The board of approval, headed by commerce secretary G K Pillai, will also consider requests from realty major DLF for de-notification of its IT-ITeS SEZs in Gujarat, Haryana, West Bengal and Orissa. Larsen and Toubro has proposed to set up an IT SEZ in Mumbai, while Gulf Oil Corporation has moved application for a similar tax-free zone in Bangalore.
A majority of big real estate developers in India today said they are insulated from the financial crisis in Dubai and it will not have any impact in the country's property market.
The Foreign Investment Promotion Board (FIPB) has cleared global hospitality major Hyatt group's proposal to set up 'Hyatt Place' hotels in the country in a joint venture with realty firm Emaar MGF, with an investment of about Rs 125-150 crore (Rs 1.25-1.5 billion).
It also signed a 24:76 joint venture agreement with Delhi-based real estate company Emaar MGF for building six hotels under the upper mid-segment brand Hyatt Place. Both companies will invest $200 million into the project. The first of the Hyatt Place hotels will be launched by 2011. The remaining 14 hotels will come up under the Park Hyatt, Grand Hyatt and Hyatt Regency brand names. The new properties will recruit staff in excess of 7,000.
For instance, in the last quarter of the previous financial year, Emaar MGF sold 650 flats, priced at Rs 48-80 lakhs (Rs 4.8-8 million), in its Gurgaon project within a day of launch.
Global trend has affected Indian markets too, as two reputed IPOs were withdrawn due to lack of investor response.
Met with lukewarm response from a volatile market, Wockhardt Hospitals withdrew its IPO. It received bids only for 19.5%.
Dubai-based realty major Emaar is setting up a 100 per cent subsidiary in India, though it has an equal joint venture with Delhi-based MGF, a real estate developer and financier.
Tania Wadhwa finished tied 23rd -- best show by an Indian -- to be adjudged the best amateur, while French woman Gwladys Nocera survived compatriot Virgine Lagoutte-Clement's late charge to lift the inaugural Emaar-MGF Ladies Masters in Bangalore on Saturday.
Golf Course Road in Gurgaon symbolises smart new India like almost everything does in this Haryana boom-town. Swish, glass-cladded IT, ITeS offices; big, and bigger, malls; and a series of premium, gated residential complexes along the broad, dusty avenues here -- DLF BelAir, Parsvanath PrideAsia, EmaarMGF's Palm Springs, etcetera, etcetera. It is thus only fitting that something called "Street of Dreams" should be located along this road.
The MGF Metropolitan Mall and DT City Centre Mall were completely evacuated by the district police in Gurgaon as part of the mock drill, which began on Friday afternoon.
There seems to be no respite for primary markets as initial public offers (IPOs) continue to get a tepid response from investors. The latest example is Emaar MGF's mega IPO, which has not just been extended by five days, its price band has also been revised once again. The issue will now close on February 11, according to investment banking sources.
The world number four will be on the prowl in the Asian Tour and European Tour co-sanctioned event in India hoping to chalk up a win at the historical Delhi Golf Club.
Former Asian number one Jeev Milkha Singh, making an appearance at the EMAAR-MGF Indian Masters this week, says golf in India will continue to be the fastest growing sport with the inclusion of top class events in the country
The pairings for the Indian Masters challenge match are: Ernie Els and Arjun Atwal; Mark O'Meara and Jeev Milkha Singh and Darren Clarke and David Howell.
Emaar MGF's IPO got subscribed 12% in the first two hours of opening of the issue.
DLF, Unitech, Emaar-MGF and the Ambience Group are in race to build the largest mall.Delhi and its suburbs are witnessing a race without a finishing line - the rush to build India's largest shopping mall. The players are the top names in the real estate business - DLF, Unitech and Emaar-MGF.
The government ban on external commercial borrowing, or ECBs, for integrated townships has shut off a staggering $12 billion that was to be raised for integrated townships, reports CNBC-TV18.
A sustained two-digit average rate of return on capital accrued by developers is indicative of India's "build" momentum
Having made public its tie-up for a retail venture, the Bharti-Wal-Mart combine is roping in leading realty majors like DLF, Emaar MGF, and Ansals for handling the massive real estate requirements of the project.
Volatility in the secondary markets has forced some initial public offers to revise their price bands as markets continue to be plagued by liquidity problems.
Wockhardt Hospitals has reduced the price band of its upcoming IPO, following the volatility of the stock market.
10 malls expected to go off business this year
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
Property sales have been sluggish and the sector has been facing headwinds. So, firms are in wait-and-watch mode.
As per the norms, sanction for prosecution has to be decided within four months time of the CBI seeking such a permission.
These restaurants should be on your bucket list this winter!
The case is understood to be related to the alleged irregularities in land allotment in 2009, sources said.
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Nearly 40 developers participating in HDFC Indian Homes Fair in London would showcase thousands of property.
Increase in service tax would make properties costlier to buyers.
Shift to new business model to help companies cut capital cost, increase margins.
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ITC, Infosys, Wipro and HDFC Bank among the major losers.
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