Track2Realty-Agencies: Two men, one of them a history-sheeter on Pune Rural Police records, sustained bullet injuries after four people opened fire at them in at Avdhut arcade office of Rajhans Real Estate, Patilbaugh in Wadgaon Budruk on Pune-Bangalore highway on Saturday, Oct 6.
Track2Realty: The allegation that businessman Robert Vadra and real estate giant DLF have deep illicit links, where Vadra was given an interest-free loan from DLF, which also sold him vast amounts of property at hefty bargains in return for favours from the Congress, could not offer evidence of a quid pro quo.
Track2Realty: Cushman & Wakefield estimates commercial office space demand of over 180 million square feet (msf) in the next five years (2012 – 16) in the top 8 cities of the country. This was released in the annual publication entitled “Evolving Paradigm – Future of Indian Real Estate” in association with Global Real Estate Institute (GRI) at their India Summit 2012. The report also estimates the total expected supply for the next five years in these eight cities as 219. 6 million sqft, basis announced projects and current pace of construction; indicating a condition of excess supply in the coming few years.
Track2Realty-Agencies: Two private equity funds, Citi Property Investors and JPMorgan Chase, have initiated separate arbitration proceedings against BPTP on the grounds that it has failed to provide a time-bound exit for their respective investments in the company.
Track2Realty: The total new demand that could be generated for residential dwellings in the period 2012 – 16 will be 11.8 million units across India, says a new report by Cushman & Wakefield. Of the total additional demand, the top 8 cities will be constituting 18% or 2.1 million units across categories. The annual report “Evolving Paradigm – Future Of Indian Real Estate” is in association with Global Real Estate Institute (GRI).
Track2Realty-Agencies: India has launched an ambitious Rs 1,300 crore housing project in northern Sri Lanka to build brand new homes for about 43,000 ethnic Tamil families displaced due to the civil war in the country.
Track2Realty-C&W: NCR registered absorption of 1.2 msf in Q3, 2012 and which was 14% lower when compared to the previous quarter due to cautious approach by the companies. IT/ITeS and consulting firms continue to be among the largest occupiers taking up spaces in excess of 200,000 sf each across Gurgaon and Noida, says office market report from real estate consultancy Cushman & Wakefield.
Track2Governance-Agencies: The Enforcement Directorate (ED) has attached properties owned by Emaar MGF, the builder of Commonwealth Games Village in Delhi and several projects in Hyderabad, for alleged violation of Prevention of Money Laundering Act.
Track2Realty-CRIENGLISH: In a country where majority of the people do not have decent homes and the volume of sales of housing units in Indian markets is under pressure,a growing number of Indians are keen to buy homes abroad, particularly in the United Kingdom.
A question that is doing the rounds is, if it is wise to build such large and high-end office spaces, considering the fact that working pattern is tilting towards flexible working hours and many employers are encouraging work from home. This would cut down the need for spending on office staff, expenditures on overheads, maintenance and large office space.