Realty firm Godrej Properties Ltd expects to monetise commercial properties worth about Rs 1,500 crore at Mumbai, Kolkata and Chandigarh over the next six months and reduce net debt, which now stands at Rs 3,278 crore. In September 2015, Godrej Properties had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai… Read More »
Office space absorption in Delhi-NCR declined by over 8 per cent last year due to sharp fall in supply but the situation is expected to improve in 2017 with a completion of several commercial projects, according to a property consultant. According to the data, office space leasing stood at 8.6 million sq ft during 2016… Read More »
Office space absorption in Delhi-NCR declined by over 8 per cent last year due to sharp fall in supply but the situation is expected to improve in 2017 with completion of several commercial projects, according to a property consultant. According to the data, office space leasing stood at 8.6 million sq ft during 2016 compared to 9.4… Read More »
Gurgaon remained the preferred choice for opening offices in the National Capital Region (NCR) among companies, grabbing 51% share or 3.88 million square feet of the total office space leased in the region in 2016, according to a property consultancy. Noida and Delhi accounted for about 36% and 13% share, respectively, out of the total… Read More »
Consumer durables firm Samsung India Electronics Ltd has signed a deal to take up around 1 lakh sqft of office space on lease to set up its new corporate office at Oberoi Realty Ltd’s commercial property Commerz II in Goregaon suburb of Mumbai, three people aware of the development said. The Korean company will pay… Read More »
With no takers for land in its area, Noida Authority has delayed the auction of commercial land for large and small category 27 plots till December. The Authority has also extended its group housing scheme of six plots in sectors 146 and 147 launched earlier this month.Bidding of these plots for commercial use by consortiums,… Read More »
IKEA Group, the leading Swedish home furnishings company, is scouting for land in Greater Noida to set up its first showroom in north India. Representatives of the company met Deepak Agarwal, CEO, Greater Noida Industrial Development Authority (GNIDA), on Friday and expressed interest in setting up the facility on nearly 25 acres of land in… Read More »
Burman GSC, a joint venture between the Burman Group, promoters of home-grown FMCG company Dabur, and real estate private equity fund Golden State Capital (GSC), has bought out Ascendas India’s 51% stake in SEZ OneHub, located in Gurgaon, in a deal valued at around Rs 300 crore. Sources told TOI that Ascendas wanted to exit… Read More »
Investors across real estate segments — residential, commercial and land – are rushing into Gurgaon which saw large sales across financing and land acquisitions in excess of $1billion, double that of 2015. Last year, Gurgaon market attracted around $500 million in investments as investors were in a wait-and- watch mode towards outlook and an expected recovery.… Read More »
Coworking space provider Instaoffice plans to lease around 1 lakh sq ft of office space by March next year and expand operations to Bangalore and the National Capital Region. “We are focusing on demand based expansion and aim to set up 1,500-2,000 desks, leasing around 100,000 sq ft by the end of this financial year,”… Read More »