News & Facts

New Delhi: As per a report by Economist Intelligence Unit (EIU), there are four Indian cities where the “cost of living” is cheaper compared to other cities in the globe while, Singapore seems to be the most expensive one for the fourth consecutive year. Bangalore (3rd place), Chennai (6th), Mumbai (7th) and New Delhi (10th) have been ranked by EIU among the 10 cheapest cities in the world. The cheapest is Almaty in the world followed by Lagos. Karachi was placed 4th, Algiers (5th),... Read More
Nitesh, which is well known for its residential developments for the middle and the high-income groups will now focus on developing commercial spaces at a cost of Rs. 1,500 crore across the city. BENGALURU: In the next 3 years, the property developer Nitesh Estates will develop Grade A office spaces at a cost of Rs. 1,500 crore. Nitesh has so far focused on the residential projects across the city of Bengaluru. Now that it has shifted its focus on commercial segment, the company has decided to ... Read More
My Home, Telangana’s large and rapidly developing real estate house has joined hands with office space specialists RMZ group to develop a 10 million sq. ft. commercial property in Hyderabad. This project aims at developing 6,500 crore office space in 10 acres of land in Hyderabad. This prestigious property will be developed in Hyderabad Information Technology (IT) and Engineering Consultancy City, abbreviated as HITEC City. Both RMZ and MY Home group will be contributing at equal ratio in ... Read More
Real estate giant wave Infratech has expressed its interest into surrender 110 acres of land in sector 25A and 32 in NOIDA. The company has put it in black and white to Noida Authority that it wants to surrender 110 acres of the allotted 152 acres near spice Mall, Noida to build a mixed land use project. The Wave City centre project in Noida was allotted in March 2011 and was valued at Rs.6,500 Crore at the time of its launch. Land area totaling to 152 acre was allotted to Wave Infratech at the... Read More
Pragnya Group, an investment firm is buying 51% stake of Chennai township project which is owned by L&T's arm, L&T Realty. "L&T Realty Ltd, a wholly-owned subsidiary of Larsen & Tourbo Ltd, has executed a share purchase agreement to sell its entire stake in L&T South City Projects Pvt Ltd to Pragnya group," the construction firm notified in the BSE filing. The L&T South City Projects Pvt Ltd is engaged in developing a 92-acre residential township at Siruseri, Chennai. L... Read More
NEW DELHI: Hilton has come up with an idea to open 18 new hotels across the country due to the advantages envisaged by the management. There are about 15 hotels in operation in India already, with a total of 2400 rooms, namely Conrad, Hilton Hotels & Resorts, DoubleTree by Hilton, Hilton Garden Inn and Hampton by Hilton. Andre A Gomez, The Hilton Head of Operations-India said,"There are about 15 hotels in India at present and we have plans to add more number since the country has a lot of ... Read More
The Ministry of Home Affairs has identified the presence of 263 enemy properties in Goa estimated around 100 crore. This has come as a shock to the country, with the tension between two countries at its height. These properties belong to Indian nationals that have acquired Pakistani passports sometime in the past. The centre has plans to take control of these properties sooner or later by passing a law in the parliament. These enemy properties are registered in the names of Goan residents who ha... Read More
Talks about setting up real estate tribunals and regulatory authorities are reverberating through the corridors of real estate for the past few months. To protect buyers from the inexorable clutches of the realtors and to smoothen the relationship between them, the Odisha government has taken a serious step to set up a Real Estate Tribunal and Real Estate Regulatory Authority under the directives of the Housing and Urban Development Minister Pushpendra Singhdeo. The minister said that the seal a... Read More
MUMBAI: United Spirits (USL) is all set to auction its former owner and fugitive tycoon Vijay Mallya’s properties which include individual villas and bungalows in a few cities. The palatial residence in Mumbai namely Niladri on Nepean Sea Road, is also getting auctioned, after the tycoon failed to retain it legally before the deadline. The 13 properties across cities such as Delhi, Mumbai, Bengaluru, Kolkata, Scotland and Hong Kong are worth about $100 million, or Rs 680 crore, in rupees. ... Read More
DLF India’s largest real estate firm has planned to invest Rs.3,500 crore rupees to complete all its ongoing projects. The under construction projects in various housing projects is approximately 18.5 million square feet area in different locations across the country.DLF aims to complete these projects by the end of 2017. This will generate finished stocks in the market. In spite of the sluggishness in the market DLF is proceeding to complete all its projects. According to DLF's Group Chi... Read More
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