Sunteck Realty Limited has announced a joint venture deal in Borivali west to develop a luxury residential project in Mumbai. This JV Deal in Mumbai is executed by JLL India.
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Key Details:
- Land area: 7 acres
- Development potential: 1 million sq ft
- Project value: Estimated top line of Rs 1,750 crore over 4-5 years
- Project type: Luxury residences with potential sea views
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Significance:
- Strengthens Suntec k’s presence in Mumbai’s western suburbs
- Expected to be a landmark development in the Borivali West micro-market
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Additional Information:
- JLL India acted as the exclusive transaction partner for the joint venture.
- The project will be developed under the asset light JDA model.
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Quotes:
- Kamal Khetan (Sunteck Realty): “This development shall provide an opportunity to curate a unique and world-class residential product. We shall bring in our best-in-class construction and development capabilities of luxury living.”
- Nishant Kabra (JLL India): “Mumbai’s western suburbs continue to remain one of the most dominant and active end-user residential markets in the country. Stronger brands should continue to observe aggressive sales going ahead.”
Overall, this joint venture signifies Sunteck Realty’s commitment to developing high-end residential projects in Mumbai.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Jaipur’s luxury real estate scene gets a boost as Akshat Apartment signs a new Joint Venture Deal in Bapu Nagar, Jaipur located at a very prime location Rajendra Marg.
Project Highlights:
- Developed by: Akshat Apartment (in a joint venture with Local Landowner)
- Project Name: Akshat Anugrah
- Location: Rajendra Marg, Bapu Nagar, Jaipur
- Land Area: Approx 1300 Sq.yrd
- Project Type: Luxury Residential Project
Project Features:
- Modern Living Experience: This project promises to redefine upscale living in Jaipur, offering a luxurious and contemporary living experience.
- Revenue-Sharing Joint Venture: This project is a collaborative effort between the Akshat Apartment and a local land owner with an area-sharing model.
- Premium Amenities: Residents can enjoy a range of amenities.
This new project by Akshat Apartment caters to those seeking a luxurious and amenity-filled lifestyle in Jaipur.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
IndoSpace, India’s leading industrial real estate developer, has joined forces with Model Economic Township Limited (METL), a subsidiary of Reliance Industries, to acquire 55 acres of land in Farukhnagar, Haryana. Indospace has signed 55 acre of Joint Venture deal in Farukhnagar, Haryana with METL a subsidiary of Reliance Industries.
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Project Highlights:
- Joint venture between IndoSpace and METL
- Land Area: 55 acres
- Development Potential: 1.28 million sq ft of warehousing space
- Location: Farukhnagar, Haryana (Delhi-NCR region)
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Significance:
- Expands IndoSpace’s footprint in Delhi-NCR to over 480 acres
- Caters to the growing demand for Grade A warehousing space in the region
- Targets sectors like 3PL, FMCG, and e-commerce
- Leverages METL’s expertise in developing large-scale industrial infrastructure
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Quotes:
- Rajesh Jaggi (IndoSpace): “Excited to enter a fast-growing industrial zone…This project highlights IndoSpace’s focus on supporting the growth of India’s logistics sector.”
- Shrivallabh Goyal (METL): “Happy to partner with IndoSpace…establish the primacy of METL in the industrial and logistics map of Delhi NCR.”
Overall, this joint venture strengthens IndoSpace’s presence in Delhi-NCR and contributes to the growth of the region’s logistics sector.
Additional Information:
- IndoSpace has a portfolio of over 41 million sq ft of logistics space across India.
- The company aims to achieve 120 million sq ft of modern logistics infrastructure pan-India.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Real estate giants Ambuja Neotia Group and Hiland Group have joined forces to develop a significant luxury housing project in Kolkata. Ambuja Neotia Group and Hiland Group signed a Joint Venture Deal with BATA India for 20 acres of land, The first 10 acres of land is situated along the golf course and another 10 acres is at the riverfront.
Project Highlights:
- Location: Batanagar township, Maheshtala area (20 acres)
- Project Type: Residential housing
- Estimated Area: 2 million sq ft (2 projects – riverfront and golf course)
- Number of Units: Approximately 2,000 units (2 & 3 BHK configurations)
- Project Phases:
- Golf Course project: 12 residential towers (G+13) – details finalized.
- Riverfront project: Details and specifications to be announced soon.
Market Timing and Location:
- This project capitalizes on the rising demand for affordable housing in Kolkata after the pandemic lockdowns.
- Maheshtala’s well-developed infrastructure and strategic location on the Hooghly River make it ideal for this venture.
Industry Insights:
- Harshavardhan Neotia, Chairman – Ambuja Neotia Group: This partnership presents an excellent opportunity to cater to the growing need for affordable housing in Kolkata.
