The company will also commence work on the Chalukya Hotel to develop 1.5 lakh square feet of Grade A office space in the city’s central business district for a rental return of about Rs 335 crore.
The company plans to launch at least four new residential projects in FY24, with a development potential of 5 million square feet and an expected gross revenue of over Rs 3,000 crore.
India's annual housing sales rose in fiscal 2023 due to improved earning potential, a private review showed on Monday.
Homes worth Rs 3.47 lakh crore were sold in FY23, representing 48% annual growth as the value of residential real estate sales hit a new record during the fiscal, according to a survey by Anarock. A total of 3.79 lakh units were sold in fiscal 2023, registering a growth rate of 36% year on year.
CBRE anticipates strong sales and launch momentum in the first half of 2023, with a minor tapering in activity likely in the middle of the year. Capital value appreciation trends are expected to vary based on the segment, city/micro-market, unsold inventory levels, and even project attributes