Land Leasing

Retail leasing in Bengaluru grows by 39% in H1 2024 to 1 mn sqft: CBRE

Retail leasing in India surged to a five-year high in the first half of 2024, reaching 3.1 million square feet across eight cities

Birla Estates buys land in Pune, to build Rs 2,500 cr housing project

Realty firm Birla Estates Pvt Ltd on Monday said it has acquired a 16.5-acre land parcel in Pune to a develop a housing project with an estimated revenue potential of Rs 2,500 crore. Birla Estates is a 100 per cent wholly-owned subsidiary of Century Textiles and Industries Ltd and the real estate venture of the Aditya Birla Group. The company said it is expanding its presence in Pune with a land acquisition in Manjri, Pune. "The land parcel is spread across 16.5 acres with a development potential of approx. 32 lakh sq ft and an estimated revenue potential of Rs 2,500 crore," a regulatory filing said. K T Jithendran, MD & CEO at Birla Estates said, "Pune is a strategic market for us and this acquisition is a step towards our ambitious growth plans." The Pune Sholapur corridor is transforming at a rapid pace, he said. "We intend to enhance living standards in Manjri by delivering meticulously designed homes that seamlessly integrate contemporary architecture with thoughtfully chose

ESR buys 27-acre land in industrial, logistic park in Chennai for Rs 276 cr

ESR Group has acquired an additional 27 acres of land to expand its existing industrial and logistics park at Oragadam in Chennai. The enlarged area of ESR Oragadam Industrial and Logistics Park now spans 107 acres with a development potential of 2.5 million square feet. "The additional Rs 276 crore (over USD 33 million) investment signifies ESR's dedication to bolstering Tamil Nadu's industrial landscape," the company said in a statement on Monday. ESR Oragadam Industrial & Logistics Park is strategically located in the heart of the Oragadam-Sriperumbudur cluster, which has witnessed robust growth in demand for Grade A assets. This latest expansion builds upon the success of ESR Oragadam's first two phases, which have welcomed many high-quality customers, such as electromechanical solutions provider CUBIC, automotive research and development firm A2Mac1, and speciality labelling company CCL. ESR India CEO Abhijit Malkani said, "ESR's expansion in Oragadam is a pivotal step in our

Greater Noida board hikes land allocation rates by 5.30% for FY25

The board of the Greater Noida Industrial Development Authority (GNIDA) on Saturday approved a proposal to increase land allocation rates by 5.30 per cent for 2024-25 fiscal, according to an official statement. Several developmental projects, including the Greater Noida West Metro, Multimodal Logistics Hub, and Transport Hub, are coming to Greater Noida and Greater Noida West (also known as Noida Extension), the GNIDA said. "In view of these developmental projects, property allocation rates are determined for each financial year. The board has approved the proposal to increase the current allocation rates for industrial, residential, commercial, institutional, and builder properties by 5.30 per cent for the fiscal year 2024-25," it said. "The finance department will soon issue an office order in this regard. The new rates will be considered effective from April 1," the GNIDA said, describing the 5.30 per cent rate hike as "modest". The board, in a meeting chaired by UP's ...

Improving leasing trends to support and lay bricks of value for Reits

Grand Design: New SEZ rules and rising GCC leasing set to elevate occupancies and rentals, benefiting Reits and office-focused developers

Space leasing for light manufacturing activities rises 23% in 2023: C&W

Leasing of industrial space for light manufacturing activities rose 23 per cent last year to 15.9 million square feet across eight major cities due to favourable government policies, according to Cushman & Wakefield. The leasing of industrial space stood at 12.91 million square feet in the calendar year 2022. Real estate consultant Cushman & Wakefield (C&W) on Thursday released its annual Logistics and Industrial report (L&I) report, which showed that Pune and Chennai accounted for 53 per cent and 24 per cent of the total leasing of industrial space in 2023 across eight major cities. "The growth in industrial leasing indicates that manufacturing is on an uptrend on the back of healthy capacity utilization, implementation of business plans by domestic firms and incentivization of investments by multinationals through favourable government policies such as the multi-sector PLI scheme," the consultant said. Industrial sheds available for lease primarily cater to light ...

Uttarakhand mosque, madrasa demolition: Understanding Nazul & Waqf lands

Nazul land belongs to the state, Waqf land constitutes properties permanently dedicated for religious purposes under Muslim law

Outsiders can't buy land in U'khand till panel on land laws submits report

District Magistrates in Uttarakhand have been asked not to clear any proposal from outsiders to buy land in the state for the purpose of agriculture or horticulture till the submission of the report of the committee on land laws of the state. An order to this effect was issued to all DMs on Sunday on the instructions of Chief Minister Pushkar Singh Dhami. It has been decided in public interest that till the submission of the report of the Land Law Committee or till further orders, the District Magistrates will not have the final say in granting permission to proposals from persons outside Uttarakhand to purchase land for the purpose of agriculture and horticulture in the state, an official release here said. Dhami held a high-level meeting on Sunday to discuss the issue and directed officials that a detailed public hearing should be conducted by the committee to review land laws of the state in which people and experts from various fields should be heard. According to an amendment

