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Pune 10th October 2024 A total of 314 projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) are undergoing proceedings at the National Company Law Tribunal (NCLT) under the insolvency and bankruptcy code. The real estate regulator has published the list on its website to prevent homebuyers from getting deceived. The insolvency and bankruptcy proceedings have been initiated by various banks, financial institutions, and other entities extending line of credit to the real estate sector. MahaRERA Chairman Manoj Saunik said, “MahaRERA is consistently working to ensure that homebuyers’ investments remain safe and protected. MahaRERA has compiled this crucial information of the projects undergoing insolvency and bankruptcy proceedings from various sources and has also verified the same from NCLT’s website. A comprehensive and compiled list has been made public for the larger interest of the homebuyers. The list of 314 projects undergoing insolvency and bankruptcy is part of the efforts to alert the homebuyers and prevent them from getting deceived. In April 2023, MahaRERA had brought out a district wise list of 308 such projects, which proved to be helpful to several homebuyers. MahaRERA appeals to everyone to check this list prior to deciding on purchasing a property.” In these 314 projects, significant investment has been made. Of them, 56 are ongoing projects with an average registration of apartments at over 34%. Likewise, among the balance 194 projects that are lapsed, the average registration done is over 61%. The balance 64 projects have been completed, with a registration rate of 84% for the apartments. MahaRERA has initiated several measures to keep a check of all real estate projects. Not only the information shared by the developers is verified, but also keeps itself abreast with project’s status through other sources. The list of projects facing proceedings in NCLT has been compiled based on information obtained from various sources and verified through the relevant authorities’ as well. As the issue is of serious nature, especially pertaining to the investments made in the lapsed projects. Of the 88 projects in Suburban Mumbai, 51 are 70% invested. Similarly, in Pune, of the 50 projects, 75% of 45 projects are already booked. In Thane, 52 out of 106 projects have investments of 50%. In Palghar, 16 out of 18 projects are 74% booked. In Solapur, all the 5 projects have 87% investment. In Nagpur, both the projects have 60% investment and the sole lapsed project in Chhatrapati Sambhajinagar is 55% invested. Additionally, out of the 9 lapsed projects in Mumbai City, 2 of them already have an investment of 68%. In Nashik, there is 34% investment in all the 3 lapsed projects. Whereas, in Raigad, of the 15 lapsed projects, 13 are 32% invested. Of the 56 ongoing projects, 21 are from Mumbai suburbs (with 38% investment), 20 in Thane (28% investment), 6 in Mumbai City (31% investment), 5 in Pune (41% investment), 2 in Palghar (65% investment), 2 in Raigad (9% investment) and 1 in Ratnagiri (nil investment). Among the 64 completed projects, 35 are in Thane and 18 in the Mumbai suburbs. Additionally, there are 9 projects in the Haveli area and 2 in Pune. The total percentage of registration done is 91% for housing projects in Thane, 87% of the apartments in Mumbai suburbs are registered, and 96% in case of projects in Pune. On an average, 84% of the apartments in all the completed projects have been registered. It is unclear if these 314 projects undergoing insolvency and bankruptcy proceedings, are still accepting new customers. Hence, to ensure transparency and prevent homebuyers from getting deceived, MahaRERA has compiled the list and published it on its portal, as it is of the view that it will help in alerting and guiding people. MahaRERA has appealed to the homebuyers to go through the list prior to purchasing a home.

