Nitesh Estates develops 20 mn sq ft of area in 8 years

15 Jul 2013 Editorial Team

The Ritz-Carlton Group is all set for an Indian foray and is understood to have tied up with the Bangalore-based real estate developer Nitesh Estates. The joint venture property will also mark Nitesh Estates foray into the development of luxury hotels. Founded in 2004 by Nitesh Shetty, Nitesh Estates is an integrated property development company. In a span of eight years, the company has already bought 20 million sq ft of land, and its projects range from premium residential to commercial spaces, hotels, and retail.

The companys first two projects were A grade office buildings on Bangalores super premium MG Road. A few years later, the company built ITCs largest corporate housing project in India. Foreign Direct Investment has played a huge role in expanding Nitesh Estates into the markets of Goa, Chennai and Kochi.

This includes 450 crore from New York-based Citigroup Property Investors for a special purpose vehicle (SPV) for developing luxury hotels, and 250 crore from the US-based hedge fund Och-Ziff Capital Management group. Some time back, there were reports that New York- based Forum Capital Partners would invest 300 crore for a 49 per cent stake in another SPV floated by Nitesh Estates.

Currently, the company is working on carving out 5 million sq ft of premium residential projects across Bangalore, Chennai and Goa.

Products

19 May 2025

unWOOD transforms plastic waste into durable wood alternative

unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood鈥攚ithout the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. 鈥淎ny application that introduces plastics into areas where it cannot be..

Real Estate

19 May 2025

H盲fele launches Matrix undermount runners range

H盲fele has introduced its new Matrix range of undermount runners, designed to enhance drawer motion across kitchens, wardrobes, bathroom units, and more.Available in four weight capacities and a wide range of lengths, the Matrix undermount runners support diverse drawer designs. The 40 kg and 60 kg variants feature synchronised technology for superior motion and drawer stability. All runners come with an integrated soft-close mechanism to ensure smooth and noiseless operation.This in-house range is ideal for kitchen cabinets, bed storage units, living room furniture and bathroom drawers, offe..

Real Estate

19 May 2025

India's first AI-integrated campus announced in Noida

Yashoda Hospital and Bhutani Infra have announced plans to develop India鈥檚 first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel鈥攁ll operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..