Construction

RBI repo rate hold likely to boost homebuyers’ sentiment to invest

The real estate sector has welcomed the Reserve Bank of India’s decision to keep the repo rates unchanged at 6.5%, saying that the move provides much-needed relief to homebuyers and helps them to continue enjoying low-interest rates. RBI Governor Shaktikanta Das(PTI file photo) The move is expected to maintain the ongoing momentum in housing registrations in the final month of the year and...

Embassy Industrial Park completes acquisition of 124 acre land near Bengaluru

Embassy Industrial Park Hosur Pvt Ltd, a subsidiary of Embassy Industrial Parks, has acquired a land parcel measuring around 124.21 acres from the Karnataka Industrial Areas Development Board for ₹176.57 crore, documents accessed by Propstack showed. Embassy Industrial Park Hosur Pvt Ltd had been allotted a land parcel by Karnataka Industrial Areas Development Board for setting up an...

IT SEZs now allowed to lease space in major real estate reform

The government has permitted Special Economic Zones to lease space partially or in terms of floors, enabling operators of office parks across the country to increase occupancy of their properties. The skyline view of Cyber City, Cyber Hub and Gateway tower building, in Gurgaon, India.(Parveen Kumar/HT File Photo) Real estate experts hailed the move. The reform is a significant step in the...

Office rental values increase by 7 percent in top seven cities

In H1 FY2024, Grade A office space rental value across the top 7 cities averaged at ₹83 per sq ft per month - up from an average of ₹77.5 per sq ft per month in the corresponding period in FY23. Chennai witnessed the highest 10 percent yearly increase in average office rental values, followed by Hyderabad with an 8 percent yearly growth Office space (Representational) Office rental values...

HCC sells 58.30 acre land parcel in Panvel for ₹95 crore

Hindustan Construction Company (HCC) has sold a 58.30-acre land parcel in Panvel in Raigad district near Mumbai to a Uran-based construction company for ₹95 crore as part of its plan to monetize its assets under a resolution plan worked out with 23 lenders. Representational photo The 2,36,890 sq m land parcel was put on the block for e-auction as part of the monetisation plan and...

Brigade Group signs JDA for office space in Bengaluru with ₹500 cr dev value

Brigade Group has entered into a Joint Development Agreement (JDA) to develop a premium Grade A office space in Bengaluru’s Central Business District, with a development value of ₹500 crore. Bengaluru(Shutterstock) The developable area of the project is around 0.20 million square feet, the company said. Stay tuned with breaking news on HT Channel on Facebook. Join Now “This development...

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