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India Real Estate News Weblog

India Real Estate News Weblog
Property Infrastructure Investment Buisness at all the latest information about Indian Economy and Real Estate Sector, Apartment Builders Developers and more
Articles: 1, 2, 3, 4


IRB Infra renews focus on road projects
2010-10-15 14:36:00
Indian toll-road builder IRB Infrastructure Developers plans to renew its focus on road projects and has dropped plans to foray into power, while its cement plans are on hold, a top official told Reuters on Monday. "...There is a lot of orderbook...(read more)
More About: Projects , Focus , Road
Real estate emerging as significant asset class
2010-10-15 14:29:00
While stocks and bonds have held their position as traditional investment instruments , investors are increasingly looking for alternate investments such real estate, hedge funds, private equity and exchange-traded funds (ETFs) to engineer an overall...(read more)
More About: India , Estate , Real Estate , Real , Class
Demand-starved realty sector to get boost in 2010
2010-02-09 10:35:00
The year 2010 appears to have brought cheers to the demand-starved realty sector. With signs of economic recovery emerging in the country, the real estate sector has been predicted to see increased business activities. According to global real estate...(read more)
More About: India , Real Estate , Report
IRB Infra qualifies to bid for Rs 22,000 crore road project
2009-09-07 12:32:00
IRB Infrastructure Developers said it has qualified to bid for projects worth Rs 22,000 crore from the National Highway Authority of India (NHAI) and Gujarat State Road Development Corp (GSRDC) among others. "As regards to the future growth opportunities...(read more)
More About: Industry News , Project , Construction Industry
UK real estate insolvencies doubled since Q3 2007
2009-09-07 12:31:00
Real estate and construction firms have been the worst hit in Britain by the global downturn, with the number going bust more than doubling since the credit crunch started two years ago, according to a report on Friday. Some 1,573 companies in the property...(read more)
More About: International , Estate , Real Estate , Industry News , Real
YSR's death may hit infra companies
2009-09-07 12:30:00
The death of Andhra Pradesh chief minister Y S Rajasekhara Reddy in a helicopter crash this week is likely to affect infrastructure companies more than any other enterprise in the state, reports Business Standard. Reddy’s tenure was known for infrastructure...(read more)
More About: Companies , Real Estate , Industry News , Death
Karnataka focuses on infrastructure development
2009-09-07 12:29:00
Karnataka is focusing big on infrastructure development, if the plans and projects in the pipeline are anything to go by. According to V Madhu, principal secretary – Infrastructure Development Department, Karnataka Government , there are 224 projects...(read more)
More About: Karnataka
Punjab to take up Rs 31,248 crore infra projects via PPP model
2009-09-07 12:28:00
The Punjab Infrastructure Development Board (PIDB) will take up new projects under the public-private-partnership (PPP) mode valued at Rs 31,248 crore, reports Financial Express. According to the report, around 62 projects are on anvil. The most ambitious...(read more)
More About: Government , Projects , Model
Nagarjuna Construction to raise Rs 367 crore via share issue
2009-09-07 12:27:00
Nagarjuna Construction said it will raise Rs 367.35 crore by way of private placement of shares with qualified institutional buyers. The board of directors have approved to allot 2,77,32,900 shares at Rs 132.46 a piece, totalling to Rs 367.35 crore by...(read more)
More About: Real Estate , Industry News , Builders , Stock
Jaiprakash Associates, IDFC to be included in CNX Nifty index
2009-09-07 12:27:00
Infrastructure firm Jaiprakash Associates and core sector financier Infrastructure Development Finance Co (IDFC) are on their way to join the Nifty -50 club, the National Stock Exchange said on Friday. The two companies will be replacing of aluminium major...(read more)
IIFCL eyes Rs 11,500 crore disbursal this fiscal
2009-09-07 12:26:00
Government-owned India Infrastructure Finance Company Limited (IIFCL) expects to disburse close to Rs 11,500 crore this financial year. “Our disbursement so far this financial year has been close to Rs 6,300 crore. It was Rs 4,891 crore by the end...(read more)
More About: Government , Eyes , Financial News
Realty stocks continue to shine
2009-09-07 12:25:00
Real estate stocks on Friday continued their upward march with few showing signs of weakness in what is seen as a range-bound market for now. The Realty Index too saw a minor upside at 4297.49 up 2.09 per cent over Thursday’s close. However, the...(read more)
More About: Stocks , Industry News , Stock , Shine
Government recalls two directors from Maytas Infra board
2009-09-07 12:24:00
The government has recalled two nominee directors, K Ramalingam and O P Vaish, from the board of Maytas Infra which was handed over to infrastructure major IL&FS on Monday. Two other government nominees, Ved Jain and Anil Agawaral, will, however,...(read more)
More About: India , Government , Real Estate , Industry News , Board
CHD?s latest project sold out in six weeks
2009-09-07 12:23:00
CHD Developers, the New Delhi-based real estate company, has announced that its latest project ‘CHD Lifestyle’ comprising 138 residential units spread in an area of approximately 1,50,000 sq ft has been completely sold out within a span of...(read more)
More About: Real Estate , Project , Builders
Falcon Realty coming up with affordable green project in NCR
2009-09-07 12:22:00
New Delhi-based Falcon Realty Services is coming up with a green residential complex, Gulmohar Woods, in the NCR region on National Highway 8. Meanwhile, it is a part of the developer's Global Eco-City mixed-use project spread over 500 acres, comprising...(read more)
More About: Real Estate , Project , Green
Mumbai Flat Auctioned at a Record Price- Rs.1.25 Lacs for a Sq.ft!
