The Reserve Bank is looking for new premises for its office and residential complex in Shimla near the famous Ridge on Mall Road. Currently, the central bank functions from SDA Complex Basement 1, Kasumpti, in Shimla in Himachal Pradesh. RBI has invited expression of interest (EoI) for acquiring land or premises (with or without constructed structure of… Read More »
Only 5% of the 0.3 million square feet of new inventory in mall space is lying vacant in Kolkata. Chief Minister Mamata Banerjee’s calls to set up businesses in the state seem to have started getting responses with commercial space deals clocking a 15-20% rise in number in the last two months. The biggest deal in the… Read More »
We are delighted to announce that Propstack has been chosen to represent Asia Pacific in the MIPIM Proptech summit at New York in Oct 2016. Reed MIDEM and MetaProp NYC have partnered to present the MIPIM PROPTECH SUMMIT, the premier real estate technology event in North America. This summit will convene the leading real estate… Read More »
Software services exporter Tata Consultancy Services (TCS) is close to leasing 780,000 sq ft of office space in IG3 Infra’s Chennai One IT SEZ for 10 years, said two people in the know of the development. TCS will pay a rental of Rs 50 per sq ft per month, taking the total annual payout to… Read More »
IT and ITeS sectors seem to be losing their dominance in office space takeup, with banking, financial services and insurance (BFSI) emerging as a new star. Share of IT/ITeS sector in total office space absorption across major cities reduced to just 24% in the first half of 2016, from 36% in the same period of… Read More »
According to a real estate consultant, first half (H1) of 2016 witnessed the highest annual private equity (PE) investments in retail with over Rs. 3,350 crore being invested, compared to only Rs. 250 million invested in the first half of 2015. This is the highest annual PE investment made since 2008. Owing to factors such… Read More »
Bengaluru-based real estate developer RMZ Corp. is planning to completely move out from the residential business as it sets out on an expansion drive to boost its commercial portfolio across major cities in the country. Backed by Qatar Investment Authority, the company is in the process of rapidly expanding its commercial real estate business as it… Read More »
The State Bank of India has decided to shift its 60-year-old local head office from Lal Darwaza in Ahmedabad to Gujarat International Finance Tec-City (GIFT) in Gandhinagar. On Monday, the foundation stone of SBI’s new office building was laid by CM Vaijay Rupani in presence of SBI chairperson Arundhati Bhattacharya. As part of its move,… Read More »
The Anil Ambani controlled Reliance Infrastructure has filed its papers with securities and exchange board of India (Sebi) last week seeking approval for its trust structure. They are starting the documentation process for its draft red herring prospectus (DRHP) from today and plan to finish it by October end,” said the first person mentioned above,… Read More »
Tata Communications has picked up 60,000 sq ft of office space on lease at Parinee Crescenzo in Mumbai’s Bandra-Kurla Complex, said two persons familiar with the development, making it the largest office space transaction in the alternative business district so far this financial year. “The company has picked up the entire 15th floor in this 20-storey… Read More »