Published on 17/07/2017 5:06:10 PM | Source: Equirus Securities Pvt Ltd
Real Estate Sector Update - Equirus Sec
Co-working space leasing in India to touch 10 million sq ft by 2020: CBRE
Co-Working space leasing in India is expected to touch 10 million after by 2020 with the concept of shared office space fast catching up in India. According to CBRE, demand more than tripled in 2016 to touch 0.7 million sq. ft. as compared to 2014. Further this year the leasing is expected to cross 1.5 million sq. ft. with 75% of these centres spread across Bengaluru, NCR and Mumbai . Each of these centre have more than 100 shared office spaces followed by Hyderabad, Chennai and Pune.
240-acre smart city to come up in Delhi's Ghitorni
The government of India is planning to develop a 240-acre greenfield city with smart city features at Ghitorni in the national capital, with an estimated to cost over Rs 15,000 crore. The project is proposed to be jointly developed by Central Public Works Department (CPWD) and National Buildings Construction Corporation (NBCC) on self-financing basis. The project will have around 6,500 homes under the general pool residential accommodation (GPRA). While CPWD would build GPRA houses and office space for public sector agencies, NBCC would build about 500 homes and office and commercial space to be sold to others.
102 realtors owe Gr Noida Rs 4,000 crore
The Greater Noida Industrial Development Authority (GNIDA) has uploaded a list of realtors, including group housing and industrial developers, who have defaulted on payments. Putting out a list of 1,363 defaulters on its website, the GNIDA has warned of strict action including lease deed cancellations and issuance of recovery certificates if defaulting allottees do not opt for the rescheduled payment plan. GNIDA is dealing with dues amounting to more than Rs 4,000 crore.
Real estate industry gives thumbs up to Punjab budget
The state finance minister of Punjab, announced that real estate sector are being hailed by realtors and property dealers. Businessmen in the real estate sector are of the view that the incentives will give a boost to the sector. The government also feel that formulation of the NRI property safeguard act will bring NRI investors to Punjab again
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