After recording significant leasing in 4Q10, Mumbai city witnessed moderate transaction activity in 1Q11 as the major office occupiers of India Inc awaited the impact of budget on their corporate real estate strategy for the next fiscal year.
A day after its Managing Director Vinod Goenka was arrested in the 2G spectrum scam case on Wednesday, the controversial Mumbai-based real estate company DB Realty inducted his father, K M Goenka, as a Non-Executive Director.
Civil Aviation Minister Vyalar Ravi has cancelled the lease contract of Srinagar’s Centaur Hotel which was allotted to DB Realty, the company of Shahid Balwa.
A first-of-its-kind real estate exhibition showcasing the finest properties and realty investment opportunities in Kerala is being organized in the city.
Real estate prices in the metropolis, one of the most expensive realty markets in the country, are expected to remain stable in the near future, a top industry official said today.
Demand for residential development will continue to remain unabated, but the requirement of real estate by retail industry over the next five years and even thereafter will provide a major thrust to the property market in India, said CB Richard Ellis’ global president Robert E Sulentic.
The government is keen to clean realty deals and wants to crack down on money laundering. It wants a closer look at the real estate market, widely perceived to be the biggest sink of black money in India.
While real-estate and property advertising in India has been mostly lacklustre, a new campaign by Mumbai-based realty developer Oberoi Realty has broken the mould.
When 80 years old Ramakant Apte in California read what filmmaker Karan Johar said about his birthplace Bandra as the new heart of the city, he got so nostalgic that India visit in general and moving around his good old queen of suburbs in particular was his wish list number one.
While the banks and financial institutions are overtly blaming the real estate companies for defaulting on the loan repayment, it is learnt that they are also showing largesse to the realtors by rescheduling their loan repayment.