Posted on

County Group Expands Footprint in Gurugram with Rs 105 Crore Land Acquisition

County Group Rs 105 Crore Land Acquisition

County Group, a real estate company based in Delhi-NCR, has recently acquired a 7.9-acre land parcel in Gurugram for a substantial sum of Rs 105 crore. The land was purchased from Brock Developers Private Limited and Ashiana Landcraft Realty Private Limited, according to documents accessed by CRE Matrix. The land parcel is located in Harsaru village, sector 88A, Gurugram, near the Dwarka Expressway.

This strategic investment is expected to strengthen the County Group’s presence in the rapidly growing Gurugram market and provide opportunities for future development projects.

Perfect Megastructure Private Limited, a subsidiary of County Group, has acquired the development rights for this 7.9-acre land parcel in Gurugram. The company signed a development agreement with Brock Developers Private Limited and Ashiana Landcraft Realty Private Limited on July 9, 2024. A stamp duty of Rs 2.27 crore was paid for the registration of the agreement. It is believed that the County Group is planning to construct a luxury housing project on the recently purchased land parcel.

In an announcement earlier this year, County Group stated their intention to invest Rs 5,000 crore over a five-year period in the development of ‘Ivory County’, an ultra-luxury housing project in Noida. Located in Sector 115, near the Faridabad-Noida-Ghaziabad (FNG) Expressway, the project is anticipated to generate approximately Rs 7,500 crore in revenue.

The acquisition of the land parcel in Gurugram marks a significant milestone for County Group. This strategic move aligns with the company’s ambitious growth plans and demonstrates its commitment to delivering high-quality residential projects in the future. 

Recent Land Transactions in Gurugram

Gurugram’s real estate market is booming, driven by economic growth and increasing urbanization. Developers are actively acquiring land parcels to accommodate their projects. Furthermore, we can expect to see even more such large-scale land transactions in the future.

In a recent transaction, Oberoi Realty purchased 14.8 acres of land in Gurugram for Rs 597 Crore.  In another major land deal, Dvok Buildcon has acquired 18 acres of land in Gurugram for Rs. 310 crore.
Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

Posted on

Prestige Group’s Subsidiary Acquires 4.57-Acre Land in Pune for ₹ 200 Crore

Prestige Group's Subsidiary Acquires 4.57-Acre Land in Pune

Prestige Exora Business Parks, a subsidiary of Bengaluru-based Prestige Estates, has acquired a 4.57-acre land parcel in Pune’s tech hub of Kharadi for ₹200 crore, according to property registration documents accessed by CRE Matrix. Pune-based BU Bhandari M&M Realtors LLP sold the 4.57-acre land parcel to Prestige Exora Business Parks on April 16, 2024. The stamp duty paid for the land transaction was over ₹14 crore. The purchaser paid ₹198 crore to the seller using a demand draft on April 20, 2024.

The tax deducted at source (TDS) for the deal was over ₹2 crore, bringing the total land purchase cost to over ₹200 crore, which further highlights the substantial value of the acquired land parcel and the growing demand for commercial real estate in Pune.

Kharadi, along with Hinjawadi, has become a major tech center in Pune. Many big Indian and foreign tech companies have opened offices in Kharadi’s commercial buildings over the past ten years. Recently, even manufacturing and financial companies have started setting up their global centers there. Kharadi is home to the EON IT Park, a special economic zone owned by Panchshil and Blackstone.

Furthermore, Prestige Group plans to launch its first residential project in Pune signifying the company’s strategic expansion into the region. The projected revenue potential of ₹750 crore to ₹1,000 crore indicates the significant market potential for residential real estate in Pune. This move aligns with the growing demand for quality housing in the city. Prestige Group has announced plans to develop 43 new projects totaling 92 million square feet across various segments in seven cities: Hyderabad, Delhi-NCR, Goa, Bengaluru, Mumbai, Chennai, and Kochi.

This significant land deal highlights the growing demand for commercial real estate in Pune and reinforces Prestige Group’s position as a leading player in the Indian real estate market. With the company’s plans to launch its first residential project in the city, Pune can expect to see further development and growth in the coming years.

Recent Land Transactions

The Pune real estate market continues to witness a surge in land deals, driven by factors such as economic growth, urbanization, and increasing demand for commercial properties. As Pune’s economy expands, we can expect to see more such large-scale land transactions in the future.

In a recent transaction, Tata AutoComp Systems sold more than 13 acres in Pune. In another major land deal, Adani’s Terravista Developers acquired leasehold rights of 25 acres from Finolex for Rs 470 crore in Pune.

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!

Posted on

Property Ventures Sells Malad IT Park to Clear Bridge Ventures for ₹335 Crore

Property_Ventures_Sells_Malad_IT_Park

Property Ventures (India) Pvt Ltd, a subsidiary of RK Marbles, has recently sold an IT Park located in Mumbai’s Malad area to Clear Bridge Ventures LLP for a substantial sum of ₹335 crore. This information was revealed in property registration documents accessed by CRE Matrix. The IT Park spread across an area of 1.96 acres is located in the Linking Road area of Malad West, a well-connected and sought-after area, which adds to the property’s value.

The sale of the IT Park was finalized on August 23, 2024, with a stamp duty of ₹21.85 crore paid on the transaction. This information is based on the property registration documents.  

The IT Park, a substantial structure with six floors above ground level, offers a total saleable area of 1.47 lakh square feet. The property provides ample parking facilities with 123 car parking spaces and six designated slots for other vehicles, as detailed in the registration documents. These features make the property highly attractive to potential investors in the IT sector.

The sale of this IT Park highlights the strong demand for commercial real estate in Mumbai, particularly in well-connected areas like Malad. The property’s features, including ample parking and a prime location, make it an attractive investment option. This significant deal underscores the thriving commercial real estate market in the city.

Recent Transactions in Mumbai

Mumbai’s commercial real estate market is booming. The commercial real estate market is experiencing a significant surge in high-value deals, particularly in the office space sector. This reflects the city’s strong economic growth and strategic importance for businesses. Leading companies and investors are flocking to Mumbai to capitalize on this thriving market.

In a recent transaction, the subsidiary of Redbrick Offices acquired 22 office units for Rs 267.5 crore in Mumbai’s Marol area. In another major corporate spaces deal, Nielsen Media and its subsidiary recently leased 1.52 lakh square feet of office space for ₹3.87 crore per month for a 10-year term in Mumbai’s Goregaon locality. 

Elevate your decisions in real estate as a developer or broker with CRE Matrix‘s data-driven insights. Book a demo now!