Pune's Emerging Business District Gets a Crown Jewel from Horizon Developers

Pune, Maharashtra, India 

One of Pune's leading developers, Horizon has created spaces that exude luxury and excellence for over 25 years. Horizon Developers ensure customer delight by maximizing the efficiency of living spaces along with an emphasis on aesthetic value. 

Horizon Highgroves at Koregaon Park Annexe is Horizon's latest high-end, luxury development that is set to become a future landmark with the most luxurious amenities, aesthetic features, elegant design and overall superior quality of homes. 

With 50% of the project completed on time, Horizon Highgroves is all set to become the Koregaon Park and Pune's centre of attention with a host of luxury amenities that give every home the feel and ambience of a grand hotel rather than an apartment complex. Live in the lap of luxury in these quintessential 3, 4 & 5 BHK homes with amenities such as:

•  Decks for stunning skyline views

•  A 11000 Sq. ft. landscaped rooftop terrace with top of the line recreational amenities

•  A rooftop infinity swimming pool

•  A 3000 Sq. ft. air-conditioned & Wi-Fi enabled multipurpose hall 

•  An opulent lounge in the lobby with 4 high-speed elevators

•  A business centre with seamless Wi-Fi connectivity 

One feature however, stands apart from the rest, the location. With easy access to business districts, industrial estates and highways, daily commutes to and from Horizon Highgroves are an easy breeze. Surrounded by neighborhoods at the forefront of culture, the finest hospitality, dining, shopping and entertainment that the city has to offer are within reach at all times. 

From upscale Koregaon Park to corporate Kharadi, hipster Mundhwa and hotspot Kalyani Nagar, everywhere that's anywhere is just a few minutes away from Horizon Highgroves. 

So what exactly lies in store for incumbent home buyers who wish to move into their dream luxury home at Horizon Highgroves? 

Spacious 3, 4 & 5 BHK Luxury Apartments
Horizon Highgroves' 3, 4 & 5 BHK homes are spacious enough to provide plenty of room for residents to grow and thrive in an environment of luxury and ease. 

Minimum Wastage of Floor Space
Every home at Horizon Highgroves is not just luxurious for the sake of it. The emphasis is on functional luxury and that means a smart layout which makes the most of the available space for the features and amenities that really matter. 

Customisable Homes
Every home at Horizon Highgroves is fully customisable with a range of options available for fit-outs and furnishings with the option to also combine two homes into one large dwelling. 

Optimised Furniture Layout
The furniture layout in each home is optimised to allow ease of movement with minimum hindrance to foot traffic.

50% Complete 
The project is well underway with 50% of the work completed and the rest underway. This means there will be no delays in possession. 

Come experience a new form of luxury in the heart of Koregaon Park Annexe and book your dream home today.

Rustomjee Crown: Luxury Homes in the Upscale Southern Neighbourhood of Mumbai, Prabhadevi

Mumbai, Maharashtra, India –

Located in the heart of South Mumbai - Prabhadevi, Rustomjee Crown is suitable for buyers looking for super-premium homes in that part of the city. The project that recorded a significant percentage of sales across South Mumbai & has further strengthened its position as a highly sought-after property. Demanding a premium rate of Rs.72,829 per sq. ft. (source: Zapkey), this project is among the premium offerings by Rustomjee.
 
Spread across 5.75 acres, Rustomjee Crown offers three high-rise towers with lavish 3, 4 & 5 bedroom residences.
 
While the Eden Residences overlook the lush green landscape, the Oceanscape Residences offer serene views of the Arabian Sea as they rise as high as 68 floors. With over 60 amenities spread over 2.5 acres of landscaped podium namely a solitude forest, a viewing deck, an all-weather pool, a lagoon pool, a leisure pool, a floating lounge and many more, one would find it hard to step out from their home.
 
This festive season, Rustomjee Crown has introduced an opportunity called The Limited Period Plan wherein one has to pay just 20% of the apartment value to book a residence.
 
The remaining payment has been spaced out from the date of the first payment till receipt of Occupation Certificate of the property. Talking about the recent sales and new offerings, Mr. Rakesh Setia – Chief Sales Officer, Rustomjee said, “Rustomjee Crown redefines luxury. From the views of the Arabian sea to access to 60+ amenities, this project has everything that a discerning buyer needs. The Limited Period Plan, will surely be a boon to buyers across the spectrum.”
 
Situated in Prabhadevi, a quiet, upscale Southern neighbourhood of Mumbai, Rustomjee Crown is located in proximity to the high street retail destinations, fine dining restaurants and business districts. 

Projected to be handed over in 2023-24, Rustomjee Crown is emerging as a highly sought-after project in Prabhadevi.

About Rustomjee

Rustomjee Group has carved a niche in the ever-growing real estate sector, with a development portfolio of 20 million square feet of completed projects spanning across the Mumbai Metropolitan Region.
 
Rustomjee Group's portfolio includes two township developments in Thane and Virar, as well as large residential developments, commercial spaces, retail, and educational institutions spread across Mumbai City in Prabhadevi, BKC Annexe, Bandra (E), Khar, Andheri, Borivali and Bhandup.
 
Rustomjee Group is committed to adding value to the lives of the homeowners through its core business, corporate social responsibility initiatives and philanthropy. Rustomjee Group ensures that every development blueprint includes child-friendly spaces, parks, playgrounds and learning rooms and thereby encouraging families to spend quality time.

MahaRERA Registration No. Rustomjee Crown Phase 1 - P51900003268, Phase 2 - P51900006367. Listed on the website: http://maharera.mahaonline.gov.in/

Office Sector Leasing Records a 66 Percent Rise, Crosses 42 mn. sq. ft. in 9M 2022

India –

CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today announced the findings of its latest office report, ‘CBRE India Office Figures Q3 2022’. As per the report findings, the office sector in India witnessed gross absorption of 42.1 mn. sq. ft. during 9M 2022, registering a growth of 66% (Y-o-Y). Supply grew by 4% to 35.6 mn. sq. ft. (Y-o-Y). As per the report, Bangalore, Delhi-NCR and Chennai led the space absorption, together accounting for 62% of the total transaction activity in 9M 2022. 

