- Bangalore Among World’s Top 20 Tech-Rich Cities July 7, 2015
New Delhi: Bangalore has been ranked 12th in a list of top twenty “technology-rich” cities in the world, according to a survey conducted by global property consultant Jones Lang LaSalle (JLL).
“Bangalore has helped India debut on the ‘City Momentum Index’ Top 20 list – an annual survey carried out by JLL globally. Reinforcing the city’s status of being one of India’s premier technology centres, Bangalore figures at No. 12 in the Top 20 technology-rich cities globally,” JLL India chairman and country head Anuj Puri said in a statement.
London, San Jose and Beijing are top three cities on the list.
Good economic growth, investments in infrastructure, presence of start-ups and a significant supply of prime office space are some of the factors that contributed to Bangalore’s strong performance in the survey.
- Godrej Properties to Develop Housing Project in Bengaluru July 7, 2015
New Delhi: Realty firm Godrej Properties on Wednesday said it will develop a new residential project in Bengaluru.
Godrej Properties, the real estate development arm of the Godrej Group, has “added a new project off Kankapura Road, in South Bengaluru to its development portfolio”, the company said in a statement.
SPV Godrej Home Constructions Pvt Ltd will be developing a mid-income residential housing project over about 18 acres of area.
This is the third project signed by the company in Bengaluru during 2015 and fourth project through the APG anchored investment platform on Pan India basis.
“Bengaluru is one of the leading markets in the country and is an important growth region for Godrej Properties. We look forward to building an outstanding new project at this location,” managing director and CEO Pirojsha Godrej said.
- NCR real estate correction shakes out speculators from the market July 30, 2015
Bengaluru: The real estate market in the National Capital Region (NCR), the largest in the country, is now dominated by buyers looking for a home for themselves, as falling launches, collapsed sales and the pile of unsold homes have chased out short-term speculators betting on future price increases, a Knight Frank India report said.
Depressed market sentiments have also forced long-term investors who have remained invested over the 3-4 year construction period of a project to look for exits, the research report said.
“Stagnant prices and delayed project deliveries have contributed towards investors entering into a ‘distressed resale’ mode, as they are now offering to exit at a 15-20% discount than the primary market price,” the report said.
Residential unit launches in January-June were 11,360, 68% below the numbers a year ago. With investors avoiding property as an investment option and end-users feeling let down by delayed projects, developers were pressed to restrict new launches during this period, resulting in fewer homes coming into the market.
Sales fell by half during the same period, to just 14,250 units. The six-month sales were, however, 18% more than sales seen in the July-December 2014 period.
Data from the report shows that as the buyer profile changes with more real homebuyer participation, most launches this year were in the ‘affordable’ segment.
- President Pranab Mukherjee Cuts Short Karnataka Visit Over APJ Abdul Kalam’s Death July 28, 2015
BENGALURU: President Pranab Mukherjee will fly back to Delhi on Tuesday morning, cutting short his visit to Karnataka following the sudden death of former president APJ Abdul Kalam in Shillong on Monday night.
“The president is returning to Delhi on Tuesday morning instead of evening, cancelling his programmes during the day,” a protocol official told IANS.
The president is on overnight stay at Raj Bhavan in the city centre.
President Mukherjee was on a two-day visit to this southern state for attending a few events at Mysuru, Bengaluru and Kalaburgi in the state’s northern region.
- Prestige Estates in talks to buy out PE in Exora July 9, 2015 BENGALURU: Bengaluru-based real estate developer Prestige Estates Projects is in final talks to acquire private equity fund Red Fort Capital’s 62 per cent stake in the city’s Exora Business Park, which is valued at Rs 1,300-1,500 crore.
“We are in the process of concluding the discussions with Red Fort and are firming up the terms, and will soon be entering into a final agreement,” the company said in a statement to the Bombay Stock Exchange. Prestige Estates submitted its letter of o ..
- Puravankara Projects sells 18 acre plot to Godrej Properties worth Rs 140 crore July 8, 2015
BENGALURU: Real estate developer Puravankara ProjectsBSE -1.39 % has sold an 18 acre land parcel off Kanakpura Road in Bengaluru for Rs 140 crore to Godrej PropertiesBSE -0.06 % and Dutch pension services provider APG.
“Puravankara has 40 acres of land within a radius of six kilometres and this was part of the surplus land that the company monetised,” said an executive with knowledge of the matter.
The Bengaluru-based developer plans to use the money for retiring the debt o ..
- Ten questions to ask before you buy a house July 8, 2015
No loans to repay, modest aspirations and not a very ambitious retirement target. For Mumbai-based bank executive Alpesh Mehta and his schoolteacher wife Deepali, saving for their child’s education and marriage, as well as their own retirement, will be a breeze. But this could change if another goal set by Alpesh elbows its way into the Mehta’s financial planning. “I have always wanted to have a house of my own,” he says.
His home buying plans can derail the family’s financial planning ..