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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Homeowners claim that apartments marketed as temple-facing were sold at a premium, but with new construction underway, these views are expected to be blocked. Many families had purchased these apartments to provide their children with access to Gurukul education within the residential complex.

“At Piramal Vaikunth, we trusted the builder’s assurances and promotional materials. The brochure promised a 2.75-acre temple, but in reality, the ISKCON temple has been allotted just one acre,” said a resident, Rohit Sharma, who moved in last year.

The addition of new towers is expected to bring hundreds more families to the complex, raising concerns about overcrowding and disproportionate population density. Several residents have also reported construction-related issues such as water leakage and substandard quality.

Homeowners have launched a signature campaign and submitted formal complaints to the builder, urging immediate corrective action. “A home is more than just four walls. It’s a promise of trust, and that promise has been broken,” said another resident.

This case highlights the urgent need for stronger enforcement and transparency in India’s real estate sector, ensuring that buyers’ expectations and commitments made during sales are respected.

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PUNE: Gera Developments Private Limited (GDPL), pioneers in premium residential and commercial real estate in Pune, Goa, Bengaluru, and California, today released the July 2025 edition of their bi-annual report, The Gera Pune Residential Realty Report. As Pune’s only census-based real estate study running for 14 years and covering over 2,300 projects and 3+ lakh under-construction homes, the report presents an authoritative, data-driven view of market dynamics for the 12 months ended June 2025.

This year’s report marks a notable transition in Pune’s residential real estate landscape. After seven years of consistent growth in prices, sales, and supply, the market is experiencing a consolidation phase driven by ‘sticker shock’, the cumulative effect of rising prices and increasing home sizes.

While prices rose at a moderate 7.31% year-on-year, this still added significantly to total ticket sizes. Over the past five years, prices have climbed by 40% and average home sizes by 25%, resulting in an overall 76% increase in the average sticker price. Consequently, buyers in the Budget and Upper-mid segments are facing affordability challenges, while affluent buyers are gravitating towards larger, more comfortable homes.

Speaking about the market shifts, Rohit Gera, Managing Director, Gera Developments Private Limited, said, “We are witnessing the market respond to a steep escalation in total ticket size, what we’re calling Sticker Shock. Even though interest rates have come down over the last 6 months, affordability remains a concern as the total outgo for buyers has increased by 76% over five years. The steep increase in sticker price has led to sticker shock and has caused people to slow down their purchase decision, resulting in the demand softening. Developers are responding cautiously by slowing new launches and recalibrating configurations. I expect smaller home sizes to return to the market, making homes more affordable not through pricing corrections but by offering compact yet efficient layouts. For buyers, this is a critical time – choosing projects by developers with strong financial stability is more important than ever.”

Market Trends and Analysis:
• Replacement Ratio: The replacement ratio of 1.08 indicates a mildly oversupplied market. In a cyclical market like real estate, mild oversupply eventually corrects itself, restoring the market equilibrium.
• New project prices: Prices of new projects launched are down by 4.73% over the last year, while the overall market is still on an uptrend.
• East Pune prices rise: East Pune recorded the highest price appreciation across the city, marking a 9.6% growth, followed by West Pune, which saw a 6.8% appreciation.
• Project Landscape: Pune now has 2,605 residential projects under development, up 6.7% over June 2024. However, the market is consolidating, small projects (<100 units) fell 39% since 2018, while large projects (>500 units) surged by 70%.
• Metro Influence: Areas such as Hinjewadi, connected by the new Metro corridors, have seen stable pricing and increased traction from affordability-focused buyers.

Looking Ahead:
Pune’s real estate market is entering a phase of strategic recalibration. While supportive economic signals such as the RBI’s recent 50 basis point rate cut suggest a favourable policy environment, market recovery has yet to gain real momentum. At the same time, transformative infrastructure projects like the Ring Road and Metro expansion are set to redefine growth corridors over the next decade. To stay resilient, developers must focus on rightsized products, calibrated launches, and sharper value propositions tailored to specific segments. As the market evolves to serve a changing demographic, understanding these shifts will be critical for stakeholders navigating this new landscape.

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The PropIndex APR-JUN 2025 report delves into a nuanced market characterized by distinct regional variations and unwavering buyer confidence, predominantly fueled by aggressive infrastructure development across the country.

