The Centre has warned states of a serious situation of vacuum arising if necessary institutional mechanisms for the real estate regulatory Act were not put in place before the deadline of May 1 this year. In a two-page letter to all the chief ministers of states on February 9, minister of housing & urban poverty… Read More »
GIC of Singapore is set to enter into exclusive bilateral negotiations with KP Singh and his family, the promoters of India’s largest real estate firm DLF Limited, to acquire their 40% stake in DLF Cyber City Developers Limited (DCCDL), the company that owns a portfolio of leased commercial assets, including the entire Cyber City complex… Read More »
Indiabulls Asset Management Co. Ltd is launching its first commercial asset fund and plans to raise up to Rs1,500 crore from mainly domestic investors, said a fund executive. Dual Advantage Commercial Assets Fund is an alternative investment fund (AIF) and will invest in buying out office properties that generate regular stable rental income with capital… Read More »
GVK-led Mumbai International Airport (MIAL) has won the bid for the Navi Mumbai international airport, edging out rival GMR Group. GVK, which runs the Mumbai and Bengaluru airports, offered 12.6% in revenue share to the project implementing authority, the City and Industrial Development Corporation (Cidco) of Maharashtra. The contract would be awarded to the company… Read More »
Coworking space provider Innov8 has raised an undisclosed amount in an angel round enabled by LetsVenture and Venture Catalysts. The round saw investments by prominent angel investors such as Vijay Shekhar Sharma of Paytm, Rajan Anandan of Google, Kunal Shah of FreeCharge, Girish Mathrubootham of Freshdesk and Anand Chandrasekeran of Facebook. The Delhi-based company plans… 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 »
The Indian arm of US-based Cognizant Technology Solutions has renewed the lease on its office space in the Blackstone Group-owned IT park in Pune, said two people familiar with the development. The deal is the first major office space transaction this year. Following the renewal of the lease of 2.6 lakh square feet of office… Read More »
Limited new office supply in Bangkok is expected to drive up rental prices by between 5 per cent and 9 percent this year, according to a survey by CB Richard Ellis (Thailand). CBRE’s research also anticipates that the tight office-supply situation will continue in 2018 and 2019, while the supply situation from 2020 onward will… Read More »
Real estate companies, both residential and commercial, expect the sector to grow significantly after the Real Estate (Regulation and Development) Act (RERA) takes effect. Under the Act, the sector is expected to become more organised, making it attractive for foreign investors to come in. For one, the Act makes it mandatory for all projects to… Read More »
Oneco.Work is an office space provider for entrepreneurs and startups. It offers premium co-working office spaces and essential back-end services, with a broad range of facilities that meet the requirements of startups of all scales and sizes.Its mission is to enable entrepreneurs to scale their businesses with alacrity by offering them a conducive work environment. Oneco.Work… Read More »