Tata Housing Development Company Ltd today said it will invest Rs 2,000 crore (Rs 20 billion) in the next three years to build a luxury housing project in Gurgaon and also announced its plans to foray into the overseas market this fiscal.
Slump in realty market to add to woes, debt of top players likely to rise 15-20% this financial year
What has brought back buyers this time is the fact that prices are much more reasonable than in 2006-07, when the same kind of apartment would have had an asking price at least 30 per cent higher.
The firm bought the 87,444-sq ft feet property -- 22, Hanover Square -- from Scottish Widows Investment Partnership (part of Aberdeen Asset Management), which had put the building up for sale in April through consultancy firm H2SO.
Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj, tells Business Standard that high prices and hardening of mortgage rates may act as a dampener.
The Air India building has 22 floors overlooking the Arabian Sea. Many floors are already leased out to other companies and it represents one of the costliest commercial real estate in both the city and the country. Air India made losses of Rs 5,000 crore (Rs 50 billion) in 2008-09.
While Delhi, home to 22,000 millionaires and 18 billionaires, has a total wealth of USD 450 billion (Rs 30,15,000 crores), Bengaluru boasts of a total wealth of USD 320 billion (Rs 21,44,000 crores). The city is home to 7,500 millionaires and eight billionaires.
The government approved 17 foreign direct investment proposals on Tueday involving total inflow of Rs 122.3 crore (Rs 1.22 billion), including that of First Flight Couriers and Carlson Hotels.
In just three years the online real estate portal has managed to raise about Rs 270 crore.
Emerging out of the ED grilling in Mumbai, Rohit Pawar denied any wrongdoing and asserted struggle was imminent in fight for ideology while declaring he wasn't scared.
It is raining private equity funds in the logistics and warehousing space.
Failed attempt to acquire stake in Kolhapur-based bank seen as trigger.
Bengaluru-based developers, such as Puravankara Limited and Sowparnika Projects, have witnessed over 85-90 per cent of their customers being first time buyers or end users.
The property development division would build the integrated commercial complex at Seawoods railway station, Navi Mumbai over 40 acres of land. The proposed project is expected to be completed over the next five years, the company added. Once this project is commissioned, L&T would develop in-house capabilities to build and operate such transit oriented developments around railway stations.
Mumbai-based real estate developer, Royal Palms, is developing Mumbai's first Gem & Jewellery Special Economic Zones on a private land at an expenditure of Rs 400 crore.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Insurance Regulatory and Development Authority (IRDA) on Thursday said ten new players have applied for licences to enter into this fast growing sector.The Shriram group, Ranbaxy-promoted Religare Securities and real estate major DLF, have sought regulatory approval for entering the insurance sector, Muralidharan said.
"Our extensive research reveals that as the real estate sector's growth continues to improve, the country will witness a supply of 138,000 residential units in 2010, 57 per cent more than the supply seen in 2009."
'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
Sports academies are catching the fancy of astute businessmen. Wizcraft International Entertainment, an event management and entertainment agency, plans to rollout around 8 sports academies with an outlay of nearly Rs 200 crore (Rs 2 billion). The non-sport company will panout the eight academics across eight cities - Delhi, Mumbai, Bangalore, Hyderabad,Kolkata, Pune, Goa, Chennai - in a phased manner beginning early 2008.
The Bombay high court on Wednesday stayed the demolition process initiated by the BMC for illegal construction at Ranaut's bungalow and sought to know why did the city civic body enter the property when the owner was not present.
The Enforcement Directorate, probing the case, has claimed Yusuf had assisted Mirchi in buying properties in India using money earned through illegal activities.
What should the government do to avoid a recurrance of last week's administrative lethargy in Mumbai? Readers tell us.
Property developers, consultants and brokers have seen a 40 per cent decline in enquiries from home buyers over the last three months.
According to industry estimates, around Rs 8,000 crore of real estate projects covering over 40 million square feet are facing delays.
The warrants have been made out for the arrest of Parkar, her bodyguard Mohammed Shamim Khan, driver Salim Ahmed Sayyed, and builders Arshad Shafi Shaikh and Maqsud Fakir Mohammed Ansari.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
In May last year, Peninsula forayed into the hospitality sector with a joint venture with textile maker and real estate developer, Arrow Webtex. The JV planned to build hotels in Mumbai, Pune, Nagpur, Nasik and Kolhapur in Maharashtra. There were also plans to develop hotels in Ahmedabad, Surat, Jamnagar, Mundra port, Goa and Kerala.
Bahrain Bay Development, a futuristic residential and commercial project, has signed a letter of intent with an Indian consortium to develop a $150 million project within the Bahrain Bay masterplan.
'For them life is very difficult since there has been no universalisation of PDS.' 'And let's understand that there are people who need ration instead of cooked meals.'
According to Jones Lang LaSalle's March Global Market Perspective, the stock of commercial property in major cities such as Delhi and Mumbai are forecast to expand by 50 per cent in 2009. 'Tier I cities in the emerging markets of China and India are facing a situation of major oversupply and also are likely to witness significant falls in rentals this year as vacancy levels climb...,' the report said.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
Hiranandani is planning to set up a 250-acre multi-services SEZ in Hyderabad. They have tied up with city-based Lahari Infrastructure Limited, in a 50:50 joint venture.
What should you expect in the coming year if you have still not bought a house for yourself? More importantly, once you arrive at the 'buy' decision, what should you keep in mind while striking a deal? Read on. . .
After its Rs 462-crore (Rs 4.62 billion) initial share sale, the real estate developer Godrej Properties on Tuesday said it plans to raise around Rs 3,000 crore (Rs 30 billion) through debt or equity to fund its expansion plans over the next two-three years.
The central probe agency is looking at Kundra's purported dealings with Ranjeet Bindra and a firm called Bastian Hospitality in connection with this case.
