acres, of which 1.63 acres is earmarked for residential development and 2 acres for commercial use, with the balance allocated for infrastructure and common amenities. The project comprises 55 plots in total, including 50 residential plots and 5 commercial plots, catering to both end-users and long-term investors.  Residential plots are priced from ₹15,990 per sq. ft. onwards, translating to ₹69.64 lakh onwards per cent, while commercial plots are offered from ₹25,990 per sq. ft. onwards, with pricing starting at ₹1.13 crore onwards per cent.

The project’s strategic location near the Periyar Bus Stand offers easy access to leading educational institutions, premier colleges, and key healthcare facilities.

G Square Group follows a strict no-cash policy, ensures clear documentation, and maintains 100% transparency across every transaction. The company offers plots within city limits at prices below prevailing market value, making land ownership accessible and secure for homebuyers. Through G Square Build Assist, G Square also provides comprehensive post-purchase construction guidance, supporting customers at every stage from Patta to Gruhapravesam and ensuring a smooth, hassle-free journey from plot acquisition to building and occupying a dream home.

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CHENNAI: Brigade Enterprises Limited, the flagship company of Brigade Group and a leading real estate developer headquartered in Bengaluru, has further cemented its presence in Chennai with the acquisition of a prime 5.41-acre land parcel in Velachery, Chennai – one of the city’s most sought-after micro-markets. The deal was facilitated by Knight Frank India, the exclusive transaction advisor. The project will have a gross development value (GDV) of approximately INR1,600 Crore, with a development potential of 0.8 million square feet. The transaction value of the acquisition is INR 441.70 Crores.

This land acquisition marks another milestone in Brigade’s aggressive expansion strategy for Chennai, which is now the group’s second-largest market after Bengaluru. Strategically positioned, the project will offer seamless connectivity to both the IT Corridor of OMR and the Central Business District (CBD), making it an ideal choice for those seeking convenience and accessibility. Brigade Group’s commitment to quality and innovation will be reflected in the signature residences that seamlessly blend aesthetics, functionality, and sustainability. Residents will also enjoy a host of premium amenities.

Key developments in the city by Brigade Group include:

• Brigade World Trade Centre and Tech Boulevard
• Brigade Altius- recently launched in Sholinganallur, about 6.5 acres
• Brigade Xanadu – recently completed township in Mogappai,r about 33 acres
• Brigade Icon on Mount Road, a mixed-use development acquired from TVS in early 2022

These projects reflect Brigade’s multi-sector strategy, spanning residential, commercial, retail, and hospitality segments.

Pavitra Shankar, Managing Director, Brigade Enterprises Ltd., said, “Chennai has grown into our second largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations. We aim to address the strong demand for thoughtfully designed, high-quality residential spaces that resonate with the aspirations of modern consumers. Velachery’s prime location and connectivity make it an ideal choice for creating a vibrant community, aligning with our vision of delivering exceptional living experiences.”

Dineshkumar R. Mishra, Sr. Vice President, Corporate Finance, Audit and Legal, Raptakos Brent & Co., “We are pleased that The Brigade Enterprises Ltd. has acquired this trophy land in the heart of Chennai, as this will unlock great value. The Brigade Group is well known for their landmark edifices across major cities in India, and we expect that this purchase will make a great addition to their portfolio. Also, want to acknowledge the role that Knight Frank India Pvt. Ltd has played as our partners in this venture.”

Reshmi Panicker, Executive Director, Land and Residential Services, Knight Frank India, commented, “Chennai has emerged as a strategic hotspot for leading South India-focused developers. This transaction highlights the increasing appetite for premium locations backed by strong infrastructure and long-term residential demand. The city is firmly on the radar for serious institutional capital and branded players, making a strong case for sustained residential investment.”  

Gaurav Lal, Executive Director, Knight Frank India further added, “The trust a brand like Brigade commands, combined with marquee locations such as this acquisition near a prominent mall and ongoing developments like Brigade Icon on Mount Road, reflects the growing confidence in Chennai’s residential potential. At Knight Frank India, we are delighted to have facilitated a transaction that aligns so closely with the city’s upward trajectory and the group’s vision.”

