DLF will invest close to Rs 1,700 crore in developing about 3.7 million sq ft of office space and a data centre in Noida. The real estate company has leased about 360,000 sq ft of space at the upcoming Noida IT Park to Singapore-based ST Telemedia Global Data Centres (STT GDC) with the option of doubling it.

Embassy Group announced a partnership with SAS Infra to develop three Grade-A office assets encompassing 14 million sq. ft., located in Hyderabad’s financial district. The construction of the three projects is likely to be completed in different phases, starting from the last quarter of 2023.

Gurgaon-based real estate developer SS Group plans to develop 4.15 million sq ft of low-rise floors, residential societies and commercial space with an investment of Rs 1,950 crore in 2022-23 said MD & CEO Ashok Jaunapuria. The company, which has delivered 17 million sq ft across 23 projects in Gurgaon so far, expects 30% year-on-year growth in revenue in 2021-22. “The projects we will launch this year and units from existing projects present a sales opportunity of Rs 3,600 crore. We are coming up with luxury floors, demand for which has gone up in Gurgaon post Covid,” said Jaunapuria. Of the upcoming projects, the company will develop 1,450 units in SS Linden Floors and SS Linden Commercial spread across 2.5 million sq ft. In addition, group housing in New Gurgaon will be developed across1.5 million sq ft and another 150,000 sq ft commercial area will be developed in Sector 49.

Haryana Chief Minister Manohar Lal Khattar said a global city will be developed in Gurugram. Gurugram CM said there is a plan to construct this Global City in Gurugram on around 1,000 acres of land. In Global City, the planning of big and small plots will be done so that entrepreneurs can come forward for investment. Work is underway on several projects to relieve Gurugram from traffic jams. Many of these projects would be completed this year, he added. Giving examples, the Chief Minister said that the work of flyover being constructed at a cost of Rs 47 crore at Lieutenant Atul Kataria Chowk would be completed by June 30 and the work of improvement of Rao Mahaveer Chowk being done at a cost of about Rs 25.5 crore would also be completed by the end of July. Similarly, work is going on at a war footing at Captain Umang Bhardwaj Chowk to be constructed at a cost of about Rs 80 crore.

The Real estate developer plans to launch projects spanning about 25 million sq ft across Bengaluru, Chennai and Hyderabad, at an investment of Rs 8,600 crore, in the current fiscal.

The project with a choice of area options ranging between 450 sq ft and 1,000 sq ft, will be ready for possession by June 2026. Real estate major Kalpataru said that it will develop a commercial project spread across an area of 6 lakh sq ft in Mumbai. The investment to develop the project was not disclosed by the firm. The company has launched Kalpataru Summit, a Grade-A commercial project on Lal Bahadur Shastri Marg, in Mulund in Mumbai. Spread over a 6 lakh square feet area, Kalpataru Summit offers compact and mid-size offices besides retail spaces. The project with a choice of area options ranging between 450 sq ft and 1,000 sq ft, will be ready for possession by June 2026. “Located on the arterial LBS Marg which connects residential neighborhoods from Ghatkopar to Thane, Kalpataru Summit offers easy access, shorter commute times, and the opportunity to work near home.

Lodha Group, listed as Macrotech Developers, has entered into a transaction with Encube Ethicals, an integrated pharmaceutical company dedicated to topical products, to develop a research and development center spread over around 1 lakh sq ft at Palava near Mumbai. The project is part of the Lodha Lifesciences Hub, which is spread across 25 acres and is Mumbai’s first systematically developed life sciences cluster. “Lodha Lifesciences Hub at Palava provides a unique value proposition for life sciences R&D centres – high quality development, 100% compliance, streamlined approval process and talent friendly ecosystem,” said Mehul Shah, MD, Encube Ethicals. Palava Industrial and Logistics Parks recently also inked a deal with Aptar Pharma, a US based global manufacturer of consumer dispensing packaging and drug delivery devices. Expected to be completed by 2023, the project will entail the development of Encube Ethicals’ R&D Centre of Excellence, the developer said in a release. The project will be carried out in two phases, with the first phase being delivered by next year. Encube Ethicals plans to house 250 R&D-related jobs in the first building itself. Despite the presence of the majority of Indian life sciences companies’ headquarters in Mumbai, the desired R&D ecosystem has not been developed yet in Mumbai Metropolitan Region (MMR), given the lack of quality and compliant spaces, and infrastructure.

Realty firm Godrej Properties Ltd will develop a new housing project at Kandivali East in Mumbai with an estimated sales revenue of Rs 1,000 crore. In a regulatory filing, Godrej Properties said it has extended an existing arrangements with Shivam Realty to develop a residential group housing project, off Akurli crossroad at Hanuman Nagar, Kandivali East. "The new project will have an estimated booking value potential of approximately INR 1,000 crore," Godrej Properties said. This project is an extension of Godrej Tranquil and Godrej Nest, and will offer about 7 Lakh square feet of saleable area. Kandivali is a developed micro-market and extending our existing projects in the location fits well with our strategy of deepening our presence in key micro markets across India.

Real estate developer is planning to set up a property investment and development fund worth $75 million or over Rs 570 crore. The company has formed a new platform Mt. K. Kapital to undertake its foray into fund business.