News – Page 68 – Property World Global

Mar72024 by FWMNo Comments

Leasing to cross 50 msf in 2024 yet again, a ‘new normal’ for India office

India office holds upside potential to scale up to 60 msf in 2024 Domestic enterprises to account for over half of the office demand during 2024 GCCs to gain further ground accounting for over 40% of the total demand BFSI and Engg & Mftg. to drive demand for Grade A office spaces Flex spaces are likely to drive about 15-20% of the overall leasing in 2024 Large-sized deals of 100,000 sq ft or more, projected to account for 50-55% of 2024 leasing activity About 30-35% of Grade A office demand is likely to come from PBDs in 2024 Gurgaon, India, 05 March 2024: With consecutive all-time leasing highs in 2022 and 2023, India's office sector has proven its resilience, and showcased consistent growth amidst global challenges. India's office market is set to consolidate ...

Mar72024 by FWMNo Comments

Stans Buildtech Group secures INR 160 crores from SWAMIH Fund to revive stalled SRA project, Sky Annex, in Mumbai

Business & Finance, News

Mumbai, India, 07 March 2024: Leading real estate consulting firm, Colliers India, recently assisted Stans Buildtech Homes Pvt. Ltd. in securing financing of Rs. 160 crores from SWAMIH Fund, managed by SBICAP Ventures Limited, for its SRA project. Sky Annex, located in Chembur, Mumbai, was taken over by Stans Buildtech in 2016 and has been under development since. A legacy of issues involving tenants, flat buyers, approvals, and lack of suitable financing to meet requirements led to the project being stalled, and is now set to resume, following the deal. “This deal exemplifies SWAMIH Fund's commitment to understanding and resolving complex real estate situations. By providing solution capital, we are not only unlocking value for various stakeholders but also fulfilling our objective of ...

Mar72024 by FWMNo Comments

Ajmera Realty inks INR 500 Cr of structured deal for Ajmera Manhattan, partly prepays GCP loan

Business & Finance, News

March 6th, 2024, Mumbai: Ajmera Realty & Infra India Ltd has successfully secured credit facilities totaling INR 500 Crores from two leading financial institutions: Standard Chartered Bank and ICICI Bank. These funds will be utilized for the execution of Ajmera Manhattan, a luxurious residential project situated in Wadala, Mumbai. Additionally, a portion of the funds amounting to INR 200 crores has been utilized towards the partial prepayment of the GCP loan availed from HDFC Bank. The Ajmera Manhattan project has experienced robust booking activity, with over 60% of inventory already sold as of December 2023 and is also endeavored to be certified as a green building. The demand for the project remains strong, driven by the exponential growth in housing demand along the Sewri-Wadala...

Mar72024 by FWMNo Comments

Apartment Complex With Only Residential Flats To Be Registered Under Apartment Ownership Act Not Cooperative Societies Act: Karnataka HC

News

Bangalore; The Karnataka High Court has held that to manage and maintain an apartment complex consisting of only residential flats, the association of owners has to be registered under the Karnataka Apartment Ownership Act, 1972, and not under the provision of Karnataka Co-operative Societies Act, 1959. A single judge bench of Justice Anant Ramanath Hegde said “Admittedly, the project referred to above is a residential housing project. There is no commercial unit in the said project. A writ petition filed by some residential owners in the DS Max Starnest residential complex. It directed the Registrar of Co-operative Societies not to register a co-operative society to manage the housing complex. It also revoked the permission to raise share capital by members. The court directed bu...

Mar62024 by FWMNo Comments

Mahindra Group and Johnson Controls Launch Net Zero Buildings Initiative to Decarbonize Buildings in India

Home Improvement, Lifestyle, News

New Delhi, India: Wednesday, March 6, 2024 9:31PM IST (4:01PM GMT Strategic climate advocacy initiative will provide organizations, building owners and facility managers with information and resources to create sustainable spaces. Initiative to accelerate deployment of smart and sustainable buildings and support India’s Net Zero goals. Being launched with a toolkit document and will continue to be rolled out over the course of a year from March 2024 using virtual and in-person workshops. As India ramps up efforts to decarbonize its rapidly growing infrastructure of buildings, the Mahindra Group, one of India’s leading industrial enterprises, and Johnson Controls (NYSE: JCI), the global leader in smart, healthy and sustainable buildings, today announced a first of its kind Net...

