After MADC issued show cause notices for termination to 23 investors in Mihan-SEZ, nine companies have expressed inability to go ahead with their plans and have demanded their money paid for buying land back. All except L&T Infocity which has 50 acres of land have small-size projects having taken up 1 to 3 acres of… Read More »
Embassy Group has partially acquired a stalled SEZ project in Chennai from SNP Infrastructure for an undisclosed amount, two people aware of the development said. The 26-acre property on Thoraipakkam-Pallavaram road is close to the airport. Land on Pallavaram road costs about Rs 20 crore per acre. “The special economic zone project was shelved in 2008… Read More »
For office sector, year 2016 kick started on a positive note with office absorption totaling over 8.8 million sq ft across nine major cities in the March quarter. This includes pre-commitments of about 0.8 million sq ft. This was about 11% up from the previous quarter. Strong positive absorption from technology firms helped further gains… Read More »
With rising growth of ecommerce and internet-based businesses in India, the country is logging a growth rate of 25-30% for third-party or co-location data centers, which is spurring demand for real estate space for setting up these hubs in cities such as Bengaluru, Mumbai, Delhi, Chennai, Hyderabad, Pune and Jaipur. But despite the demand, property… Read More »
Realty major DLF on Wednesday formally launched its shopping mall in Noida, touted as one of the biggest in the country and built at an investment of Rs 1,800 crore. India’s largest realty firm is expecting about Rs 225 crore rental income per year from this mall, which has a leasable area of about 2 million… Read More »
After bulge bracket mall deals by Blackstone and GIC in Mumbai, global investors Canada Pension Plan Investment Board (CPPIB) and Macquarie are looking to buy malls in the country, said executives involved in the talks. “CPPIB has started talking to mall owners while Macquarie has shown interest in buying malls. All these investors prefer fixed yields.… Read More »
Major office hubs in Chennai continues to attract corporate occupies, during the first quarter of 2016, most of the demand for prime office space was driven primarily by the IT/ITeS, BFSI and insurance, engineering and manufacturing sectors, according to a recent CBRE report – India Office marketview – Q1, 2016. Read more: Economic Times
K Raheja Corp is working on plans to build two infotech parks totalling 6 million sq ft leasable space in Mumbai and Pune over the next two years. This will add to the existing portfolio of the company, which is India’s second largest developer of business parks that span completely leased 20 million sq ft office… Read More »
After investment banks, Maker Maxity, the plush office complex owned by Mukesh Ambani and Maker group in Mumbai’s famed Bandra-Kurla Complex (BKC) is also becoming home to global sovereign and pension funds. Marquee names such as Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC and Qatar Investment Authority (QIA) have taken up spaces in the… Read More »
Maruti Suzuki is exploring the possibilities to set up an assembly facility in Africa and investing in real estate in India to develop sales and marketing infrastructure. “We have a team in place now for land acquisition. We have allocated Rs 800 crore for building sales and marketing infrastructure. If required, we can step this up… Read More »