Bengaluru, Oct 8, 2024: Bengaluru, renowned for its pleasant climate and cosmopolitan vibe, continues to attract people from across India and abroad. The city has rapidly evolved, with new IT parks, townships, malls, and commercial hubs springing up. Its booming economy, combined with exceptional living conditions, has created a high demand for real estate, making Bengaluru a sought-after destination for homebuyers and investors alike.

With the ongoing growth of businesses and job opportunities, Bengaluru’s real estate sector is more vibrant than ever. 2024 has seen buoyant investments across all real estate asset classes, and the momentum is expected to continue through the second half of the year. With increasing market stability and favourable regulatory reforms, real estate investments are proving to be a reliable and profitable option, even amidst global economic uncertainties.

Whether it’s residential or commercial properties, Bengaluru is witnessing a surge in inquiries. Post-pandemic, many are opting for homes nestled in serene, green spaces away from the city’s bustling urban areas. High-net-worth individuals and startup founders are especially drawn to luxury properties and plotted developments in key locations. Real estate has also become an essential diversifier in investment portfolios, thanks to its long-term stability.

To capitalize on this growing demand, The Times of India in association with State Bank Of India hosted a Mega Property Expo. This two-day event held on October 5 and 6, at State Bank of India’s Local Head Office, 65 St. Mark’s Road, Bengaluru promised an excellent opportunity for prospective homebuyers and investors to explore a wide range of projects, both existing and upcoming. With more than 30+ top developers showcased 250+ properties under one roof, attendees engaged in face-to-face discussions, got comprehensive project details to make informed decisions about their next property investment. State Bank of India, the presenting sponsor of this Expo has offered competitive Home Loan Interest Rates and other concessions for Home Loans booked under this Fair.

“SBI being Country’s largest Home Loan provider is excited to collaborate with TOI for this Mega Property Expo. With its 426 Branches, 9 Home Loan Centres, 750+ Sales Force & 900+ Builder Tie Ups, SBI has widespread presence in Bengaluru City. Our esteemed customers had used this opportunity and availed special Home Loan rates & other concessions given during the Expo.” Smt. Joohi Smita Sinha, CGM, Bengaluru Circle, SBI.

Mumbai, October 08th, 2024: As old buildings and many eligible in MMR await redevelopment, there is a need to create enough housing stock for which redevelopment is a better compliant by exploring possibilities of public-private partnerships, stated Dr Bhushan Gagrani, Commissioner, BrihanMumbai Municipal Corporation. He was speaking at a Panel Discussion ‘Society Redevelopment under Various Sections’ organized by NAREDCO Maharashtra on a third-day HOMETHON Property Expo 2024 at the Jio World Convention Centre, Mumbai.

Responding to the demand of reducing the premium on redevelopment by the state’s real estate industry, Dr Gagrani stated that various redevelopment avenues could be structured properly with due feasibility.

Dr Gagrani also emphasized upon the need for incentivizing redevelopment in order to address various issues affecting redevelopment, but also cautioned that the incentive provided had nothing to do with feasibility. “For undertaking any redevelopment project, it has to be financially feasible where awareness among the society members is necessary towards redevelopment”.

Speaking about the BMC’s vision to match the infrastructure with rapid growth of Redevelopment and whether Mumbai would be able to cope up with redevelopment, Dr Gagrani added that Mumbai’s Infrastructure might face challenges when the city would undergo redevelopment. “For surface infrastructure like urban mobility, parking areas, quality of roads, we already have the plans ready. The infrastructure below the land like sewage water, water supply might face challenges, as the amount of water per capita is going up”.

The Commissioner highlighted that Section 33(7A) applicable for redevelopment of dilapidated, unsafe, existing, authorized tenant occupied-buildings in suburbs, had been getting a good response from the private societies, as they were going for competitive bidding from the developers.

Shri Gautam Chatterjee, Former Founding Chairman of MahaRERA advised that incentivizing redevelopment was necessary, but needed to be balanced to take it forward. He stated, “When about 8000 projects are stuck in Mumbai due to timeline issues, there is a need to disseminate knowledge and information to educate the society members and other stakeholders about the processes of redevelopment to be followed and acquaint them with various Acts, Regulations, RERA guidelines, Court orders, etc that are necessary to understand. For disseminating such information transparently and seamlessly, we need a web portal; so that all information is displayed to resolve problems and see that projects are monitored”. He added, “We need e-monitoring methods and an Alternate Dispute Resolution’ for stalled projects. Also, we need a ‘Self-Regulated Organization (SRO) platform like a Section 8 Company for self-regulation”.

