Realty News
World’s largest furniture retailer Ikea today said it has plans to invest Rs 12,500 crore to set up 25 stores in the country over the next decade. The new stores, each needing investment of around Rs 500 crore, will come in the cities like Mumbai, Delhi, Hyderabad and Bangalore, the Swedish furniture retailer said. Ikea [...] Continue Reading »
Greaves Cotton Ltd, an engine and infrastructure equipment maker is in talks with multiple entities to sell its construction equipment manufacturing plants. It will sell all three assets at its Gummidipoondi, Tamil Nadu facility, Narayan Barasia, chief financial officer of Greaves Cotton, said in a telephone interview on Tuesday. On Monday, the company had said [...] Continue Reading »
The Competition Commission of India (CCI) has dismissed charges that realty major Emaar MGF Land Ltd had abused its dominant market position with respect to services for development and sale of commercial units in Gurgaon. The case relates to Emaar MGF Land’s commercial project, The Palm Square, at Sector 66, Gurgaon. The complaint was filed [...] Continue Reading »
The Kerala government today approved a Rs 1,200-crore IT investment project in Technopark Phase III sponsored by Taurus India. As part of the agreement 9.73 acres of land would be given to the project under non-SEZ category and 10 acres under SEZ category, Chief Minister Oommen Chandy said. The land would be allotted under a [...] Continue Reading »
A small but critical notification awaited from the state government for continuation of the Maharashtra IT-ITeS policy is holding back major office space and other key transactions in Mumbai, Pune and some other cities. The tenure of the policy, which offers several benefits to IT-ITeS companies, including 75 percent waiver on stamp duty charges on [...] Continue Reading »
Nasscom believes that for the BPO sector to keep its growth trajectory, corporates should go to Tier-II and-III. But a cross section of the industry believes that this may not be feasible. At the annual Nasscom Business Process Management (BPM) Summit, the software industry body and real estate advisory firm Cushman & Wakefield identified top [...] Continue Reading »
The Real Estate (Regulation and Development) Bill, 2013, is likely to be taken up for consideration in the Winter Session of Parliament, said a senior government official who attended a high-level meeting on the subject on Wednesday. The meeting of the Union housing and urban poverty alleviation ministry was convened in the run-up to a [...] Continue Reading »
Stung by angry Facebook posts by unhappy customers, a Delhi-based real estate company got an interim gag order from Delhi high court. Now, buyers have moved HC seeking the order be lifted. Buyers contend that they have a right to air their grievances and raise complaints of delay. HC will consider arguments seeking vacation of [...] Continue Reading »
The mid- and small-size capital goods and infrastructure companies are starting to experience a revival in the demand, especially from the public sector, as well an economic recovery—however strenuous has begin to take the hold. They include the civil contractor and the infrastructure builder Ahluwalia Contracts (India) Ltd; Shakti Pumps (India) Ltd, a maker of [...] Continue Reading »
India’s commercial real estate market is seeing big deals being struck once again in the top cities. In one of the largest leasing deals in the country, Deloitte is close to signing up 1.4 million sq ft of office space in Hyderabad for its BPO business. This isn’t the only 1 million sq ft plus [...] Continue Reading »
