Mumbai
Everstone has tied-up with Jones Lang LaSalle India for providing retail property management services to four shopping malls at Pune, Kochi, Vadodara and Ahmedabad. The agreement bears significance as this is the first time that a private equity (PE) fund has entrusted its entire shopping centre management portfolio to a real estate consulting firm in [...] Continue Reading »
Mumbai’s skyline is changing rapidly as more and more skyscrapers are soaring into the sky. On the backdrop of the city’s high population density, developers argue that high-rises are more convenient and hold the answer to the city’s housing problems. Until now, the 60-storied Imperial Towers at Tardeo which was built in 2010, is the [...] Continue Reading »
International property consultants are introducing new business streams and realigning their focus areas in India to tap segments which are predicted to attract increased demand. CBRE Inc., a top commercial office space service provider headquartered in California, has strengthened its capital markets division in India. The capital markets team will largely arrange finance for developers [...] Continue Reading »
The service sector is expected to revive demand for office space with an estimated absorption of 28-30 million sq ft by the year-end. Jones Lang LaSalle India says that the service sector is likely to drive demand for commercial real estate. An 8.5 percent growth in the services sector in FY12 is an indicator that [...] Continue Reading »
Around 225 former and serving legislators will have to pay over Rs 85 crore as penal interest and delayed amount in Maharashtra. They have been penalised for failing to make the full payment of the flats allotted to them in Versova by Maharashtra Housing and Area Development Authority (Mhada) in 2009. Compared to the market [...] Continue Reading »
Mumbai has topped the office space absorption across cities in Q3 of calendar 2012. Real estate consultancy Cushman & Wakefield reported that the total office space off-take was 2.23 million sqft (msf) in Q3, which has increased by more than 50 per cent over the previous quarter. Chennai was second with 1.32 msf in office [...] Continue Reading »
The demolition drive in Pimpri Chinchwad is significant as it has continued despite stiff opposition. A whopping 1.1 lakh constructions were found to be unauthorised and its owners have been sent notices by the civic administration in the last four months. To start with, the Pimpri Chinchwad Municipal Corporation (PCMC) has decided to raze constructions [...] Continue Reading »
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart Stores Inc, has termed limited availability of real estate space coupled with high real estate costs as one of the major challenges in front of Indian retail market. The government’s policy restricts foreign direct investment (FDI) into multi-brand retail sector wherein the MNC retailers are [...] Continue Reading »
Despite an increase in vacancies and low business and investor sentiment, the office rent in various micro markets in Mumbai are still increasing. The main reason for increase in office space rental is that there is a lack of quality supply in superior locations. However, there is a basic scarcity of available good-quality, right-sized Grade [...] Continue Reading »
As the market witnesses improving liquidity, the borrowing costs for real estate companies are going down. The less borrowing cost would mean an improved balance sheet. Although the change may not be seen clearly as yet. In markets like Gurgaon, there has been a lack of launches and a construction ban because of the water [...] Continue Reading »
