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DLF market cap touches Rs 1-trillion mark
2007-07-13 13:41:00
MUMBAI: Realty stocks on the bourses rallied on Wednesday even as the market value of DLF Ltd, India's biggest real estate firm, crossed Rs one-trillion mark on hope RBI may not raise interest rates at a credit review later this month. The scrip of billionaire K P Singh-led DLF, which listed on the bourses only on July 5, rose 3.27 per cent or Rs 18.70 on the Bombay Stock Exchange at Rs 590.45. Its market cap jumped to Rs 1, 00,053 crore just before today's closing and settled at Rs 99,733 crore as compared to Rs 96,575 crore yesterday. DLF scrip witnessed demand after reports that the company emerged as the front-runner for developing an integrated township project in Bangalore, market men said. DLF's market value had crossed Rs one-trillion mark during intra-day trade on the listing day itself when the scrip surged to Rs 714 on BSE, but ended below the level. Besides, most realty stocks jumped amid expectations that the central bank may not increase intere...
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Unitech annouces luxury residential project - Unitech Grande in Noida
2007-07-13 12:46:00
New Delhi, India , July 07, 2007 - Indian real estate major Unitech Ltd has announced the launch of a premium residential project, Unitech Grande, in Noida. Unitech Grande is a premium lifestyle destination offering super luxury apartments in sylvan surroundings across 347 acres of prime land. Unitech Grande is located on the premium Noida Expressway, less than 2.5 kms from the Amity Chowk on the Expressway, thereby enjoying good connectivity and locational advantage with respect to the city master plan. It offers a tranquil environment in the NCR affording a varied selection of upscale typologies overlooking a golf course. Conceived to be the most sought after address in South Asia, this township offers the best living, shopping, working and hospitality facilities within a ten-minute drive along with superior accessibility to the nations capital. The heart of this creation is a signature Golf Course exclusively designed by none other than Greg Norman himself. Apartment size range...
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Parsvnath Developers secures mall project in North Delhi
2007-07-13 12:43:00
New Delhi , India, June 21, 2007 - Parsvnath Developers Ltd on June 21, 2007, has announced that the Company has bagged another DMRC project for developing an ultra modern fully Air-Conditioned shopping mall outside Netaji Subhash Place Metro Station in North Delhi. The prestigious project located at a prime location on the Ring Road, slated to attract huge footfall, would cost approximately Rs 150 crores. The Company bagged the project through a competitive bidding process. The project sprawls over an area of 19,400 sq.mtr with a developable area of 2,50,000 sq.ft. The project aims to gratify the shopping needs of public traveling by metro. The shopping mall would be truly world class and will house a number of big brands to cater to huge local demand in the area. The project will have multiple pull factors and global brand mix that will ensure enormous attraction value. Speaking on the achievement, Mr. Pradeep Jain, Chairman of the Company said, "We are extremely privilege...
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Opus Developers forms JV with Sunway City of Malaysia for Hyderabad townshi
2007-07-13 12:41:00
Hyderabad, India, July 03, 2007 - Malaysia n property developer Sunway City Berhad has partnered up with Hyderabad based Opus Developers & Builders to develop a Rs.800 crore township on 14ha of land near Hitec City in Hyderabad. Announcing the venture yesterday, SunCity said its wholly owned subsidiary Sunway City India Pvt Ltd had entered into a 50:50 joint-venture agreement with Opus Developers to undertake the project, expected to commence in mid-2008. The company said that the proposed Sunway Opus Grand Residency project provide the company the opportunity to develop prime land in India and gain direct access to property development experience in India via strategic partnership with Opus Developers. The objective is to build super luxury deluxe homes of 1,600-1,800 sq ft in the range of Rs 50-60 lakh. "The property market in India remains largely undeveloped, lacking quality products and refreshing ideas. Sunway Opus Grand Residency seeks to be differentiated by int...
