Posts tagged India real estate
The Central Government of India has relaxed the stringent Coastal Regulation Zone (CRZ) rules for Mumbai and Navi Mumbai. This relaxation has given new hope to the new airport proposed near Panvel in Navi Mumbai.
The ministry has issued a draft CRZ notification that, in the city’s coastal area housing will get exemption if supported by public finance. The rules for the country’s 7500 kilometers-long coastline divides the shoreline into four zones and in the CRZ II areas in the city, slum rehabilitation schemes and redevelopment of dilapidated building will be allowed. Such redevelopment can be undertaken directly or through joint ventures. However all open spaces in Mumbai which fall in CRZ II areas will be No-Development zones.
Based in Mumbai, Prashant Salvi is NAI Global’s Regional Director for India.
India is set to have three dedicated special economic zones (SEZs) for aerospace in the next five years, just as global aerospace and defence majors stepped up outsourcing to India to meet local demands and cut costs. More >
India is set to have three dedicated special economic zones (SEZs) for aerospace in the next five years, just as global aerospace and defence majors stepped up outsourcing to India to meet local demands and cut costs.
According to Pricewaterhouse Coopers, India received the largest number of foreign investments in aerospace research and development in 2000-08. Also, India received the highest number of investments in aerospace manufacturing after China. More >
Gurgaon and Noida are key office locations in the Delhi NCR (National Capital Region) and are well differentiated real estate markets. Noida has considerably lesser stock, higher vacancy and lower rents as compared to those in Gurgaon. However, signs of convergence between the two markets are emerging.
Existing stock in Gurgaon is 33 million square feet, which is more than double that of Noida’s 13 million square feet. A relatively large development pipeline in Noida is set to increase its market size to more than 60% of Gurgaon in the next three years. This will help to bridge the gap between the two markets and provide strong impetus to developers and occupiers in Noida. More >
Real estate companies, which have planned big-ticket initial public offerings (IPOs) last year, are staying away from the market in spite of the prevailing favourable secondary market conditions. Though many small IPOs were enthusiastically lapped up by investors, real estate firms are sitting on IPO plans worth over Rs12,000-crore [$2.6 billion].
Sahara Prime City (Rs3,850-crore or $854.7 million), Emaar MGF (Rs3,450-crore or $765.9 million), Lodha (Rs2,800-crore or $621 million) and Ambience (Rs 1,125-crore or $250 million) are some of the major real estate players which announced their IPO plans last year, but are yet to launch. More >