The report reflects steady end-user demand and investor confidence, with values now settling into a more stable growth pattern. The report identifies a clear divergence in buyer preferences: IT-driven cities like Bengaluru, Hyderabad, Gurugram, and Noida are seeing higher demand for spacious 2BHK and 3BHK homes (approx 80%), contributing to appreciation in larger unit sizes. Conversely, the Mumbai Metropolitan Region (MMR) remains driven by compact homes, with a strong preference for 1BHK and 2BHK units.

Major infrastructure projects are key drivers of appreciation, with Pune (39.4% YoY), Greater Noida (35.3% YoY), and Kolkata (33.2% YoY) demonstrating strong capital value appreciation due to enhanced connectivity. Projects like the Navi Mumbai International Airport and Mumbai Trans Harbour Link are fundamentally reshaping property values.

This quarter, the market observed a notable shift in supply dynamics, with the QoQ supply growth being subdued, marking its lowest increase in the past five quarters, following a period of consistent surge. Although overall demand remains consistent, a notable supply-demand imbalance is present within the affordable housing segment. Demand for units priced under ₹30 lakh and 1BHK configurations continues to exceed available inventory, contributing to competitive pricing in these categories. Premium properties, while seeing interest, have a more balanced supply-demand dynamic.

Commenting on the report, Prasun Kumar, Chief Marketing Officer, Magicbricks, said, “The Q2 2025 PropIndex indicates a maturing Indian real estate market, driven by genuine end-user demand and the transformative impact of infrastructure. The significant capital value appreciation, particularly the 23.9% YoY growth, underscores the sector’s strength. While the overall growth is highly encouraging, the regional nuances highlight evolving buyer preferences and the ongoing need for developers to align supply with specific market demands, especially in the affordable housing segment. We anticipate this positive trajectory to continue, with infrastructure remaining a key growth engine.”

The Magicbricks PropIndex is a quarterly report tracking price trends and demand shifts in key Indian cities, providing comprehensive insights for homebuyers, sellers, investors, and policymakers.

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Speaking on the launch, Vishwajeet Jhavar, Chairman and CEO of Marvel Realtors, said, “At Marvel, we don’t just build homes—we create legacies. With Ribera, we have taken this vision a step further by crafting residences that offer the grace of traditional palace living, fused seamlessly with modern technology, expansive layouts, and a tranquil riverside setting. Boat Club Road is among Pune’s most cherished addresses, and Ribera reflects the aspirations of today’s discerning homeowner who seeks privacy, prestige, and panoramic luxury. It’s not just a residence—a statement of arrival, a rare fusion of old-world grandeur and new-age comfort. In a market crowded with luxury tags, Ribera sets a new benchmark.”

Set for possession in June 2025, Ribera brings a rare blend of scale, setting, and sophistication to the heart of the city. With homes starting at 2,500 sq. ft. and stretching up to a sprawling 10,000 sq. ft. of carpet area, these are among Pune’s most expansive private residences. Ribera stands out not just for its size, but for its sense of permanence. This is more than a luxury home—it’s a future heirloom, crafted for those who value legacy as much as location.

Marvel Ribera offers 3.5, 4, and 5 BHK apartments and penthouses, each carefully planned to provide openness, central air conditioning, great views, and double-height private terraces. The interiors feature imported marble flooring, teakwood doors, branded modular kitchens with built-in appliances, and master bathrooms with Jacuzzis and steam rooms in select units.

Beyond the living spaces, Ribera’s holistic lifestyle ecosystem includes a full suite of high-end amenities: an infinity pool, landscaped promenade, grand lobby, private salon and spa, yoga studio, business lounge, entertainment zone with poker room and bar, and dedicated staff facilities. The residences are also equipped with a centralised apartment management system that allows touch-screen and remote control of lighting, air conditioning, geysers, and more, bringing convenience and customisation to the fingertips of every resident.

The launch of Ribera comes at a time when Pune’s real estate market continues to strengthen, particularly in the high-value segment. As per Anarock’s Q1 2025 report, while overall home sales in the city saw moderation, premium and luxury projects in core locations have held steady, driven by a preference for branded developments, limited land availability, and evolving lifestyle preferences post-pandemic.