Industrial & Logistics sector leasing to touch 5-year high in 2023: CBRE

In the July-September quarter, Chennai recorded the highest absorption of 2.1 msf followed by Bangalore and Mumbai

Land leasing needs a sound law

The concept of imposing limits on land ownership and acquiring surplus land for allocation to landless people, in fact, seldom served its intended objective of equitable distribution of farmland

Leasing data shows BFSI sector has bounced back from pandemic lull

The rise in leasing by BFSI companies has been attributed to the return to office and improved domestic financial sector outlook

Retail leasing in India jumped 24% between January and July: CBRE report

CBRE said that as more international brands aim to enter India, they are witnessing growing traction in the luxury segment

Leasing of industrial space up 7% in Jan-Jun across tier I, II, III cities

Leasing of industrial and warehousing space rose 7 per cent during January-June to 22.4 million square feet across tier I-III cities mainly on better demand from third party logistics players and manufacturing units, according to property consultant Savills India. The absorption of industrial and warehousing space stood at 20.9 million square feet in the same period last year. Tier I cities accounted for 75 per cent of the total absorption in the first half of 2023, while tier II and III contributed the remaining 25 per cent, the consultant highlighted. Tier I includes cities like Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune. Tier II and Tier III cities include Guwahati, Bhubaneshwar, Patna, Hosur, Coimbatore, Rajpura, Lucknow, Jaipur, Nagpur, Indore and Surat. As per the data, the leasing in Tier I cities rose 4 per cent to 17.4 million square feet during January-June from 16.8 million square feet in the year-ago period. In tier II and III cities

US Prez Biden plan to sell land leases for conservation gets pushback

Biden administration officials on Monday sought to dispel worries they want to exclude oil drilling, livestock grazing and other activities from vast government-owned lands, as they faced pushback from Republicans and ranchers and over a contentious proposal to put conservation on equal footing with industry. The proposal would allow conservationists and others to lease federally owned land to restore it, much the same way oil companies buy leases to drill and ranchers pay to graze cattle. Leases also could be bought on behalf of companies such as oil drillers who want to offset damage to public land by restoring acreage elsewhere. But more than a century after the US started selling grazing permits and oil and gas leases, the proposal is stirring debate over the best use of public land, primarily in the West. Opponents including Republican lawmakers and agriculture industry representatives are blasting it as a backdoor way to exclude mining, energy development and agriculture. Trac

Govt plans panel to help resolve state-owned firms' land disputes

Land is a state subject in India, with both the Parliament and state assemblies able to write laws around certain land rights

Retail leasing may rise 17-28% this year to 5-6 mn sq ft in top 8 cities

Leasing of retail space in malls and prominent high-street locations across eight major cities is expected to rise 17-28 per cent to 55-60 lakh square feet, driven by demand from retailers in fashion & apparel, homeware, and departmental stores categories, according to CBRE India. Real estate consultant CBRE South Asia Pvt Ltd on Wednesday released its report, '2023 India Market Outlook' that highlights key trends and projections for realty sector. "Retail leasing is expected to touch 5.56 million (55-60 lakh) square feet in 2023, the highest level after the 2019 peak of 6.8 million (68 lakh) square feet. It is expected that primary leasing in newly completed malls will remain the key driver of retail space demand in 2023," the consultant said. Figures denote leasing of space in investment-grade malls, prominent high streets and standalone developments. The eight cities tracked are Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune. After the 2019-peak, .

Land lease continuity for Rail landholders, more clarity for Concor sale

Latest Railways circular also offers details on various terms of the new 'land lease policy' approved by Cabinet last month; existing landholders can extend their lease for up to another 35 years

Land deals worth $1.1 bn closed in Jan-Jun across top 8 cities: CII-CBRE

About 700 acres of land have been acquired for over USD 1.1 billion during January-June across eight cities to develop housing, office, retail, logistics and data centre projects, according to a CII-CBRE report. Industry body CII and property consultant CBRE India on Wednesday released the report Indian Realty Outlook - Demystifying Future growth opportunities at a real estate conference here. "We are quite optimistic about the real estate sector. But we need to be cautious considering global factors," said Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE. He said all segments of real estate in the 2022 calendar year will perform better than last year, because of higher demand for apartments as well as commercial, data centre and warehousing spaces. However, Magazine said there is a need for caution in view of rising interest rates, higher commodity prices and possible recession in US and European economies. He also pointed out that land ...

Railways eyes Rs 30,000-crore revenue with new land licensing fee policy

Sources also indicated that the current policy was causing a lot of leasable Railways land to go idle, notwithstanding the potential for terminal operations

CCEA revises Railway's industrial land lease policy; lowers fee to 1.5%

Move likely to pave way for Concor's strategic sale