March 2024 – Page 2 – Property World Global

Mar142024 by FWMNo Comments

HEBBALA POLICE STATION SHIFTED TO BHUPASANDRA ROAD

News

Bengaluru: (March 14):- Hebbal Police Station, which has been shifted to Bhupasandra Road, Hebbal, was inaugurated by the MLA of Hebbal Vidhan Sabha Constituency, Urban Development and Urban Planning Minister Mr. B.S. Suresh (Bairati) inaugurated . Bangalore City Police Commissioner B. Dayananda, Bangalore North Division Police Commissioner Saidul Adawat and many dignitaries and police officers were present

Mar112024 by FWMNo Comments

It Is Necessary To Open A Separate Department And Make A Law For People Living In Apartments: N. Santhosh Hegde

Home Improvement, Lifestyle, News

Bangalore ; A separate department needs to be opened for people living in apartments to handle their movements in a proper manner. Lokayukta Justice N said that it is appropriate to make a separate law for apartment dwellers. Santhosh Hegde said. Inaugurating a seminar on "You must know the law of residential complexes" held at the city's St. Joseph Law College, he said that the responsibility of redressing the demands and grievances of the apartment owners should be removed. Lokayukta retired Justice N. Santosh Hegde said that he has no other property except a small apartment. The welfare of the occupants of the housing complex is paramount. Human beings are social beings. We need to learn to understand and live with everyone. It is appropriate to submit a request to the government to...

Mar72024 by FWMNo Comments

Britannia Marie Gold extends its commitment to empower women entrepreneurs with HerStore

Home Improvement, Lifestyle, News

HerStore is a unique digital ecosystem to fuel women led businesses in India India, 07 March 2024: Britannia Marie Gold, one of India’s leading biscuit brands today launched HerStore, a unique digital ecosystem for women entrepreneurs. HerStore is designed to give a platform to all womenpreneurs in India for constant support in their journey. The tagline "Saath Judo, Saath Udo'' captures the essence of the brand’s commitment to cultivating a supportive digital ecosystem where women entrepreneurs stand united, uplift each other, so that they can do more and be more. HerStore, powered by Britannia Marie Gold has taken the initiative towards its commitment with the launch of a unique marketplace which lists both products and services - all owned by women. The platform will also soon o...

Mar72024 by FWMNo Comments

Leasing to cross 50 msf in 2024 yet again, a ‘new normal’ for India office

Business & Finance, News

India office holds upside potential to scale up to 60 msf in 2024 Domestic enterprises to account for over half of the office demand during 2024 GCCs to gain further ground accounting for over 40% of the total demand BFSI and Engg & Mftg. to drive demand for Grade A office spaces Flex spaces are likely to drive about 15-20% of the overall leasing in 2024 Large-sized deals of 100,000 sq ft or more, projected to account for 50-55% of 2024 leasing activity About 30-35% of Grade A office demand is likely to come from PBDs in 2024 Gurgaon, India, 05 March 2024: With consecutive all-time leasing highs in 2022 and 2023, India's office sector has proven its resilience, and showcased consistent growth amidst global challenges. India's office market is set to consolidate ...

Mar72024 by FWMNo Comments

Stans Buildtech Group secures INR 160 crores from SWAMIH Fund to revive stalled SRA project, Sky Annex, in Mumbai

Business & Finance, News

Mumbai, India, 07 March 2024: Leading real estate consulting firm, Colliers India, recently assisted Stans Buildtech Homes Pvt. Ltd. in securing financing of Rs. 160 crores from SWAMIH Fund, managed by SBICAP Ventures Limited, for its SRA project. Sky Annex, located in Chembur, Mumbai, was taken over by Stans Buildtech in 2016 and has been under development since. A legacy of issues involving tenants, flat buyers, approvals, and lack of suitable financing to meet requirements led to the project being stalled, and is now set to resume, following the deal. “This deal exemplifies SWAMIH Fund's commitment to understanding and resolving complex real estate situations. By providing solution capital, we are not only unlocking value for various stakeholders but also fulfilling our objective of ...

