The Planning Committee of Municipal Corporation Greater Mumbai has recommended increasing the total area available for affordable housing in the city by over 80 hectare to 787.28 hectare in its Development Plan for 2034. The Revised Draft Development Plan 2034 (RDDP 2034) had earlier provided for 707.13 Ha of land for affordable housing in the… Read More »
The planning committee’s report on the draft Development Plan-2034 is likely to help BMC create more affordable houses than the 10 lakh planned earlier. For, it has renamed no-development zones (NDZ) as special development zones (SDZ). In the plan submitted to the mayor, the panel allowed smaller SDZ plot owners to develop their land after… Read More »
Piramal Realty, the real estate arm of the Piramal Group, will be spending Rs 1,800 crore on its residential project spread over 8.4 acre in Mulund suburb of Mumbai, said a top company official. This is part of the company’s total planned investment of Rs 16,000 crore for executing projects and buying land parcels over… Read More »
Throughout 2016, the number of new residential project launches was lower than units sold. With all states staring at the approaching deadline to implement their versions of the Real Estate Regulation & Development Act (RERA), most will definitely fall in line, said JLL India. “This landmark law will enforce hitherto unprecedented transparency and accountability requirements… Read More »
Singapore’s sovereign wealth fund GIC Pte. Ltd and private equity firm Blackstone Group Lp have emerged as the two top global investors in India’s real estate sector after almost a decade of investing in the country. Canada’s Brookfield Asset Management Inc. is fast moving into the big league. GIC and Blackstone, which have different investment… Read More »
Microsoft is close to signing a nine-year lease deal with Prestige Group for a 600,000 sq ft office space in Bengaluru, three people aware of the development said. “The deal is in the final stage of closure,“ they said, adding that the lease is renewable every three years. The Redmond-based technology company , which currently… Read More »
US-based fintech company FIS Solutions has renewed its lease of over 2.28 lakh sq ft office space at Westend Center One in Pune’s Aundh locality, two persons familiar with the development said. The Jacksonville, Florida-based company, earlier known as Sunguard Solutions, will pay monthly rental of Rs 54 per sq ft, taking the total lease… Read More »
2.6 msf lease expiries in hyderabad in 2017. Total Monthly Rental Revenues IT SEZ contribute to 48% of the expiries *Grade A data only and Includes renewals
With India expected to be the world’s fastest growing economy in 2017, this year’s World Real Estate Forum organised by MIT Center for Real Estate on the MIT campus in Cambridge will have a special focus on India. The World Real Estate Forum will be held on May 18 and 19 in Massachusetts. The panelists… Read More »
Private equity real estate funds are likely to ramp up their investments in 2017 globally even as they face a tough property market, said alternative assets industry data and intelligence provider Preqin. Preqin’s global survey of over 180 real estate fund managers finds that two-thirds of firms intend to deploy more capital over the next… Read More »