Track2Realty: Provident Housing Limited, a wholly owned subsidiary of Puravankara Projects Limited, is set to launch India’s largest residential township project. This gargantuan project, ‘Provident Sunworth’, is a 6 million square feet project spread over 60 acres , strategically located off Mysore Road near the NICE ring road junction in Bengaluru, within driving distance from Electronics city, Industrial hubs and the IT corridor.
Track2Realty: The year 2012, which started on an unenthusiastic note due to the global as well domestic economic turmoil, is now showing initial signs of recovery. Amongst the larger world economies, the US economy recorded a GDP growth of 1.7% between April and June, slightly higher than earlier estimates of 1.5%.
Track2Realty-Agencies: Indiabulls Real Estate has opened its first overseas office in the UAE. Located in Dubai, the local representative office will cater to the rising interest and demands of the UAE-based NRIs in company’s projects across India and expand its regional reach, the company said in a statement.
Track2Realty: The real estate sector will continue to remain an attractive investment destination with the possibility of prices in residential areas appreciating by 91 to 145 percent in select cities over the next five years, a survey released on Tuesday, Nov 20, said.
Track2Realty: In the annual report by global real estate consultants Cushman & Wakefield, “Main Streets across the world”, Mumbai witnessed the highest rental growth globally. Colaba Causeway in Mumbai recorded a rental increase of 75% over last year, on the back of strong retailer demand and continuous preference for prime high street properties in the city. Kolkata – Park Street (5th) at 53.8% and Chennai – Khader Niwaz Khan Road (10th) at 36.7% were among the global top ten cities to register highest annual rental growth.
Track2Realty: Despite aggressive marketing and great offers made by developers on the eve of Diwali festival, the investment in the property have remained lukewarm due to high prices of houses in and around the NCR region. Major factors cited have been high prices of land and the unprecedented rise in the cost of construction materials, iron, cement, labour etc., says the ASSOCHAM survey.
Track2Realty: MCHI-CREDAI property expo kick started on Thursday, Nov 1, at BKC grounds, Mumbai, featuring over 15,000 properties with over 120 developers participating. Axis bank is the co-organiser of the exhibition.
Track2Realty: Supertech today announced tie up with hospitality chain The Leela Palaces, Hotel and Resorts for management of its luxury hotel in Noida that is being developed at an investment of Rs 450 crore.
Track2Realty: The first three quarters of 2012 witnessed a fall in the quantum of private equity investments in the real estate sector. The private equity investments is recorded at INR 35 billion which is approximately 15% lower than same period last year. The total number of private equity transactions till date in 2012 is 23, marginally lower when compared to same period last year. These are the findings of the latest Investment market report from real estate consultancy Cushman & Wakefield, India.
Track2Realty: Office space absorption witnessed a 14% q-o-q decline during the 3rd quarter of 2012, according to the findings of CBRE’s latest report, India Office Market View Q3, 2012. Prime office space absorption across the 7 key cities reviewed decreased to about 6 million sq ft in the third quarter, compared to more than 7 million sq ft in the previous quarter.