Real Estate News

Gurugram: Housing societies residents caught between constituencies

ET Realty Residential
17th Oct, 2019

For about four years, the residents of Antriksh Heights have been living in ‘no man’s land’. The highrise lies right along the border of the Pataudi and Badshapur constituencies. But instead of getting the best of both, it has ended up getting nothing from either.

New high-rise housing project for MLAs in Odisha

ET Realty Residential
17th Oct, 2019

Nearly 150 flats of type-VII category will be constructed as part of the high-rise building project.

Maharashtra government sanctions 13 lakh tenements

ET Realty Residential
17th Oct, 2019

The picture is better in rural areas, where possession of 3.6 lakh homes (out of 4.5 lakh sanctioned) has already been given, said sources in the Union ministry for rural development.

New township to come up in Kalladi for landslide victims

ET Realty Infrastructure
17th Oct, 2019

Officials said an eco-friendly township, which will have solar power and rainwater harvesting, is envisaged to rehabilitate the 103 families who had lost their houses in the landslide on August 8.

Green nod mandatory for Thiruvananthapuram's Taurus Downtown expansion: NGT

ET Realty Infrastructure
17th Oct, 2019

The Taurus Downtown is a major upcoming project, which aims to set up world class IT space and social infrastructure within Phase-3 of Technopark.

Brookfield acquires Hotel Leelaventure's business

ET Realty Hospitality
17th Oct, 2019

Around 89 per cent of Leela's shareholders had voted in favour of the deal.

Commercial realty leasing touches 47 million sq ft in Jan-Sep 2019

ET Realty Commercial
17th Oct, 2019

With this, office leasing activity is now expected to touch its highest level ever, estimated to be over 60 million sq ft in 2019.

SoftBank plans $5 billion rescue financing for WeWork

ET Realty Commercial
17th Oct, 2019

The fund will come directly from SoftBank and not from the company’s Vision Fund. Masayoshi Son was instrumental in ousting WeWork’s controversial co-founder Adam Neumann, but is convinced the once high-flying startup can be turned around.

German banks cool on UK office lending as Brexit chaos bites

Hindustan Times
16th Oct, 2019

According to Nicole Lux, author of a survey conducted by the Cass Business School, German lenders accounted for 8% of new loans in the first half, down from 12% a year earlier and 16.7% in the first half of 2016, before the UK voted to leave the European Union.

MP government relaxes license norms for real estate sector

Hindustan Times
16th Oct, 2019

Madhya Pradesh government on Tuesday approved a proposal to reduce the number of documents needed to get government permission for projects from 27 to five and allowed real estate companies to have one licence for the entire state.

Blackstone-owned Nexus, Prestige in talks to merge mall business

ET Realty Retail
16th Oct, 2019

If the talks fructify, it will create the largest mall operator in the country and the people said the combined entity could be listed as a real estate investment trust (REIT) as part of the plans.

Can’t force builders in Gurugram for permanent lines: DHBVN

ET Realty Residential
16th Oct, 2019

Aggarwal also pointed out that the developers of these societies had taken temporary electricity connections from 11kv feeders, which is a commercial connection given by the DHBVN for carrying out construction work.

Hundreds of societies in NCR looms in uncertainty over diesel genset ban

ET Realty Residential
16th Oct, 2019

Unlike Delhi, which was able to shut down DG sets last year and can do it again this year, NCR cities don’t have reliable, round-the-clock power supply and bank heavily on gensets.

Chandigarh Housing Board fails to hand over 200 flats to allottees

ET Realty Residential
16th Oct, 2019

The allottees have demanded monthly interest on the money deposited by them for these flats.

Maradu flat owners demand Rs 25 lakh compensation as promised

ET Realty Residential
16th Oct, 2019

The flat owners said that they were evicted on the promise of a compensation of Rs 25 lakh each and the government should keep the word.