- Sumit Dabriwala, Managing Director, Hiland Group: The collaboration with Ambuja Neotia Group and the completion of the Majherhat Bridge position this project for success, offering high-quality living spaces in the heart of South Kolkata.
This collaboration between Ambuja Neotia and Hiland Group signifies a timely response to Kolkata’s housing needs, providing much-needed affordable options in a well-connected location.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Wadhwa Group Exits Rs 7,500 Crore Sea-Facing Project in Mumbai. Despite initial denials, reports indicate that Wadhwa Group has ended its partnership with Hubtown (formerly Ackruti) for a luxury residential project in Prabhadevi, Mumbai. Wadhwa Group Exits 5.5 acre Joint Venture Deal in Prabhadevi, Mumbai.
Project Details:
- Project Name: 25 South
- Location: Prime sea-facing plot in Prabhadevi
- Land Area: 5.5 acres
- Planned Development: Three 50-storey towers
Reasons for Split:
- Market sources cite differences between the developers, possibly related to payments.
Resolution:
- An arbitration tribunal led by Justice (retd.) MG Gaikwad facilitated a settlement.
- Wadhwa Group will receive:
- Reimbursement of Rs 225 crore through 45,897 sq ft of space in the partially constructed Wing A South Tower (including apartments and parking).
- Claim over portions of Wing A South Tower only (not the other two planned towers).
- Hubtown will take over the entire project and complete the remaining construction.
Impact:
- This concludes a six-year partnership between the two developers.
- Wadhwa Group relinquishes interest in the majority of the project.
- Hubtown assumes full ownership and responsibility for completing the project.
Additional Information:
- Wadhwa Group had reportedly invested Rs 130 crore initially and was entitled to a 13.5% share of sales and a Rs 30 crore planning & execution fee.
- Some prominent figures had booked flats in Wing A South Tower, including Rajesh Mandawewala (Welspun Group), Rajiv Sabharwal (Tata Capital), and Sandeep Bakshi (ICICI Bank).
- Oaktree Capital Management had recently invested Rs 425 crore in the project.
This development casts doubt on the future of the remaining towers and raises questions about potential delays or changes to the project plan.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Ganga Kotecha Group has signed a new JV deal in Mahaveer Nagar, Tonk Road, Jaipur, which is one of the posh locality of Jaipur City. Ganga Kotecha Group has forayed into Mahaveer Nagar, a prestigious locality in Jaipur, Rajasthan. This will be the 1st Project of the Kotecha Group in Mahaveer Nagar, Jaipur, Rajasthan.
Project Highlights:
- Partner: Not yet Disclosed (Development Agreement)
- Location: Mahaveer Nagar, Tonk Road, Jaipur
- Estimated Size: Approximately 30 K sq. ft. (saleable area)
- Project Type: Ultra luxury Residential Project (details not yet available)
This news signifies Ganga Kotecha Group’s expansion within the Jaipur city market.
Further details regarding the project, such as specific housing options and timelines, are expected to be announced in the future.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Ambuja Neotia, Satyaa Homes Announce Major Township Project in Kolkata’s Rajarhat. Ambuja Neotia Group and Satyaa Homes have joined forces to develop a large-scale township project in Kolkata’s Rajarhat locality.
Project Highlights:
- Location: Rajarhat, Kolkata (72-acre land parcel)
- Project Type: Integrated township with villas, apartments, and plotted developments
- Development Management Partner: Ambuja Neotia Group
- Land Contributor: Satyaa Homes
- Finance Partner: HDFC Capital Advisors
- Project Timeline: 5 years
- Estimated Development Potential: Approximately 8 million sq ft (FSI 2.5)
Market Insights:
- Harshvardhan Neotia, Chairman – Ambuja Neotia Group: This project caters to the growing demand for homeownership with private green spaces, particularly relevant in the post-pandemic era.
Significance:
- This project is poised to be a significant development in Rajarhat, following the completion of Uniworld (now Candor Tech Park) nearly a decade ago.
- The collaboration between Ambuja Neotia, Satyaa Homes, and HDFC Capital Advisors signifies a strong team for project execution.
This new township project promises to offer a variety of housing options in a well-connected location, catering to the diverse needs of Kolkata’s residents.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Ashwin Sheth Group and Sethi Group ink pacts for commercial JV Deal in Nagpur for First Large-Scale Retail Destination. Ashwin Sheth Group, a leading real estate developer, has announced a joint venture in Nagpur-based Sethi Group to develop Viviana Nagpur, a one-million-square-foot shopping mall.
Project Highlights:
- Location: Upmarket southwestern region of Nagpur near Pratap Nagar.
