Waking up to the dangers of illegal structures, particularly after the building collapse at Nanakramguda that killed 11 people in December, the municipal administration department has decided to amend laws to make it tougher for people to register properties. The new law will ensure a builder or developer cannot sell flats or plots to people… Read More »
Strengthening business confidences resulted in net absorption of office space across the top eight cities to 34 million square feet (msf) during 2016, according to an international property consultant Cushman & Wakefield. Of the total uptake of office space, nearly 40% of the total net absorption took place in the last quarter of 2016. Bengaluru… Read More »
While 2016 was a good year for Hyderabad’s commercial leasing sector, with offices furiously picking up a whopping 6 million square feet along the city’s IT belt, this year will be no different, says the latest report published by CIRIL, a country-wide real estate network. According to the report, Hyderabad stands ahead of cities like… Read More »
Demand for office space in Hyderabad outpaced supply in 2016, surging to the highest level since 2011 as large multinational firms expanded their presence in the city. According to a property consultancy firm, about 5.6 million sq ft of office space was leased in the city during the year, up 37% from a year ago.… Read More »
In an indication of the city’s growing clout as a major IT hotspot in the country, Hyderabad has seen a record absorption of 6 million square foot of office space by the IT industry alone in 2016, Telangana IT secretary Jayesh Ranjan said here on Wednesday. “In terms of growth there is one indicator that… Read More »
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 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 »
The capital region of Andhra Pradesh is faced with severe shortage of office accommodation. As many as 40 corporate houses and IT companies have been unsuccessfully scouting for office accommodation for the last one year in Vijayawada and surrounding areas. Even Visakhapatnam city does not have sufficient space to house private offices. About 30 IT companies… Read More »
Hyderabad’s office market remained resilient with about 5.0 million sq. ft. office space absorption till the third quarter, which is about 79% more than the same period last year, said a property consultant in their quarterly report. Healthy demand from occupiers in Information Technology and Information Technology Enabled Services (IT-ITeS) segment took the gross leasing volume… Read More »
Cerestra Advisors Ltd, a real estate-focused private equity firm, has bought Alexandria Knowledge Park at Genome Valley in Hyderabad for Rs 400 crore as it plans to build an office portfolio focused on R&D clients. Alexandria Knowledge Park, which counts tenants such as Swiss pharmaceutical giant Novartis, was previously owned by New York-based Alexandria Real… Read More »
