India's Real Estate Market Will Double To 15.5% Of GDP by 2047

Prestige Estate Launches Rs 13.3 bn Residential Project in North Chennai

Prestige Estate Projects Limited has launched Prestige Palm Court, a residential development at Madhavaram in North Chennai, located on the Grand Northern Trunk Road. The project occupies seven point nine eight acres and is valued at Rs 13.3 bn, comprising 910 premium apartments across five towers with ground plus 22 floors and two basement levels for each tower. The development offers one, two and three BHK unit types with saleable areas ranging from 641 sq ft to 1,827 sq ft. The complete saleable area of the development is one point three eight million square feet (mn sq ft). As part of its ..

Gaurs Group Buys 35-Acre Land Along Yamuna Expressway

Gaurs Group has acquired 35-acre land parcels along the Yamuna Expressway from ICICI Bank for around Rs 7 bn to develop residential projects as part of an expansion plan. The company purchased three land parcels in Sector 18 at an open auction and the largest plot measures 24 acres. The acquisition was reported to be on an as-is, where-is basis with the developer confirming it would settle outstanding dues including external development charges and farmer compensation. The group plans to use the 24-acre site as the primary location for a new launch and intends to roll out three to four housing..

TIAA Global Capabilities Leases 255,713 Square Feet In Pune

TIAA Global Capabilities has leased 255,713 square feet (0.256 million square feet; 0.256 mn) at Panchshil Vantage in Wagholi, Pune, on a 10-year contract. The contractual rent over the term is Rs 320 crore (Rs 3.2 billion; Rs 3.2 bn) for the leased premises, the lease being recorded with P-one Infrastructure for the purpose of carrying out company operations. The move reflects an expansion of the firm's footprint in the city as it consolidates delivery and technology functions. The lease is set at Rs 92 per square foot per month, implying an initial monthly rent of about Rs 2.35 crore (Rs 23...