Indian Real Estate

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International Real Estate transactions dip 46%
2008-07-23 08:36:00
Credit crunch and economic uncertainty have taken their toll on the global property market, with transaction volumes falling by 46 per cent in the first quarter, according to a property report. Investment throughout Asia and other emerging markets continued to grow, as sales of major commercial properties globally totalled $154 billion (Dh565bn) in first quarter against ...

Baby Donald Trump Launching an Indian Real Estate Fund
2008-07-23 08:24:00
Donald Trump Jr. is planning a real estate hedge fund focusing on luxury properties in India. The son of famed real estate developer and media personality Donald Trump will raise as much as $1 billion for the privately-held fund, Bloomberg News report. Analysts expect property prices in the subcontinent to drop by about 20%, creating opportunities ...

LIC Housing to enter Venture funding
2008-07-22 08:02:00
LIC Housing Finance, the mortgage arm of Life Insurance Corporation of India (LIC), is set to foray into the venture capital arena and intends to start a Rs 500 crore real estate fund by the end of this financial year. LIC Housing Finance is reportedly scouting for a banking partner for raising capital and will soon ...
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Ranchi: Steeling up for Industrial Push
2008-07-21 07:59:00
Ranchi, once the summer capital of unified Bihar, is still a favourite destination of many people, especially those in search of peace of mind. The city, with a population of over 15 lakh, still attracts people because of its comparatively pleasant climate and good schools. It has all the indicators of a modern city but ...
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Private Equity Firms Build up on Indian Realty Firms
2008-07-19 10:18:00
Real estate and infrastructure management sector saw Private Equity (PE) deals worth $2.32 billion in the first half of 2008, nearly three per cent higher than the year-ago period, even as the average deal size fell over nine per cent reflecting the sluggishness in the market. According to Grant Thornton, 33 deals were inked in the ...
More About: Build , Realty , Firms

Pradeep Jain to tie up with Sabeer Bhatia
2008-07-18 12:25:00
Over a year ago, Pradeep Jain , the 43-year-old chairman of Parsvnath Developers Ltd, was gung-ho about the Indian property market. Asked about the slowdown in the property market, Jain countered by wanting to know a single property whose price had actually fallen. Of course, today things are markedly different and prices have fallen, but that ...

Retail Industry Going Slow on Recruitments
2008-07-18 10:26:00
The hiring frenzy that India’s booming retail sector witnessed in the last two years appears to be cooling off, particularly at the middle and senior management levels. Recruitment firms suggest that the April-June quarter has seen a slowdown in hiring at senior levels as most retailers already have their middle and senior management in place ...
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Retail Industry Going Slow on Recruitments
2008-07-18 10:19:00
The hiring frenzy that India’s booming retail sector witnessed in the last two years appears to be cooling off, particularly at the middle and senior management levels. Recruitment firms suggest that the April-June quarter has seen a slowdown in hiring at senior levels as most retailers already have their middle and senior management in place ...
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India?s Unitech Realty Fund raises $300 mln
2008-07-17 12:06:00
A realty fund launched by India’s No. 2 listed developer, Unitech Ltd, has raised $300 million from international investors for the firm’s projects, a company spokesman said on Thursday. “This is the first tranche. Another $300 million will be raised by September,” the spokesman said. He declined to name the investors. The Economic Times newspaper, citing an ...
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India?s Beaten Property Sector May Now Offer Some Bargains
2008-07-17 11:55:00
Amid the debris of a battered Indian real-estate sector, some analysts say investment bargains may be emerging. Their favorites: blue-chip property companies DLF and Unitech. This has been a miserable year for Indian property stocks. Rising inflation and interest rates have delivered a double whammy: Capital is more expensive, and consumers are scaling back spending. “The real-estate ...
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Saffron aims Leading Place in Realty Funding
2008-05-26 10:31:00
India-focused real estate private equity firm Saffron Group today said it has chalked out a two-pronged strategy to become a leading player in the burgeoning market staying put for a minimum of five years in upcoming properties and buying out assets with assured rental income. The Group, a brain-child of Ajoy Veer Kapoor and his peers ...
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Enticing Buyers with Freebies
2008-05-26 10:28:00
Stung by the bearish realty market, which is reeling under a price correction, real estate developers are now unleashing discounts, freebies and innovative schemes to lure buyers into residential space. Consider these: TDI is offering a free international trip for its Kingsbury Luxury Apartment buyers; Ansal Buildwell has advertised an inaugural discount on its project ...
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Lohia Group to Invest Rs 350 cr in Real Estate Projects
2008-05-26 10:24:00
Amidst correction in the country’s real estate scenario, diversified business house Lohia Group is planning to invest up to Rs 350 crore in developing three projects in the National Capital and Uttar Pradesh by 2011. The group’s subsidiary - Lohia Developers Pvt Ltd plans to develop two townships in Lucknow and Moradabad, and a commercial complex ...
More About: Projects , Estate , Real Estate , Real , Invest

LIC to Buy Land Worth Rs 2,000 cr
2008-05-26 10:19:00
Life Insurance Corporation of India (LIC), which is among the largest property owners in India, is planning to acquire land worth Rs 2,000 crore this year to develop commercial and residential complexes. This will be in addition to the Rs 1,100 crore it spent last year for purchasing lands across the country. The public sector insurance ...
More About: Kolkata , Worth , Land