2008-05-22 15:55:00
India Shining!, remember the Slogan used by BJP during its past government?, here is a BJP  person who has Proved this Literally. Cinestar and BJP MP Vinod Khanna has bought a residential apartment at Malabar Hill, in the tony South Mumbai area, from Citibank for Rs 1.25 lakh a sq ft. Khanna has paid Rs 31.25 crore for the 2,500 sq ft flat. The sale price was four times higher than the reserve price of Rs 32,000 per sq ft. In a similar transaction nearly six months back, a London-based NRI acquired a 3475 sq ft property in NCPA apartments at Nariman Point for Rs 97,842 per sq ft. Real estate industry experts said the price at which a property was sold cannot be viewed as a benchmark in South Mumbai as the area has a limited supply of real estate. "Buyers are keen on South Mumbai properties due to the status attached to it. Properties in the area will always sell at a premium," said Sanjay Dutt, deputy managing director, Cushman & Wakefield. Citibank put ...
More About: Real Estate , Price , Investments , Record
DLF, Nitesh, HDFC vie for Beacon House
2008-04-20 15:53:00
DLF, Nitesh Estates and HDFC Realty are amongst the bidders reportedly in the fray to acquire NRI tycoon C Sivasankaran’s Beacon House , located off the upmarket Cenotaph Road in the heart of Chennai . The 3-acre property, a former residence of UB Chairman Vijay Mallya when he controlled Best & Crompton (B&C), may fetch as high as Rs 225250 crore, sources said.Mr Sivasankaran has mandated CB Richard Ellis to sell the property through an auction, with five bidders indicating early interest. While multiple sources confirmed interests from DLF, Nitesh Estates and HDFC Realty, unconfirmed reports indicated that local developer Arihant and Bangalore-based Sobha Developers are also in the fray.Mr Sivasankaran had acquired the property in early 2006 for Rs 100-110 crore, sources said.The bidders, like DLF and Nitesh, may be eyeing the property for premium residential units, which, going by the current FSI of 1.5, could see 4 lakh sq ft of fresh development. The area has houses ...
PNB signs pact with IIFCL
2007-10-23 11:18:00
Punjab National Bank has entered into a MoU with India Infrastructure Finance Company Ltd. The MoU was inked by Dr. K.C. Chakrabarty, PNB Chairman, and Mr S.S.Kohli Chairman and Managing Director, IIFCL, here on Wednesday. Under the MoU, PNB and IIFCL will cooperate and complement each other's capabilities in the area of creating a deal flow of infrastructure projects that could be structured along commercially viable lines based on project appraisal undertaken by PNB, IIFCL and PNB Gilts Ltd.
More About: Property , Banks , Industry News , Signs
Need of Real Esate Regulatory Body in India
2007-10-23 11:16:00
If you want to buy an insurance policy, you have to purchase the policy from an insurance agent recognised by the Insurance Regulatory Development Authority. If you want to invest in fixed deposits, you have to follow RBI guidelines. If one wants to invest in shares then there are SEBI guidelines for regulation. However, when a person is on the verge of making the most significant investment in his or her life i.e. buying a house, there is no regulatory body. A paradoxical situation indeed, which has led to lack of professionalism and has brought builders and brokers of all kinds, who are not aware of basic rules and facts of civil engineering, into the picture. According to Union Minister for Urban Development S. Jaipal Reddy by next year a real estate regulatory body would be in place to protect interests of consumers. However, consumer rights experts have reservations over the proposed regulatory body. “Will the regulatory body be allowed to run by people who do not have ve...