Mar72024 by FWMNo Comments

Ajmera Realty inks INR 500 Cr of structured deal for Ajmera Manhattan, partly prepays GCP loan

Business & Finance, News

March 6th, 2024, Mumbai: Ajmera Realty & Infra India Ltd has successfully secured credit facilities totaling INR 500 Crores from two leading financial institutions: Standard Chartered Bank and ICICI Bank. These funds will be utilized for the execution of Ajmera Manhattan, a luxurious residential project situated in Wadala, Mumbai. Additionally, a portion of the funds amounting to INR 200 crores has been utilized towards the partial prepayment of the GCP loan availed from HDFC Bank. The Ajmera Manhattan project has experienced robust booking activity, with over 60% of inventory already sold as of December 2023 and is also endeavored to be certified as a green building. The demand for the project remains strong, driven by the exponential growth in housing demand along the Sewri-Wadala...

Mar72024 by FWMNo Comments

Bangalore records residential registrations of Rs 14,436 Crores in Q4 2023. Prestige leads in transactions while L&T Realty tops in volume.

Business & Finance

Bangalore, 6th March 2024: Bangalore’s residential market sustains impressive growth in Q4 2023, recording 17730 transactions amounting to Rs 14,436 crores, as per Square Yards Data Intelligence for property registered by Inspector General of Registration (IGR), Karnataka. Bangalore-based Prestige Group reigned supreme in terms of units registered in this quarter, with 276 units, followed by Sobha Group at 218 transactions. In terms of sale value, L&T Realty emerged as a top contender, collecting Rs 1004 crores from the proceeds. Phoenix Mills claimed the second spot, capitalizing on the burgeoning demand for mid-segment and luxury homes, with Rs 307 crores worth of sales. Godrej Properties, Embassy Group, and Birla Estates were other developers who had a great run in the October-De...

Mar72024 by FWMNo Comments

Apartment Complex With Only Residential Flats To Be Registered Under Apartment Ownership Act Not Cooperative Societies Act: Karnataka HC

News

Bangalore; The Karnataka High Court has held that to manage and maintain an apartment complex consisting of only residential flats, the association of owners has to be registered under the Karnataka Apartment Ownership Act, 1972, and not under the provision of Karnataka Co-operative Societies Act, 1959. A single judge bench of Justice Anant Ramanath Hegde said “Admittedly, the project referred to above is a residential housing project. There is no commercial unit in the said project. A writ petition filed by some residential owners in the DS Max Starnest residential complex. It directed the Registrar of Co-operative Societies not to register a co-operative society to manage the housing complex. It also revoked the permission to raise share capital by members. The court directed bu...

Mar62024 by FWMNo Comments

Mahindra Group and Johnson Controls Launch Net Zero Buildings Initiative to Decarbonize Buildings in India

Home Improvement, Lifestyle, News

New Delhi, India: Wednesday, March 6, 2024 9:31PM IST (4:01PM GMT Strategic climate advocacy initiative will provide organizations, building owners and facility managers with information and resources to create sustainable spaces. Initiative to accelerate deployment of smart and sustainable buildings and support India’s Net Zero goals. Being launched with a toolkit document and will continue to be rolled out over the course of a year from March 2024 using virtual and in-person workshops. As India ramps up efforts to decarbonize its rapidly growing infrastructure of buildings, the Mahindra Group, one of India’s leading industrial enterprises, and Johnson Controls (NYSE: JCI), the global leader in smart, healthy and sustainable buildings, today announced a first of its kind Net...

Mar62024 by FWMNo Comments

Farmers from all over the state are expected to converge at the Mela, which will take place at the GKVK premises on March 9 2023 • Kusum B Scheme – Karnataka Government Prioritizes Solar Pumpset Utilization

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Raita Soura Shakti Mela' Set to Empower Karnataka Farmers with Solar Energy Solutions Farmers from all over the state are expected to converge at the Mela, which will take place at the GKVK premises on March 9 2023 • Kusum B Scheme - Karnataka Government Prioritizes Solar Pumpset Utilization Bengaluru, March 6, 2024—The Department of Energy, Government of Karnataka, is organizing the 'Raita Soura Shakti Mela' on March 9, 2024, at the esteemed premises of GKVK in Bengaluru. This groundbreaking event aims to diminish the reliability of conventional electricity for irrigation and promote self-sufficiency among farmers through the adoption of solar energy solutions. Key Highlights of the Mela • Distinguished by its informative sessions and interactive exhibits, the 'Raita Soura Sha...