MGM Resorts to sell Bellagio, Circus Circus resorts for about $5 billion

ET Realty Hospitality
16th Oct, 2019

Blackstone Real Estate Income Trust will acquire the Bellagio for $4.25 billion through a 95-5 joint venture with MGM and will lease it back to a unit of the casino company for an initial annual rent of $245 million.

Omaxe in talks to raise Rs 400 crore for Delhi project

ET Realty Commercial
16th Oct, 2019

Omaxe, in this public-private partnership (PPP) project with North MCD is developing a multi-level parking-cum-commercial centre in Delhi’s Chandni Chowk.

Chandigarh Housing board cancels allotment of nine small flats in Dhanas

ET Realty Residential
15th Oct, 2019

The Chandigarh Housing Board (CHB) had given August 31 deadline to 227 small flat allottees, who failed to clear their pending dues.

SC-appointed panel sanctions compensation packages to 14 Maradu flat owners

ET Realty Residential
15th Oct, 2019

of the 14 sanctioned claims, only 3 flat owners will be eligible for Rs 25 lakh interim compensation.

Convenience stores to be only allowed inside societies in Ghaziabad

ET Realty Residential
15th Oct, 2019

GDA vice-chairperson Kanchan Verma said such shops are meant only for society residents, but the rule is never followed and they are thrown open for outsiders.

Bhopal civic body clueless as prime land worth Rs 500 crore is fenced off

ET Realty Commercial
15th Oct, 2019

The land is part of the last remaining green belt in the commercial zone. It was first encroached upon in October 2018.

JPMorgan races to add rescue financier to slew of WeWork roles

ET Realty Commercial
15th Oct, 2019

JPMorgan funds are among We Co.’s largest shareholders, trailing only SoftBank Group Corp., the company’s co-founders and venture capital giant Benchmark Capital.

Ascendas India to buy office building for Rs 750 crore in Bengaluru

ET Realty Commercial
15th Oct, 2019

A forward purchase deal is an agreement where the buyer pays an advance to the seller to buy the developed property at a future date.

World's first major co-living fund seeks $825 million in pledges

Hindustan Times
14th Oct, 2019

The venture is seeking 650 million pounds ($825 million) in commitments and plans to invest in six to 10 projects in London.

Railways may get Rs 7,500 crore under transit oriented development scheme

ET Realty Infrastructure
14th Oct, 2019

The railways had expected to make Rs 5,000 crore from the land parcels before the TOD policy was approved in Delhi.

SoftBank seeks control of WeWork through financing package: Source

ET Realty Commercial
14th Oct, 2019

Reuters had reported that SoftBank was in negotiations to make a $1 billion investment to enable WeWork to go through a major restructuring.

CRDA readies revised plan for stalled projects in Amaravati

ET Realty Infrastructure
12th Oct, 2019

The CRDA is believed to have come to a conclusion that it is better to resume works on the new secretariat and the directorates and commissionerates (HoDs) complex by drastically cutting down the structural requirements.

India's poshest areas? Data reveals Tardeo and other surprises

Hindustan Times
11th Oct, 2019

While Tardeo ranks high on the list of India’s most expensive property, neighbourhoods from Chennai, Hyderabad, Bangalore, Delhi and Pune also make it to the list.

Hong Kong urges property developers to cut rent for retailers

ET Realty Retail
11th Oct, 2019

On Tuesday, Lam said the number of tourists to Hong Kong in the first week of October, when China celebrated its National Day holiday, plummeted more than 50% from a year ago.

Ahmedabad development body plans to spend Rs 1,431 crore on infrastructure

ET Realty Infrastructure
11th Oct, 2019

In addition, the urban development body has also sought a soft loan of Rs 2,800 crore from Asian Development Bank (ADB) to fund its future projects.

London's Ritz hotel could be up for sale for $1 billion

ET Realty Hospitality
11th Oct, 2019

Today, it offers its well-heeled global clientele 111 rooms, 25 suites, a range of bars and restaurants and the Palm Court, where an elaborate afternoon tea is served and men have to wear ties.

