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 »
Mumbai office sale registrations contracted on a quarterly basis since the beginning of 2016 to the lowest in the last quarter. The registrations dipped to nearly 1/3rd of the Q1 levels in Q4 – the quarter of demonetization. Both no. of registrations and transaction volume dipped by 55-60% in Year-on-Year (Y-o-Y) comparisons for Q4 ’16. Even… Read More »
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 »
In one of the largest real estate transactions of this year, RMZ will acquire the remaining 50 per cent stake in Essar Group’s commercial project Equinox Business Park in Bandra-Kurka Complex, Mumbai, by the end of this year. The company will pay Rs 2,400 crore for the complete buyout, which will be funded by Qatar… Read More »
In one of the largest real estate transaction of this year, RMZ Corp will acquire 100% stake in Essar Group commercial project Equinox Business Park in Mumbai’s Bandra-Kurla Complex for about Rs 2,400 crore. “RMZ already hold 50% stake in the project the remaining stake buyout will happen by the end of this year. The… Read More »
Cash strapped brothers Malvinder and Shivinder Singh are in active discussions with private equity group TPG Capital to sell a significant minority stake in Fortis Healthcare. The transaction may also see the folding back of the Singapore listed business trust into the listed Indian entity, said four sources aware of the transaction. The quantum of… 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 »
Cerestra Advisors Ltd, a real estate-focused private equity firm, has bought Alexandria Knowledge Park at Genome Valley in Hyderabad for Rs 400 crore as it plans to build an office portfolio focused on R&D clients. Alexandria Knowledge Park, which counts tenants such as Swiss pharmaceutical giant Novartis, was previously owned by New York-based Alexandria Real… Read More »
India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the… Read More »
India’s largest real estate developer DLF has shortlisted six potential buyers for 40% stake of the promoters in its rental arm DLF Cyber City Developers Limited that is expected to sell for about Rs 13,000 crore, two people aware of the development said. The company had invited expressions of interest and received 11 offers over the… Read More »