{"id":1250,"date":"2024-02-26T11:44:55","date_gmt":"2024-02-26T11:44:55","guid":{"rendered":"https:\/\/simplease.in\/blog\/?p=1250"},"modified":"2025-10-07T15:07:24","modified_gmt":"2025-10-07T09:37:24","slug":"news-tracker-february-25-2024","status":"publish","type":"post","link":"https:\/\/simplease.in\/blog\/?p=1250","title":{"rendered":"News tracker: February 25, 2024"},"content":{"rendered":"\r\n\r\n\r\n\r\n\r\n\r\n\r\n<p><strong>SRK\u2019s daughter Suhana Khan buys 78,000 sq ft plot in Alibaug for \u20b99.50 cr<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Agreement signed with the seller Nozer Rusi Wadia for a 0.73-hectare plot with the built structures, and open land in Thal<\/li>\r\n\r\n\r\n\r\n<li>Plot is located 13 km from the Mandwa jetty on the Alibaug-Revas Road<\/li>\r\n\r\n\r\n\r\n<li>Earlier in June 1, 2023, Suhana purchased 1.5-acre agricultural land along with 2,218 sq ft of structures on the plot for \u20b912.91 cr<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<p><strong>Cricketer Yashasvi Jaiswal buys \u20b9 5.4 cr flat in Mumbai&#8217;s Bandra<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>The 1,100 sq ft flat is located in building X in BKC in Bandra East<\/li>\r\n\r\n\r\n\r\n<li>The implied price of the flat works out to \u20b948,500 per sq ft<\/li>\r\n\r\n\r\n\r\n<li>Jaiswal comes from a humble background and pursued his cricketing dreams in Mumbai from a young age<\/li>\r\n\r\n\r\n\r\n<li>As a child, he used to live in a tent at Azad Maidan after his parents left for his village in UP<\/li>\r\n<\/ul>\r\n\r\n\r\n<a class=\"wp-block-read-more\" href=\"https:\/\/simplease.in\/blog\/?p=1250\" target=\"_self\">Read more<span class=\"screen-reader-text\">: News tracker: February 25, 2024<\/span><\/a>\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Raymond Group announces 1st project in Mumbai real estate market at Bandra<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>The project &#8220;The Address by GS, Bandra&#8221; will be a mix of 2, 3 &amp; 4 BHK apartments<\/li>\r\n\r\n\r\n\r\n<li>Estimated revenue potential is over \u20b92,000 cr<\/li>\r\n\r\n\r\n\r\n<li>This will be 20 storey project on 2.74 acres land parcel<\/li>\r\n\r\n\r\n\r\n<li>Until now, Raymond Realty was engaged in developing projects at their 100 acre land bank in Thane<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>SD Corporation extends bond payment by two months<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Rescheduled coupon payments on its \u20b9750 cr bonds by 2 months to March 31, 2024<\/li>\r\n\r\n\r\n\r\n<li>Additional condition of depositing the coupon in an escrow account a day before the due date<\/li>\r\n\r\n\r\n\r\n<li>Under revised terms, interest rate will be 12% instead if 5.5% currently<\/li>\r\n\r\n\r\n\r\n<li>SD Corporation is a 50:50 JV between the Shapoorji Pallonji Group &amp; the Dilip Thacker Group<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Oberoi Realty signs deal with Marriott International for developing 2 hotels in Mumbai, Thane<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>The hotels are expected to be completed by 2027-2028<\/li>\r\n\r\n\r\n\r\n<li>Marriott Hotel Sky City Mall in Mumbai&#8217;s Borivali is slated to launch in FY 2024-25<\/li>\r\n\r\n\r\n\r\n<li>JW Marriott Hotel Thane Garden City will be located in Oberoi Realty&#8217;s Garden City project in Thane<\/li>\r\n\r\n\r\n\r\n<li>Already has an association with Marriott International for its existing hotels The Westin Mumbai Garden City &amp; The Ritz-Carlton, Mumbai<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Godrej Properties &amp; Shelton Infrastructure retain plots as Bombay