Industry News: Real Estate
• The growing flow of FDI into Indian real estate is encouraging increased transparency. Developers, in order to attract funding, have revamped their accounting and management systems to meet due diligence standards.
• Mumbai is the best city in India for commercial real estate investment, with returns of 12-19 per cent likely in the next five years, followed by Bengaluru and Delhi-National Capital Region (NCR). Also, Delhi-NCR was the biggest office market in India with 110 million sqft, out of which 88 million sqft were occupied. Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for office space in recent times.
• Kamathipura redevelopment may be easier than in Bhendi Bazaar There is no civil aviation restriction, and so towers can be constructed. Also, the plots are outside the coastal regulation zone notification.
• Tata Group bets big on home finance sector, to invest Rs 300 crore more
• Rs 3,000 crore deal: Race to acquire Leela Hotels in Delhi & Chennai hots up again
• DB Realty posts net loss of Rs 8.75 crore in June qtr
• China’s Fosun forays into Indian realty sector, may invest up to $1 billion via PE fund
• Kumar Urban raises Rs 300 crore from Altico Capital the funding proceeds will be utilized to refinance existing lenders and project construction