Meanwhile, NAREDCO Maharashtra Collaborated with Ex-MahaRERA Chief Shri Gautam Chatterjee for a Launch ‘Grihamony Redevelopment Stakeholders Federations (GRSF)” for Awareness in Redevelopment.

Dr Niranjan Hiranandani, Chairman, NAREDCO and Co-founder, Hiranandani Group, advocated for the need to reduce premium on redevelopment. He said, “The challenge is to match the pace of redevelopment. Reduction of premium would create more affordable housing in the city and hence, at least 50% reduction in premium is necessary. Redevelopment should provide aspirations for a better quality of life”.

Mr. Rajan Bandelkar, Vice Chairman, NAREDCO and Director, Raunak Group said, “It is important to balance viability for the private sector for undertaking redevelopment projects. The Government should incentivize the societies, which undertake self-redevelopment and consume lesser FSI. People who use lesser FSI, there should not be any premium considering the climate change challenge and the issues engulfing the redevelopment agenda”.

Talking about the need to have a conciliation mechanism in Redevelopment, Mr Hitesh Thakkar, Vice President, NAREDCO Maharashtra and Partner, Prem Group, suggested that there needed a framework for resolution of disputes for finding amicable redressal, as the projects would get delayed and entail into high litigation costs.

Ludhiana, 7th Oct 2024 : Hero Realty, known for its innovative concepts, dedication to sustainability, and client-centric approach, celebrated the spirit of Navratra with the unveiling of its new sales gallery for Phase 2 of Hero Homes Ludhiana. Channel partners and other dignitaries were invited to take part in the celebrations, which began with a traditional Havan Puja followed by a brunch.

The sales gallery is a modern showcase of what Hero Homes Ludhiana has to offer. Designed to provide a fully immersive experience and allow potential homebuyers to explore the development’s features firsthand, this cutting-edge space is equipped with advanced technology to give visitors a clear sense of the living spaces and amenities on offer, creating a seamless journey for anyone looking to invest in a home.

Madhur Gupta, Chief Executive Officer of Hero Realty, expressed his enthusiasm for the new gallery, stating, “This is an important milestone for us. The sales gallery is not merely a space it serves as a window into the lifestyle we are cultivating at Hero Homes Ludhiana. We have designed it to provide our customers with a more insightful experience, allowing them to truly appreciate what makes our homes unique.”

Phase 2 of Hero Homes Ludhiana continues to focus on delivering smart, thoughtfully planned homes. With an emphasis on modern living, sustainability, and community, this phase is expected to draw strong interest from homebuyers seeking a balanced lifestyle that combines comfort with contemporary features.

The Navratri event set the perfect tone for the unveiling, starting with the Hawan Puja, a ritual to invoke prosperity and good fortune for all. Afterward, channel partners had the chance to explore the gallery and connect over a relaxed brunch. The gallery itself reflects Hero Realty’s forward-thinking approach, offering a glimpse into a future where innovation meets quality.

Hero Realty continues its commitment to building sustainable, high-quality homes, and Phase 2 of Hero Homes Ludhiana is a prime example of how the company is bringing this vision to life.

Guwahati, 07th October 2024: Staying committed to delivering quality in-house mobility solutions, Nibav Lifts, India’s largest home elevator brand, has introduced its revolutionary Nibav Series 4 Home Lifts. This new launch seamlessly integrates advanced technology with exceptional design, offering Guwahati homeowners an elevated experience of luxury, and convenience equipped with state-of-the-art features such as an AI-enabled cabin display, intuitive LOP display, and LIDAR 2.0 technology for precise navigation and gentle landings, the Nibav Series 4 lifts are a breakthrough in the home elevator industry. Available in an exclusive Midnight Black edition, they offer the most spacious cabin among air-driven lifts. These lifts are crafted with stylish elements including ambient lighting, New Zealand wool carpets, starlight ceilings, and leather finish interiors. The unveiling ceremony, led by Shri Santosh Banka, Architect and attended by senior management from Nibav Home Lifts, took place at the brand’s flagship Guwahati Experience Centre.
Elated over the new product launch in Guwahati, Mr. Vimal Babu, CEO & Founder of Nibav Lifts, said, “We are proud to introduce our latest innovation to the homeowners in Guwahati. Our Series 4 home lifts are crafted to enhance your living experience with unmatched luxury and convenience. Especially with our new Series 4 home lifts, we have focused on marrying two key elements – technology and design, which makes it a statement addition to the interiors of a home. Our brand is renowned in the market for safety and durability, with Nibav Series 4 we have set new standards and offer unparalleled quality. We are confident that homeowners will certainly benefit from our Series 4 lifts.”

