Pune’s commercial real estate market has recorded an optimistic start to the year 2017 with rising number of transactions. Pune has witnessed 23% year-on-year growth in leasing volume during the months of January and February, said commercial realty data information and analytic firm Propstack. Pune has also recorded 26% year-on-year rise in number of lease… Read More »
In one of the biggest front office transactions so far this year, consumer durable major Samsung India Electronics has leased 1.10 lakh sq ft office space in Oberoi Realty’s commercial complex Commerz II in Goregaon suburb of Mumbai, said two persons familiar with the development. The company will be paying rentals of Rs 145 per… Read More »
Pune recorded increase in leasing and no. of deals in Jan-Feb’17 compared to Jan-Feb’16. Higher number of deals in suburban locations and increase in rates for furnished spaces drove average transacted rentals upwards. Vacancy levels declined during the same period.
Large property investors are scrambling to buy commercial towers where tenants have moved in, driving up the capital value of these buildings. However, with rentals failing to catch up, returns from these investments have fallen, real estate brokers and advisors said. Stiff competition among sovereign wealth funds and large private equity funds for scarce assets… Read More »
Housing department officials have said that Maharashtra will follow the Centre’s Real Estate (Regulation and Development) Act, 2016, and is planning to publish the final rules this month so that the legislation can be implemented from May 1. The officials said the file for publishing the rules is in the final stages of approval. “There… Read More »
The proposed implementation of Goods & Services Tax will not increase prices of real estate, especially of affordable housing, said M. Venkaiah Naidu, Minister for Urban Development, Housing and Poverty Alleviation. “GST will not increase prices, especially not for affordable housing. We have already exempt affordable housing from service tax, and my ministry is addressing… Read More »
Dubai-based developer Emaar Properties PJSC said on Sunday that it has hired a new chief executive to head development.”John Carfi has joined Emaar Properties as CEO of Development,” a company spokesperson told Zawya Projects in an email. Carfi joins Emaar from Australian property group Mirvac, where he was head of residential. Mirvac said in a… Read More »
The Mumbai Metropolitan Region Development Authority’s (MMRDA) long-pending plan to develop Wadala on the lines of Bandra-Kurla Complex (BKC) is finally gaining momentum. After over three years of wait, the draft for the Wadala Master plan is now ready and awaiting deliberations by the internal committee. “The Wadala Master plan draft is ready, but some… Read More »
The proposed 9.89-km Bandra-Versova sea link has got an environmental clearance.Though the clearance was given last October before the term of the state environment impact assessment authority (SEIAA) expired, it was issued only in February.The issuance was delayed as the Maharashtra State Road Development Corporation (MSRDC) had not fulfilled all requirements.“Now that MSRDC has complied… Read More »
In a bid to boost regional air connectivity, the Cabinet Committee on Economic Affairs (CCEA) has approved the revival of 50 unserved or underserved airports at a cost of Rs 4,500 crore over a period of three years starting FY-18. Separately, in a meeting on Monday evening, the union cabinet approved India’s accession to the… Read More »
