Jones Lang LaSalle to raise first realty fund in India
Track2Realty: Jones Lang LaSalle (JLL) recently got the green signal from SEBI to launch its first residential focused fund in India. It plans to raise $57 Mn.
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Maharashtra revises lease rentals of 1,577 lands in Mumbai
Track2Realty: The Maharashtra government has revised lease rentals of a total of 1,577 lands situated in Mumbai city and suburbs. The revised lease rentals, which are fixed on ready recknor rates, would be effective from January 1. State cabinet chaired by Prithviraj Chavan gave its approval at its meeting held on Tuesday, Oct 9.
The uneven urban growth of Delhi-NCR
Track2Realty: In terms of planned urban growth, the evidence for real estate development being backed by the creation of associated physical infrastructure is higher in Noida and Greater Noida. Gurgaon and Faridabad are at the opposite spectrum, where infrastructure is developed after the real estate potential of an area has been nearly fully exploited. In other words, infrastructure projects in these areas is largely taken up only after an area is already primed for real estate growth. Even so, Gurgaon has seen the maximum capital appreciation for investors and end users.
DLF hits back Kejriwal’s allegations with facts
Track2Realty: DLF on rejected activist-turned-politician Arvind Kejriwal’s allegations of corruption in the business dealings with Robert Vadra, saying the Sonia Gandhi’s son-in-law bought flats from the company at prevailing market rates. The company also clarified that no unsecured loans were given to Vadra.
CAIT alleges CCI Chairman has breached sanctity of CCI by favouring FDI in retail
Track2Realty: The Confederation of All India Traders (CAIT) has strongly objected to the reported statement of Ashok Chawla, Chairman, Competition Commission of India (CCI) who has openly favored FDI in Retail.
DLF denies Kejriwal’s charges on land deals with Vadra
Track2Realty: Stung by allegations of corruption from social activist Arvind Kejriwal, real estate major DLF on Saturday, Oct 6, vehemently denied it had advanced any unsecured loan to Congress chief Sonia Gandhi’s son-in-law Robert Vadra.
SEBI allows 2 Alternative Investment Funds to operate in India
Track2Realty-Agencies: Two more entities have received market regulator SEBI’s approval to set-up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds.
Blackstone gets CCI approval for Embassy realty deal
Track2Realty-Agencies: The Competition Commission of India (CCI) has approved a real estate deal between global private equity giant Blackstone Group and Pune-based realty firm Embassy Group. The proposed deal involves Blackstone and Embassy Group having joint control over an entity engaged in the business of development and management of commercial and office space and related activities.
Do freebies work in selling property?
Track2Realty: The type of marketing strategies that Indian developers employ to sell their products in a tough market may often seem strange to property marketers in other countries. Nevertheless
Report estimates 180 million sq feet of office demand across 8 cities in next 4 years
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.