Real Estate & Commercial News in India from Propertyshowrooms.com

Ansal to invest Rs 500 cr in low-cost housing

Thu, 22 Jan 2009 00:00:00 GMT

Ansal API on Thursday announced an investment of Rs 500 crore in the next l8 months to develop 10,000 affordable homes, which are expected to be priced between Rs 2.5 lakh to Rs9.51akh. The housing projects are coming up in the states of Uttar Pradesh and Rajasthan in places like Lucknow, Agra and Meerut in UP...

Indian Property Developer Bailout Backfiring

Sun, 18 Jan 2009 00:00:00 GMT

A recent initiative by the Indian government to prop up property developers by allowing banks to restructure and extend loans is backfiring and turning into another fiasco...

Private cos to invest Rs 3,000 cr in Gujarat realty sector

Mon, 12 Jan 2009 00:00:00 GMT

Ahmedabad: Private companies will sign MoUs with the Gujarat Government to invest over Rs 3,000 crore in the realty sector in the areas under Vadodara Urban Development Authority, Vadodara Municipal commissioner Manojkumar Das said. He said the MoUs would be signed during the Vibrant Gujarat Summit to be held in Ahmedabad on January 12 and...

Three new schemes for Indian property investment developer

Fri, 9 Jan 2009 00:00:00 GMT

An Indian developer is starting 2009 on a positive note as it pushes ahead with three major new projects. Unitech Group issued a statement declaring it had now become India’s leading real estate builder with 22 huge residential schemes across the country. Its latest projects include Iconic Towers in the National Capital Region, Harmony at Uniworld...

Real Estate Developers in India Switching from Luxury to Budget Homes

Sun, 4 Jan 2009 00:00:00 GMT

Real estate developers in India have begun concentrating on budget homes instead of luxury developments...

Oversupply in commercial real estate may continue in 2009

Fri, 2 Jan 2009 00:00:00 GMT

Bangalore: The over-suppfly scenario that 2008 had witnessed in the commercial real estate space could well continue in 2009, says the annual year-end report by Cushman & Wakefield, real estate services firm. While some companies, which had committed to larger spaces earlier, have scaled down their absorption as a prudent step to mitigate the cost on...

Emaar, The Economic City awards SR325 million contract to Al-Radwan for building 134

Tue, 30 Dec 2008 00:00:00 GMT

Emaar, The Economic City, the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a SR325 million contract with Al-Radwan Contractors, a leading Saudi Arabian construction company, to build 134 villas within the Resort Cove. Mr Fahd Al-Rasheed, Board Member and Chief Executive Officer, Emaar.E.CEmaar.E.C, and Mr Abdullah Al-Radwan, Chief Executive Officer, Al-Radwan Contractors, signed the...

TPG to invest Rs 530 crore in Shriram City

Sun, 14 Sep 2008 00:00:00 GMT

Chennai: Leading global private equity TPG Capital will invest $120 million (Rs 530 crore) in Shriram City Union Finance, the consumer finance vertical of the Chennai-based Shiram Group. On Friday, Shriram Group and TPG Capital announced a definitive agreement under which the buyout firm would make the investment for acquiring up to 49% stake in Shriram...

Maharashtra Chamber of Housing Industry

Thu, 11 Sep 2008 00:00:00 GMT

MCHI-The only Official Body of Real Estate Developers In Mumbai. Maharashtra Chamber of Housing Industry (MCHI) - Is a representative body of leading developers engaged in housing and real estate developments. MCHI stands as a liaision between members and local authorities, Central and State Governments. MCHI members are accountable for supplying / providing 80 to 90%...

Dewan Housing arm lines up $ 250 million real estate fund

Thu, 11 Sep 2008 00:00:00 GMT

The fund will close in two tranches, with the first tranche of $ 100 million expected to close in two months. However, the company has not set any time-frame for raising the entire corpus of the fund. In addition, Dewan Housing Finance, the parent entity, is also looking to raise Rs 150 crore (Rs 1.5 billion) to bolster its operations. The fund-raising may also be in the form of equity dilution...

Committee inspects Tata project site

Wed, 10 Sep 2008 00:00:00 GMT

The Trinamul Congress has not budged from its demand that 400 acres of land be returned to them of which 300 acres must be culled from the Tata Motors Nano project precincts. Becharam Manna, another local Trinamool leader and also a committee member, claimed free land was available within the project premises...

No talk of returning 300 acre from project area: CPI-M leader

Tue, 9 Sep 2008 00:00:00 GMT

It was nothing but a figment of imagination, Konar, CPI-M central committee member, told reporters after the party's state secretariat meeting on Monday night. Ruling out conceding to any such demand, Konar said people would see through it if it was an attempt to sabotage the project...

JV Investment Boosts $3.4B India Mixed-Use Portfolio

Wed, 27 Aug 2008 00:00:00 GMT

In return for $126 million and change, Tel Aviv, Israel-based Elbit Imaging Ltd. has forked over part of its stake in a $3.4 billion mixed-use project portfolio in India via a new joint venture. It's a family arrangement, however. The investment comes from Elbit Imaging subsidiary Plaza Centers N.V., an emerging markets property developer focusing on projects in Central and Eastern Europe and in India...