Pune 6th October 2024 Members and other stakeholders about the processes of redevelopment to be followed and acquaint them with various Acts, Regulations, RERA guidelines, Court orders, etc that are necessary to understand. For disseminating such information transparently and seamlessly, we need a web portal; so that all information is displayed to resolve problems and see that projects are monitored”. He added, “We need e-monitoring methods and an Alternate Dispute Resolution’ for stalled projects. Also, we need a ‘Self-Regulated Organization (SRO) platform like a Section 8 Company for self-regulation”. Meanwhile, NAREDCO Maharashtra Collaborated with Ex-MahaRERA Chief Shri Gautam Chatterjee for a Launch ‘Grihamony Redevelopment Stakeholders Federations (GRSF)” for Awareness in Redevelopment. Dr Niranjan Hiranandani, Chairman, NAREDCO and Co-founder, Hiranandani Group, advocated for the need to reduce premium on redevelopment. He said, “The challenge is to match the pace of redevelopment. Reduction of premium would create more affordable housing in the city and hence, at least 50% reduction in premium is necessary. Redevelopment should provide aspirations for a better quality of life”. Mr Rajan Bandelkar, Vice Chairman, NAREDCO and Director, Raunak Group said, “It is important to balance viability for the private sector for undertaking redevelopment projects. The Government should incentivize the societies, which undertake self-redevelopment and consume lesser FSI. People who use lesser FSI, there should not be any premium considering the climate change challenge and the issues engulfing the redevelopment agenda”. Talking about the need to have a conciliation mechanism in Redevelopment, Mr Hitesh Thakkar, Vice President, NAREDCO Maharashtra and Partner, Prem Group, suggested that there needed a framework for resolution of disputes for finding amicable redressal, as the projects would get delayed and entail into high litigation costs.

October 18th to 20th 2024 Nehru Centre, Worli, Mumbai. The highly anticipated Land and Leisure Homes Expo 2024 is set to take place from 18th to 20th October at the iconic Nehru Centre in Worli, Mumbai. Organized by TIIPS and METKONNECT, this premier real estate event brings together builders, developers, and property enthusiasts to showcase and explore the best weekend home destinations, land, plots, farmhouses, villas, resorts, and residential properties as lucrative investment opportunities. Connecting Buyers with Dream Destinations As demand for second homes continues to rise, the expo will provide a strategic platform for discerning buyers looking to invest in serene weekend retreats, scenic farmhouses, and luxury villas. Popular second-home destinations like Alibaug, Lonavala, Karjat, Neral, Matheran, Khopoli, Pali, Pune, Goa, and Gujarat will be showcased, offering an escape from city life with natural beauty and growing investment potential. Media Coverage, Exclusive Offers & Celebrity Guest The The Land and Leisure Homes Expo’s coverage will also be bolstered by media partner Outlook Business and radio partner Radio City 91.1 FM, ensuring widespread visibility across digital and radio platforms. Attendees will also have the opportunity to avail exclusive on-the-spot booking offers, with discounts of up to 20% on select properties, and with that many more exciting offers, making this a must-attend event for serious buyers and investors. The exhibitors for the property expo includes Nirvana Realty, Mera Villa Infra, Nynex, Sukhwani Buildtech, United Builders, Doodle Homes, Aarush Realty, Rhythm Resitel, Arihant Infrastructure, Shivgan Infratech, Apratim Group, Vishhram Developrs, Jambrung Valley, Avvirahi Group, Iraah Lifespaces, Riyasat, and many more High end projects. The Land and Leisure Homes Expo 2024 is poised to captivate audiences with special appearance by celebrity guest Mrs. Bhagyashree Dassani for the Business Excellence award ceremony taking place on the third day of the expo, adding a glamorous touch to the event. Please click here to register for India’s most promising land & second homes exhibition Key Highlights of the Expo: High value investment projects The expo will feature 70+ stalls, of builders and developers that present weekend homes, land, plots, farmhouses, and villas to a high-quality audience, including 10,000+ High-Net- Worth Individuals (HNIs) for premium investment options. Explore the Best Second-Home Destinations The event will highlight key weekend destinations like Lonavala, Alibaug, and Karjat, offering buyers a wide array of properties suited for investment and personal use. On-the-Spot Booking Offers For buyers ready to make a move, the event will feature up to 20% off on-the-spot bookings, lucky draw, and many more exciting offers