City Highlights:   Bangalore emerged as the frontrunner in overall office leasing in Q3 2022 •  Non-SEZ buildings led overall supply and absorption. •  Key sectors driving absorption included technology corporates (37%) and flexible space operators (35%) followed by engineering & manufacturing (17%) firms.  Hyderabad’s office leasing led by technology corporates •  Space take-up was witnessed mainly across IT segments with a share of 74%. •  Key sectors driving absorption included technology (44%), followed by engineering & manufacturing (23%) and flexible space operators (16%).  Delhi-NCR witnessed sustained occupier traction, led by flex and technology players •  Medium-sized deals dominated the absorption. •  Key sectors driving absorption included flexible space operators (19%), technology (13%), and BFSI (13%).  Mumbai’s absorption was led by several large sized deals by BFSI players •  Space take-up was witnessed across IT and non-IT segments with a share of 43% and 57%, respectively. •  Key sectors driving absorption included BFSI firms (58%), engineering & manufacturing (16%) and flexible space operators (7%).  Chennai’s absorption outpaced supply •  Space take-up was witnessed across IT and SEZ segments with a share of 53% and 39%, respectively. •  Key sectors driving absorption included BFSI (28%), technology (23%), and flexible space operators (18%).  Pune’s absorption led by research, consulting & analytics firms, technology and flex players •  Space take-up was witnessed mainly across IT segments with a share of 72%. •  Key sectors driving absorption included Research, consulting & analytics (36%), technology (26%) and flexible space operators (22%)  Kolkata saw technology firms leading quarterly absorption •  Space take-up was mainly led by IT assets with a share of 89%. •  Key sectors driving absorption included technology firms (37%), media and marketing (18%) and BFSI (13%) companies.  Kochi Quarterly absorption led by tech players •  Leasing activity was primarily witnessed in SEZ spaces. •  Technology firms drove 100% absorption in the city.  Ahmedabad BFSI and flex drive quarterly leasing •  Non-IT spaces accounted for 100% share of supply and 72% of absorption. •  Key sectors driving absorption included BFSI (50%), flexible space operators (46%) and technology corporates (2%).

 

On a quarterly basis, technology corporates continued to drive leasing with a share of

24%, followed by flexible space operators (23%), BFSI players (20%), engineering & manufacturing companies (13%), research, consulting & analytics (5%) and life sciences (3%) firms. The cumulative share of flexible space operators and BFSI firms grew from 22% in Q2 to 43% in Q3 2022. The non-SEZ segment continued to dominate development completions during Q3 2022, as its share rose to 93% from 62% in the previous quarter.

The report points out that small- (less than 10,000 sq. ft.) to medium-sized (10,000 – 50,000 sq. ft.) transactions drove leasing activity with a share of 85%, which was largely stable on a Q-o-Q basis. The share of large-sized deals (more than 100,000 sq. ft.) increased marginally to 7% from 6% in Q2 2022. Bangalore followed by Mumbai, Delhi-NCR, and Hyderabad dominated large-sized deal closures during Q3 2022, while a few such deals were also reported in Pune, Chennai, and Ahmedabad.

With sustained recovery in leasing, moderating vacancy levels and persistent demand for investment-grade assets, the rental recovery continued across cities as multiple micro-markets across Delhi-NCR, Mumbai, Chennai, Pune and NBD Manyata in Bangalore witnessed a rental growth of 1-6% on a quarterly basis.

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, “Compared to 9M 2021, the office sector witnessed a phenomenal recovery in leasing activity in 9M 2022 with the easing of COVID-19 restrictions, a gradual acceleration of return to office (RTO), expansion by occupiers and the release of post-pandemic pent-up demand.
 
The improvement in occupiers’ sentiments was reflected in a pick-up in tenant enquiries and tour requests - in September 2022, the APAC leasing market sentiment index for India continued to be the highest amongst major APAC markets. Though growth in hiring and technology spending is expected to moderate in the short- to medium-term after witnessing an increase post the pandemic, long-term fundamentals are expected to be resilient.”

Ram Chandnani, Managing Director, Advisory & Transactions Services, CBRE India, said, “The technology sector would continue to drive leasing activity during the remaining period of 2022. Space take-up by sectors such as BFSI, flexible spaces, engineering & manufacturing, and life sciences is also anticipated to grow on an annual basis. We also expect the supply pipeline to remain strong and rental values to remain range-bound or witness some growth towards the close of 2022.”

Outlook and other observations 

•  Cautious expansion by occupiers to continue in 2022 

​As inflation persists across most major economies, aggressive monetary tightening by central banks worldwide is expected to continue; therefore, we anticipate a mild economic downturn in several economies in the times to come. The impact of this economic downturn on global corporates’ leasing in India is yet to be determined - as for some these factors may slightly weigh on leasing activity towards the end of the year or in 2023, while for others India may continue to remain an attractive, cost-effective option. 

•  Supply pipeline to remain strong: The supply pipeline remains strong as high-quality, investment-grade supply by leading developers and institutional owners in prime locations would continue to draw flight-to-quality space take-up. Bangalore, Hyderabad and Delhi-NCR are anticipated to continue to dominate supply in the coming quarters. Non-SEZ buildings would drive development completions, while the share of SEZ supply is likely to decline going forward. Moreover, a strong leasing performance in 2022 is likely to cause vacancy rates to dip marginally or remain range-bound across cities by the end of the year. 

•  RTO to pick up amidst hybrid working arrangements: With pandemic restrictions completely lifted across cities, RTO is likely to continue to pick up as varying occupancies are currently observed across offices. Hybrid working would also enable occupiers to strengthen portfolio agility and shield themselves from economic fluctuations. 

•  Rising fit-out and construction costs: Inflationary pressures caused by demand-supply imbalances and supply chain disruptions post COVID-19 led to an escalation in raw material and labor costs this year – leading to increase in new fit-out, construction and operating costs. To mitigate these challenges, occupiers may also adopt strategies such as re-evaluating their CapEx plans with respect to fit-out and other capital-intensive programmes; develop budgets in advance to account for RTO and cost inflation; consider ownership as a hedge against inflation; attract and retain facilities management staff and vendors; reduce energy costs; automate basic manual tasks through smart building technologies and proactively manage supply chain risks. 

