REAL ESTATE NEWS

Gurugram: Over 400 buyers of Mahindra Aura protest against misuse of funds

  • ET Realty Residential
  • 22nd Apr, 2019

Aura residents said they had brought a no-confidence motion and dissolved the current RWA by calling a special general body meeting on September 16 last year, but the RWA continues to hold financial powers.

Rajasthan government amends rules to treat municipal waste in housing units

  • ET Realty Residential
  • 22nd Apr, 2019

All group housing schemes and buildings of more than 5,000sqm in area are liable to ensure segregation of biodegradable waste at source.

Chandigarh: Foswac smells scam in property tax notice

  • ET Realty Residential
  • 22nd Apr, 2019

Federation chairman Baljinder Singh Bittu said the MC had sent the notices without caring to see if the receivers had paid their property tax already.

The DIY route to redevelopment

  • Hindustan Times
  • 20th Apr, 2019

Self-redevelopment is more feasible for housing societies in Mumbai now, thanks to easier norms for loans and sanctions.

Mumbai's Prarthana Enterprises to hand over Lower Parel flat after 12-year delay

  • ET Realty Residential
  • 20th Apr, 2019

The commission refused an offer by the builder, Prarthana Enterprises, to refund Rs 64 lakh paid as booking amount, saying that problems faced by the builder in completing construction were not the buyer's concern.

SARE Group took 95% payment but delaying handover, say buyers

  • ET Realty Residential
  • 20th Apr, 2019

Most of the homebuyers had booked their flats in 2012 itself and the developer had promised to give possession in December 9, 2015.

Prestige Estates plans to expand retail presence to 15 malls

  • ET Realty Retail
  • 19th Apr, 2019

With consolidation of its stake in malls across the country almost over, Prestige Estates is now eyeing a rental income of Rs 400 crore annually from its retail ventures.

United Bank of India cuts MCLR by 5 basis points

  • ET Realty Residential
  • 18th Apr, 2019

The one-year MCLR is the benchmark against which most of the consumer lending, such as auto, personal and home loans, are priced.

Kochi: ‘Provide water connection to individual flat owners’

  • ET Realty Residential
  • 18th Apr, 2019

The water authority considers an entire apartment complex as a single unit and provides only one water connection.

As Mumbai water stock dips, housing societies shut pools

  • ET Realty Residential
  • 18th Apr, 2019

For instance, Sion’s Vasanti Apartments has shut its pool for a month while Splendor Township in Navi Mumbai has kept its pool closed for the past couple of months.

DDA housing scheme enters last leg, interest for Narela lags

  • ET Realty Residential
  • 18th Apr, 2019

This time all applications are coming through banks and many banks have not forwarded all applications yet, he added.

WeWork pulls out of talks to take on more Hong Kong space: Sources

  • ET Realty Commercial
  • 18th Apr, 2019

Two sources with direct knowledge of the matter said WeWork in Hong Kong pulled out of talks on most of the space it had planned to secure after failing to get budget approval.

Prestige Estates Projects acquires Babji Realtors for Rs 364 crore

  • ET Realty Retail
  • 17th Apr, 2019

J. Sagar Associates (JSA), a law-firm, advised and assisted in the acquisition, the company said in a media release.

Bylaws for Purana Qila, two others may impose 10 meter height restrictions

  • ET Realty Residential
  • 17th Apr, 2019

The bylaws for Purana Qila will for the first time address the issue of maintaining the heritage sanctity of the area and will have height restrictions for all the government colonies in a 300m radius of the monument.

Indian Hotels partners Mahagun Group for expansion in Greater Noida

  • ET Realty Hospitality
  • 17th Apr, 2019

The new Vivanta branded hotel is a greenfield project and will be a part of the landmark Mahagun Marina Walk - a large mixed use project with destination retail and commercial spaces, the company said.

