What a dream run it has been for the Indian equity market in 2017 - and who would have thought. If we rewind back and talk about all the gloom and doom that were surrounding us back in December of 2016; demonetisation and impending huge indirect tax reform. Well, the Indian market has come a long way and come on top.
NM Gattu, CFO, DB Realty expects to complete the project in 39 months and hopes to see realisation of Rs 32,000 per sq ft (initial launch price), going up to Rs 40,000 per sq ft by the time the project is completed in 2018
The Maharashtra government has announced a premium for additional floor space index (FSI) availed by developers for construction. Gulam Zia of Knight Frank, Pujit Aggarwal of Orbit Corporation and NM Gattu of DB Realty discuss on the implications of the move.
Real estate companies in Mumbai get a boost as the BMC proposes a new 20-year development plan and recommends a substantial increase in FSI to a maximum of 8.
The Brihanmumbai Municipal Corporation (BMC, in its 20 year development plan, increased the FSI to a maximum of 8. FSI is the ratio of the permissible built-up area to the plot area and was 1.33 for Mumbai city and 1 for the suburbs.
NM Gattu, chef financial officer, DB Realty says the Mahalaxmi project is about 14 lakh square feet.
The company has so far sold 6 lakh square feet out of the 13 lakh saleable area, said NM Gattu of DB Realty.
The company is a part of a consortium and has entered a joint venture with DB Realty for the same. Om Metals is the owner of the land and has a 35 percent stake in the partnership.
DB Realty CEO Vipul Bansal, in an interview to CNBC-TV18's Prime Property, says that the company is on an aggressive growth thanks to large inventory, timely approvals and delivery track-record.
Vipul Bansal, group CEO, DB Realty, talking to CNBC-TV18, says the company, which has an inventory above Rs 30,000 crore, plans to launch three key projects in the next 3-4 months.
Parag K Shah, MD of Man Infra, in an interview with CNBC-TV18’s Latha Venkatesh and Gautam Broker, spoke about the recent happenings in his company and the road ahead.
Experts in an exclusive interview with CNBC-TV18 analyze the implication of the verdict in to the corporate world and the market.
Man Infraconstruction signed an MOU with a Turkish multinational infrastructure company, STFA, for port and marine construction in India.
Real estate developer DB Realty has come under a negative light after the arrest of its MD Shahid Balwa in connection with the 2G spectrum scam investigations. However, Vinod Goenka, co-promoter of DB Realty said that DB Realty & Etisalat-DB have no equity or any connection.