Channel Partner Meet held
Ashwin Sheth Group recently hosted its first Channel Partner Meet for the ’72 West’ project at Andheri West. Approximately 150 plus participants from the western suburbs gathered and were also provided with a tease of an upcoming project in Kandivali West. Located near Lokhandwala, the 35-storeyed tower has fine dining restaurants, shopping avenues, quality education and hospitals within a short radius. Ashwin Sheth, Chairman and Managing Director, Ashwin Sheth Group, said, “The year 2023 has started well for real estate, with January clocking in record numbers in a decade. A combination of factors, including infrastructure development and government initiatives to promote real estate investment, is further triggering positive consumer sentiments. We are confident that this trend will continue.”
Bombay High Court ruling
A petition was registered under Article 226 of the Constitution of India on March 15, 2022 concerning the redevelopment or reconstruction of demolished dilapidated buildings. Since existing buildings were demolished, after being declared dilapidated and dangerous, the petitioners, Mangal Buildhome — were facing action for issuance of CC for their demolished building under Section 354 of the Mumbai Municipal Corporation Act, 1888. On March 20th, the Bombay High Court passed a ruling wherein 50-70% consent is required for receiving Commencement Certificate (CC) and not 100%. It held that the minority among tenants or occupants cannot foist on the owners a delay in commencement of redevelopment work, resulting in the project cost being increased, which would be prejudicial to the owners or developers and above all [to] the majority of the occupants.
Naiknavare Developers launches Avasa
Naiknavare Developers has launched Avasa, its new business vertical of premium plotted development, under which the first project, Avasa Meadows will be located near the Vadgaon Maval area of Talegaon, which is connected to the Mumbai-Pune highway and has good railway connectivity also. It comprises of 62 N.A plots sized 1848 sq. ft. to 2846 sq. ft., starting at Rs. 60 lakh plus taxes. The design at Avasa incorporates a range of relaxed settings for mingling and socializing with five key built-in values. Naiknavare Developers is also bracing up to launch two other plotted development projects in Talegaon.
JLL facilitates land transaction
JLL has facilitated a land transaction at Koregaon Park, Pune for Godrej Properties. The ~ 4 acre land parcel will have a developable potential of approximately 7.5 lakh square feet of luxury residential and retail spaces. Koregaon Park is one of the most premium residential micro markets in Pune and has an established physical and social infrastructure. Koregoan Park offers easy access to ample residential, office and retail developments along with hotels, hospitals, schools, and more, making it an attractive destination. The location offers excellent connectivity to all major social and commercial hubs of Pune city.
Urban Blossom project launched
SVC & Lahari have launched the Urban Blossom project in Faridabad. The project is two minutes from Delhi Agra NH2 and NHPC metro station. The greenfield project is also linked to South Delhi. The project is spread across 5.01 acres of residential plots and greenery along with 0.20 acres of commercial space. There will be a total of 95 plots with sizes in the range of 121 to 165 square yards. The project is based on a nature theme and will have green spaces, parks, a temple, kids playing areas alongside modern amenities and facilities.
