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METROPOLY PRESALE CONTINUES TO ATTRACT to enjoy the advantages of real estate ownership, such as security
INVESTORS, FUNDS RAISED CROSS $800K and opportunities for passive income. Undoubtedly, the real estate
The crypto community often highlights the elimination of market needs transformation, and blockchain technology has
intermediaries, associated expenses and delays as a way to the potential to eliminate the entry barriers that have impeded CONSTRUCTION
disrupt different industries. Real estate, being one of the oldest progress. Blockchain is among the most discussed cryptocurrency
and most complicated industries with its bureaucratic procedures applications, and Metropoly is at the forefront of this revolution.
and paperwork, is frequently mentioned as an ideal sector for
transformation. Metropoly, an NFT project, aims to tackle the L&T-SUFIN TO HELP CREDAI-MCHI MEMBERS SOURCE
obstacles of the real estate industry by utilising digital technology. MATERIALS DIGITALLY
This article examines the operations of Metropoly and the potential L&T-SuFin has signed an MoU with the Confederation of Real
advantages for users, such as opportunities for generating passive Estate Developers’ Associations of India (CREDAI) – Maharashtra
income. The global real estate market had a value of $6.8 trillion Chamber of Housing Industry (MCHI) to create a one-stop digital
in 2021, experiencing a compounded annual growth rate (CAGR) shop for procurement pertaining to the real estate sector in
of 1.9%. This growth trend is expected to continue, making the Mumbai and the Mumbai Metropolitan Region (MMR).
industry an attractive investment opportunity. In the US, the market The new partnership will enable Credai-MCHI’s members to
was valued at $3.69 trillion in 2021, and it is projected to expand at procure building and construction materials and access related
a CAGR of 5.2% from 2022 to 2030. Presently, the house-to-income services digitally through the L&T-SuFin platform, in a convenient,
ratio in the US stands at 7.71, surpassing the ratios observed during cost-effective, and efficient manner. SN Subrahmanyan, L&T,
the 2008 housing bubble and the pre-2000 ratio of approximately said, “L&T-SuFin is the only tech-enabled B2B platform that aims
4.4. To avoid pricing out significant segments of the population to make the procurement experience of real estate developers of
from the housing market, this trend needs to be reversed. Mumbai and MMR easy and cost effective with financing options.”
In the past few decades, real estate investment has remained Boman Irani, president, Credai-MCHI said, “The initiative of
attractive, but numerous challenges have emerged. One providing best quality products to our developers will help our
significant challenge is the increasing financial and bureaucratic members an easy access to a wide range of products for
hurdles to entry, which make it challenging for individual investors construction.”

DELOITTE INKS ONE MILLION SQUARE FEET OF OFFICE HDFC CAPITAL INVESTS `1,450 CRORE IN KALPATARU
LEASE IN BANGALORE HDFC Capital has invested `1,450 crore in realty developer
Deloitte, a Big Four firm, has inked deals with Prestige Group and Kalpataru’s portfolio of projects and land parcels in one of the
Salarpuria to secure three office spaces spanning 1 million sq ft largest investment deals in the residential sector.
in a bid to bolster its operations in Bengaluru. The firm has leased The funds obtained by Kalpataru will be channeled towards
around 500,000 sq ft of office space at Prestige Tech Park on constructing residential complexes in upcoming mid-income
Outer Ring Road and over 460,000 sq ft in SalarpuriaAura and ventures as well as providing assistance to finalize ongoing
Eminence in Bengaluru. projects in the Mumbai Metropolitan Region and Pune. According
to insiders, the deal has been concluded and the disbursement of
JSPL TO COME UP WITH FIRE-RESISTANT STEEL funds has been scheduled for the designated projects, which will
Jindal Steel and Power Ltd (JSPL) announced that it would produce commence shortly. The chosen projects have a promising scope
the country’s first steel structures that are fire-resistant. for development and high visibility for sales, as mentioned by the
The company will target markets like refineries, bridges, metro sources. HDFC Capital, a subsidiary of mortgage lender HDFC Ltd,
projects, industrial structures, steel, power plants, hospitals, is India’s largest residential fund manager. Kalptaru has a presence
commercial, and residential buildings, according to a statement in nine cities and has completed 110 projects totaling more than
from JSPL. 24.1 million square feet in the residential, commercial, and retail
This will be the first time a particular steel grade is produced sectors. In India, HDFC Capital has been a leading investor in
in India. ‘In its rail mill in Chhattisgarh, JSPL has received BIS low- and middle-income housing projects. It provides long-term,
certification to produce the country’s first fire-resistant steel flexible funding for projects in these segments throughout their
structures. The structural steels of BIS 15103 grade are intended lifecycle, including early-stage funding.
to withstand temperatures of up to 600 degrees Celsius for three
hours ‘ the statement read. Currently, the grade is imported. ASHIANA HOUSING LTD EMERGES H1 BIDDER IN
According to the company, the new grade steel constructions will EAUCTION OF LAND IN MANESAR, GURUGRAM
contribute to reducing the country’s reliance on imports. Ashiana Housing Ltd has announced that Haryana State Industrial
‘The company’s license will fundamentally alter how India’s & Infrastructure Development Corporation (HSIIDC) have confirmed
infrastructure and safety standards are built. The end consumers us as the Highest Bidder (H1 Bidder), in an e-Auction organized by
would receive much-needed assurance from fire-resistant steel, them, for the allotment of 43,708 sq. mtrs. of land for residential
helping to create a safer AtmaNirbhar Bharat ‘Bimlendra Jha, MD project in Manesar (Gurugram). This land located at Naurangpur
of JSPL, remarked. Being a member of the OP Jindal Group, JSPL Road, Sector 80, Gurgaon-122004, would be utilized for the group
is a titan of the industrial world, dominating the steel, mining, and housing project and has approximate saleable area of 10.30 lakh
infrastructure industries with global investments totalling $12 billion. sq. ft.

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