Unitech defends it right to seek arbitration
Unitech has told Company Law Board (CLB) that its dispute with Norwegian firm Telenor over their joint venture Uninor was fit case for arbitration.
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Hospitality gearing up for steep climb ahead-II
The emergence of the secondary and tertiary cities led to an aggressive increase in hotel development and provided avenues for expansion of hotel brands, which were previously dependent on new opportunities in just the five main cities.
Godrej Properties announces a redevelopment project in Mumbai
Godrej Properties will redevelop 18 residential buildings in Chembur, Mumbai. The Company, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL), entered into an agreement dated January 18, 2012 with Kamla Landmarc Property Leasing and Finance Private Limited (Kamla) to undertake a residential redevelopment project in Sahakar Nagar, Chembur, Mumbai.
Lavasa launches its second town ‘Mugaon’
Lavasa Corporation has announced the launch of Mugaon – the 2nd town to be built at Lavasa. Situated on the banks of the lake, Mugaon will be developed on approximately 2400 acre area and is much larger than Dasve, the first town of Lavasa.
Hike in Maharashtra stamp duty rates to increase cost
The proposed revision of the stamp duty in Maharashtra for leave-license would definitely impact the rental market in the residential, commercial and retail asset classes. The corporate commercial property market would be less affected, since this asset class typically operates on leases locked in for longer tenures which can extend up to 3-5 years. However, retail property leases would feel the pinch, since this sector typically works on annual leases in the form of leave and license.
DLF Brands on expansion mode
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
How to identify a good broker-I
Identifying a good and reliable broker is the first step in your entry into the property market. However, there are no defined policy guidelines in this highly disorganized business and Track2Realty suggests that one has to be careful judging the intent and credentials of the broker with certain tangible and intangible parameters.
Godrej Properties share sale oversubscribed
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
ITES and BFSI continue to be primary demand drivers of office space in India in 2012: DTZ
ITES and BFSI continue to be primary demand drivers of office space in India in 2012, says DTZ Occupier Perspective: India Office Demand and Trends Survey 2011. It says Delhi NCR and Bengaluru preferred by IT/ITES while Mumbai is BFSI’s favourite. Tier II cities of Bhubaneswar, Chandigarh and Jaipur preferred by IT/ITES; Ahmedabad by BFSI’s favourite; Gurgaon is the preferred micro market in Delhi NCR.
Will auspicious Gudi Padwa remove Mumbai property jinx?
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.