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Promises to keep
Source: Financial Chronicle Sep 05, 2016
A bill, which became an Act in May this year, can scarcely be expected to touch lives in a matter of weeks and that too in the vast and opaque real estate sector. The Real Estate Regulation Act (Rera), which came into force from May 1, 2016, after being cleared by the parliament and assented to by the President of India, is no different. Experts believe, give Rera a year before jumping the gun and reaching premature conclusions. ... more
‘CAI expo, a credible platform for buyers, sellers’
Source: The Hindu Business Line Sep 02, 2016
CAI Expo 2016, one of the largest business-to-business exposition in the construction, architecture and interiors space, organised by BusinessLine, got off to a scintillating start with a pre-launch event here on Thursday. ... more
Indian retail space under-penetrated by global brands: JLL
Source: The Economic Times Sep 02, 2016
Indian retail space remains under-penetrated by global brands and is now emerging as an attractive destination for global retailers with further liberalisation of the FDI policy and creation of business friendly environment. Indian cities including Mumbai, Bengaluru, Delhi, Chennai and Pune are among the top 10 cities with highest retail sales growth forecast between 2015 and 2019, according to a JLL India report. ... more
Keys Hotels hires new staff at senior levels
Source: The Economic Times Sep 02, 2016
Keys Hotels, a brand by Berggruen Hotels funded by Berggruen Holdings, a New York-headquartered proprietary fund has appointed Zahid Memon as director information technology, Lester Dmello as head of human resources and Apoorv Bhatt - as corporate chef, Berggruen Hotels. ... more
Will UltraTech sustain its lead?
Source: The Economic Times Aug 29, 2016
This month’s approval by Competition Commission of India (CCI) to acquire the Jaiprakash group’s 21.1 million tonnes (mt) of cement assets will catapult the Aditya Birla Group’s UltraTech way ahead of its close competitor, Switzerland-based LafargeHolcim. On completion, the acquisition would see UltraTech’s cement capacity cross 91 mt, significantly widening its lead over LafargeHolcim, which controls ACC and Ambuja Cements. However, it is not this acquisition that has put UltraTech in the top slot but its aggressive growth strategy in the past decade. ... more
Mumbai Metro: A better ride for commuters
Source: The Financial Express Aug 29, 2016
That’s not to say the city’s first metro line hasn’t proved to be a boon for more than 15 crore people who have used it since operations began. (Reuters) That’s not to say the city’s first metro line hasn’t proved to be a boon for more than 15 crore people who have used it since operations began. (Reuters) ... more
Tirupati vies to be on smart city list
Source: The Times of India Aug 25, 2016
Anticipating that Tirupati might find a place in the forthcoming list of 'smart cities', the Tirupati Municipal Corporation is mulling to take the support of France and US for its development. ... more
Real Estate Regulatory Act will boost FDI in the sector, says FICCI study
Source: The Economic Times Aug 25, 2016
The recently cleared Real Estate Regulatory Act (RERA) will bring in transparency in real estate transactions, reducing the number of litigations in the sector, according to a survey-based report by FICCI and Grant Thornton. ... more
Government allows cancellation of 4 SEZ projects
Source: The Economic Times Aug 25, 2016
The government has given go-ahead for the cancellation of projects to four special economic zones (SEZ) developers including those of Broadway Integrated Park and Veritas Infrastructure Development. ... more
Heard about 'Book your home and fly to Rio' offer?
Source: The Times of India Aug 18, 2016
Tata Housing, one of the fastest growing real estate companies in India, today announced the ‘Book your home and fly to Rio’ offer on its project Rio-De-Goa, launched in 2015 amidst much celebration. Home buyers who book apartments at Rio-De-Goa before 31st August 2016, can avail return tickets to Rio de Janeiro, the ultimate carnival destination. Bookings are open online now at Rs. 30,000 for 2 and 3 BHK residences starting at Rs. 67 lakh onwards. ... more
Transmission congestion has consistently reduced: I S Jha
Source: Business Standard Aug 18, 2016
Power Grid Corporation of India beat the market estimate by a 33 per cent rise in net profit for the June quarter. I S JHA, chairman and managing director, talks to Sanjay Jog & Hamsini Karthik about what is ahead. ... more
Global investors keen on Indian real estate
Source: The Times of India Aug 16, 2016
Global investors are looking at the Indian real estate sector with a great deal of enthusiasm, following the recent policy reforms, including Real Estate Regulatory Act (RERA), 100% FDI in construction and easing of REITs regulations, said Colin Dyer, CEO of US-based JLL Inc. ... more
Mumbai airport invites bids to develop five land parcels
Source: Livemint Aug 12, 2016
Mumbai International Airport Pvt. Ltd (MIAL), led by a GVK Power and Infrastructure Ltd consortium, has invited bidding for selling five land parcels of GVK SkyCity, a mixed-use development project near Mumbai’s Chhatrapati Shivaji International Airport, a person close to the development said. The 20 million sq. ft commercial business complex will be built over a period of 10 years. In 2014, MIAL had awarded 1.16 million sq.ft of land of GVK SkyCity project to Oasis Realty Pvt. Ltd for Rs.580 crore to develop commercial space. ... more
Milestone Capital Advisors raising Rs1,400 crore commercial real estate fund
Source: Livemint Aug 12, 2016
Milestone Capital Advisors Ltd is raising its third commercial real estate private equity fund of almost Rs.1,400 crore, said a top executive of the property-focused investment firm. ... more
Hawelia Group set to surprise buyers on I-Day
Source: The Times of India Aug 12, 2016
Hawelia Group salutes the members of Indian Armed Forces this 70th Independence Day of the nation. To commemorate the Independence, the Group is offering a special additional discount of Rs. 70,000/- for both of its projects- Hawelia Valenova Park and Hawelia Valencia Homes at Greater Noida West. ... more
Tulip Infratech launches green building in Gurgaon
Source: Financial Chronicle Aug 11, 2016
Tulip Violet is a green building in the making and has been pre-certified as gold rated green building by IGBC ... more
NTPC raises Rs 2,000 crore in country's first Green Masala Bonds
Source: Business Standard Aug 06, 2016
The country’s largest power producer, NTPC, raised Rs 2,000 crore through rupee-denominated green masala bonds from offshore markets. The company launched the bonds on Wednesday, with an initial target to raise Rs 1,000 crore. The company raised the size to Rs 2,000 crore and priced the bond at an annual yield of 7.48 per cent with five-year tenure. ... more
Construction sites will be fined Rs 5 lakh per violation
Source: The Times of India Aug 06, 2016
The National Green Tribunal (NGT) has directed civic bodies to impose fines--environmental compensation--on construction sites flouting air quality norms and causing dust pollution, as per their plot size. ... more
TAXING REALTY - SECTOR FACES GST BUMP
Source: The Times of India Aug 06, 2016
A single indirect tax, encompassing all goods and services, will go a long way in ushering in transparency, efficiency, and competency in the business environment of the country. ... more
The new normal
Source: The Times of India Aug 06, 2016
Last night just when I was wrapping up my work, which happens around 11 pm, I had a conversation with a very excited colleague. This colleague -a young woman in her early 30s had been agonising over buying a home for over two years. For over two years, she had been visiting sales offices and construction sites all over the city and she had been using me as a sounding board for her choice of location, developer and home loan. She and her husband had finally settled on a home that they had bought over the weekend. ... more
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