Realty Bites
Gulshan Homz to invest Rs 400 cr on two projects in Delhi-NCR
Realty firm Gulshan Homz will invest Rs 400 crore over next three years to develop two housing projects in Noida and Greater Noida. The company will build nearly 1,900 housing units in the two projects. Noida-based Gulshan Homz has launched 768 units in a 5.3 acre housing project ‘Gulshan Botnia’ on Noida Expressway for about Rs 48 lakh per unit.
In another project named ‘Gulshan Bellina’ in Greater Noida, also known as Noida Extension, the company is constructing 1,124 housing units on seven acre land. Gulshan Homz Director Deepak Kapoor said the company will invest Rs 400 crore on construction of these two projects.
“All investments of the current phase would be met through internal accruals, customer advances and financial institutions,” said Kapoor, who is also President, CREDAI – Western UP.
“Both the projects are RERA compliant and the company targets to deliver the two projects by 2020 as per commitment to customers.
Motilal Oswal to invest 120 cr in Gurugram ATS project
Private equity fund Motilal Oswal Real Estate will invest Rs 120 crore in ATS Group’s housing project in Gurugram. The group has committed Rs 120 crore to ATS Infrastructure from its two funds - India Realty Excellence Fund II & III - the company said in a statement.
This marks the company’s fourth investment in ATS Group in the last three years with commitment of close to Rs 300 crore. The Rs 120-crore investment will be in ATS Grandstand, a 1.7 million sq ft residential development in Gurugram. IREF II has recently pulled out its investment of Rs 75 crore in ATS Pristine project in Noida.
Housing sales up marginally
Housing sales rose marginally by 2 per cent during April-June quarter at 31,539 units in eight major cities as real estate sector continued to remain slow, according to PropEquity. The eight cities included in the report ‘India Residential Real Estate Update Q2, 2017’ are Gurgaon, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru and Chennai.
“Housing demand (absorption) across key cities increased by 2 per cent to 31,539 units from 30,920 units,” PropEquity said in a statement. The new home launches dipped 22 per cent across top eight cities in the second quarter of 2017 to 17,858 units from 22,762 units in the previous quarter, according to PropEquity, which is a real estate data, research and analytics firm.
Housing prices increased by 1 per cent to Rs 6,287 per sq ft from Rs 6,205 per sq ft.
The unsold inventory dipped slightly by 2 per cent to 4,49,233 units from 4,62,914 units due to lower new launches and developers focussing on clearing their existing unsold inventories.
— Agencies
