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Bank of Baroda, UAE Real Estate Firm Sign MoU
2008-05-14 08:55:00
Bank of Baroda, a leading Indian public sector bank, has signed a memorandum of understanding (MoU) with Dubai-based real estate company Dubai Properties for financing buyers of the latter’s products in the United Arab Emirates (UAE). The agreement was signed between Bank of Baroda chief executive for Gulf operations Ashok K. Gupta and Dubai Properties chief executive Mohamed S. Binbrek, according to a Dubai Properties statement. Bank of Baroda is the only Indian bank offering full-fledged banking services in the UAE. It has six branches, in Dubai, Deira, Sharjah, Abu Dhabi, Al Ain and Ras Al Khaimah and an electronic banking service Unit at Jebel Ali near here. In Oman, the bank has three branches and in Bahrain one.
More About: Estate , Real Estate , Real , Sign , Bank

Pranab hails Dubai Firms’ ‘tailor-made’ India Projects
2008-05-14 08:41:00
The projects being designed by various Dubai -based companies as part of their investment plans in India are tailor-made for Indian requirements, according to External Affairs Minister Pranab Mukherjee. The minister said this after going through a presentation on ‘Dubai’s growth and plans for the future and planned investments by leading Dubai companies in India’ organized by the Dubai Executive Council, a Dubai government entity that formulates and implements federal regulations and local laws and prepares annual budgets along with development plans. “The minister welcomed the investment plans of the companies as were presented and said these were tailor-made for India’s requirements,” a senior diplomatic official, who was present at the presentation Tuesday, the concluding day of the minister’s two-day official visit to the UAE, told IANS. “The minister also reiterated that the Indian government was investor-friendly and fully support...
More About: Projects , Made , Firms

Paramount Group to Invest Rs 1100 cr in three Projects
2008-05-13 06:07:00
Delhi based real estate developer Paramount Group is understood to have decided to invest about Rs 1,100 crore in three projects over the next two years. The company is developing a group housing project - Paramount Symphony - in the upcoming integrated township, Crossings Republik in the national capital region, spread over 360 acres of land. A ...
More About: Projects , Delhi , Invest

Organized Retail to Capture 25 PC Markets by 2011
2008-05-13 06:05:00
In a surprise finding that organized retail is growing faster than expected in India, a study has forecast that this segment could account for a quarter of the total retail revenues by 2011 from the current 8 per cent share. The study has been done by accounting firm Deloitte Haskins and Sells. India?s retail industry, both ...
More About: Markets , Retail , Capture

Hyper City Retail to Focus on Big Box and Multi-Channel Format
2008-05-13 06:03:00
Hyper City Retail , part of Mumbai -based K Raheja Corp, which also owns the Shoppers Stop chain of department stores, has called off plans to launch convenience formats, ExpressCity, announced last year. The retailer is instead shifting its growth plans to focus on the big box format and multi-channel retailing. Officials said it made better business sense ...
More About: Multi , Focus

Can UAE real estate boom dodge US slow down?
2008-05-12 07:45:00
The John Buck Company (TJBC) and Shanghai China-News Enterprise Development (SCNED) are poles apart. The former is a Chicago-based real estate firm, the latter is owned by the Chinese government. But the two now share the same boat with UAE firms Mubadala and Emaar. On March 31, TJBC launched a joint venture with Mubadala, Abu Dhabi’s ...
More About: Estate , Real Estate , Dodge , Real , Boom

Kudos in line on inflation management
2008-05-12 07:25:00
The RBI?s Annual Credit Policy has come and gone and the markets and the economy are reacting to the initiatives of the RBI. It is obvious that the Governor/RBI has been proved correct in his judgment of the inflationary potential in the economy and his measures to raise the CRR before the credit policy were, ...
More About: Management , Inflation , Kudos , Special Economic Zones , Line

Nirula`s to dish it out across India
2008-05-12 07:20:00
Nirula’s, a restaurant-chain that has a presence primarily in the northern region, is planning a nation-wide expansion with an investment of Rs 200 crore in the next three years. The company embarked on an expansion drive when the Nirula’s family, that started the chain in 1934, sold its business to private equity fund Navis Capital Partners ...
More About: India , Dish

Kerala properties on offer at Qatar show
2008-05-11 07:09:00
Various township development projects and designs of residential complexes in Kerala were displayed at a property show in Qatar which aimed at attracting investments from NRIs. Kerala Property Expo, a three-day exhibition, featuring about 50 builders, is currently on in Doha. The show organised by the Kerala Builders Forum (KBF), is sponsored by HDFC bank and ...
More About: Show , Properties , Offer

