Siddha & Sejal Group opens EOI Phase of Final Tower at Siddha Sky, Sion NX
Mumbai, September 05, 2024: Siddha Group, a leading real estate developer with a national footprint, along with partner Sejal Group is excited to open the EOI Phase of their fifth and final tower; Code named “WOW OR NEVER” at their landmark project, ‘Siddha Sky’ located at Sion NX. Prospective buyers can avail Express of Interest (EOI) benefits worth Rs 21 Lacs, if booked within the offer period of August 29, 2024 to October 3, 2024.
‘Siddha Sky’ is centrally located at Sion NX and comprises 5 towers of 39 storeys’ each; with all the towers connected by Mumbai’s First Rooftop Skywalk. This project offers 2 & 3 Bed Lifestyle Residences. The project also offers 4+ Acres of open spaces, 22,000 sqft of Resident’s Club, and a range of amenities to help residents rejuvenate in a pollution free environment. With amenities like Sky Lounge, hammock seating, amphitheatre, Yoga and telescopic star gazing point, and many more on the Rooftop Skywalk – the occupants will have amazing experiences to cherish.
Mr. Samyak Jain, Director of Siddha Group, said, “We are extremely excited to announce the opening of EOI Phase for the final tower at Siddha Sky. Featuring Mumbai’s First Rooftop Skywalk, this tower is a testament to our unwavering commitment to excellence and our vision of blending modern opulence with timeless comfort. We are very happy at the response received so far. This is the opportunity of the season for buyers to make huge savings by booking now during the EOI Phase!!”
Sion NX is rapidly emerging as a sought-after residential locale in Mumbai, thanks to its proximity to the Eastern Expressway, Freeway, and the forthcoming 32 km Metro 4 corridor linking it to Thane. Furthermore, Atal Setu, connecting Sewri to Nhava-Sheva, has significantly cut travel times to Navi Mumbai, boosting property demand in the area and anticipating a rise in property values.
Siddha & Sejal Group invites home seekers to take advantage of this remarkable offer and become part of a landmark project.
Group Satellite Unveils Exciting Ganesh Chaturthi Offers for Home Buyers
Mumbai, September 5, 2024: As Ganesh Chaturthi approaches, the excitement among the people of Maharashtra is palpable. In celebration of this beloved festival, Group Satellite is offering special, limited-time deals that cater to those eager to buy a new home. With property prices on the rise, these exclusive offers provide a unique opportunity for prospective buyers to invest in their dream home during this auspicious season.
This Ganesh Chaturthi, Group Satellite presents an enticing home buying opportunity at their project Aarambh Avyaan. Amid a thriving real estate market, they are offering 1 BHK homes starting at an all-inclusive price of ₹54.50 Lacs. Homebuyers can make a down payment of just 10% plus Stamp Duty and financial freedom for the entirety of 2024. For every home purchase buyers stand to gain a 10 GM Gold Coin and a Modular Kitchen, merging luxury with practicality. This offer is valid till 18th September 2024 only.
Mr. Himanshu Jain, VP of Sales, Marketing & CRM at Satellite Developers, stated, “Ganesh Chaturthi heralds the beginning of the festive season in Maharashtra, a period when many people are inclined to invest in their dream homes. During this time, developers offer compelling deals, including significant discounts, fully furnished homes, and even holiday packages. With ongoing infrastructure developments across Mumbai, particularly in the western suburbs, both home buyers and investors are drawn to these areas for their strong potential for price appreciation and attractive returns on investment.”
Ultra-Luxury Homes Hit INR 2,443 Cr Sales in 8 Months Across Top Cities
Mumbai, 5 September 2024: The sale of ultra-luxury homes – units priced over INR 40 Cr each – remained unabated in 2024 despite spiralling prices. Latest ANAROCK data finds that a total of 25 ultra-luxury homes were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first 8 months of 2024 for a collective sales value of approx. INR 2,443 Cr. Pune, Chennai and Kolkata did not witness any sales in this rarified price bracket.
Anuj Puri, Chairman – ANAROCK Group, says, “The whole of 2023 saw about 61 deals with a cumulative sales value of approx. INR 4,456 Cr in Mumbai, Hyderabad, and Gurugram. With four months remaining in 2024 and the festive quarter from October to December ongoing, we are likely to see more such large ticket-size residential deals happening before the year is through.”
