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Government approves 6 new SEZs for IT, biotech

Posted on Dec 02, 2016
The government has approved six proposals from four developers to set up new special economic zones (SEZs) across three states in areas such as IT and biotechnology.

The decision was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its November 9 meeting, an official said.

The developers who got nod for new zones include Vaxenic India, EON Kharadi Infrastructure and KRC Infrastructure.

GAR Corporation has proposed to set up two IT/ITeS zones in Telangana, while Vaxenic India wants to set up biotechnology and bio pharmaceuticals SEZ in the state.

EON Kharadi Infrastructure and KRC Infrastructure too have planned to set up separate IT/ITeS special economic zones in Pune. Information Technology Park has got the approval to set up IT zone in Karnataka.

The board has also given additional time to six developers and units to implement their projects.

G P Realtors had sought further extension of the validity period of formal approval granted for setting up electronic hardware and IT/ITeS zone in Haryana.

"The board, after deliberations, extended the validity up to November 13, 2017," the official added.

SEZs are export hubs, which contribute about 23 percent in the country's total outbound shipments.

Exports from special economic zones logged a marginal growth of 0.77 percent to Rs 4.67 lakh crore in 2015-16.

The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15.

As per the Commerce Ministry's data, as on March 31, these zones had attracted investments worth Rs 3.76 lakh crore and generated employment for 15.91 lakh people.

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Property prices, new airport make Navi Mumbai ideal as next big IT hub

Posted on Oct 06, 2016
With real estate costs that are nearly as competitive as those in Gurgaon, Pune or even some pockets of Bengaluru, Navi Mumbai is staking a claim to become the next big IT hub. At R50-55 per sq ft per month one can now rent Grade A office space in Vashi or on the Thane-Belapur Road. That compares favourably with the asking rate in some pockets of P ...
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Mumbai real estate: Upcoming Development Plan 2034 to augment growth

Posted on Aug 31, 2016
The latest version is a redrawn plan after the critical citizen feedback received on the earlier draft plan last year. Though in conservative measure, and treading cautiously after the criticism of the last version, the plan has laid out several measures to increase the development potential of Mumbai.The Revised Draft Development Plan 2034 for Mum ...
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The best places to buy a home in Hyderabad

Posted on Aug 12, 2016
Hyderabad has witnessed a surge in demand for commercial and residential properties. According to CBRE Indias report titled 禅he comeback of Hyderabad, 践yderabad is regaining prominence, as one of the leading destinations for real estate in south India. Political stability, the state governments proactive policies, growing occupier demand, impr ...
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City registers six per cent increase in rental values

Posted on Jul 28, 2016
HYDERABAD: As Hyderabad realty sector is seeing a recovery, rental values are rising in the city. While the tenants might see this as a stress on their family budget, realtors and investors are seeing this as a welcome trend.According to recently released April-June, 2016 Insight report by popular property portal 99acres.com, rental values in Hyder ...
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Lack of office space supply in B値uru leads to fall in absorption

Posted on Jul 15, 2016
BangaloreOffice space absorption dropped in Bengaluru in the second quarter ended June, mostly due to lack of ready-to-move-in quality office space in some important micro-markets. However, the overall quarter stood out, helped by the entrance of Apple and Diageo.Gross absorption dipped to 2.3 million sqft, from 2.75 mn sqft in the corresponding qu ...
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Private equity deals dry up, investments in India ease to 3-year low

Posted on Jun 20, 2016
New Delhi: Private equity (PE) space turned off-colour in May as PE investments slid to a three-year low due to absence of sizeable amounts, says a report.According to Grant Thornton, the global advisory, tax and assurance firm, there were 71 PE deals worth of $518 million clinched in May while it was 68 transactions worth $1,248 million in the sam ...
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Private equity deals rise by 100% in volume in July

Posted on Aug 17, 2015
Mumbai: July witnessed heightened activity in private equity (PE) deals, with deal volume seeing a growth of 100%, as compared with last July, according to Grant Thornton Indias deal tracker report.July was also the best month so far this year in terms of deal value, with PE and venture capital (VC) funds investing $2.15 billion across 110 deals, ...
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Bengaluru beats NCR in H1 apartment sales growth

