Monthly Archives: February 2013

Connectivity Makes Thane a Hotter Realty Destination

Thane in Mumbai; due to its overwhelming connectivity, has become one of the hottest realty destinations in Mumbai Metropolitan region.

The growth of Thane is mainly due to its increasing connectivity and infrastructure development. In fact connectivity has made it one of the best real estate destinations in Mumbai. Read More »

Most Expensive Office Locations: CP and BKC in, Nariman Point Out

Connaught Place in New Delhi and Bandra-Kurla Complex(BKC)in Mumbai are the two office locations in India which have found place among the most expensive office locations.

Two Indian locations have got a place into the list of most expensive office locations in the Asia-Pacific region. At least India will have something to be proud of this achievement of Connaught Place and BKC. Read More »

Dealings with Sahara? SEBI Warns the Public

After attaching the properties and the freezing their accounts, The Securities and Exchange Board of India (SEBI) asked the people not to enter into any dealings with the Sahara group.

A couple of weeks back, SEBI attached the properties of two Sahara Group firms. The attached properties include both movable and immovable properties.

Failing to comply with the order of Supreme Court, finally Sahara faced a freezing and attaching order from the market regulator. However the market regulator did not stop with the attachment order. But it continued to urge the public not to get in to any form of dealings with the two firms- Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd. Read More »

Infrastructure Status to Be Conferred On Housing Sector

With the aim to provide more affordable homes to the people the union government plans to confer infrastructure status to the housing sector.

The coming budget is believed to confer infrastructure status on housing sector. The budget session will also have the plan to implement the regulatory bill as well.

Conferring infrastructure status to the housing sector will be one of the main news in the upcoming budget 2013. The budget session of the parliament may also give nod to the regulatory bill too, to enhance the real estate sector. Read More »

HUDA Postpones Plot Allotment in Gurgaon

Leaving the proposed buyers to greater anguish and distress, Haryana Urban Development Authority (HUDA) postponed the plot allotment in Gurgaon.

The buyers’ wait gets longer and longer and there appears no end for the wait as Haryana Urban Development Authority (HUDA) has postponed the plot allotment for an indefinite period.

HUDA has not announced the new date on which it would allot the residential plots to the owners in Gurgaon. Though the buyers blame the development authority for postponing the plot allotment, they postponed the allotment only because the act was stayed by the Punjab and Haryana High Court. Read More »

Corporates Make Bigger Offices Their Headquarters

2012 witnessed many corporates shifting their Headquarters to bigger offices. Experts opine that this was mainly due to the fall of rentals in many of the cities.

As the rentals fall in many of the cities; mainly due to the sluggish realty market, many Corporates have shifted their headquarters to some bigger and better offices. Corporates aim at experiencing better amenities and facilities in their new Headquarters. Read More »

BMC Announces Increase in Water-Supply In Mumbai

In a move to take away the overburden from the shoulders of city residents, BMC has announced an increase in the water supply in the city. The BMC move may boost the construction sector.

Last year, builders had to cop up with the lack of water for construction purposes. This year the builders expect that the situation will be better for them as the Brihanmumbai Municipal Corporation (BMC) has announced an increase in the water supply. Read More »

Budget 2013: Home Buyers Look Ahead Hopefully

Once the Union Finance Minister has hinted on some special provisions for the affordable housing subdivision in the Budget 2013, home buyers look ahead with lot of hopes and dreams.

Owning a home is always been a dream for everyone and in the same way they look at the yearly-budget for having some provisions that will improve their chances of owning a home. However the Budget 2013 is expected to be a housing sector friendly as it will contain some special provisions to the housing sector.

Budget 2013 is highly expected to be a realty sector- friendly budget. Some special provisions; which will boost the construction sector, will be included in the Budget 2013. Read More »

GMR Likely To Sell Its Chennai Technology Park

Prominent infrastructure development company GMR Group is likely to sell Cognizant Technology Solutions, its Chennai Technology Park, for Rs.150 Cr.

Prominent infrastructure development company GMR Group has revealed its plans to divest its technology park in Chennai. The technology park; located on Old Mahabalipuram Road (OMR), one of the prime IT hubs in the city, is expected to be sold for about $30 million (approximately Rs.150 Cr). Read More »

Mumbai Should Review FSI Policy: Recommends Maken

Union housing and poverty alleviation minister Mr. Ajay Maken recommended that Mumbai must review the existing FSI policy so as to make sure that the city is meeting the increasing housing demand.

Mumbai has been one of the major cities in India where the housing demand has seen no boundaries and limits. Despite all the tremendous efforts by the builders, the city still has many homeless millions. Viewing their plea and struggle to attain a home in the city, Union housing and poverty alleviation minister (MHUPA) Mr. Ajay Maken recommended the Mumbai Development Authority to consider reviewing the floor space index in the city. Read More »

Realty Sector Wants Cost Of Finance to Be Lowered

Realty sector hopes that upcoming budget by the Finance Minister will cut down the costs of finance for the construction boosting realty sector.

As Finance minister is likely to announce the new Budget on February 28, realty players demanded that the cost of finance should be lowered for the construction sector. If the cost of finance is lowered, realty sector will be boosted.

Real estate sector looks forward hopefully at the finance minister’s upcoming budget which will be submitted on February 28. Finance minister has already hinted that the upcoming budget will be real estate-friendly as it may include certain provisions that boost the realty sector. Read More »

Blackstone Likely To Buy Bangalore Business Park

America-centered private equity giant Blackstone is likely to buy Business Park in Bangalore. The deal is expected to be fixed at $367 million (Rs.19.5 billion approximately).

