Birla Estates acquires a 10-acre land parcel in Bengaluru
Real Estate

Birla Estates acquires a 10-acre land parcel in Bengaluru

Birla Estates has announced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru. The project has a development potential of 1 million sq ft with a revenue potential of Rs 9 billion. The land parcel is located in a well-developed neighbourhood that is easily ...

Birla Estates has announced its acquisition of a 10-acre land parcel at Raja Rajeshwari Nagar, South Bengaluru. The project has a development potential of 1 million sq ft with a revenue potential of Rs 9 billion. The land parcel is located in a well-developed neighbourhood that is easily accessible from the Outer Ring Road as well as the 10-lane Bengaluru-Mysore Highway. It is one of the largest land parcels available for vertical development in the vicinity, dominated by plots and individual houses and Birla Estates plans to launch a premium residential development. This is in line with other land parcels developed by the company across the company’s key markets. Commenting on the new project, KT Jithendran, CEO, Birla Estates, said, “We are delighted to announce our fourth project in Bengaluru at Raja Rajeshwari Nagar. Being one of the largest land parcels in this location, it is a perfect fit for our vision to create LIFEDESIGNED urban premium options for residents of south Bengaluru. This outright acquisition is in line with our aggressive expansion plans across key markets of Bengaluru, MMR, Pune and NCR regions.” To date, the company has launched two projects in Bengaluru – Birla Alokya at Whitefield and Birla Tisya in Rajajinagar. The third project, announced in early 2022 is an integrated mini-township project in North Bengaluru. Both projects are expected to be launched in the next financial year.

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Real Estate

Morgan Stanley, others acquires 6.8% stake in PNB Housing for Rs 16.64 Bn

Morgan Stanley, Societe Generale and another entity on Wednesday picked up a total of 177 million, or 6.82% stake, of PNB Housing Finance through open market transactions worth Rs 16.64 billion. According to bulk deal data available on the National Stock Exchange (NSE), Morgan Stanley through its arm Morgan Stanley Asia Singapore purchased over 142 million shares or a 5.4% stake in PNB Housing in two transactions. Ghisallo Master Fund bought 17.90 lakh shares of PNB Housing while Societe Generale acquired 17.09 lakh shares of the firm, as per the data. Meanwhile, global investment firm Carlyle..

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Real Estate

Prestige Group acquires 22,135 sq m land in Mira Bhayandar

Prestige Estates Projects has acquired 22,135 sq m of land together with all rights within the jurisdiction of Mira Bhayandar Municipal Corporation, Mumbai. The acquired land will be planned for residential development spanning approximately one million sq ft of carpet area. The cost of acquisition is around Rs 2.91 billion. The company achieved a total sales of Rs 42.26 billion for Q2 FY25, bringing its first half of FY25 sales to Rs 70.52 billion. In terms of sales volumes, it recorded three million sq ft in Q2 with the half year, total reaching 5.87 million sq ft. It sold 1,356 units this q..

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Real Estate

About 22 lakh draft documents uploaded, only 5,300 e-khatas issued

Confirming that the e-khata system is floundering, data from Bruhat Bengaluru Mahanagara Palike has revealed that while 22 lakh draft e-khatas are available online, only 5,324 - or, slightly over 0.2% - final e-khatas had been issued till Friday, though the system was launched with much fanfare in early Oct. This, despite the BBMP's e-khata website receiving 54 lakh visits and 6 lakh draft e-khatas being downloaded. The data revealed that only 30,000 people have applied for e-khata, reflecting the multiple problems they are facing while applying. Those with draft e-khatas are eligible to see..

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