The auction of the Dunlop-owned Mumbai property may not be a cakewalk following a number of litigations and the West Bengal government’s takeover of Dunlop India in February. Though ICICI Bank, which is auctioning the property, has got a clearance from the Supreme Court, litigations and takeover may play a spoilsport, feel property consultants. The bank… Read More »
Starting next month, the Greater Hyderabad Municipal Corporation (GHMC) will begin enforcing the Energy Conservation Building Code (ECBC) to ensure efficient use of power. The implementation of the code will begin with the granting of permissions to 25 new buildings – both government and private commercial complexes. The move comes at a time when the GHMC… Read More »
Godrej Properties is aiming to launch 15 new projects, including one in Noida, and sell its completed commercial assets worth Rs 1,500 crore during this fiscal as the realty firm seeks to achieve higher growth. Godrej Properties achieved a record sales bookings of Rs 5,038 crore in 2015-16 fiscal, up 88 per cent from previous year,… Read More »
Distressed office assets are emerging across cities, throwing up opportunities for large developers backed by private equity (PE) funds to buy into incomplete or stalled office projects, special development enclaves or undeveloped land, a trend that has played out in the residential sector in recent years. Bengaluru-based Embassy Group is buying out a 60% stake in… Read More »
Microsoft is scouting for 1.1 million sq ft office space in Bengaluru to consolidate and expand its business in India as part of chief executive Satya Nadella’s plans to tap into the local market and engineering talent. The American technology company has already looked at properties in Embassy GolfLinks and North Bengaluru but is yet to… Read More »
The government has approved the proposal of Infosys to set up an IT/ITeS special economic zone in Bengaluru in an area spread over 4 hectares. The decision was taken by an inter-ministerial Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its meeting on April 28. “The Board noted that the developer is in possession… Read More »
DLF, the country’s largest real estate developer, is planning to bring its mall assets under separate special purpose vehicles (SPVs) so that it can sell stakes in them and convert them into real estate investment trusts (REITs) in the future. The company could raise as much as $1 billion through this route, a executive aware of… Read More »
All new commercial buildings in the city with more than 1,000 sq. mts plot area or 2,000 sq. mt built area will now have to comply by Energy Conservation Building Code (ECBC), Mayor Bonthu Rammohan said after a meeting on energy conservation here on Thursday. The Greater Hyderabad Municipal Corporation would soon create a technical cell… Read More »
Indiabulls Real Estate (IBREL) on Wedneaday said the company now has a majority stake of 51.18 per cent in Singapore-listed business trust IPIT after acquisition of 2.77 crore shares by its subsidiary. The company earlier had 47.5 per cent stake in Indiabulls Properties Investment Trust (IPIT), which has a portfolio of over three million sq ft… Read More »
Homegrown private equity fund Everstone Capital is planning to list its warehousing and logistics assets valued at $2-2.5 billion as a Real Estate Investment Trust (REIT), said four people involved in the process. Everstone is looking to raise more than $3 billion over the next four years through its arm IndoSpace. Read more: Economic Times