The commerce ministry is examining a proposal to declare an international finance centre (IFC) in Mumbai’s Bandra Kurla Centre (BKC), BJP MP and member of Maharashtra task force Poonam Mahajan said. A decision will be taken in six to eight months and India could well end up with two IFCs in neighbouring states as Maharashtra… Read More »
Distressed office assets are emerging across cities, throwing up opportunities for large developers backed by private equity (PE) funds to buy into incomplete or stalled office projects, special development enclaves or undeveloped land, a trend that has played out in the residential sector in recent years. Bengaluru-based Embassy Group is buying out a 60% stake in… Read More »
The government has approved the proposal of Infosys to set up an IT/ITeS special economic zone in Bengaluru in an area spread over 4 hectares. The decision was taken by an inter-ministerial Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its meeting on April 28. “The Board noted that the developer is in possession… 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 »
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 »
TCS and Wipro praised FM Arun Jaitley on Monday for Digital India plans and extending tax benefit to export units under SEZ scheme till 2020 in his budget for 2016-17. Tata Consultancy Services (TCS) chief executive N. Chandrasekaran commented that FM has delivered a fiscally responsible budget. He gave it a rating of 8/10. Jaitley presented that the benefit of section 10AA… Read More »
