Best Western India opens 13th operational property, 'Best Western Classic Avenue', a 60-room luxury hotel in Kerala, with plans to add 70 more rooms.
Mafatlal Industries plans to sell an 85,000 sq ft property in central Mumbai to revive its operations, with bidding expected to start soon.
Navi Mumbai emerges as top destination for commercial real estate investment, offering competitive prices and growth opportunities.
Delhi NCR sees a significant drop in commercial real estate rentals as businesses shift from Gurgaon to more affordable locations, impacting transportation costs.
Office rentals in Gurgaon have skyrocketed, pushing companies to relocate to other cities like Delhi and seek furnished spaces at more affordable rates.
New Delhi witnesses a 25% decline in retail rentals. The city ranked 69th globally in Q1 2023 due to decreased consumer spending and rising unemployment.
India's commercial real estate market is rebounding, driven by rising government revenues and an improving economy. This has led to increased investor inquiries and rental deals.
Lodha Developers offers Rs 710 crore for a 10.3-acre NTC mill land in Mumbai, potentially the largest real estate deal of the year.
Mumbai's commercial real estate market sees revival as Lodha Developers and Indiabulls bid for Finlay Mill, and Kohinoor Mill-1 is set for auction.
DLF aims to raise Rs 300-500 crore by selling its stake in a joint venture with Akruti City for a commercial project in Andheri, part of a larger debt reduction strategy.
Franklin Templeton raises $383 million Asian real estate fund to capitalize on distressed assets in Hong Kong, Singapore, and other Asian markets.
IT-BPO sector's recession woes force real estate developers to shelve projects, slash rentals, and renegotiate leases in India
The Satyam scandal may negatively impact India’s real estate sector, with significant concerns centered on commercial and residential space vacancies amid IT industry challenges.
Malls in India see 16% vacancy rate as brands shift to high street stores due to viability, visibility, and branding issues.
The global economic slowdown has led to increased vacancy in prime commercial districts, including Mumbai's Nariman Point. The trend is similar in other major cities like New York and Chicago.
Retail space development in India lagged by 54% in 2008, with only 34 of 74 planned malls delivered. High vacancy rates and economic slowdown contributed to developers deferring projects.
Uttaranchal's real estate is vying for foreign investment amid rapid growth, buoyed by favorable government policies for developers in Dehradun's burgeoning market.
RIMC International and Sahil Group form joint venture to manage hotel projects in India, aiming to operate 20 properties by 2012 with an investment of three million USD.
Premium hotel room rates drop 25% due to occupancy decline. Hotels target steady segments like cabin crews and long-stay programs to combat the slowdown.
16 new malls are set to open in the tricity within a year, despite existing malls like Uppal’s Centra Mall and DT Mall struggling with low footfalls beyond cinema visitors.
Global economic turmoil impacts Asia Pacific property market with rising vacancy rates and declining office space leasing.
Frasers Hospitality expands into India, signing contracts for three Bangalore properties. Fraser Residence Beverly Park and Fraser Place Whitefield will open in June 2009, with Fraser Place Hosur Road slated for 2011.
Unitech to Sell 6 Hotel Projects to Reduce Expenditure
Atria group plans to expand its Indian hospitality sector portfolio with 1500 new rooms across multiple cities, including the launch of Atria Grand in 2009.
Travel India Marketing launches 60-room serviced apartment in Malad, targeted at corporate long stays and businesses in Mindspace. Rooms will be offered at promotional rates.
