Almost a year after launching its Rs 1,000-crore (Rs 10-billion) domestic fund, ICICI Venture, one of the largest private equity firms in the country, raised Rs 200 crore (Rs 2 billion) last week, according to sources privy to the development.
Cap in single-brand retail likely to be 74%.
Amrop believes the economic slowdown will not have a long-term impact on its business, but maybe on technology.
Home sales continue to show declining trend in cities such as Mumbai and national capital region because of high home loan rates and property prices.
"I do not think prices can come down because costs are high. We have not seen any decline in prices so far, says Adi Godrej"
When Kishore Biyani- led Future Group opened the 200,000 square feet Home Town store in Mumbai's Vikhroli early last year, it became a symbol of the group's giant-sized ambitions in home solutions.
In India, these global retailers exported goods worth $725 million in 2010. Modern retail constitutes 6.5 per cent of the $435-billion overall Indian retail market.
Residential sales have declined 60-70 per cent in Mumbai due to high property prices and rising interest rates.
The officials say no "concrete move" has yet been taken to take the matter to the Union cabinet for approval after the recommendation of the Committee of Secretaries (CoS) on July 22 to allow 51 per cent FDI.
Ventures in areas such as insurance, financial services and logistics valued at Rs 4,500-5,000 crore ; company in talks with PE giants KKR and JP Morgan.
Unitech has already tied up with hospitality chain Carlson for the Gurgaon property, and with Marriott for both the Noida and Kolkata hotels.
DLF is to divest non-core assets, including hotels and plots of land, but not Hilton JV, Delhi Aman.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
After approving 51 per cent FDI in multi-brand retail, the CoS is said to have suggested stringent conditions for foreign retailers such as minimum investment of $100 million.
Early signs show firms rather lukewarm on entry; global economic climate, riders to FDI opening may be dampener.
With the American economy still recovering with the market reaching full potential, US companies like Abercombie is planning to tap emerging markets for luxury buys.
A Central Bureau of Investigation (CBI) official said the agency would soon call Malaysian businessman T Ananda Krishnan for questioning. Maxis is part of the business empire of Krishnan, who is expected to soon fly to New Delhi.
Ananjan Mitter, partner at ALMT Legal, a law firm, has represented Air Charter Service in the venture's application to the Foreign Investment Promotion Board, a key wing in the finance ministry that vets foreign direct investments proposals of companies.
The saga of buying out high-end office space in Mumbai continues. In a latest development, Mumbai-based education company, Core Projects and Technologies, is in talks with the leading plastic goods maker Supreme Industries to buy out the office property developed by the latter in the Andheri area of Mumbai. The deal could be worth Rs 350 crore (Rs 3.5 billion) in value, said sources close to the development.
Brotin Banerjee, managing director and CEO of Tata Housing, shares the company's plans and strategy with Raghavendra Kamath.
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