India Real Estate Tracker

DLF begins to sell land parcels

paragjani — Fri, 20 Nov 2009 12:40:31 +0000

DLF Ltd, India’s largest realtor by market capitalisation, has embarked on a land-selling spree. The company recently sold 500 plots of 200-400 yards in Indore, Madhya Pradesh, mopping up around Rs 110 crore at an average Rs 800 per square feet. More sales are being consummated, some in south India, which will garner slightly larger amounts [...]

Commerce firm on keeping SEZs out of direct tax code

paragjani — Fri, 20 Nov 2009 12:38:29 +0000

THE commerce department has opposed bringing tax-free special economic zones (SEZs) under the ambit of the proposed direct taxes code, arguing that it could hit the development of such zones and ultimately hurt exports. SEZ developers and units in these zones at present enjoy benefits under a special Act passed by Parliament and are spared from [...]

Corporates Strike Realty Deals In Bangalore

paragjani — Fri, 20 Nov 2009 12:37:33 +0000

DLF, Embassy & Prestige have divested land and property assets in the city. After a long slumber, Bangalore’s real estate market is ticking with big-bracket property deals. Corporates appear to be leading this trend of buying land and property assets from developers, who may be looking at such divestments to generate more liquidity into the system. At [...]

Mukesh Ambani mulls entry into low-cost housing

paragjani — Thu, 19 Nov 2009 12:25:28 +0000

After successfully dabbling in organised retail in 2006, Mukesh Ambani, chairman of India’s largest private sector company, Reliance Industries (RIL), has now set his eyes on no-frills, low-cost housing. The initiative, still on the drawing board, could be kicked off by 2010, reports Business Standard. An RIL official said the company would do large projects and [...]

Tatas to open 30 more Gateway Hotels by 2015

paragjani — Thu, 19 Nov 2009 12:22:49 +0000

Tata group-promoted Indian Hotels Company (IHC) is planning to open 30 more hotels of its mid-segment premium brand ‘The Gateway Hotel’ chain by 2015. At present, there are 20 Gateway Hotels across the country. “This is our upscale chain. We are planning to open 13 hotels by 2012 and then scale-up operations to 50 by 2015 across [...]

Lodha Group unveils phase II of luxury project

paragjani — Thu, 19 Nov 2009 12:19:26 +0000

Lodha Bellezza, a ‘By Invitation Only’ project of the Mumbai-based Lodha group, has announced the launch of the second phase of this super luxury project, consisting of two high-rise towers of 40 floors each. “With Lodha Bellezza, we bring to Hyderabad a thematic affiliation to California style living, sky villas,” said Abhisheck Lodha, director, Lodha Group. With [...]

NHAI identifies 10 mega projects worth Rs 45,000 crore

paragjani — Thu, 19 Nov 2009 12:16:36 +0000

The government has identified 10 lucrative mega highway projects to be awarded to private developers. These projects, involving investment of Rs 45,000 crore, will be awarded in the next two years. These projects covering 5,000 km will be awarded on a revenue-share basis, under which the developers pay a part of the toll earnings to the [...]

Godrej Properties may offer affordable housing at sub-Rs 15 lakh price points

paragjani — Wed, 18 Nov 2009 11:58:10 +0000

Godrej Properties, the realty arm of Godrej Industries Limited is extremely bullish on the affordable housing market in India. The company is mulling on the possibility of introducing housing facilities for the masses at price points below Rs 15 lakh per unit. Godrej Properties executive director Pirojsha Godrej told ET, “We would like to take a push [...]

Brigade plans budget housingBrigade plans budget housing

paragjani — Wed, 18 Nov 2009 11:55:41 +0000

Brigade group, Bangalore-based real estate developer, is testing the waters of affordable housing with ‘Brigade Value Homes’ which it plans to launch in Bangalore. The company is looking to invest Rs 2,000 crore on building compact residential properties in the next four years. The company will build low-cost residential projects on Kanakapura Road, Devanahalli Town, Mysore [...]

Mahindra Lifespaces launches a premium residential community at Mahindra World City, Chennai

paragjani — Tue, 17 Nov 2009 12:27:22 +0000

Mahindra Lifespace Developers today announced the launch of “Aqualily”, a premium residential community being developed within the Mahindra World City, Chennai’s most evolved and integrated city. Mahindra Lifespace Developers Limited (MLDL) is the real estate and infrastructure development arm of the $6.3 billion Mahindra Group. Model rendition of an Aqualily property “Aqualily” will be a perfect blend [...]

