Cities
According to international real estate consultancy CBRE’s India Office Market View 2012, the absorption of office space had a sequential fall of 14% across seven key cities ended September, a fall of about six million sq ft, compared with about seven million sq ft in the previous quarter. National Capital Region (NCR), Mumbai and Bangalore, [...] Continue Reading »
The India’s industrial standards is being compared with the international standards in a report of Toronto-based architect Adamson Associates. The report by the architect which is to construct a campus in Bangalore for around 4,000 Goldman Sachs staff, criticised India’s construction standards as it faced an array of obstacles including shoddy construction, corruption, poor sanitation [...] Continue Reading »
In order to generate more revenue to fund infrastructure projects in Mumbai and other areas, Mumbai Metropolitan Region Development Authority (MMRDA) has sold land parcels in the Bandra-Kurla Complex (BKC) and Wadala. Over Rs 70,000 crore expected towards infrastructure projects in the next decade, the projects is in urgent need for alternate sources of revenue [...] Continue Reading »
The flat owners association and civil society organisations accused the builders’ lobby for inducing confusion among flat owners about payment of value added tax (VAT), through social advertisements. Confederation of Real Estate Developers’ Associations of India (CREDAI) has published advertisement about collection of VAT. As soon as the advertisement was out, the local builders sent [...] Continue Reading »
Chennai witnessed the highest absorption of office space at 1.32 million sq. ft in the third quarter of 2012 while Bangalore and Hyderabad witnessed an absorption of 1.25 million sq ft and 0.50 million sq ft respectively, according to a report by Cushman & Wakefield. The report said that this trend is due to the [...] Continue Reading »
South Chennai is coming up with a number of new township projects for possession or nearing possession. These new projects offer a variety of property types ranging from multi-storey apartments, builder floor apartments, independent villas and plots, priced at Rs 2500-3700 per sq ft. An appreciation of 30% has been witnessed since the projects were [...] Continue Reading »
Experts expect that the new supply in Mumbai realty market could lessen by 20-30% than the prevailing rates as the market has been ravaged with high prices. Around 200 new projects are coming up in June – September and it is estimated that it will launch in cheaper rates. According to a real estate analyst, [...] Continue Reading »
Plans for buildings in the villages of Delhi got approved is set to get easier with the South Delhi Municipal Corporation’s (SDMC) decision to remove the necessity of producing any ownership proof. This move by the SDMC is expected to benefit lakhs of people living in the village who do not have an identification of [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has decided to simulate online tracking system that is used for the first time for all civic issues. The system helped BMC to ensure the officials and contractors of the road department to meet deadlines and it is expecting to extend this system to other departments as well. The system will [...] Continue Reading »
A study by Observer Research Foundation (ORF) shows that Mumbai loses a shocking 650 million litres of water every single day due to leaking pipes — this is the total of Pune’s total daily water supply. The Brihanmumbai Municipal Corporation (BMC) does not seem to have a plan to curb this issue. The study says, [...] Continue Reading »