Setting a new benchmark in the safety features, Nibav Series 4, lifts are integrated with Rapid Rescue Latch (RRL) for quick and safe evacuation by rescue teams during emergencies. The RRL enables the easy removal of polycarbonate glass, ensuring fast passenger extraction in case of any emergency. With Carbon Seal 2.0 installed, the Nibav has increased the durability of Series 4 lifts, ensuring long-term performance and reliability. The new home lifts are also enabled with GSM connectivity, allowing users maximum safety and flexibility.

The series 4 lifts also are landing cable-free and have notable features like ambient and accent for cabin pillars with leather finish, concealed fans with controls, touch screen display with digital and analog clock and are hand gesture enabled.

The S4 Lifts are available to be experienced at Nibav’s Experience Centre Shop No 1, Sacred Heart Mansion, GNB Rd, Krishna Nagar, Chandmari, Guwahati, Assam 781003

Mumbai, October 07th, 2024: In a spectacular showcase of the Mumbai Metropolitan Region’s vibrant real estate sector, more than 77 new projects were launched at the third edition of HOMETHON Property Expo 2024 organised by NAREDCO Maharashtra, which began at Jio World Convention Centre in Mumbai today. Over ₹10,000 crore worth of inventory has been launched in the MMR region and is being showcased at the expo. This mega event presents buyers with an once-in-a-lifetime opportunity to invest in Mumbai’s most dynamic real estate market. The inventory features a comprehensive range of properties, from affordable housing to luxury residences and premium land parcels, catering to diverse buyer needs.

The expo will be on till October 6, 2024 and has already witnessed a spurt with over 75,000 homebuyers registered for the three-day exhibition to explore various options of property buying in Mumbai Metropolitan Region and other parts of Maharashtra. This year’s registration numbers are almost triple over the last year indicating a huge demand for home ownership by the buyers for housing properties at different locations with multiple price points coupled with attractive offers. Mr Prashant Sharma, President, NAREDCO Maharashtra revealed the fact on the occasion of inauguration of HOMETHON Property Expo 2024.

Mr. Sharma also announced the launch of NAREDCO Maharashtra’s yet another ambitious initiative of ‘Redevelopment Council’ whereby a special window has been set up in the Expo to solicit the enquiries of housing societies from all across the MMR and rest of Maharashtra and facilitate a complete advisory and execution of redevelopment proposals made by the incumbent societies. Until now, over 4000 housing societies have already registered to seek redevelopment proposals.

HOMETHON Property Expo 2024 also saw a unique initiative whereby NAREDCO MAHARASHTRA has put forth its plans to sign a Memorandum of Understanding (MoU) with the Government of Maharashtra to promote eco-friendly and sustainable urban development and instill green building practices among the real estate fraternity. For the same, NAREDCO Maharashtra will soon sign an MoU with Maharashtra State Agriculture Price Commission chaired by Shri Pasha Patel, informed Mr. Rajan Bandelkar, Vice Chairman, NAREDCO.

Commenting on the significance of the expo, Mr. Prashant Sharma, President of NAREDCO Maharashtra said, “The HOMETHON Property Expo will be a game changer for the MMR real estate sector. With over 10,000 crore of inventories up for sale and 77+ new projects launched, this expo will play a pivotal role in addressing the region’s housing demands. It’s the perfect platform for developers and buyers to connect, and with such a diverse range of offerings, we believe there’s something for everyone.”

Dr. Niranjan Hiranandani, Chairman, NAREDCO says, “The housing market is currently experiencing a vibrant surge, fueled by greater job stability, increased disposable incomes, and rising aspirations. Against this backdrop, and with the added excitement of the festive season, this property exhibition is uniquely positioned to help home buyers achieve their long-cherished dream of owning a home.”

Mr. Rajan Bandelkar, Vice Chairman, NAREDCO says, “NAREDCO Maharashtra is dedicated to creating a robust ecosystem marked by trust and transparency, which has significantly bolstered home buyer confidence. This property expo offers an exceptional opportunity for developers to showcase their premium projects and connect with prospective buyers. With exclusive discounted rates and a wide range of options, this event is designed to make the home-buying process more accessible and rewarding for all. We are excited to facilitate this vital connection and support our vision of making home ownership a reality for many.”