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Gokhale Constructions has completed the process of purchase of Seth Hirachand Nemchand Smarak Trust’s Seth Hirachand Nemchand Digambar Jain Boarding and plans to undertake the development of 16 Lakh Square Feet ultra premium residential space and some high-end retail at this top-notch location with a revenue potential of Rs. 2500/- Cr. Here, the price of a condominium would start from Rs 7 Cr onwards.

Creation of a hostel spread across 51000 sq ft with all modern facilities and making the existing Jain Temple bigger and better is also an integral part of this proposed development.

Founded by Vishal Gokhale, the first-generation entrepreneur, Gokhale Constructions is currently in the process of developing 2 million sq ft of residential space and about 3 million sq ft of commercial space at some of the most prime locations in Pune. The company has successfully completed over 200 residential projects in Pune and has given homes to more than 5000 families at central locations.

The company is also eying the foray in Mumbai’s real estate market and is in the advanced stages of negotiations for closing the deals of properties at some extremely prime locations in Mumbai.

The post Gokhale Constructions Expands Portfolio with Acquisition of 3.5 Acres in Model Colony for Rs. 311 Crore appeared first on NRI News.

The Company is embarking on mixed-use development, comprising 650+ apartments and some retail/commercial spaces with an aggregate saleable area of over 1.0 msf, to be developed over the next 4 years. The project has an aggregate revenue potential of approx. ₹700 – ₹750 crores. The Company is targeting to launch this project during H2-FY25. SPL envisions crafting a landmark residential project in this upcoming micro market of Pune. The project promises effortless access to IT/ITeS spaces, retail, premium educational institutions, and central parts of the city.

The Project also comes with an option for the development of an additional 8 acres, predominantly retail and commercial. SPL is in the final stages of securing development rights to this additional land, expected to be completed shortly.

Commenting on the development, Murali Malayappan, Chairman & Managing Director, of SPL, said, “This investment is consistent with our asset-light strategy for accelerated growth. Pune is a promising market, and we see significant potential for large, established brands like Shriram. Owing to its proximity to IT/ITeS, Undri has emerged as a vital micro market witnessing significant demand in recent years. We are looking forward to the project launch during this quarter and remain committed to delivering top-notch quality swiftly and ensuring utmost satisfaction for our customers”.

SPL has decided on an entry into the Pune market, as it is the second-largest residential market that has grown strongly in recent years. Pune is predominantly mid-market focused and benefits from customer demography that is similar to SPL’s core markets of Bangalore and Chennai. It is supported by diversified and buoyant economic activity and growing infrastructure investments.

This project acquisition is an integral part of SPL’s pursuit of accelerated growth, whilst remaining asset-light, over the next few years. The project will further fortify its strong project pipeline and support growth momentum going forward. SPL has a strong pipeline of 42 projects with 42 msf of saleable area, including 26 ongoing projects with 24.3 msf of saleable area as of June 30, 2024. Nearly 75% of ongoing projects are already sold and the Company has ‘zero inventory’ in completed projects.

The post Shriram Properties Signs JDA for a prime 6-acre land parcel in Pune appeared first on NRI News.

“The Union Budget 2024-25 presents a visionary approach to urban development that aligns with the aspirations of modern India. We commend the emphasis on sustainable development through solar and renewable energy, city planning, and transit-oriented development, which will create more liveable, sustainable urban spaces that elevate the quality of life for residents. We applaud the government’s commitment to address housing needs, with an allocation of ₹10 lakh crore under the PM Awas Yojana for constructing 3 crore houses. This will boost affordable housing and catalyze economic growth.

Focusing on job creation and skill development, and sanctioning 12 new industrial parks near 100 cities will attract businesses and stimulate urban development. Initiatives like digitization of land records and GIS mapping, combined with workforce skilling, will have a multiplier effect on the real estate sector. The ₹11 lakh crore allocation for infrastructure development will enhance urban quality of life.

The pro-business stance, featuring simplified FDI regulations and the promotion of Rupee-based overseas investments, is appreciated. The reduction in stamp duty for women homebuyers promotes inclusive homeownership.

At Kolte Patil Developers, we focus on creating elevated living experiences that inspire families to achieve superior life quality across cities. We look forward to contributing to shaping India’s urban future, creating spaces that inspire and uplift the aspirations of a rising India.“

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HINJEWADI: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it will develop ~11-acre land parcels in Hinjewadi, Pune.

