Lower Parel
In an arbitration petition filed by Tata Capital against Deccan Chronicle Holdings Ltd (DCHL) for recovery of a Rs 101 crore loan, the Bombay High Court has restrained DCHL from selling or disposing of its building in Lower Parel area of Central Mumbai. The High Court also ordered attachment of six accounts of DCHL in [...] Continue Reading »
Mumbai’s real estate market has been going through a dim phase. According to property consultant CBRE’s latest report on office space, vacancy levels in Mumbai’s extended business district Lower Parel have risen to an estimated 46-48 per cent as demand supply gap continued to widen in April-June. Data shows that around 1.1 million sq ft [...] Continue Reading »
The country’s largest real estate developers, DLF has sold its 17.5-acre plot at Lower Parel in Mumbai to Lodha Developers for Rs 2,750 crore, making a profit of over Rs 2,000 crore over seven years. In June 2005, DLF had bought the land in Mumbai in an auction from National Textile Corporation for Rs 702.2 crore. [...] Continue Reading »
While there has been a slight surge in the leasing of prime commercial spaces across key cities in 2012, Mumbai’s commercial market is still witnessing supply exceeding demand. According to a survey by CB Richard Ellis, office space absorption was registered at above 7 million sq ft in the second quarter of 2012, compared to [...] Continue Reading »
Office sales and rentals have plunged by almost a third in the last two years in Mumbai’s alternative financial district of Lower Parel. The reason is a building boom that took place after various mill land sales 4-5 years ago. In the recent years, Lower Parel witnessed launches of nine major projects, creating office space [...] Continue Reading »
Commercial rent trends in the first quarter of 2012 have been idle with rates almost constant, except in some places in major cities of India where there has been a growth. Commercial rents in Lajpat Nagar and Greater Kailash in Delhi have been hopeful as they are preferred choices for commercial renting due to connectivity [...] Continue Reading »
17-acre plot of DLF in Mumbai’s Lower Parel area might be sold at Rs 2900 crore. India’s biggest real estate firm DLF has planned to sale the land to reduce its debt burden. It is said by a DLF official that the Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had [...] Continue Reading »
Even big corporate entities finding it increasingly difficult to afford space in Mumbai. Cheaper property price in Mumbai suburbs driving MNCs and other corporate groups to the suburbs. The recent report by a real estate research firm shows that even big corporate entities are finding it increasingly difficult to rent or buy space in the [...] Continue Reading »