Blackstone, America-centered private equity giant is likely to buy Bangalore Business Park along with two Indian realty firms. The deal is expected to be set for a sum of $367 million. American private equity giant has entered in to talks and is likely to buy the Business Park. The deal is expected to get over within two or three months’ time.

Once the deal is fixed for Rs.19.5 billion, it will be the largest ever private equity investment in India after 2008. HDFC and Embassy Realty group are the other two Indian real estate firms which will have equal investments in the project.

Vrindavan Tech Village is set up in the Special Economic Zones (SEZ) of Bangalore, in the outskirts of Bangalore. The persons with direct knowledge of the move revealed that the deal is not finalized so far.

The Business Park which was built by Singapore-based realty firm Assetz Property Group spreads over 106 acres. In its 20 acres, around 1.9 million sq. ft. of office spaces is developed. Global and well-reputed companies such as Cisco, Nokia and Sony Corp have occupied offices in this project.

Embassy has plans to develop residential projects in around 30 acres and in the rest of the land the group plans to develop about 5 to 6 million sq. ft. of office spaces as well.

Blackstone is majorly a private equity firm and real estate is not the core business of the firm. In fact real estate makes only one-fourth of the total assets of the firm. Yet this was one of the most successful businesses of the group and a notable percentage of its total profit was from their real estate business.

As Assetz Property Group, Blackstone and Embassy Realty refused to comment on the development further details, including the accurate financial details, about the development are not available.

TVS Enters Real Estate Business; Project Launched in Chennai

Leading auto and two-wheeler developers TVS Motors has entered into the real estate business. TVS group has launched their first residential project in Chennai.

By launching their first residential project in Chennai, TVS Motors; a leading auto and two-wheeler developers, has entered real estate business. As their stepping stone they have developed a residential project in Chennai. However this has been considered as one of the major expansion policies of the group. Read More »

DLF Plans To Raise Rs.2100 Cr Through Institutional Placement Program

DLF, India’s largest real estate developing firm, plans to raise Rs.2,100 Cr through institutional placement program (IPP). DLF plans to sell nearly 8.1 Cr shares to raise the amount.

DLF is all set to raise a huge fund through institutional placement program – market system in which the stakes of the seller-firm are sold to some qualified institutional buyers. Under this scheme the real estate major will sell around 8.1 Cr shares of the firm. Read More »

Ahmedabad Development Authority Raised FSI By 30%

Ahmedabad Development Authority (AUDA) recently announced its new Development plan. The new development plan by AUDA has raised the floor space index (FSI) by 30%.

Ahmedabad Development Authority; raising the floor space index last week, paved the way for more vertical real estate development. As per the new development plan, the FSI is raised by 30 % in the city. The newly revised FSI rate will be applicable in 68 villages of Ahmedabad. Read More »

Realty Sector Saw Faded Interest Of Private Equity Firms

Realty sector in India witnessed a deep fall in the investment by Private equity firms in 2012. Realty sector currently faces faded interest of private equity firms.

A leading global accounting firm Grant Thornton reported that the private equity firms have lost their interest in the realty sector and infrastructure. In 2012 nearly $ 7.4 billion was invested by the private equity firms. Compared to the $ 8.8 billion private equity investment in the year 2011, the investment of 2012 is lower. Read More »

Walmart Reluctant To Enter; Blames States’ Veto Power

American retailer Walmart and the government of USA have conveyed their anxiety over the veto power of the states on foreign direct investment.

By providing veto power to the states, the Union government of India had said that the act will support the states to have absolute control over the foreign investors. The entry of foreign retailers, like Walmart, will be dependent on the decision of the state government.

The new policy of the union government permits foreign retailers to own and set up shops in India. However the union government is blamed for conferring veto power to the states. The state governments are given absolute power to deny or permit the foreign retailers in their state. Read More »

Property Prices To Stand Stable; Fall Seems Unlikely

Property prices will remain stable in the Indian market for a quite long while as there is no chance for any price-fall in the near future or around.

Real estate experts opined that there will not be a fall in the property prices in the near future. Though they opined that there will be no fall in the near future, it seems that there will never be a fall in future.

All odds seem stand against the prospective buyers as there is no chance for a fall in the property prices. It is really a piece of bad news for the buyers. Yet they may be interested to know why and how the property prices will remain stable. Read More »

AIG Global Aims Residential Development; Buys RMZ’s Stake

AIG Global, a New York-centered private equity giant, has purchased RMZ Corp’s 50% stakes in their Hyderabad mall project.  The private equity giant plans to turn the mall project to a residential project.

AIG Global; after gaining Bangalore-centered real estate group RMZ Corp’s 50% stakes, has now plans to turn the stalled mall-cum-office project into a residential project. The mall-cum-office project, which was supposed to be finished by the first quarters of 2012, has been stalled due to some undisclosed issues. Read More »

India Homes Fair To Be Presented In Muscat By HDFC

Aiming to offer best opportunities to the NRIs to own a home back in India, HDFC Ltd presented India Homes Fair, a property fair in Muscat. The two-day fair took place on January 31 and February1.

HDFC Ltd, one of the premier Indian housing finance companies, conducted a two day property fair, titled India Homes Fair, in the Hotel Muscat Holiday.  The property fair; in which 32 renowned and well-reputed Indian developers showcased their projects, remained one of the biggest property events in Muscat. Read More »

Foreign Investors Expected To Invest More In India

Jones Lang LaSalle predicted that this year India will have more foreign investment. JLL reported that foreign investors are likely to enter India with huge investment plans.

Jones Lang LaSalle, one of the leading global real estate consultancy firms, reported that India will have greater amount of foreign investment in the forthcoming years. According to JLL foreign investors are seeking for a chance to enter the realty market of India. Read More »