Hyderabad surpasses Bengaluru to emerge as dominant office market in Q1 2019

  • ET Realty Commercial
  • 17th Apr, 2019

In the first quarter, Hyderabad witnessed leasing of 3.5 million sq ft against 1.1 millon sq ft a year ago, while leasing in Bangalore declined to 2.5 million sq ft from 5.5 million sq ft.

RBI bids for Air India’s iconic Nariman Point tower

  • ET Realty Commercial
  • 17th Apr, 2019

The central bank is learnt to have offered 10 years’ lease rental as advance payment according to a top reliable source.

Boeing India arm picks up office space in Bengaluru

  • ET Realty Commercial
  • 15th Apr, 2019

The company is currently undertaking fit-outs at the newly leased office and is expected to start operations from this premise from July.

Better than 2018, but still a lacklustre Gudi Padwa for the realty sector

  • Hindustan Times
  • 13th Apr, 2019

Boomtime incentives like cars and gold coins remain a thing of the past. Experts explain why business is up, but only just.

IHCL signs formal agreement with NDMC for Taj Mansingh

  • ET Realty Hospitality
  • 12th Apr, 2019

NDMC officials said starting April 11, NDMC will get 32.5 % more revenue as against about 17.25 % under the previous terms and conditions for hotel Taj Mansingh.

Bengaluru is largest officer market in Asia-Pacific: Report

  • ET Realty Commercial
  • 12th Apr, 2019

Bengaluru has held this position for the past few years as more global companies set up captive technology and back-office centres, attracted by the city’s talent.

NCLT gives Hotel Leela, JM Financial time till May 28 for settlement

  • ET Realty Hospitality
  • 11th Apr, 2019

On March 18, Brookfield Asset Management Company had agreed to acquire four hotels and a land parcel in Agra from Hotel Leelaventure for consideration Rs 3,950 crore. The deal is yet to go through.

Office realtors upbeat as leasing activity rises

  • ET Realty Commercial
  • 11th Apr, 2019

The total gross leasing volume in India touched almost 13 million sq ft during the first quarter of 2019, which is 1.45 times higher than the corresponding quarter of last year, showed data from Cushman & Wakefield India.

PEs bet on Hyderabad office real estate

  • ET Realty Commercial
  • 11th Apr, 2019

The city saw a sudden burst in investments in 2018, attracting more than $1.1 billion of private equity, a more than three-fold increase in investments compared to the collective previous threeyear period, according to ANAROCK Property Consultants.

Mumbai: Last two buildings stand in way of Colaba-Seepz metro

  • ET Realty Infrastructure
  • 8th Apr, 2019

The Metro Rail Corporation (MMRC) has taken over 30 buildings on the stretch for the project and 28 have already been vacated.

Eccosphere plans to invest Rs 12 crore in next six months

  • ET Realty Commercial
  • 8th Apr, 2019

​The company plans to open four new centres in NCR by 2019-end all of which will be based on revenue-share model.

Salarpuria Sattva partners with Colive with a USD 9.2 million Series A funding

  • ET Realty Commercial
  • 8th Apr, 2019

Colive plans to expand its presence in Hyderabad, Mumbai and Pune.

To sell or not to sell

  • Hindustan Times
  • 6th Apr, 2019

Pre-used homes have been a steady segment, even in recent years. But that may not mean it is time to sell. Calculate your timelines and returns with precision

Mylapore residents protest Chennai metro's land acquisition move

  • ET Realty Infrastructure
  • 6th Apr, 2019

On Friday, more than 50 residents gathered in a hall on the TTK Road to discuss CMRL’s plans to acquire land in these roads for the construction of phase-2 of metro rail network.

BMC issues six notices to Hotel Leela over illegal construction

  • ET Realty Hospitality
  • 5th Apr, 2019

Civic officials said while the outer walls were found as per plan, several unauthorised changes had been made internally without requisite permission.

Mumbai Port Trust asks 40 tenants of Fort building to move in 15 days

  • ET Realty Commercial
  • 5th Apr, 2019

​​The eviction order has been issued by the port trust's estate officer. Engineer building, an 85-year-old structure, on Shahid Bhagat Singh Marg, houses six residences and 34 commercial establishments.