Maha to levy additional stamp duty on property deals

Tue, 26 Aug 2008 00:00:00 GMT

Mumbai: The Maharashtra government is actively considering levying additional stamp duty on property transactions to raise Rs 350 crore for irrigation projects in the state. Talking to reporters after a meeting of elected representatives, called by the state government to discuss measures taken by the state government to combat drought, Deputy Chief Minister R R Patil...

Tropicana Eyes New Buyer for Indiana Casino

Tue, 26 Aug 2008 00:00:00 GMT

Casino Aztar in Evansville, Ind., is reportedly on the block again, but not necessarily to Eldorado Resorts L.L.C. Earlier this year, Casino Aztar owner Tropicana Entertainment L.L.C. agreed to sell the property to Eldorado for $220 million, but Tropicana filed for bankruptcy before the deal was closed...

Vornado Increases Presence in India with New $500M Retail JV

Thu, 14 Aug 2008 00:00:00 GMT

Paramus, N.J.-based Vornado Realty Trust has just formed a joint venture with Mumbai-based Reliance Industries Ltd. to acquire, develop and manage shopping centers in major cities across India. Vornado and Reliance will each contribute as much as $250 million to the partnership...

Tatas & Rahejas to invest Rs 500 cr in housing complex

Mon, 11 Aug 2008 00:00:00 GMT

New Delhi: Tata Housing Development Company and Raheja Developers have tied up to build a luxury housing project in Gurgaon in the next three years at an investment of Rs 500 crore. The project — Raisina Residency — spread over 11.73 acres, would be developed by the two companies in a 50:50 partnership. The total number...

Indian firm to invest Dh1.5bn in the UAE

Tue, 5 Aug 2008 00:00:00 GMT

BSEL Infrastructure Realty FZE, the fully owned subsidiary of the India's BSEL Infrastructure Realty Limited, will invest Dh1.5 billion in the UAE property market by 2010, with plans to launch a mixed-use project on the Waterfront in the next three months...

Red Fort Capital inks partnership deal with Godrej Properties

Wed, 30 Jul 2008 00:00:00 GMT

Red Fort Capital, a leading international real estate private equity fund firm, has signed partnership deal with Godrej Properties Limited, one of the leading real estate development company. The deal will mark Red Fort Capital’s entry in the Kolkata real estate market. The company has taken a 49% stake in an IT Park project named “Godrej...

Mahindras cash in on early SEZ appeal

Tue, 29 Jul 2008 00:00:00 GMT

Workers are putting the finishing touches to a five-storey building that will house a 3,200-seater BPO unit of lnfosys Technologies in the 2,500-acre multi-product special economic zone (SEZ), 21 km from the Pink City. Infosys has leased 200-acres in the 385-acre IT zone, which is sold out Fifty meters away at the SEZ’s technology park...

IVRCL Infra to sell costly land, buy low-cost plots

Tue, 22 Jul 2008 00:00:00 GMT

City-based construction firm IVRCL Infrastructure and Projects has plans to sell its high-priced pieces of land, including the 25-acre information technology special economic zone (SEZ) plot in Noida, and purchase low-cost property in the light of the downside in real estate business in the country. “With the real estate being what it is now, our first...

Omaxe to sell pie to PEs in mass-housing project

Tue, 22 Jul 2008 00:00:00 GMT

Omaxe Ltd, the New Delhi-based realtor, is in “advanced talks” to raise funds for its ambitious affordable housing project from private equity investors, a source close to the development said. However, the financial stake sale plan could not be ascertained immediately Omaxe did not immediately comment on the issue. “Omaxe is in talks with some PE...

Baani and Gowealthy.com launches iDubai

Tue, 22 Jul 2008 00:00:00 GMT

Baani Group, India-based real estate Development Company, has unveiled their maiden venture, iDubai, a 50-storey residential twin tower at Dubai Maritime City...

Private equity firms build up on Indian realty firms

Fri, 18 Jul 2008 00:00:00 GMT

New Delhi: 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...

Parsvnath picks up 38% stake in Nano City project

Thu, 17 Jul 2008 00:00:00 GMT

Real estate company Parsvnath Developers Ltd (PDL) on Wednesday announced that it has picked up a 38 per cent stake in Nano City Haryana Ltd, a proposed knowledge city project spread over 11,000 acres in Panchkula near Chandigarh. “We will be making an investment of Rs 400 crore as equity and debt. Parsvnath has acquired 38...

Hyderabad: Real estate hotspot

Wed, 16 Jul 2008 00:00:00 GMT

Hyderabad has yet another first to its credit. The city has become the first and favourite destination for several international players interested in real estate business. Over the last 12 to 18 months, the city has attracted biggies like Sunway Berhad, Malaysia, ACI Real Estate - an affiliate of German investment company Alternative Capital Invest...