DLF, Indiabulls bring back S?pore REIT listing from cold
2008-05-10 11:55:00
It’s destination Singapore once again for realty majors Indiabulls and DLF Assets. After deferring their decision earlier this year, the two companies are once again planning to list their real estate investment trusts or REIT s. Indian realty giants are headed to Singapore again. Both Indiabulls and DLF Assets will tap the Singapore market for their REITs, ...
More About: Cold , Back , Listing

Floor Rates for NCR Realty may Rise 30%
2008-05-08 06:39:00
Get ready to shell out more stamp duty while buying real estate in the National Capital Region (NCR). The NCR board is likely to hike the minimum floor area rates (circle rates) for property transactions in and around the Capital by 20-30%. The new minimum rates are expected to make it easier for ...
More About: Gurgaon , Rise , Rates , Realty , Floor

Dubai?s Deyaar drops Project with India?s Ansal
2008-05-08 06:34:00
Deyaar, a Dubai property developer at the centre of an investigation into alleged embezzlement, said it had agreed to drop plans to develop a real estate project in India . In November, Deyaar, Dubai’s second-largest property developer by market value, said it expected to finalize a $5 billion agreement to build a township near Delhi with ...
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Ansal?s Husing Pot Sheme under MRTPC Sanner
2008-05-08 06:31:00
Ansal Housing & Construction Ltd’s residential plots project in Karnal has come under fair trade practices body MRTPC’s scanner, as advertisements promoting the scheme withhold the true cost of plots while inducing potential buyers to seek loans only from a particular bank. The Monopolies and Restrictive Trade Practices Commission (MRTPC) has directed its investigative unit DGIR ...

Finolex to Sell Pune SEZ Land for Rs 400 cr
2008-05-08 06:27:00
Finolex Industries, part of the diversified Finolex group, has decided to sell off its special economic zone (SEZ) plot at Chinchwad near Pune . It is close to signing a deal with a US-based developer to sell the land for between Rs 350 crore and Rs 400 crore. For close to a year, the Rs 950 crore ...
More About: Special Economic Zones , Land , Sell

Indian ?Golf Cities? Fuel Real Estate Boom
2008-05-02 10:45:00
Townships with designer interiors and world-class architecture are passé. Developers are now turning to golf to attract non-resident Indian s and high net worth individuals in the premium housing segment. Residential dwellings built around a golf course are the latest buzzword in the super-premium housing segment of the Indian realty industry, estimated at $15 billion and growing ...
More About: Estate , Real Estate , Golf , Fuel

Emaar may Land $800 m from PE Funds for 3 SPVs
2008-05-02 10:41:00
Goldman Sachs, Deutsche Bank and another financial investor are likely to make a combined investment of $800 million in three special purpose vehicles (SPVs) being created by real estate major Emaar MGF. Each SPV will have one financial investor, who will hold minority stake. According to sources, the Delhi-based developer is in advanced talks with private ...
More About: Land , Funds

Retail Real Estate in India to See up to $10 Bn Investment
2008-05-02 10:31:00
Developers and private equity players are set to put India ?s retail space market on full throttle with investments worth anywhere between $5 billion and $10 billion in FY09-FY10. In moves that would lend retail space gigantic proportions, the Runwal Group and Singapore?s GIC will use a joint venture to launch a ?Our City Centre? retail mall ...
More About: Estate , Real Estate , Investment , Retail

Hospitality Industry Charts New Path to Generate Revenues
2008-05-02 10:23:00
The recent dip in hotel occupancies has led hotels to check out of the plain-vanilla room concept. The hospitality industry is now gearing up for alternate hospitality formats such as residential hotels, destination resorts, condo hotels, vacation ownership and private residents club. Sample this: Four Seasons is developing a destination resort in Puthenkayal, Kerala, which will ...
More About: Industry , Charts , Hospitality , Hospitality Industry , Path

PIL Against State over Pune Land Mafia
2008-05-01 09:15:00
A city-based advocate has filed a public interest litigation (PIL) against the state government for failing to curb illegal land dealing and proliferation of land mafia in Pune . Dinesh Gonjare has filed the PIL in the Bombay high court saying that land mafia in Pune are holding all to ransom. They are not only responsible for ...
More About: Mafia , State , Land

