Realty News
Rail Land Development Authority (RLDA) has been trying to lease its prime 10-acre plot in the Bandra area. The authority has increased the duration to 45 years this time. The lease is expected to fetch around Rs.2,500-3,000 cr for the Railways. The authority wants the developers to build a commercial office complex on the plot. [...] Continue Reading »
A division bench expressed satisfaction over the government’s new model of raising an army of “ward officers” to keep a tab on the constructions of their respective wards within the limits; almost a year after the PIL against illegal constructions in the city was filed in the Patna high court. A bench of Justice Navin [...] Continue Reading »
India’s realty sector is projecting that a strong Govt at the Centre will give it the much-required push, via some significant initiatives and regulations to help the sector gather momentum for potential growth. Noting that significant reforms by the Centre Govt can help attract investments to the realty sector, Anuj Puri – JLL India’s Chairman [...] Continue Reading »
With expansion apparently on the horizon for India’s affordable and low-income housing sector, which presently has a shortfall of approximately 5-6 million homes, some bigwig real estate-focused private equity (PE) funds are planning to make investments in the sector. A possible investment in India’s low-income housing sector in 2014 is an option that is being [...] Continue Reading »
A potential joint venture is being worked out by Tata Realty and Infrastructure and Ferrovial SA of Spain to bid jointly for Mumbai’s second airport project — the Navi Mumbai airport. Tata Realty and Infrastructure’s intentions of bidding for the Navi Mumbai Airport project – most likely in collaboration with Ferrovial – marks the company’s [...] Continue Reading »
On Wednesday, shares of real estate firms fell by up to 9 percent; thanks to selling pressure. While the benchmark index – the S&P BSE Sensex – witnessed a 0.22 percent plunge, some sectoral indices cracked almost 5.3 percent. The top loser among the sectoral indices was the S&P BSE Realty index. Prior to the [...] Continue Reading »
With a contribution of approximately 5 percent to India’s total GDP, Mumbai – the ‘Maximum City’ – is a dynamic metropolitan which is expected to witness further growth in the coming 7-year period. Mumbai’s growth over the next few years will largely be driven by the fact that the city’s prominent growth sectors – including [...] Continue Reading »
Two substantial real estate deals have recently been struck by Bangalore-based firms Embassy Group and Sobha Developers. The deals – for which the two companies have shelled out more than ₹1,500 crore altogether – will give Embassy Group a major stake in a business park, and Sobha Developers a substantial stake in a residential project. [...] Continue Reading »
In a recent interview with StartupCentral, CommonFloor CEO Sumit Jain talked about Flat.to — the property listings platform which CommonFloor acquired last week. Flat.to is a property listings platform which focuses primarily on students and single professionals; and its acquisition marks the first takeover for the 2007-founded CommonFloor. With CommonFloor – co-founded by Sumit Jain, [...] Continue Reading »
During the current financial year 2013-14, the property tax collected by the Nashik Municipal Corporation (NMC) has increased by 14.37% as compared to last year’s figures. In the financial year, the NMC has collected property tax amounting to Rs 71.74 crore, which is 14.37% more than the previous financial year. In 2012-13, NMC had collected [...] Continue Reading »