Aamir Khan Ready to Pay Rs 33 cr for Mumbai Property
2008-05-24 07:16:00
Bollywood star Aamir Khan has plans to buy a residential society in Mumbai for his personal studio. Reports say the actor-director has offered to shell out Rs 33 crore for the society, Vrindavan, in Santacruz. Aamir Khan Productions has approached the owners of the society to buy the 22-apartment complex. Aamir’s willing to buy each flat at Rs ...
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Agra getting a Massive Makeover
2008-05-24 07:15:00
Agra is getting a massive makeover and coming out of the time warp to embrace modernity, replete with marvelous shopping malls, resorts, townships and commercial centers. Keeping pace with the private sector, the Agra Development Authority (ADA) has charted out an expansion plan with a new 4,000-acre hi-tech township of international standards on the outskirts of ...
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?Leander Sports? ties up with Omaxe
2008-05-23 12:17:00
Ace tennis player Leander Paes today joined hands with real estate developer Omaxe Ltd to design and manage fitness centers in latter’s five townships in North India. ‘Leander Sports ’, the company promoted by Paes, today signed a memorandum of understanding to provide the concept and design of health clubs, spas, meditation centers, yoga cells, gyms, sports ...

Trent to Expand in Tier-II, III Cities via Franchises
2008-05-23 12:07:00
The delay in opening of malls, closure of retail complexes and surging property rentals, among others, have prompted Trent , the Tata Group’s retail company, to opt for the franchise route to open its Westside chain of department stores in tier II and III cities. Under the franchise deal, Trent will own and provide the stock ...
More About: Delhi , Cities , Tier

Leading Bahraini Islamic Bank to Invest in Indian Real Estate Sector
2008-05-23 11:58:00
Khaleeji Commercial Bank, one of Bahrain’s leading Islamic banks, has announced that it has raised $163.5 million of equity from investors across GCC for Danat India Investment Company that will invest in a real estate development project in the vicinity of New Delhi, India. Ebrahim H Ebrahim, CEO and Board Member, Khaleeji Commercial Bank, said, “We ...
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Guardian Lifecare to Invest Rs 100 crore for India Expansion
2008-05-23 11:54:00
Guardian Lifecare, the country’s second largest retail pharmacy chain, plans to go into an expansion mode. The company intends to open 150 new stores across the country. Guardian is all set to raise funds worth Rs 100 crore for the planned expansion. Ashutosh Garg, Chairman and Managing director, Guardian Lifecare, said, “Major expansion plans are on ...
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Hunter Beer Maker Joins Realty Play with Madhya Pradesh Land Buy
2008-05-23 11:50:00
The Bhopal-based Som Distilleries and Breweries, manufacturer of the Hunter beer, has acquired a 50-acre prime plot in Gwalior for Rs 266 crore from the Madhya Pradesh government. The company will develop a retail mall, a theme mall and two hotels ? a star hotel and a budget hotel ? as well as residential apartments, ...
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Indian Builder Provides Real Estate in Dubai
2008-05-23 11:40:00
India’s second-largest developer, the Mumbai-based Lokhandwala Infrastructure has made its way to Dubai as Lokhandwala Builders International where it builds, wheels and deals some of the city’s most sought after real estate. Dubai’s booming real estate industry has attracted investors from the expatriate community and especially Indian and Pakistani natives with British or U.S. citizenship who ...
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SC dismisses DLF?s plea, asks it to Execute Agreement
2008-05-22 08:35:00
The Supreme Court has dismissed real estate major DLF Univeral Ltd’s plea challenging Monopolies and Restrictive Trade Practices Commission’s order asking it to execute an agreement for setting up a nursery school in Gurgaon, Haryana with certain changes. A bench comprising Justices S B Sinha and L S Panta recently stated, while upholding the MRTPC’s judgement, ...
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At Rs 1.2L/sqft, Vinod Khanna sets Realty Record in Mumbai
2008-05-22 08:29:00
Little Gibbs Road at Malabar Hill is a charming, up market residential enclave where the crème de la crème live, virtually cut off from the hustle and bustle of a congested Mumbai . On Tuesday, one of its most prominent landmark buildings, Il Palazzo, created a national record after an apartment here was sold at an astonishing ...
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Peninsula Forays into Hospitality
2008-05-21 11:29:00
Peninsula Land, the property development arm of Ashok Piramal Group, today announced its foray into the hospitality sector with a joint venture with textile maker and real estate developer Arrow Webtex. The JV will develop business hotels across the country. The foray comes months after the company exited its retail business, Pyramid Retail, in December 2007. ...
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Sun Group to Invest Rs 550 cr in Mohali
2008-05-21 11:27:00
UK based Sun Group has firmed up plans to invest Rs 550 crore in the real estate sector of Punjab. “Initially, the company would set up multi facility project which will involve setting up of hotels, multiplexes and malls in the Mohali district,” said a senior official of Punjab Industries Department. A high level delegation from ...
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Milestone to Invest Rs. 1,200 crore in Tamil Nadu
2008-05-21 11:25:00
Milestone Capital Advisors, an independent venture fund with focus on real estate, has decided to invest up to Rs. 1,200 crore out of its total domestic outlay of Rs. 2,250 crore for affordable and green housing and warehousing in Tamil Nadu . Addressing a press conference here on Monday, Ved Prakash Arya, Managing Director, said the ...
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Real Estate MFs to Draw in More Foreign Money
2008-05-21 08:15:00
Some things make the Reserve Bank of India (RBI) paranoid. The invasion of foreign money in the Indian property market has always been a familiar theme that rang alarm bells on Mint Street ? the central bank?s headquarters. Whenever it sensed an alarm, the regulator moved in to clamp down on such money flows. Even foreign ...
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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.
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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...
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