Marvel Ribera is a reflection of the way Pune’s real estate landscape is transforming from transactional to experiential, from square feet to tasteful living. As the city continues to emerge as a pole of new money, intellectual capital, and design-led development, Ribera represents the spirit of advancement with elegance.

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Market Cooling, Not Crashing

The report highlights that cities such as Bengaluru and Hyderabad continue to drive growth, with both cities recording 5% quarterly increases in Q1 2025. Bengaluru’s average prices rose to INR 7,881/sqft, while Hyderabad touched INR 7,412/sqft. In contrast, key mature markets such as Delhi NCR, MMR (Mumbai Metropolitan Region), Pune, and Chennai recorded no quarterly change in average prices following an already flat previous quarter, suggesting a plateauing of prices.

Other markets like Ahmedabad and Kolkata also saw moderate increases of 3.8% and 4% respectively in Q1 2025, reinforcing the trend of steady—though decelerating—growth.

“The moderation in price growth observed over the past few quarters indicates a stabilising market dynamic, likely encouraging the return of end-users previously displaced by speculative activity,” said Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com. “This more measured trajectory is critical for sustaining end-user participation while maintaining the value built by investors and developers. In 2025, the market is expected to undergo further consolidation, reinforcing structural fundamentals and enabling steady, sustainable growth.”

Signs of Equilibrium Across Major Markets

The shift toward moderation became particularly evident from Q3 2024 onwards. Between Q4 2024 and Q1 2025, most cities either held steady or posted low single-digit gains. For example:

• Ahmedabad rebounded from a dip in Q4 2024 to register a 4% QoQ growth.
• Kolkata also recovered after a 4% decline last quarter, with a 4% rise.
• Pune remained flat at INR 7,109/sqft, reflecting stability after strong gains in 2023.
• Even in high-growth areas like Delhi NCR, which saw double-digit gains through much of 2023, Q1 2025 showed 0% quarterly growth, indicating a market that is pausing after a sharp upswing.

Macro Drivers Behind Consolidation

The stabilisation phase can be attributed to multiple factors:

• A more discerning buyer base dominated by end-users
• Continued but rationalised investor interest
• A supply pipeline adjusting to real demand rather than speculative pushes

Outlook

The report concludes that this cautious consolidation sets the stage for a more sustainable growth path. With prices plateauing in many cities and rising modestly in others, developers are likely to respond with more calibrated launches. This, in turn, will help maintain momentum while avoiding overheating in the sector.

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PUNE: Birla Estates Pvt. Ltd., a 100% wholly owned subsidiary of Aditya Birla Real Estate Limited, launched its first project in Pune, Birla Punya with an estimated revenue potential value of INR 2700 Crores. Located in Central Pune (Sangamwadi), this is the company’s first residential project in the city spread over 5.76 acres and will feature 1.6 million sq.ft. of saleable area including 1000 exclusive flats, offering spacious and modern living spaces. Drawing inspiration from the city’s rich cultural heritage, local fauna, and architectural essence, the project will feature luxury residential apartments ranging from 1 BHK to 4 BHK across four thoughtfully designed towers. The project will be developed in phases, with Phase 1 offering two towers and 500 units.

Strategically located in the heart of Central Pune (Sangamwadi), Birla Punya embodies the company’s LifeDesigned® philosophy, seamlessly integrating nature, culture, and architecture to create an exceptional living experience. Offering excellent connectivity to Pune’s key hubs, including Shivaji Nagar, Koregaon Park, and Pune International Airport, the project ensures effortless access to the city’s vibrant lifestyle. With direct access to the Mula-Mutha Riverfront, proximity to metro stations, and lush green surroundings, Birla Punya harmonizes urban convenience with nature. Blending the city’s heritage with modern aspirations, the project exemplifies thoughtful planning and timeless elegance, establishing itself as one of the city’s most sought-after residential destinations.

Commenting on this launch, K. T. Jithendran, MD & CEO of Birla Estates said, “As Pune’s real estate market continues to be on the rise, driven by its thriving IT ecosystem and strong infrastructure development, we see that there is a growing demand for premium homes. Moreover, as the cultural capital of Maharashtra, Pune is embracing a more elevated lifestyle, which serves as the inspiration behind our project’s design. With Birla Punya, we aim to set a new benchmark for sophisticated living, offering a seamless balance of contemporary luxury and the timeless charm of Pune.”

