Real Estate News

Macrotech Developers Forms 5 JVs To Build Projects Of ₹ 4,500 Cr.

Macrotech Developers has formed five joint ventures since April to develop projects with a potential of ₹ 4,500 crore.

In an interview, Macrotech Developers MD and CEO, Abhishek Lodha was quoted as saying, “We have signed five JDAs (Joint Development Agreements) in the first half of this fiscal to build projects, which have a topline of around ₹ 4,500 crore. And the pipeline of JDAs is also looking very good. Residential demand is very strong across all price points, affordable, mid-income and premium. There are good opportunities for expansion through JDAs.”

“People now want to buy bigger homes with better amenities. This shift in demand towards quality products is helping companies like ours. Home ownership concept has gained importance since the outbreak of COVID-19 pandemic. There is a good interest in good quality products. Low interest rates on home loans are also a major factor,” Lodha added.

The company, he said, was focusing on sustainable development, by reducing carbon footprints and expanding green covers across all its projects. Macrotech Developers, a Mumbai based company, markets its properties under the ‘Lodha’ brand.

PM Modi Hands Over Keys To 75,000 Beneficiaries Of PMAY-U in Lucknow

Prime Minister Narendra Modi inaugurated and laid foundation stones of 75 Urban Development Projects of UP under Smart Cities Mission and AMRUT in Lucknow. He handed over keys of Pradhan Mantri Awas Yojana Urban (PMAY-U) houses to 75,000 beneficiaries, digitally.

PM Modi said, “Under PM Awas Yojana, over 80% of the houses are either owned by women or they are joint owner of these houses. After 2014, our government has given the permission to build over 1.13 crore houses under PM Awas Yojana, in the city. Of these, over 50 lakh houses have been built and given to the poor so far.”

Under the central scheme, women had been given property rights instead of the husband or sons in order for “balance in a healthy society.” “Under PM Awas Yojana, Central government has transferred nearly ₹ 1 lakh crore in the accounts of the poor. 3 crore families, who were living in slum area and didn’t have pucca houses, got an opportunity to become ‘lakhpati’ with a single scheme. It is a big thing…. these people are ‘lakhpati’ now,” he added.