More About: News , India , Government , Body , Property
Manesar is being developed by the Govt. of Haryana as the new area for deve
2007-10-23 11:12:00
With the growing scarcity of land in the existing Gurgaon Master plan, Manesar is being developed by the Govt. of Haryana as the new area for development. Most of the builders have already acquired lands in Gurgaon Manesar Expressway to develop townships like Unitech , Vatika, Raheja, DLF, N R Buildcon and many more.  The proposed Expressway to Jaipur and SEZs to be developed by Reliance, DLF, Unitech and Raheja are already adding value to Manesar apartments for builders and owners. Driven by positive growth in the economy and large scale investments in SEZ, the real estate in Manesar is booming at a swirled pace and in a recent survey, Manesar has emerged as one of the top 3 investors’ choice for real estate investment.  Manesar has also appeared as one of the India’s major outsourcing hubs, housing major multinationals such as Honda, Baxter, Suzuki, Stanley, Mitshubishi, Nippon, Toyota etc. Already a home to many manufacturing units of repute such as largest c...
More About: Property , Area
Government Clears 14 new SEZs
2007-10-23 11:10:00
Government approved 14 proposals for setting up SEZs, including those of TCS and Singapore-based realty major Ascendas but deferred a decision on plans by DLF and Unitech Hitech for setting up tax-free zones in Noida in the NCR region.Formal clearance for 10 proposals and in-principle nod to four applicants was given by the Board of Approval chaired by Commerce Secretary G K Pillai."Formal approval was given to plans of TCS to set up an IT zone in West Bengal and Ascendas received in-principle clearance for electronic and multi-product SEZs in Tamil Nadu," Pillai told reporters after the meeting.He said the decision on DLF and Unitech Hitech was deferred since the promoters did not have land in possession.This is the first decision on SEZs after the Union Cabinet had cleared the Resettlement and Rehabilitation policy, making the process of land acquisition transparent and easy for the promoters.
More About: News , Government , S 14
US Group unviels Dh 4.3 Billion Resort in UAE
2007-10-23 11:03:00
US-based PKN Group said it will develop a Dh4.3-billion resort to bring "Las Vegas-style" living and entertainment to a desert area of Ajman near the border with Ras Al Khaimah.To hammer home the point that it would be fit for celebrities to live there, the company even brought Dirty Dancing star Patrick Swayze to endorse the plan. The company unveiled its PKN Princess Resort at an event at the Burj Al Arab hotel on Thursday night.FacilitiesThe California-based company's chairman Max Paxima said the development is "unlike any other project" attempted in the UAE.It will offer hundreds of apartments, low-rise houses, a shopping mall, an office tower and a five-star hotel. A casino will also be built, but without gambling facilities, Paxima said. "This is a not a gaming and gambling casino. This is a Las Vegas-style entertainment centre," he told Gulf News .With entertainment being a big theme, the project's unveiling was accompanied by a performanc...
More About: Property , Dubai , Resorts
No Intention to control capital Inflow: Finance Minister
2007-10-23 10:58:00
Developments in the recent weeks have required India to moderate the flow of funds into the country but the government has no intention of controlling capital flows, Finance Minister P Chidambaram has said."Let me assure you we have no intention of imposing controls on capital inflows. Nor do we intend to keep out certain kinds of funds," Chidambaram told the ICICI Securities Annual Investor Conference in New York on Thursday night.Reacting to the move by stock markets watchdog Securities and Exchange Board of India (SEBI) to control the use of participatory notes by foreign funds, the minister said the move had become necessary following the inflow of foreign funds into India."It is common knowledge developed countries have injected a considerable amount of liquidity into their own markets to overcome their own problems. Part of that liquidity has spilled over into India and some other countries," he said."There is also evidence foreign investors in some co...
More About: Government , International , Real Estate , Property
Navi Mumbai SEZ to include Co-Developers
2007-10-23 10:56:00
The Government has cleared seven co-developers in Mukesh Ambani-promoted Navi Mumbai SEZs, thus endorsing fresh investment through private equity players by a key partner of the RIL Chairman."The Board of Approval gave a green signal to the Navi Mumbai SEZ proposal subject to their producing data on net assets of the co-developers," Commerce Secretary G K Pillai said.The intricately structured SEZ was first divided into four zones - one multi-product and three for IT and ITeS. Later, the promoters inducted seven co-developers with Jai Corp being the holding firm for these partners.According to sources, Jai Corp had sold its 10 per cent stake through an overseas infrastructure fund and raised Rs 2,500 crore to be ploughed back to all the co-developers.A source said with the government approving the co-developers's arrangement and the 'money having been realised, the promoters can go ahead with new financial restructuring.'"The Navi Mumbai SEZ will have to f...
