10.25.06 (12:05 pm)   [edit]
New Delhi-based Global Infocomm is planning to open 600 real estate showrooms at a cost of Rs 120 crore. Of the 600 real estate showrooms, 70 will be set up in Uttar Pradesh with an investment of Rs 15 crore.

SK Jain, managing director, Global Infocomm Ltd, said the property shops were places where people could buy, sell or rent properties instantly.

Jain said the company planned to open a countrywide chain of property shops, starting with 16 in Delhi and the NCR, Lucknow and Kanpur by December. Agra and remaining districts of UP would follow by the end of next year

The 1,000-sq ft showrooms would have a five-star ambience and a centralised presentation system. Jain said the property shops would be interlinked through a VPN network to the company portal “Jaaydaad.com”, which would serve as a centralised database of all the hot properties listed at the 600 property shops for sale or rent.

Through these property showrooms, he said the company was aiming to create the "largest organized marketing network" in real estate India.

10.18.06 (9:34 am)   [edit]
The Central Government has approved 22 foreign direct investment (FDI) proposals worth Rs. 896.25 crore, the largest chunk of Rs. 511.50 crore being accounted for by the Singapore-based Solitaire Capital Investments in real estate.

According to the proposal approved by Finance Minister P. Chidambaram on the recommendations of the Foreign Investment Promotion Board (FIPB), Solitaire Capital will accept contributions on a repatriation basis into a venture capital fund for making these investments. Among other proposals, the next major proposal in terms of FDI pertains to the Mauritius-based Bijlee Bharat Holdings, which plans to bring in Rs. 307.94 crore to set up a wholly-owned subsidiary in Hyderabad for investment in multiple power plants. NSK Limited of Japan has been allowed to set up a new joint venture in Chennai to manufacture magnetic clutch bearings and ball bearings with an investment of Rs. 41.25 crore.

Lladro Commercials S.A. of Spain has been permitted to bring in Rs. 5.85 crore for hiking its equity stake in Spa Agencies (India) from 26 per cent to 49 per cent.

Apart from Lladro, the Finance Minister approved two more proposals pertaining to the retail sector. While the Sri Lanka-based Damro Exports Pvt. Ltd.'s proposal to sell furniture under the single brand name of `Damro,' Rino Greggio of Italy plans to set up a joint venture for selling silverware and other allied products. The Alpha Airport group of the U.K. also received the Government's nod to set up a wholly-owned subsidiary for setting up duty-free shops, flight kitchens and food and beverage outlets at airports in India.

Aircel Cellular Ltd. and Dishnet Wireless Ltd. have also been permitted to accord conformity approval to the acquisition of 73.99 per cent stake by the Mauritius-based Global Communications Service Holdings, which is owned by Maxis, a Malaysian telecom firm.

source: hindu.com

10.07.06 (1:19 pm)   [edit]

Vipul Ltd, one of north India's real estate majors, on Tuesday announced its plan to invest about Rs. 500 crore over the next 30 months to develop 290 high-end villas in Gurgaon, spreading over 52 acres. It is also venturing out of the North and looking at projects in the South and West. Officially launching `Tatvam Villas, which is part of the company's 150-acre integrated township on main Sohna Road, Gurgaon, Vipul's Director, Moti S. Masand, told reporters that the total project cost for developing 290 villas was estimated at about Rs. 500 crore, including the land cost, while the realisation through sales from this project would be around Rs. 750 crore.

Construction on the project would start from October and it was expected to be completed in 30 months. The size of the villas would range from 288 sq. yards to 960 sq. yards, while the cost would vary from Rs. 1.87 crore to Rs. 5 crore for each villa. About business activities of the company, he said it was now engaged in developing three integrated townships spread over 400 acres, one each in Gurgaon, Faridabad and Ludhiana.

IT SEZ in Nagpur

The company has plans to develop an IT special economic zone (SEZ) at Nagpur (Maharashtra) spread over 70 acres. The government has allotted land for the SEZ and construction is expected to start by December. Besides, it is coming up with a hotel-cum-mall project in Amritsar having a total area of 2.5 lakh sq. ft. and 7-lakh sq. ft. of office space in Kolkata. Vipul is planning to develop another 400 acre integrated township in Hyderabad.