Birla Punya will offer an array of 50+ world-class amenities designed to provide a luxurious and holistic living experience. Additionally, the retail villages at the terrace will include alfresco F&B and retail spaces along with a lively riverside promenade, seamlessly integrating the need for community engagement. Birla Punya is committed to sustainable living with eco-friendly practices incorporating features like rainwater harvesting, solar power utilization, and efficient waste management systems.

Birla Estates continues to expand its presence in India’s most sought-after real estate markets. Betting big on the Pune market, the company also acquired a 16.5-acre (3.1 million sq. ft) land parcel in Manjri, Pune last year. Likewise, with the recent launches of Birla Arika and Birla Evara, the company is focusing on the National Capital Region (NCR) and Bengaluru, respectively. 

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MUMBAI: Vascon Engineers Ltd. (VASCONEQ), one of the leading EPC and Realty players with a legacy spanning nearly four decades, marks its entry into the Mumbai market with the launch of ‘Vascon Orchids’, a luxury residential project through a redevelopment initiative on Linking Road in Santacruz West. With a 39-year legacy, Vascon has successfully delivered 225+ projects across 30+ cities and 45+ million sq.ft. real estate projects.

The project has a total expected Gross Development Value (GDV) of INR 300 crore of our sell units. Strategically located in the heart of vibrant Linking Road, Santacruz West, this acquisition aligns with the company’s growth and diversification goals of expanding its presence in Mumbai.

Commenting on this announcement, Siddharth Vasudevan Moorthy, Managing Director, Vascon Engineers Ltd., said, “Mumbai’s redevelopment landscape presents an extraordinary opportunity, driven by the urgent need to modernize aging infrastructure and revitalize its housing stock. With an estimated market valued at over Rs 30,000 crore, the redevelopment market offers immense potential for transformative growth. Mumbai aligns seamlessly with our vision of delivering premium, high-quality living spaces tailored for modern urban lifestyles. Backed by our expertise in both EPC and real estate development, a customer-first approach, and an unwavering commitment to excellence, we are poised to redefine luxury living. Vascon Orchids is set to be a landmark project, marking our strong entry into Mumbai and contributing meaningfully to its ever-evolving skyline.”

Vascon chose Linking Road not just for its reputation but for its untapped potential. Despite being Mumbai’s premier high street, Santacruz West lacked a luxury residence that reflected its prestige. Vascon Orchids fills that gap, offering an unparalleled living experience for those who seek the extraordinary. With a relatively larger land parcel—a rarity in this location—this development introduces an upgraded lifestyle, setting a new benchmark in luxury living. More than just a residential offering, Vascon Orchids represents the arrival of a landmark that redefines upscale living on Linking Road.

Located in a prime location of Shastri Nagar, Santacruz West, and centered around the theme ‘high-street living’ Vascon Orchids will comprise three wings featuring 2 & 3 BHK homes offering 62 sellable units. The project delivers a blend of luxury, comfort, and convenience in one of Mumbai’s most sought-after neighborhoods. Moreover, residents will have access to a meticulously curated selection of rooftop and ground-level amenities, including Bocce Ball, Cornhole, a fully equipped gymnasium, and much more—ensuring that everything they desire is already within reach.

Ensuring seamless connectivity, the project is positioned near the upcoming metro station on SV Road and the Coastal Road Connector, set to land less than 500 meters away—enhancing accessibility to key business hubs and lifestyle destinations across Mumbai.

Santacruz West is an upscale neighborhood in western Mumbai. Its proximity to the international airport and key business districts makes it a hub of activity and growth. The area boasts excellent connectivity via SV Road, the Western Line, the Western Express Highway, and the Bandra-Worli Sea Link, ensuring seamless access to the rest of Mumbai. Additionally, Santacruz West is home to some of India’s top educational institutions, vibrant shopping centers, and a wide range of dining and entertainment options, making it one of the most desirable residential destinations in the city.

