DLF has said its March quarter consolidated net profit fell 39 per cent on higher interest outgo and it had received an additional tax demand of Rs 457.4 crore from the Income Tax (I-T) Department for the 2009-10 assessment year (AY).
Cognizant Technology Solutions has increased its real estate infrastructure expansion in India by nearly $200 million.
The US-based company, which has large offshore presence in India, has revised its investment plan to a total of $700 million in real estate from 2011 through 2015.
A Parliamentary panel has castigated the government for not establishing industries in almost half the SEZs set up since 2006 and giving the land to realtors, diverting fertile land of farmers.
During the economic downturn of 2008, while the other neighbouring and glamorous property market of Bangalore and Hyderabad fell by 24-29 per cent, the Chennai market fell only 8.3 per cent. Limited supply of land and pent-up demand is how NHB’s Residex defines Chennai property market.
Vibrant cities for vibrant economy-II By: Track2Media Intellisearch Delhi-NCR has…
In the country’s commercial capital, Mumbai, over a dozen large developers and double their number of smaller ones are selling office properties as well, according to Ashok Kumar, Principal and Managing Director of Cresa Partners, a corporate realty services firm.
BPTP is buying back Merrill Lynch’s 49% stake in its Crest office building in Gurgaon for Rs.180 crore. The developer has its corporate office in the same building.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.
Textiles’ major Alok Industries is looking for a Rs.900-1,000 crore deal; discussions with global realty funds, however, is stuck as slowdown upsets valuation matching.
The demand for office space in Chennai is expected to dip, with an expected slowdown in North American and European countries affecting the information technology sector.