Real Estate Investment Trusts (REITs) are likely to become a reality in India soon, with the removal of Dividend Distribution Tax. This move is expected to offer commercial developers a liquidity option and retail investors an opportunity to participate in office realty market’s growth. As of now, the dividend distribution tax (DDT) was chargeable at… Read More »
The 12-acre project in Gurgaon would be developed at a cost of Rs 1,100 crore and has a total leaseable area of 2 million sq ft. Realty major DLF has given an about Rs 800 crore contract to L&T for construction of its new office complex in Gurgaon. The construction of this office project has started and… Read More »
Nagpur: MADC (Maharashtra Airport Development Company) plans to give three more years to companies to start work which have been unsuccessful to do so in past three years. The will be discussed in the next meeting of the company’s board. 81 companies have taken land in Mihan. CM Devendra Fadnavis, who is the chairman of… Read More »
Bengaluru: Piramal Fund Management Pvt. Ltd plans to provide some of the country’s top realty firms an open line of credit to enable them to acquire projects and buy land. Through a new scheme called Piramal Preferred Partners, they have pre-sanctioned a Rs. 15,000 crore funding limit to back about 8-10 developers in Mumbai, Bengaluru,… Read More »
The Carlton Towers, Bengaluru has become one of the city’s cheapest office complexes owing to an accidental fire that claimed nine lives in February six years ago. This tragic fire has left the 7-storey building without takers all these years. Out of 104 units, only 14 are occupied in Carlton Towers now. The Carlton Towers… Read More »
The share of ecommerce firms taking up office space in the leading cities rose from 2% in 2014 to 6% last year, CBRE said. Currently, Bengaluru leads in rentals and leases by ecommerce companies, followed by Gurgaon and Mumbai, according to CBRE. Startup companies like Flipkart, Snapdeal have consolidated their operations into single office to… Read More »
WeWork, co-founded by Adam Neumann and Miguel McKelvey, is planning to enter India and is in talks with Bengaluru-based developer Embassy Group for a joint venture. It is valued at $15 billion recently and is a provider of shared office space to small businesses and entrepreneurs. It takes up office space from developers and landlords and then rents it… Read More »
The Gujarat High Court issued notice to GIFT city, coming up in Gandhinagar on a public interest litigation (PIL) alleging administrative and financial irregularities. The petition was registered on December 18, 2015. The division bench of Chief Justice R Subhash Reddy and Justice Anant S Dave have kept the further hearing on March 15. Petitioner… Read More »
DLF, India’s largest real estate company, is targeting to increase its CRE (office and retail) supply to 36-40 million sft in the upcoming years. Presently, its office and retail space covers around 31 mn sft, of which 2 mn is vacant. The developer has planned to add 4 mn sft of new office space in… Read More »
Rents and capital values for prime offices are expected to grow more rapidly in 2016, according to the study by the Royal Institution of Chartered Surveyors (RICS), a standards setting body for the real estate and construction sectors. “Office demand for the last several quarters has been improving and is expected to continue in the… Read More »