India will soon have its first startup district with incubation centers and about 20 tinkering labs for schools aimed at encouraging the creation of innovative solutions in agriculture, health and education. Commerce & industry minister Nirmala Sitharaman, who is a Rajya Sabha MP from Karnataka, is keen for the entire cluster to be developed in… Read More »
Real estate and infrastructure companies, already struggling with thin profit margins, could see a substantial fall in profits and a significant rise in tax liability next year due to the `thin capitalisation’ concept unveiled in the Union Budget for 2017-18. The new rule will not allow companies to claim tax deduction for interest paid on… Read More »
Three months back, if someone would have recommended real estate stocks, you would have thought he must be joking. After the demonetisation drive in November, the real estate sector was left in the ruins as the worst casualty of the cash ban. But you will be in for surprise if I tell you that the… Read More »
Highrises in Noida, Greater Noida and Yamuna expressway are likely to adopt better fire safety measures as a draft proposal to suggest amendments in the building bylaws of the three development authorites has been given to a high-power committee. On Monday, CEO of Noida & Greater Noida authorities, Deepak Agarwal, held a meeting with the… Read More »
Waking up to the dangers of illegal structures, particularly after the building collapse at Nanakramguda that killed 11 people in December, the municipal administration department has decided to amend laws to make it tougher for people to register properties. The new law will ensure a builder or developer cannot sell flats or plots to people… Read More »
The Centre has warned states of a serious situation of vacuum arising if necessary institutional mechanisms for the real estate regulatory Act were not put in place before the deadline of May 1 this year. In a two-page letter to all the chief ministers of states on February 9, minister of housing & urban poverty… Read More »
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 »
Indiabulls Asset Management Co. Ltd is launching its first commercial asset fund and plans to raise up to Rs1,500 crore from mainly domestic investors, said a fund executive. Dual Advantage Commercial Assets Fund is an alternative investment fund (AIF) and will invest in buying out office properties that generate regular stable rental income with capital… 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 »