•  Technology, wellness, and sustainability to be high on occupiers’ agenda: Occupancy sensors to track space utilization and enhanced video conferencing to optimize the meeting experience are some of the tools that the occupiers are likely to adopt to ensure the smooth functioning of hybrid working models. Also, with the rising awareness about wellness and sustainability in the workplace, several occupiers are considering initiatives such as enhancing indoor air quality, integrating touchless technologies, fitness facilities, etc. to improve employee health & well-being.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
 
CBRE was the first International Property Consultancy to set up an office in India in 1994. Since then, the operations have grown to include more than 10,000 professionals across 15 offices with a presence in over 80 cities in India. As a leading international property consultancy, CBRE provides clients with a wide range of real estate solutions, including Strategic Consulting, Valuations/Appraisals, Capital Markets, Agency Services, and Project Management. The guiding principle at CBRE is to provide strategic solutions that make real estate holdings more productive and economically efficient for its clients across all service lines. Please visit our website at https://www.cbre.co.in/

Pre-Leased Property Investment Is Hot Right Now – The Safest Bet At The Moment!

Counted as one of the important capital appreciation avenues, real estate investment has emerged as a stable, smart, and profitable choice for many, offering varied forms of diversification. When it comes to the commercial real estate segment, commercial spaces including retail and office, are high in demand for investment providing a secondary form of income.

Owing to its hefty investment, commercial real estate can be considered an expensive affair, meant specifically for UHNIs, HNIs, or corporates. But this is not the case. Over the years, property investment has gained prominence and also captured the attention of professionals equally and this investment is definitely within their reach. As compared to a residential space, the most conventional form of investment, rents and lease both are much higher and longer in a commercial space. Thus, initial investment and returns too are much more than the former counterpart. Not to forget, factors, such as stable returns, tax benefits, and ownership of property, adds to the popularity of a commercial space situated at a prime location.

Finding the right tenant with a profitable income is one plaguing question in everyone’s mind as this impacts significantly one’s loan repayment plans and other financial decisions. This is where pre-leased commercial properties come into the picture. At the time of buying the asset, the investor is assured of consistent income from Day 1 itself with all acquired documentation in place.

Providing more stability and medium to low risk to investors, pre-rented commercial properties are the safest and most secure investment. With quick saleable routes available, the demand for Grade-A properties is all-time high with pre-leased properties offering an average of 12-18 per cent return, combining capital appreciation and rental increase. The demand for pre-leased commercial properties is also expected set to surge within one year.

The responsibility of maintaining the property also lies with the tenant. Pre-leased properties give one an option of securing rental with a minimum 3-year lock-in period to well-known companies. With our country demonstrating economic growth, demand for commercial space will rise and so will the ROI of investors.

Investment in a commercial property is a safe and lucrative avenue providing multiple advantages, such as capital appreciation, regular income, secured property, and compliance information, and a trusted consultant plays a vital role in taking commercial investment decisions ranging from a single property to curated collection of many assets, besides strategic support through all the phases of transactions, including legalities, documentation and transfer process. Realistic Realtors is India’s leading and eminent commercial real estate advisory firm that has etched its indelible footprint in over 425 cities. Backed by its 2-decade experience in real estate and market intelligence, it offers a complete spectrum of personalized and end-to-end Investment Advisory services to its patrons.

Embassy REIT Announces Q2 FY2023 Results, Delivers Another Strong Quarter With 1.6 Million Square Feet Total Leases

Bangalore, Karnataka, India –

•  Leased 1.6 msf at 22% leasing spreads, including 0.6 msf new leases and 0.5 msf pre-commitment to ANZ(1)

•  Launched 2.5 msf new and redevelopment projects, highest ever active development pipeline of 7.1 msf

•  Grew net operating income by 13% YoY; strong balance sheet with 66% of total debt at fixed rates​

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results for the second quarter ended September 30, 2022. The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs. 5,175 million or Rs. 5.46 per unit for Q2 FY2023. The record date for the Q2 FY2023 distribution is November 1, 2022, and the distribution will be paid on or before November 4, 2022.
 
Vikaash Khdloya, Chief Executive Officer of Embassy REIT, said, “We are pleased to deliver another excellent quarter of 1.6 msf of total leasing and remain on track to meet our FY2023 guidance. Despite recessionary concerns globally, the world’s best companies continue to partner with institutional landlords like Embassy REIT to capitalize on India’s structural advantages as a scalable and cost-efficient tech talent hub. With 7.1 msf of best-in-class development, a fortress balance sheet with low leverage, and debt at attractive 7.1% cost with majority at fixed rates, we are well positioned to deliver the next phase of growth.”
 
Business Highlights 

•  Leased 1.6 msf across 27 deals, including 0.6 msf of new leasing and 0.5 msf pre-commitment by ANZ (1) at Embassy Manyata

•  Added 15 new high-growth occupiers; achieved 22% positive leasing spreads on 1.6 msf and 14% rent escalations on 2.7 msf

•  Received 5-star ratings for entire portfolio from GRESB and the British Safety Council, both globally renowned ESG and wellness certifications 

Financial Highlights 

•  Grew Net Operating Income by 13% YoY to Rs. 7,038 million with operating margin of 82%

•  Grew Net Asset Value by 3% YoY to Rs. 400.71 per unit; announced distributions of Rs. 5,175 million or Rs. 5.46 per unit

•  Maintained strong balance sheet with low leverage of 26% and Rs. 112 billion proforma debt headroom

•  Refinanced Rs. 7.5 billion debt resulting in 7.1% interest cost for Rs. 136 billion debt book, with 66% at fixed rate for 2.3 years 

Growth Highlights 

•  Launched 1.2 msf office block redevelopment at Embassy Manyata, Bangalore, at attractive 22% yield on cost

•  Kickstarted 1.3 msf new office developments at Embassy Manyata, taking our active development pipeline to 7.1 msf with total capital investments of Rs. 32 billion and over 80% in Bangalore, India’s top-performing office market

•  Signed non-binding offer letters for the potential acquisition of two high-quality office properties in Bangalore and Chennai from Embassy Sponsor and its affiliates; properties total 7.1 msf of leasable area, of which 3.7 msf is completed or nearing completion 

Investor Materials and Quarterly Investor Call Details
 
Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) reviewed condensed consolidated and reviewed condensed standalone financial statements for the quarter and half ended September 30, 2022, (ii) an earnings presentation covering Q2 FY2023 results, and (iii) supplemental operating and financial data book that is in-line with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.
 
Embassy REIT will host a conference call on October 21, 2022, at 11:30 hours Indian Standard Time to discuss the Q2 FY2023 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.

About Embassy REIT
 
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 43.2 msf portfolio of eight infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 33.4 msf completed operating area and is home to over 200 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. For more information, please visit www.embassyofficeparks.com.

Disclaimer
 
This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.
 
