2022-10-07
Yamuna Expressway Industrial Development Authority (YEIDA) has planned to launch a mixed-land scheme under which industries will set up along with commercial and residential structures on the same premises. While allottees can develop industry on 75% of the land allotted to them, the remaining plot can be used for residential, commercial and even institutional purposes.
2022-10-07
The enforcement wing of the department of town and country planning (DTCP) partially demolished 27 flats in Palam Vihar area after developers and property owners unlocked these units that were sealed by the authorities and started remaining construction again. As many as 32 flats, illegally constructed by developers in the area, were recently sealed by DTCP.
2022-10-07
Flexible workspaces across India’s six major cities are expected to account for 20% market share of the overall office space demand reaching 12 million sq ft by the end of 2022. Co-working operators have leased over 75,000 seats in H1 2022, compared to 60,000 seats in 2021. Almost 75% of the demand for co-working desks in H1 2022 can be attributed to the three largest flex markets - 45% in Bengaluru, 20% in Pune, and 10% in Hyderabad.
2022-10-07
Macrotech Developers, erstwhile Lodha Developers, has registered 57% year-on-year growth in pre-sales at Rs 3,148 crore for Q2 FY23. It recorded pre-sales of Rs 6,004 crore in H1 FY23. Lodha's net debt reduced to Rs 8,796 crore in the second quarter of the current financial year. Company's collections in India were Rs 2,375 crore, up 24% year-on-year in Q2 FY23.
2022-10-07
WeWork India, a flexible workspace provider, has signed lease agreements for two new buildings namely Embassy One & Kalyani Roshni Tech Hub in Bengaluru. The workspace at Kalyani Roshni Tech Hub spans over 310,000 sq ft. It houses over 5,000 desks spread over eight floors. Embassy One is spread across over 52,000 sq ft with a capacity of over 600 desks across two floors.
2022-10-06
The Maharashtra state cabinet approved restarting of the housing loan scheme for police personnel. The amount required to be given as loan is around Rs 900 crore, said sources, but budgetary provision was only Rs 80 crore. In 2019, when the scheme was discontinued, there were 3,500 applicants but the number of applicants had gone up to over 5,000.
2022-10-06
Many wealthy Indians are paying in cryptocurrencies to buy properties in Dubai, with leading realtors in the emirate accepting the digital coins to cut deals. With the Reserve Bank of India (RBI) imposing a shadow ban on cryptos and the finance ministry almost taxing the asset to death, many high net-worth individuals (HNI) investors have moved their cryptos to Dubai and other financial centres.
2022-10-06
Property consultant Anarock is targeting 37 per cent growth in revenue this fiscal to Rs 550 crore driven by rise in housing sales and income from other advisory services. Mumbai-based Anarock, one of the leading housing brokerage firm, had achieved a 32 per cent growth in its revenue at Rs 402 crore during the last fiscal year.
2022-10-06
CBRE Investment Management has deferred redemption payments on its UK property fund due to market conditions. Sharp rises in interest rates this year have encouraged pension funds and other institutional investors to switch out of property funds, industry consultants say, as they no longer need to hunt out yield through investment in riskier assets.
2022-10-06
Home sales in the Greater Toronto Area fell in September, while the average selling price edged up slightly from the previous month, data from the Toronto Regional Real Estate Board (TRREB). The average selling price in the region edged up 0.7% from August to C$1.09 million ($806,511), supported by condos, though prices are down 4.3% on the year.
