Saddled with total debt of around Rs 46,000 crore, Air India has written to 16 of its lenders to cut interest rate on its loans by up to 2 percentage points, in line with the reduction in rates in the market. The airline is also in talks with state-owned infrastructure company NBCC and Ministry of… Read More »
When Goldman Sachs opened its wholly owned Bangalore operation in 2004, it was a typical back office. Just under 300 full-time staff supported a front line of revenue-generating bankers worldwide. They worked in limited areas such as information technology, finance and accounting. The group put no cap on Bangalore’s ambitions, says Bunty Bohra, who heads… Read More »
The gross office space take-up in India amounted to 9.3 million sq ft in the first quarter ended in March, up 8% from a year ago. The market also recorded about 2.5 million sq ft of pre-commitments signifying healthy demand, showed a Colliers Research report. Five months on from demonetisation, occupiers’ markets across India’s major… Read More »
Real estate developers are concerned that the implementation of the goods and services tax (GST) may raise the overall cost of properties if the sector comes under the expected 18% tax slab and stamp duty is not subsumed in the new tax structure. The GST Bill was cleared in Parliament’s budget session, paving the way… Read More »
Indian real estate is now becoming way more attractive to investors — both foreign and domestic — than ever before, thanks to changes in regulatory framework. The global capital flow into Indian real estate in 2016 stood at about $5.7 billion. Though the historic high of 2007, in terms of total PE inflows, was not… Read More »
Occupants from information technology sector dominated the office space leasing in 2016 across the country with over 51% of total deals concluded by them, said commercial realty data information and analytic firm Propstack. These deals for grade A office spaces also include transactions of IT-enabled services companies too. “IT companies continued to drive home the… Read More »
Falling footfalls in Bhandup’s Magnet Mall, one of Mumbai’s biggest, has forced its developer to shut down and revamp the 10 lakh sq ft premises into an office-cum-retail complex. Over the past few years, several malls across the country, including Mumbai, have been converted into commercial or residential complexes because of poor business. But market… Read More »
India’s digital payment giant Paytm opened its third office in Bengaluru renting a 150-seat space in a flexible office in Bengaluru as it seeks to expand up presence in the startup capital of India. Paytm is on a head count expansion spree to bring on board 2,000 executives in South India alone to widen its… Read More »
Large companies are seeing sense in employees working out of a co-working space near their homes, as urban commutes are getting longer. Co-working spaces like CoWrks, InstaOffice, 91springboard, Awfis finds that up to 40-50% of their space is now occupied by SMEs and corporates and not just startups. “When you enter a corporate office, you… Read More »
Mumbai accounted for 18 per cent of office space absorption — the second highest in the country— in the first quarter of 2017, said a report from real estate consultancy CBRE. While this was on a par with Bengaluru, the National Capital Region (NCR) ranked first, accounting for 19 per cent of all transactions. According… Read More »