The government to increase ready reckoner rates by an average 7%, effective from 1st April, 2016 which means buying and developing properties in Mumbai and rest of Maharashtra is set to become costlier. The stamp duty on property transactions, calculated on the basis of RR rates, would go up as a result. Revenue minister Eknath Khadse made… Read More »
In 2015, IT/ ITes contribution to office absorption was reported to be 57% for Bangalore, 64% for Gurgaon and 74% for Pune. In India, Bangalore, Pune and Gurgaon are the preferred locations among tech occupiers, primarily because of the ability to attract talent and the ability to access grade A buildings at affordable rents. Generally,… Read More »
IDBI Federal Life has purchased office space for Rs 111 crore in Marathon Realty’s commercial project at Lower Parel in Mumbai. It has acquired around 61,720 sq ft office space spread over two floors in the project ‘Marathon Futurex’. “IDBI Federal Life Insurance Company Ltd has bought commercial space worth over Rs 111 crore at Marathon… Read More »
The proposed Oshiwara District Centre (ODC) is likely to become commercial hub in the suburbs with its real estate prices expected to rise by 25-30 per cent over the next 3-4 years, on the back of infrastructure and commercial development in the region, as mentioned in a HDFC Realty report. “ODC will be developed by Mumbai Metropolitan… Read More »
Piramal Fund Management Pvt. Ltd, the investment arm of Piramal Group, will start funding commercial office projects. It is one of the largest lenders and investors in residential real estate and already has a loan book and equity investments worth Rs.22,000 crore in the residential space alone, plans to deploy another Rs.5,000 crore in commercial office… Read More »
Kingfisher House is to be auctioned on March 17, 2015 to retrieve part of Rs 6,963 Cr loans due from the non-operational airline. Creditors have set a reserve price of Rs 150 Cr. The 2,401-square-metre property was taken under possession by SBICAP Trustee Company in February 2015. The e-auction will be held under the SARFAESI… Read More »
CIDCO, sold total 8 land parcels in Navi Mumbai in an auction for total Rs 256 crore on Thursday, said two people familiar with the development. City and Industrial Development Corporation of Maharashtra Ltd (CIDCO), which is Navi Mumbai’s development authority auctioned a commercial plot in CBD Belapur and seven residential-cum-commercial usage plots at Nerul.… Read More »