WeWork India plans to raise about Rs 1,400 crore

ET Realty Commercial
11th Oct, 2019

“WeWork India has grown faster than any other global locations. We are in talks with global and domestic investors to raise money, mostly as structured debt,” said Jitu Virwani, chairman, Embassy Group.

IL&FS to sell 2.78 lakh sq ft commercial space in Kohinoor Square

ET Realty Commercial
10th Oct, 2019

The Dadar property, which comprises 18 units, is part of 129 units of residential and commercial property adding up to 4.85 lakh square foot developed area that the group is selling.

Five architecture firms submit bids for Central Vista redevelopment

ET Realty Infrastructure
9th Oct, 2019

Sources said the five firms will now make a detailed presentation before a jury for short-listing. “We will select the firm before Diwali so that it can start work,” Union housing and urban affairs secretary Durga Shankar Mishra said.

Housing society can't be forced to participate in cluster development: Bombay HC

Hindustan Times
8th Oct, 2019

The bench was hearing a petition filed by Jawahar Jyoti co-operative housing society at Panchpakhadi in Thane challenging resolution passed Thane Municipal Corporation (TMC) in its general body meeting on December 10, 2018.

WeWork's financing lifeline hinges on SoftBank talks

ET Realty Commercial
8th Oct, 2019

SoftBank founder and CEO Masayoshi Son publicly backed WeWork in an interview with Nikkei Business magazine this week, saying in 10 years the company would be "making substantial profits."

Varanasi: About 13 owners refuse to sell property for Kashi Vishwanath Dham

ET Realty Infrastructure
7th Oct, 2019

The Sri Kashi Vishwanath Area Special Development Board (SKVASDB), on Sunday, started survey of 13 buildings identified for acquisition in the proposed Kashi Vishwanath Dham (corridor) area as their owners have yet not agreed to sell them.

Ritesh Agarwal to invest $700 million in Oyo's new $1.5 billion financing round

ET Realty Hospitality
7th Oct, 2019

It plans to raise about 1.5 billion dollars (about Rs 11,666 crore) as part of a new financing round as the startup looks to expand its footprints in the United States and Europe.

Shaped by the Metro: How connectivity boots real estate

Hindustan Times
5th Oct, 2019

While we see a rising number of Indian cities improving connectivity by opting for MRTS, let’s look at the pros and cons linked to the new transit system.

Nagpur civic body auctions Poonam Mall, gets no bids

ET Realty Retail
5th Oct, 2019

The mall was developed and being operated by Indo Pacific Infrastructure Private Ltd since 2013.

Agra smart city works delayed due to unreleased funds

ET Realty Infrastructure
3rd Oct, 2019

There are 26 departments which are required to contribute in the funding and implementation of the Smart City projects. Municipal commissioner Arun Prakash, who is also the ASCL CEO, has now asked the departments to cooperate in the Smart City project works.

About 20 companies show interest to develop Jewar airport

ET Realty Infrastructure
2nd Oct, 2019

While the last date to file a tender for the project is October 30, technical bids will be opened on November 6, and financial bids will be opened on November 29.

Prestige Group inks JV with DB Realty to develop hospitality-led project in Delhi

ET Realty Hospitality
1st Oct, 2019

The 50:50 joint venture will develop total 2 million sq ft project with total 932 hotel rooms, 6.45 lakh sq ft office space apart from a 2 lakh sq ft convention centre.

Mumbai: Pantaloons leases 1.1 lakh sq ft Piramal Agastya

ET Realty Retail
30th Sep, 2019

Piramal Realty claims that over 50 % of space is occupied at the corporate park.

Land hurdles may further delay Bengaluru metro phase-II

ET Realty Infrastructure
30th Sep, 2019

“For lands required for Mysuru Road-Kengeri, Nagasandra-BIEC and Yelachenahalli-Anjanapura corridors, Karnataka Industrial Area Development Board (KIADB) has to fix compensation,” saida BMRCL newsletter.

