The land was bought from the Ranga Reddy district land aggregator Sai Balaji Developers, according to a document released by the data analytics company Propstack.

Microsoft intends to build one of the largest data centers in the area as part of its ambitious aspirations to grow its data center business.

According to someone with knowledge of the transaction, the corporation paid a premium for the land, and the location is roughly forty kilometers from Hyderabad’s major metropolis.

Pune, Mumbai, and Chennai are the three existing Microsoft data center regions in India that have been in operation for the previous five years. Hyderabad is the newest location to join this network.

“Microsoft had also bought two more land parcels in Hyderabad for the data centre business,” he stated.
“We have no information to share at this time,” Microsft stated in answer to a question.

Currently, Microsoft has a 54-acre India Development Center (IDC) in Hyderabad, which is located apart from Bengaluru and Noida. The growth and advancement of Microsoft’s technology products, including Azure, Windows, Office, and Bing, have been greatly aided by the IDC.

In addition, the company has been expanding across the nation for the previous two years in the flexible office space market.

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Telangana RERA chairman N Satyanarayana stated that the organization is working on finalizing the module and has enlisted the help of multiple stakeholders. The goal is to boost the credibility of realtors, who are frequently the ‘face’ of a property transaction.

At the moment, only Maharashtra has such a rule.

“I studied the Maharashtra model and resolved to put in place a similar system here,” said the TS-RERA chairman, adding, “The concept is to organize a training program for real estate agents and have an online test at the end.” Those who pass the test will receive a certificate.”

The official stated that he was in talks with the Hyderabad Realtors Association (HRA) and the Advocates Association for Social Responsibility and Awareness (AASRAA) to iron out the details of this proposal and assist RERA in implementing it. “I also intend to bring in some premier institutions to provide training and administer the test,” Satyanarayana added. He wants it to be available in Telugu as well as English.

HRA members believe it is a positive step toward institutionalizing the real estate sector. “It will increase transparency and trust in the real estate industry.” “We are committed to working with RERA to ensure the successful implementation of this system,” stated HRA President Sarith Jonnala.

To begin practicing as a realtor, property agents must complete a day-long certification course and pass an exam, as part of the Maha RERA model used in the neighboring state. The license that is issued after that is good for five years.

The structure has been working effectively in Maharashtra, and we wish to see all other states initiate the process because it will not only give credibility to the profession but also guarantee that they are fully furnished to serve as the trusted face of property deals,” said Ravi Varma, chairman of the National Association of Realtors, India.

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Vishwanadham Keshetti, a Jeedimetla homeowner who was one of the complainants, accused Sahiti Infratec Ventures’ Boodati Laxminarayana of defrauding consumers. The business had promised to sell him a yet-to-be-built property for 48 lacks as part of their pre-launch offer.

According to the agreement of April 28, 2021, the complaint consented and paid the whole sum.

However, the company remained unresponsive and did not begin any returns despite repeated attempts to inquire about the project’s status. The high-rise apartment complex’s construction was scheduled to be finished in 36 months, with a grace period of 6 months beginning on the day of the project’s final approval.

The commission ordered a full refund of the money paid together with 9% interest since Sahiti Infratec, according to the commission, failed to provide any proof of the project’s development.

Additionally, the corporation was told to pay 5,000 in expenses and 50,000 in compensation.

Chaluvadi Sridhar and Yarlagadda Sravanthi each received refunds of 21 and 33.2 lakh respectively in the other cases. They both also received awards for a 50,000 dollar compensatory payment and a 5,000 dollar expense payment.

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Both the collections and realisations of these enterprises have increased as a result of the booming residential demand in the mid, premium, and luxury categories across India’s key real estate cities, including Mumbai, Delhi-NCR, Bangalore, Pune, Kolkata, and Hyderabad.

Their credit and leverage profiles were strengthened as a result of the performance, which is anticipated to continue over the medium term.