This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained, such as COVID-19. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements.
 
This press release also contains certain financial measures which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT's financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments. Actual legal entity name of occupiers may differ. The non-binding offer letters are subject to diligence, entry into definitive agreements and obtain approvals, including from third parties, unitholders and regulatory authorities to the extent applicable. There is no assurance that any transactions will be entered pursuant to the offer letters or the terms and timing of any such transactions.

Birla Estates Acquires 10 Acre Land Parcel in Bengaluru; Eyes Revenue Worth INR 900 Crores

Acquisition of the land parcel in Raja Rajeshwari Nagar marks Birla Estates’ fourth project in Bengaluru, to hit the market by 2023 

Bengaluru, Karnataka, India – Birla Estates Pvt. Limited, a 100% wholly owned subsidiary and the real estate arm of Century Textiles and Industries Limited (CTIL), announced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru. The project has a development potential of 1 Mn sq. ft. with a revenue potential of INR 900 Crores.

The land parcel is located in a well-developed neighbourhood that is easily accessible from the Outer Ring Road as well as the 10-lane Bengaluru-Mysore Highway. It is one of the largest land parcels available for vertical development in the vicinity, dominated by plots and individual houses and Birla Estates plans to launch a premium residential development. This is in line with other land parcels developed by Birla Estates across the company’s key markets.

Commenting on the company’s new project, Mr. K.T Jithendran, CEO, Birla Estates said, “We are delighted to announce our fourth project in Bengaluru at Raja Rajeshwari Nagar. Being one of the largest land parcels in this location, it is a perfect fit for our vision to create LIFEDESIGNED© urban premium options for residents of south Bengaluru. This outright acquisition is in line with our aggressive expansion plans across key markets of Bengaluru, MMR, Pune and NCR regions.”

To date, Birla Estates has launched two projects in Bengaluru – Birla Alokya at Whitefield and Birla Tisya in Rajajinagar. The third project, announced in early 2022 is an integrated mini-township project in North Bengaluru. Both the projects are expected to be launched in the next financial year.

Currently, Birla Estates has five ongoing residential developments spread across the Mumbai Metropolitan Region (MMR), Bengaluru, and the National Capital Region (NCR) – with new projects planned in each of these markets.

About Birla Estates

Birla Estates Private Limited is a 100% wholly owned subsidiary of Century Textiles and Industries Limited (CTIL), foraying into real estate. The initial focus of Birla Estates is leveraging the trust it enjoys, to make a difference in the sector and add value to the consumer through development of premium/higher mid-income residential housing. In the long term, the company is focused on developing world class residential, commercial and mixed-use properties and to be amongst the top real estate companies in India. Birla Estates will use a capital efficient, asset light model to source Joint Venture, ideally in Mumbai, MMR, Pune, Bangalore and NCR – which account for around 70% of the Pan India residential market – and develop the brand. The company’s focus on efficiency in design, customer centricity, sustainability and execution excellence will differentiate its offerings from those of its competitors. The company is headquartered at Mumbai and currently has regional offices in NCR and Bangalore. The business has a well- established commercial portfolio with 2 grade-A commercial buildings located in Worli, Mumbai with ~6 lakh square feet of leasable area. Birla Estates is working on developing the valuable portfolio large of land owned by CTIL. These parcels are located in prominent micro-markets of Mumbai – Worli / Prabhadevi / Kalyan, Pune – Talegaon & Bangalore. 

Embassy REIT Inaugurates EcoHub, an Integrated Waste Management Centre in Bengaluru Benefitting 4000 Households

Bengaluru, Karnataka, India

Embassy REIT, in partnership with The Anonymous Indian Charitable Trust (TAICT) and the Bettahalasuru Panchayat, today inaugurated EcoHub, an integrated solid waste management centre in the presence of Shri Krishna Byre Gowda, Honourable MLA – Byatarayanapura in North Bengaluru. The project was built under Embassy REIT’s flagship waste management initiative ‘EcoGram’ and will benefit around 4000 households across 10 villages.

The project will be instrumental in providing decentralised, sustainable solid waste management services to the Bettahalasuru Panchayat as well as large commercial establishments in North Bangalore. It has also created employment and livelihood opportunities through waste stream management.

Sri Krishna Byre Gowda, Honourable MLA – Byatarayanapura, said, “Since 2016, Embassy and TAICT have been committed to creating a sustainable model Gram Panchayat in North Bangalore. Developing solutions to tackle the issue of waste is critical. This new integrated waste collection centre will go a long way towards promoting a more sustainable waste management system, benefitting 10 villages in the Bettahalasuru Panchayat. We hope that this model can be replicated through Bangalore, making the city brighter, cleaner, and more engaged.”

Shaina Ganapathy, Head of Community Outreach, Embassy Group, said, “EcoGram has become a benchmark in developing a sustainable model that can act as a blueprint for corporates looking to partner with the Gram Panchayat to create sustainable waste management solutions. Thanks to the awareness efforts carried out by TAICT, the Panchayat has already reached a segregation level of around 85% for households and 92% for bulk generators. Our aim is to continue building processes and infrastructure that catalyse communities and enable us to have a wider impact.”

Myriam Shankar, Managing Trustee, The Anonymous Indian Charitable Trust, said, “We are very grateful to Embassy REIT, our CSR partner who has supported us throughout this journey. Instead of dumping waste indiscriminately, we are now processing close to 3 tonnes a day segregated into 42 categories of dry waste and composting the organic waste to give it back to farmers rather than polluting our land indefinitely. With this facility, 90% of the waste generated can now be turned into resources, whereas disposal previously posed a serious health risk. The EcoHub is also a place where people who work with waste can do this safely and with dignity, and Hasirudala Innovations was a natural partner for operations, as their mission is to achieve this.”
 
To encourage responsible waste management practices in and around its business parks, Embassy REIT rolled out EcoGram in 2016, in partnership with TAICT. EcoGram aims to create a model Gram Panchayat by building processes and infrastructure for sustainable decentralised waste management, enhancing the soil quality and water conservation to strengthen the foundations of responsible growth by bringing together community members, local governments, and government school children. Prior to EcoGram’s project and initiatives, debris from around 2500 waste generators (at the rate of 53 metric tons per month) were being dumped and burnt, causing air, water, and soil pollution.