Indian developers target booming Middle East realty market

Wed, 16 Jul 2008 00:00:00 GMT

With the construction boom in the Gulfmarkets, realestate majors in India such as Hiranandani Constructions, Sheth developers, Nahar Group and Damac Properties are planning to develop their realty business in multiple locations including Abu Dhabi, Ajman, Istanbul and Dubai. Indian real estate investors based out of the Gulf who have earlier invested in Indian properties too...

US real estate services firms on buying spree

Tue, 15 Jul 2008 00:00:00 GMT

Real estate services companies are buying each other even as the global credit crisis slows merger and acquisition activity in other sectors of the US economy. The firms, which help global companies locate, own, rent, buy and manage their real estate properties, also manage funds for investors in commercial real estate. Unlike other sectors, they have...

Ansal API launches hi-tech city project

Tue, 15 Jul 2008 00:00:00 GMT

New Delhi: Real estate company Ansal Properties and Infrastructure Ltd (Ansal API) on Saturday announced the launch of its hi-tech city project ‘The Megapolis’. The UP Government approved township adjoining Greater Noida would be spread over 2,500 acres and is extendable to about 9,000 acres. “The investment in the project will be close to Rs 13,600...

Sobha Targets Dh10b Portfolio in UAE

Fri, 11 Jul 2008 00:00:00 GMT

Indian developer Sobha Real Estate, whose annual turnover crossed Dh2.2 billion ($600 million), will increase its project portfolio by Dh2 billion to nearly Dh10 billion in two years, a top official said...

Servant quarters, not home for the poor

Wed, 9 Jul 2008 00:00:00 GMT

India’s largest real estate developer DLF has given a new definition to housing for the Economically Weaker Section (EWS). A senior company executive recently proposed to the urban development minister Jaipal Reddy (and was promptly snubbed) that servant quarters attached to high-end apartments should be counted as the developer’s contribution towards EWS, according to a...

Trikona Inks Deal for M-F Redevelopment in Mumbai

Wed, 9 Jul 2008 00:00:00 GMT

As part of its commitment, announced in late 2006, to invest more than $1 billion in slum redevelopment in Mumbai, India, Trikona Capital Ltd. of New York City has signed on for a $40 million middle-class housing project in Bandra, a residential area adjacent to Mumbai’s Central Business District...

Akruti City plans JV with Pacific Alliance Group

Tue, 8 Jul 2008 00:00:00 GMT

After having raised Rs 1,500 crore from private equity funds Citi Venture Capital International and AIG.the publicly listed Akruti City is now planning to form a 50:50 joint venture (JV) with USA-based Pacific Alliance Group (PAG) - an entity involved in construction apart from residential and townships development. Hemant Shah, chairman, Akruti City told FE...

Sobha gets $10mn FDI for housing

Tue, 8 Jul 2008 00:00:00 GMT

Sobha Developers on Monday said it has received $10 million of foreign investment for setting up a residential project in Bangalore. The company has received Foreign Direct Investment from Dubai-based Pan Atlantic LLC totalling $10 million for a 40 per cent stake in a Special Purpose Vehicle (SPV), Sobha Developers said in a filing to...

DLF plans Rs 800-cr fund for construction infra push

Tue, 8 Jul 2008 00:00:00 GMT

DLF is looking at setting up a Rs 800-crore venture capital (VC) fund with a mandate to invest in companies engaged in equipment management and construction activity. This is being seen as a strategic move by DLF to support its rapidly expanding construction activity. The Delhi-based firm has filed the documents with market regulator Sebi seeking...

TNHB stepping in to fill the gap

Mon, 7 Jul 2008 00:00:00 GMT

The Tamil Nadu Housing Board, the public sector agency, is active in housing and commercial projects after nearly a decade of dormancy. It is planning affordable urban housing for the middle-and low-income group. After going it alone in the earlier years, TNHB today is open to joint ventures with private developers for cost effectiveness...

Skyscraping bull run

Sun, 6 Jul 2008 00:00:00 GMT

In the past year, this company has done full justice to its name. Indiabulls Real Estate Limited (IBREL), with projects spreading over a total land area in excess of 10,000 acres, has taken a giant leap from rank 320 last year to the B&E Power 100 list at rank 83. It’s now one of the...

Trent to invest Rs 2,000 crore for 50 Star Bazaar hypermarkets

Sun, 6 Jul 2008 00:00:00 GMT

Amidst rising inflation and high real estate costs, the retail arm of the $9.7 billion Tata group, Trent Ltd, is setting aside a fresh investment budget to spearhead its retail expansion plans in India. Noel Tata, managing director, Trent Ltd told FE, “We plan to invest Rs 2,000 crore in setting up 50 ‘Star Bazaar’ hypermarkets...

DLF underlines India's woes

Thu, 3 Jul 2008 00:00:00 GMT

If investors in India's beleaguered stock exchange were looking for a sign of the times, they were provided with one this week by DLF, the country's biggest publicly listed developer...