News

Singapore’s GIC, Phoenix Mills to set up retail properties platform in India

Singapore’s sovereign wealth fund GIC has entered into an agreement with India’s largest mall developer and operator the Phoenix Mills and its subsidiaries to set up a strategic retail-led mixed-use properties development platform in the country. To begin with, GIC will be picking up around 26% in a certain retail and office assets portfolio owned […]

Leasing by co-working operators to rise by 42% in 2021: Report

NEW DELHI: Leasing by co-working operators is expected to increase by 42% in 2021 at 4.9 million sq ft over 2020 with shared offices likely to gain greater significance in the post-Covid world, according to a recent report by Savills India. In 2020, co-working players are expected to lease around 3.4 million sq ft accounting […]

Forest department to issue 62 notices over illegal construction in Faridabad Aravalis

GURUGRAM: The district forest department of Faridabad will soon serve show-cause notices to 62 farmhouse owners for illegal construction in Anangpur and Mangar areas of the Aravalis. The owners will be asked to reply within a week, officials from the department said. The notices will be served this week as per the directions of National […]

Gurugram: Emaar Greens residents meet deputy commissioner over CAM fee hike

GURUGRAM: Residents of Emaar Gurgaon Greens in Sector 102 met deputy commissioner Amit Khatri on Tuesday and demanded rollback of the proposed hike in common area maintenance (CAM) rate. They have sought reduction of the current CAM rate from Rs 3.65 per sq ft to Rs 2. The residents said they are already paying very […]

NMRC asks Noida authority to sell commercial land to generate over Rs 700 crore

NOIDA: In dire need of funds, Noida Metro Rail Corporation has decided to monetise one of its prime assets in order to raise capital required for future expansion. The joint venture company formed to operate the Aqua Line (Noida–Greater Noida metro) has asked the Noida Authority to auction a commercial plot in Sector 94 and […]

Godrej Properties acquires 43.61 acres land from BPTP in Faridabad

NEW DELHI: Godrej Properties has acquired 43.61 acres (17.65 hectares) land parcel from BPTP in Faridabad. The project will have plotted development potential of about 1 million sq ft This is company’s first plotted development project in the National Capital Region (NCR). Godrej Properties had recently said that they will acquire 26.58 acres land in […]

Property brokers in Gurgaon to move court against capping on brokerage

NEW DELHI: Real estate brokers in Gurgaon are planning to challenge in court a directive issued by the HaryanaReal Estate Regulatory Authority (RERA) capping the brokerage on real estate transactions at a maximum of 1%, a move that may have far reaching consequences for the broker community. Haryana RERA, in a directive last week, had […]

Blackstone’s Nucleus Office Parks targets 24.5 million sq ft by 2020 end

Blackstone Group is scaling up Nucleus Office Parks, an entity that houses commercial properties fully owned by the group, in a bid to own 24.5 mn sft of office parks by the year end, a senior official told ET. Half Blackstone Group’s portfolio is in Southern India. “Nucleus will expand its capability in terms of […]

Four condominiums in Gurugram may face blackout

GURUGRAM: Four condominiums in Gurgaon and two in Faridabad are likely to face outages from Tuesday, when the sanction to use diesel generator (DG) sets from the now-defunct EPCA lapses. The Graded Response Action Plan (GRAP), put in place by the SC-appointed Environment Pollution (Prevention & Control) Authority to tackle air pollution during winter, had […]

Tech-based realty platforms to raise more funds for investment in commercial assets

As fractional real estate investing gains momentum during the Covid-19 pandemic, the tech-based real estate investment platforms promoting the concept are set to raise additional funds to invest in multiple grade A commercial assets across Mumbai, NCR and Bengaluru. Hbits, which invests money raised from individuals to commercial assets, said that it is in the […]

Soon, a policy on division of plots of over 200 sq yards in Haryana

GURUGRAM: The Haryana government is preparing a policy for division of plots measuring more than 200 sq yards, chief minister Manohar Lal Khattar said on Saturday. The policy, he said, would be tabled in the next cabinet meeting. Khattar said it had been decided that the sizes of plots to be divided should be more […]

Money received from tenant as part of compensation, damages should be taxable: Delhi HC

Money received by property owner from the tenant after termination of a lease agreement either as part of compensation, damages or ‘mesne’ profits should be treated as his income and subjected to tax, a Delhi High Court has ruled. As per the detail of the case a property owner had entered into an agreement with […]

© 2020 Prithvi Estates, All Rights Reserved.

Register Your Property