HC reverse\u00a0Cidco aborting bids<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>These 2 developers had won bids for 2 plots in Sanpada but allotment was later cancelled by CIDCO<\/li>\r\n\r\n\r\n\r\n<li>Court rejected Cidco&#8217;s plea to cancel allotments, deeming the cancellation &#8220;irrational&#8221; and &#8220;clearly arbitrary&#8221;<\/li>\r\n\r\n\r\n\r\n<li>The 2 plots were out of 13 in Navi Mumbai which were floated in Feb 21 for residential &amp; commercial use<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">NCR-UPDATES<\/h2>\r\n\r\n\r\n\r\n<p><strong>TCS leases four lakh sq ft office space in Noida<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Space taken in Assotech Business Cresterra on the Noida expressway in one of the biggest office space transactions in Delhi-NCR<\/li>\r\n\r\n\r\n\r\n<li>Assotech Business Cresterra is spread across 2 mn sq ft<\/li>\r\n\r\n\r\n\r\n<li>Earlier, Genpact and Celebal Technologies had taken space at the same complex.<\/li>\r\n\r\n\r\n\r\n<li>Delhi-NCR saw total leasing volume of 3.7 mn sq ft in Oct-Dec 2023, highest this year.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>V-Bazaar&#8217;s owner buys apartment in Gurugram for \u20b9 95 cr<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Smiti Agarwal, wife of CMD of V-Bazaar Retail, bought a 10,800 sq ft apartment in DLF&#8217;s The Camellias project in Gurugram<\/li>\r\n\r\n\r\n\r\n<li>The seller is a Singapore-based NRI<\/li>\r\n\r\n\r\n\r\n<li>The Camellias project is located in Gurugram&#8217;s posh Golf Course Road area.<\/li>\r\n\r\n\r\n\r\n<li>Property prices in The Camellias have surged from \u20b9 22,500\/ sq ft to over \u20b9 85,000\/sq ft in the last few years<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>PAG Asia to invest \u20b9 400 cr in M3M India&#8217;s bonds<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>The investment will be in Lavish Buildmart, a 100% subsidiary of M3M India<\/li>\r\n\r\n\r\n\r\n<li>Funds to be used to repay \u20b9360 cr unsecured loans &amp; acquire land for the &#8216;M3M The Cullinan&#8217; project<\/li>\r\n\r\n\r\n\r\n<li>Bond will be for 44 months with 15% interest rate annually<\/li>\r\n\r\n\r\n\r\n<li>M3M The Cullinan&#8217; in Noida has incurred \u20b9713 cr out of \u20b94,365 cr cost till date<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\">\u00a0<strong><u>INDIA UPDATES<\/u><\/strong><\/h2>\r\n\r\n\r\n\r\n<p><strong>Byju&#8217;s vacates four lakh sq ft office space in Bengaluru to cut costs<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Financially troubled Byju&#8217;s has downsized its office space in Bengaluru, vacating a 400,000 sq ft property at Prestige Tech Park<\/li>\r\n\r\n\r\n\r\n<li>Was paying a rental of \u20b9 4 cr\/ month for the vacated office space<\/li>\r\n\r\n\r\n\r\n<li>Separately, Kalyani Developers sent Byju&#8217;s a legal notice for defaulting on rental payments for a 500,000 square feet office space at Kalyani Tech Park in Bengaluru<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Kolte-Patil Developers to launch projects worth \u20b9 9,000 cr by FY25<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>New project launches worth \u20b9 6,400 cr will be concentrated in Pune<\/li>\r\n\r\n\r\n\r\n<li>New projects to be launched in Mumbai to be around \u20b9 2,500 cr<\/li>\r\n\r\n\r\n\r\n<li>Envisions sales distribution of 70% from the Pune market, with Mumbai &amp; Bengaluru collectively contributing 30% by FY25<\/li>\r\n\r\n\r\n\r\n<li>The sales guidance targets is \u20b93,500 cr in FY25 and \u20b94,500 cr in FY26<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Godrej Properties poised to exceed FY24&#8217;s \u20b9 15,000-cr project addition guidance<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>So far in FY24, has added projects worth \u20b9 11,925 cr through 7 acquisitions<\/li>\r\n\r\n\r\n\r\n<li>Recently acquired a 12.5-acre land parcel in Hyderabad&#8217;s Rajendra Nagar with \u20b9 3,500 cr potential revenue.