Launch of La Vie, the Newest Cluster at Rustomjee Uptown Urbania, Thane

Mumbai, Maharashtra, India –

Having been established as the most sought-after township in Thane, Rustomjee Group, together with Keppel, is pleased to announce the launch of La Vie, a brand-new cluster at Rustomjee Uptown Urbania. Last year, Rustomjee Group and Keppel successfully launched La Familia, the first cluster in the integrated township.

Located in Thane West, off the Eastern Express Highway and a 10-minute drive from the Thane station, is this 100+ acre self-contained township, in proximity to business hubs in Powai and Vikhroli in Mumbai, as well as Airoli and Ghansoli in Navi Mumbai.
 
Rustomjee Uptown Urbania's new cluster, La Vie, will be spread over 8.5 acres with 8 high-rise towers that will be fringing a massive central park. The central park is one of the key highlights of this project. Inspired by Southeast Asian architecture, the central park will provide myriad amenities and recreation spaces for residents to come together. Additionally, the towers at La Vie will offer amenities at three levels, namely at the ground level, mid-level amenity floor and rooftop. They include a swimming pool, a gymnasium, a business center, a rooftop garden, a sunset deck, a yoga deck, a sky pool, and jacuzzi pods, Olympic size swimming pool, skating rink, sports courts, kids’ pools, aqua zone & much more. Based on the brand philosophy of Rustomjee of creating spaces that bring people together and form happy communities, La Vie has been designed focused on that aspect.
 
The first phase of the launch will offer one 55-storey tower with spacious 2-bedroom homes. Some exclusive homes in the tower come with a unique feature called the “POD”, which is an additional space provided, that can also double up as home office or a space for meditation or worship – the possibilities are endless.
 
Mr Boman R Irani, Chairman & Managing Director, Rustomjee Group, said, “We are constantly in search of newer and innovative ways to bring value to our customers and are thrilled about the launch of our brand-new cluster, La Vie, at Rustomjee Uptown Urbania. It will have everything the city has ever experienced. This new and exciting well-designed residential development, with well-planned homes and abundance of open green spaces will undoubtedly strike the interest of both current residents and prospective buyers and investors from other sections of the city.”
 
Mr Ho Kiam Kheong, President (India) of Keppel’s Real Estate Division, said, “We are pleased to take Rustomjee Uptown Urbania to the next stage with the launch of La Vie, following the successful launch of La Familia. With Keppel’s global expertise and strong capabilities in providing sustainable, innovative urban space solutions, together with Rustomjee’s deep understanding of the market and our customers’ needs, we are confident that La Vie will be yet another quality development that is well sought-after. This is not just another project, it is a vibrant community in the making.”

About Rustomjee Urbania

Rustomjee Urbania is already a home to 4000+ families, making this township one of the most sought-after living experiences offered in Thane. Offering access to retail stores, Rustomjee Cambridge International School and amenities such as Festival Plaza, Urban Farming zone, one of the largest podiums in the city, breathtaking view decks along with state of art swimming pools, Rustomjee Urbania has set new standards for the overall township experience. With an already delivered township in the area & upcoming new cluster launch, Rustomjee Group is bullish on the scope of the area.

About Keppel

Keppel Corporation is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Through its quality investment platforms and asset portfolios, Keppel contributes to advancing sustainable development, the energy transition and the digital economy, while creating enduring value for stakeholders.

Puravankara Achieves Highest-Ever Annual and Quarterly Sales, Records Rs. 3,107 Cr Sale Value for FY23

Bengaluru, Karnataka, India – 

Real estate major Puravankara Limited (BSE: 532891) on Wednesday announced that it has achieved the highest ever annual and quarterly sales of any financial year since inception by clocking Rs. 1,007 Crore in sale value in Q4 and a total of Rs. 3,107 Crore for FY23.
 
Commenting on the operational performance, Mr. Ashish Puravankara, Managing Director said, "We have achieved the highest ever annual and quarterly sales of any financial year since inception, with Q4 sales of Rs. 1,007 crores and FY23 sales at a record high of Rs. 3,107 crores. The Company has consistently experienced growth during FY23, indicating our sustained efforts towards gaining market share. Despite maintaining a strong pace of sales growth, our unwavering commitment to execution, prompt delivery, and customer satisfaction remain at the forefront of our priorities. We expect our pre-sales growth momentum to continue, driven by a healthy pipeline of new launches of 14 million sqft in coming quarters.”
 
Real estate is expected to contribute a larger share of India’s GDP and expand its market size in the coming years. The continued strong momentum and high demand are positive indicators for the real estate market which indicates that there is a healthy balance between supply and demand, with more buyers than available properties. The unchanged repo rates will further support the existing growth momentum. In this consolidation phase, the company expects to potentially gain market share.
 
Key Sales highlights (on a consolidated basis)

•  Achieved the highest ever sale value of Rs. 3,107 Crore for FY23, the highest in any financial year since inception. A sizeable increase of 29% compared to Rs. 2,407 Crores in FY22.

•  This impressive increase in sales is accompanied by an equally impressive increase in customer collections from the real estate business; which increased to Rs. 2,258 Crore in FY23 in comparison to the customer collection of Rs. 1,440 Crore in FY22. This implies a whopping jump of 57%.

•  Average price realization increased by 14% to Rs. 7,768/sft during FY23 from 6,838/sft in FY22.

•  Achieved highest ever sale value of Rs. 1,007 Crore for the fourth quarter of any financial year since inception. Up by 21% compared to Rs. 831 Crore in Q4FY22.

