The 3rd PropertyGuru Asia Property Awards (India) programme honours diverse real estate companies, projects

Thailand, 09 December 2022


  • Casagrand Builder Pvt. Ltd. is hailed Best Lifestyle Developer while Embassy REIT wins eight titles, including Best Operational Office Portfolio, plus a regional award at the Grand Final
  • Award-winning projects include Piramal Aranya by Piramal Realty and The Waterfall – P’residential by Armaan Infrastructure
  • Sahil Vachani, CEO and managing director of Max Estates Limited, is inaugural recipient of the India Real Estate Personality of the Year award

BANGKOK, Thailand — 9 December 2022

The winners of the 3rd Annual PropertyGuru Asia Property Awards (India) were unveiled today in an exclusive luncheon and presentation at The Athenee Hotel, a Luxury Collection Hotel, Bangkok.

The 2022 edition of the Awards in India is one of the programme’s most diverse yet, with 15 titles presented to various recipients that include one of the country’s most prolific real estate investment trusts.

Casagrand Builder Pvt. Ltd. received the never-before-presented title of Best Lifestyle Developer. The Chennai-based real estate enterprise impressed judges with its gated community and apartment developments, many of which feature outstanding lifestyle amenities.

Embassy REIT won all eight of its nominations, including the never-before-presented Best Operational Office Portfolio award. Embassy Manyata Front Parcel Development and Embassy TechVillage Parcel 8 won the Best Mixed Use Development and Best Integrated Development awards, respectively. The company also won titles for Embassy Manyata Flyover; Embassy Manyata – Refurbishment of Block K; Embassy Oxygen, Tower-1; Embassy TechVillage – Central Garden; and Hudson & Ganges Office Towers, Embassy TechZone.

Embassy TechVillage – Central Garden went on to win the Best Commercial Landscape Architectural Design (Asia) award at the 17th PropertyGuru Asia Property Awards Grand Final, also held 9 December in Bangkok. The Grand Final drew awardees from various countries, representing top winners from PropertyGuru Asia Property Awards’ series of in-person and virtual gala celebrations across the region.

Piramal Aranya by Piramal Realty won the coveted honour of Best Condo Development (India) as well as the Best Condo/Apartment Development award. Armaan Infrastructure won Best Luxury Condo/Apartment Development for The Waterfall – P’residential.

Sunteck Realty Limited, named Best Developer (Mumbai) last year, garnered the Best Waterview Condo/Apartment Development award for Sunteck Beach Residences (SBR) while Trifecta Projects Private Limited gained the Best Housing Development honour for Trifecta Verde En Resplandor.

Sahil Vachani, CEO and managing director of Max Estates Limited, was inaugurated as the first recipient of the India Real Estate Personality of the Year award. The editors of Property Report by PropertyGuru, the official magazine of the Awards, selected Vachani for showing leadership in the commercial space and transforming Max Estates Limited into a full-fledged real estate company.

Vachani said: “I’m humbled to receive the Real Estate Personality of the Year Award, and I would like to thank the entire team at PropertyGuru Asia Property Awards (India) and PropertyGuru Group for honouring me with this award. I must commend the entire team for organising a magnificent event, which would not have been possible without great time, dedication, and effort. I’d like to dedicate this award to my team at Max Estates where we continually strive to deliver on our purpose to enhance the quality of lives through the spaces that we create.”

Hari V. Krishnan, CEO and managing director of PropertyGuru Group, said: “We celebrate the third edition of our Awards in India with a renewed sense of optimism in the country. These award-winning residential, commercial and infrastructural projects show an ever-improving quality of real estate in India and a preparedness to serve its vast, fast-growing housing market. Congratulations to all the award recipients in India!”