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.8 msf portfolio of eight infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 33.8 msf completed operating area and is home to over 200 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. For more information, please visit www.embassyofficeparks.com

Never Before, Never Again Prices at the Dosti Home Buying Festival

Mumbai, Maharashtra, India –

•  Celebrating the 10th year of Dosti Friendship Month

•  1 BHK, 2 BHK, 3 BHK, and 4 BHK configurations with fabulous offers

•  Special Spot Booking and Happy Hours Offers over and above

Dosti Realty, a name synonymous in the realty segment for developing ground-breaking projects and transforming skylines is back for that favourite home buying time of the year as they announce the commencement of the 10th Season of its popular Dosti Friendship Month.

Aimed at strengthening its relationship with its existing and potential customers, Dosti Realty brings fabulous offers and incentives for serious home buyers every August. Dosti Friendship Month is a great opportunity for anyone looking to buy a home at an incredible price. This being the 10th year of the celebration month, the offers are much bigger and better for both home buyers as well as the channel partner fraternity.
 
The offers are spread across Dosti’s 5 ongoing projects Dosti Eastern Bay at New Wadala, Dosti Mezzo 22 at Sion, Dosti West County – Dosti Nest, and Dosti Tulip at Thane (W), and Dosti Planet North – Shil Thane.
 
There is a special 5.99% subvention home loan interest for 24 months / Pre - EMI Holiday offer*** from financial institutions to reduce the pressure of the initial output that one might incur on select projects. Besides this, Dosti Realty is offering a 0% stamp Duty and Registration Charges Benefit across all these projects. 
 
Considering this is the 10th year of Dosti Friendship Month Celebrations the surprises don’t stop here. If you ‘Act Now’ you will definitely ‘Go WOW’ with the Happy Hours* and Spot Booking Offers* across all the projects that help a serious home buyer, get additional benefits on an instant purchase. 
 
This year’s special campaign has been designed to ensure potential customers benefit by raising their property purchase experience. In Dosti Eastern Bay at New Wadala, one can purchase luxurious 2, 3, and 4 BHK Homes from Rs. 2.06 CR onwards** with GST and other charges additional. Another surprise at Dosti Eastern Bay is also the Launch of higher floor residencies with Deck*. At Dosti Mezzo 22 the newly launched projected in the heart of Sion exquisite 2 and 3 BHK apartments are priced at Rs. 2.11 CR onwards** with GST and other charges additional.
 
For the Thane (W) projects Dosti West County – Dosti Tulip and Dosti Nest there is an additional benefit of Any Floor, Same Price*. So, in Dosti Tulip one can get 2 and 3 BHK Homes with the best of County Living at Rs. 1.09 CR onwards** (All inclusive). While the 1 BHK Homes at Dosti Nest which offer an-inclusive lifestyle are at Rs. 44.04 Lakhs onwards ** (All inclusive)
 
At Dosti Planet North – Sector 3 in Shil Thane, there is Gold Offer worth up to 3.89 Lakhs*. So, 1 BHK homes are at Rs. 44.90 Lakhs onwards** (All inclusive) while the 2 BHK Homes are at Rs 57.69 Lakhs onwards** (All inclusive) and there are 3 BHK’s also available.
 
Commenting on the campaign, Mr. Deepak Goradia - Chairman and Managing Director, Dosti Realty, says, “Dosti Friendship Month is the annual chance for serious home buyers to get their dream home at a phenomenal price. Dosti Realty has always tried to create a ‘friendly' relationship with its customers which extends well beyond the closing of a sale. As we all know, friendship day is generally celebrated in August, so 10 years back we thought why not celebrate it for a whole month. This is our token of friendship to our potential customers welcoming them to become a part of the Dosti Realty family. Over the years this has been well appreciated and people now look forward to it because of the amazing savings benefits. The past 2 years have enlightened people on the importance of owning a home both from an investment and lifestyle point of view. We hope to fulfill these aspirations by making their dreams a reality and creating ‘Friends for Life’.”
 
Dosti West County- Dosti Tulip project is registered under MahaRERA No. P51700032666, Dosti West County- Dosti Nest - Phase 1 project is registered under MahaRERA No. P51700033640, Dosti West County- Dosti Nest - Phase 2 project is registered under MahaRERA No. P51700033663, Dosti Eastern Bay-Phase 1 is registered under RERA No. P51900025142, Phase 2 is registered under RERA No. P51900030769, Phase 3 is registered under RERA No. P51900032067, Dosti Mezzo 22 is registered under MahaRERA No. P51900026976, Dosti Planet North - Sector 3 is registered under MahaRERA No.: P51700034985 and are available on the website -https://maharerait.mahaonline.gov.in under registered projects. For Dosti West County Strategy Partner is Anarock Property Consultants Pvt Ltd with MahaRERA registration no. A51900000108 is available at https://maharera.mahaonline.gov.in. 

Please note that the sale/lease of premises in the above-referred project shall be subject to and governed by the terms and conditions of the Agreement for Sale/lease. ***Financial Institution Pre-EMI & Subvention Scheme subject to eligibility. Valid for Dosti Eastern Bay, Dosti Mezzo 22, Dosti West County- Dosti Nest & Dosti Tulip. **After deducting monetary benefits instead of the offers. *T & C Apply.

About Dosti Realty

Dosti Realty has been in the real estate business for over 4 decades and delivered more than 127 properties to date, providing homes to over 10,000+ families. Encompassing a portfolio of having delivered over 11.44 mn. sq. ft. and currently constructing around 6 mn. sq. ft. across Mumbai and Thane, the company has experience in various development types, be it Residential, Retail, IT Parks, etc. Over the years, it has been known for its Aesthetics, Innovation, Quality, Timely Delivery, Trust, and Transparency, Values that have built lasting relationships. 

Embassy REIT Announces Q1 FY2023 Results, Delivers Record 1.8 Million Square Feet of Total Leases

Bangalore, Karnataka, India–

•  Achieves highest quarterly deal activity since April 2019 listing; signs 25 deals totaling 1.8 msf

•  Secures 550k sf pre-commitment from JP Morgan at Embassy TechVillage in Bengaluru

•  Grows NOI by 9% YoY; ₹27 bn capex investment on development pipeline to drive growth

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the first quarter ended June 30, 2022.