Despite the fact that major developers used funds for land purchases during the previous fiscal year, the liquidity profile for 11 listed developers—including cash and bank balances—rose to approximately Rs 13,000–14,000 crore in 2022–23 from Rs 9,046 crore in 2019. This is according to Gautam Shahi, director of CRISIL Ratings.

In terms of value, the top 11 significant and publicly traded real estate developers saw a rise in sales of over 50% from year to year in 2022–2023 while the area sold increased by almost 20%. These developers’ greater realisation per sq ft indicates the preference for larger and more luxurious homes.

“Due to the underlying economic expansion, the property market has experienced strong sales momentum in recent years. Consistent sales, increased conversion rates, and realisations have all contributed to an improvement in liquidity, enabling greater economic activity and velocity. Homebuyers will benefit as a result of better execution and prompt delivery, according to Savvy Group CMD Jaxay Shah.

Since the start of the pandemic in 2019–20, it is estimated that the gross debt of 11 listed large residential real estate developers, including Brigade Enterprises, DLF, Godrej Properties, Kolte-Patil Developers, Macrotech Developers, Mahindra Lifespace, Oberoi Realty, Prestige Estates, Puravankara, Sunteck Realty, and Sobha, has decreased by more than 42%.

In this time, these enterprises had paid back debt of Rs 18,000–20,000 crore, and as of March 2023, their combined net debt had decreased by more than 50%, to Rs 20,500 crore from Rs 44,780 crore.

He claims that the demand surge is anticipated to continue because inventory is at reasonable levels, typically around three years’ worth of sales, down from around 4.5 years prior to the epidemic. As a result, developers are in a better position and have more faith that fresh releases will be taken up in line with rising demand.

The debt to total assets ratio for the listed developers is anticipated to drop to 20% by March 2024 from an initial estimate of 45% due to strong collections that resulted in reduced debt. Small and midsize developers’ credit metrics have also improved, with the debt-to-total asset ratio predicted to be 45–47% by March 2024 as opposed to 54% before to the pandemic.

To benefit from the latter’s execution abilities, strong balance sheets, and reputation for quality commensurate with the brand image, larger developers may need to partner with these players for new launches because they rely more heavily on debt and may need to do so.

Due to ongoing strong sales and collections from their ongoing projects, easier access to bank financing and capital markets, and growing consumer preference for reputable and well-known brands, the large developers are poised to increase market share to close to 30% this fiscal from 16–17% in fiscal 2020.

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Nearly 40 locations connected to the Kohinoor Group and Red Rose Group in Hyderabad, Gurugram, Noida, and Karnataka were searched.

Mohammed Quadri Ahmed and Mohammed Amjad of KM Kohinoor Realtors Private Limited had searches done at their homes in Gudimalkapur and Rein Bazar, respectively.

Syed Hameedudin, Mohammed Sami Ur Rehman, and other Red Rose Group promoters’ homes in Edi Bazar were also searched.

The WIIZ Realtors and WIIZ Properties real estate firms, the RR Pan Masala manufacturing company, the spice industry, and hospitality are all part of the Red Rose Group. In Gurugram, Noida, and Karnataka, RR Pan Masala factories were searched.

Additionally, I-T detectives searched Crystal Mansion and the Kings Colony home of one Majid Khan, a director of the company. The groups’ function palaces were also searched.

According to reports, investigators were investigating the real estate corporations’ dealings with politicians. I-T officials searched the Red Rose Group’s properties in July 2018 and found 2 crores in cash there.

According to reports, I-T investigators were investigating into questionable cash transactions in the Red Rose Group’s real estate and pan masala businesses.

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I-T sleuths were investigating possible tax evasion after some real estate companies recently sold villas in Gandipet, Narsingi, Kokapet, Nanakramguda, and other western parts of the city for 25-35 crore each.

“A substantial sum of money is paid in cash. As a result, we conducted searches to identify both buyers and real estate firms “According to an I-T official.

The city has seen a surge in I-T searches for top real estate firms.

