MahaRERA Grants One-Year Extension for Palais Royale Completion
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has given luxury residential project Palais Royale in Worli, Mumbai, an additional year to complete construction and secure an Occupancy Certificate (OC) by December 30, 2024. The decision, aimed at ensuring the project’s completion, comes despite buyer frustration over delays of more than a decade.The extension was granted to Honest Shelters, the current promoter, following its application on November 23 to revise the possession date. Originally, the project’s completion was scheduled for December 31, 2021, but it had already rec..
TRU Realty To Launch Rs 2.5 Billion Projects In Mumbai By 2025
TRU Realty, led by former Kolte-Patil CEO Sujay Kalele, is set to enter the Mumbai residential market with two premium housing projects in the Santacruz–Andheri corridor, scheduled for launch in September 2025.Spanning a combined 0.3 million sq ft, the developments involve an investment of Rs 2.5 billion and aim to generate Rs 4 billion in revenue by 2028. Strategically located near Juhu Beach, Andheri Railway Station, and Chhatrapati Shivaji International Airport, the projects are positioned to benefit from limited land availability and strong demand in the city’s high-end housing segment..
DRA Group, Philippines’ Balajadia Ink $100 Million Commercial JV
Chennai-based real estate firm DRA Group has partnered with Philippines-based Balajadia Family Office to jointly develop a commercial project worth $100 million. The collaboration marks a strategic cross-border alliance between the two companies, aimed at delivering premium commercial and retail spaces in India.Under Phase 1, the venture will develop one million square feet of Grade-A office and retail facilities. The partnership was formalised through a Memorandum of Understanding (MoU) signed at the Philippines–India Business Forum in Bengaluru.The equal joint venture will be executed via ..
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