This mega event presents buyers with an once-in-a-lifetime opportunity to invest in Mumbai’s most dynamic real estate market. The inventory features a comprehensive range of properties, from affordable housing to luxury residences and premium land parcels, catering to diverse buyer needs. HOMETHON 2024 will also provide visitors with the opportunity to engage in one-on-one consultations with real estate professionals, offering personalized guidance on the home-buying process.

Bangalore, October 7, 2024: Godrej Properties Limited (GPL) , a leading national real estate developer, announced it has achieved its highest ever Q2 and H1 performance on several critical operational parameters including bookings, collections, operating cash flow, and new business development

· Godrej Properties delivers its highest ever Q2 and H1 bookings.

o Q2 FY25 booking value grew 3% YoY to nearly INR 5,200 crore from sale of over 5.1 million sq. ft. This is the highest ever Q2 booking value achieved by Godrej Properties.

o H1 FY25 booking value grew over 89% YoY to over INR 13,800 crore. This was achieved through the sale of over 8,600 homes with a total area of over 14 million sq. ft. This is the highest ever H1 booking value achieved by Godrej Properties.

o GPL has achieved 51% of its annual guidance for booking value for FY25. In the past 5 financial years, GPL has averaged 37% of its full year sales in the first half of the financial year.

o Sales in Q2 FY25 were driven by strong demand in some key new project launches including Godrej Vrikshya in NCR, which delivered a booking value of nearly INR 1,500 crore and Godrej Woodside Estate in MMR, a plotted development project, which delivered a booking value of more than INR 600 crore.

o GPL’s bookings in NCR, Bengaluru & MMR in H1 FY25 grew 69% to over INR 5,400 crore, more than 200% to over INR 3,800 crore and more than 100% to over INR 3,100 crore respectively.

· Highest ever Q2 and H1 collections & operating cash flow (OCF)

o Q2 FY25 collections stood at over INR 4,000 Crore representing a YoY growth of 68% and H1 FY25 collections stood at over INR 7,000 Crore representing a YoY growth of 62%. This is the highest Q2 and H1 collections achieved by Godrej properties respectively. GPL has achieved 47% of its annual guidance for collections for FY25.

o Q2 FY25 OCF stood at over INR 1,800 Crore representing a YoY growth of over 120% and H1 FY25 OCF stood at over INR 2,800 Crore representing a YoY growth of over 200%. This is the highest ever Q2 and H1 OCF achieved by Godrej Properties respectively.

· Strong start to the year for business development

o GPL has added 8 new projects in year-to-date FY25 with a total estimated saleable area of approximately 11 million sq. ft. and total estimated booking value potential of ~INR 12,650 Crore. This included 6 new projects with an expected booking value of 9,650 Crore in Q2. GPL has achieved 63% of its annual guidance for business development in H1 FY25.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale up we have achieved in the past couple of years. The sales bookings of over INR 13,800 crore in H1FY25 surpasses our annual bookings in FY23. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 89%. Importantly, our robust sales performance, has translated into record collections growth of 62% to over INR 7,000 crore and Operational cash flow growth of over 200% to over INR 2,800 Crore in H1FY25. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.

Our business development additions of Rs 12,650 crores in H1FY25 will ensure that we continue to have a strong launch pipeline not just for the current year but for years to come. This includes a number of projects at the prestigious Golf Course Road in Gurugram. We have also entered the market of Indore recently and are looking forward to our first launch in this city. We have built a deep understanding across the key real estate markets in India and are greatly excited by the potential the next several years offer for us to deliver sustained high-quality performance across all key operating metrics.”

Mumbai, 05, October 2024: Kalpataru, a leading real estate developer in the Mumbai Metropolitan Region, is proud to announce the launch of Kalpataru Virtus, a premium commercial property set to redefine the standards of workspace innovation in Vikhroli West.

Strategically located at the heart of Mumbai’s emerging business districts, Gandhi Nagar Junction on the Jogeshwari Vikhroli Link Road, Kalpataru Virtus, offers easy access to Powai and upcoming metro stations. Located just 300 meters from Powai and near two forthcoming metro stations, the project ensures effortless commuting for employees and clients.

Designed as a grade A building to meet the highest sustainability standards, Kalpataru Virtus incorporates advanced energy-efficient systems, including a solar rooftop, organic waste converter, intelligent LED lighting, and a sewage treatment plant. The state-of-the-art 30-storey tower boasts a stunning full-glazed glass façade, creating a bright and inviting atmosphere.