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Emmar MGF awarded contract for building Commonwealth village by DDA
2007-07-13 12:37:00
New Delhi, India, July 04, 2007 - Real estate developer Emmar MGF has bagged the contract for building the Comm onwealth Games village in Delhi. The Delhi Development Authority awarded the contract to Emmar MGF as it was the only company that qualified for developing the complex with a price bid of Rs 321 crore against a reserve price of Rs 300 crores, a DDA spokesperson told reporters. "We are pleased to win this prestigious project and to have the opportunity to develop one of the most significant real estate landmark for a global event of this stature," Emmar-MGF managing director Shravan Gupta said in a statement. Initially 14 developers had requested for qualification but only 11 qualified, of which DLF and Emmar-MGF had submitted bids for building the village, the official said. DLF was disqualified for not fulfilling all the criteria in the tender. The games village is to be completed by December 31, 2009, the official added. By INRnews Correspondent Visit: I...
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Indiabulls Real Estate prices $360 million GDR offering
2007-07-13 12:32:00
Mumbai, India, July 04, 2007 - Indiabulls Real Estate Ltd (IBREL) has aanounced that IBREL priced its US$ 360 million GDRs offering on the Luxembourg Stock Exchange at US$ 10.32 per GDR. Each GDR represents one equity share of the Company of nominal value Rs 2 each. The book closed on July 03, 2007 and the issue was priced after market hours on July 03, 2007. Merrill Lynch International is acting as the sole underwriter for the offering. IBREL has also granted an over-allotment option of up to US$ 40 million to Merill Lynch International. By INRnews Correspondent Source: INR News-The Indian Real Estate Reporter Visit: Bangalore Property Blog
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DLF debuts on BSE at premium to issue price
2007-07-13 12:29:00
Mumbai, India, July 05, 2007 - Indian Real estate major DLF Ltd saw its stock close at a 8.6% premium to the IPO price of Rs.525 on the first day of trading on the BSE. The stock saw a low of Rs.505.60 and a high of Rs.714.25 on opening day. DLF is already amongst the top 10 companies traded on Indian exchanges based on its market capitalisation of over Rs.96,000 crore. By INRnews Correspondent Source: INR News-The Indian Real Estate Reporter Visit:  Bangalore Real Estate Reporter
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Ansal Properties signs an agreement with Fortis
2007-07-13 12:14:00
Lucknow, India, July 04, 2007 - Ansal Properties & Infrastructure Ltd has announced that the Company has signed an Agreement with Fort is Health care Holding Ltd, (Fortis) for setting up a world class Medicity at its Project, Sushant Golf City, located in Lucknow (U.P). In terms of the said Agreement, Fortis shall, set up Fortis facility for medical treatment and teaching at the Sushant Golf City, Lucknow. The Medicity is planned to be spread over 52 acres of land and to be completed in about 7 years. It will have an 800 bed ultra modern hospital along with teaching facilities. The Medical College is to offer undergraduate medical courses, specialized post graduate and post doctoral courses. The Dental College is to provide both undergraduate and post graduate dental education. The Nursing College in the Medicity will offer graduate, post graduate and post doctoral nursing education. Moreover, the Medicity will have a College of Physical Medicine and Rehabilitation, a Colleg...
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Adlabs launches property in Ahmedabad
2007-07-12 12:17:00
12 June 2007, 11:11 AM   MUMBAI: Adlabs Cinemas has made its long-awaited entry into Ahmedabad , with a five-screen 1110-seat cinema spread over 38,000 square feet at the Himalaya Mall on Drive In Road. The company is also planning to open its Hyderabad property soon.The new Adlabs property in Ahmedabad will have five screens, a food court, a convenient parking facility, the latest surround system sound and the widest screens in the city, claims the company. It features a 46-seat screen with fully reclinable seats, sound provided by a standalone Bose Pipe Music system and an attached lounge which offers an e xclusive menu served by personalised staff as part of the Silver ServiceAdlabs Cinemas COO Tushar Dhingra says, "Ahmedabad is a very attractive city for Adlabs due to a large cosmopolitan population that loves films. We are entering Ahmedabad in a particularly big way with our premium Ebony Lounge, which provides the best movie-watching experience possible. It'...
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China Vs India: Whose Real Estate Market Wins?
