Rising rentals in most Indian cities are making big auto companies tweak their real estate strategy and start investing in own properties — be it for the company headquarters, sales offices, or even dealerships. The country’s largest car maker Maruti Suzuki has already set up a real estate subsidiary that is looking to acquire land… Read More »
Real estate developer DLF has leased about 350,000 sft in its commercial complex at Gurgaon to Samsung India Electronics. Sources say that Samsung India Electronics has leased the space for its India headquarters. The complex has been built at an estimated cost of over Rs 400 crore. ‘Two Horizon Center’ by DLF comprises of 1.1 million… Read More »
Rajeev Talwar, chief executive officer (CEO), DLF Ltd mentioned that DLF would be ready with a special purpose vehicle (SPV) in the next six months. They have signed non-disclosure agreements with 25 global investors. He expects DLF to be the first one to crack REITs. DLF is gearing up to launch REITs worth Rs. 6,000… Read More »
US based PE giant Blackstone, and Bengaluru-based developer-investor RMZ Corp could be the first ones roll out their real estate investment trust (REIT), after the FM cleared the final barrier on DDT (dividend distribution tax) in such bodies. REITs are comparable to mutual funds, and can be listed and traded on stock exchanges. A majority… 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 »
Nagpur: MADC (Maharashtra Airport Development Company) plans to give three more years to companies to start work which have been unsuccessful to do so in past three years. The will be discussed in the next meeting of the company’s board. 81 companies have taken land in Mihan. CM Devendra Fadnavis, who is the chairman of… Read More »
Bengaluru: Piramal Fund Management Pvt. Ltd plans to provide some of the country’s top realty firms an open line of credit to enable them to acquire projects and buy land. Through a new scheme called Piramal Preferred Partners, they have pre-sanctioned a Rs. 15,000 crore funding limit to back about 8-10 developers in Mumbai, Bengaluru,… Read More »
The Carlton Towers, Bengaluru has become one of the city’s cheapest office complexes owing to an accidental fire that claimed nine lives in February six years ago. This tragic fire has left the 7-storey building without takers all these years. Out of 104 units, only 14 are occupied in Carlton Towers now. The Carlton Towers… Read More »
Real estate developer Embassy Group plans to divest 30% in its office business to raise Rs 4,500 crore. Jitu Virwani, Chairman and MD at Embassy Group says that they are already in talks with institutional investors and hoping to close the transaction soon. 80% of the company’s overall revenue is contributed by Office portfolio. They now… 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 »