GIC of Singapore is set to enter into exclusive bilateral negotiations with KP Singh and his family, the promoters of India’s largest real estate firm DLF Limited, to acquire their 40% stake in DLF Cyber City Developers Limited (DCCDL), the company that owns a portfolio of leased commercial assets, including the entire Cyber City complex… Read More »
GVK-led Mumbai International Airport (MIAL) has won the bid for the Navi Mumbai international airport, edging out rival GMR Group. GVK, which runs the Mumbai and Bengaluru airports, offered 12.6% in revenue share to the project implementing authority, the City and Industrial Development Corporation (Cidco) of Maharashtra. The contract would be awarded to the company… Read More »
Coworking space provider Innov8 has raised an undisclosed amount in an angel round enabled by LetsVenture and Venture Catalysts. The round saw investments by prominent angel investors such as Vijay Shekhar Sharma of Paytm, Rajan Anandan of Google, Kunal Shah of FreeCharge, Girish Mathrubootham of Freshdesk and Anand Chandrasekeran of Facebook. The Delhi-based company plans… Read More »
Mumbai office sale registrations contracted on a quarterly basis since the beginning of 2016 to the lowest in the last quarter. The registrations dipped to nearly 1/3rd of the Q1 levels in Q4 – the quarter of demonetization. Both no. of registrations and transaction volume dipped by 55-60% in Year-on-Year (Y-o-Y) comparisons for Q4 ’16. Even… Read More »
The Indian arm of US-based Cognizant Technology Solutions has renewed the lease on its office space in the Blackstone Group-owned IT park in Pune, said two people familiar with the development. The deal is the first major office space transaction this year. Following the renewal of the lease of 2.6 lakh square feet of office… Read More »
Real estate companies, both residential and commercial, expect the sector to grow significantly after the Real Estate (Regulation and Development) Act (RERA) takes effect. Under the Act, the sector is expected to become more organised, making it attractive for foreign investors to come in. For one, the Act makes it mandatory for all projects to… Read More »
Oneco.Work is an office space provider for entrepreneurs and startups. It offers premium co-working office spaces and essential back-end services, with a broad range of facilities that meet the requirements of startups of all scales and sizes.Its mission is to enable entrepreneurs to scale their businesses with alacrity by offering them a conducive work environment. Oneco.Work… Read More »
Work on a Dubai-owned IT park in Kerala in south India is ploughing ahead, despite the severe uncertainty and challenges that India’s IT sector is facing, according to a top executive behind the project. Development of the next phase of SmartCity Kochi, one year after its opening, is under way, with new offices due to… Read More »
The Real Estate Regulatory Authority (RERA) will start functioning in Madhya Pradesh from May and property buyers can approach the authority to get their grievances addressed. RERA has been constituted in state and a final shape is being given before it starts taking up the grievances. Under the RERA, details of entire commercial and residential… Read More »
The Indian real estate sector has been lucrative for savvy investors over the last decade, but it has not been without accompanying uncertainties. The introduction of real estate investment trusts (REITs), will provide a platform that will allow all kinds of investors (even those with smaller budgets) to make safe and rewarding investments in the… Read More »
