Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
Tata housing has bid to buy US consulate buildings in Mumbai, according to the sources close to the development. “Negotiations are at an advanced stage and the deal is expected to be concluded in less than a month,” said the source.
The world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
According to the 2011 census, the Mumbai Metropolitan Region has over 23.5 million people. To house this population on the ground floor, assuming a household size of 4 and dwelling units of 900 sq ft per family which are laid wall to wall, we would need 121,384 acres of contiguous land.
Maharashtra Chamber of Housing Industry (MCHI) has made a representation to the Union Environment Minister Jayanti Natrajan, complaining about delays in getting green clearances from the state expert appraisal committee.
Asia Pacific office markets may be resilient but definitely not immune to the euro crisis, says the latest report of DTZ.
In the wake of the real estate community under the industry body CREDAI, asking for only self-regulation and no government regulator, the Union Urban Development Minister Kamal Nath has bluntly refused to heed to any such fancy thoughts.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
DTZ Research estimates that US$316bn of capital will be available to invest in global real estate in 2012, a 4 per cent decrease on its previous estimate at the end of 2010.
Regus, the provider of workplace solutions, has announced opening of a new business centre in Hyderabad.