Mantri Developers launched Mantri Square, one of India's largest malls, in Bangalore. The mall features metro connectivity, 252 retail outlets, and a public-private partnership with BMRCL.
Oracle India's deal for 1.2-million sq ft of office space in Brigade Northstar has collapsed due to pricing differences, halting plans to move 8,000 employees.
Office rentals in India stabilized in the September quarter, with varied trends across cities. Economic improvement and corporate confidence drive demand.
DDA awards Delhi's 1st slum redevelopment project to Raheja Developers, worth Rs 500 crore, aiming to improve living conditions for urban poor and generating substantial business for builders.
RBI considers increasing risk weight on commercial real estate loans by up to 200 basis points to prevent a market bubble, potentially impacting real estate firms.
Mumbai anticipates highest residential demand, while Bangalore leads in office and retail space. Pune shows strong retail growth potential.
ITDC is renovating Hotels Janpath and Samrat in New Delhi. Hotel Janpath will feature in-room spas and a rooftop solarium, with an estimated investment of Rs 45 crore.
HDIL will book INR 350 crore in the remaining quarters following an Income Tax raid, denying any hidden income or tax evasion.
RBI revises guidelines on banks' exposure to Commercial Real Estate, distinguishing between property-dependent and profit-dependent loans.
Piramal Sunteck Realty acquired two plots in Navi Mumbai for residential and commercial development, with three others sold to different developers.
Delhi NCR sees a significant drop in commercial real estate rentals as businesses shift from Gurgaon to more affordable locations, impacting transportation costs.
CREDAI reports growth in residential & commercial real estate sectors, driven by affordable housing & reduced home loan rates, with a 60% increase in March.
Office rentals in Gurgaon have skyrocketed, pushing companies to relocate to other cities like Delhi and seek furnished spaces at more affordable rates.
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.
RBI's draft guidelines propose excluding entrepreneur real estate loans for business from CRE classification, potentially easing construction finance access.
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.
Unitech seeks to restructure Rs 800-crore loan from public sector banks, amid debt burden of Rs 2,500 crore due by March '09
IT-BPO sector's recession woes force real estate developers to shelve projects, slash rentals, and renegotiate leases in India
RBI revises norms for loans to hotels and hospitals, excluding them from commercial real estate exposure. Provisions for commercial real estate reduced, but may increase.
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.
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.
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.