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.
Amidst lending reluctance from banks, real estate developers are turning to lease discounting for ongoing commercial projects, providing banks with guaranteed cash flow and a safer lending option.
India's office space absorption dropped 41% in the first three quarters of 2008 due to the global economic slowdown, impacting office rentals.
Choice Hotels plans to invest fifteen hundred crore rupees over two years to expand its hotel count in India from 25 to 50.
GMR Group seeks bids for hotels near Delhi Airport, aiming for Rs 1,375 crore in security deposits. The 45-acre hospitality district project, delayed since 2008, features plots for budget to ultra-luxury hotels.
India's IT hubs face oversupply of office space, leading to potential high vacancy rates and financing difficulties for builders.
Akruti City identifies new growth spots in bus terminals and warehouses, formalizing JVs with the Gujarat government and NCDEX.
The shift towards tier II cities like Chandigarh is benefiting realtors, with new malls promising job creation and variety for residents.
Maharashtra's government relaxes property regulations for IT parks, allowing a larger financial services footprint to boost Mumbai's commercial realty market.
Millennium Spire Ltd (MSL) plans to invest $200 million in Indian real estate, focusing on mixed-use complexes, IT parks, and residential/commercial projects in NCR and Coimbatore.
India's warehousing sector is projected to grow at 35-40% annually, potentially reaching a $55 billion industry with significant logistics expansion in three years.
Mahindra & Mahindra is considering real estate and IT investments in West Bengal through Mahindra Life Space and Mahindra World City, focusing on residential and SEZ development.
Office rental prices in key cities like NCR, Mumbai, and Bangalore are expected to remain stable despite increased supply, according to a recent CBRE report.
Prestige Group, led by Irfan Razack, reflects on the success of The Forum mall in Bangalore, highlighting the critical factors for retail success in India's booming mall culture.
A global real estate consultant warns that the US economic slowdown could reduce demand for IT/ITeS office space in Gurgaon and Noida in 2H08, impacting growth in Delhi NCR suburbs.
Indian hoteliers are importing built-up rooms and fittings from China to offset rising construction costs, which have surged nearly 40%, thus saving time and expenses.
Leading hotel chains and top developers are bidding for Dawnay Day's Ten Hotels and other assets in India, valued at Rs 500-700 crore. ITC, Royal Orchid, Pride Hotels, Sarovar, Lemon Tree, DLF, and Paraswanath among contenders.
Ansal API and Raheja Developers are investing substantially in SEZ projects to revive a sluggish real estate market, with ambitious plans across multiple states.
Berggruen Holdings plans to invest over Rs 1,000 crore in India by 2012 to establish 3- and 4-star hotels. The company has secured funding from IDFC and is exploring additional funding options.
Ansal Properties and Infrastructure Ltd. plans to establish SEZs in Greater Noida, Haryana, and Rajasthan, alongside residential and commercial projects in various North Indian cities.
Mumbai is the top choice for logistics and warehousing investment, attracting $200 million. Smaller cities like Nagpur, Gurgaon, and Visakhapatnam are also emerging as promising logistics hubs.
MMRDA offers two large plots in Wadala, Mumbai for 80-year lease. One plot is for a commercial complex and the other for a multiplex, aiming to attract major developers and financial institutions.
Mantri Developers has secured a 4.9-acre plot in Siruseri IT Park for Rs 10.5 crore per acre, setting a new benchmark for Chennai's real estate market.
Luxury and premium brand retailers are seeking quality retail spaces for expansion, with new office moves reflecting a shift towards luxury malls, enhancing brand visibility.
India's logistics sector is projected to boom, reaching $385 billion by 2015. 110 logistics parks are expected by 2012, boosting industrial activity and real estate in tier-2 and tier-3 cities.