Althan, Khajod next in line for mega development

paragjani — Mon, 16 Nov 2009 13:49:15 +0000

SURAT: Twenty-first century’s first decade saw huge development in city’s Adajan-Rander and nearby areas. Althan and Khajod that saw very little by way of actual development have now begun to witness boom with real estate market shifting to the stretch towards Navsari. It is only natural that the new residential localities are set up on this [...]

DLF Developer Bangalore:DLF Westend Heights Bangalore

paragjani — Mon, 16 Nov 2009 13:42:15 +0000

DLF Westend Heights Projects: DLF brings its new residential project Westend Heights New Town in Bangalore. DLF Westend Heights New Town offers 2 & 3 bedroom apartments ranging from 1085 to 1820 square feet. It is G+19 storeys with excellent amenities. DLF New Town is a premium residential township with a appending Spanish style of architecture [...]

Godrej Properties Ltd launches its first residential project in Kolkata

paragjani — Mon, 16 Nov 2009 13:41:01 +0000

Godrej Properties Ltd launches its first residential project in Kolkata Chennai, November 5,2009: Godrej Properties RELATED ARTICLES Let’s not think stimulus will be withdrawn at once: Govt CMIE revises GDP growth forecast to 6.2% SFIO to begin probe into Satyam soon, says Khurshid Canon to buy Dutch Oce in $2.2b deal Cox and Kings fixes IPO price band at Rs [...]

TDR prices getting too hot for realtors

paragjani — Mon, 16 Nov 2009 12:42:57 +0000

Mumbai: As real estate prices increase across the city, the price of transfer of development rights (TDR), too, has started reaching for the sky. Going by TDR brokers, the increase has been particularly noticeable in the western suburbs. TDR prices have increased to Rs 2,700 per sq ft in Bandra to Santacruz, and to Rs 2,500-2,600 [...]

Samira Pavilions: A high end projects of 187 villas

paragjani — Mon, 16 Nov 2009 12:41:39 +0000

Alibag is a dream destination for the city it’s closest to — Mumbai. Ten minutes in a speed boat and you can hear birds instead of speeding cars honking, long branches of old banyan trees sweep the roads to welcome you to the idyllic, verdant world of Alibag. A place, which has been attracting some [...]

Now, towards ‘affordable offices’

paragjani — Mon, 16 Nov 2009 12:34:50 +0000

The last one year has been a revelation for the IT space developers and their tenants, the IT companies. The global economic slowdown woke them up as IT companies realised that the days of adding space irrespective of cost were over for good. Developers have realised that increasing lease rates of cash-rich IT companies could no [...]

DTC Plans To Come Up With Commercial Complexes

paragjani — Mon, 16 Nov 2009 12:24:17 +0000

The Delhi Transport Corporation (DTC) plans to develop commercial complexes like luxury hotels and restaurants at its inter-state bus terminals across the city. The transport department of the city government has already sent a proposal to the Union Urban Development ministry seeking its permission to use DTC bus terminals for commercial purposes. “We have sought [...]

Bank of Rajasthan slashes home loan rates to 7.50 per cent

paragjani — Sat, 14 Nov 2009 08:24:58 +0000

Bank of Rajasthan, one of the oldest, technology driven and customer friendly private sector bank, has announced reduction in interest rates on home loan under “Apna Ghar Scheme” with effect from 09.11.2009. Mumbai, Maharashtra, November 13, 2009 /India PRwire/ — The rates have been cut for the home loans up to Rs. 30 lakhs and over [...]

Realty developers avoid tier II, III cities, prefer Delhi

paragjani — Fri, 13 Nov 2009 10:46:17 +0000

With price corrections and softening of interest rates setting in, real-estate developers are keen on investing in Tier I cities, or metros such as Delhi, Mumbai and Bangalore. “Almost all realty developers are focusing back on Tier I cities as they believe that as of now, expanding to medium and small cities is on shaky [...]