Vikaash Khdloya, Chief Executive Officer of Embassy REIT, said,
“We are delighted that the first quarter of FY2023 is off to a solid start with a record 1.8 msf of total leasing. We are witnessing expansion across tech occupiers and global captives in India, with Bangalore continuing to lead India’s office demand revival. We continue to invest for growth and the 550k sf pre-commitment at Embassy TechVillage underscores our strategy of accelerating development of our 4.6 msf ongoing projects. Our conservative balance sheet, with a significant portion of debt locked-in at fixed rates, positions us well to finance future growth.”

Business Highlights

•  Leased 1.8 million square feet (‘msf’) across 25 deals, including 550k sf pre-commitment from JP Morgan at Embassy TechVillage (‘ETV’)

•  Added 15 new high-growth occupiers in sectors like cloud, cybersecurity, renewables, and healthcare tech; increased customer base to 214 blue-chip occupiers

•  Achieved 16% positive leasing spreads on 1.3  msf and 15% rent escalations on 1.9 msf 

Financial Highlights

•  Grew Net Operating Income by 9% YoY to ₹6,773 million, with operating margin of 82%

•  Maintained strong balance sheet with low leverage of 27%, over ₹108 billion debt headroom to finance future growth

•  Locked-in additional 19% debt at fixed interest rate for FY2023, 64% of debt already at fixed interest rate for 3 years

Growth Highlights

•  Accelerated development activity on 4.6  msf ongoing office projects, including 1.9 msf at ETV

•  Ramped-up construction of 518 key Hilton Hotels at ETV, on the back of successful launch of 619 key Hilton Hotels at Embassy Manyata

•  Evaluating Right of First Offer (‘ROFO’) invitation for 5 msf Embassy Splendid TechZone, Chennai from Embassy Sponsor; of this 1.4 msf is completed, and 1.6 msf is currently under development 

The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of ₹5,052 million or ₹5.33 per unit for Q1 FY2023. The record date for the Q1 FY2023 distribution is July 29, 2022 and the distribution will be paid on or before August 5, 2022.
 
Investor Materials and Quarterly Investor Call Details
 
Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) reviewed condensed consolidated and reviewed condensed standalone financial statements for the quarter ended June 30, 2022, (ii) an earnings presentation covering Q1 FY2023 results, and (iii) supplemental operating and financial data book that is in-line with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.

Embassy REIT will host a conference call on July 21, 2022, at 17:30 hours Indian Standard Time to discuss the Q1 FY2023 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.
 
Disclaimer
 
This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.
 
This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, including the impact of COVID-19 on us, our occupiers and the Indian and global economies, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained, such as COVID-19. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements.
 
This press release also contains certain financial measures which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT's financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments. Actual legal entity name of occupiers may differ. There can be no assurance that Embassy REIT will enter into any definitive arrangements for the acquisition of Embassy Splendid TechZone, Chennai from Embassy Sponsor. 

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.8 msf portfolio of eight infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bangalore, Mumbai, Pune, and the National Capital Region (‘NCR’). Embassy REIT’s portfolio comprises 33.8 msf completed operating area and is home to over 200 of the world’s leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under‑construction hotels, and a 100 MW solar park supplying renewable energy to tenants. For more information, please visit www.embassyofficeparks.com. 

Spread Over the Flourishing Realty Hub of Noida-Greater Noida, Ace Group Projects Offer Irresistible Choices to Discerning Property Buyers

As property buyers are spoilt for choice so Ace Group offers a wide array of residential and commercial properties in Noida-Greater Noida

New Delhi, Delhi, India

Driven by the strong pent-up demand for luxury and affordable luxury properties in the region, Ace Group is all set to launch ‘Ace Aquacasa’ in India’s smartest city ‘Greater Noida West’, Sector-16. An icon of comprehensive and exotic fine living, Aquacasa is an amalgamation of aesthetically designed exclusive 2, 3 & 4 BHK homes. Ace Group has already launched a sublime residential project ‘Ace Starlit’ at Sector 152, Noida. A luxurious offering at competitive pricing, the project boasts of all the world-class features and amenities including best-in-class clubhouse and a mega retail hub, among others. 

The twin city of Noida and Greater Noida has over the years emerged as a preferred choice for the real estate buyers due to its state-of-the-art infrastructure, fast-track connectivity through metro, expressways, flyovers and the upcoming Noida international airport at Jewar. The real estate market in this region has flourished on the back of high demand for residential and commercial properties in luxury and affordable luxury segments, besides its proximity to the key business centres in Delhi-NCR. 

Noida-Greater Noida has also witnessed massive influx of multinational companies in IT/ITes, research, consulting and manufacturing segment, which makes it an industrial and service sector hub. Especially the region bodes well for the homebuyers looking for spacious homes supported by world-class facilities, luxurious amenities, ample greenery and social infrastructure. Consequently, almost all the leading real estate developers have their projects in Noida-Greater Noida. Among them, Ace Group leads the pack and it has earned a reputation for presenting quality projects and delivering them on time. 

Mr. Ajay Chaudhary, Chief Managing Director, Ace Group said, “Our strong brand equity and an established track record of timely delivery with transparency, has made us favourite with homebuyers while they scout for their choicest homes in Noida-Greater Noida, the dream location for real estate purchasers. All Ace Group projects offer state-of-art designs, facilities, and amenities. Innovative construction technologies and best quality materials used by us give property buyers complete peace of mind and satisfaction in terms of international quality living standards.” 

While Ace Group provides futuristic residential spaces to homebuyers, each and every project of the company is constructed with the highest-level of expertise and professionalism. Fulfilling the dreams and aspirations of homebuyers, Ace Group has its premium residential project Ace Divino located at Sector-1, Greater Noida West, which has an in-ground commercial complex, kids play zone and a luxury club house offering the best-in-class amenities. Ace Divino offers unique features such as the Zen garden, the grand entrance lobby apart from intelligently done landscaping. The project is enjoying high demand from homebuyers and Ace Group is all set to deliver it before Diwali this year. Concurrently, Ace Group has announced that it will also deliver Ace Palm Floors in Sector 89-90, Gurgaon, besides Ace Medley Avenue and Ace Parkway located in Noida Sector 150 too before Diwali. 

Mr. Chaudhary added, “Apart from affordability, presence of vast open spaces, well-laid out infrastructure and availability of ample job opportunities in multi-national and Fortune 500 companies have raised the profile of Noida-Greater Noida as the much sought after housing destination for homebuyers. Its close connectivity to national capital and the upcoming international airport apart from Yamuna Expressway, Noida Expressway and metro network have altogether created strong market demand and high future growth possibilities of investment in these projects.” 

