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| 11 August, 2020, 10:11 PM IST | E-Paper
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    Property / C'struction

    Embassy group looking to monetise warehousing biz at an enterprise value of up to Rs 2,000 cr

    Bengaluru-based Embassy group, which had in 2015 formed a joint venture with private equity firm Warburg Pincus to build industrial parks, is in talks with few potential buyers to monetise completed and under-construction assets of the JV.

    Construction software helped Bhubaneshwar authority to offer extra space at housing project

    The software enabled Inventaa to control the project in a centralized manner right from design to planning, monitoring and improving upon the execution of the project on-site. Trimble said that the tight block layouts at various parts and narrow approach for elements and crane positioning further added on to the already restricted site-space challenge.

    India's rental home market takes a hit as expats working in the country uncertain about return

    Real estate brokers said expats pay between Rs 1 lakh to Rs 10 lakh and, in some cases, even up to 30 lakh per month for apartments, villas, farm houses and bungalows but many of them are still uncertain about their return dates.

    Blackstone set to acquire Rs 12,745 crore of Prestige assets

    It will be Blackstone’s single largest realty investment in the country and will also eclipse the $1-billion raised through listing of India’s two real estate investment trusts (REITs) — Embassy and Mindspace Business Parks.

    Uttar Pradesh to soon have single window clearance system for developers

    A builder currently has to take 70-80 permissions through the entire project life cycle— from land acquisition to the completion of the project — from different authorities and getting permissions takes one to two years resulting in cost overruns, according to the developers.

    Rs 5 crore to Rs 12 crore luxury homes fly off the shelf in Hyderabad

    Hyderabad sold about 100 premier units between April and June, while the overall residential sales dropped to a decadal low during this period - to a dismal 974 units, as per latest market reports. In 2019, the city sold over 4,000 houses during the April to June period.

    SC reserves order on plea challenging NGT order quashing EC for Godrej apartments

    The apex court had earlier issued notices to the Centre, the Karnataka government and others on an appeal filed by Wonder Projects Development Pvt. Ltd. and others. Senior advocate A M Singhvi, representing the project proponent, had argued that the National Green Tribunal (NGT) had reproduced its order from another case and stopped the project despite requisite consents.

    In the National Capital Region, migrant labourers start returning to real estate projects

    According to RK Arora, president of Uttar Pradesh chapter of apex real estate body National Real Estate Development Council (NAREDCO), labourers who had left their work places in the wake of COVID-19 and the lockdown, have started joining real estate projects.

    Noida continues to drive office space leasing in NCR as companies take advantage of low rents

    Property consultants said low rentals, preference by IT companies and the upcoming airport at Jewar led to the surge despite the pandemic.

    Large deals bring real hope for ailing realty with a kickstart in leasing office spaces

    These deals indicate that India still offers compelling reasons such as cost arbitrage and a high-quality talent pool for MNCs to set up offices here, industry insiders said.

    Monetary Policy: RBI's loan restructuring move to provide breather to real estate

    Monetary Policy: RBI's loan restructuring move to provide breather to real estate

    “While the sector was looking at a further revision in the policy rate, to boost demand, we appreciate the accommodative stance by the RBI, in the wake of a high rate of inflation which may have necessitated keeping policy rates unchanged,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

    Covid-19 adversely affects office space, residential launches in top Indian cities

    Covid-19 adversely affects office space, residential launches in top Indian cities

    The total office space absorption for the half-year ended June added up to 13.6m sft for the five cities with positive traction in the first quarter softening the overall half-yearly decline to 31%.

    Godrej Properties to tap consolidation opportunities to grow market share

    Godrej Properties to tap consolidation opportunities to grow market share

    He said Godrej Properties is well prepared to tap into growth opportunities that may present themselves given that there is some distress in the sector, as a lot of developers are struggling with cash flow issues and a demand slump.

    Developer ESR acquires 39-acre land in Chennai for logistic park

    Developer ESR acquires 39-acre land in Chennai for logistic park

    ESR, a venture of private equity firm Warburg Pincus and global investors, said the warehousing space is witnessing high demand and the pandemic has boosted the sector further. The developer is also in talks to acquire another 60 acres of land in Chennai and 40 acres in Lucknow.

    Revenue of mall operators set to halve this fiscal due to Covid-19-driven lockdowns: CRISIL

    Revenue of mall operators set to halve this fiscal due to Covid-19-driven lockdowns: CRISIL

    “We expect a 50-100% lease waiver for the period of lockdown, followed by a 30-50% concession in rentals in the current quarter and the next, which will reduce to 0-20% in the quarter to March. A gradual build-up in revenue can be expected from the current quarter, though for the fiscal overall, a revenue loss of 45-50% appears to be in order,” said Sachin Gupta, Senior Director, Crisil Ratings.

    UK, Spain and France top three locations for those planning to move abroad post-Covid-19: Survey

    UK, Spain and France top three locations for those planning to move abroad post-Covid-19: Survey

    “Buyers expect property prices to decline over the next 12 months, although 53% of respondents say their budget has remained the same or increased since the start of the crisis. Over a quarter of respondents say they are more likely to buy a second home as a result of the pandemic,” the survey finds.

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