Tuesday, June 15, 2021

Table of Contents for Ticker Tape


GMR Group launches Aero City spread over 1,500 acres around Hyderabad Airport

The GMR Group announced the launch of GMR Aero City in Hyderabad, spread over 1,500 acres in the city’s suburbs in Shamshabad. The Aero City, with the Hyderabad international airport at its core, will include various establishments like Business Park, Retail Park, Aerospace and Industrial Park, Logistics Park, rental accommodations, hospitality, schools, healthcare, leisure and entertainment facilities.

A lifestyle destination retail project ‘GMR Interchange’ is also envisaged at the GMR AeroCity Hyderabad campus. Various entertainment avenues are under proposal including a cinema and a family entertainment centre as part of the project. A hospitality district is also being planned to cater to the multitude of demands coming from various users of the Aero City.

GMR Business Park housed in GMR Aero City Hyderabad will offer varied office real-estate solutions like ready to move-in Grade-A offices and Built-to-Suit campuses for industries working in various sectors. It will have one million square feet leasable area, spread over four towers of which Tower 1 is already fully occupied and Tower 2 is ready for occupancy. It will also have a dedicated power link-up with the state grid for reliable power supply, round the clock three-tier security system comprising of RAXA, state police and CISF and an express connectivity with the city. The Aero City will be well-connected with important business locations of Hyderabad with an eight-lane express way and an elevated corridor and that the airport will be connected with the city by Metro Rail.




Metro Corridors let to 15-20% rise in land prices in cities

Metro corridors led to a 15-20% rise in land prices, within 500 metres of such facilities, as per a report from JLL. A fall in cost of commute and improved job opportunities led to a 20-25% increase in commercial property prices, the report added. Over the past two decades, metro rail transport has seen tremendous growth covering a total of 760.62 km across the country, with another 578.34 km under construction. Cities including Kochi, Chennai, Bengaluru, Nagpur and Nashik have seen significant expansion of new metro lines. Many pockets of Chennai witnessed an increase in land prices closer to metro stations by 15-35%. The micro-market in Bengaluru of CBD along with few SBD locations like Indiranagar, CMH Road, Jayanagar, Malleswaram, Yeshwanthpur, Rajajinagar, etc. saw rates rise 8-10% as soon as the east-west and north-south corridors opened for public use.

Depending upon the location, land use, and micro market’s overall use, the value of properties are expected to go up 10-15% from current values with the launch of a metro corridor.

The deployment of the metro corridor directly impacts real estate sector as it increases land value, land use change and densification alongside the metro corridor. Also, mass transit systems such as metros and monorails significantly contribute towards solving traffic problems. Thus, projects which are planned around the vicinity witness an increased urban real estate value, since consumers are willing to pay more for convenience.




Godrej Properties sells 275 flats for Rs.475 cr within one day at new housing project in Noida

Godrej Properties has sold over 275 residences worth Rs.475 cr within one day at the launch of its project, Godrej Woods, in Noida making this one of the most successful residential launches in NCR.

Godrej Woods offers homes set amidst a lush green development with over 600 trees. The project offers several lifestyle amenities such as infinity-edge pools, a café, a forest trail, and an elevated walkway. Sector 43 has excellent connectivity due to its proximity to the Dadri Main Road in Central Noida in addition to the access to high-quality social infrastructure. Notably, the company entered the NCR Market in 2010 and has so far added 17 projects across 5 cities with 6 projects having already been delivered.




Maharashtra government to reinstate 5% stamp duty on property registrations

The Maharashtra government decided not to extend the two per cent stamp duty waiver on property registrations from April. It would reinstate its earlier system of five per cent stamp duty on property registrations.

The state government had slashed the stamp duty charges to two per cent between August and December last year to boost the real estate market, which was facing a slowdown due to COVID-19 and the subsequent lockdown. It was made three per cent between January 1 and March 31. Stamp duty is one of the three biggest revenue contributors for the state government. Deputy Chief Minister Ajit Pawar had offered one per cent extra relaxation in stamp duty if the property is purchased in the name of a woman. While issuing the order, state finance department had stated that once the property is purchased in the name of woman, she cannot sell it for the next 15 years. If she sells it, then one per cent of the waived amount along with heavy fine will be collected from her. It means, if a woman buys an immovable property, she will have to pay four per cent stamp duty. However, for the purchase of the same property, a man will have to pay five per cent stamp duty from April 1 onwards.