New project launches in FY23

Sl.No	Quarter	Project Name	City	Saleable Area (msft)
1	Q1 FY23	Zentech Business Park	Bengaluru	0.76
2	Q2 FY23	Purva Meraki	Bengaluru	0.12
3	Q2 FY23	Purva Park Hill	Bengaluru	0.83
4	Q2 FY23	Purva Celestial	Bengaluru	0.48
5	Q3 FY23	Purva Hibiscus	Coimbatore	0.13
6	Q3 FY23	Purva Lakevista	Chennai	2.16
7	Q3 FY23	Purva Orient Grand	Bengaluru	0.25
8	Q4 FY23	Purva Blubelle	Bengaluru	0.57
9	Q4 FY23	Purva Oakshire	Bengaluru	0.74
Total				6.04

Quarterly Performance Summary:

 

Based on bookings	Q4FY23	Q4FY22	YOY
Volumes (in msft)	1.21	1.19	2%
Value (in Rs Crore)	1,007	831	21%
Realization (in Rs/ sft)	8,321	6,981	19%

 

Based on bookings	Q4FY23	Q3FY23	QOQ
Volumes (in msft)	1.21	1.02	18%
Value (in Rs Crore)	1,007	796	27%
Realization (in Rs/ sft)	8,312	7,767	7%

Yearly Performance Summary:

 

Based on bookings	FY23	FY22	YOY
Volumes (in msft)	4.00	3.52	14%
Value (in Rs Crore)	3,107	2,407	29%
Realization (in Rs/ sft)	7,768	6,838	14%

Project T: Here’s How It May Be One of the Indian Residential Market’s Most Innovatively Powerful Projects Yet

Siddharth Vihar/Delhi-NCR: Innovation has been trending decisively in favor of homebuyers in the Indian residential market lately. Be it wellness tech or home automation, the convenience of homebuyers has never been taken more seriously. So many residential projects these days go beyond the age-old talk of basic amenities and common residential features – which are at this point only obvious to homebuyers – to aptly address the needs of their ever-evolving clientele. At the same time, modern homebuyers also look for major innovation factors in residential projects these days which could make their lifestyle easier, grander, and take it a notch higher in terms of modern efficiency, which is a dramatic shift in comparison to when basic amenities were treated as the USPs of such projects. Taking note of this very appetite for innovation in the market, T&T Group recently introduced Project T, a one-of-a-kind, futuristic residential project, made to bring to life a future that is efficient, convenient, and gives homeowners unthinkable control over their lifestyle.

What exactly is Project T?

The inception of Project T was inspired mainly by T&T Group’s ambition to take its most significant step in the direction of building highly futuristic living spaces in the country, which has been the Group’s vision ever since its inception. The core idea behind the project is that of Concept Housing, a concept developed by T&T Group that imagines the make, feel, and most importantly, convenience of homes in the near future. The project aims to achieve this futuristic vision by mainly focusing on reimagining the general physical attributes of housing, including design language, infrastructure, and specifications as well as introducing residential services to the Indian housing scenario for unprecedented convenience and to define opulence and luxury purely through experience and comfort for the first time. More importantly, since the project is essentially styled to be a prototype, it features only 52 limited-edition concept homes, which are available for purchase mainly to the premium segment of buyers of the housing market.

What makes it unlike anything else before?

Revolutionary architecture and futuristic design elements are at the core of Project T’s Concept Housing. Taking inspiration from fields like Spatial Design, Project T puts a major focus on space optimization, privacy, comfort, aesthetics, and even the most minute aspects of home design to significantly enhance the end-user experience. From the all-glass main façade of the building with a majestic gold finish to much smaller elements like totally switchless switchboards, everything has been futuristically reimagined in the project.

What’s important to note is that the project does not merely deliver bits and bobs of incoherently stacked upmarket features here and there but makes sure that the ultimate experience for the potential homeowners is truly seamless and consistent in every way, which is why, apart from its aesthetic appeal, the project is very much utilitarian in nature. Take for example the Twin Kitchen at the project. It ensures the utmost convenience with its designated wet and dry zones designed for specific use. While the wet zone makes cooking and cleaning more efficient, the dry zone is specifically meant for service purposes, minimizing the hassle of cooking and serving simultaneously in the same space. And that was just one example of how detailed and thorough the project is in its approach. As for space optimization, which is among the many futuristic approaches of Project T, the project boasts 3-side open apartments, a double-height living area, opulently private elevators, and only 2 apartments per floor, showing its special attention to privacy and exclusivity of its residents.

However, what makes Project T truly matchless in terms of innovation and creativity is its residential services, which are at the center of its idea of Concept Housing. These services will include valet parking, house service, a concierge desk, a private chef, and even a babysitter, to name a few. By introducing residential conveniences at this unprecedented scale, not only Project T aims to transform how opulence will be defined in living spaces in the near future but also looks at extending the very definition of luxury to its more experiential and intangible aspects in the residential real estate panorama of the country.

What’s in it for homebuyers?

Well, to put it simply, Project T is going to be a win-win for homebuyers – and in unimaginable ways. There is obviously the opulence factor. But there is so much more. The project offers homebuyers unprecedented and matchless access to exclusivity, something that is extremely rare even in most premium segment residential projects these days. And on top of that, there is definitely an extraordinary amount of convenience packed into the project, which is expected to dramatically enhance the general productivity of its residents in addition to the control they have over their lifestyle.