Deepinder Goyal’s ₹79 Crore Purchase Tops Delhi’s FY2024 Land Deals; 29 Deals Closed in NCR

In FY2024, 29 land deals totaling 314 acres were closed. Deepinder Goyal, co-founder and CEO of Zomato, purchased a 5 acre parcel in Dera Mandi for ₹79 crore, according to Anarock data. According to Anarock data, other purchasers in Delhi-NCR included real estate developers such as Mumbai-based Godrej Properties, Experion Developers, DLF Homes Developers, and the Prestige Group. According to Anarock statistics, 29 land sales spanning 314 acres were finalized in Delhi-NCR in FY 2024, compared to 23 land deals covering around 273.9 acres in FY 2023.

In Gurugram, 22 transactions totaling 208.22 acres were concluded. These comprised one agreement for educational, residential, and retail purposes, with the remaining 20 acquisitions solely for residential construction in the fiscal year ending March 2024. In Faridabad, a 15-acre residential land purchase was consummated.

Ganga Realty purchased an 8.35-acre property tract in Gurugram’s Sector 84 for ₹132 crore. Experion Developers purchased a 4-acre land parcel on Golf Course Road for ₹400 crore, a 5-acre land parcel in Sector 145 in Noida for ₹250 crore, a 5.5-acre land parcel in Sector 48, Gurugram for ₹550 crore, a 4.5-acre land parcel on Golf Course Road for ₹450 crore, and another land parcel in Sector 53, Gurugram for ₹400 crore, according to data shared by Anarock.

Godrej Properties, a Mumbai-based listed real estate business, purchased a 7.91 acre land parcel on Golf Course Extension Road for ₹900 crore, a 14.8 acre land parcel in Sector 103 Gurugram for ₹403 crore, and a 6.46 acre land parcel in Noida Sector 44 for around ₹500 crore, according to statistics. DLF Homes Developers purchased 29 acres on Golf Course Extension Road in Gurugram for ₹825 crore, while Prestige Group purchased 62.5 acres in Ghaziabad for over ₹400 crore, according to statistics.

Land deals aimed at meeting Delhi-NCR’s demand for housing

“About 26 separate land deals, totaling approximately 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development,” said Santhosh Kumar, Vice Chairman of the Anarock Group. “At least two property purchases totaling more than 7 acres each were planned exclusively for commercial real estate projects. A second transaction comprising roughly 8.61 acres was allocated to an education-related project,” he explained.

Also Read: Goldman Sachs Says Blinkit Is More Valuable Than Zomato’s Food Delivery Business

101 separate land deals sealed in 2023-24 across the country

According to Anarock statistics, real estate developers and companies closed on around 101 unique land deals in fiscal year 2023-24, totaling nearly 2,989 acres across the country.In FY-24, over 83 land sales for over 1,135 acres were finalized in the top seven cities alone, with the remaining 18 deals totaling 1,853 acres closing in tier 2 and 3 cities like as Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.

Goldman Sachs Says Blinkit Is More Valuable Than Zomato’s Food Delivery Business

The meal delivery business of Zomato is no longer worth as much as the implied value of Blinkit, the problematic rapid commerce startup that Zomato purchased in a fire sale in 2022, according to a note released on April 25 by Goldman Sachs analysts.

Everything is looking bright for Blinkit; it went from being an albatross around Zomato’s neck to becoming its largest division. Zomato’s shares fell 20 percent in 2022 after the company revealed its intention to buy Blinkit (formerly Grofers), as investors perceived the move as a rescue. All the same, the corporation remained upbeat and seems to have fulfilled its commitments.

Goldman Sachs analysts state that although Blinkit was purchased by Zomato for $568 million in 2022, its estimated valuation has subsequently increased to an astounding $13 billion due to greater performance. Furthermore, the valuation has increased by more than 6X year over year (YoY).

“We have observed that Blinkit’s implied valuation in our Zomato sum of the parts (SOTP) is approximately $13 billion at present, as opposed to $2 billion in March 2023. Additionally, the note notes that the implied value per share is Rs 119 higher than food delivery, at Rs 98, for the first time.”

Also Read: JioCinema Set to Unveil New Subscription Plan on April 25, Potential Introduction of Charges for IPL

According to a story on April 4, Goldman Sachs’ initial estimate of $8 billion was downgraded to $13 billion for the fast e-commerce delivery player. Goldman Sachs stated that the upgrades were a result of increased gross order value (GOV) forecasts for Blinkit, which are projected to be roughly 50% higher than those from a year ago.

Goldman Sachs predicts that between the fiscal years 2024 and 2027, the fast delivery company’s GOV will likely rise at a compound annual growth rate (CAGR) of 53%. According to the statement, this will also propel Zomato’s adjusted revenue CAGR to 32% on a consolidated basis.

JioCinema Set to Unveil New Subscription Plan on April 25, Potential Introduction of Charges for IPL

One of the most widely used video streaming services, JioCinema, is getting ready to introduce a new subscription option for customers. The business uncovered the new membership in a tweet alongside a mystery video that proposed it would furnish purchasers with a ad free encounter. Will the site begin charging users for the Indian Premier League (IPL) with the debut of this plan? Here’s what we currently know.

A brief video that JioCinema posted on X (formerly Twitter) demonstrates how annoyed viewers are with the constant commercial breaks between videos. Yes, this is accurate. As a result, it is getting ready to provide a brand-new, ad-free membership on April 25. A family plan was also alluded to in one of the adverts.

JioCinema’s Potential Shift: Charging for IPL, Ad-Free Experience Rumored

JioCinema may start charging for IPL viewing because the league matches feature a lot of commercials and the firm is preparing to introduce an ad-free option. People can currently watch the Indian Premier League for free on this platform, but they will also see advertisements. However, as the idea seeks to provide an ad-free subscription, this might alter with the upcoming subscription. As a result, it may be necessary to begin paying for the IPL as well.

Nothing has been formally confirmed as of yet, but in the days to come, we will know for sure. According to rumors, customers may be able to download and view 4K material with the new JioCinema plan.

Also Read: RBI Bars Kotak Mahindra Bank: New Credit Cards, Customers via Online Banking and Mobile Banking Suspended

JioCinema offers two plans at the moment. A yearly subscription costs Rs 999, while a monthly bundle is Rs 99. Even if you are a premium user, these are not completely ad-free even after you have paid for them.