SOBHA launches Gardenia in Chennai
The contemporary yet traditional Tamil-inspired architecture of SOBHA Gardenia has been thoughtfully designed by a team of in-house architects at SOBHA. This is SOBHA’s fifth project in the city.
Browsing: Chennai Real estate news
Is Chennai’s OMR stretch losing its sheen?
Track2Realty: The 50 km-long stretch along Chennai’s Old Mahabalipuram Road (OMR), or Rajiv Gandhi Salai, extends between the Madhya Kailash Junction at Adyar, Chennai, and the temple town of Mahabalipuram. It may be segmented into three sections—(i) Madhya Kailash–Shollinganallur, (ii) Semmencherry–Kelambakkam, and (iii) Kelambakkam–Mahabalipuram.
Office space absorption drops by 23% this year in top 8 cities
Track2Realty: Office space absorption dipped by 23 per cent during 2012 in major cities to 29 million sq ft as corporates remained cautious of expanding businesses amid global uncertainties and slowdown in the Indian economy, property consultant Cushman and Wakefield has said.
Office take-up to increase by 21% in 2013: DTZ
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%.
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.
Chennai home buyers can complain by e-mail
The Confederation of Real Estate Developers’ Association of India (CREDAI) has put house buyers’ grievance redressal mechanism on the fast track by introducing an e-based redressal system.
Hyatt Introduces Hyatt House in India with agreement for hotel in Mumbai
Hyatt Hotels Corporation has introduced its new Hyatt House extended-stay brand in India, with the signing of a management agreement by a Hyatt affiliate for a hotel in Mumbai.
Growing eurozone crisis affecting Indian realty
Growing eurozone crisis is all set to affect the Indian real estate. It may sound like drawing a parallel between Indian office space prices and what’s happening in North America and Europe.
BAI’s residential property expo in December
The Builders Association of India – Southern Centre plans to organize a three-day residential property exhibition – House Hunt – Expo 2011 from December 2.
South India to see spurt in hotel rooms
The south Indian hospitality market would see an addition of 14,500 new rooms in 178 star hotels across southern states by the end of year 2012.