Ace Group has already launched Ace Starlit at Sector 152, Noida Expressway. Encompassing a total 492 units of 2-3 BHK luxury residences, every apartment at ‘Ace Starlit’ offers beautiful views inside out from its distinctive glass framework. Further, Ace Group is all set to unveil its new project Ace Aquacasa, presenting an iconic living amidst aquatic indulgences. Loaded with an incredible array of facilities and amenities located in Greater Noida West, Sector 16, Aquacasa is an icon of comprehensive and exotic fine living. It’s an amalgamation of aesthetically designed exclusive 2, 3 & 4 BHK homes offering experiential architecture, creativity and comfort. Aquacasa is closer to significant landmarks, educational institutes, health centres, world-class shopping centres and corporate hubs. 

For more than a decade, Ace Group has delivered projects covering an area of 8.5 million sq. ft. while another 22 million sq. ft. area is under various stages of construction under the umbrella of Ace and its joint ventures. Ace Group is an undisputed market leader in terms of its wide-spectrum of projects and their construction quality, state-of-the-art designs and adherence to delivery timelines. 

IISER New Campus built by renowned infrastructure developers - NKG Infrastructure Ltd.

Permanent campus of Indian institute of Science and Education Research (IISER), Berhampur (Odisha) will soon have its 1st batch of students residing in campus as Honourable Education Minister Shri Dharmendra Pradhan Ji, Inaugurated the Boys hostel building on 10th July 2022.

The Indian Institute of Science Education and Research Berhampur, established by the Ministry of Human Resource Development, Government of India is a Centre of Excellence dedicated to teaching and research in basic sciences. IISER Berhampur aims to be a University of the highest calibre devoted to both high quality teaching and state-of-the-art research. IISER plans to develop advanced teaching and research laboratories where students will have the opportunity to perform experiments as well as pursue advanced research under the mentorship of world-class faculty.

The campus has an Academic building, Auditorium, Residential quarters for teaching and non teaching staff, Hostel for students, sport facilities, commercial centre etc. The buildings are constructed to withstand high cyclonic wind speeds as the campus is in a cyclone prone area.

Central Public Works Department (CPWD) awarded the 694 Crore construction work (under Central Education ministry) to NKG Infrastructure Ltd.

NKG Infrastructure Limited, a New Delhi Based firm which has over 33 Years’ Experience in Constructions of Roads, Airport Buildings, Hospital Buildings, Educational/University Campuses, Electrification works, Flyovers, Underpasses, Sewage Treatment parks etc. 

By developing one of the larger IISER campuses in the country NKG further consolidates its position as Contributor to the country's infrastructure sector.  

https://nkginfra.com/ 

Kalpataru Launches Commercial Project, Kalpataru Summit on LBS Marg, Mulund, Mumbai

 

Mumbai, Maharashtra, India:

Kalpataru has launched Kalpataru Summit, a Grade-A commercial project in Mulund (West) in Mumbai. The project offers over 400 compact and mid-size offices, besides retail spaces with a choice of area options ranging between 450 square feet and 1000 square feet.

When complete it will be one of the tallest commercial towers in Mulund West. The project is expected to be ready for possession by June 2026.

Located on the arterial LBS Marg which connects residential neighborhoods from Ghatkopar to Thane, Kalpataru Summit offers easy access, shorter commute time and the opportunity to work near home.

The project is designed by architect Kiran Kapadia and P Landscape Architects. It comprises full glass facade tower, double height air-conditioned main lobby, 3-tier security with Radio-Frequency Identification (RFID) system and boom barriers at the checkpoints and 9 levels of car parking. Kalpataru Summit is also registered with the Indian Green Building Council for new building rating which encompasses parameters such as Sustainable Architecture and Design, Site Selection and Planning, Water Conservation, Energy Efficiency, Sustainable Building materials and resources, Indoor Environmental quality and Innovation and Development.

The project’s luxury office spaces with amenities and facilities will enable entrepreneurs and business owners move up the aspirational value chain.

Mulund (West) is transforming at an unprecedented pace. Improvement in infrastructure and connectivity with upcoming office spaces for IT, manufacturing and commercial sectors are factors driving the area’s growth. Mulund (West) also has a well-established social infrastructure comprising choice of recreational avenues, restaurants, cafes, hospitals and educational institutions.

Kalpataru has developed several properties in the commercial realty space, such as Kalpataru Square which was Asia’s first Platinum LEED Certified building for Core and Shell by US Green Building Council.

Lodha Enables High Quality Homes for Every Indian, Locks Interest Rate at 6.99 Percent

 

Homebuyers can save ~ 1.5% on the existing home loan rates while investing in the world’s finest developments

Mumbai, Maharashtra, India – Lodha, India’s no.1* real estate developer, announces to enable homes at a great interest rate of 6.99% till 2024, providing a benefit of ~1.5% on the existing home loan rates. Through this initiative, Lodha aims at insulating homebuyers, from the subsequent increase in repo rates, and the anticipated increase in home loan interest rates. The financial support provided by this initiative will enable aspiring homebuyers to own their dream abodes and have a better life.

 
Commenting on the initiative, Raunika Malhotra, President – Marketing and Corporate Communications, Lodha said, “We believe that every Indian deserves a high quality home with finest living experience. With this initiative, we strive to make their dream of having a great home possible. The ‘interest locked’ initiative will give stability to the Indian buyer for the next 24 months and cover their home loans upto 1.5%. The last two years saw a dip in rates, with this initiative we aim at ensuring continued lowest rates in about over a decade for the discerning home-buyers. We want to enable a more fulfilled life for Indians despite the dynamic landscape, and build on our promise of building a better life by doing greater good.”
 
“Moreover, as a major contributor to the country’s GDP and wealth-generating asset for citizens, the real estate sector plays a pivotal role in overall economic growth. RBI today increased limits on individual housing loans, which is a testimony to the growing demand of homes and furthers the possibility of investing in high quality homes, being today’s consumer top priority,” added Raunika Malhotra.
 
Emphasizing the proposition of buying a home at the lowest interest rate, Lodha’s new initiative provides an opportunity to not only maximize gains amidst the increasing home prices but also double up the savings for end-users with the ongoing additional 1% off on stamp duty for women homebuyers.
 
Most recently, this initiative of fixing the interest rate until 2024 has been crafted after observing an increasing demand for financial support by homebuyers; thereby empowering them to own a high-quality home now and secure their future.