2007-06-28 09:40:00
There is no doubt that there are several similarities between India and China in terms of GDP growth, residential property boom, organized retail malls and improving lifestyle.  Both the countries are undergoing large economic expansion and envisage political and technological ambitions.  However, China has been leading in some developments for the past four to five years. Emerged as a significant employment channel, the real estate in China is certainly one of them. Growing by leaps and bounds, Indian real estate also continues to make rapid strides and is expected to outperform China, despite a concerted innovation drive from the latter. Indian realty is attracting large attentions from international players desiring to make large scale investments.   The fast growth of both the country’s market will further boost allied industries including metallurgy, raw materials, home decoration, electrical appliances, and finance, which will in turn the produce a ...
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Future Group, real-estate firm to invest Rs850 cr on Pune enclave.
2007-05-25 17:17:00
Lack of space is forcing companies to build banks of commercial space and ride the retail boom in the country.New Delhi: Future Group, the parent company of India's largest listed retailer Pantaloon Retail (India) Ltd, and a local real-estate firm will invest around Rs850 crore to build an entertainment *** commercial enclave in Pune to tap the growth in the country's booming commercial space and retail sectors.The 2.8 million sq. ft project called Market City will have malls, a 300 to 350-room business hotel, entertainment space and offices and is expected to be completed in phases by mid 2010.Future's real-estate private equity fund, Kshitij Investment Advisory Co., and Pune-based developer City Group will invest Rs180 crore each with the remaining Rs490 crore being funded through long-term debt from banks and financial institutions, said Shishir Baijal, chief executive of Kshitij Investment. The project will be designed by Walker Architects of New Zealand and will be ...
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Real estate bubble? Increased supply is the solution !
2007-05-25 17:12:00
The government is on the horns of a major dilemma when it comes to the real estate sector. Over the past few weeks it has sought to systematically choke external fund flow to this sector. The budget restricted benefits of venture capital investments to nine sectors, a move believed by many to be aimed at the real estate sector. Earlier this month the finance ministry said that preference shares issued to foreign investors ought to be treated as debt. A few days ago the government removed integrated townships from the list of sectors eligible to garner funds through external commercial borrowings (ECB). As reported by ET, one reaction to the clampdown is for lawyers and bankers to search for ever more exotic instruments to get around the ban. One such ruse is for an Indian real estate company to set up an overseas subsidiary which can issue preference shares to foreign investors. The overseas subsidiary can then invest in an Indian real estate project. This shows up as equity, not su...
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JP Morgan to invest Rs 400 cr in Chennai
2007-05-09 15:50:00
MUMBAI: J P Morgan Property Fund, which has mobilised over $300 million to focus on the Indian real estate, is going to set up a residential project in Chen nai at an estimated cost of Rs 400 crore. Chennai-based realty developer Arihant Foundations and Housing will develop the residential property, spread over 45 acres of land, in a joint venture with J P Morgan. The company's Board of Directors on Wednesday authorised its entry into the joint venture (JV). The JV would have 50:50 equity participation from both the partners, Arihant Foundations informed the Bombay Stock Exchange (BSE). The India property fund targets key economic centres in the country including Mumbai, Bangalore, Chennai, Kolkata, Hyderabad and New Delhi, among others, to develop projects along with local partners. Last year, J P Morgan Asset Management had announced the mobilisation of around $360 million from institutional and high net-worth investors (HNIs) from the US, Asia, Europe and the Middle East to in...
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Property prices in Hyderabad set to fall: Huda
2007-05-09 15:48:00
Hyderabad may now be the country's second largest city. But the city's big growth could actually mean property prices falling, reports CNBC-TV18.The Municipal Corporation of Hyderabad is now 450 sq km larger, second only to the National Capital Region (NCR). The additional areas will have all infrastructure and basic amenities that the center of the city enjoys. The project will require a total investment of Rs 28,000 crore from the government. Officials said the new supply would cause prices of residential property in the city to fall  Jayesh Canjan, Vice-Chairman of Huda said, “Prop erty developers will be able to open up many more areas for residential purposes and the availability of housing in terms of supply will go up and because of that the prices will come down."  Hyderabad has seen an increase of % over the last two years because of the large gap between demand and supply of residential property. Real estate consultants expect the fresh land sup...
