Godrej Properties in September had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai for a good valuation of Rs 1,479 crore. Godrej Properties in September had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai for a good valuation of Rs 1,479 crore. The… 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 »
Piramal Fund Management Pvt. Ltd, the investment arm of Piramal Group, will start funding commercial office projects. It is one of the largest lenders and investors in residential real estate and already has a loan book and equity investments worth Rs.22,000 crore in the residential space alone, plans to deploy another Rs.5,000 crore in commercial office… Read More »
Kingfisher House is to be auctioned on March 17, 2015 to retrieve part of Rs 6,963 Cr loans due from the non-operational airline. Creditors have set a reserve price of Rs 150 Cr. The 2,401-square-metre property was taken under possession by SBICAP Trustee Company in February 2015. The e-auction will be held under the SARFAESI… Read More »
Unnati Fortune Group, a Noida based real estate firm has awarded a contract of Rs 150 crore to Jindal Steel & Power Limited (JSPL). This is for the construction of a retail-cum-office tower in Noida’s sector-144 which is a part of the 25-acre land parcel owned by Unnati World project in Noida. The project has been planned and… Read More »
While vacancy levels in commercial establishments are set to grow from current 8%, that for malls is at 30% despite an uptake in leasing activity led by IT, BFSI and consulting sector in Ahmedabad real estate market, a report by CIRIL Network says. The office space market in Ahmedabad had total absorption of around 0.75 million sq… Read More »