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Residential sales increased by 68% year on year (y-о-у) in 2022, with more than 50,000 units sold in each of the four quarters. Bengaluru and Mumbai led annual sales in 2022 with over 46,000 units (22% share each), followed by Delhi NCR with 38,000 units (18% share).

Quarterly sales (October-December) increased by 16% in Q4 2022 over Q4 2021. However, it was down 5% sequentially due to a cautious approach and delayed decision-making by prospective home buyers in the final month of the year due to global headwinds and uncertainty in economic conditions.

“The massive sales volumes in H2 2022 prove that sales were still rigorous despite recent challenges, trying to highlight the strength of India’s residential market and the increasing significance of home ownership post-pandemic. The Indian residential market is expected to maintain its growth momentum in 2023, despite global headwinds and higher interest rates “JLL managing director and head (Residential Services-India) Siva Krishnan said.

Bengaluru and Mumbai have a combined 21% share of quarterly sales, while Pune has an 18% share.

Almost half of the sales in 2022 came from apartments priced between Rs 75 lakh and Rs 75 crore. The sales momentum also remained strong in the premium segment, with apartments priced at Rs 1.5 crore or more accounting for 19% of total sales in 2022.

The proportion of apartments priced below Rs 50 lakh in total annual sales has fallen from 28% in 2021 to 22% this year. On the other hand, the premium segment’s share (prices above Rs 1.5 crore) has increased from 10% to 19%.

Residential prices in India’s top seven cities have risen by 4-11% year on year, while home loan interest rates have risen by around 200 basis points in the last 7-8 months. Prices are rising across the board for projects with high demand and limited ready-to-move inventory. Existing project phases are also being launched at higher prices.

The number of new launches in 2022 increased by 81% year on year. The majority of the launches (26%) took place in Mumbai, with Hyderabad coming in second (22%). Bengaluru and Pune each had a 20% share. More than 40% of the new launches were priced between Rs 75 lakh and Rs 1.5 crore. In the year, premium segment apartments priced above Rs 1.50 crore accounted for a sizable 21% share.

Unsold inventory in the seven cities increased by 1.8% year on year in Q4 2022, as new launches outpaced sales. Mumbai, Bengaluru, and Hyderabad account for 63% of the unsold inventory. Years-to-sell (YTS) analysis reveals that the expected time to liquidate the stock has decreased from 3.1 years in Q3 2022 to 2.9 years in Q4 2022.

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The GHMC has reduced the fiscal budget for 2022-23 from 6,150 crores to 6,475 crores. The civic body has allocated 25% of its expenditure, or 1,530 crores, in the 2023-24 budget for new roads, flyovers, bridges, road under bridges (RuBs), road under bridges (RoBs), and traffic signals.

775 crore has been set aside for the strategic road development program (SRDP), 150 crore for the comprehensive road maintenance program (CRMP), and 605 crore for other road construction and maintenance. The budget for land acquisition has been set at 700 crores, nala expenditure at 510 crores, and street lighting at 240 crores.

GHMC has set aside 450 crores, or 7% of its total spending, for debt servicing (paying loans). The interest component alone accounts for 390 crores.

Furthermore, the GHMC estimates that borrowings will account for 20% of total receipts (1,218 crores). According to the budget revenue details, the civic body would obtain around 2,000 crores from property taxes, accounting for 32% of total receipts.

“The increase in property tax receipts is due to the 100% evaluation of new characteristics and mutation automatically on property registration without human interface,” according to a GHMC press release.

The estimated revenue for the fiscal year 2022-23 for the town planning wing is Rs. 1,750 crores, accounting for 28% of total receipts. Protests erupted during the general body meeting after BJP and Congress corporators requested that other items on the agenda take priority over the budget discussion.

On the other hand, the mayor insisted on sticking to the agenda. Soon after, opposition party corporators gathered around the chair, holding Congress placards with images of a road collapse in Chaknawadi lane in Goshamahal on Friday. Vijayalakshmi ultimately adjourned the meeting and blasted the BJP for failing to represent their division.

