Group buying site Groffr acquires Mobstreet.in
Mumbai-based RCSPL, which owns group buying portal for real estate GrOffr.com, has acquired Mobstreet.in, a company which was officially shut down in December 2010 due to lack of funds.
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Singapore realtor parts ways with Indian partner
Four years after Singapore-based Ascott Ltd, a serviced residence operator, entered India, it has decided to part ways with its local partner in a bid to speed up expansion plans and have more control over its proposed projects.
Realtor and Raja aide found dead
Sadiq Batcha, a longtime friend and associate of A Raja and managing director of a real estate company, Green House Promoters, in which Raja’s wife Parameswari was associated as one of the directors and later resigned, has been found dead.
CREDAI Tamil Nadu says commercial realty going up
Confederation of Real Estate Developers’ Associations (CREDAI) Tamil Nadu unit has said that enquires for commercial real estate property has picked up in the last couple of months following decent growth in the IT industry.
Tata Realty buys Kotak Real Estate Fund in Peepul Tree
Tata Realty Initiatives Fund-I, managed by Tata Realty and Infrastructure Ltd, has bought over Kotak India Real Estate Fund-I, a $100 million (Rs.450 crore) fund managed by Kotak Realty Fund in Peepul Tree Properties Pvt. Ltd for Rs.385 crore.
Oversupply of retail space set to keep rentals under pressure
A mammoth increase in planned supply of retail malls in India will increase retail companies’ bargaining power vis-à-vis real estate developers.
Tata Housing to invest 3000 crore on affordable housing
Tata Housing Development Company would invest up to Rs 3,000 crore next fiscal to develop affordable homes across the country. The company already has five projects in the affordable segment and plans to launch 7-8 more projects next fiscal.
Pune Home Department reconsidering land deal with DB Realty
In a change of stance, the state home department has decided to look into its own move to shift out the Yerawada police station on the Pune-Ahmednagar road and allow commercial exploitation of the three-acre plot on which it stands.
DLF Brands venturing into home furnishing market
DLF Brands, part of real estate company DLF, is venturing into the home furnishing segment. It aims to launch 30 home solution stores under the brand name ‘Pure Home+Living’ in the next three years at an investment of Rs 200 crore.
Vascon Engineers Q3FY11 consolidated revenue up 36% at Rs 215.82 cr
Vascon Engineers Ltd, a Real Estate and EPC company, on a consolidated basis recorded a revenue of Rs. 215.82 crore for Q3FY11 as against Rs.158.60 crore in the corresponding quarter last year; marking a growth of 36.08%.