US private equity major Blackstone Group has moved closer to inking a $250-300-million deal for 15% in K Raheja Corp’s 20-million sq ft income-producing office portfolio, said two persons familiar with the development. “An application with regards to the proposed deal has now been filed with anti-trust watchdog Competition Commission of India. The transaction is… Read More »
Hotel room in India has just shrunk.Entrepreneur duo of Shalabh Mittal and Hiren Gandhi have launched a hotel in Andheri in Mumbai with pods between 50 square feet and 90 sq ft. Urbanpod, the 140-unit hotel, started operations on Wednesday and is the only such offering in the country. It offers classic (single occupancy), private… Read More »
Non-banking financial company (NBFC) Altico Capital today said it has infused Rs 180 crore in Mumbai-based realty developer Sheth Corp.The money will be utilised predominantly for the construction of a residential project ‘Project Zuri’ in Thane. The project has received a good response in its recent pre-launch sales which establishes the marketability of the product,… Read More »
Fort House, the home of VideoconBSE -0.29 % Group, is getting a new owner in a deal that would turn heads: The Rs.300-crore transaction is among the biggest in South Mumbai this year, but would be towards the lower end of the rate gradient for a property of that size and in that location. Dawat-e-Hadiyah,… Read More »
3000 Crores (~ $ 0.5 Bn) Annual Rents Expiring Across India in 2017. Approximately 30 msf space of nearly 1600 deals contributing more than 255 crores to monthly rental revenues to expire in 2017. Top 3 CRE Markets -Bangalore, Gurgaon and Mumbai together contribute approximately 73% to the volume of lease expiries in 2017. Bangalore… Read More »
In a rare sale deal in South Mumbai’s prime business district of Nariman Point, The Indian Express media group has bought 15,645 sq ft of space in the Mafatlal Centre building for Rs 34 crore or Rs 21,732 a sq ft from Japanese company Mitsui & Co, according to registered documents. The deal includes four… Read More »
ArthVeda Fund Management, part of financial services conglomerate Wadhawan Global Capital, is planning to raise $1 billion to invest in affordable housing projects across the country, said a top company official. The asset management company recently received $250 million commitment from Qatar Holding, part of Qatar sovereign fund, for its affordable, low and middle income… Read More »
Godrej Properties has invested Rs 280 crore across two deals in Bangalore and Thane so far from its $275 million residential real estate platform formed in association with Dutch pension fund APG Asset Management. The platform named Godrej Residential Investment Program II made its first investment by acquiring 80% of the equity share capital in… Read More »
Private equity investments in the real estate sector increased by 26 percent during 2016 and touched a nine-year high of nearly Rs 40,000 crore, according to property consultant Cushman & Wakefield. Mumbai saw the highest share of inflow at 32 percent of the total private equity investments in real estate (PERE). “PERE inflows in 2016… Read More »
Piramal Fund Management (PFM), financial services arm of Piramal Enterprises, has sanctioned investments worth about Rs 2,000 crore within three months of launching lease rental discounting (LRD) for completed commercial assets that include office and retail space, it said on Wednesday. Of this, it recently approved two investments under LRD against assets in Mumbai and… Read More »