Mahindra Residential launches premium villa project

paragjani — Fri, 13 Nov 2009 10:43:15 +0000

CHENNAI – Real estate developer Mahindra Residential Developers will construct 760 dwelling units comprising villas and apartments on an outlay of Rs.400 crore at Mahindra World City near here. “In the first phase, we will be building four types of villas numbering 150 units, and later construct 610 residential apartments,” said Mahindra Residential executive director and [...]

Krishna Palace Residency plans two budget hotels in South India

paragjani — Thu, 12 Nov 2009 12:48:14 +0000

Mumbai-based Hotel Krishna Palace Residency’s Managing Director Krishna Shetty is planning to expand his hospitality portfolio in South India. As part of the expansion plans, two budget hotels will be developed in Mangalore and Udipi in Karnataka. Land parcels have been acquired for the same. The construction of the Mangalore property will begin in 2010 [...]

Bangalore realty sector fails to benefit from low-cost housing

paragjani — Thu, 12 Nov 2009 12:43:44 +0000

Bangalore: Bangalore’s real estate market continues to groan under the burden of unsold property and sluggish demand, even as a revival in property sales in other cities has encouraged developers to launch a slew of projects. Nearly one in every five homes scheduled for completion by the end of this year remains unsold, according to a [...]

Builders in IT hub to focus on middle, upper middle segments

paragjani — Thu, 12 Nov 2009 12:21:31 +0000

After almost a year of lull due to the economic downturn, the real estate sector in the country’s IT capital is slowly picking up and is all set to focus on the middle and upper middle segments, where it envisages huge potential. Customising their offerings, builders are keen to capture these segments, which are witnessing increasing [...]

High-tech townships back in vogue; developers & investors aim high

paragjani — Thu, 12 Nov 2009 08:35:49 +0000

A wave of technological innovation seems to be gripping the real estate sector. High-tech townships, which promise an advanced lifestyle for residents, are catching the fancy of many developers. Developers such as Omaxe, The 3C Company and The Chadha Group are offering such technologically advanced townships. But in what way are these really different from an [...]

Banks likely to continue same home loan interest rate

paragjani — Thu, 12 Nov 2009 07:54:45 +0000

THE RESERVE Bank of India has walked out from its year-long accommodative monetary policy but the leading public and private sector banks still want to continue their cheap home loan schemes. India’s largest lender the State Bank of India is looking forward to continuing its special home loan scheme after 7 November, when the bank is [...]

Villas and suites away from home

paragjani — Thu, 12 Nov 2009 07:53:51 +0000

The golf course is like a meandering stream, a narrow length that curves and cavorts mischievously across Manesar’s scrub countryside, its algae-green lushness dappled with shadows as hillocks and ponds rise and dip. This is the countryside as Graham Cooke sees it, ordered and lush and not anywhere remotely Indian. But then, this is the [...]

Birlas to foray into hotel industry

paragjani — Thu, 12 Nov 2009 07:31:38 +0000

KOLKATA: For the first time in their close to 100-year history, the Birlas are entering the hospitality arena. The Birla Group – a part of corporate folklore in the country, along with the Tatas – is going to set up its first hotel on a closed mill plot in Mumbai. Although the Birla empire – spread across [...]

Kotak plans to sell Nariman Point, Kalina properties

paragjani — Thu, 12 Nov 2009 07:19:00 +0000

Kotak Mahindra Bank plans to sell some of its offices in Mumbai’s central business district of Nariman Point and in the city’s western suburb of Kalina as it relocates staff to its new corporate headquarters at the Bandra Kurla Complex (BKC). The properties up for sale are around 12,000 sq ft on a floor in South [...]

Oberoi group to launch another Trident hotel

paragjani — Thu, 12 Nov 2009 07:04:31 +0000

MUMBAI: India’s third-largest hospitality chain, the Oberoi group, will be opening its second hotel in the city under the Trident name on December 17, the company said. The 436-key property, located within the Bandra-Kurla complex, will join the growing list of five-star hotels in north Mumbai. At present, there are around 18 hotels in north Mumbai [...]

IHC to set up new hotel in Bangalore

paragjani — Thu, 12 Nov 2009 06:51:06 +0000

London-listed hospitality and leisure company India Hospitality Corporation (IHC) will set up a new hotel in Bangalore next year and is close to raising funds worth Rs 1,000 crore for expansion of its hotel business. Ravi Deol, managing director – IHC, said, “In the next 12-18 months, we will be focusing on expanding our hotel business [...]