The development on this land will comprise primarily Group Housing & High Street Retail. The project will have a developable potential of ~ 2.2 million square feet with an estimated revenue potential of ~ INR 1,800 crore *

The land parcel is strategically located near the upcoming Megapolis Metro Station and offers good connectivity to Major IT hubs in Hinjewadi, Pune along with access to schools, hospitals, malls, restaurants, and premium hotels.

Gaurav Pandey, MD & CEO, of Godrej Properties, said, “Hinjewadi is an important micro market for us in Pune and we are happy to add this land parcel to our portfolio. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build an outstanding gated community that creates long-term value for its residents.”

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• Aims at 30% of sales value from Mumbai and Bengaluru by FY 25
• Executed more than 26 mn. sq. ft. across Pune, Mumbai and Bengaluru

PUNE: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune-based real estate player with a growing presence in Mumbai and Bengaluru, has announced an ambitious plan to launch projects totaling ~INR 9,000 crore over the next 14 months across Pune, Mumbai, and Bengaluru. This strategic move is a crucial part of Kolte-Patil Developers’ ongoing initiatives aimed at strengthening its presence in high-potential micro-markets and augmenting its market share.

In particular, Kolte-Patil has significantly bolstered its footprint in key operating regions, with a notable focus on Pune. The upcoming project launches in Pune alone account for approximately INR 6,400 crore. The residential market in Pune continues to thrive, supported by continuous infrastructure enhancements and heightened economic activities. The city’s growth is attributed to resilient urban infrastructure, a high quality of life index, a reasonable cost of living, and a rising per capita income fuelled by robust employment opportunities across various sectors. KPDL’s forthcoming projects are strategically positioned in micro-markets like Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi, and NIBM Road in Pune. These micro-markets have swiftly gained popularity as preferred residential destinations due to their proximity to industrial zones, excellent connectivity, and well-established social infrastructure.

Meanwhile, Mumbai’s launch potential is projected to reach around ~ INR 2,500 crore by FY25. With 15 redevelopment projects in Mumbai (2 completed, 5 ongoing, and 8 planned), the company envisions sales distribution of 70% from the Pune market, with Mumbai and Bengaluru collectively contributing approximately 30% by FY25. This aligns with Kolte-Patil’s diversification goal. The sales guidance targets over INR 3,500 crore in FY25 and approximately INR 4,500 crore in FY26.

In November 2022, Kolte-Patil Developers announced a collaboration with Marubeni Corporation, Japan, securing an investment of INR 206.5 crore for KPDL’s residential project in the Pimple Nilakh micro-market, Pune. Subsequently, Kolte-Patil entered into a second agreement with Marubeni Corporation in November 2023 for a project worth INR 110.9 crore in the Kalina micro-market, Mumbai. These partnerships underscore Kolte-Patil Developers’ commitment to strategic collaborations for robust growth while maintaining financial prudence, positioning the company for continued success in the dynamic real estate landscape.

Rahul Talele, Group CEO, of Kolte-Patil Developers Limited said, “Our dedication to ‘Creation, not construction’ defines a unique approach, transforming structures into landmarks that significantly elevate lives. Demonstrating our prowess, our track record represents the development of over 26 million sq. ft, and our current projects span 33.5 million sq. ft with a strong Gross Development Value (GDV) potential of ~INR 25,000 crore. The resounding success of our flagship project, Life Republic in Pune, is a testament to our focus on quality and adaptability to market demands. Achieving an unprecedented pre-sales figure of 1.7 million sq. ft. at the Life Republic township project in 9MFY24 stands as a pinnacle of our commitment to excellence.

Furthermore, the recent achievements comprise securing two redevelopment projects in the MMR region, with an anticipated top-line potential of approximately INR 545 crore. It is in line with our continuous endeavors to fortify our presence in the city. These projects seamlessly align with our overarching objectives, amplifying the impact of strategic initiatives in society redevelopment. As we forge ahead, our efforts will undoubtedly solidify our distinguished position in our key geographies of Pune, MMR market, and Bengaluru, setting new benchmarks and reinforcing Kolte-Patil Developers as an industry leader.”