Of the total of 25 ultra-luxury homes sold in 2024 so far, at least 20 were high-rise apartments worth approx. INR 1,694 Cr. The remaining five sales were of bungalows cumulatively worth about INR 748.5 Cr.
No. of Homes Priced >INR 40 Cr. Sold in Top Cities | |||
Year | Apartment | Bungalow | Grand Total |
2022 | 10 | 3 | 13 |
2023 | 57 | 4 | 61 |
2024 (till Aug) | 20 | 5 | 25 |
Amid the unprecedented rise in demand for ultra-luxury trophy homes in the last two years, Mumbai tops the list of cities with maximum sales of such properties, despite it being by far the most expensive residential market in India. The financial capital unfailingly attracts HNIs and ultra-HNIs who buy ultra-luxury homes for investment, personal use, or both.
“Notably, the average ticket price of homes priced >INR 40 Crore have witnessed a 2% rise in the last 8 months – from INR 1,00,208 per sq. ft. in 2023 to INR 1,02,458 per sq. ft. in August 2024,” says Puri. “A deeper dive into the data reveals that homes priced >INR 100 crore have seen a 14% price jump in the last eight months alone – from INR 1,24,697 per sq. ft. in 2023-end to INR 1,41,904 per sq. ft. in 2024 till date. This double-digit price appreciation in this segment even before the year concludes stands testimony to the unrelenting appetite for trophy homes. Not surprisingly, leading Grade A developers have scaled up ultra-luxury homes supply in the last few years.”
Total Value (in INR Cr.) of Ultra-luxury Homes Sold | |||
Year | Apartment | Bungalow | Grand Total |
2022 | 730 | 440 | 1,170 |
2023 | 4,115 | 341 | 4,456 |
2024 (till Aug) | 1,694 | 748.5 | 2442.50 |
Of the 25 ultra-luxury properties sold across the top cities in 2024 so far, Mumbai alone sold 21 units collectively worth INR 2,200 crore – an 84% share of the total deals in this segment across the top cities. At least 2 separate ultra-luxury home deals collectively worth INR 80 crore were closed in Hyderabad’s Jubilee Hills. Gurugram in NCR witnessed one ultra-luxury home sold for INR 95 Cr, while Bengaluru also closed one deal worth INR 67.5 Cr.
- Of the 25 deals closed across cities this year, 9 were of large ticket sizes worth over INR 100 Cr. each, and a collective sales value of INR 1,534 Cr. Contrastingly, the whole of 2023 saw 10 such large deals for a collective sales value of INR 1,720 Cr. We may see a new peak created in this segment over the 4 months remaining in 2024.
- Apartments remained the preferred property type for HNIs – out of the total 25 deals, 20 were for apartments and the remaining five for bungalows. At least 80% of the total deals were concluded by businessmen, and 12% by senior professionals from across various sectors. Bollywood celebrities and leading legal and medical professionals accounted for the remaining 8%.
Ultra-Luxury Homes Demand – A 3-Year Perspective
Demand for luxury and ultra-luxury homes has been scaling ever-rising heights since the pandemic. With demand soaring, developers have gone on a veritable launch spree for such high-priced homes. If we consider the collective data of 2022, 2023 and 2024 till August, over 99 ultra-luxury residential deals worth approx. INR 8,069 Cr. were closed in the top cities.
- At least 13 deals worth approx. INR 1,170 Cr were closed in 2022, of which at least 10 were for apartments and the remaining 3 for bungalows. Mumbai accounted for 11 of these deals, and the remaining two were closed in Delhi-NCR. Notably, none of the remaining 5 top cities saw such large ticket value deals in 2022. Of the 13 ultra-luxury homes sold in 2022, at least 9 were for units priced between INR 100 – 150 Cr – all in Mumbai City.
No. of Homes Sold City-Wise | |||||
Year | Delhi NCR | Mumbai | Hyderabad | Bengaluru | Grand Total |
2022 | 2 | 11 | 0 | 0 | 13 |
2023 | 4 | 56 | 1 | 0 | 61 |
2024 (till Aug) | 1 | 21 | 2 | 1 | 25 |
The Leela and RedBeryl Partner to Elevate Luxury Travel Experiences
India, 5th September 2024: The Leela Palaces, Hotels and Resorts, one of India’s revered luxury hospitality brands. is thrilled to announce its alliance with RedBeryl, a leading luxury lifestyle management company. This move will offer RedBeryl members access to unparalleled world-class services and a host of privileges across all 12 properties.