Duet India Hotels to invest Rs 2,300 crore to set up 5,000 hotel rooms in India

paragjani — Thu, 12 Nov 2009 06:43:06 +0000

According to a report in Business Standard by Swaraj Bassonkar, Delhi-based real estate investment company, Duet India Hotels will invest Rs 2,300 crore over four years to build 5,000 hotel rooms in India. The company, which will invest in mid-scale segment and five-star properties, has tied up with New York-based Starwood Hotels and Resorts Worldwide [...]

Bidadi township rises from ashes

paragjani — Thu, 12 Nov 2009 05:57:29 +0000

After killing an infrastructure project in Ramanagaram, the government is reviving another one in Bidadi, that was virtually dead. After DLF washed its hands of the mega Rs 60,000-crore Bidadi Integrated Township Project (BITP) on the outskirts of Bangalore, the government is set to revive it. A proposal by Bangalore Metropolitan Regional Development Authority (BMRDA) is [...]

Tatas to extend cheap housing to global market

paragjani — Sat, 07 Nov 2009 09:22:37 +0000

Encouraged by the good response to its affordable housing project from Mumbai, the Tata Group has decided to extend the concept in the international market. The group will take the project to other Indian markets as well. Tata Sons chairman Ratan Tata said the company is planning similar housing projects in other centres like Kolkata, Bangalore [...]

DLF to Build Rs 15 cr Flat in Delhi’s Posh Locality

paragjani — Sat, 07 Nov 2009 09:20:18 +0000

Real estate major DLF is coming up with Rs 15 crore flats in the posh Greater Kailash area, courtesy Municipal Corporation of Delhi (MCD), alleges Congress. Leader of Opposition in the Municipal Corporation of Delhi Jai Kishen Sharma has alleged that the civic body has “illegally” allotted the land meant for park and community centre [...]

Hero group in real estate with township project

paragjani — Sat, 07 Nov 2009 09:19:35 +0000

The Munjal family-controled Hero group, better known for its motorcycles, is entering the real estate business, with nearly Rs. 200 crore already invested. The cash-rich Munjals are turning the current slump in real estate into an opportunity as they had no previous exposure in the business historically marked by aggressively priced land deals. The Ludhiana-based group plans [...]

Investment in a second home

paragjani — Thu, 05 Nov 2009 12:12:17 +0000

According to a study conducted by Kapston.com, a Bangalore based e-business consulting firm, the sales of ’second homes’ in India increased by 50 per cent from 2002 to 2007, before the slump in the market brought the figures down to negligible. “Although the concept of second homes was accepted by the Indian audience, as the figures [...]

Home sales went up by 97% in September

paragjani — Thu, 05 Nov 2009 12:09:49 +0000

Mumbai: The sale of houses in Mumbai, which was plunging in the corresponding period last year, revived significantly in July-September. The figures are showing a drop again after realtors increased prices, data from the house registration department in the city shows. September saw a 97% jump in house registrations — which includes new and resold homes [...]

Home prices up in 15 cities, shows Residex

paragjani — Thu, 05 Nov 2009 12:04:24 +0000

The new index of residential price movement – Residex, released by the National Housing (NHB), shows a mixed trend among 15 major cities. As many as nine out of 15 cities, covered by Residex across the country, have witnessed hardening of residential property prices. Prices of homes have recorded a decline in cities such as Delhi, [...]

Mall vacancy in southern cities drops in July-Sept

paragjani — Thu, 05 Nov 2009 12:02:08 +0000

The average mall vacancy in the southern cities of Chennai, Hyderabad and Bangalore dropped to 5.7 per cent in the third quarter (July – September) of 2009 from seven per cent in the second quarter. However, supply in these three cities increased by one million sft, up 33 per cent from the second quarter, according to [...]

Sharp Drop in Kolkata Office Rentals

paragjani — Thu, 05 Nov 2009 11:56:08 +0000

If you had any doubts about new business ventures giving Kolkata the miss, here’s damning proof that should send the alarm bells ringing loud and clear. Vacancy levels have shot up with nearly a quarter of the available office space finding no takers between July and September. Though office space across the city has been [...]