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MUMBAI: Tribeca Developers, India’s largest luxury branded residential developer and the largest global developer of Trump-branded projects, has set a new benchmark with the launch of their latest luxury residential offering, ‘The Edge.’  In just 30 days the project, which is a collaboration between Tribeca Developers and Tejukaya, has achieved sales exceeding INR. 1,000 crores, establishing it as South Mumbai’s fastest-selling residential development in recent years.

Situated on a prime 2.5-acre site in Parel, Tower 1 of ‘The Edge’ features 228 meticulously designed residences. The development includes a range of 2, 3, 4 & 5 Bed homes, with prices from INR. 4 cr to INR. 12 cr.

The project is one of the largest projects in South Mumbai and is being developed under the Maharashtra government’s ambitious Cluster Redevelopment Policy.

In January 2024, Tribeca Developers announced a collaboration with the 135-year-old Tejukaya Group on this project, with INR. 200 cr. financing line secured from HDFC Capital.  Subsequently, Piramal Capital provided an additional INR. 120 cr. of credit line. With less than 50% of these financing lines drawn to date, Tribeca doesn’t expect to draw the balance lines.

Mr. Kalpesh Mehta, founder of Tribeca said “Tribeca focuses on building only landmark trophy properties, and our projects have always been extremely well received across India. With The Edge, we pushed the boundaries of luxury well, to the edge, and we are grateful to our customers for rewarding us so robustly on our maiden entry into Mumbai. This is the biggest launch that Tribeca has had in its 12-year journey. The market for luxury residences in India remains strong and buyers across the country are willing to pay huge premiums over competition to acquire homes in trophy projects that are one of a kind, and that is the demand we cater to.”

He added, “Our asset-light approach relies heavily on having extremely strong partners who have strong land expertise, such as Mr. Pranav Tejookaya. This land had been in his family for over 100 years and had 730 families housed in chawls built by his great-grandfather. Pranav bhai’s ability to vacate and get approvals on once in a lifetime site is a big reason for our success.”

Pranav P. Tejookaya, CEO & Managing Director of Tejukaya Group, said “Collaborating with Tribeca on ‘The Edge’ reflects our shared vision for redefining luxury in Mumbai. This location has a deep personal significance for us, and seeing it transformed into an iconic residential address is a proud achievement. With Tribeca’s expertise and our deep-rooted local insight, ‘The Edge’ will set a new standard for luxury living in Mumbai.”

‘The Edge’ boasts an iconic façade with two shimmering glass towers rising 600 feet into the sky and will be among the tallest towers in the micro-market. Design is at the core of the residences with every room featuring Tribeca’s signature openable façade, with full-length sliding windows and glass railings on the outside.

Tribeca is known for developing the largest rooftop in the world in Pune. The rooftop at The Edge will be the most iconic in Mumbai and will be packed with amenities such as the glass-bottom sky bridge. The project has one of the largest amenities programs in the entire micro-market with amenities spread across 4 levels.

For more information, please visit www.tribecadevelopers.com

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PUNE: Birla Estates Pvt. Ltd., a 100% wholly owned subsidiary of Century Textiles and Industries Limited and the real estate venture of the Aditya Birla Group, is all set to expand its presence in Pune with a land acquisition in Manjri, Pune. The land parcel is spread across 16.5 acres with a development potential of approx. 32 lac sq ft and an estimated revenue potential of INR 2,500 Cr.

As part of an Integrated Township, the proposed development will offer a variety of residential unit configurations. Located in the rapidly emerging micro-market of Manjri, Pune, the project is situated on the Pune-Solapur Highway offering seamless connectivity to several IT hubs, including Kharadi, Magarpatta, and Phursungi, as well as the Hadapsar MIDC.

Commenting on this development, K. T. Jithendran, MD & CEO at Birla Estates said, “Pune is a strategic market for us and this acquisition is a step towards our ambitious growth plans. The Pune Sholapur corridor is transforming at a rapid pace and we intend to enhance living standards in Manjri by delivering meticulously designed homes that seamlessly integrate contemporary architecture with thoughtfully chosen amenities.”

Furthermore, the project is conveniently connected to educational institutions, healthcare facilities, and shopping centers, making it a lucrative investment opportunity. The area is poised for substantial growth due to its excellent connectivity to the Pune Ring Road.

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