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Now Nagpur , property records just a click away
2007-05-09 15:38:00
NAGPUR: The Nagpur Municipal Corporation (NMC) may become the first local self government organisation in the state and perhaps in the country to make available online entire records of all its five lakh properties in the city. "We have initiated the project and a budget provision of Rs 1 crore has been sanctioned," additional deputy municipal commissioner Ajay Ramteke said. Apart from this, the corporation is undertaking GIS mapping of properties and has proposed to set up of ten kiosks for payment of property taxes. According to Ramteke, the corporation will get all the property records scanned before putting them online. The corporation is still to work on bid documents and the tendering process is likely to begin by next month. The project is expected to be completed within a year. The project has several advantages both for residents and the civic body. Property owners can now get details regarding the property on a compact disc or can also check them online. This cou...
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London property the most expensive
2007-05-09 15:33:00
London is home to the most expensive property in the world, followed by Monaco, New York and Hong Kong, a new report shows. Prime property in the British capital costs 2,300 pounds per square foot, just above Monaco, playground of the rich and famous, at 2,190 pounds, according to estate agent Knight Frank and Citi Private Bank's "Wealth Report 2007". It points to the growing influence of high net worth individuals -- defined as those with more than 5 million pounds in investable assets -- on the property market across the globe. Its index charting the value of similar property at the top end of the market in more than 70 locations ranks New York in third place, with prime property fetching an average price of 1,600 pounds per square foot, and Hong Kong in fourth, commanding 1,230 pounds. Tokyo, Cannes, St Tropez, Sydney, Paris and Rome make up the top 10. Elsewhere in Great Britain and Ireland, Dublin, Birmingham, Edinburgh and Manchester are identified as prime locat...
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Panoramic Universal Limited Ventures in Hyderabad
2007-05-09 15:27:00
Panoramic Univ ersal Limited (PUL) the flagship company of the Panoramic Group has acquired a hotel property in Hyderabad from Shri Vatsa Hotels Private Limited at a total cost of Rs. 18 crores.PUL will convert this semi finished property into a 4 star hotel comprising of 90 rooms, a multi-cuisine restaurant, banquet hall and a roof top restaurant. The company is looking for a suitable international franchise for the hotel. The property is strategically located in Ameerpet, in the heart of Secunderabad city and is near Hyderabad's famous landmark the clock tower and the regional passport office. Hyderabad airport and Secunderabad railway station is just a couple of kilometers away from the property. The hotel is expected to be operational next year. PUL estimates a total investment of Rs.40 crores for the property.Speaking about the acquisition Mr. Sudhir Moravekar Chairman Panoramic Group said, " This is a landmark acquisition as this is the groups first four star hotel in ...
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ETA Star Property scouts for foreign partners for township project near Che
2007-04-23 13:51:00
Chennai: Chennai's ETA Star Property Developers Limited, part of $4 billion turnover ETA Ascon group based in Dubai, is holding discussions with two US and two European investors to offload an approximately 40-per cent stake. The stake sale will help finance its real estate development projects in the pipwline. The Tamil Nadu Industrial Corporation Limited holds a 0.1-per cent in ETA Star, with the balance being held by the promoters.According to managing director P H M Syed Ismail, the company needs funds mainly to execute its proposed Rs12,000-crore integrated township project at Sriperumbudur near Chennai. "The project will be spread over 1,200 acres. Already we have 250 acre and the balance is in the process of acquisition." He hopes to complete the land acquisition process in six months, while the the entire infrastructure is scheduled for completion in one and a half years. "After that it will take around seven years for us to complete the entire township pr...
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GE Finance Betting on Realty and Aviation
2007-04-16 13:39:00
GE Commercial Finance is planning to increase its exposure in the India n market. The company, which is registered as NBFC (non-banking financial institution) in India, is targeting an asset base of over $8 billion by 2010 from less than $4 billion at present. The financing behemoth is betting on real estate, aviation, infrastructure and energy to drive growth. Tejpreet S. Chopra, president & CEO, GE Commercial Finance India said, “Globally, we are among the top to finance commercial sectors across a range of sectors which we understand in depth. Be it infrastructure, manufacturing, power, real estate, we have been pioneering funding with a plethora of instruments. We should be breaching the $8 billion mark much ahead of our target time.” He said that the bulk of the growth over the next three years will come from real estate investments, which would be at least $2 billion in three years time. We have exposure of close to $1 billion in the aviation sector in India and...