Benefiting from the strategic investments in technology, Kolte-Patil ensures expeditious construction, data-driven decision-making, and an integrated omni-channel experience. This underscores its commitment to delighting customers through punctual delivery and flawless execution. Responding to the increasing demand for quality developers, the brand utilizes its robust market position and nurtured customer relationships to deliver value across the entire stakeholder ecosystem. The tri-city company is on track to achieve its diversification objectives through meticulous planning, encompassing new launches and projects across key markets of Pune, Mumbai, and Bengaluru.

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Guyana’s request for provisional measures seeks to prevent Venezuela from proceeding with a consultative referendum planned for December 3, 2023, in its present form. Specifically, Venezuela is asked not to include the First, Third, or Fifth questions in the referendum, nor any question encroaching upon the legal issues to be determined by the Court in its Judgment on the Merits. Additionally, Venezuela is asked not to take any actions that are intended to prepare or allow the exercise of sovereignty or de facto control over any territory that was awarded to British Guiana in the 1899 Arbitral Award.

Venezuela, on the other hand, has asked the Court to reject Guyana’s request for provisional measures, citing its objections to the admissibility of Guyana’s Application. The Application, filed on March 29, 2018, requests the Court to confirm the legal validity and binding effect of the Arbitral Award of 3 October 1899, which established the boundary between the Colony of British Guiana and the United States of Venezuela.

The ICJ will now deliberate on the matter and deliver its decision at a later date. The Court’s decision will be delivered at a public sitting, the date of which will be announced in due course. The ongoing land dispute between Guyana and Venezuela has been a contentious issue for decades, and the ICJ’s decision on the matter is eagerly awaited by both parties.

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MUMBAI: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it had acquired a ~4-acre land parcel near Koregaon Park, an upmarket residential area in Pune. The development on this land will primarily be a luxury group housing project. 

Koregaon Park has an established physical and social infrastructure. The location offers excellent connectivity to all significant social and commercial hubs of Pune city.  

Gaurav Pandey, MD & CEO, of Godrej Properties, said, “We are happy to acquire this land parcel in one of the most premium locations in Pune. The demand for luxury realty has been strong over the past few years. This will be our first luxury development in the city, and we will aim to build an outstanding residential community that creates long-term value for its residents.”  

*based on the current business assumptions. 

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On 19^th August 2018, the memorandum was presented to Chief Minister Shri Conrad Sangma requesting him to take resolve the challenge faced by people. The task was immediately actioned and all legal hurdles despite the Covid 19 Pandemic were overcome, achieving the much-needed demarcation. The CEM is all set to award more than 100 land Pattas to tribal beneficiaries who are the rightful owners in recognition of their long-standing demand for rights over the land.  

Chief Minister Shri Conrad Sangma said, “Right over land is key to the tribal identity of our people. Hence the transfer of Land Rights to the rightful owners is one of our topmost agendas. In the past four and a half years of our tenure, we have done everything to help the people of Reserve Gittim, we have made legal provisions to award legal rights over land to the tribal people of Meghalaya. Going ahead we plan to help tribal people across the state who are facing similar challenges.”

Shri Swapnil Tembe, DC, WGH further added, “Settlement process is very important. For every application, bank application, loan application, and certificate application land documents are important, so the land settlement process is important. There are other areas as such in Tura and District administration revenue branch is surveying about the problems, enforcement staff, DC revenue staff have been instructed to survey and he thank the CM for all these.”

To resolve many problems being faced by the residents of the area different departments such as water, and electricity will coordinate with each other. The beneficiaries couldn’t have been happier: when asked to comment on the development, one of the beneficiaries, Sharon D Sangma said, “In 2018 the CEM started an investigation into the matter since they came across many problems because people did not have land pattas, they could not connect pipelines, electricity and could not apply for Caste certificates. We are grateful that CEM, and CM supported and helped us acquire these land pattas. I would like to thank our Chief Minister for recognizing our genuine aspiration and giving us legal rights over our land, something that we thought wouldn’t have been possible in our lifetime.”

Another beneficiary Remsoni Ch Marak added, “When we went to offices for loans, we were asked if we have pattas and when we could not provide one, we were told we could not apply for big loans. Now that we have got the pattas we are grateful to everyone.”

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