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Dear ck.kislay,
You are subscribed to the thread "Delhi Real Estate Updates" by MANOJa, there have been 4 post(s) to this thread, the last poster was MANOJa.
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
Posted by: MANOJa
On: March 14 2018 08:24 AM
[h=1]NDMC to widen eligibility criteria of Taj Mahal hotel auction to attract more bidders[/h] The changes may allow entities such as Goldman Sachs-backed SAMHI Hotels and individual hotel owners to participate. NDMC officials said they will recall the old tender and issue a fresh one for the auction[URL="https://realty.economictimes.indiatimes.com/author/479226491/anumeha-chaturvedi"]Anumeha Chaturvedi[/URL] | ET Bureau | March 14, 2018, 07:51 IST NEW DELHI: The [URL="https://realty.economictimes.indiatimes.com/tag/new+delhi+municipal+council"]New Delhi Municipal Council[/URL] ([URL="https://realty.economictimes.indiatimes.com/tag/ndmc"]NDMC[/URL]) is expanding the eligibility criteria for bidders in the auction of the Taj Mahal Hotel to include owners and investors after the previous attempt to lease out the property failed. The auction was initially restricted to companies that owned and operated hotel brands. The changes may allow entities such as Goldman Sachs-backed [URL="https://realty.economictimes.indiatimes.com/tag/samhi+hotels"]SAMHI Hotels[/URL] and individual hotel owners to participate. NDMC officials said they will recall the old tender and issue a fresh one for the auction. �The tender has lapsed. A new tender will be issued after the approval of the council. Brand owners as well as property owners and investors will be allowed under the new eligibility criteria,� said an official familiar with the developments. No new dates have been announced yet for the auction. Originally scheduled for January 30, the auction for the hotel located near India Gate at 1, Mansingh Road in the capital, was first postponed to February 7, then to February 21 and again to March 7. While potential investors welcomed the changes, they were cautious about other terms. �We welcome the move to include hotel owners and investors. However, the deal terms proposed last time had a high degree of risk for financial returns. We will evaluate the changes to the terms, which may give some comfort to incoming investors,� said Ashish Jakhanwala, CEO of SAMHI Hotels, which owns properties operated by Hyatt, Marriott and other international brands. �The move, if implemented, broadens the investor base but the economics will not add up for investors if some of the other deal terms are not changed. If they make it a longer lease, from 33 to 60 years, the values could go up. The investors who expect high returns on a leased asset may not want to pay high money if they feel they will not be able to recover it,� said a hotel owner. The original tender offered a 33-year lease with a minimum 17.25% revenue share. Bidders were required to own and operate not less than 500 rooms in a maximum of five hotels or resorts under their own brands with a minimum 5-star rating. Each hotel or resort should have had at least 100 rooms operational for five years preceding the submission of the technical bid or an average turnover of Rs 400 crore and above in the past three financial years from hotel or resort operations and a net worth of at least Rs 300 crore. The Tata Group�s [URL="https://realty.economictimes.indiatimes.com/tag/indian+hotels+company"]Indian Hotels Company[/URL] has operated the hotel since 1978 on a 33-year lease. The company continues to run the hotel after a series of temporary extensions. The Supreme Court last year allowed NDMC to auction the property. [url]https://realty.economictimes.indiatimes.com/news/regulatory/ndmc-to-widen-eligibility-criteria-of-taj-mahal-hotel-auction-to-attract-more-bidders/63293702[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
Posted by: MANOJa
On: March 14 2018 12:51 PM
[h=1]Delhi Metro Pink Link opens today: Here are 10 things to know about this corridor[/h] [h=2]A portion of Delhi Metro�s Pink Line, connecting Majlis Park-Durgabai Deshmukh South Campus, is all set to become operational on Wednesday. The 21.56-km Majlis Park-Durgabhai Deshmukh South Campus section, covering 12 stations, will be flagged off by Union Minister of State Hardeep Singh Puri and Chief Minister Arvind Kejriwal at 4 pm today from Metro Bhawan. Passenger services[/h] By: [URL="http://indianexpress.com/agency/express-web-desk/"]Express Web Desk[/URL] | New Delhi | Published: March 14, 2018 12:32 pm A portion of Delhi Metro�s Pink Line, connecting Majlis Park-Durgabai Deshmukh South Campus, is all set to become operational on Wednesday. The 