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NRIs buy India story, pump in Rs 100 cr in just 2 months
2007-04-16 13:36:00
While the retail investor in India is increasingly becoming sceptical about investing in the volatile equity market at current levels, NRIs are taking a contrarian view on the same. The NRI community, which till a few months ago was pulling out money have invested nearly Rs 100 cr, in less than 2 months of the current calendar year (CY07). Experts feel that corrections witnessed in the recent past have made NRIs more bullish on the Indian market and as such are looking to reinvest. The data clearly shows that NRIs have been pulling out money earlier, which was due to reasons like high rupee-dollar rate and valuation concerns, said the head of a brokerage with a sizeable overseas presence. As per the BSE data, NRIs were net buyers at Rs 28.68 cr and Rs 70.30 cr in February and March, respectively. In January, they were sellers at Rs 2.16 cr. Interestingly, the increase in inflows may well be the reason for many of the brokerages new-found partiality for the Gulf region.! Although, mo...
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Nagarjuna Construction gets Rs 3.02-bn orders
2007-04-16 13:32:00
Nagarjuna Construction Co Ltd said recently that it had secured three orders worth 3.02 bn rupees, including a water supply project order worth 2.46 bn rupees. The Economic Times New Delhi Edition March 27 2007For Apartments in South Bangalore Visit www.mybangaloreproperty.com
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New authority is being set to examine land requirements of SEZ
2007-04-16 13:29:00
Even as the row over land acquisition for industrial projects rages, a new authority is being set up to vet land requirements of SEZ projects. The move is aimed at preventing SEZ projects from turning into real estate ventures. The rural development ministry has proposed that the authority should scrutinise the demand for land by promoters before forwarding a case for further approvals. The authority would also undertake independent assessment of SEZ projects and wield powers to scale down land requirements. The proposal is expected to be included in the new rehabilitation and resettlement (R&R) policy being finalised by the ministry. The Economic Times New Delhi Edition March 22 2007Visit www.MyBangaloreProperty.com
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Indian Cities to face ecological stress, says satellite survey
2007-04-16 13:25:00
The haphazard way in which the city is turning into a concrete jungle makes it vulnerable to severe ecological stress in near future, says a Lucknow University survey based on satellite data. The survey by the university's Geology department says lack of planning and focus exposes the city to civic problems like water-logging, and eats into the authorities dreams to make it at par with the best of metropolitan India . The satellite survey shows development agencies are making inappropriate planning; in their pursuit for a vertical and horizontal growth, they are not taking into consideration the land-suitability factor. If this goes on, the survey team says, even plush residential colonies would remain vulnerable to water-logging, damage of houses due to accumulated humidity and such civic problems. The departmens study has also listed several colonies in Hazratganj, New Hyderabad, Chowk and nearby areas as likely to face ecological stress in near future.! According to Dr Vibhuti...
