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.

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.”

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

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.

New Delhi, September 04th, 2024: PropEquity, India’s largest real estate data analytics company, has launched a new business vertical “PropAlert” to provide real-time updates and actionable intelligence of construction activities of real estate projects to home buyers of under-construction properties.

PropAlert is the first and only solution in India specifically designed to safeguard the interests of homebuyers after purchasing under-construction properties. Through this innovative service, PropAlert proactively protects homebuyers from the risk of losing their lifetime savings by identifying and addressing potential issues with stalled projects before they escalate. This ensures that buyers are better equipped to make informed decisions and avoid falling into financial traps.

According to a recent report by PropEquity, more than 5 lakh homes across nearly 2,000 projects are stalled. The government is also making significant efforts by already setting up a dedicated committee under the chairmanship of Mr. Amitabh Kant (Ex-CEO, Niti Aayog). The committee has already held five meetings involving various stakeholders, including state authorities, regulators, real estate developers, homebuyers, and financiers. A recent report released by the committee further highlights the dire state of the situation.

The NSE-listed firm said PropAlert is expected to generate a revenue of Rs 12 crore and gain subscribers upwards of 10,000 by September 2025.

PropEquity is already providing the same project monitoring services to over 70 institutions & banks in 100+ cities & towns.

Commenting on this development, Mr. Samir Jasuja, Founder and CEO, PropEquity said, “PropAlert will usher in an era of enhanced transparency, relevant information & real time alerts for the homebuyer of under-construction properties. With an objective to protect the savings of homebuyers, PropAlert endeavours to bridge the knowledge asymmetry that exists between homebuyers and real estate developers. It will facilitate not just homebuyers

in India but also NRI investors to monitor the progress of their under-construction properties at the click of a mouse.”

PropAlert operates on an unbiased audit conducted by in-house civil engineers who perform on-ground visits, capturing real-time pictures and collecting data across over 100 data points. This thorough process ensures that the information provided is accurate and reliable.

Key offerings include:

● Real-Time Construction Progress Alerts, keeping buyers informed about the status of their projects.

● Project & Developer Alerts for Defaults & Delays, helping buyers anticipate and address potential issues.

● Actionable Intelligence, such as exit options, to safeguard buyers’ investments.

● Developer Record Checks to verify the credibility of developers.

● Legal Checks on both projects and developers to ensure compliance and transparency.

● Comparisons of Nearby Projects to help buyers make informed decisions.

● Historical Price Changes, allowing homebuyers to understand market trends and assess project viability.

The company said it has invested over Rs 200 crore in the last 17 years in P.E Analytics Limited, the parent company of PropEquity and will continue to invest Rs 2 crore every month towards monitoring, tracking, and generating intelligence on projects and developers.

PropEquity’s long history of trust, bolstered by 17 years of comprehensive historical data, positions the company uniquely to address the growing challenges faced by homebuyers in India. No other company is equipped to provide such extensive data and insights to the general homebuying public. As a result, PropAlert is poised to tap into this market single-handedly, offering a solution that no competitor can match in terms of depth and reliability.

Renowned Bollywood actor Ajay Devgn has recently leased out his commercial office space in Mumbai’s bustling Andheri area for a monthly rent of Rs. 7 lakh, as per a transaction reviewed by Square Yards. The ‘Leave and License’ agreement, formalized this September, incurred a stamp duty of Rs. 1.12 lakh. Devgn’s office is situated in Signature Tower, is developed by Lotus Developers.

The project is located along the Veera Desai Road in Oshiwara, one of a prime location in Mumbai’s Western Suburbs. It offers seamless access to major highways, metro station, and is just a short distance from the international airport, making it a highly sought-after area for businesses looking for well-connected office spaces. The locality’s vibrant mix of retail, dining, and entertainment options further elevates its status as a business hub.

Square Yards reports that the leased property spans 3,455 sq. ft. (~ 321 sq. m.) and includes three car parking spaces. The agreement, secured with a Rs. 30 lakh deposit, is for a 60-month (5 years) lease term. The actor, along with his wife, is known to own multiple properties within the same project. They are among several Bollywood celebrities, including Amitabh Bachchan, Sara Ali Khan, and Kartik Aaryan, who have also invested in commercial spaces in Signature Tower.

Ajay Devgn is one of India’s most successful and respected actors, boasting two National Film Awards and the prestigious Padma Shri. His performances in films like Singham, Drishyam, and Tanhaji have cemented his reputation as a powerhouse in Indian cinema. Recently, he has continued to capture audiences with standout roles in Bhuj and Maidaan. The actor has Singham Again, Raid 2, and De De Pyaar De 2 in pipeline.