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Nowhera Sheik and her Heera Group of companies were discovered by ED sleuths transferring 148 crores to SA Builders and Developers for the purchase of properties in Tolichowki. The properties were worth 70 crores and had already been attached in the Heera Group case.

The remaining funds totaling 78 crores were discovered to be parked with SA Builders and Developers, according to the ED. The ED discovered that SA Builders and Developers had transferred 41 crores out of 78 crores to Neelanchal Technocrats Private Ltd and four shell entities in Kolkata and Shillong.

Salarpuria Sattva Group, a real estate developer, received the funds as loans. On November 7, the ED conducted searches at the offices of Salarpuria Sattva Group in Bengaluru, discovering a money trail and attaching immovable properties and bank balances totaling 78 crores as the equivalent value of the crime proceeds.

Syed Akhtar was named as a partner by the ED, and the bank balance of Rs 41 crore traced to Bengaluru-based Neelanchal Technocrats was part of the Salarpuria Sattva Group.

In 2018, the ED filed a money laundering case against Nowhera Sheik and others on charges of collecting over 5,000 crores as an investment from gullible depositors by promising an unreasonably high 36% annual return on investments.

Her Heera Group, on the other hand, failed to repay even the principal amount and duped thousands of investors. In the same case, the ED had attached assets worth 3300 crores.

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The investment with EON Group is part of Certus Capital’s strategy to deploy approximately Rs 500 crore in senior secured real estate credit deals through Earnnest.me in the current fiscal year.

With this Rs 30 crore capital infusion, Earnnest.me investments have surpassed Rs 100 crore across three transactions since its launch in February. Prior to this, it had invested Rs 40 crore in Pune-based real estate development firm Pharande Spaces‘ portfolio of four affordable housing projects, and another Rs 40 crore in Chennai-based real estate firm Arun Excello’s portfolio of four residential projects.

The EON ONE project, which spans more than three-quarters of an acre near Siddhivinayak Temple, entails the redevelopment of an old housing society as well as the rehabilitation of its existing 27 members. While the rehabilitation portion of the project is nearing its end, the sale element has a total potential growth of 1.5 lakh sq ft and will be completed by December 2025, as all approvals have already been obtained. Based on current property rates in the area, the project is expected to bring in Rs 400 crore in revenue.

“Certus Capital’s investment in EON is a component of the firm’s strategy to fund well-placed projects carried out by developers in Tier 1 cities. “The residential real estate sector is experiencing increased demand and sales. Earnnest.me will continue to provide carefully selected and thoroughly researched property investment opportunities to our investors “According to Ashish Khandelia, founder of Certus Capital and Earnnest.me, the number is 11.

Certus Capital picks up 10-15% of each investment as part of its strategy to ensure its presence throughout the investment period. So far, more than 200 investors have invested in various credit opportunities through Earnnest.me, with a minimum spend ticket size of Rs 10 lakh. Over 50% of investors have returned to the platform.

It has a diverse group of investors that includes real estate agents, finance experts, family offices, CXOs, ultra-high networth individuals, professionals, and so on. Earnnest.me continues to actively assess deals in tier 1 markets such as Hyderabad, Bangalore, Pune, Mumbai, and Chennai.

Certus Capital has added former Deloitte India executive Vishal Singh to its leadership team in order to strengthen its institutional investment banking business. Ex-Piramal Capital executive Gaurav Bhalla has been appointed as Director, and ex-Deloitte India executive Siddharth Pal has been appointed as Senior Vice President. In addition, in 2023, it aims to launch its first category-ll alternative investment fund (AIF).

Certus Capital has assessed over Rs40,000 crore of real estate credit exposure held by NBFCs and housing finance companies since its inception in 2018. Certus also advised foreign investment firms on nearly Rs 10,000 crore in closed investments and platform commitments in the real estate credit and warehousing space.

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