Realty News
Supin Meechucheep, managing director of JLL (Thailand) suggests that investments in New York, Los Angeles, London, Tokyo, Shanghai and Beijing make perfect economic sense. He adds that property values in these big cities will continue to grow because of urbanisation. Supin favours investments in US in commercial assets, such as department stores, offices and hotels. [...] Continue Reading »
The bid for privatisation of six airports has been postponed to June due to the ongoing general elections, said officials of the Airports Authority of India (AAI), the nodal agency overseeing the bidding process. The due date for the Requests for Qualification (RFQ) for the Chennai, Kolkata, Lucknow and Guwahati airports has been pushed a [...] Continue Reading »
Supertech CMD RK Arora, Responding to an Allahabad High Court order to raze two of its under-construction towers in Noida, declared that the projects fully complied with the rules. He added that to protect the interest of homebuyers the company will move to the Supreme Court in a week. Demolition of the twin 40-storied towers [...] Continue Reading »
President Pranab Mukherjee has received an application written by Subramanian Swamy, Bharatiya Janata Party leader , in quest of a CBI investigation into the declassification of Keventer Dairy Ltd.Its a land near Rashtrapati Bhavan for building apartments, supposedly benefiting the real estate company DLF.He has attached a document which proves that in at least one [...] Continue Reading »
In the next two years, A string of global hotel chains including Rotana, Meininger, Jumeirah and Six Senses is coming up to enter the country due to attraction of growth prospects here. Kaushik Vardharajan, partner managing director, Asia Pacific, at hospitality consultancy HVS said, by looking up at the global situation right now, for these [...] Continue Reading »
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »
The new government will take decisions on the Commerce and Industry Ministry’s proposal to relax foreign direct investment policy in construction and railways. The nine—phase general elections for the 16th Lok Sabha has started from April 7 and counting will be held on May 16. The new government is scheduled to be formed next month. [...] Continue Reading »
The first meeting on roads for revising the draft of the city’s development plan (DP) was held and the roads in the proposed DB were discussed. 13 committees comprising officials have been formed to conduct the basic survey of the draft DP. 10 committees have already submitted their basic survey reports. The remaining reports are [...] Continue Reading »
The Credai-Karnataka opened its 9th chapter in Karwar, where currently around 50 projects are under way and with over 20 developers. Nagaraj Reddy, President, Credai-Karnataka says that opening of the chapter is affirmation by the real estate industry of their desire to set high standards. He adds that the materials for a building bear a [...] Continue Reading »
Construction in the city has slowed down due to workers shortages as they have gone back to their native places to cast their votes. Time-bound projects will be affected the most, as a result. Bangalore construction industry is dependent upon labourers from Karnataka, Orissa, Bihar, Uttar Pradesh, Rajasthan, Tamil Nadu and Andhra Pradesh. A lot [...] Continue Reading »
