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 »
If demand for office spaces for both consolidation and expansion of businesses is seeing consistent growth over the last few quarters, could a pickup in home sales be far behind? Office leasing saw a record level of 36 million sq ft in 2015 and leasing activity has remained strong in 2016 so far. While earlier we… Read More »
The introduction of India’s new accounting standards Ind-AS to REITs or InvITs or their underlying special purpose vehicles, sponsors or asset management companies could have quite a significant impact on their financial statements, says a new report. Ind-AS is likely to change how sponsors and asset managers assess REITs or InvITs for consolidation as well as… Read More »
The country may soon get its very first Infrastructure Investment Trusts (InvITs), with the markets regulator Sebi approving two of the four applications received by it for setting up such entities. “We have received four applications for registration in InvITs so far. We have already cleared two of them,” Sebi chairman U K Sinha said here… Read More »
A rise in demand for office spaces in the last one year coupled with shortage of new supply in key mi cro-markets has pushed up office rentals across top markets. Rentals in Gurgaon’s rose 13% in the last one ye Cyber City area rose 13% in the last one year while those in Bengaluru’s Whitefield and… Read More »
Apple is in talks to lease over 40,000 square feet of office space in Bengaluru where it intends to set up a development centre, three people familiar with the development said. “The company has signed the letter of intent with Galleria, a mixed use project in Yelahanka in Bengaluru,” one of these people said. Galleria is… Read More »
Top Indian cities have seen a significant rise in large office space transactions with companies across sectors expanding and consolidation operations, kindling hopes of a revival in an otherwise lacklustre real estate industry. India’s top six property markets reported 236 transactions for large office spaces — of at least 25,000 square feet and up to… Read More »
There may be valid political and sociological reasons for increasing the Floor Area Ratio (FAR) in HUDA’s colonies in Haryana’s new emerging towns, but only a blind leap of faith can justify the conclusion that this move will help pull the property market out of recession. Logic indicates otherwise. FAR is the ratio of a building’s… Read More »
The new airport at Kishangarh, which is being developed to cater to the historical city of Ajmer, is likely to be operationalised by July next year for which airlines have evinced interest to operate flights from Mumbai and Delhi. Located in the biggest marble market of Kishangarh, the airport building’s construction work is most likely… Read More »
The Indore Development Authority (IDA) is planning to take possession of land near Navlakha bus stand from the Indore Municipal Corporation (IMC) in order to raise funds for its projects by leasing it out. The land near Navlakha bus stand was cleared from encroachments last year by the civic body. The IDA board members had asked… Read More »