In Bangalore, the cap rates for the logistics & warehousing assets continue to remain flat Q-o-Q with significant volume registered in lease transactions. Similarly, rental rates and capital values for Grade A commercial office segment have been flat with no significant change. Though interest rate regime is stable, the impact on the cap rate movement is limited due to transaction volumes and perceived risk not changing much.
ASK Property Fund, the real estate private equity arm of Blackstone backed ASK Asset & Wealth Management Group, has announced the successful investment of INR 190 crore in a project being developed by Kalpataru. The project is an upper mid-segment project, located in Borivali West, comprising 310 units and is spread across 6 acres with a total saleable area of about 6.5 lakh square feet.
Various Government-driven policies including ease of doing business in India are attracting both Indian and global companies, squarely benefiting commercial real estate. Big-bang boosters like the start-up revolution and the Make in India and Smart Cities missions have created a very lucrative environment for businesses to work and expand in India.
Singapore investors are betting big on Indian commercial real estate and other new sunshine sectors, including logistics and warehousing. Major Singapore-based private equity firms are funnelling billions of dollars into the country’s real estate sector, particularly in South Indian cities.
What has been an interesting finding during this fiscal year is the fact that a number of relatively smaller developers but with impeccable track record of delivery and consumer satisfaction are breaking the myth that it is the sheer volume and premium that elevates a company at the Brand Leadership Chart.
The wedding, which is conducted twice a year, saw 20 couples tie the knot during the ceremony.As part of SOBHA’s CSR drive, the girls are selected from 7149 Below the Poverty Line (BPL) families in Vadakkenchery, Kizhakkenchery and Kannambra panchayats in Palakkad district.
Till a decade back such was the mad rush for raising money in the capital market that even the real estate companies with limited presence in select micro markets started launching projects across the country to showcase a pan-India presence. Significant increase in housing demand, organized retailing and liquidity boom from 2003 to 2008, led to huge increase in land prices and real estate values and most real estate companies had a great run.
MORE till date has invested capital in the real estate sector through three real estate funds and PMS/ Prop investments. Today, cumulative AUM under MORE stands at more than INR 2,100 crore spread across IREF (INR 200 crore), IREF II (INR 500 crore), IREF III (INR 1030 crore) and balance under PMS / Prop Investments.
India’s most admired and trusted real estate brand has won the “Iconic Real Estate Brand Award” at the India Best Brand Series and Awards (IBBA) 2018 held recently in Delhi NCR. These awards recognise the brand strength and success stories of corporates, SME’s, entrepreneurs and start-ups. The winners were selected on the basis of brand audit, consumer mapping, and jury ratings.
The company, through the acquisition of Zenify in May 2017, has also recently entered the family rental solution business. This round of funding also saw participation from its existing investor IDG India and Tiger Global.