Sunteck Realty Ltd enters JDA to develop 7 acres of waterfront residences at Borivali West

Sunteck Realty Limited, a premium property developer in Mumbai has secured a marquee 7 acre land parcel at Borivali (West). Sunteck Realty Limited would develop a luxury residential project in the upmarket residential locality. JLL India was the exclusive transaction partner for the JV.

Acquired under the asset light JDA model the residential project in the western suburbs of the city is spread across 7 acres and will have approximately 1 mn sq. ft of development potential. It is expected to generate a project top line of around INR 1,750 crore over the next 4-5 years further strengthening the cash flow and the balance sheet of the company. The project is likely to offer unobstructed views of the mangroves of Borivali and Gorai right up till the Global Vipassana Pagoda and beyond.

Borivali West - located in the western suburb of Mumbai has transformed into an excellent residential destination owing to good road/rail connectivity and social infrastructure. Beyond this, the upcoming metro line 2A connects Dahisar to DN Nagar and further to other parts of the city via multiple lines. The metro development along with the Coastal Road Project will transform this micro-market and solidify the city’s western suburbs as a much more attractive residential and commercial destination due to significantly reduced travel time.




Patna Smart City ropes in Rodic Consultants to develop, manage project

Patna smart city project has appointed a pan-India infrastructure consultancy firm Rodic Consultants as a project management consultant to design, develop, manage and implement smart city projects in Patna under the Smart City Mission (SCM) by the Government of India. The project being executed by Patna Smart City with a budget of Rs.2,776.16 crore, is expected to get commissioned by May 2022. Patna Smart City is a joint venture between Patna Municipal Corporation (PMC) And Urban Development & Housing Department, Government of Bihar.

As a part of the project, Rodic Consultants will be responsible for the design development, bid process management, and construction supervision in the pursuit of creating a more liveable and sustainable Patna.

The two-pronged development will take place over the area of 817.35 acres across Patna, with a focus on robust and resilient infrastructure, city decongestion, recreationally rejuvenating city, enhancement of economic & financial base, socially inclusive, aware & alert society and unique city identity.




NBCC IndIa Ltd inks MoU with NIT Patna

NBCC (India) Limited has executed a MoU with National Institute of Technology, Patna for supervision of construction & development of Institute Campus, Hostel and Residential Buildings, etc. at NIT Patna (Bihta Campus). NBCC is the Project Management Consultant for this project of value Rs.468 crore (approx).




Prestige Estates Projects Limited acquires stake in companies having land bank in North Bangalore

Prestige Estates Projects Limited has acquired 45% stake in  Century Megacity and 55% stake in Century Landmark. Century Megacity is a partnership firm holding land parcels in North Bangalore, which will be developed as office space in the near future. Century Landmark is a partnership firm holding land parcels in North Bangalore, which will be developed as office space in the near future.




NBCC India Limited bags work for 2 projects

NBCC (India) Limited has awarded work as mentioned hereunder:

  • Earth work, PCC, RCC Raft foundation & Civil Package (Excluding PCC of Raft FDN) for Superstructure including RCC Shell, Platforms, Painting & other Misc. works for Construction of Cooling Tower (NDCT) CT-1 for Yadadri Thermal Power Station, (5x800 MW), TSGENCO, Veerlapalem Village, Damarcherla (Mandal), Nalgonda (Dist.), Telangana State, Client /Owner: BHEL/TSGENCO -Package A for a total contract value of Rs.45,26,68,123.00 to M/s Backbone Construction Pvt Ltd - Sangeeta Engineering & Contracts Pvt Ltd (JV).
  • Earth work, PCC, RCC Raft foundation & Civil Package (Excluding PCC of Raft FDN) for Superstructure including RCC Shell, Platforms, Painting & other Misc. works for Construction of Cooling Tower (NDCT) CT-3 & 5 for Yadadri Thermal Power - Station, (5x800 MW), TSGENCO, Veerlapalem Village, Damarcherla (Mandal), Nalgonda (Dist.), Telangana State, Client /Owner: BHEL/TSGENCO- Package B for a total contract value of Rs.98,74,59,324.00 to M/s Hayagrev Civil Engineering Private Limited.




Gulshan Group to invest Rs.258 crore in first commercial project in Noida

NCR-based real estate firm Gulshan Group is planning to invest Rs.258 crore on its first commercial project in Noida.

Located in Sector 129 along the Noida Expressway, Gulshan One29, is expected to be delivered by July 2021. The total area of the commercial project is 4.75 lakh sq ft.

The project is being developed with an investment of approximately Rs.258 crore. It will include an amphitheater and a six-screen multiplex theatre for a cinematic experience.

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