NEW DELHI: Smartworks, a homegrown co-working startup, has leased 2,50,000 square feet in Hyderabad’s Aurobindo Galaxy, taking its total operational space in the city to 4 lakh square feet, a senior executive of the company said on Tuesday. This, at a time demand for flexible office spaces has risen after pandemic-induced lockdowns. Companies are weighing […]
NEW DELHI: Realty firm hBits, which facilitates fractional ownership of commercial properties, plans to raise Rs 44 crore from individual investors looking to acquire 38,000 sq ft area in Mumbai jointly. The concept of fractional ownership is gaining momentum in the office market because of better rental yields. hBits said it has signed up two […]
Realty developer DLF’s rental arm DLF Cyber City Developers has raised about Rs 2,500 crore through two lease rental discounting transactions, a senior company executive said. The two transactions follow one for Rs 2,400 crore that the company raised from State Bank of India in October 2020 at an interest of 7.35% for a 15-year […]
GURUGRAM: The contentious Punjab Land Preservation (Haryana Amendment) Bill was passed by the state government in 2019. Two years on, there is still a growing clamour for scrapping the bill. The bill, which is yet to be notified, was passed by the state government in February 2019 despite vehement objections and without a select committee […]
NEW DELHI: Receiving a tepid response from highrise buildings that were served notices nine months ago for submitting structural audit reports, Delhi’s civic bodies have now resorted to issuing final warning for disconnecting water and electricity supply if no response is received within a month. South Delhi Municipal Corporation has dispatched over 30 such warnings, […]
NEW DELHI: NCR-based real estate developer Vatika Group and its associated companies have repaid debt worth Rs 1,109 crore within a period of 11 months, said a company statement. The debt has been cleared by selling combinations of lands worth Rs 450 crore, finished inventories worth Rs 500 crore and company’s shares worth Rs 170 […]
GURUGRAM: Police booked the maintenance company of a residential society for non-functional lifts that are posing a safety risk to the residents. The residents have alleged that despite paying annual maintenance charges (AMC) they have not been provided with any upkeep facility and lifts have not been working for a long time. Around 300 families […]
NEW DELHI: The Delhi government has notified the 20 per cent reduced circle rates for land and immovable properties to boost transactions in real estate. Recently, Mumbai had cut stamp duty rates which led to a massive increase in people buying and selling properties. The Lt. Governor of the National Capital Territory of Delhi notified […]
GURUGRAM: Police booked the maintenance company of a residential society for non-functional lifts that are posing a safety risk to the residents. The residents have alleged that despite paying annual maintenance charges (AMC) they have not been provided with any upkeep facility and lifts have not been working for a long time. Around 300 families […]
BENGALURU: SoftBank Group Corp said on Friday it has reached a settlement with WeWork’s special committee and the company’s co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports earlier this […]
GURUGRAM: In a first, the department of town and country planning (DTCP) has decided to recover the cost of demolition of illegal colonies from the land owners and builders. The move, officials said, will not only check the mushrooming of illegal colonies in Gurugram but also help reduce the financial burden on the department. In […]
NEW DELHI: Institutional investments in Indian real estate will grow by 14.6% to Rs 396 billion from Rs 346 billion in 2020, according to a recent report by Colliers International India. Institutional investments in 2020 had witnessed a drop of 23% from 2019. “The investment climate in India is very buoyant with global investors’ interest […]
