Cities
Ascendas, a Singapore-listed technology park developer, is likely to buy an IT special economic zone (SEZ) of Shriram Properties in Chennai, for about Rs 500 crore. Shriram’s IT SEZ is part of a larger mixed use development on a 58 acre land (1.3 million sq. ft.), which it had bought from Standard Motors Factory in [...] Continue Reading »
DLF, leading real estate developer of India, held back by debt and sluggish demand, is shifting back its focus on the familiar territory of its home market. The firm concentrates on building high-end luxury homes in North India while new projects in other parts of the country see a downtrend. Its overall focus in the [...] Continue Reading »
The first two quarters of the ongoing year 2012 have seen 21% decrease in office space absorption across key metro cities in India. The office space absorption in this year being 13.4 million square fee while it was 16.9 million square feet at the same period in 2011. According to the latest Cushman & Wakefield [...] Continue Reading »
Shriram Properties, a Bangalore-based realty player, is in talks with private equity (PE) firms to expand its land bank. The firm has planned to raise funds of Rs 700-800 crore through private equity. It is in talks with several PE firms including JP Morgan, Morgan Stanley and few other mid-sized PE firms. Shriram Properties has [...] Continue Reading »
Land losers have protested against two major players- Jindal Steel & Power Ltd and Dhamara Port Company Ltd (DPCL) over rehabilitation issues. While industrial projects have been stalled over land acquisition row, tension erupted during the public hearing on environment impact assessment for second phase expansion of Dhamra Port, villagers affected by the six million [...] Continue Reading »
The office space absorption in Hyderabad grew 5 % while overall office space absorption across top eight cities of the country plummeted 21% to 13.4 million sft as compared to 16.9 million sft in the first half of 2011, according to a study by global real estate consultancy firm Cushman & Wakefield. This steep drop in office [...] Continue Reading »
Residents of Malleshpalya and GM Palya are suffering due to insufficient water supply. They get water once in 10 days and sometimes, a whole month goes by without water supply. Malleshpalya and GM Palya, both located adjacent to CV Raman Nagar in East Bangalore, are not yet included in the Cauvery water supply belt. In [...] Continue Reading »
The money transfers to India by NRIs will not come under the realm of service tax as said by Prime Minister Manmohan Singh. Kerala chief minister, Oommen Chandy, said that the Prime Minister has dismissed all the reports related to levy of tax on the money of Indians working abroad. The Prime Minister asked for [...] Continue Reading »
Dust that flies in from the stone-crushing units in the area is the major problem faced by the residents of Sankar Nagar in suburban Pammal which is a town in the neighbourhood of Chennai. There are 53 stone-crushing units in the Sankarnagar, polluting the homes, streets and shops situated in the area. Exposure to such [...] Continue Reading »
The real estate sector has been lying low due to lesser cash inflow in both the commercial and residential segments, hoping that there will be a change in liquidity levels soon. The macro-economic factors such as high interest rates, high land costs, etc. which have a direct effect on the sector, seem not to improve [...] Continue Reading »