Oravel Stays sets up two joint ventures with SB Topaz

ET Realty Hospitality
26th Sep, 2019

Separately, the Gurugram-headquartered company has also set up a third entity Oyo Financial and Technology Services

SAT allows Hotel Leela's asset sale to Brookfield

ET Realty Hospitality
26th Sep, 2019

On Thursday, appellate tribunal, presided over by Justice Tarun Agarwala, CKG Nair and MT Joshi in its oral order rejected the plea filed by ITC that challenged the Sebi order.

A deep dive into SAMHI Hotels' proposed IPO

ET Realty Hospitality
26th Sep, 2019

The net worth of SAMHI Hotels dipped 40% in Q1 FY20. Its net worth was Rs 479.13 crore in Apr-Jun 2019 while its net worth was Rs 792.77 crore in the similar quarter last year.

SAMHI Hotels files for Rs 2,000 crore IPO

ET Realty Hospitality
25th Sep, 2019

As per the DRHP, the fresh issue will be of Rs 1,100 crore and the Offer for Sale (OFS) will be of 19,145,624 equity shares.

A $135 million bond payment is late and stuck in Argentina

Hindustan Times
14th Sep, 2019

Under the new currency rules imposed by the government to try to staunch dollar outflows and stabilize the peso, the cash couldn’t be sent to creditors’ overseas accounts.

Harlem property investor who could've been rich may lose it all

Hindustan Times
14th Sep, 2019

Two Harlem properties that Allard bought in the 1980s -- 239 Lenox Ave., three blocks from a new Whole Foods -- and 32 W. 120th St., across from Marcus Garvey Park -- were sold at a foreclosure auction for a combined total of $5.5 million.

Ghaziabad development body may give nod to shops in residential areas

ET Realty Retail
14th Sep, 2019

A proposal to this effect is being prepared by the GDA, which will be sent to the state government for approval and following that a conditional consent could be granted.

Hong Kongers troubled by unrest look for new homes abroad

Hindustan Times
13th Sep, 2019

Authorities in Malaysia, Australia and Taiwan have reported spikes in migration enquiries, and property agents from Melbourne to Vancouver say their phones are running hot.

Hong Kong leader to focus on housing, jobs to try to appease protesters

Hindustan Times
13th Sep, 2019

The spark for the protests that have rocked the Asian financial hub was a now-withdrawn extradition bill and concern Beijing is eroding civil liberties, but many young protesters are also angry at sky-high living costs and a lack of job prospects.

Oyo buys Jaipur hotel from Emaar Group for about Rs 40 crore

ET Realty Hospitality
12th Sep, 2019

A brand of ITC’s hotel division, Fortune has several categories of properties. Fortune Select are four and five-star properties in business locations in metros, and key leisure locations.

Mumbai: IKEA to lease nearly one lakh sq ft in R City Mall

ET Realty Retail
26th Aug, 2019

IKEA is known for its massive stores. However, the company is likely to approach Mumbai, the country’s most expensive realty market, with a different plan.

Over 100 shop owners of Indirapuram Habitat Centre approach UP-RERA to revive project

ET Realty Retail
16th Aug, 2019

The authority has ordered the builder to provide a list of allottees in phase-1 for registration of sub-lease deed while the IHC buyers' association has been asked to give a representation for attachment of rent that the builder is receiving from tenants in the project.

Retailers look for rental relief as slowdown bites

ET Realty Retail
8th Aug, 2019

With consumer sentiment at a low and sales sluggish, retailers are looking at renegotiating rentals as part of their cost-cutting measures.

Outage hits around 15 Ansal mall shops in Gurugram

ET Realty Retail
30th Jul, 2019

They claimed that though they had already paid their maintenance charges for the past 11 years, the mall is in a bad shape.

Tamil Nadu Housing Board to construct mall in Ashok Nagar

ET Realty Retail
21st Jul, 2019

An artist’s impression of the multi-storey building coming up near the Ashok Pillar was published in the policy note of the housing and urban development department and unveiled in the legislative assembly on Saturday.

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