It will remain focused on Bengaluru, Mumbai and Delhi NCR in India for residential real estate followed by Sri Lanka and the Maldives in international markets.
“Cities with the worst infrastructure have the highest value of property,” said Sanjay Dutt, MD of Tata Realty.
"Hiring on a large scale basis is happening already. Many sectors are bouncing back. We think there is no threat rather the opportunities are even better," TATA Realty and Infrastructure MD and CEO Sanjay Dutt said.
With an equity allocation of Rs 20 billion (C$333 million), the joint venture would pursue Grade A commercial developments in India's key gateway cities
Under the partnership, CPPIB will acquire 49% stake in two projects — Intellion Park Chennai with 4.6 million square feet of gross leasable area and Intellion Edge Gurugram having 1.8 million square feet of gross leasable area.
The Navi Mumbai area commands a monthly rental of Rs 60-70 per square feet. Around 2-3 million square feet office space gets leased in this area.
Tata is mulling to bring onboard an internationally renowned designer or architect to design the project.
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The shopping mall at Amritsar, Punjab, has a leasable area of one million sq ft while the mall in Nagpur, Maharashtra, has 7,00,000 sq ft area.
The City and Industrial Development Corporation (CIDCO), for the second time on January 25, 2017, extended the deadline for submitting bids for the Navi Mumbai Airport to February 13, as it received only one R
GVK Power & Infrastructure shares rallied more than 13 percent intraday Wednesday as a media report indicated that the company may be the lone bidder for Navi Mumbai airport.
When bids for Navi Mumbai airport project open next week, GMR Group and Tata Realty will abstain from bidding for the Navi Mumbai airport project due to "onerous" bid conditions, Business Standard reported Wednesday.
"Sterlite Grid is the L-1 (lowest) bidder for the Maheshwaram power transmission project followed by Power Grid Corporation (L-2) and Kalpataru Power Transmission (KPTL) (L-3) as per the financial bids opened on Friday," a source on Friday said.
The airport is proposed to be developed through public- private participation (PPP) by setting-up a special purpose vehicle (SPV) with 26 per cent equity contribution from CIDCO.
Shares of IVRCL climbed more than 5 percent intraday Monday after sources told CNBC-TV18 that the company is in final stages to sell two road assets.
Cyrus Guzder, Founder Member, Citizens for Justice and Peace says an FSI as high as 8 is not the most worrying thing here. It is the manner in which it is being done – the general increase in FSI across Greater Mumbai, where it has been increased from 1.33 or 2 to 3.5 and even up to 6 - that is worrying.
IVRCL is also in talks with Tata Realty to sell Tamil Nadu-based three road projects. If this sale goes through, the company will perhaps be able to reduce its debt by another Rs 1500 crore.
FY14, a year Mistry himself characterised as challenging, saw the Tata Group's dividend income slip only marginally to Rs 3,770 crore. A whopping 96 percent of this money, or Rs 3,627 crore, came from TCS.
The national advisory council headed by Sonia Gandhi has made some strong recommendations on land acquisition policy. CNBC-TV 18’s Gopika Gopakumar reports on whether these recommendations are making industrialization tougher.
On CNBC-TV18, NC Saxena, member of the NAC and Sanjay Ubale, CEO of Tata Realty discuss two sides of the coin.
The Central Bureau of Investigation has now turned its scanner on Vinod Goenka—the chairman of DB Realty. Unitech MD Sanjay Chandra is also reportedly at the CBI headquarters to be interrogated.