The deal is expected to be around Rs 1,000 crore (Rs 10 billion) in size and will take a month to conclude, a person involved with the talks between the two groups said. The plot is a part of the 18.5-acre land RIL had bought in 2006 from Mumbai Metropolitan Region Development Authority for Rs 1,104 crore (Rs 11.04 billion) in an auction.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
Piramal Fund Management has emerged as the largest lender to real estate developers at a time when the sector is facing severe slowdown.
Wants to jointly develop the office space at Bandra-Kulra Complex.
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
Plan to lay off excess staff, trim salaries of top executives.
The average home prices in Mumbai have touched Rs 12,000 per sq ft
Experts say that the lockdown and its aftermath will further quicken the consolidation in the real estate sector, which has been taking place since 2012, with more small players going out of the business and bigger, branded players dominating the market.
States such as Maharashtra have made it mandatory for developers to register the ongoing projects
Canada Pension Plan Investment Board has stringent processes and systems, which are proving to be a stumbling block
The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
Indian Railways under Piyush Goyal has chalked out a new plan for station redevelopment. Railway stations in 15 cities may soon offer residential apartments.
Mumbai developers are battling high inventory.
Renowned realtors are shying away from the private equity (PE) route to raise funds.
Both Obama and Modi have taken bold steps towards laying the groundwork to give a big push to Indo-US trade, and now it's time to execute, says Bikash Mohapatra.
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