- Project Name: Viviana Nagpur
- Size: 1 million sq. ft. (largest retail space in Nagpur)
- Investment: Rs 650 crore (including land and construction costs)
- Project Features:
- Diverse retail options
- Entertainment zone
- Food and beverage section
- Target Market: Brand-conscious shoppers in surrounding affluent areas
Strategic Significance:
- First Large-Scale Retail Development in Nagpur: Viviana Nagpur will be the city’s first major upscale shopping destination, offering a variety of retail, entertainment, and dining options.
- Prime Location: Situated in a prominent commercial area, the mall will benefit from easy access and a high-traffic location.
- Gateway for Global Brands: Viviana Nagpur aims to attract premium national and international brands, elevating the city’s retail landscape.
- Employment Opportunities: The project is expected to create significant direct and indirect job opportunities for Nagpur residents.
Quotes:
- Ashwin Sheth, Chairman, Ashwin Sheth Group:
- This project strategically expands Ashwin Sheth Group’s portfolio and replicates the success of the Viviana brand.
- The mall will be managed by experienced professionals and leverage the expertise of the Viviana brand.
- Aman Sethi, Managing Director, Sethi Group:
- Viviana Nagpur marks the first large-scale retail development in Nagpur.
- The mall aims to become a one-stop shop for global brands, catering to Nagpur’s growing and brand-aware population.
- Nagpur’s infrastructure development and economic growth make it an ideal location for a large-scale shopping centre.
Additional Notes:
- The announcement aligns with Ashwin Sheth Group’s pre-pandemic roadmap for expansion.
- The existing Viviana Mall in Thane serves as a successful model for this project.
Overall, Viviana Nagpur signifies a major development for Nagpur’s retail sector. The mall is poised to become a premier shopping destination, offering a world-class experience for residents and attracting new brands to the city.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Goa Housing Board Seeks Partner for Large-Scale Development Project. The Goa Housing Board (GHB) is seeking a reputed national or international builder for a joint venture in Goa to develop 60,700 sqm of land in North Goa. Goa Housing Board Plan to form JV Deals in Goa with Builders.
Project Highlights:
- Land Parcels: The development will encompass four areas – Colvale, Tivim, Curca, and Penha de Franca.
- Project Types: Open to both residential and commercial projects.
- Partnership Model: GHB is looking for a private developer through a joint venture or a special purpose vehicle (SPV).
Appointing a Transaction Advisor:
- GHB is inviting proposals from property consultants to act as a transaction advisor.
- Responsibilities of the advisor will include:
- Market study and analysis of Goa’s real estate sector.
- Site analysis and identification of infrastructure needs.
- Development of financial models and potential revenue streams.
- Selection of a private developer through a bidding process.
- Project management until the joint venture agreement is finalized.
Project Rationale:
- GHB aims to maximize revenue and create a self-sustaining business model for future projects.
- Existing, underutilized GHB properties might be redeveloped as part of the initiative.
- The project seeks to capitalize on Goa’s attractiveness for investors and second-home buyers.
Next Steps:
- GHB has already floated a tender to select a transaction advisor.
- The final decision on a joint venture or SPV will be made after evaluating benefits for both GHB and the chosen developer.
This project signifies Goa Housing Board’s proactive approach to unlocking the potential of their land holdings and revitalizing underutilized properties. By partnering with a reputable builder and conducting a thorough market study, they aim to generate significant revenue and contribute to Goa’s real estate growth.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
Prestige Estates and Brigade Group, leading real estate developers, have joined forces to develop a commercial project in Bengaluru.
Project Details:
- Location: Old Madras Road (OMR), Bengaluru
- Land Area: 7.5 acres (leased for 99 years)
- Project Size: 1 million sq ft
- Estimated Cost: Rs 500 crore
- Project Components: Shopping mall and a 125-key hotel
Partnership Structure:
- Prestige Group: 70% ownership stake
- Brigade Group: 30% ownership stake
Project Timeline:
- Construction to begin after obtaining the necessary approvals.
- Funding will come from a combination of equity investments and debt.
Significance:
- Despite the challenges posed by COVID-19, Prestige Group remains optimistic about India’s commercial real estate sector.
- This project strengthens both companies’ commercial portfolios in Bengaluru.
Additional Notes:
- Prestige Group recently announced a separate deal to sell office, retail, and hotel properties to Blackstone for approximately Rs 12,000 crore.
- The funds from this sale will be used for debt reduction and future expansion.
This collaboration between Prestige and Brigade signifies continued investment in Bengaluru’s commercial real estate market. The project is expected to offer a mix of retail and hospitality options upon completion.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in