21.56-km Majlis Park-Durgabhai Deshmukh South Campus section, covering 12 stations, will be flagged off by Union Minister of State Hardeep Singh Puri and Chief Minister [URL="http://indianexpress.com/about/arvind-kejriwal"]Arvind Kejriwal[/URL] at 4 pm today from Metro Bhawan. Passenger services will begin from 6 pm. [B]Here are 10 things you need to know about Delhi Metro�s Pink Line: [/B] # The Pink Line is a 59-km line connecting Majlis Park to Shiv Vihar under Delhi Metro�s Phase III project. # This is the longest metro line till date and is expected to be fully operational by June. # The section being flagged off today will have 12 stations � Majlis Park, Azadpur, Shalimar Bagh, Netaji Subhash Place, Shakurpur, Punjabi Bagh West, ESI Hospital, Rajouri Garden, Mayapuri, Naraina Vihar, Delhi Cantt and Durgabai Deshmukh South Campus. # Out of the 12 stations, eight are elevated and the rest underground. # Interchange stations at Azadpur, Netaji Subhash Place and Rajouri Garden will connect the Yellow, Red, and Blue lines, respectively, to the Pink Line. The line will also bring Delhi University�s South Campus under the Metro system. [IMG]http://images.indianexpress.com/2018/03/metro-graph.jpg[/IMG] # The new corridor will also, for the first time, connect the north and south campuses of the Delhi University, on the metro network, which can be covered in 40 minutes. # The average speed of the train on the line is 34 kmph and the line will have only six-coach trains, with a frequency of 90-100 seconds, Delhi Metro Rail Corporation (DMRC) officials said. # According to Metro officials, a total of 19 trains will be in service on the line. Trains will also run on two shorter routes � between Durgabai Deshmukh South Campus and Shakurpur, and Majlis Park and Shakurpur stations. # The trains will be driverless, with multi-coloured seats (orange, blue, pink and red), darker shades for reserved seats, a special demarcated area for persons on wheelchairs, USB and three-pin recharge ports and three-handle poles for those who commute standing. # The 21.56 km-long corridor, once opened, will also reduce metro travel time between Dwarka 21 (Blue Line) and Rithala (Red Line) by over 16 minutes; and Rajouri Garden and Azadpur by nearly 23 minutes, DMRC said. [url]http://indianexpress.com/article/cities/delhi/delhi-metro-pink-link-begins-dmcr-north-campsu-delhi-university-south-campus-majlis-park-10-things-you-need-to-know-5097297/[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
Posted by: MANOJa
On: March 14 2018 02:48 PM
[h=1]Connaught Place, 3rd most expensive office district among top 20 APAC markets: Report[/h] Mumbai�s Bandra Kurla Complex is the 5th most costly office conclave in terms of the gross effective rents it commands, jumps two places from Q4 2016[URL="https://realty.economictimes.indiatimes.com/author/479214943/kailash-babar"]Kailash Babar[/URL] | ET Bureau | March 14, 2018, 14:25 IST MUMBAI: Business districts across New Delhi, Mumbai and Bangalore have dwarfed many matured international markets in rental growth and in terms of overall gross effective rents, showed the [URL="https://realty.economictimes.indiatimes.com/tag/knight+frank"]Knight Frank[/URL] Asia-Pacific Prime Office Rental Index Q4 2017. Commanding gross effective rentals of $88.8 per sq. meter per month, [URL="https://realty.economictimes.indiatimes.com/tag/connaught+place"]Connaught Place[/URL] in Delhi has emerged as the 3rd most expensive office district among global peers across 20 international cities. The index was topped by Central, the prime office pocket in Hong Kong with rentals of $212 per sq. meter per month. Mumbai�s [URL="https://realty.economictimes.indiatimes.com/tag/bandra-kurla+complex"]Bandra-Kurla Complex[/URL] ([URL="https://realty.economictimes.indiatimes.com/tag/bkc"]BKC[/URL]), the 5th most costly office conclave on the list with gross effective rentals of $80.1 sq. meter per month, improved its position by two placed over Q4 2016. In terms of rental appreciation, Bangalore�s Central Business District (CBD) recorded the 3rd highest growth with annual increase of 5.4% in the 12 months to Q4 2017. While Connaught Place with 5% growth ranked 5th by this measure, BKC with 4% appreciation stood at the 10th position. �Rental growth continues to be strong across prime office markets in India on account of an ongoing supply crunch in the country. This, coupled with strong occupier demand is expected to drive the rentals up in the next 12 months in the prime office markets of Mumbai and Bengaluru; however, we expect rental growth to remain stable in Connaught Place,� said Samantak Das, Chief Economist and National Director-Research, Knight Frank India. Overall the index recorded 1.1% on-year growth in the last quarter of 2017 propelled by solid economic performances across the Asia Pacific region. This was primarily driven by rising rents in 12 of the markets over the quarter. Further rentals across at least 16 out of the 20 markets tracked are either set to appreciate or stay stable, the report added. Demand for co-working and technology-related spaces are expected a play a major part in pushing rents up. [url]https://realty.economictimes.indiatimes.com/news/commercial/connaught-place-3rd-most-expensive-office-district-among-top-20-apac-markets-report/63298957[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/29842-delhi-real-estate-updates