Radisson Hotel Group plans to double India portfolio by 2022

  • ET Realty Hospitality
  • 4th Apr, 2019

The company, which enjoys an occupancy rate of over 67 percent, said it signs 12-15 hotels every year and opens around 7-10 hotels each year.

Pune: MahaMetro gets 8.2 acres of defence land in Khadki cantonment board limits

  • ET Realty Infrastructure
  • 2nd Apr, 2019

The land is currently under the management of Director General Ordnance Factory (DGOF) and is spread across five land surveys in the Khadki Cantonment Board (KCB) limits.

MahaMetro yet to pay for land in Mihan: RTI

  • ET Realty Infrastructure
  • 2nd Apr, 2019

​​A response to a RTI query by activist Abhay Kolarkar revealed Maharashtra Airport Development Company (MADC) developing the project has to collect over Rs252 crore from entities allotted land in the Special Economic Zone (SEZ) and non-SEZ parts of Mihan.

Xander-backed Virtuous Retail in talks to acquire two malls from Tata Realty

  • ET Realty Retail
  • 1st Apr, 2019

TRIL will be exiting the two mall properties, totaling 1.15 million square feet, in Amritsar and Nagpur. TRIL owns 90% stake in these assets.

India's first REIT is here. Now for the way forward

  • Hindustan Times
  • 30th Mar, 2019

A look at how Real-Estate Investment Trusts could impact the realty segment, and your investment outlays.

Hyatt to make room for 14 new properties over next two years

  • ET Realty Hospitality
  • 28th Mar, 2019

This year, Hyatt will launch the 442 keys Grand Hyatt Gurgaon, a Hyatt Regency resort in Kochi Malayattoor (100 keys), its first hill resort in Dharamshala (89 keys).

Lake Shore acquires Hyderabad mall for Rs 1,000 crore

  • ET Realty Retail
  • 27th Mar, 2019

"Phoenix Group will continue to hold around 15% stake in the project (Phoenix Lotus Mall) and the Irish fund Lotus will exit the project," said one person aware of the matter.

Indian hospitality sector may see many more deals in 2019: Study

  • ET Realty Hospitality
  • 25th Mar, 2019

Hotel transaction volumes could cross $800 million in 2019, the highest for the Indian hospitality industry, HVS Anarock estimates.

Rental agreements are changing with changing CHS norms, lifestyles

  • Hindustan Times
  • 23rd Mar, 2019

As ownership patterns change and luxury facilities become more common, leave and licence agreements are seeing clauses added on aspects such as use of address, use of facilities and more.

Revised plan for Noida-Ghaziabad metro corridor ready

  • ET Realty Infrastructure
  • 20th Mar, 2019

According to the report, the total cost of this line connecting Noida and Ghaziabad has been pegged at Rs 1,866 crore with six stations planned.

Brookfield buys Hotel Leela Venture assets for Rs 3,950 crore

  • ET Realty Hospitality
  • 19th Mar, 2019

The transaction includes assignment of all hotel management contracts currently in operation as well as all under-development, along with the employees of the hotels, it added.

Mumbai: 30 buildings in Girgaum make way for Colaba-Seepz metro-3 corridor

  • ET Realty Infrastructure
  • 18th Mar, 2019

Girgaum’s two-storey Kranti Nagar chawls, once home to 108 families, stand vacant, waiting to be bulldozed for the underground Colaba-Seepz Metro 3 corridor,

Aggregator apps for realty are connecting buyers with multiple service providers

  • Hindustan Times
  • 16th Mar, 2019

New platforms let you search by service, identify plumbers, painters, housing society managers; monitor accounts and keep records too.

NHRSCL invites bids for Rs 20,000 crore bullet train project

  • ET Realty Infrastructure
  • 16th Mar, 2019

​​Sources said the project would cost about Rs 20,000 crore and the successful bidder will have to complete the work in 42 months.