With over 2.5 lakh sq. ft. of carpet area, Kalpataru Virtus offers a diverse range of commercial spaces, from 352 sq. ft. to expansive 13,000 sq. ft. units. Each unit features semi-finished interiors and attached washrooms, providing businesses with the flexibility to customize their workspace to their specific needs.

The building includes several key features aimed at providing functionality and comfort that prioritize sustainability, adhere to green building standards, and feature advanced energy-efficient systems at its core. Strategically located in Vikhroli West, it offers enhanced connectivity, with easy access to Powai and upcoming metro stations. Security and comfort are paramount, highlighted by high-speed elevators, a multi-level security system, and a dedicated visitor registration desk. Additionally, the thriving surroundings boast a wealth of educational institutions, healthcare facilities, and retail options, ensuring a vibrant and convenient lifestyle.

CONNECTIVITY

This project stands out due to its exceptional accessibility:

• By Train: Excellent connectivity through local train services, making commutes easy for employees and clients. The Kanjurmarg station is the closest, just 750 meters away, a short walks
• By Road: Major highways and roads provide seamless connectivity to various parts of the city and beyond
• By Rail: The proximity to rail services adds another layer of convenience for logistics and travel

New Delhi, October 5, 2024: The Federation of Indian Chambers of Commerce & Industry (FICCI) organized the Bharat R&D Summit 2024 in New Delhi, focused on boosting collaboration between industry and academia to drive research and innovation. Leaders from academia, industry, and government gathered to address challenges and explore opportunities for fostering India’s innovation ecosystem.

A FICCI compendium of technologies available for commercialization was also released during the event.

Key Focus Areas: Industry-Academia Collaboration

Ms. Jyoti Vij, Director General of FICCI, highlighted India’s strides in innovation but stressed the need for clear outcome metrics for research success and deeper industry-academia cooperation. She emphasized the importance of avoiding the middle-income trap by advancing towards a ‘Viksit Bharat’ through innovation.

Dr. Akhilesh Gupta, Senior Advisor to the Department of Science and Technology, underscored the role of public-private partnerships in overcoming barriers to technology readiness and called for greater private-sector involvement in research and development.

NEP 2020 and Translational Research as Catalysts for Progress

Prof. Sudhir Kumar Barai, Co-Chair of the FICCI Innovation Committee, discussed how the New Education Policy (NEP 2020) fosters multidisciplinary learning and promotes initiatives like the ‘Professor of Practice’ to bridge academic and industrial gaps.

Speaking on the occasion, Ms Anandi Iyer, Co-Chair of, FICCI Innovation Committee and Director, of Fraunhofer India Office emphasized the need for applied research models, such as Fraunhofer’s, to accelerate commercialization of innovations and better align academic research with industry needs.

The summit featured an exhibition showcasing over 50 research projects, reinforcing the message that increased private-sector investment and trust-building between academia and industry are essential for India to become a global innovation leader.

4th October 2024 – Ganga Realty, a leading Gurugram based real estate developer has taken a significant step towards environmental conservation with the launch of its river-cleaning campaign. Aligned with the Namami Gange Mission, the campaign aims to restore the purity and vitality of India’s rivers. The initiative began with a large-scale cleaning drive at the Namami Gange Chandi Ghat in Haridwar, marking the start of Ganga Realty’s commitment to sustainable environmental practices.

The first river-cleaning event took place on 17th September 2024, with over 100 volunteers, including local community members, participating. The event was graced by dignitaries such as Vishal Sharma, AVP Sales and Shobhit Chaudhary, Senior General Manager at Ganga Realty. Their presence underscored the importance of collective efforts in environmental conservation.

In partnership with Namami Gange and Ganga Vichar Manch NGOs, Ganga Realty employed manual cleaning techniques with active community involvement. The campaign focused not only on cleaning the ghat but also on ensuring proper waste management. Collected waste was carefully segregated for recycling, while non-recyclables were responsibly disposed of to minimize environmental impact.

Ganga Realty’s collaboration with the Namami Gange Mission highlights its dedication to preserving India’s rivers. By addressing pollution and promoting sustainable waste disposal, the campaign supports the government’s broader mission to rejuvenate the Ganga and other rivers.

“We are committed to expanding our efforts across key ghats of the Ganga River and beyond. This is just the beginning of our long-term vision to ensure cleaner rivers and a healthier environment,” said Vikas Garg, Joint Managing Director, Ganga Realty.