DLF Ltd’s much-anticipated stake sale in its rental portfolio could help India’s most valuable property developer reduce the debt on its books although analysts say its turnaround will only be complete when demand returns to the moribund residential real estate market. The stake sale aims to raise about Rs.12,000 crore with the promoters selling 40% in… Read More »
India’s largest real estate firm DLF is expecting to receive expressions of interest from prospective investors for the sale of its promoters’ 40% stake in the company’s rental arm DLF Cyber City Developers (DCCDL) over the next two weeks. It plans to finalise the buyer over the next two months and close the transaction latest… Read More »
The Gurgaon administration has proposed to slash circle rates of properties by 15% this year to help revive a slumbering real estate market that is in the grip of a prolonged downturn. If the Haryana government approves the proposal, it will be the first time in recent history that Gurgaon, a premium real estate market, will… Read More »
Robust demand from occupiers and limited supply of grade A offices have continued to push rentals in prime Indian office space markets including Mumbai’s Bandra-Kurla Complex, Connaught Place in New Delhi and Bengaluru’s MG Road. In terms of rental growth, Connaught Place with 10% year-on-year rise is second only to Hong Kong, followed by Tokyo… Read More »
In what is seen as a boost to commercial real estate, which is currently in bad shape, the revised draft of the development plan (DP) has proposed an FSI of 5 for office spaces in Mumbai. According to the revised DP, any plot in commercial, residential or industrial zones, measuring more than 3,000 sqm, can avail… Read More »
Infrastructures developers such as IRB, GMR and IL&FS are keen to launch their infrastructure investment trusts after Sebi announced guidelines last week, but may hold their plans for more clarity on disclosure and accounting norms. An infrastructure investment trust (InvITs) offers an opportunity to promoters of projects to sell their stake in completed projects to the… Read More »
Indian commercial real estate offers investment opportunity worth $43 – $54 billion across the top 8 cities including Mumbai, Delhi-National Capital Region, Bengaluru and Pune through REIT-eligible ready stocks, said a report by RICS and Cushman & Wakefield. Further, it is estimated that approximately 315 million sq ft of office inventory is eligible for REIT across… Read More »
The commercial real estate sector is witnessing increased interest from private equity funds, with several large institutions focusing on completed and leased commercial assets for investment. In 2015, private equity real estate firms deployed more than $5 billion in Indian real estate companies and projects -the highest since the financial crisis of 2008 -through 90 deals,… Read More »
A survey by a real estate services firm says the average age of top-end office spaces in Mumbai and Delhi is 11 years — at par with Singapore. According to the survey, Beijing and Shanghai have the newest office stock in the Asia-Pacific region, with an average age of eight years, while Hong Kong has… Read More »
In 2014, Ceejay House, located in Mumbai’s Worli area and having a gorgeous view of the Arabian Sea, had virtually no space to lease out. But in the past one year, a fourth of the building is understood to be vacant, with several tenants having moved out. At the peak of the real estate boom in… Read More »