Mar62024 by FWMNo Comments

Farmers from all over the state are expected to converge at the Mela, which will take place at the GKVK premises on March 9 2023 • Kusum B Scheme – Karnataka Government Prioritizes Solar Pumpset Utilization

News

Raita Soura Shakti Mela' Set to Empower Karnataka Farmers with Solar Energy Solutions Farmers from all over the state are expected to converge at the Mela, which will take place at the GKVK premises on March 9 2023 • Kusum B Scheme - Karnataka Government Prioritizes Solar Pumpset Utilization Bengaluru, March 6, 2024—The Department of Energy, Government of Karnataka, is organizing the 'Raita Soura Shakti Mela' on March 9, 2024, at the esteemed premises of GKVK in Bengaluru. This groundbreaking event aims to diminish the reliability of conventional electricity for irrigation and promote self-sufficiency among farmers through the adoption of solar energy solutions. Key Highlights of the Mela • Distinguished by its informative sessions and interactive exhibits, the 'Raita Soura Sha...

Feb272024 by FWMNo Comments

Smart Lift and Mobility World Expo of Latest technological innovations in Real Estate from March 1 to 3 at BIEC.

Home Improvement, News

Bangalore, February 27: A three-day expo of advanced technological innovations in the field of real estate "smart lift and mobility" will commence from March 1 at Bangalore International Exhibition Centre. The expo will be unique and unprecedented in the sense that the latest and advanced technological innovations never showcased in the past will be on display in this International expo. More than 130 exhibitors, 60 and above experts and more than 3000 delegates will participate in this largest-ever expo.Among other sophisticated equipments that will be on display are elevators, mobility solutions, reformed and access-controlled entry and exit points, all related to real estate field will be part of this three-day expo.Prestigious awards are being given in this SLW world 2024 Internatio...

Feb252024 by FWMNo Comments

BBMP engineers get trained on making Bengaluru a walkable city

News

Bengaluru, 24 February, 2024 Bengaluru’s first-ever technical training aimed at making Bengaluru’s streets walkable and safe, was held for 34 engineers from Bruhat Bengaluru Mahanagara Palike (BBMP) was held recently in Bengaluru. The training was an extension of the Namma Raste programme in which BBMP is receiving technical support from WRI India under the Bloomberg Philanthropies Initiative for Global Road Safety (BIGRS). The programme aims to facilitate discussions towards making Bengaluru’s streets and public spaces safer, inclusive, accessible and resilient. The workshop was delivered by global experts from WRI India. The training began with focusing on four core systems of road project work and challenges faced by engineers in BBMP. WRI India shared global best practices tha...

Feb252024 by FWMNo Comments

A.S.S.E.T Society Inaugurated Elevate 2K24 Job Fair: Paving Pathways to Professional Excellence

Business & Finance, News

Bangalore – ASSET Society, a beacon of education and empowerment, proudly announces the launch of Elevate 2K24, a groundbreaking Job Fair aimed at connecting talent with unparalleled opportunities. In collaboration with Presidency College, this event brings together aspirants, esteemed companies' HR representatives, and visionary entrepreneurs in a collective pursuit of professional growth. Elevate 2K24 is not just a job fair; it is a transformative platform where dreams meet opportunities, skillsets find purpose, and collaborations shape the future. With the support of Presidency College and the active participation of HR professionals from leading companies, ASSET Society envisions this event to be a catalyst for shaping the destinies of 10,000 individuals and fostering the entreprene...

Feb252024 by FWMNo Comments

Gem Opencube Technologies Unveils World’s First WTC Machine in Karnataka

News

Planning to place WTC machines all parts of Karnataka by next year Bangalore: Gem Opencube Technologies, a pioneer in innovative vending solutions, launched the world's first WTC Machine also called as Digital Chai ATM in the state of Karnataka. The inauguration ceremony held at The Capitol Hotel, Raj Bhavan Road, Bangalore on 23rd February, 2024. The WTC Machine was launched by Dr. Sharan Prakash Patil, Honorable Minister of Medical Education and Skill Development, Government of Karnataka, Mr. Sharath Bache Gowda, Member of Legislative Assembly alongside Mr. P. Vinod Kumar, CEO and Founder of Gem Opencube Technologies and Mr. E. Venkatesh Yadav, MD of Gem Opencube Technologies also were present at the laucnhing ceremony. Gem Opencube Technologies has garnered acclaim for its grou...