Posted on Aug 13, 2015
BangaloreThe city has emerged as the second largest property market in terms of the growth in apartment sales, surpassing bigger market like National Capital Region in the first half of 2015, said Knight Frank India. According to the property consultancy, the first half of the financial year 2015, Bengaluru sold 22,234 residential units as compared ...
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Office space transactions down 70% in Kolkata during quarter ended June

Posted on Aug 13, 2015
KOLKATA: Office space transactions in Kolkata shrunk 70 per cent from a year ago to 0.25 million sq ft in during the quarter ended June due to low demand, showed a Colliers International India report.ITITeS remained as the key occupiers with 70 per cent share of the total absorption. Most of these transactions were at Sector V and New Town micro ma ...
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Slowdown continues in home sales and residential project launches

Posted on Aug 13, 2015
NEW DELHI: India has seen a 40 per cent drop in residential project launches and 20 per cent dip in home sales in the past one year, according to a report by property advisory firm Knight Frank which points to continuation of the slide that the market has seen for the past 30 months. The demand for office space has, however, revived in most parts o ...
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Home along GST Road up for grabs at just Rs 30L

Posted on Jul 14, 2015
Mukund Ravindran plans to buy a property in GST Road. He has recently shifted from Bengaluru and wants to know if it is a good idea to buy a property for investment purpose.For a lot of home buyers, arriving at the right property can be quite a task. You have to keep in mind the investment potential of the area, budget, conveniences, safety and the ...
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PE investments in India grow by 15% in Q1 2015

Posted on Jun 10, 2015
Private equity investments in the country grew 15 per cent to total $2.8 billion across 130 deals in the first quarter of calendar year 2015.Compared with the same period in 2014 the value surged by 15 per cent despite a 10-per cent drop in volume (144 deals worth $2.42 billion).However, it is a 37-per cent drop in value when compared with the prev ...
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Demand for office space up in south

Posted on Apr 20, 2015
BangaloreBengaluru south has been one of the major real estate hubs of the city, witnessing hectic development across all fronts residential, commercial and retail. Strong infrastructure and presence of preferred residential localities contributed to the development of this zone.Commercial development across Bengaluru south picked up pace with the ...
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After Maharashtra, Kerala to have real estate regulator

Posted on Apr 14, 2015
The Kerala Government on Wednesday recommended to the governor the Real Eastate (Regulatory and Development) Ordinance, which would pave way for the formation of a regulatory authority in the real estate sector.After Maharashtra, Kerala is going to be the second state to set up a real estate regulatory authority. Apart from the regulatory authority ...
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Maximum homebuyers in Chennai are in their 30s

Posted on Mar 21, 2015
Working IT/ITES professionals in Chennai, create a demand for properties in the residential market.The Housing Sentiment Index (HSI) report by Magicbricks, in association with IIM Bangalore, for the Oct-Dec 2014 quarter, shows maximum property seekers in the city are within the age bracket of 30-39 years. The HSI helps renowned and local developers ...
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Promising Real-estate Destinations for Property Investment

Posted on Mar 12, 2015
Bangalore: In realty market, for every property investor, there are some bets such as where to invest? Which housing market offers better prediction? The Indian realty market is one of the fastest growing markets, which is noticing a several changes by following the new government elections and upturn in demand.Emerging Trends in Real estate Asia p ...
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Chennai realty sector gearing to catch up

Posted on Feb 19, 2015
Chennai is gearing to catch up with the lost momentum in investments when compared to its cousins in South.  The real estate market is predominantly driven by end users constituting 75-85 per cent and their typical investment ticket size has been estimated at Rs 40-60 lakh.  However, the pent-up demand is slowly entering the market now.In ...
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1BHKs have a special space in Pune real estate

Posted on Feb 19, 2015
As far as preference for property buying is concerned in Pune, 1BHKs have made their special space in the realty market. As per the latest edition of PropIndex (Oct-Dec) quarter, 1 BHK units saw a consistent rise in demand from the last three quarters. The demand was registered from 28 to 34 per cent while supply remained stable at 17 per cent. Dem ...
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At Rs 40 cr & more, Worli attracts the rich, famous

Posted on Feb 06, 2015
Abhishek Bachchan and Nandan Nilekani have just made grand property purchases of Rs 41 crore and Rs 22 crore, respectively and joined the league of many other bigwigs whose investments run into hundreds of crores! Worli boasts some of these properties that have an aura of their own. What makes the area so special?Worli is known for its commercial o ...
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