Real Estate & Construction News in India from Propertyshowrooms.com

Scomi Bags RM 2 Billion Mumbai Monorail Project

Fri, 17 Oct 2008 00:00:00 GMT

MUMBAI, Oct 17 (Bernama) -- Scomi Engineering Bhd, with its consortium partner, Larsen & Toubro (L&T), have won the bid to build the estimated RM2 billion Mumbai monorail project -- the company's maid...

Burj Dubai to be tallest in the world

Wed, 3 Sep 2008 00:00:00 GMT

Dubai: The developer of a Dubai skyscraper set to become the tallest building in the world says the rising tower now stands at a “new record height” of 2,257 feet or 688 metres. Emaar Properties says the skyscraper, know as Burj Dubai, now has “more than 160 stories.” Its exterior is almost done and work has...

PBEL India plans Rs 1,200-cr project in Hyderabad

Mon, 25 Aug 2008 00:00:00 GMT

Hyderabad-based property developer PBEL India is building a township in the city at a cost of Rs 1,200 crore. Named PBEL City, the township will comprise 13 residential and two commercial towers. PBEL City, a joint venture between PBC and Electra Real Estate, both from Israel, and Incor from India, will come up in Rajendranagar on...

Monsoon Woes for Mumbai Buildings Or Same Old Story

Mon, 18 Aug 2008 00:00:00 GMT

A common problem found in new buildings in Mumbai these days is that of leakage. This is a problem that used to be traditionally found with old building as they begin to weaken...

Magic Hills Residences to finally get under way

Fri, 15 Aug 2008 00:00:00 GMT

Sternon Real Estate and Garnet Construction yesterday said that construction on Magic Hills Residences, their upscale township for non-resident Indians (NRI) in Navi Mumbai, will begin in October, with the first phase to be ready in 18 months...

Private developers need to buy 70% land for SEZs

Mon, 11 Aug 2008 00:00:00 GMT

The policy framework of special economic zones (SEZs) are getting tweaked to meet the aspirations of all stakeholders. One of the latest regulations on the anvil pertains to land acquisitions. Following the recommendation by an Empowered Group of Ministers (EGoM), private developers should buy 70 % of the land at prevailing market prices with government acquiring...

Al Fara'a to launch projects in India

Wed, 6 Aug 2008 00:00:00 GMT

Al Fara'a Properties plans to launch three high-end properties worth more than Dh1.5 billion in India in the next six months the company's first venture outside the UAE...

Foreign architects make real estate projects attractive

Wed, 30 Jul 2008 00:00:00 GMT

In their bid to score over their rivals, many developers are now going abroad to hire noted architects who can design their new projects. Not withstanding the fact that currently the realty sector is seeing downward trend, still some of the noted design companies from other countries are opening their Indian offices to cater the...

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...

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...

Indian firm eyes 10-fold annual growth in UAE

Tue, 22 Jul 2008 00:00:00 GMT

Indian construction firm Navayuga Engineering Company, which is handling a Dh35 million project for piling and foundation work in Abu Dhabi, expects to grow its business in the UAE 10 times by year-end, a senior official said...

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...

A calm life in Palm drive

Thu, 17 Jul 2008 00:00:00 GMT

After stressful office hours and traffic jams, all one wants to do is relax and unwind in the confines of one’s home. Keeping the requirements of stressed out executive in mind, Emaar MGF has come out with a residential project that promises to provide a cocoon. Palm Drive, the residential complex claims to offer contemporary living...

QVC Realty to launch first project in Bangalore soon

Thu, 17 Jul 2008 00:00:00 GMT

Bangalore: The real estate sector, which experienced an unprecedented growth over the last three-four years, will go through some consolidation over the next year or two,” said Mr Prakash Gurbaxani, Founder and Chief Executive Officer, QVC Realty. He said that supply was increasing now across asset classes, and business was becoming more competitive. “In such a...

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...

Get your estate planning done

Wed, 16 Jul 2008 00:00:00 GMT

Everyone worries about securing their own future besides the future of their successors. Real estate planning is gaining popularity these days as people realise the benefits and the need of it. Estate planning involves more than merely making a will. It involves strategically arranging one’s investments in assets in such a way that returns are...

Developers cutting out frills

Wed, 16 Jul 2008 00:00:00 GMT

Developers resigned to the increasing costs of construction are now hoping to save on expenditure to protect their margins. The easy option of passing on additional costs to the buyers is now not available in the face of slow sales of residential units across most cities. With the prices of major inputs, including cement, steel, aggregates...

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...

Pune bucks the trend

Tue, 15 Jul 2008 00:00:00 GMT

At the end of May, the Magarpatta Township Development and Construction Company announced a spanking new housing project on Sinhagad Road, an area that, till not so long ago, was referred to as ‘city outskirts’. A month on, the first phase of 5,800 apartments, of 20,000 planned, is fully sold out. Ditto the case with other...

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...

India’s first solar powered housing project sold out

Mon, 14 Jul 2008 00:00:00 GMT

These may not look like conventional homes but are fitted with all the modern amenities. And a lot more. The lily pool in front of each house looks pretty but serves a more serious purpose. The breeze flowing over it cools the house on entering it through a natural draft circulation process called the chimney effect. Installed...

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...

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...

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...

Real estate slowdown hits cement companies

Mon, 7 Jul 2008 00:00:00 GMT

Higher input costs, low market valuations and scaled up capacity amidst reduced demand is likely to take its toll on the cement industry. The growth rate of the industry is projected to drop below 10 per cent for the current fiscal. According to a report by Edelweiss Research, weak fundamentals and mounting cost pressures are likely...

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...

Satyam promoters’ firm to develop Bangalore township

Sun, 6 Jul 2008 00:00:00 GMT

Maytas Properties Ltd, a real estate company floated by the promoters of Satyam Computers, is in the process of acquiring land in Bangalore to develop a residential township. The company is also planning to launch four other projects in Chennai, Vizag and Vijayawada, this fiscal. Speaking to FE, K Thiagarajan, chief executive officer of the company...

Location Advantages

Thu, 3 Jul 2008 00:00:00 GMT

Sky rising towers, state-of-art malls and people in white collars thronging its streets… this wasn’t the Lower Parel we knew a decade ago. From decaying chawls and dead mills, Lower Parel has today transformed into one of the most promising extended business districts in Mumbai in league with its counterparts like Nariman Point and Bandra-Kurla Complex...

Emaar MGF looks at pvt equity funding

Wed, 2 Jul 2008 00:00:00 GMT

New Delhi: Emaar MGF, a joint venture between MGF Development Ltd and Emaar Properties PJSC of Dubai, is open to private equity funding at the overall company level, even while it explores a 'tranche approach' for special purpose vehicle related financing. The real estate company had withdrawn its initial public offering following market turmoil earlier this...

Factory-built modular housing may soon catch on in metros

Wed, 2 Jul 2008 00:00:00 GMT

Factory-built modular housing seems to be the new buzzword for affordable housing in the real estate market in India as builders and international property consultants strongly feel that this may soon become a reality in overburdened metros. Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj told FE, “This kind of construction involves the use...

DLF to develop 8 shopping malls

Wed, 2 Jul 2008 00:00:00 GMT

New Delhi: Real estate developer DLF Ltd will develop eight shopping malls under leasing format in the metros this fiscal, besides commencing operations in four malls this calendar year. “We are thinking of launching seven-eight new shopping malls in the metros in this financial year,” DLF Retailing Developers Senior General Manager (Marketing), Mr Manish Sawhney, told reporters...