The list of winners was rigorously selected by an independent panel of judges consisting of Amit Khanna, chairperson of the Awards and managing director, Phoenix Advisers; Ajai A Kapoor, CEO, 360 degrees – Real Estate Services; Avinash Khater, founder and chairman of The Real Estate Kings (TREK); Jitender Girdhar, FRICS, FAIQS, co-founder and director, Qonqests Technical Solutions and VDC Technologies; Madhav Raman, co-founder, Anagram Architects; Mallika Desai Thakker, co-founder and creative head at Vibe Design Lab; and Shradha Mithal, managing director, Resettle Destination Services.

HLB is the official supervisor of the PropertyGuru Asia Property Awards. In India, the judging is supervised by S.S Kothari Mehta & Co., a member firm of HLB International, under the leadership of Surabhi Bansal and Atul Chopra.

Organised by PropertyGuru Group (NYSE: PGRU), the 3rd PropertyGuru Asia Property Awards (India) programme is supported by official portal partner; official magazine Property Report by PropertyGuru; official PR partner FleishmanHillard; media partner The Hindu; supporting association IFC – Excellence in Design for Greater Efficiencies; and official supervisor HLB.

For more information, email [email protected] or visit the official website:



3rd PropertyGuru Asia Property Awards (India)


Best Lifestyle Developer

WINNER: Casagrand Builder Pvt. Ltd.



Best Luxury Condo/Apartment Development

WINNER: The Waterfall – P’residential by Armaan Infrastructure

Best Condo/Apartment Development

WINNER: Piramal Aranya by Piramal Realty

Best Waterview Condo/Apartment Development

WINNER: Sunteck Beach Residences (SBR) by Sunteck Realty Limited

Best Housing Development

WINNER: Trifecta Verde En Resplandor by Trifecta Projects Private Limited

Best Mixed Use Development

WINNER: Embassy Manyata Front Parcel Development by Embassy REIT

Best Integrated Development

WINNER: Embassy TechVillage Parcel 8 by Embassy REIT

Best Office Development

WINNER: Hudson & Ganges Office Towers, Embassy TechZone by Embassy REIT

Best Connectivity Infrastructure Development

WINNER: Embassy Manyata Flyover by Embassy REIT

Best Renovated Development

WINNER: Embassy Manyata – Refurbishment of Block K by Embassy REIT



Best Operational Office Portfolio




Best Office Architectural Design

WINNER: Embassy Oxygen, Tower-1 by Embassy REIT

Best Commercial Landscape Architectural Design       

WINNER: Embassy TechVillage – Central Garden by Embassy REIT



Best Condo Development (India)

WINNER: Piramal Aranya by Piramal Realty



India Real Estate Personality of the Year Award

WINNER: Sahil Vachani, CEO and Managing Director, Max Estates Limited




NOTE: Use of the PropertyGuru Asia Property Awards (India) logo is limited to the publication of this article only.



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PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair and transparent. 

In 2022, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2022. 

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PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 44 million property seekers7 to find their dream home, every month. PropertyGuru empowers property seekers with more than 3.5 million real estate listings8, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam. was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio of leading property marketplaces across its core markets; award-winning mobile apps; mortgage marketplace, PropertyGuru Finance; and a host of enterprise solutions now under PropertyGuru For Business, including a high-quality developer sales enablement platform, FastKeyDataSenseValueNetAwards, events and publications across Asia.


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1 Based on SimilarWeb data between April 2022 and September 2022.

The third quarter and first nine months ended September 30, 2022 includes results of the iProperty Malaysia and thinkofliving businesses which were acquired on August 3, 2021. 

3 Included in the S$13.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2022 was a S$4.9 million depreciation and amortization expense.

4 Included in the S$8.2 million of adjustments between net loss and Adjusted EBITDA in the third quarter of 2021 were a S$3.9 million depreciation and amortization expense and a S$3.0 million net finance expense.

5 Based on SimilarWeb data between April 2022 and September 2022.

Does not include impact of Sendhelper acquisition in October 2022.

Based on Google Analytics data between April 2022 and September 2022.

Based on data between April 2022 and September 2022.

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