Bangalore
Tata Group, which is currently building a shopping mall in Amritsar, plans to take its Trillium mall brand nationwide in order to outfit in the country’s beneficial modern retail sector. The 700,000 sq ft mall will be ready by the end of this year or by early next year. The company has three more malls [...] Continue Reading »
PricewaterhouseCoopers, a global professional services firm, inaugurated its new office in Chennai, on Tuesday, to provide advisory, tax and regulatory services. The company has increased its employee base by 24 per cent at the Chennai Centre to meet the growing demand for various sectors. PwC has its existence in major cities of India like Ahmedabad, [...] Continue Reading »
Blackstone Group, US-based private equity major, is set to acquire 36% ownership in the tenanted office space group of Embassy Property Developments, for about $230 million (Rs 1,300 crore). The deal is expected to be Blackstone’s biggest real estate deal in India, giving it part ownership of more than 12 million sq. ft. The Blackstone [...] Continue Reading »
In a rare occurrence that has had reverse effect on the escalating prices of apartments, a big luxury apartment project launched by TVH Group in Adyar seems to have set a new trend. TVH has brought down the prices by 16% where in the earlier prices were 16000 per sq. ft. It was a calculated [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) may face charges of contempt of the court as the High Court in a hearing put BBMP under scanner for entering into a third party deal with Maverick Holdings for construction of flats for Economically Weaker Section (EWS) at Ejipura. The Bench heard many folded petitions filed by some [...] Continue Reading »
Mumbai, NCR and Bangalore alone took up 75 per cent of the total office space absorbed in India in the April-June quarter. Almost 96 per cent of the entire space was left unsold and got added to the present quarter. Other cities such as Chennai, Pune and Hyderabad experienced delays in project completions. But however, [...] Continue Reading »
Value & Budget Housing Corporation (VBHC), co-founded by former MphasiS chairman Jaithirth (Jerry) Rao and former Citibank Consumer Banking Head P S Jayakumar, has announced an expansion plan of Rs 300 crore. The company will launch nine projects of budget homes across Bangalore, Mumbai, Chennai, NCR and Baroda, offering a total of 2,500 units. VBHC [...] Continue Reading »
According to the study by Venture Intelligence, a research service focused on PE and merger and acquisition activity in India, Private equity (PE) firms had invested about USD 1.84 billion during the quarter ended June 2012. The investment amount was 34 percent less than USD 2.79 billion invested in the same period last year. Further, [...] Continue Reading »
While banks are being unwilling to provide real estate loans, the Reserve Bank of India has been following a cautious policy to reduce risks associated with realty sector and to ensure that the sector remains sustainable and viable over a long period of time. National Housing Bank (NHB) has also played its role in de-risking [...] Continue Reading »
Although the real estate market remained sluggish, nearly seven million sq ft of office space were leased out during the April-June period, says a survey. Major cities like Delhi NCR, Mumbai and Bangalore have totalled over 75 per cent of the entire space absorbed during the three month period, according to a report by global [...] Continue Reading »
