Brigade Enterprises has chalked out plans to launch another 8.2 million sq. ft of office and retail space in cities such as Bengaluru and Chennai over the next three years. It already has a partnership with Singapore-based private equity firm, GIC Singapore.
In Sushant Lok 1 too, residents expressed similar sentiments. “We just hope that all hurdles are removed and MCG starts work immediately. There are no good roads or functional lights here. The sewer lines are overflowing,” said Neelu Sharma, a resident.
Overall in 2018, Delhi’s office market recorded gross absorption of 770,000 sq ft while Gurugram witnessed gross absorption of 5.4 million sq ft. NOIDA’s office market witnessed record leasing activity in 2018 at 3.9 million sq ft.
Aviation sources said the new deadline too would be impossible to meet. Tenders for construction of the airport haven’t been awarded yet. Also, land for construction of airport hasn’t been entirely procured.
According to divisional commissioner Anita Meshram, the administration had sent its report on the land to the state government under Section 19 of Land Acquisition Act. The acquisition will start once the notification is issued.
The report also highlighted the limited availability of space in operational well-performing malls coupled with an upward pressure on real estate costs in these centers, as a concern for brands looking to enter the Indian market.
The company’s consolidated net profit for the half year ended in September rose 45% to Rs 121.8 crore, up 45% from a year ago. Revenue for the first half of the financial year rose 7% to Rs 817.9 crore.