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- Weekly News: Lohia Global's $120 million investment; Housing sales up 68%; Dwarka Expressway Projects up 83%
Weekly News: Lohia Global's $120 million investment; Housing sales up 68%; Dwarka Expressway Projects up 83%
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💲 Lohia Global's new venture investing $120 million in Delhi, Lucknow project.
Delhi-based Lohia Global, known for its manufacturing of electric vehicles and solar energy work, is also looking to capitalize on the Indian real-estate boom. Last week, on Thursday, Lohia Global announced its entry into the real estate business with its venture Lohia Worldspace.
Lohia Worldspace venture is looking to develop five residential projects, totaling 3 million square feet, in the next few years, beginning with luxury residences in Moradabad. The company is looking to focus on Tier-II cities initially, and then move to bigger markets like Delhi NCR (National Capital Region)
"We recognise the rising demand for modern and high-quality housing in India's urban areas and Tier-II markets. We want to first concentrate on projects in the Tier-II cities and then expand to NCR, creating premium living"
In total, the company is looking to invest a total of Rs. 1,000 crore ($120 million) in Moradabad, Lucknow and Delhi NCR by 2030.
📈 Housing sales rose 68% to Rs. 1.11 trillion; Mumbai, Bangalore, Delhi, etc. experienced massive growth.
As per PropeTiger.com, a real estate brokerage firm, housing sales rose to Rs. 1,10,880 crore in the January-March period.
"Growth in housing sales both in volume and value terms augurs well for the overall economy as more than 200 ancillary industries, including cement and steel, are dependent on the real estate sector."
In terms of Area, housing sales this quarter accounted for 162 million square feet, up by 63%; and, as for number of units, we saw a rise of 41 per cent to 1,20,640 units.
Mumbai Metropolitan Region (MMR) saw a 31% growth.
Bangalore/Bengaluru saw a 52% growth in housing sales to Rs 11,310 crore, from Rs 7,428 crore.
Chennai witnessed a 52% increase in sales to Rs 3,290 crore from Rs 2,697 crore.
Delhi-NCR real-estate sales more than tripled to Rs 12,120 crore from Rs 3,476 crore.
Hyderabad saw its housing sales double to Rs 23,580 crore from Rs 9,711 crore.
Kolkata real-estate sales grew by 59% to Rs 2,000 crore from Rs 1,260 crore.
🛣️ Projects along Dwarka Expressway appreciated more than 83% with more to come.
Dwarka Expressway, the 18-km long infrastructure marvel, has helped projects along the route increase 83% in the last ten years; furthermore, projections estimate an additional 20-40% price appreciation over the next 2-3 years.
"With the Haryana stretch of the expressway being operational, this welcomes the demand for more residential and commercial projects along the corridor. Beyond strong connectivity, the Dwarka Expressway serves as the hotbed of a plethora of property options in both segments, catering to the needs of both buyers and investors. This development along the expressway positions the area as the most sought-after micro-market in the Delhi-NCR region, thus contributing to redefining the future of the real estate landscape in the area."
Close to IGI Airport, the International Convention Centre Dwarka, and other prominent parts of the Delhi-NCR, the expressway fosters vibrant commercial activity; with areas from the expressway featuring new residential, commercial, and retail hubs.
📖 Quote of the Day
"The best investment on Earth is earth."