The strategic alliance will grant RedBeryl’s customers access to the Leela DISCOVERY membership which also opens doors to over 800 hotels across 100 countries, spanning 40 globally renowned brands as part of the Global Hotel Alliance (GHA).
With the Leela DISCOVERY Titanium membership, RedBeryl members will enjoy a host of privileges, including bespoke local experiences, exclusive room upgrades, and preferred rates, all designed to elevate every moment of their stay. Among the host of privileges accessed via the membership, guests enjoy savings on the best available rate for their stay as well as on fine dining experiences at iconic spots within The Leela including Jamavar, ZLB23 (recognized as The Best Bar in India at Asia’s 50 Best Bars 2024), Le Cirque, to name a few.
Expressing his enthusiasm on the partnership, Mr. Manoj Adlakha, CEO & Founder of RedBeryl, said, “Our collaboration with The Leela represents a significant milestone for RedBeryl. Combining our luxury lifestyle management expertise with The Leela’s unparalleled hospitality, we are delighted to offer our customers an elevated and seamless experience. This partnership not only enhances our brand visibility but also opens doors for new experiences through innovative cross-promotions. As a company, we are always at the forefront of providing customized luxury services to our customers, and this association is a step in this direction.”
Sharing her thoughts on the association, Shweta Jain, Chief Marketing and Sales Officer of The Leela, said, “As desire for bespoke immersive travel experiences continues to rise, particularly among the young affluents, our partnership with RedBeryl is another manifestation of The Leela’s true Indian luxury positioning. Over 60% of luxury travelers are seeking custom, stress-free experiences that align with their lifestyle, which is precisely what The Leela DISCOVERY membership benefits bring to the RedBeryl community. This collaboration is a testament to our commitment to setting new benchmarks in personalized service, ensuring every stay is not just a visit, but a deeply personal and memorable journey.”
RedBeryl and The Leela will launch joint marketing campaigns and co-create exclusive events that highlight the unique benefits of the collaboration and the enhanced experiences available to their discerning clientele.
Six Marriott International Properties in India Transition from Franchise to Managed Operations
Bengaluru, 05th September 2024: Marriott International Inc. announced that six properties owned by SAMHI Hotels Ltd will convert from franchise to managed entities, enhancing Marriott’s managed portfolio across key business cities in India. The transition of Fairfield by Marriott Mahindra World City, Four Points by Sheraton Chennai OMR, Four Points by Sheraton Jaipur, Four Points by Sheraton Pune, Fairfield by Marriott Hyderabad, and Fairfield by Marriott Ahmedabad to the managed portfolio is expected to complete by October 2024.
By leveraging Marriott’s expertise and robust management capabilities, including the company’s extensive global sales and distribution channels, managed properties reach a wide and diverse audience, enhancing their visibility and revenue potential. Additionally, access to over 210 million Marriott Bonvoy members globally provides a loyal customer base, driving consistent and value led business opportunities.
Pranay Verdia, Area General Manager, Marriott International commented – “This strategic transition marks a pivotal step in our commitment to elevating guest experiences. Over the years we have laid a strong foundation of success with SAMHI Hotels and are now poised to build upon that legacy.
“We have a long-standing relationship with Marriott and integrating these hotels further strengthens that. We are very excited about the prospects of these hotels as they reposition, taking advantage of Marriott’s strong management capabilities,” commented Ashish Jakhanwala, CEO of SAMHI Hotels.
The Fairfield by Marriott brand is known for its comfortable, value-driven accommodation options, providing seamless workspaces and restful stays tailored for the ever-evolving global traveller. Complementing this, Four Points by Sheraton delivers functional guest rooms that strike a perfect balance between work and relaxation, enriched by its signature ‘Style via Comfort’ feature.
Guests at these six hotels will enjoy enhanced benefits and offerings under Marriott Bonvoy, Marriott International’s award-winning travel program and marketplace, that gives members access to transformative, eye-opening experiences around the corner and across the globe. Marriott Bonvoy’s portfolio of more than 30 extraordinary hotel brands offers renowned hospitality in the most memorable destinations in the world. Additionally, the properties will undergo upgrades to align with Marriott International’s high standards for quality and service, ensuring a consistent and memorable stay for all guests.
This transition reinforces Marriott ‘s dedication to providing exceptional experiences at every stay, while guests can expect the highest levels of comfort, service, and innovation at these newly managed hotels.