Connaught Place now 7th costliest for office space
Dec 21, 2013
Source : The Times of India

 

DELHI: Connaught Place has slipped two notches to become the world’s seventh costliest office destination due to slowdown in the realty market and fall in rupee’s exchange rate, property consultant CBRE has said.

Mumbai’s Bandra Kurla Complex (BKC) is at the 15th position, while Nariman Point stood at 32nd. Occupancy cost of CP stood at USD 156.65 per sq ft per annum. CBRE Prime Office Occupancy Costs survey provides data on office rents and occupancy costs as of September 2013. In the previous report, CP was ranked 5th, Mumbai’s BKC was at 11th and Nariman Point 26th.

Commenting on the report, CBRE south Asia chairman and managing director Anshuman Magazine said, “In India, the drop in rankings is reflective of the slower Indian real estate market coupled with rupee depreciation recently”.

Latest Realty News

Public Private Partnership: Bridging the gap
Dec 21, 2013
DELHI: Public Private Partnership (PPP) broadly refers to long-term, contractual partnership between the public and private sector agencies, specifically targeted towards financing, designing, implementing and operating infrastructure facilities and services that were traditionally provided by the public sector. PPPs are therefore “cooperative venture between the public and private sectors, built on the expertise of each partner that best meets clearly defined public needs through the appropriat
Infrastructure public private partnerships need more flexibility: Kamal Nath
Dec 21, 2013
DELHI: Urban development minister Kamal Nath called for a more flexible approach towards infrastructure projects in order to meet India's target of developing new infrastructure worth one trillion dollars over the next few years.
RBI to relax norms for takeover of infrastructure loans
Dec 21, 2013
DELHI: The Reserve Bank of India will soon relax norms for the takeover of infrastructure loans, allowing them to be treated as standard assets even if they are rescheduled during the process. Under the current rules, any rescheduled loan is treated as a non-performing loan (NPL) for which banks have to make provisions
Realty-high GSC to invest $1 bn in India over 3 yrs
Dec 21, 2013
DELHI: A slowdown in the real estate space does not seem to have dampened US-based private equity firm Golden State Capital (GSC), which has decided to invest close to $1 billion in India over the next three years through its real estate investment trust (REIT). It also expects to get its REIT listed on the Singapore stock exchange next year.
Realty firms seek priority sector status for low-cost housing
Dec 20, 2013
DELHI: After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
Connaught Place seventh costliest office mkt in world: CBRE
Dec 20, 2013
DELHI: Connaught Place in Delhi has slipped two notches to become the world's seventh costliest office destination due to slowdown in the realty market and fall in rupee's exchange rate, property consultant CBRE said.
Lutyens' Delhi: Rentals shoot through the roof as rich line up to rent sprawling properties
Dec 20, 2013
DELHI: Guess what's the new fad among rich Indians? Renting a bungalow in the verdant Lutyens' Delhi, where the country's high and mighty live.
SBI slashes home loan rates by up to 0.4 per cent
Dec 20, 2013
DELHI: Two biggest housing financiers SBIBSE 0.60 % and HDFCBSE 0.71 % on Thursday cut home loan rates by up to 0.4 per cent for new borrowers, a day after the Reserve Bank kept its key policy rates on hold.
DLF completes sale of 74% stake in life insurance JV to DHFL
Dec 19, 2013
DELHI: Realty firm DLF has completed sale of its 74 per cent stake in the joint venture DLF Pramerica Life Insurance to Dewan Housing FinanceBSE 0.57 % for an estimated Rs 250-300 crore.
Realtors expect positive sentiment from RBI's bold policy move
Dec 19, 2013
DELHI: Real estate developers and property consultants today hailed RBI's decision to not raise the key policy rates, saying that the bold move by the apex bank would infuse positive sentiments in the property market.

Latest Realty News Of State

Realty Talk's