More About: News , Real Estate , Developers
NRIs Boost indian property market
2007-10-23 10:47:00
India has a housing shortfall of 26 million units with the bulk of demand coming mostly from non-resident Indian s (NRIs), making it a rich property market for developers to tap, a Citibank official yesterday said. Mumbai-based Ashish Mehrotra, business head and vice-president for mortgages at Citibank India, said the Indian property market has been increasing at between 30-35 per cent per annum, and will continue to see huge demand in the coming years. "The markets are very buoyant, and developers have been providing internationally-accepted standards in the property industry," he said at the opening of IndiaHome Property Exhibition, a trade show for NRIs seeking to purchase houses in India. He said the three-day event, which is being sponsored by Citibank and held at Shangri-La Hotel, targets the NRIs in Dubai and the whole UAE for properties being offered by 12 large developers covering India's 18 major cities. He added that Citibank, a member of global financial ser...
More About: Events , Real Estate , Market
Massive Shortage of Govt office Accomodation
2007-10-23 10:29:00
There is a net shortage of 25.90 lakh sq feet of government office accommodation in Delhi alone and 20.12 lakh sq ft in other major cities, according to a report prepared by the Urban Development Ministry. In Kolkata, the demand for government office accommodation is 20,74,653 sq ft but the availability is only 13,79,402 sq ft. Similarly at Bangalore the demand for office is 5,31,802 sq ft but the availability is 1,71,697 sq ft as on December 31, 2005. According to a senior Urban Development Ministry official, "Apart from these cities there is also massive shortage of government office accommodation at Mumbai (1,70,035 sq ft), Chennai (2,14,366 sq ft), Thiruvanathapuram (1.07,600 sq ft) and Bhopal (91,43,200 sq ft)." However, Faridabad and Ghaziabad have no shortage of government office accommodation while Agra and Cochin have a surplus of 8,157 sq ft and 671 sq ft respectively, as per the report. Though the government has sanctioned construction of new offices at various ...
More About: India , Government , Office , Property , Accomodation
Shaikh Mohamed pays Surprise Visit to CityScape, Dubai
2007-10-23 10:25:00
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai , paid a surprise visit to Cityscape, the world's largest real estate exhibition which concluded here yesterday. A B2B (business-to-business) real estate show dedicated to those who can afford to invest over $5 million in the property industry, Cityscape attracted major companies and governments from various countries worldwide. Shaikh Mohammed toured the 70,000 square metre exhibition area at Dubai International Convention and Exhibition Centre, meeting with some of the show's 1,000 regional and international exhibitors. The event organiser IIR Middle East announced in a Press statement record attendance of 30,000 visitors during the first two days, surpassing the number of people who came last year. Group director of Cityscape for organiser Rohan Marwaha said that Cityscape Dubai would not have attracted the quality and scale of its exhibitors had it not been ...
More About: News , Events , Property , Mohamed
IMP Powers Bagged Rs65 Crore Order from Maharashtra State Electricity Board
2007-10-23 10:16:00
Makers of electricity meters and transformers IMP Powers has bagged an order worth Rs 65 crore from a renowned EPS Contractor for supply to Maharashtra State Electricity Board .Under the contract IMP Power will supply EHV Transformers of 132 and 220 kv class, the company informed the BSE today.The company plans to execute the order in the next 6-9 months. The company has the distinction of producing transformers with improved efficiency to supply quality power with minimum losses.
More About: Government , Industry News , Mumbai
Sales Centeres & Advertising prime factors in Property Buyers Decision
2007-10-23 10:14:00
Sales centres and advertising are the most important factors influencing one's decision to buy a property, according to a study released by FutureBrand, a global brand consultancy firm. It said that sales environments have posted a 25 per cent rating in terms of importance in attracting potential buyers. Advertising received a 21 per cent rating compared to six per cent for information videos and five per cent for web sites. "We believe successful sales environments impart a clear and engaging message about the values of a development," said Gulf Real Estate Study, a 2007 survey commissioned by FutureBrand. "In real estate especially, customer environments become the manifestation of the design and quality of property developers' aim to produce." The US firm said the study, based on 300 homebuyers and development professionals in the UAE and Bahrain, "allows us to better understand attitudes and perceptions of communities and developers, along with t...
More About: International , Property , Sales , Report
Parsvanth Developers will build Mega Township in Jodhpur
2007-10-23 10:02:00
Delhi-based real estate major Parsvnath Developers has announced it will build a self-contained, mega township in Jodhpur . Spread over 110.4 acres the township will be called Parsvnath City.According to an official release issued by the company to the NSE today, Parsvnath City will be ready for occupany within two years. The developers also launched Parsvnath Royale Villas, a limited edition of exclusively designed independent villas. The villas are offered in size options of 200, 250 and 300 square yards (in phase 1) and are a part of Parsvnath City.They can be further expanded to suit individual requirements."Parsvnath City will bring alive luxurious living in the city of Jodhpur. The viilas are being designed to bring in a fusion between the traditional architectural layouts which the city is famous for, and the requirements of modern living," said Pradeep Jain, chairman, Parsvnath Developers.The company also has its presence in other cities of Rajasthan, including resi...
More About: Real Estate , Build , Mega
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