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Parsvnath launches new project at Noida-Parsvnath Privilege
2007-04-16 13:23:00
Delhi-based Parsvnath Developers Ltd has launched its Rs 325 cr project Parsvnath Privilege in Greater Noida consisting of 3-bedroom luxury condominiums. The project sprawls over an area of 25 acres with built-up area of more than 18 lakh sq. ft. Business Standard New Delhi Edition March 23 2007Visit www.mybangaloreproperty.com for projects in Bangalore
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National Conference on Affordable Housing for All on 4th & 5th April 2007
2007-04-16 13:20:00
The National Conference on âAffordable Housing for All (7th National Convention) is being organized by National Real Estate Development Council (NAREDCO) on 4th & 5th April 2007 at Hotel Ashok, Chanakya Puri, New Delhi , as to focus on provision of affordable housing, real estate and allied urban infrastructure & services in the country. The National conference is aimed at deliberating and recommending concrete action plan to make affordable houses available to all, particularly to poor and economically weaker section of the society. For further informationclick hereCompany Sources of NAREDCO march 27 2007
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Indian Real Estate Expo 2007 In U.K. On 5th and 6th May
2007-04-16 13:14:00
Imperial Land Developments Ltd. Of U.K. in association with the Builder Information Bureau of India is jointly organizing an Exhibition of Indian Real Estate Developers in May 2007. This event is taking place in the Metropolis City of London and is going to run for 2 full days on the 5th and 6th of May 2007. The venue is 5 Star Hotel, the Skyline Sheraton Hotel at Bath Road, London. This a great opportunity for Property Giants from India to Exhibit their current projects in Residential, Commercial or Industrial Developments in India to the mainly Non Resident Indian population of England and rest of Europe. For further information click hereSource: 99acres.com  March 27 2007Visit www.mybangaloreproperty.com for Bangalore Property
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NBG-HUDA Presents International Realty Exhibition On 7th, 8th and 9th April
2007-04-16 13:11:00
National Builders Guild (NBG) in association with HUDA is presenting an international real estate exhibition at Gurgaon, Haryana. NBG is the apex national self regulatory body representing all spheres of enterprises engaged in various aspects of real estate development which includes land development, layout planning and construction, provision of urban & social infrastructure.For further information click hereCompany SourcesVisit www.mybangaloreblog.com
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Alwaye on the Move
2007-04-16 13:05:00
The positive fallout of the current phase of development of the city of Kochi is that the residents have started realizing the advantages of living in the quieter suburbs. One such fast developing centre is Alwaye. Several major players in the building industry have already announced prestigious projects in Alwaye and the town has always been a booming centre of trade and commerce. The region is also the industrial hub of Kerala. Eversince leading industrial units in the state like FACT, TCC, HIL, IRE, IAC etc came up on the banks of Periyar, Alwaye belt saw rapid developments. However, it was the new airport project at Nedumbasserry that gave a real boost to the development prospects of this town. Times Property New Delhi Edition March 24 2007Visit www.mybangaloreproperty.com
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Luxury Retail Malls to Debut in India
2007-04-16 12:59:00
This year will see international luxury brands like Gucci, Armani, Versace, Dolce & Gabbana etc. set shop in India , inside malls that will be exclusively catering to upscale, premium lifestyle brands. With 4-5 luxury malls coming up in India, a deluge of international lifestyle brands is set to descend upon the country this year. According to a recent survey, high net worth individual households in India stand at 1.6 million, growing at around 14-15% annually. And with the luxury market pegged at Rs. 64,000 crores, the going is only getting better. There are at least 5-7 urban micro markets in India for luxury retail, namely, South Mumbai, North Mumbai, South Delhi , Central/South Western Delhi, Chennai and Bangalore , and possibly one in Punjab (Ludhiana or Chandigarh). Cities like Mumbai and Delhi can absorb multiple centers for luxury retail, in order for the brands to be conveniently accessible to the large expanse of the populace. In another 4-6 years, Bangalore and Chennai a...
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Puravankara Group's Chennai project
2007-04-11 11:25:00
Earmarks Rs. 1,000 crore for various schemes Project to be executed in a phased manner Has a JV with Keppel Land of Singapore CHENNAI: Mumbai-based real estate developers Puravankara Group has earmarked Rs. 1,000 crore for various projects it proposes to take up in and around Chennai . The company had already disbursed Rs. 500 crore for its various on-going projects in Chennai. Addressing a press conference here on Tuesday, Girish Puravankara, Deputy Managing Director, said the company was launching its residential project at the IT Corridor on the Old Mahabalipuram Road in Chennai. The Rs. 300-crore project was being built on 11 acres. The construction would begin around May. The project would go on stream in about three years. Mr. Puravankara said the new project, Purva Swan Lake, comprised 700 apartments. Each apartment would have two to three bedrooms with an area ranging between 1,250 sq. ft and Rs. 1,750 sq.ft. The price of these apartments would range between Rs. 3,400 and Rs....
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