<\/li>\r\n\r\n\r\n\r\n<li>Added a group housing project in Bengaluru in 3QFY24 worth potential \u20b9 1,250 cr<\/li>\r\n\r\n\r\n\r\n<li>Confident of delivering its best ever annual sales booking &amp; collections this year.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Spyre Proptech to raise \u20b9 400 cr to invest in 30 startups<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>To invest \u20b9 2-8 cr in early stages &amp; \u20b9 15-40 cr in series A &amp; B rounds<\/li>\r\n\r\n\r\n\r\n<li>Venture Catalysts, India&#8217;s first multi-stage VC firm, is the seed investor &amp; co-sponsor of Spyre<\/li>\r\n\r\n\r\n\r\n<li>CREDAI, the real estate developer\u2019s body is backing this fund<\/li>\r\n\r\n\r\n\r\n<li>Over the decades, the team has been backing ventures in the industry including Oyo, Innov8, Planet Smart City, Rentmojo, Homeville.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\"><strong><u>Gobal updates<\/u><\/strong><\/h2>\r\n\r\n\r\n\r\n<p><strong>US existing home sales rise 3.1% in January<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Existing home sales improved to annualised clip of 4.0 mn, the highest level seen in 5 months<\/li>\r\n\r\n\r\n\r\n<li>Sales were down 1.7% year over year<\/li>\r\n\r\n\r\n\r\n<li>Home loan rates hit a low of 6.6% in Dec 23 but are back to 7% now<\/li>\r\n\r\n\r\n\r\n<li>All four U.S. regions saw price increases &amp; 16% of homes were sold above list price<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p><strong>Dubai Property Frenzy Sees Buyers Queue for Million-Dollar Homes<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Government-backed Nakheel PJSC sold all houses on offer at the Bay Villas development within hours<\/li>\r\n\r\n\r\n\r\n<li>500 homes were on offer, with prices starting at $1.2 mn<\/li>\r\n\r\n\r\n\r\n<li>Most expensive properties will cost upwards of $4 mn<\/li>\r\n\r\n\r\n\r\n<li>Nakheel, which was at the center of a property crash in 2009 that nearly bankrupted Dubai has turned around<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>SRK\u2019s daughter Suhana Khan buys 78,000 sq ft plot in Alibaug for \u20b99.50 cr Cricketer Yashasvi Jaiswal buys \u20b9 5.4 cr flat in Mumbai&#8217;s Bandra &nbsp; Raymond Group announces 1st project in Mumbai real estate market at Bandra &nbsp; SD Corporation extends bond payment by two months &nbsp; Oberoi Realty signs deal with Marriott International [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65,19,20,18],"tags":[57,64,46,56,54,52,49],"class_list":["post-1250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global","category-gurgaon","category-india","category-mumbai","tag-gurugram","tag-gurugramrealestate","tag-homepurchase","tag-mumbai","tag-mumbairealestate","tag-realestate","tag-residentialrealestate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>News tracker: February 25, 2024 - Simplease Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/simplease.in\/blog\/?p=1250\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News tracker: February 25, 2024 - Simplease Insights\" \/>\n<meta property=\"og:description\" content=\"SRK\u2019s daughter Suhana Khan buys 78,000 sq ft plot in Alibaug for \u20b99.50 cr Cricketer Yashasvi Jaiswal buys \u20b9 5.4 cr flat in Mumbai&#8217;s Bandra &nbsp; 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