providing unbeatable deals on select properties. Gain Valuable Market Insights Attendees will benefit from workshops and seminars led by industry experts, covering topics like sustainable development, real estate market trends, and investment strategies. Widespread Media Coverage With Outlook Business as the media partner and Radio City 91.1 FM as the radio partner, and Zee News as the advertising coverage partner. The event is set to receive extensive coverage, reaching a national audience and further elevating the exposure for participating brands. Networking Opportunities The expo offers ample opportunities for developers, investors, and buyers to connect, share insights, and forge new business relationships. Leverage Advanced VR Technology Developers will have the chance to use the latest in virtual and augmented reality to showcase their properties, providing buyers with immersive experiences to visualize their investments. Recognition and Awards The expo will also feature an awards ceremony celebrating excellence in business, offering participants a chance to earn industry recognition and enhance their brand’s prestige. The event will also have a panel discussed on 20th October which will extensive industrial insights taking place before the award ceremony Why Weekend Homes Are a Smart Investment Weekend homes are becoming increasingly popular as buyers seek a peaceful retreat away from the city’s hustle. With the option to rent these properties when not in use, they provide a flexible and secure investment. Coupled with rising demand, weekend homes in destinations like Lonavala, Alibaug, and Khopoli offer both a lifestyle upgrade and long- term financial returns. Secure Your Place at the Expo With growing interest in second homes and scenic investment properties, the Land and Leisure Homes Expo 2024 offers the perfect opportunity for developers to showcase their projects to an eager and affluent audience. Don’t miss out on this chance to connect with buyers, secure sales, and gain industry recognition. Don’t miss the opportunity! For participation, please click here to register for the Land and Leisure Homes Expo 2024. About TIIPS and METKONNECT TIIPS and METKONNECT are leaders in organizing innovative real estate events that foster collaboration and growth within the industry. The Land and Leisure Homes Expo 2024 continues this tradition, offering a cutting-edge platform to connect buyers and developers with the future of second-home investments. For more details, please visit https://metkonnect.in/Registration/

Mumbai 4th October 2024 In a spectacular showcase of the Mumbai Metropolitan Region’s vibrant real estate sector, more than 77 new projects were launched at the third edition of HOMETHON Property Expo 2024 organised by NAREDCO Maharashtra, which began at Jio World Convention Centre in Mumbai today. Over ₹10,000 crore worth of inventory has been launched in the MMR region and is being showcased at the expo. This mega event presents buyers with an once-in-a-lifetime opportunity to invest in Mumbai’s most dynamic real estate market. The inventory features a comprehensive range of properties, from affordable housing to luxury residences and premium land parcels, catering to diverse buyer needs. The expo will be on till October 6, 2024 and has already witnessed a spurt with over 75,000 homebuyers registered for the three-day exhibition to explore various options of property buying in Mumbai Metropolitan Region and other parts of Maharashtra. This year’s registration numbers are almost triple over the last year indicating a huge demand for home ownership by the buyers for housing properties at different locations with multiple price points coupled with attractive offers. Mr Prashant Sharma, President, NAREDCO Maharashtra revealed the fact on the occasion of inauguration of HOMETHON Property Expo 2024. Mr Sharma also announced the launch of NAREDCO Maharashtra’s yet another ambitious initiative of ‘Redevelopment Council’ whereby a special window has been set up in the Expo to solicit the enquiries of housing societies from all across the MMR and rest of Maharashtra and facilitate a complete advisory and execution of redevelopment proposals made by the incumbent societies. Until now, over 4000 housing societies have already registered to seek redevelopment proposals. HOMETHON Property Expo 2024 also saw a unique initiative whereby NAREDCO MAHARASHTRA has put forth its plans to sign a Memorandum of Understanding (MoU) with the Government of Maharashtra  to promote eco-friendly and sustainable urban development and instill green building practices among the real estate fraternity. For the same, NAREDCO Maharashtra will soon sign an MoU with Maharashtra State Agriculture Price Commission chaired by Shri Pasha