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Mangalore Special Economic
Zone sells over 82 acres to ISPRL
26 Mar , 2008
The Mangalore
Special Economic Zone Limited (MSEZL), which
acquired 1,800 acres of land through the
Karnataka Industrial Area Development Board
(KIADB) in Mangalore taluk, has sold a portion
of the land to a public sector crude oil
reserve for a whopping sum of Rs 50 lakh
an acre.
The MSEZL, which is the special purposes
vehicle for SEZ in Mangalore, has sold 82.62
acres of land for Rs 41.31 crore to a public
sector crude oil reserve. In fact, the 1,800
acres was acquired by the MSEZL for the
setting up of the first phase of MSEZ which
includes MRPL Phase III Refinery, Aromatic
Complex, Olefin Complex and allied infrastructure
facilities.
Source: www.indianrealtynews.com
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Noida
Invites Bids for Hotels Near Taj Expressway
26 Mar , 2008
Noida Authority
has invited bids to set up nine hotels near
the expressway being built to the Taj Mahal
in Agra. The Noida authority plans to set
up three 5-star hotels, two 4-star hotels
and four 3-star hotels.
The authority has set a reserve price of
77,000 rupees ($1,919) a square meter (10.76
square feet) and will open the qualification
bids on April 24. The plots for the five-star
hotels have an area of 24,000 square meters,
it said.
Source: www.indianrealtynews.com
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Rahejas to enter hospitality
sector with Indian Hotels
26 Mar , 2008
Delhi-based
Raheja Developers will foray into hospitality
sector with the Indian Hotels Company. The
realty player will develop six hotels in
four years.“While four of these will
be business hotels in Four-Five-Star category,
two will be budget hotels,” Navin Raheja,
MD, Raheja Developers.
Rahejas will develop only one stand-alone
hotel in Gurgaon while others will be part
of their shopping complexes. The investment
in the 300-room stand-alone business hotel
will be to the tune of Rs 150 crore (excluding
land price) with an additional cost of Rs
50 lakh for furnishing
Source: www.indianrealtynews.com
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Bombay
HC terms 1,000-acre land as forest
26 Mar , 2008
The court upholds
notices issued by state government in 1956-57
whereby huge tracts of land was declared
private forests and subsequently vested
with the government Hundreds of residents
and leading builders in Mumbai’s eastern
and western suburbs may be adversely affected
as the Bombay High Court has announced that
developments on more than 1,000 acres of
land in the region is illegal and falls
on the declared forest land.
Dismissing some 19 petitions filed mainly
by realty developers, Chief Justice Swatanter
Kumar and Justice S.C. Dharmadhikari upheld
the notices issued by the state government
in 1956-57 whereby huge tracts of land was
declared to be private forests and subsequently
vested with the government. In the year
2006, the Maharashtra Government had taken
back nearly 1,000 acres of land in Borivali,
Kandivali, Mulund, Thane and Ghatkopar,
claiming that it belonged to the state forest
department.
Source: www.indianrealtynews.com
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Middle East Realty
Giant Emaar Bullish about Indian Real Estate
26 Mar , 2008
UAE Property
major Emaar Properties has said that it
will reconsider its initial public offering
(IPO) in India “when the time is right”
though the company is bullish about the
trend in Indian real estate market.
In February, Emaar MGF withdrew its IPO
for lack of adequate response. The company
wanted to raise around Rs 6,500 crore on
the initial price band of Rs 610-690. This
was twice revised to Rs 530-630 and the
closing sdate extended to February 11 from
February 6.
Source: www.indianrealtynews.com
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India bulls to
Optimize Trumart Operation Through its Realty
Play
25 Mar , 2008
India bulls
are going in for a major restructuring of
the Trumart business model barely four months
after it acquired an 84 per cent stake in
Piramyd Retail. India bulls Director Gagan
Banga said the company is applying its real
estate skills to tighten the retail business.
“Retail is hardcore real estate business.
You need real estate and good supply chain
management; it is two businesses (combined)
into one. It’s a zero-intellect business,”
said Banga. “The largest real estate
player in the world is Wal-Mart, that’s
why it is the largest retailer.
Source: www.indianrealtynews.com
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New Airport to
Add to Hyderabad’s Brand Image
26 Mar , 2008
With the new
international airport commencing operations
near here, the brand image of Hyderabad
is to go up, attracting more investment
in IT, biotechnology and other industries.
The swanky Rajiv Gandhi International Airport,
which has come up 30 km south of the city,
is described as the new icon of this IT
hub, home to many software giants. If Hyderabad
IT and Consultancy (Hitec) City at the once
sleepy Madhapur village placed Hyderabad
on the world IT map in 1990s, the new international
airport is expected to transform the city,
especially the area off the highway linking
Bangalore into a business hub and attract
huge investments in various sectors.
