Property developer Century Real Estate has got about Rs 520 crore in a mix of structured debt and construction finance from Piramal Fund Management, the real estate investment arm of Ajay Piramal Group, according to sources familiar with the matter. This is the second fund raise by the company from Piramal, in less than a year.… Read More »
Chennai’s four-lakh employee-strong IT and ITeS ecosystem is losing the race – albeit momentarily – to manufacturing and consulting firms that are briskly occupying office spaces during the first half of the current calendar year. Companies such as Renault Nissan, Ford, and other auto-component and ancillary firms and consulting firms like EY took lakhs of sq… Read More »
If one looks at the trends of Real Estate in the past five years, no city has inspired such commercial property demand as Bengaluru. So much so, the demand today is more than the supply. Its reputation as the Silicon Valley of India remains intact with a number of tech giants as well as emerging… Read More »
Delhi-NCR has recorded 39 per cent increase in net office space absorption at 2.4 million sq ft in the first half of this year on the back of a few large-sized leasing transactions, according to a property consultant.Net leasing of office space stood at 1.7 million sq ft in January-June of 2015. The increase in… Read More »
Chennai is facing a dearth of quality large format office space which could force information technology as well IT-enabled service (ITeS) companies to look to neighbouring States, according to a study by a London-based global property consultancy firm. Kanchana Krishnan, director of the Chennai branch of the firm, said that the shortage of office space is… Read More »
Space rented by e-commerce players in Bengaluru fell a steep 95% to 1,40,000 sq ft in the first half of 2016 over the same period last year. Just four transactions were reported with online travel portal MakeMyTrip and online bus tickets platform redBus being the two companies that leased out office space, according to a… Read More »
Commercial space rentals are on a gradual rise in Kolkata, thanks to a 20% spurt in transactions in the last two quarters. The average deal size remained low at 7,500 sq ft in the upcoming business locations and industry experts predict a 5-10% surge in rentals in the next six months at prime locations such as… Read More »
At a time when the city is facing a shortfall in its supply of commercial space, BMRCL (Bangalore Metro Rail Corporation Limited) has started advertising for leasing out spaces at the stations. Chief public relation officer BMRCL, UA Vasanth Rao, while speaking to Bangalore Mirror said, ‘This is a futuristic plan that has been envisaged by… Read More »
Lenders of Kingfisher Airlines have one again put on block Kingfisher House seeking at least Rs 135 crore. Last time, when banks attempted to sell the headquarters of the defunct airlines, at a reserve price of Rs 150 crore, it did not receive a single bid. Kingfisher owes Rs 7000 crore to lenders. Lenders have fixed August… Read More »
Real estate in many parts of the country is in bad shape. But there’s one big exception – commercial space in Bengaluru. A surge in demand, including from MNCs looking to establish or expand R&D and engineering centres, has left developers scrambling to supply quality office space in time. Some say rental costs in certain areas… Read More »
