Lease
India’s largest real estate developer DLF leased out three million sq ft of office space, more than half of it is in Gurgaon. The lease rentals has seen stable to healthy increases in various micro markets. A lot of tenants who are completing the 9-year-lease term in DLF CyberCity, Gurgaon, have chosen to renew their [...] Continue Reading »
SBI capital bought the space worth more than Rs. 70 crore from Marathon Realty through a tender process that concluded last week. This office space is for shifting the operations of SBI Cap’s broking subsidiary SBI Cap Securities Ltd (SSL) from its present location and some activities of the investment bank’s operations. The investment bank [...] Continue Reading »
Reality major Unitech has signed a deal with Aricent and Fidelity to lease about one million square feet in Gurgaon Infospace Tikri special economic zone (SEZ). The deal is estimated to be worth between Rs. 1,000 crore and Rs. 1,100 crore. Three million sq ft of the total 3.3 million available space at the building [...] Continue Reading »
The 40% of government leases of the plots in Mumbai have expired long back, some as far back as the 1950s. Of the 1,282 plots leased, the lease of 532 plots had expired and the government has not bothered to renew it. 51.66 lakh sq mt of leased land situated in South Mumbai is fetching [...] Continue Reading »
A public interest litigation (PIL) filed last month by a social activist has grabbed attention in Mumbai. The Mumbai resident moved the Bombay high court over 4,400 leases executed by the BMC, through which nearly 6.48 crore square feet of the city was leased to private entities. The PIL states that most of the land [...] Continue Reading »
The Anti-Corruption Bureau (ACB) will be inquiring Niranjan Hiranandani, the co-founder of Mumbai-based Hiranandani Group, with regard to a criminal complaint case filed against him in connection with suspected irregularities in a housing project. A special court has directed the ACB, while hearing the complaint filed by activist Santosh Daundkar against Hiranandani, for allegedly cheating [...] Continue Reading »
BPTP, a renowned real estate developer has bought Merrill Lynch’s stake in its Gurgaon property. The developer buys 49% of Merrill Lynch stake in the Gurgaon Crest office complex for Rs 180 crore. In 2007, Merrill Lynch had invested Rs 100 crore in the project. Even BPTP has its own office in the same complex. [...] Continue Reading »
Tata Motors Limited (TML) had taken on lease 600 acres of land of Singur acquired for the Nano car project, but shifted to Sanand in Gujarat in October 2008. Calcutta High Court on Thursday told that the establishment need not give notice for taking possession of the disputed land. Counsel for the state Saktinath Mukherjee [...] Continue Reading »
