A government resolution, issued last month, has substantially broadened the definition of IT by including a whole new gamut of services that can now be allowed in an IT park such as back offices of “travel and tourism facilitation, TV entertainment channels and sports and travel channels”. The government has also increased the floor space… Read More »
Mahindra World City Developers, an arm of Mahindra Lifespace Developers, is planning to build a 300-acre industrial park in Gujarat and has got all the government approvals for it. This will be the second industrial park by the company after it built the 650 acre industrial park in north Chennai in collaboration with Japan’s Sumitomo Corporation. “We… Read More »
According to a survey by property consultancy CBRE, India remains a top expansion destination for corporate real estate occupiers, along with South East Asia and China. It also points out that cost management and employee engagement are key issues for multinational corporations today. “Asia Pacific remains a key growth market for multinational companies but the… Read More »
Real Estate Investment Trusts (REITs) are likely to become a reality in India soon, with the removal of Dividend Distribution Tax. This move is expected to offer commercial developers a liquidity option and retail investors an opportunity to participate in office realty market’s growth. As of now, the dividend distribution tax (DDT) was chargeable at… Read More »
Nagpur: MADC (Maharashtra Airport Development Company) plans to give three more years to companies to start work which have been unsuccessful to do so in past three years. The will be discussed in the next meeting of the company’s board. 81 companies have taken land in Mihan. CM Devendra Fadnavis, who is the chairman of… Read More »
The share of ecommerce firms taking up office space in the leading cities rose from 2% in 2014 to 6% last year, CBRE said. Currently, Bengaluru leads in rentals and leases by ecommerce companies, followed by Gurgaon and Mumbai, according to CBRE. Startup companies like Flipkart, Snapdeal have consolidated their operations into single office to… Read More »
The Gujarat High Court issued notice to GIFT city, coming up in Gandhinagar on a public interest litigation (PIL) alleging administrative and financial irregularities. The petition was registered on December 18, 2015. The division bench of Chief Justice R Subhash Reddy and Justice Anant S Dave have kept the further hearing on March 15. Petitioner… Read More »
Rents and capital values for prime offices are expected to grow more rapidly in 2016, according to the study by the Royal Institution of Chartered Surveyors (RICS), a standards setting body for the real estate and construction sectors. “Office demand for the last several quarters has been improving and is expected to continue in the… Read More »
While vacancy levels in commercial establishments are set to grow from current 8%, that for malls is at 30% despite an uptake in leasing activity led by IT, BFSI and consulting sector in Ahmedabad real estate market, a report by CIRIL Network says. The office space market in Ahmedabad had total absorption of around 0.75 million sq… Read More »
According to real estate services firm CBRE, there is a 10% increase in rentals for commercial space over the past one year. The top five micro markets that saw increase in rentals are Cybercity in National Capital Region, Koramangla in Bengaluru, Andheri East and Goregaon in Mumbai and Kukatpally, Manikonda in Hyderabad. The cities that led… Read More »
