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#RealtyNewsRoundup: Defence Ministry Eases Construction Norms Near Its Depots

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Realty News Roundup is PropGuide’s selection of the day’s top stories from the real estate sector.

The defence ministry has relaxed a construction ban around defence lands, bringing a huge relief to around 3,000 families living in dilapidated buildings around the army’s Central ordnance depots at Kandivli and Malad in Mumbai. The order will benefit as many as 43 ongoing redevelopment projects in this area and another 2,400 buildings that were affected because of the defence objections.

Infosys Technologies has leased over nine lakh sq ft office space across major cities to expand its business. In a recent transaction, Infosys Technologies has got over 2,10,000 sq ft office space on lease at Bhartiya City in Bengaluru where the annual rent is over Rs 9 crore.

US-based hospitality chain JW Marriott has opened its first luxury hotel in Kolkata. The 281-room property is housed in a 28-storied tower alongside serviced-residences named Vivara. By the end of this year, Marriott, jointly with Starwood, would manage 85 properties across the country with several brands.

MPS Group has announced multiple projects in the residential and commercial segment in Kerala. The biggest among its ventures is a convention centre at Thiruvananthapuram which would have a built-up area of 2.5 lakh square feet.

 Source: Media reports

Tags: Video, Bengaluru, propguide, Thiruvananthapuram, defence ministry, JW Marriott, Infosys Technologies, MPS Group, Vivara, Bhartiya City in Bengaluru


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