Though some air passengers are complaining
of the long time they take to reach the
new airport (the older airport was in the
heart of the city), business leaders feel
the state-of-the-art and spacious facility
would help Hyderabad become a world-class
city. The Rs 2500 crore airport, on over
5,000 acres of land, became operational
Sunday, shifting all the operations from
Begumpet airport
Source: www.indianrealtynews.com
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More than 300 New Malls
by 2010: Retail Report
25 Mar , 2008
Some 330 new
shopping malls are expected to come up in
metros and so-called tier II and III smaller
cities over the next two years, forcing
developers to find innovative ways to attract
stores and maintain foot traffic from shoppers.
A report titled Upcoming malls—2008
and beyond, compiled by real estate consultancy
firm Jones Lang LaSalle Meghraj, says northern
India will lead the retail boom, with 136
new malls by 2010.
Source: www.indianrealtynews.com
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Textile City Bhilwara
gets a Realty Weave
24 Mar , 2008
Known for its
textile units, Bhilwara is attracting real
estate developers in a big way. Slowly but
steadily, the traditional city of Rajasthan
is donning a modern face. The sleepy town,
which once had only industrial buildings,
is getting ready for high-rise residential
structures.
Realty majors like Ansal Group, Manglam
and Essel Group fueled the property prices
in the city, which were on lower end of
the hyperbole, a year back. A leading property
consultant said “Developers and investors
were concentrating on top three cities of
the state - Jaipur, Jodhpur and Udaipur.
Now that there is a slowdown property market,
smaller cities like Bhilwara are hogging
the limelight. Here investment is not that
big and prospects are comparatively brighter.
People are not minding investing in real
estate in this textile hub,” he said.
Source: www.indianrealtynews.com
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30
Million for NRKs Welfare: Kerala Government
7 Mar , 2008
The government
of Kerala has declared a Non-resident Keralite
Welfare Fund, with a provision of Rs. 30m
in the annual State Budget presented by
Finance Minister Thomas Isaac.
Responding
to the long-standing demand of airlines,
Dr. Isaac reduced the tax on Aviation Turbine
Fuel (ATF) from 12.5 percent to 4 per cent
but it may not help NRKs since foreign flights
have already been exempted from the tax.
The allocation
of Rs 2m for an international youth festival
for NRI children and youth and Rs. 2.5m
for bringing back bodies of NRKs reflect
the overall welfare-oriented Budget.
Source: www.nrirealtynews.com
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Lucknow
Real Estate Gets NRI Attention
6 Mar, 2008
Property in Lucknow
is very much a sought after option for
NRIs in the Gulf," said Sushanto
Roy, head of Sahara Infrastructure and
Housing, a leading real estate developer
currently building several housing estates
in Lucknow.
"There is a large
population base of Lucknow working in
Dubai and Middle Eastern countries that
is looking for high quality life back
in their hometown. With profit overflowing
in this sector, a large number of NRIs
from Gulf countries are investing in residential
property in Lucknow in a big way as an
after-retirement option," he said.
Source:
www.indianrealtynews.com
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Punjab NRI
Sabha guarantees Complete Support to Govt
for NRIs Welfare
5 Mar, 2008
Kamaljit Singh, the Newly
elected President of NRI Sabha Punjab called
Punjab CM Parkash Singh Badal at his residence
on Tuesday morning and assured full support
and cooperation to the state government
for the welfare of the NRIs.
During
his discussion with the CM, Kamaljit Singh
appreciated Badal for organizing 2-day Punjabi
NRI Sammelan at Chandigarh and Jalandhar
on January 5 and 6 that evoked an over whelming
response from the Punjabis NRIs settled
across the globe.
Badal assured the President
NRI Sabha Punjab that the SAD-BJP Government
had already taken path breaking initiatives
for welfare of NRIs comprising setting up
of NRI Police Stations in six districts
of Jalandhar, Hoshiarpur, Kapurthala, Nawanshahar,
Moga and Ludhiana for the quick disposal
of cases involving NRIs and constituting
a high powered committee headed by the director
general of Police to review the cases of
NRIs who had been declared proclaimed offenders
or absconders.
Source: www.nrirealtynews.com
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BJETS Plans $900 Million
Investment in the Aviation Sector
25 Feb, 2008
Singapore based
company, BJETS, which is owned by Balaji
Ramamoorthy, a person of Indian origin planning
to pump in nearly $900 million (Rs 3,600
crore) to bring 100 business jets to India
for charter and fractional ownership business.
