Cities
With the Kingfisher Tower setting capital values benchmark of Rs. 30,000 per sq ft in the super luxury segment, Bangalore’s luxury residential market has witnessed a drastic change, said Jones Lang LaSalle India. According to JLL report, the residential property capital values have increased by 25% from mid-2009. At present, the absorption of residential spaces [...] Continue Reading »
Wal-Mart, world’s largest retailer, is likely to change its global strategy in Indian retail sector. WAl-Mart is of the opinion that concept of hypermarkets spread across a huge space may not work in India. It may go for smaller stores in India to cater to needs of consumers. The strategic shift is centered around unwillingness [...] Continue Reading »
The economic slowdown has not affected deals in Delhi’s premium real estate space. In a record deal, Gujarat-based Torrent Group has bought 1,124 sq yards of residential property in Chanakyapuri for Rs 111 crore, at the rate of around Rs 10,00,000 per sq yard. This is the highest recorded rate in the recent past in [...] Continue Reading »
After Bangalore, it seems Mumbai’s turn to face concerns over Dengue fever. The extended fluctuating weather along with intermittent rains has led to a rise in dengue cases. With the monsoon withdrawing now, there are chances of water accumulating in open spaces providing mosquitoes a perfect breeding ground, which is causing a rise in dengue [...] Continue Reading »
In order to earn more money, the Maharashtra state cabinet has cleared a new policy for pre-Independence leasehold plots in Mumbai. The policy will affect the monthly rentals of tenants occupying old buildings in the city. As per the new policy, the government has hiked rent, limited the term of new agreements to 30 years [...] Continue Reading »
The Municipal Corporation of Guragon (MCG) has conceded that it will fall way short of achieving property tax target it has set for itself in the current financial year. The MCG aimed to collect Rs 500 crore this year. However, even after six months it has barely managed to collect only around Rs 50 crore [...] Continue Reading »
Global realty service player Jones Lang LaSalle (JLL) recently got green signal from Securities and Exchange Board of India (SEBI) to launch its first residential focused fund in India. JLL aims to raise $57 million through the fund. JLL got the approval under a new class of pooled-in investment – Alternative Investment Funds (AIFs). The [...] Continue Reading »
The new leasehold policy announced by the government have not gone down well with the developers. Builders are of the opinion that the hike in lease rates, announced in the new leasehold policy, will affect the monthly rents paid by tenants who occupy old buildings. The builders say that the policy will also further drag [...] Continue Reading »
The Land Acquisition Bill is to face further delay in way of its legislation. A group of ministers (GoM) had been set up to resolve differences over the proposed bill. However, they have failed to reach a consensus in their second meeting. GoM, headed by agriculture minister Sharad Pawar, remained divided over several contentious issues, [...] Continue Reading »
In the ongoing series of discussions to provide relief to real estate sector, developers have asked for relaxation of funding norms. Deliberation between Indian Bankers Association (IBA) and Confederation of Real Estate Developers Association of India (CREDAI) saw developers called for the easing of financing norms to ease the cash crunch of the developers. The [...] Continue Reading »
