The commercial real estate sector is witnessing increased interest from private equity funds, with several large institutions focusing on completed and leased commercial assets for investment. In 2015, private equity real estate firms deployed more than $5 billion in Indian real estate companies and projects -the highest since the financial crisis of 2008 -through 90 deals,… Read More »
Apple is in talks to lease over 40,000 square feet of office space in Bengaluru where it intends to set up a development centre, three people familiar with the development said. “The company has signed the letter of intent with Galleria, a mixed use project in Yelahanka in Bengaluru,” one of these people said. Galleria is… Read More »
The Indore Development Authority (IDA) is planning to take possession of land near Navlakha bus stand from the Indore Municipal Corporation (IMC) in order to raise funds for its projects by leasing it out. The land near Navlakha bus stand was cleared from encroachments last year by the civic body. The IDA board members had asked… Read More »
Godrej Properties is aiming to launch 15 new projects, including one in Noida, and sell its completed commercial assets worth Rs 1,500 crore during this fiscal as the realty firm seeks to achieve higher growth. Godrej Properties achieved a record sales bookings of Rs 5,038 crore in 2015-16 fiscal, up 88 per cent from previous year,… Read More »
The Chinese delegation comprising government firms that are into construction business had visited Surat last year and claimed that they could construct this fully environment-friendly skyscraper in very short time using pre-fabricated technology. SMC officials said that they are checking the feasibility for this project on the 22,000 sq m land on the Ring Road where… Read More »
Having failed once to sell the Kingfisher House for recovering their loans, banks have begun a fresh valuation process for auctioning the headquarters of the Vijay Mallya’s long defunct Kingfisher Airlines. “A revaluation process has begun and will be over by the next week. The property will put on the block again at the earliest,” a… Read More »
Bullish on the rising demand for commercial real estate, Mumbai-based developer K Raheja Corp. is planning to invest around Rs.2,000 crore in acquiring land and building 6 million sq. ft of commercial space in the next two-and-a-half years in Navi Mumbai. The company currently operates three information technology (IT) parks in Navi Mumbai under the brand… Read More »
Realty firms K Raheja Corp and Gera Developments have partnered to construct an IT-SEZ in Pune at an investment of about Rs 1,000 crore over the next four years. Property consultant JLL India has facilitated the deal between the Mumbai-based K Raheja Corp and Pune’s Gera Developments for the development and operation of the prime 30-acre… Read More »
After MADC issued show cause notices for termination to 23 investors in Mihan-SEZ, nine companies have expressed inability to go ahead with their plans and have demanded their money paid for buying land back. All except L&T Infocity which has 50 acres of land have small-size projects having taken up 1 to 3 acres of… Read More »
Embassy Group has partially acquired a stalled SEZ project in Chennai from SNP Infrastructure for an undisclosed amount, two people aware of the development said. The 26-acre property on Thoraipakkam-Pallavaram road is close to the airport. Land on Pallavaram road costs about Rs 20 crore per acre. “The special economic zone project was shelved in 2008… Read More »
