Chennai
Venture fund Fulcrum Venture India has exited from real estate firm Casa Grande. Fulcrum got back return of over 10 times as they had invested Rs 4.8 crore in FY 2004 and have exited at Rs 50 crore. Chennai-based Casa Grande was launched in 2004 by M Arun Kumar and KR Anerudan. It builds luxury [...] Continue Reading »
The nerve center of Chennai, Anna Salai has the maximum number of high-value property tax evaders. Most of the properties in the city corporation fall into the tax defaulters list. About 50 properties of Anna Salai fall under the top 50 tax arrears list and the tax arrears of each of these properties range between [...] Continue Reading »
Chennai office market has changed in nature as it has shifted from being absolutely IT/ITES dominated to more diversified occupier base. According to a survey by Knight Frank India, emergence of newer sectors have boosted the city’s office market. Although IT/ITES sector continues to be affected by economic constraints, leasing levels should remain firm and [...] Continue Reading »
Mumbai has topped the office space absorption across cities in Q3 of calendar 2012. Real estate consultancy Cushman & Wakefield reported that the total office space off-take was 2.23 million sqft (msf) in Q3, which has increased by more than 50 per cent over the previous quarter. Chennai was second with 1.32 msf in office [...] Continue Reading »
Chennai-based VGN Developers has tied up with a foreign private equity fund, Pragnya PE Fund to launch a residential project in Chennai. Both entities have floated VGN Pragnya Realty Pvt Ltd to develop a 5.6-acre residential project, VGN Hazel, near Poonamallee, a suburb about 25 km to the west of Chennai. The residential project will [...] Continue Reading »
Aakruthi Developers are a distinguished developer who has been known for providing inspiring home spaces in exceptional settings. Whether it be a standard, semi-deluxe or deluxe apartment, Aakruthi develops the living space with utmost care and skill. Along with building a satisfied customer base in Hyderabad and Bangalore, now the real estate firm has entered [...] Continue Reading »
As power deficit is taking a toll on the economy of the state, the Tamil Nadu government is planning to make it mandatory for major industries, high-rise apartment complexes, major institutions and hotels to meet two per cent of their energy needs from solar sources. The decision has come after a consultation with Tamil Nadu [...] Continue Reading »
Virtuous Retail (VR), a retail real estate company sponsored by global investment firm, The Xander Group Inc., is developing a pan-India portfolio of retail, lifestyle and community centers. VR is currently building eight large format retail shopping centers in city center locations across India. Majority of these are expected to be operational by 2015. Virtuous Retail’s [...] Continue Reading »
Realtors are expected to come up with a high number of project launches this festive season. Faced with uncertain demand, the past two years have seen limited project launches by real estate companies. However, it looks to change as this year, as developers have decided to launch slew of projects to generate momentum and cash [...] Continue Reading »
The private equity arm of Housing Development Finance Corporation (HDFC), HDFC Property Fund, plans to raise a $500-million real estate off shore fund by the end of 2012. The company is planning to raise the capital in a single close deal and is in talks with sovereign funds, including Government of Singapore Investment Corporation (GIC) [...] Continue Reading »