SBI’s 8% Home Loan Scheme will End on November 8th

paragjani — Thu, 05 Nov 2009 11:55:14 +0000

The country’s largest lender, State Bank of India, will not extend its eight per cent home loan scheme, the cheapest in the country, beyond November 8. SBI had introduced its Happy Home loan scheme, that allowed the borrower to freeze the eight per cent interest rate for a year, in February this year. In August, [...]

SBI not to change home loan rates immediately

paragjani — Thu, 05 Nov 2009 11:45:46 +0000

MUMBAI: State Bank of India today said it did not have any immediate plans to revise its home loan rates, including that of the eight per cent special scheme originally slated to end this week. “We have decided to keep the rates at the same level in the immediate future (including the 8 per cent scheme). [...]

Tata Housing progresses into Phase II of Raisina Residency, launches Victoria in Gurgaon

paragjani — Wed, 04 Nov 2009 10:33:12 +0000

Delhi: Tata Housing Development Company, recently awarded the title of ‘Promising Future Company – Real Estate, 2009′ by GIREM, today announced the launch of ‘Victoria’, phase II of its premium and exclusive residential complex, Raisina Residency built on the theme of art and culture at Sector 59, Gurgaon. A total of 71 units comprising 3BHK [...]

CHD Developers launches Lifestyle GRAND at CHD City in Karnal

paragjani — Wed, 04 Nov 2009 10:31:27 +0000

New Delhi, November 2, 2009 – Sequel to the successful Launch of CHD Lifestyle -Stylish, Comfortable & Affordable independent floors which were sold out within just 6 weeks of its launch, CHD Developers Ltd, a leading real estate developer launched Lifestyle Grand, Comprising of 120 of Modern, Spacious & Majestic independent floors. The luxuriant and [...]

Builders revive stalled commercial projects on early signs of recovery

paragjani — Wed, 04 Nov 2009 10:30:11 +0000

Bangalore: Realty firms, encouraged by early signs of a revival in the market, are dusting off shelved or deferred projects and testing their financial viability to gauge which of these can be resurrected. Solid foundation: A commercial complex under construction at DLF Cybercity, Gurgaon. Developers who had shifted focus from commercial projects to residential sales during [...]

Home loan rates to harden as banks feel crunch news

paragjani — Wed, 04 Nov 2009 10:19:27 +0000

The days of cheap home loans are drawing to a close as the Reserve Bank of India prepares to harden its key policy rates. Large public sector banks, such as the State Bank of India and Punjab National Bank, are reportedly planning to withdraw the special schemes that offer rates as low as 8 per [...]

Recession good for property buyers

paragjani — Wed, 04 Nov 2009 07:44:06 +0000

The market may witness an over supply like condition in the affordable segment of residential real estate making prices range bound in times to come. Though the global financial crisis affected developers badly, it brought cheer to the middle class end users as builders were forced to bring down their units prices to the affordable [...]

DLF plans to make affordable homes

paragjani — Wed, 04 Nov 2009 07:37:40 +0000

New Delhi: India’s largest developer by market value, DLF Ltd, will now build apartments worth Rs30-50 lakh, a senior official said. The realtor plans to launch 3-4 million sq. ft of what it called value housing in the current fiscal to March, Saurabh Chawla, senior vice-president, finance, told analysts on a conference call on Friday. The projects [...]

Matrix Partners India invests Rs 47.34 cr in Siesta Hospitality

paragjani — Wed, 04 Nov 2009 07:16:42 +0000

Mumbai-based venture capital firm Matrix Partners India has invested around Rs 47.34 crore in Bengaluru-based Siesta Hospitality Services Ltd. Rishi Navani, Co–founder and Managing Director, Matrix Partners India said, “Siesta Hospitality has an innovative business model to address the hospitality needs of corporations.” Ashok Chattaraj, Co-founder of Siesta Hospitality declined to disclose the stake acquired but [...]

Taj, Radisson to open hotels in Amritsar

paragjani — Mon, 02 Nov 2009 13:06:37 +0000

To cash in on the growing demand of hotel rooms in Amritsar, not only local players but also major national and international hospitality chains are setting up new properties in the city. Among the prominent ones are Radisson, Holiday Inn and Taj Properties, according to sources. Experts in the hospitality sector say there is lot [...]