*By Cumulative Residential Sales for FY 2016-2022

About Lodha
 
Lodha is among the largest real estate developer in India that delivers with scale since 1980s. Core business of Lodha Group is residential real estate development with a focus on affordable and mid-income housing. The Group also has a growing industrial & logistics park business where in a short span of time, it has scaled up and made its mark with JVs already signed with marquee investors. Lodha Group has delivered more than 85 million square feet of real estate and is currently developing ~95 million square feet under its ongoing and planned portfolio. The Group has approximately 4400 acres of land beyond its ongoing and planned portfolio which will be utilized in developing further Residential, Commercial and Industrial & Logistics spaces. Thriving at building the world’s finest developments, Lodha has created several iconic landmarks across the MMR notable among which are The World Towers, LodhaAltamount, Lodha Park, Lodha New Cuffe Parade and Palava City.

Biggest Launch: Dosti Planet North - Sector 3 by Dosti Realty Who Has Transformed Shil Thane into a Lifestyle Living Destination

Mumbai, Maharashtra, India – 

•  Following the success of Dosti Planet North Phase 1, 2, 3, and 4 with 2147 homes sold till date, Dosti Realty launches Dosti Planet North - Sector 3

•  2 towers Dosti Amber and Dosti Sapphire launched offering 1, 2, and 3 BHK homes of various sizes 

Dosti Realty, a trendsetter in the real estate segment, has announced the launch of a new sector - Sector 3 at their project Dosti Planet North in Shil Thane. The Dosti Planet North development is now a famous landmark that transformed the Shil Thane skyline and continues to do so by pushing the benchmarks of lifestyle and luxury.
 
Out of the 4 towers in Dosti Planet North – Sector 3, two towers have been launched namely Dosti Amber and Dosti Sapphire offering 1 BHK, 2 BHK, and 3 BHK homes of various sizes designed to suit individual tastes across different investment preferences. This sector has been designed with 4 independent towers which will lead residents to enjoy maximum sunlight and cool breeze by way of the wind tunnel/ funnel effect on top of the podium. Further, the box shape structure ensures maximum light and ventilation. Many of the apartments also enjoy breath-taking views of an open skyline with hills in the backdrop. Keeping in line with the philosophy of Dosti Realty where the brand always pushes its existing benchmarks, the finishes used across the apartment in this new sector are more premium from flooring to tiling to even the frames used in the kitchen and bathrooms. Almost every element within the apartment is a notch higher.
 
Those who purchase in Sector 3 also have the added advantage of access to over 25 plus amenities subject to the applicable charges. Within Sector 3 there are a host of indoor and outdoor amenities. The outdoor spread across the ground and podium level includes Box Cricket, Badminton Court, Outdoor Gym, Basket Ball, Lawn Area, Outdoor Gym, Resting Plaza, Skate Wall, Hop Scotch – Play Area, Toddlers Play Area, Reflexology Path, Kid’s Play Area and Jogging Path. While the indoor recreational amenities include Fitness Centre / Gymnasium, Creche, Table Tennis, Pool Table, Carrom, and Chess. Additionally, there is also a luxurious private clubhouse - Dosti Club Royale* adjacent to the project that hosts various conveniences including an Indoor Swimming Pool and Kids Pool, Gymnasium, Multi-Purpose Room, Table Tennis, Snooker, Chess and Carom Room, Squash Court, Steam Room, Jacuzzi Room and Multipurpose Sports Court with the backdrop of a refreshing environment.
 
Dosti Planet North – Phase 3 also has a host of green features for sustainable living. Some of them include rainwater harvesting, a sewage treatment plant, solar panels for hot water, energy-efficient lights in common areas, water-efficient fixtures, use of recycled water for flushing and gardening, native plant species for landscaping, provision of an organic waste composter, differently-abled access ramps for entry, etc thereby contributing to a health-conscious environment.
 
Mr. Deepak Goradia – Chairman and Managing Director, Dosti Realty commenting on the launch of Dosti Planet North – Sector 3, says, “Till date, we have delivered 1180 homes in Dosti Planet North Phase 1 and currently delivering more than 967 homes in Dosti Planet North - Phase 2, 3 and 4. With this new launch of Dosti Planet North – Sector 3, we have tried to push our benchmark even further in terms of the premium finishes we have used across the apartment for flooring, tiling, etc. We want our customers to constantly experience that sense of newness and customer delight with each new purchase.”
 
True to the meaning of convenience, Dosti Planet North enjoys excellent connectivity to any part of the Mumbai Metropolitan Region. Basic infrastructure in terms of retail shops within the complex as well as easy connectivity to shopping markets, malls, banks, hospitals, etc makes it easier to avail daily requirements. The Dosti Foundation ICSE School which currently has 1000+ students is located adjacent to Dosti Planet North for which admissions are subject to rules and regulations.
 
Shil Thane has been witnessing an upsurge in the population owing to its closeness to a host of commercial/ industrial pockets via an exceptional network of roadways and railways. Dosti Planet North is close to commercial, IT/ITes, and industrial hubs such as Shil Phata, Thane Belapur Road, Airoli, Ghansoli, Vashi, Rabale, Mahape, Turbe and Taloja, etc. The under-construction Mumbai - Airoli Tunnel and proposed elevated corridor connecting the Eastern Express Highway to Navi Mumbai will be a further boon for residents in the coming years. The proposed additional two lanes for the Shil Phata to Kalyan Road will boost the area’s advantage as a strategic location.

About Dosti Realty

Dosti Realty has been in the real estate business for over 4 decades and delivered more than 127 properties to date, providing homes to over 10,000+ families. Encompassing a portfolio of having delivered over 11.44 million. sq. ft. and currently constructing around 6 mn. sq. ft. across Mumbai and Thane, the company has experience in various development types, be it Residential, Retail, IT Parks, etc. Over the years, it has been known for Aesthetics, Innovation, Quality, Timely Delivery, Trust, and Transparency, Values that have built lasting relationships.
 
Dosti Planet North - Sector 3 is registered under MahaRERA No: P51700034985 and is available on the website https://maharera.mahaonline.gov.in under registered projects. This project is financed by Kotak Mahindra Investments Limited. Please note that the sale/lease of premises in the above referred project shall be subject to and governed by the terms and conditions of Agreement for Sale/lease. *Dosti Club Royale is a Private Clubhouse. Right of admission is reserved by the Promoter. T & C Apply