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Premium Segment Supply Surges 14.4% YoY: Magicbricks
The latest Magicbricks PropIndex Report reveals a significant 12.7 per cent year-on-year (YoY) growth in residential supply across 13 major markets in Q4 2024 (October-December), driven by cities like Bengaluru (56.1 per cent) and Gurugram (44.1 per cent). The luxury segment, representing 52 per cent of the total new supply, saw a notable increase from 38 per cent in Q4 2023, marking a 14.4 per cent YoY growth in premium properties. Supply of under-construction properties surged 10.97 per cent in three months with Gurugram (30.97 per cent), Kolkata (27.80 per cent), and Bengaluru (27.39 per ce..
NIT to Redevelop Sanskrutik Sankul into 13-Storey Complex
The Nagpur Improvement Trust (NIT) has unveiled plans to redevelop its Sanskrutik Sankul property on North Ambazari Road into a 13-storey mixed-use commercial and residential complex. This project will be carried out through a Public Private Partnership (PPP) model, with the contractor being the highest bidder, offering an upfront payment of Rs 1.20 billion to NIT. The construction costs are expected to total approximately Rs 3.20 billion, including the premium paid.The complex will be built on a plot of around 43,000 square feet and will feature over 1.75 lakh square feet of built-up space. T..
Ashoka Buildcon’s Arm Signs Contract for WB Road Project
Ashoka Buildcon has announced that its subsidiary, Ashoka Bowaichandi Guskara Road, has signed a concession agreement with the National Highways Authority of India (NHAI) for the development of a four-lane economic corridor in West Bengal. This project, located on NH 116A, stretches from Bowaichandi to Guskara-Katwa Road and is valued at Rs 13.91 billion. The work will be carried out under the Hybrid Annuity Mode (HAM) and is expected to be completed within 910 days, including the monsoon period.The project’s completion will involve significant improvements in infrastructure, facilitating be..