According to sources the company has wanted
permission to buy Business Jets India, a
company set up by the Ramamoorthy family,
for its Indian foray.
Source: www.nrirealtynews.com
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Realty,
Hospitality Sectors Attract (PE) Funds
25 Feb, 2008
With
IT projects taking a backseat on the investment
front, private equity (PE) funds are costing
up to residential, commercial and hospitality
spaces in South India.
Pragnya,
a Mauritius-based private equity fund focused
on the real estate market in India, has
so far invested about $40 million in realty
projects, including an integrated township
project by L&T in south India, and expects
its investments to reach $100-110 million
this year. It is also planning to come out
with a $150-million Pragnya Fund 2, which
will invest in realty and hospitality projects,
particularly in the South.
Source: www.indianrealtynews.com
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The Ever Growing
Indian Real Estate Sector
22 Feb, 2008
The ever increasing momentum
has paved the way for exciting opportunities
for both domestic as well as international
investors. The real estate industry has
multiple stakeholder's right from developers
to investors (including private equity funds),
financiers, buyers (including Real Estate
Investment Trusts) and service providers
such as property consultants, contractors
and project management companies. A typical
consolidation may be triggered by any of
these stakeholders.
Going
forward, we expect the Indian real estate
market to witness greater M&A activity
driven by consolidation and the growing
maturity of the market. This activity would
ideally be supported by requisite regulatory
framework and inherent attractiveness of
the real estate sector (which in turn is
based on sound market fundamentals and relatively
stable economic & political regime).
Source: www.indianrealtynews.com
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Healthcare
Sector: Emerging Real Estate Opportunity
22 Feb, 2008
The healthcare sector
is growing at an annual growth rate of 16
per cent and is expected to touch a turnover
of $ the 50.2 billion by 2011. It is estimated
that an investment of $77.9 billion will
have to be made in order to reach the optimal
target of 1.85 beds per thousand population.
Of this investment, $69.7 billion is expected
to come from the private sector.
Residential,
commercial, retail, and integrated townships
have for long been the hot favourites of
the Real Estate Sector. Real Estate developers
have been minting millions by investing
in these sectors but things can be a bit
different in future. Several new opportunity
areas are set to open up and one of the
most emerging Real Estate Opportunity for
the future can be the Healthcare Sector.
Source:
www.nrirealtynews.com
.....Read
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Ahmedabad
Hosts Infrastructure and real estate exposition
21 Feb, 2008
The booming capital of Gujarat, Ahmedabad
organized the Infrastructure and real estate
exposition recently. The programme was planned
by Gujarat Institute of Housing and Estate
Developers (GIHED). The exhibition involved
six core sectors: real estate, SEZ, township,
retail and specialty projects, infrastructure,
hospitality and education.
Speaking
on the occasion, Mr Nitin Patel, the Urban
Development Minister, Gujarat said, "It
is a proud moment for all of us in Gujarat
to be hosting India's largest real estate
and infrastructure exposition. This initiative
by GIHED will attract best leaders in infrastructure
and real estate sector from across India
to come and invest in the state. I welcome
all of you to be integral part of the new
and progressive Gujarat and India."
Source:www.indianrealtynews.com
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NRI Businessman
Buys Norway Shipping Company
21 Feb, 2008
NRI businessman S Sivasankaran has acquired
a Norwegian shipping firm, JB Ugland Shipping
(JBUS), for Rs 1,200 crore. Mr Shivkumaran
earlier gained popularity by selling his
telecom business Aircel to Maxis of Malaysia
for $800 million.
JBUS
is a Norway-headquartered shipping company
with a fleet of 40 owned and long-time chartered
vessels with an aggregate capacity of approximately
2 million deadweight tonnage (DWT). The
company's fleet consists of a mix of tankers
and chemical and bulk carriers. The fleet
has an average life of approximately four
years. It is also acquiring new vessels
which will be delivered in phases over the
next three years. The company's main operations
are centered in Oslo, Norway and Singapore.
Source:www.nrirealtynews.com
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NRI Organisation
Demands Fast Track Courts
20 Feb, 2008
A US-based NRI organization has demanded
fast track courts, specially to settle property
disputes in India. Gulf-based NRIs too have
raised this issue in the past to no avail.
If India
truly wants its Diaspora to develop a sense
of belonging and invest not just with their
hearts, but also with their heads then the
authorities here need to pay heed to such
requests. Getting embroiled in litigation
is one of the biggest threats for NRIs-
be it a family or a property matter. Courts
generally require the litigant to be physically
present for hearings which, for many NRIs,
is an almost impossible proposition. Add
to that all the mental harassment caused
by lawyers - even your own - and many overseas
Indians might think it better not to put
their heads out or their hands up when it
comes to investing in property.
