Rajeev Talwar, chief executive officer (CEO), DLF Ltd mentioned that DLF would be ready with a special purpose vehicle (SPV) in the next six months. They have signed non-disclosure agreements with 25 global investors. He expects DLF to be the first one to crack REITs. DLF is gearing up to launch REITs worth Rs. 6,000… Read More »
The Union Budget presented by Finance Minister Arun Jaitley on Monday has left big smile on the faces of first time home buyers by giving them an additional tax exemption of INR 50,000 for housing loans upto INR 35 lacs. Also, the removal of a tax hurdle in the way of REIT’s (Real Estate Investment… Read More »
US based PE giant Blackstone, and Bengaluru-based developer-investor RMZ Corp could be the first ones roll out their real estate investment trust (REIT), after the FM cleared the final barrier on DDT (dividend distribution tax) in such bodies. REITs are comparable to mutual funds, and can be listed and traded on stock exchanges. A majority… Read More »
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 »
TCS and Wipro praised FM Arun Jaitley on Monday for Digital India plans and extending tax benefit to export units under SEZ scheme till 2020 in his budget for 2016-17. Tata Consultancy Services (TCS) chief executive N. Chandrasekaran commented that FM has delivered a fiscally responsible budget. He gave it a rating of 8/10. Jaitley presented that the benefit of section 10AA… 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 »
Milestone Capital Advisors, a realty private equity fund is working on exits worth Rs 1,000 crore in the next one year in the backdrop of a recovering commercial property market. The fund is in advanced stage of talks to exit its investments in Electronic City Tower II in Bengaluru and two warehousing projects in Dharuhera in the… 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 »