Patel, informed Mr. Rajan Bandelkar, Vice Chairman, NAREDCO. Commenting on the significance of the expo, Mr. Prashant Sharma, President of NAREDCO Maharashtra said, “The HOMETHON Property Expo will be a game changer for the MMR real estate sector. With over 10,000 crore of inventories up for sale and 77+ new projects launched, this expo will play a pivotal role in addressing the region’s housing demands. It’s the perfect platform for developers and buyers to connect, and with such a diverse range of offerings, we believe there’s something for everyone.” Dr. Niranjan Hiranandani, Chairman, NAREDCO says, “The housing market is currently experiencing a vibrant surge, fueled by greater job stability, increased disposable incomes, and rising aspirations. Against this backdrop, and with the added excitement of the festive season, this property exhibition is uniquely positioned to help home buyers achieve their long-cherished dream of owning a home.” Mr. Rajan Bandelkar, Vice Chairman, NAREDCO says, “NAREDCO Maharashtra is dedicated to creating a robust ecosystem marked by trust and transparency, which has significantly bolstered home buyer confidence. This property expo offers an exceptional opportunity for developers to showcase their premium projects and connect with prospective buyers. With exclusive discounted rates and a wide range of options, this event is designed to make the home-buying process more accessible and rewarding for all. We are excited to facilitate this vital connection and support our vision of making home ownership a reality for many.” This mega event presents buyers with an once-in-a-lifetime opportunity to invest in Mumbai’s most dynamic real estate market. The inventory features a comprehensive range of properties, from affordable housing to luxury residences and premium land parcels, catering to diverse buyer needs.  HOMETHON 2024 will also provide visitors with the opportunity to engage in one-on-one consultations with real estate professionals, offering personalized guidance on the home-buying process.

October 1st October 2024 Mumbai, 1st October 2024: The National Real Estate Development Council (NAREDCO) Maharashtra, which has organised the third edition of India’s largest real estate property expo ‘HOMETHON Property Expo 2024’ from October 4 to 6th, 2024 at the JIO World Convention Centre, BKC, Mumbai, is all set to go green. On the onset of HOMETHON Property Expo 2024, NAREDCO Maharashtra has announced that it would sign a Memorandum of Understanding (MoU) as a part of its ‘Sustainable and Environment – Friendly Future Housing’ initiative in the presence of Eknath Shinde, Chief Minister of Maharashtra, on the day of inauguration of the HOMETHON Property Expo 2024 on 4th October, 2024. Over 50,000 homebuyers have already shown interest through registrations to fulfil their dream of home-ownership; with this year’s pre-event registrations nearly doubling compared to the last two years. As part of this initiative, NAREDCO Maharashtra has collaborated with PHOENIX FOUNDATION SANSTHA led by a veteran Agriculturist, an advocate of Bamboo Cultivation as a Climate-Resilient Action Mr Pasha Patel who is the Chairman of Agriculture Price Commission of Maharashtra and also an Executive Chairman of the task force appointed by the Maharashtra Government under Atal Bamboo Sumruddhi Yojana. With this collaboration, NAREDCO Maharashtra, under the guidance of Mr Pasha Patel, will spread awareness among the developers for using Bamboos, as a climate-friendly material in housing construction projects and take the pledge to focus on constructing future housing with environment-friendly, sustainability initiatives, as its commitment towards the environment. Commenting on this initiative, Mr. Rajan Bandelkar, Vice Chairman, NAREDCO says, “NAREDCO Maharashtra is dedicated to creating a robust sustainable ecosystem, as a trade-off between the homebuyers and the developers, which would have a positive impact on the climate footprint. As a unique step, this year’s HOMETHON Property Expo will showcase our commitment towards delivering sustainable future housing. Exploring the usage of Bamboo, other climate-friendly material and further climate-friendly actions would mark our commitment to support the net zero initiatives at the State and the country’s level.” Commenting on the HOMETHON Property Expo, Mr. Prashant Sharma, President, NAREDCO Maharashtra said, “We are witnessing an exceptional surge in homebuyer interest, significantly driving up the demand for housing. We are thrilled to host the HOMETHON Property Expo 2024, where we expect a notable increase in home sales. This year’s expo will feature exclusive discounts and special Dussehra offers from developers and housing finance companies, providing a prime