Uppal to Invest Rs 8,000 cr in 4 SEZs
2008-05-01 08:49:00
Real estate firm Uppal Group is planning to invest over Rs 8,000 crore in the next five years to develop four special economic zones and two hotels in the north India. The Delhi-based company has already received the notification for two SEZs in Gurgaon , while it has got the formal approval for two SEZs planned ...
More About: Special Economic Zones , Invest

Rs 1400 cr Township Planned in Pune
2008-05-01 07:36:00
Pune-based real estate companies, the Avinash Bhosale group and Kumar Properties, have joined hands to set up a Rs 1,400-crore township in the third phase of Rajiv Gandhi Infotech Park in Hinjewadi here. The project - Megapolis - comprises 5,800 flats, studio apartments and an IT special economic zone. Pegasus Properties, a 50:50 joint venture floated ...
More About: Pune

Hotel Leela to Build Luxury Hotel in Agra
2008-05-01 07:30:00
Taj Mahal is one of the most popular of the Seven Wonders of the World and the management of Hotel Leela Venture Ltd now wants to build its own wonder to capitalize on this. Leela has already bought land just 1 km away from the Taj Mahal and will be building a high-end luxury hotel. It ...
More About: Luxury , Build , Agra

Super luxury apartment complex planned in Kochi
2008-04-28 09:04:00
Dewa Projects Private Ltd., a venture promoted by a group of NRIs based in Kuwait, will build a super luxury apartment complex on Marine Drive in Kochi . K. Venugoplan Nair, chairman of the company, said the project would set new benchmarks for residential property. The apartments will have a 10-year warranty. Kitchen, bathroom fittings, doors and ...
More About: Luxury , Super , Complex

A New Reality For Realty Mutual Funds
2008-04-28 07:57:00
At last, the decks have been cleared for the launch of Real Estate Mutual Funds (REMFs) in India, with the Securities and Exchange Board of India (SEBI) notifying amended regulations for such products last week. For mutual fund investors, this may mean a welcome relief from the stream of new equity fund offerings, playing on ...
More About: Reality , Realty

Madurai Real Estate Hots up
2008-04-28 06:26:00
Famous for its temples, Madurai has always been on tourists? radar and gets a steady flow of visitors round the year. But that?s not the only claim to fame for the second largest city in Tamil Nadu. The IT boom has touched this temple town too, with Honeywell?s Research Lab (tied to the Thiagarajar Engineering ...
More About: Estate , Real Estate , Chennai , Real , Hots

60 Acres may be freed up for Real Estate Development in Bandra
2008-04-26 08:23:00
With Mumbai grappling for additional land for expansion, the city?s western suburb Bandra could see availability of close to 60 acres of real estate for development. The residents of the Maharashtra government?s employee staff quarters have suggested that government redevelop the colony spread across 96 acres. The residents association has suggested the government to ...
More About: Estate , Real Estate , Development , Real

Mahindra?s Jaipur SEZ to become partly operational from July
2008-04-26 05:13:00
The Special Economic Zone being developed by Mahindra ’s at Jaipur will become partly operational in July with first group of clients moving in, a top official said on Friday. Mahindra Lifespace Developers, the real estate and infrastructure development arm of the USD 6 billion Mahindra group, has also started buying land at Karla, near Pune, ...
More About: Special Economic Zones

Double Whammy for High-End Luxury Realty Market
2008-04-25 08:44:00
THE high-end luxury real estate market is facing a double whammy. The demand from domestic buyers has already dried down and now even non-resident Indians (NRIs), who constituted a significant market for luxury real estate developers, are developing cold feet. ?With the US property market witnessing a correction due to subprime crisis, the NRIs are ...
More About: Luxury , Market , Double , High , Realty

23 big firms eye Thatipur realty project in Gwalior
2008-04-25 07:55:00
As many as 23 big real estate firms are eyeing the Thatipur project in Gwalior, Madhya Pradesh. Reliance, DLF, Parsvnath and Gammon are in the fray to bid for the mega project, of which the bid submission will end on May 7. The MP government has not set a reserve price for the project. The ...
More About: Project , Realty , Firms

Commercial Development of Vacant Railway Land
2008-04-25 04:32:00
The Ministry of Railways have set up Rail Land Development Authority (RLDA) by an amendment to Railways Act, 1989 (Amendment No. 47 of 2005) for commercial development of vacant railway land for generating revenue. So far 115 sites, covering a total area of 1139 hectares (approx) have been entrusted to the Authority for commercial development ...
More About: Commercial , Vacant