Kolkata: Now, eight buildings come in way of Airport-New Garia metro corridor

  • ET Realty Infrastructure
  • 16th Mar, 2019

Since last October, Rail Vikas Nigam Limited (RVNL), the agency implementing the 32km Metro link, has managed to build nearly 200 metres of viaduct — from piers 302 to 309 — opposite Captain Bheri.

Brookfield-led InvIT to raise Rs 6,400 crore via bonds

  • ET Realty Infrastructure
  • 12th Mar, 2019

The bonds, maturing in five years, are likely to be priced in the range of 9.25-9.60%, sources said. ICICI Bank and Axis Bank are helping arrange the bond sale.

InvITs in a fix as banks refuse to extend loans

  • ET Realty Infrastructure
  • 12th Mar, 2019

An InvIT offers an opportunity to promoters of projects to sell their stake in completed projects to the trust, which in turn can raise long-term and tax-free funds from unit holders.

Commercial real-estate is on the up and up, with new hotspots emerging

  • Hindustan Times
  • 9th Mar, 2019

Despite realty overall being sluggish in the last two years, the office segment has continued to grow.

Pune: Nitesh Estates sells its 1-million sq ft shopping mall to Era Realty

  • ET Realty Retail
  • 8th Mar, 2019

Late January, Nitesh Estates had announced its intention to reduce the overall debt by an around Rs 700 crore within 180 days.

Slash in GST has buyers hopeful but experts ask to read between the lines

  • Hindustan Times
  • 6th Mar, 2019

There is still no clarity on some key factors, such as whether there will be a corresponding change in levies on input materials like cement and steel.

Tips and tricks to help home-buyers in the new financial year

  • Hindustan Times
  • 6th Mar, 2019

Amid a host of new policies on real-estate, and ahead of a new financial year and a general election, experts say the months ahead can be a mixed bag if you aren’t paying close attention.

Bird Group to open three hotels in India in next 3-4 years

  • ET Realty Hospitality
  • 6th Mar, 2019

The group currently has six properties with three of them in India including the recently launched Roseate Ganges in Rishikesh and three in the United Kingdom.

Vatika Hotels in talks with PEs to raise Rs 750 crore for expansion

  • ET Realty Hospitality
  • 6th Mar, 2019

Looks to use funds for expansion of its verticals including hospitality, facilities management & business centres.

Mumbai: Wadhwas to redevelop Chandan Cinema into mixed-use complex

  • ET Realty Retail
  • 27th Feb, 2019

The Wadhwa Group and the owner of Chandan Cinema, Sameer Joshi, have agreed to develop the premises of the 45-year-old theatre into a retail and commercial complex.

Hotel chains are branching out into smaller cities. Here's why

  • Hindustan Times
  • 19th Feb, 2019

They are cashing in on new IT hubs, a richer local population and increased tourism.

Organised Indian retail to capture 19% market share by 2020

  • ET Realty Retail
  • 23rd Jan, 2019

According to Anarock Property Consultants, around of 39 mn sq. ft. retail spaces coming up between 2019-2022, 71% in metros & Tier 1 & 29% in Tier 2 & 3 cities.

Pune cantonment board threatens to close SGS mall over Rs 31 crore property tax dues

  • ET Realty Retail
  • 19th Dec, 2018

“The mall’s annual property tax bill is in the range of Rs5-6 crore. It has dues pending since 2011. The mall owner paid Rs7 crore, but Rs31 crore dues is pending,” a PCB official said.

Retail sector to witness addition of 13.5 million sq ft space in 2019: Anarock

  • ET Realty Retail
  • 17th Dec, 2018

Among the major metros, both Bengaluru and NCR are expected to see seven operational malls in each city, followed by five in Hyderabad, three in MMR and one in Chennai, said the data.

Phoenix Mills transfers Insight Mall Developers equity to Island Star Mall Developers

  • ET Realty Retail
  • 12th Dec, 2018

Insight Mall Developers now a step-down subsidiary of Phoenix Mills