Realty News Check: Bengaluru staring at a shortfal...

Realty News Check: Bengaluru staring at a shortfall in office space


ASK group exits ATS Infrastructure’s Gurgaon project with 25% IRR in 3 years

Real estate private equity fund ASK Property Investment Advisors has exited a residential project of Noida-based builder ATS Infrastructures in Gurgaon at an IRR of 25%.

The investment of Rs 147 crore was made from the ASK Real Estate Special Opportunities Fund in ATS Tangerine in sector 99A of Gurgaon on the Dwarka Expressway in July 2013. Now, the fund has got an exit of Rs 270 crore, which is a multiple of 1.82.

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Hyderabad slips down to 6th tank in green building projects

By going ahead with various developmental activities at the cost of environment, the city has plummeted several ranks as far as executing green buildings projects over the last three to four years are concerned. Going by the figures revealed by the Indian Green Buildings Council (IGBC), Hyderabad has slipped from being third in 2014 to the sixth rank for green `built-up space’ among cities in 2016.

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Residents move SC for road access

Residents of Sector 45 have appealed in the Supreme Court after the high court refused to give a stay on the construction of a school which was taking up part of a road. The portion of the road was allegedly sold off by a real estate developer to a school.

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Bengaluru staring at a shortfall in office space

Bengaluru, which has a total stock of 96 mn sq ft of grade-A (non-captive) office space, is currently staring at a shortfall in its supply. Barely four to five per cent of the total space is vacant for leasing as the tech city has witnessed strong leasing activity in the last few years.

Even the existing vacancy is mostly in peripheral areas. Demand in 2016 is pegged at around 10 mn sq ft, but the supply will hover at around 8-8.5 mn sq ft, says a Jones Lang LaSalle study.

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