The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
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Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
While office and mall properties enjoyed revival and saw some big PE deals, residential real estate was hit by double whammy - stagnating prices and demonetisation
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
he hike in service tax rate from 12.5 per cent to 14 per cent will increase the costs of buying
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Betting on the growing demand for hospitality services in Asia Pacific, especially in India and China, global real estate services firm Cushman & Wakefield has acquired two hotel consultancies to launch Cushman & Wakefield Hospitality, Asia Pacific.
Looking for a way out, property developers deal in banned notes.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
Four years after setting up a "home away from home" in the Franschhoek winelands of Cape Town, he is increasing his investments in the hospitality sector in South Africa.
Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore.
'Some business families would probably have to revert to their core businesses, which the IBC will ensure.'
Who is to take their place? Will a new generation of entrepreneurs start up with better business sense, or at least better luck? But the so-called unicorns are mostly copy-cat entrepreneurs whose cash flow is funded by overseas (including Chinese) money, notes T N Ninan.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
BNP Paribas is planning to set up a company that will provide discretionary portfolio management services, even as it plans to expand its private banking business in India by adding real estate and art investment advisory services.
The Mumbai-based real estate developer Oberoi Realty has been one of the top-performing companies in its segment and most brokerage remains bullish on the stock. The company's stock price is 52 per cent in the last 12 months beating the broader market by a huge margin. The benchmark BSE Sensex is up just 6.5 per cent during the period.
The government is coming up with this new law, replacing the Consumer Protection Act 1986, which will incorporate the revised 2015 UN guidelines on consumer protection.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
The dealers operating in the space have jumped nearly three times over the past two years.
Jaitley said the GST Composition Scheme, under which small traders and businesses pay a 1 per cent tax based on turnover, can be availed by businesses with a turnover of Rs 1.5 crore, against the earlier Rs 1 crore, with effect from April 1.
Simply put, tax evasion occurs when any trust, individual, or firm, seeks to avoid paying taxes by illegal and unfair means, by, for example, deliberately hiding income from the tax authorities to reduce the tax liability.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point
Is it a good idea to give Rs 1 crore to someone who promises you a return of 24% per annum, wonders financial advisor P V Subramanyam.
Over 25,000 sq ft leased by them in last three months after new maternity Act. Raghavendra Kamath reports.
Service sector and employees alike are embracing the gig economy in India.
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
Manish Sabharwal tackles 5 criticisms of demonetisation.
The telecom foray is the second diversification outside its core business of developing residential and commercial real estate -- it is already in the Special Economic Zone space with five zones to be set up across the country.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The plan was to sell off non-profitable businesses apart from focusing on four verticals: real estate, defence, financial services and retail
One reason for resistance to moonlighting is that WFH calls into question the necessity for the thick layers of middle and senior management which run most businesses, argues Devangshu Datta.
With Pirojsha Godrej at the helm, Godrej Properties posted a fourfold jump in profit in the third quarter of the current financial year, probably the only real estate company that did so well in that quarter.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
Sipika Singh switched careers from being a senior consultant with Ernst and Young to a regional marketing role in the pharma major, Novartis in Singapore.
