Piramal Realty, the real estate development arm of Piramal Group, has forayed in the commercial real estate segment. The developer has launched a corporate park located on the arterial LBS Road in Kurla suburb of Mumbai. “Complementing the success of our residential properties, we are now creating a commercial landmark that will lay solid foundation… Read More »
Realty firm Elan group has bought 7 acres of land in Gurgaon from Essel group’s Suncity Projects for about Rs 120 crore to develop a commercial project. The company will invest another about Rs 400 crore on construction of this mixed-use commercial project comprising a total developable area of 1.3 million sq ft. “We have purchased 7… Read More »
After promoting what is one of the largest incubation facilities for technology start-ups across the country in Hyderabad, the Telangana government is planning a facility in the city to house small and mid-sized information technology (IT) enterprises. Apart from providing them an address, by way of an IT SME Tower in Gachibowli that is fast emerging… Read More »
An Australia-based construction giant has cracked a deal worth $169.5 million with an Indian company to build a retail and hospitality development project in Mumbai. CIMIC Group Company Leighton Asia, through its subsidiary Leighton India Contractors, has entered into an alliance agreement to deliver phases two and three of the Maker Maxity project in Mumbai. According to… Read More »
The MMRDA will allow apartments to come up on plots reserved for commercial establishments in BKC. MMRDA is the special planning authority for BKC, which has emerged as the city’s leading commercial business district over the last decade. The area houses several important government offices and key private financial institutes like ICICI Bank and Crisil. “We have… Read More »
Having commenced work on its first commercial tower in the International Financial Services Centre (IFSC) within the GIFT City in Gandhinagar, realty player Hiranandani Constructions Pvt Ltd is planning to launch the same in January 2017 during the Vibrant Gujarat Summit. The group is developing a 400,000 sq ft 16 storied commercial building, in which… Read More »
Blackstone, the largest alternative assets manager in the world, has started discussion with partners and its bankers on consolidating its office properties in this country, with the idea of floating a real estate investment trust (Reit), said a senior executive. Blackstone and its partners, the Bengaluru-based Embassy and Pune-based Panchshil, own about 35 mn sq ft of… Read More »
Software major Wipro has sought the government’s nod to set up an IT special economic zone (SEZ) in Kolkata. The company’s application will be considered by the inter-ministerial body, Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, in its meeting on June 22. Wipro has proposed to set up IT/ITeS SEZ over an area of… Read More »
Real Estate Investment Trusts (REITs) may soon become a reality in India with the market regulator set to further relax rules that would allow these vehicles to broad-base their avenues of investments. The Securities and Exchange Board of India (Sebi) will allow REITs to invest more in under-construction projects, rationalise unit holder consent for related… Read More »
Information technology major Wipro wishes to take forward a plan to revive a special economic zone (SEZ) project in West Bengal. It has approached the state government’s new minster for information technology, Bratya Basu. If Wipro’s recommendations are accepted, it could mean the software giant would come up with a third facility at Rajarhat, near this… Read More »