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Avani Infratech lines up Rs 750 crore for real estate expansion in FY27
Avani Infratech will invest Rs 750 crore in three new projects by FY27. The company is launching residential and commercial developments in Sonipat and Sohna. An industrial township is also planned for Sonipat. This expansion targets Tier 2 and Tier 3 markets, recognising their growth potential. Avani Infratech aims to strengthen its presence in key growth corridors.
Arnya invests over Rs 1K crore in housing projects
Many of the projects are at advanced stages of approvals and execution, while some have already commenced sales in key residential markets including Bengaluru. The investments have been routed through Arnya Real Estate Fund-Debt, the firm's category II alternative investment fund registered with the Securities and Exchange Board of India, along with direct investments undertaken by the firm.
Tamil Nadu signs Rs 18,600 crore MoU with Larsen & Toubro for data centre, shipbuilding projects
Tamil Nadu Chief Minister V Joseph Vijay witnessed a significant MoU signing. Larsen & Toubro Limited will invest Rs 18,600 crore in three major projects. These projects will boost data centres, electronics manufacturing, and shipbuilding. Around 8,200 jobs will be created. This marks a key step towards Tamil Nadu's economic growth and industrial development.
Tamil Nadu CM Vijay Signs MoU Worth Rs 18,600 Crore With Larsen & Toubro For Three Projects
The signing ceremony took place at the office of the Chief Minister in Chennai.
Signature Global commits Rs 1,200-1,500 crore for land acquisitions in FY27
Signature Global will spend Rs 1,200-1,500 crore on land acquisitions this fiscal year. This is double its previous spending. The real estate market slowdown has made land prices more attractive. The company aims to acquire large land parcels for integrated township projects. It is also looking for land in Delhi. Signature Global expects pre-sales of Rs 10,000 crore in FY27.
Monsoon Delayed: IMD Projects Kerala Onset In 2-3 Days; Sees Pre-Season Rains In Maharashtra This Week
Very heavy rainfall is forecast over Kerala and Mahe between June 3 and June 7, while isolated heavy rainfall is expected over Tamil Nadu, Karnataka, Andhra Pradesh and Lakshadweep.
Puravankara Bengaluru housing project: Realty firm signs joint development agreement for Rs 1,100 Crore at Doddagubbi
Realty firm Puravankara Ltd has entered into an agreement with a landowner to develop a large housing project in Bengaluru. The project, spread across 11 acres, is expected to generate revenue of Rs 1,100 crore. This development signifies a significant expansion for the company in the Bengaluru real estate market. Puravankara has a substantial land bank and ongoing projects across multiple cities.
India insurers seek doubling of tax-free limit for some products to boost inflows, sources say
Indian life insurers are asking the government to double the tax-free limit for insurance policies. This move aims to increase money flowing into these funds. Inflows have slowed down since new tax limits were introduced in February 2023. Higher inflows would support government borrowing needs for long-term projects. The Life Insurance Council has formally requested this change.
Supreme Court seeks govt, RBI response to plea for audit of banks' realty exposure
The Supreme Court has asked the government and the Reserve Bank of India for their response to a petition that wants banks' dealings with real estate projects to be reviewed. The court also wants an investigation into developers accused of misusing homebuyers' money. Several authorities and builders have been issued notices.
Supreme Court seeks govt, RBI response to plea for audit of banks' realty exposure
The Supreme Court has asked the government and the Reserve Bank of India for their response to a petition that wants banks' dealings with real estate projects to be reviewed. The court also wants an investigation into developers accused of misusing homebuyers' money. Several authorities and builders have been issued notices.
SC seeks Centre, ED responses on plea alleging Rs 14,000 crore diversion in Noida, Yamuna Expressway housing projects
The Supreme Court has issued notices to the Centre, Enforcement Directorate, RBI, Uttar Pradesh authorities, and several real estate firms. This follows a plea alleging diversion of thousands of crores collected from homebuyers in Noida and Yamuna Expressway projects. Advocate Prashant Bhushan highlighted a pattern of developers diverting funds and pushing projects into insolvency.
India’s office market faces widening funding gap as deployable capital trails demand
India's commercial real estate sector sees strong demand but faces a capital shortage for new projects. Available funds can only support a fraction of future office and warehousing needs. This gap presents a significant opportunity for investors. Experts suggest increased participation from domestic pension funds and insurers, along with simplified foreign investor taxation, can boost capital flows.