IL&FS Transportation Networks Ltd said it has sold 49% equity stake in Rapid MetroRail Gurgaon Ltd for Rs 509.9 crore. It did not disclose the name of the buyer in a filing to the Bombay Stock Exchange.
Other income increased to Rs 153 crore during October- December quarter of 2015-16 fiscal from Rs 123 crore in the year-ago period.
Demand for organised real estate in India will reach around 1.35 billion sq ft by 2020, up from around 880 million sq ft currently.
Net absorption of office space in the top eight cities of the country dropped one per cent to 33.5 million sq ft on the back of increased relocations and consolidations deals.
Following SC observation, real estate companies say building plans approved only after environment clearance
Environment clearance, however, has been a sore point with builders because it is the biggest contributor to delays in building projects.
Noida-based builder Supertech has paid Rs 415 crore to PE fund Xander for partial exit from the company, said a person close to the development.
CBRE said that the demand for space during the year was led by Bengaluru, with a 32% share of the total absorption, followed by Delhi-NCR.
HDFC Ltd has said that it is raising a Rs 5,000 crore fund with a 12 year tenure to invest in mass housing.
According to property advisory firm CBRE office space leasing in 2015 was the highest ever in India’s top seven cities at 38 million sq ft
Pramod Saxena, managing director of Oxigen Services said this will give his company a significant branding opportunity.
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