Delhi, Mumbai Among world’s Costliest office Locations: CBRE

London’s West End, Mumbai, the City of London and Moscow are top four most expensive office markets in the world says CBRE’s latest report. Mumbai’s Nariman Point at $189.51 (occupation cost in US$/sq ft/annum) rose three places to second spot.

DDA can’t impose surcharge once flat cost is fixed: SC

The Supreme Court has ruled that once a flat’s cost has been fixed, the Delhi Development Agency (DDA) has no right to impose a surcharge on allotees by issuing a circular or executive order. The apex court set aside the orders of a Full Bench of the Delhi High Court which had ruled in favour of the DDA. In this case, the DDA had imposed a 20% surcharge on the allotees of self-financing flats in South Delhi launched by the agency in 1992.
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DLF, Hines to Compete for Hotel Sites at New Delhi Railway Station

The site is worth about $2.5 billion (Rs 9,900 crore), according to data compiled by Cushman & Wakefield Inc. Indian Railways appointed British architect Terry Farrell to redesign the rail hub.

CP 10th Most Expensive in World

Delhi has broken into the list of top-10 cities with most expensive office space, with rentals in Connaught Place area, estimated at Rs 423 per sq ft a month. Despite talk of moderation in the real estate arena, rentals in the area have increased 46% during the year.

While Delhi is way ahead of many global metros, Mumbai beat the capital hands down. The financial capital saw rentals in its CBD, Nariman Point, zoom 60% to Rs 546 per sq ft per month. The steep rise made Nariman Point the fifth most expensive office location in the world, compared to the seventh slot in the previous rankings, while Connaught Place was placed tenth, as against 12th position last time, according to the latest survey released by global consultancy firm Cushman & Wakefield.

Delhi will soon Get its Share of SEZs

The Delhi Government has decided that no land will be taken from farmers, fearing the protests in Nandigram and Goa. The SEZs would be located in Narela, Dwarka, Baprola, Nazafgarh, Bakarwala, Ghoga and other areas on uncultivated land. It would have to be a contiguous land of at least 10 acres.

Delhi Govt to pay more for land, end users to suffer

The Delhi Govt has decided to increase compensation for land acquisition by three times. Experts say that this will make flats in future projects costlier. A panel ministers decided that the new rate for land acquisition would be Rs 75 lakh per acre as the earlier rate of Rs 25 lakh was too low against the market rate.

DDA plans to create sports infrastructure

The Delhi Development Authority (DDA) will create a huge network of sports facilities in Delhi and also identify and implement training schemes for promoting sports talent in the city.

The DDA has a battery of sports complexes in the South Zone — Siri Fort Sports Complex, Saket Sports Complex, Netaji Subhas Sports Complex, Jasola, Vasant Kunj Sports Complex and the Baba Gang Nath Sports Complex, Munirka.

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