The project is envisioned as a city within a city and a new central business district for Gurugram.
The demand for Grade A premium office assets is also likely to increase to 1.2 billion sq. ft. by 2030 in India
According to the Real Estate Regulatory Authority, the matter pertained to Splendor Trade Tower, a commercial project being developed by Splendor Landbase in Sector-65 of Gurugram, since 2008.
The authority noted that the industries coming up at these plots are expected to provide employment to 1,500 to 2,000 people.
In Phase 1, the Group will develop 1 mn sq ft of high street retail space. In Phase 2, if the company is able to buy additional FAR, another 1 mn sq ft will be developed in the form of business suites
Cites inability to pay the three-month security deposit and an 11-month advance rent amounting to Rs 45.5 lakh; Noida Authority says rent can't be broken into instalments.
The plots offered measure between 871 sq m and 51,417 sq m. The last date for registration is March 13, 2023, and the allotment will be through e-auctions. Officials said the e-auction will be conducted only if each plot gets a minimum of three applications.
The company will develop 3 lakh sq ft of retail area, 2.5 lakh sq ft area of office space and a 200-room hotel.
The company to invest the amount in constructing an integrated IT/ITES commercial project in Noida. The project will spread across an area of 22 lakh sq ft of built-up area
DLF's residential business delivered a strong performance to clock quarterly new sales bookings of Rs 2,507 crore, reflecting a YoY growth of 24 percent. Cumulative new sales for 9MFY23 stands at Rs 6,599 crore, reflecting a YoY growth of 45 percent.
The Authority observes that the bank’s e-auction attempt is “devoid of” considering and settling the claims of individual allottees who are stakeholders in the project in question.
Sonu Kumar Jha, a tea and gutka seller, has agreed to pay a 1,203 percent higher amount than the base rent of the kiosk. He will have to deposit 14 months’ rent in advance, which roughly amounts to Rs 45 lakh, to the Noida Authority.
The project comprises two buildings with an aggregate net leasable area of about 1.5 million square feet.
The measures can stimulate investments in the sector by significantly improving the returns for developers and investors hit by high input and finance costs.
SKA will develop 250,000 square feet of retail spaces. The project is expected to be completed by December 2025.
On an average Indian super rich own 5.1 residential properties compared to the global average of 4.2 units
Technology firms account for a 46 percent share of GCC footprint across the top six cities followed by BFSI with a 19 percent share
The company has taken the fourth floor of a building in Sector 18, Udyog Vihar from OneQube Realtors and paid a security deposit of Rs 3.7 crore
Investment proposals of Rs 30,000 crore have been finalised in real estate and retail sectors
Leasing was led by the technology sector, followed by flex spaces and the BFSI sector; Bengaluru accounted for 33 percent share in total leasing in 2022, followed by Delhi NCR at a 21% share
Co-working constituted almost 20 percent of the total 39 million square feet commercial real estate absorption this year, indicating that occupiers continue to favour a flexible strategy towards their growth plans.
The funds will be utilised towards the working capital requirements of Mindspace REIT’s Asset SPVs.
Bengaluru continues to be the market leader, likely to account for 33 percent of office leasing in 2022, said a report by Colliers
India continues to witness the highest growth in flexi–office market in the APAC region. Shanghai and Beijing rank second and third in top 12 APAC cities with highest flex stock, said the CBRE report
The depository paid a stamp duty of Rs 9.79 crore for the registration of the two deals