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.
The real estate sector in Bangalore has grown to a large extent in the past one year. In the year ahead, the city’s realty is expected to grow by 25 per cent, estimates the Karnataka Chapter of the Consortium of Real Estate Developers’ Associations of India (CREDAI).
Mantri Developers has collaborated with Cisco to develop new ICT-enabled real estate models ‘Mantri Connected Communities and Smart Homes.’ This collaboration combines Cisco’s Smart+Connected Communities vision with Mantri’s experience as a pioneering smart urban developer to provide connected and sustainable communities and an enriched living experience to its residents.
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.
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.
Amidst cut-throat the hospitality vertical of Indian real estate has done well with hotels across the budget segment witnessing upward movement. Track2Realty exp0lores the emerging trends and also addresses the game changers that has influenced in the past and promises to do so in the year ahead.
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.
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.
Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project, according to the sources close to the development.
If only the secondary market was any indicator of real estate growth, the argument that that the real estate market is turning bearish in Chandigarh would have been true. But while the prices have softened a bit in the city, the beneficiary is the periphery of Chandigarh that makes the overall property market in the city very bullish and overall economy vibrant.