09.21.06 (12:26 pm)   [edit]

The Reserve Bank of India has dealt a body blow to Corporate India’s rush for setting up special economic zones by treating lending to SEZs or acquisition of units in SEZs as exposure to commercial real estate. This will not only raise the cost of funds for SEZ developers, but also reduce the availability of funds.

Given the sharp rise in credit to the real estate sector, the RBI had in April increased the general provisioning requirement on standard advances to 1% from 0.4% and also hiked the risk weightage to such exposures to 150% from 125%. Many banks and housing finance institutions increased lending rates after the move.



09.12.06 (9:36 am)   [edit]

Contact Advertising Delhi branch has added two new businesses to its kitty. These are TCI (Transport Corporation of India) and real estate company Collage. And it is is estimated to be around Rs 10 crore.

The TCI business, put at about Rs 5 crore, has moved from Everest Brand Solutions.Meanwhile, the Collage Real Estate business was won following a multi-agency pitch. The other agencies in the fray were Dhar & Hoon and Publicis India.

  • This year, TCI has set two objectives for itself. The first is to promote the flagship brand TCI through corporate campaigns, and the second to promote its B2C brands, XPS and TCI Supply Chain Solutions.
  • The Collage real estate company also plans to set up10 family entertainment centres, spread across 5,000 sq. feet, in different parts of the country. The idea would be to offer a consistent experience across the malls, which Contract would have to emphasise, through the advertising campaigns.”



09.05.06 (3:42 pm)   [edit]

TCG Real Estate, one of the fast developing real estate companies in India, has embarked upon a unique plan for its upcoming real estate project in the Bandra-Kurla Complex. The company is developing a high-end office building at the Bandra-Kurla complex, covering an area of over one lac square feet. Bandra-Kurla Complex is now becoming the financial hub of Mumbai with most large banks having their corporate offices in the complex.

The work on the project, to be developed on the new concept called Boutique Office Space”, commenced today with bhoomi pujan. This will be the only project till date to be developed and targeted to a specific industry. The office building is targeted specifically towards investment firms such as private equity funds, venture capitals, foreign institutional investors and hedge funds.

 The investment market in India has grown by over 140 per cent in the last couple of years. Last year private equity firms invested about $ 2.3 billion in Indian companies compared to the $ 1.6 billion in 2004. In the first quarter of 2006 private equity funds invested $ 3.5 billion in India. The total FII investment in India till March 2006 has been $ 45 billion. There are currently more than 100 private equity and VC funds operating in India.


09.02.06 (10:59 am)   [edit]
(MENAFN) Middle East real estate giants are moving to the Indian shores, and Arab investors are tying up with major Indian real estate firms to grab a share of the billion-dollar industry, Khaleej Times reported.

Some of the large real estate developers in the Middle East, Emaar Properties, Al Ghurair Group's ETA Star, Al Rostamani Enterprises' KM Properties, Nakheel LLC, Dubai Properties and Kingdom Hotel Investments are betting big on India.

Their investment is literally going everywhere; hotels, malls, healthcare, housing, IT parks and integrated townships, in Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Bangalore, Goa and Rajasthan.

Emaar, the largest property developer, is one of the first to launch a project.

Emaar MGF Land Private Ltd, a joint venture between Emaar and MGF Developments in India, announced financial commitments amounting to $4.9 billion for 2006 of which Saudi Arabia, UAE and India have the largest share. India will get $629 million.

Source: http://www.menafn.com/qn_news_story_s.asp?StoryId=1093125613

09.01.06 (1:15 pm)   [edit]
Driven by positive growth in the economy, the property market in India is booming, report the IBEF.

The year 2006 started on a promising note when the Government of India opened the construction and development sector in February, allowing 100 per cent foreign direct investment (FDI) under the 'automatic route' in order to spur investment in the vital infrastructure sector.

The relaxation of the FDI ceiling saw big names like Dubai-based Emmar Properties - the largest listed real estate developer in the world - joining hands with the Delhi-based MGF Developments to announce India's largest FDI in the realty sector amounting to over US$ 500 million in projects having capital outlay of US$ 4 billion.

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