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 »
Piramal Fund Management Pvt. Ltd, the investment arm of Piramal Group, will start funding commercial office projects. It is one of the largest lenders and investors in residential real estate and already has a loan book and equity investments worth Rs.22,000 crore in the residential space alone, plans to deploy another Rs.5,000 crore in commercial office… Read More »
Kingfisher House is to be auctioned on March 17, 2015 to retrieve part of Rs 6,963 Cr loans due from the non-operational airline. Creditors have set a reserve price of Rs 150 Cr. The 2,401-square-metre property was taken under possession by SBICAP Trustee Company in February 2015. The e-auction will be held under the SARFAESI… Read More »
Unnati Fortune Group, a Noida based real estate firm has awarded a contract of Rs 150 crore to Jindal Steel & Power Limited (JSPL). This is for the construction of a retail-cum-office tower in Noida’s sector-144 which is a part of the 25-acre land parcel owned by Unnati World project in Noida. The project has been planned and… 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 »
Bengaluru based RMZ Corp, one of the leading commercial real estate developers in India, is discussing with pension and sovereign funds to raise $500 million for its expansion plans. Arshdeep Sethi, MD of RMZ Corp says that they will use the money to double their portfolio and buy office assets across major markets in India.… 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 »
New York-based Blackstone Group is in advanced discussions with Salarpuria Sattva Group to invest about Rs 450 crore in its upcoming, 30-acre commercial property in Hyderabad, three individuals aware about the development said. One of them mentioned that this would be a pure equity deal and is expected to be settled in the next few… Read More »
Mumbai based Phoenix Mills Ltd has taken over the full equity and management control of three properties run under a partnership from the Upal group, its JV partner. President-West, Phoenix Mills Ltd, Rajendra Kalkar said that 15-20 new stores would be added to each of the malls in Lucknow and Bareilly, with many of them… Read More »
CIDCO, sold total 8 land parcels in Navi Mumbai in an auction for total Rs 256 crore on Thursday, said two people familiar with the development. City and Industrial Development Corporation of Maharashtra Ltd (CIDCO), which is Navi Mumbai’s development authority auctioned a commercial plot in CBD Belapur and seven residential-cum-commercial usage plots at Nerul.… Read More »