opportunity for buyers to secure their dream homes at great value. I encourage all potential buyers to take advantage of these exceptional deals at HOMETHON Property Expo 2024. This year’s HOMETHON Property Expo is going green, as it will usher the homebuyers experience into green, environment-friendly housing projects.” Further elaborating on the contribution of real estate sector in sustainable development, Mr Pasha Patel said, “In order to combat climate change in the state, the real estate industry can be a major contributor, as it can promote sustainable housing by extensively using material such as Bamboos as an alternative to conventional materials in construction projects, which will positively impact the climate and combat rising temperate issues. Besides, the trade body can significantly support Bamboo plantation program being proposed by the BMC within the city and other such initiatives in MMR and other parts of the State.” Besides green initiatives, HOMETHON Property Expo 2024 will also witness other unique initiatives. In a distinct move to focus on opening up multiple avenues for the much-needed talent pool for development of the real estate sector from engineering, construction technology to marketing, finance to sales spectrum, the expo will discuss various career opportunities the sector could throw open for the aspirants. In order to boost the ‘Redevelopment’ landscape within MMR and establish a bridge of trust and transparency between the developers and the housing societies, the experts will deliberate on chalking out the path to engage with the stakeholders of housing societies in MMR to guide on various opportunities underlying from the redevelopment stand point. The HOMETHON Expo 2024, which is endorsed by Bollywood’s star couple, Riteish and Genelia Deshmukh, will showcase over 1000 top notch projects from leading developers from Maharashtra, which will be within the price range of Rs 19 Lakhs to Rs 9 Crore, both in affordable and luxury segments, with likely incentives such as no-stamp duty or registration charges and also offer attractive home loan schemes from top housing finance companies. The expo will include properties from across Mumbai and MMR as well as Thane, Kalyan, Navi Mumbai, Panvel, Raigad, Mira Road, Vasai, Virar etc. and also from Pune, Nashik and Nagpur.

Pune 26th September 2024 sirrus ai, a ground-breaking Al-driven proptech experience platform, is set to pioneer the real estate industry by equipping developers and brokers with advanced tools for prospect lifecycle management. Powered by The Chatterjee Group (TCG), the platform offers a steadfast commitment to enhancing the customer experience by streamlining workflows and minimising manual tasks, thus making real estate operations more effective and productive. Talking on the sidelines of a roundtable conference organised by sirrus.ai in the city, Sauvik Banerjjee, the MD & CEO of sirrus.ai, said: “The launch of sirrus.ai marks a significant milestone in our mission to revolutionise the real estate industry. The sector is yet to fully harness the power of Al and generative Al. but there are countless use cases waiting to be addressed. Tech companies have a crucial responsibility to tackle these challenges and unlock the potential of Al in real estate. Positioned as a game-changer, sirrus.ai is a pioneering B2B platform that aims to enhance the home- buying experience, from the initial prospect stage to final possession. The platform integrates the entire prospect lifecycle, focusing on customer experience, efficiency management, and productivity. It facilitates the rapid creation of marketing collateral, 3D visualisations, and actionable insights, covering both pre- and post-possession stages. With its blend of efficiency, productivity, and robust security, sirrus.ai is set to redefine how real estate developers operate, Banerjjee stated. “The app will pave the way for a more innovative and customer-focused future,” he added. About TCG TCG, founded in 1989, operates across diverse sectors globally petrochemicals, life sciences, technology, real estate, and financial advisory. The group’s notable ventures include Haldia Petrochemicals (HPL), MCPI, Lummus Technology, LabVantage, TCG Real Estate, TCG Lifesciences, TCG Digital, and Garden Vareli About sirrus.ai sirrus.ai is an advanced Al-driven proptech platform designed to elevate the real estate experience. It equips developers and brokers with sophisticated tools for effective prospect lifecycle management. Backed by The Chatterjee Group (TCG), the platform focuses on enhancing customer experience. By streamlining workflows and minimizing manual tasks, it boosts efficiency and productivity. With sirrus.ai. prospect lifecycle management becomes seamless and effective.