INRnews - Indian Real Estate News

Ascendas real estate fund buys Cyber Pearl IT Park in Hyderabad | INRnews

Thu, 30 Nov 2006 22:55:42 +0800

Hyderabad, November 30, 2006 : Ascendas India IT Parks Trust, a $350-million private real estate fund, has purchased L& T Infocity Ascendas Limited (LTIAL) owners of the Cyber Pearl IT Park in Hitec City in Hyderabad. The fund was set up by business space provider Ascendas.

Rail land development authority constituted | INRnews

Thu, 30 Nov 2006 22:16:16 +0800

New Delhi, November 30, 2006 : The Rail Land Development Authority (RLDA) has been constituted through an amendment to the Railways Act, 1989 with effect from 1.11.2006. The Authority will cosist of Chairman, Vice-Chairman and four members, including one from outside (i.e. non-Railway member) who will be an expert in real estate.

Office space absorption in National Capital Region increases | INRnews

Thu, 30 Nov 2006 19:40:57 +0800

New Delhi, November 30, 2006 : The National Capital Region (NCR) has witnessed overall office space absorption of 6.36 million sq. ft. in the first three quarters of 2006. The total absorption for NCR is estimated to be 8 million sq. ft. by year end, nearly 3.5 times of the absorption in the entire year of 2005 (2.36 million sq. ft.).

New 130,000SF office building slated for Gurgaon, India | INRnews

Wed, 29 Nov 2006 20:54:25 +0800

Gurgaon, November 29, 2006 : The WIRE Group have unveiled plans to develop a 130,000SF International Class A Office building in Gurgaon India (about 20 miles southwest of New Delhi CBD). The build-to-suit facility will be built on 1 acre adjacent to the Jaipur-Delhi Highway, one of the region's main north-south arteries. LEED Certified professionals will be involved in the design and development of the building. The amount of the transaction was not disclosed.

FDI’s share in Indian real estate to touch 26% By March 2007 | INRNews

Mon, 27 Nov 2006 16:25:08 +0800

New Delhi, November 27, 2006 : FDI’s share in domestic real estate market will touch about 26% by March 2007, 10% higher than levels of 16% for fiscal 2005-06. This is expected to be driven by the growing interest of global real estate players in the Indian real estate market and increasing demand for office space particularly in IT & BPO.

Ahmedabad - Gandhinagar road sees real estate development interest | INRnews

Mon, 27 Nov 2006 13:31:09 +0800

Ahmedabad, November 27, 2006 : The road connecting Ahmedabad airport to Gandhinagar is seeing strong interest from developers, attracted by its proximity to two key cities and excellent connectivity. IT facilities and hotels as well as educational/research institutions are being planned for this stretch.

US$8 billion to flow into Indian real estate funds | INRnews

Thu, 23 Nov 2006 07:05:49 +0800

Bangalore, November 23, 2006 : After the government’s relaxation of foreign direct investment (FDI) norms for the real estate sector in early 2005, the real estate sector has seen a foray of real estate fund launches. Sizable investments are expected to flow into these funds according to real estate services firm Jones Lang LaSalle (JLL).

Aggressive growth ahead for Bangalore commercial and retail real estate | INRnews

Thu, 23 Nov 2006 06:54:11 +0800

Bangalore, November 23, 2006 : Aggressive growth is forecast for the Bangalore commercial and retail real estate by real estate services firm Jones Lang LaSalle (JLL). New supply will prevent the market from overheating.

IT SEZ to come up on 550 acre site in Vadodara | INRnews

Wed, 22 Nov 2006 07:23:32 +0800

Vadodara, November 22, 2006 : Nipiam Infotech Private Limited is to develop a 550 acre IT SEZ at Nimeta in Vadodara in collaboration with a Singapore based company. The first phase of the project, to be completed within two years, will include an IT Park on 100 acres. The total project investment is in the range of Rs.2,600 crore.

Indian real estate market growing by 30% a year | INRnews

Tue, 21 Nov 2006 12:33:48 +0800

Bangalore, November 21, 2006 : New research issued by global real estate adviser DTZ has revealed that India is becoming one of the world's key emerging real estate markets.

Old Mutual in large retail leasing deals in India | INRnews

Sun, 19 Nov 2006 21:30:16 +0800

Mumbai, November 19, 2006 : Two large retail leasing deals have been signed in India by Pioneer Property Zone, a joint venture between Johannesburg and London-listed Old Mutual Property Group and ICS Infrastructure, of India. The deals are for Viva City in Thane with 650,000 square feet of retail space, and for a luxury mixed-use development in Bangalore. The leases cover a combined 50,000 square meters for both projects.

Delhi commercial real estate prices soar | INRnews

Sat, 18 Nov 2006 21:36:08 +0800

New Delhi, November 18, 2006 : With no new office supply in the New Delhi CBD (Connaught Place) and surrounding locations, demand has clearly outstripped supply. The renewed eviction drive by the Municipal Corporation of Delhi, against unauthorized usage and development, has put further pressure on the already soaring values. The CBD vacancy rate is presently under 2%, which is further constrained by lack of Grade A office space and has resulted in an annual rental escalation of approximately 95% in the CBD and capital value appreciation of close to 140% according to real estate services firm Cushman & Wakefield.

Mumbai commercial real estate see strong appreciation | INRnews

Fri, 17 Nov 2006 21:46:19 +0800

Mumbai, November 17, 2006 : Mumbai's commercial real estate market has appreciated considerably over the last one year. Rents in South Mumbai (CBD) for Prime and Grade A office space are up by 73% while capital values are up by 51% vs. 12 months ago. In the suburban Bandra Kurla complex, rentals are up by 132% and capital values are up by 115% over a year.

Madhapur - the preferred commercial real estate destination in Hyderabad | INRnews

Fri, 17 Nov 2006 14:53:41 +0800

Hyderabad, November 17, 2006 : Hyderabad is a yet another example of an evolving real estate market, where suburban developments rather than CBD developments are in high demand. Madhapur continues to be the preferred destination for corporate tenants, as the buildings offer better quality of construction, professional maintenance, larger floor-plates, scalability options, air-conditioning, adequate parking and 100% power back-up. Further, most of these complexes have been completed on government allotted land and therefore they have clear titles, unlike in and around the CBD, which face various issues.

Chennai commercial real estate supply increases | INRnews

Fri, 17 Nov 2006 13:19:30 +0800

Chennai, November 17, 2006 : Chennai is witnessing an increase in supply in the suburban and peripheral markets, primarily along the Old Mahabalipuram Road (also known as the IT corridor) and Guindy. In addition, there has also been a growth of new locations like Mount Poonamalle Road and Ambattur in the suburbs and G.S.T Road in the periphery. These emerging markets are attracting interest of the investors and lessees alike and may grow as potential business hubs.