Posted by: MANOJa
On: March 15 2018 12:11 AM
[h=1]Delhi Metro's phase-IV project to be cleared soon: CM Arvind Kejriwal[/h] PTI | Updated: Mar 14, 2018, 18:56 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63302873,width-400,resizemode-4/63302873.jpg[/IMG]The Delhi government will soon give clearance for the Phase-IV project. (Photo: AAP's twitter handle) NEW DELHI: [URL="https://timesofindia.indiatimes.com/topic/Chief-Minister-Arvind-Kejriwal"]Chief Minister Arvind Kejriwal[/URL] on Wednesday said his government would soon clear the [URL="https://timesofindia.indiatimes.com/topic/Delhi-Metro's-long-pending-Phase-IV-project"]Delhi Metro's long-pending Phase-IV project[/URL], while indicating that there were "issues of financial viability" on some of its routes. Kejriwal said this in the presence of Union Minister for Housing and Urban Affairs (Independent Charge) Hardeep Singh Puri, along with whom, he ceremonially flagged off the Majlis [URL="https://timesofindia.indiatimes.com/topic/Park-Durgabai-Deshmukh-South-Campus"]Park-Durgabai Deshmukh South Campus[/URL]section of the much-awaited Pink Line, from the Metro Bhawan here. [IMG]https://timesofindia.indiatimes.com/img/63302912/Master.jpg[/IMG] "Metro is the lifeline of Delhi, and it is an important mode of transport for the city. The Delhi government will soon give clearance for the Phase-IV project. There are issues of financial viability on some of the routes," the chief minister said. On the last fare hike, Kejriwal said the Delhi government and the Centre should "sit together and find out a solution". The newly-opened section, which has 12 stations, is part of the 59 km-long Majlis Park-Shiv Vihar corridor (Pink Line Line 7) of Delhi Metro's Phase-III. A small segment of the Pink Line in the Trilokpuri area in east Delhi is also awaiting clearance due to some land issues and other related matters associated with the local people. On the Delhi Metro's Phase IV project and rapid rail system connecting the national capital with Meerut, Puri had recently said that the AAP-led city government was "sitting on the project". "We are finding a solution. The solution is where we are not getting support from the Delhi government over the metro projects, we have decided that we we will do it ourselves. Rail corridors, we will do on our own. "If they (Delhi government) are not willing to approve a project or provide funding, we are finding out a solution for it," the urban affairs minister had said. Last year, Puri had reportedly said the delay had pushed the cost of Metro's Phase-IV by Rs 12,000 crore, adding that, the cost of the Delhi-Meerut Rapid Rail Transit project had also gone up by Rs 1,000 crore. Incidentally, an official at the chief minister's office had then said that the Delhi government had given in-principle approval to the Phase-IV metro project, but the files were pending with bureaucrats in the Delhi government's finance department. The end-to-end travel time of Majlis Park-Durgabai Deshmukh South Campus stretch is 34 minutes and will cost Rs 40. [h=2]With the opening of the 21.56 km-long section, the Delhi Metro's operational network will expand to 252 km, a senior DMRC official said.[/h] The stations falling on the operational stretch are -- Majlis Park, Azadpur, Shalimar Bagh, [URL="https://timesofindia.indiatimes.com/topic/Netaji-Subhash-Place"]Netaji Subhash Place[/URL], Shakurpur, Punjabi Bagh West, ESI Hospital, Rajouri Garden, Mayapuri, Naraina Vihar, Delhi Cantt and Durgabai Deshmukh South Campus. Azadpur Station (with Yellow Line) is one of the three interchange stations on the Pink Line stretch that opened on Wednesday, the other two being, Netaji Subhash Place (with Red Line) and Rajouri Garden (Blue Line). [url]https://timesofindia.indiatimes.com/city/delhi/delhi-govt-will-soon-clear-metros-phase-iv-project-says-cm-arvind-kejriwal/articleshow/63302622.cms[/url]
With warm regards,
Team IREF
With warm regards,
Team IREF
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