Category Archives: Chennai

Propstack Insights: 3000 crores of Rental Expiries in 2017

3000 Crores (~ $ 0.5 Bn) Annual Rents Expiring Across India in 2017. Approximately 30 msf space of nearly 1600 deals contributing more than 255 crores to monthly rental revenues to expire in 2017. Top 3 CRE Markets -Bangalore, Gurgaon and Mumbai together contribute approximately 73% to the volume of lease expiries in 2017. Bangalore… Read More »

ArthVeda to hit the fund trail to raise $1 billion for affordable housing

ArthVeda Fund Management, part of financial services conglomerate Wadhawan Global Capital, is planning to raise $1 billion to invest in affordable housing projects across the country, said a top company official. The asset management company recently received $250 million commitment from Qatar Holding, part of Qatar sovereign fund, for its affordable, low and middle income… Read More »

Tech giant GE checks into Chennai, to set up 1.7 lakh square office back office on OMR

Chennai is witnessing shortage of quality office space. Notwithstanding this, office space absorption levels in the city rose to 5.25 million sft in 2016, from 5 million sft in 2015. Engineering and technology giant GE is setting up shop in Chennai. The Fairfield-Connecticut headquartered company will set up a back office and processing centre across 1.7… Read More »

Piramal Fund invests Rs 10,000 crore in South India

The booming real estate market in Bangalore, Chennai and Hyderabad had been attractive for developers for quite some time and Khushru Jijina, MD, Piramal Fund Management tells us that home grown developers in Bangalore, Chennai and Hyderabad are their strongest partners. Piramal Fund Management Pvt Ltd (PFM). funding arm of the Piramal Group on Tuesday… Read More »

Piramal Fund’s south India investments surpass Rs 10,000 cr

Piramal Group’s financial services arm Primal Fund Management (PFM) has surpassed Rs 10,000 crore in aggregate investments in South India, the company’s proprietary book stated. This forms one third of the firm’s commitment to clearing Rs 32,000 crore debt and equity to real estate developers across India. According to Piramal, the Rs 10,000 crore milestone… Read More »

Rents of office spaces rise in Chennai

Shortage in supply of office space has resulted in reduced absorption and higher real estate rentals in Chennai. For the period from January to September this year, deals for nearly 3.3 million square feet have been signed, down from 3.7 million a year ago. Rentals have, however, shot up by nearly 10% year-on-year. Chennai’s real estate… Read More »