Source:www.nrirealtynews.com
.....Read
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Reliance may join Hands with
Vornado for $1-b Realty Investment
19 Feb, 2008
Reliance
Industries is in advanced talks with the
New York-based Vornado Realty Trust, one
of the world's top five real estate asset
managers, to float a $1-billion plus fund.
The proposed fund will acquire and manage
properties, mainly in the retail space,
across India. People familiar with the development
said RIL and the New York Stock Exchange-listed
real estate investment trust (REIT) were
discussing the possibility of an equal joint
venture.
Source:www.nrirealtynews.com
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Mukesh
Ambani-led Reliance Group Plans a Splash
in Real Estate
8 Feb 2008
The Country's largest
corporate house, the Mukesh Ambani-led Reliance
group is all set to make a mark in the Real
Estate Industry. The Company has already
started its procedure of recruiting large
number of highly experienced professional
to work on its captive and independent projects.
The company
is in hunt of professional with at least
15 years of "hands on experience"
with major civil constructions, hotel chains,
interior designers, architects, real estate
developers as well as contractors and engineering
consultancy companies working in this field
for its real estate projects..
Source: www.indianrealtynews.com
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Indiabulls Real Estate Shares Rise by 4%
8 Feb 2008
With the recent acquisition of Catherine
Builders and Developers by Indiabulls subsidiary
Indiabulls Infrastructure, shares of Indiabulls
Real Estate has gone up by 4%. Indiabulls
has acquired Catherine Builders and Developers
from DLF Home Developers.
Catherine Builders owns 50 per cent stake
in Kenneth Builders & Developers, which
won at the auction by DDA to develop a residential
project on 35.8 acres of land located at
Tehkhand in South Delhi..
Source:
www.indianrealtynews.com
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Infinite India invests Rs. 600 cr in a Hyderabad
real estate company
7 Feb 2008
Nimesh Kampani's real
estate arm Infinite India Investment Management
has picked up a minority equity in Hyderabad-based
Maytas Properties, promoted by sons of Satyam
Group founder B Ramalingam Raju, for Rs.
600 crore.
The deal is Infinite India's
largest investment in India till date and
follows their recent commitment of Rs. 200
crore to a leading real estate player in
Kolkata. Infinite India Investment Management
is a joint venture between US-based SRS
Investments and the JM Financial group.
So far, Infinite has concluded eight real
estate deals in India.
Confirming the development,
Maytas Properties CEO K Thiagarajan said
a part of these funds would be used for
developing the next phase of Hill County,
which is Maytas Properties flagship project
in Hyderabad. Phase II of Hill County will
include a 9 million square feet of IT SEZ
and 28 million square feet of residential
development..
Source: www.economictimes.indiatimes.com
.....Read
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NRI
Plans to Open Rs 550 mn Hospital in India
05 Feb 2008
A NRI doctor has revealed his plans to establish
a Rs.550 million ($12 million) homeopathy
hospital, college and research centre in
Madhya Pradesh. Rabi Roy, the Germany based
met Chief Minister Babulal Gaur to discuss
his plans....
Source:
www.indianrealtynews.com .....Read
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The steep hike in steel prices has hit the
Hyderabad construction industry
4 Feb 2008
The steep hike
in steel prices has hit the Hyderabad construction
industry which is already struggling with
the problems following cement and land becoming
more expensive. Buyers may stay with flats
and houses becoming more expensive, the
industry fears. The state-owned Steel Authority
of India, Tata Steel, Essar Steel and Ispat
Industries on Friday hiked steel prices
up to Rs. 2,500 per tone. Cold-rolled steel,
which is mainly used by the construction
industry, now costs Rs. 38,000 a tonne.
Two months ago, it was available at Rs.
30,000 per tonne.
Steel companies
blamed the hike on the higher cost of raw
materials such as coal, coke and iron ore.
These have gone up nearly 22 per cent and
could rise further. According to Real estate
construction companies, steel accounts for
10 per cent of the total expenditure and
cement, seven per cent. A 50-kg bag of cement
now costs about Rs. 220. The AP Builders
Forum expressed serious concern over the
price hike and asked the government to take
steps to reduce rates. "Monopoly of
some companies will lead to collapse of
construction activity. Buyers will not come
forward if the cost of flats and individual
houses increase," said Mr. Yoganand,
general secretary of AP Builders' Forum.
Source:
www.maaproperties.com .....Read
More.
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