Before the globally-popular real estate mutual funds (REMF) take off here, RBI has raised a red flag. It has argued that the funds would lead to circumvention of foreign direct investment (FDI) in real estate that places limitations on foreign investors.
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Closed Mills Creates Additional Realty Space
July 14, 2008 – 6:01 am
The closing down of more than 20 textile mills and 15 manufacturing units in the country in the last 6-12 months has led to creation of a surplus supply of industrial real estate. With more than 20,000 workers in the textile sector now jobless, demand for space around industrial belts has slowed down, and more […]
Hotmail Allies With Parsvnath
July 10, 2008 – 5:31 am
The famed Nano City project of Hotmail man Sabeer Bhatia, is all set to get a partner soon and that will be realtor Parsvnath Developers. As Sabeer arrives in India on July 10, final decisions will be taken about handing over 30-38% equity stake in the project to Parsvnath Developers. A senior official of Nanocity […]
Government will scrutinize investments from tax-haven island nations
July 8, 2008 – 7:04 am
The government is planning to scrutinise investments flowing in from tax havens such as Andora, Aruba, Bahamas, Costa Rica and Dominica where investor details remain confidential due to banking policies. According to sources in the department of industrial policy and promotion (Dipp), the government is concerned about Indian residents parking money in the island nations […]
Cement Companies Affected Due To Real Estate Slowdown And Inflation
July 7, 2008 – 2:33 am
Higher input costs, low market valuations and scaled up capacity amidst reduced demand is likely to take its toll on the cement industry. The growth rate of the industry is projected to drop below 10 % for the current fiscal. According to a report by Edelweiss Research, weak fundamentals and mounting cost pressures are likely […]
Unity Infra Upcoming Project
July 5, 2008 – 6:01 am
Unity Infraproject has announced it’s FY08 results. Unity Infra project’s profit after tax (PAT) for FY2008 stood at Rs 600 million, up 42% from Rs 423 million in FY2007. EPS for FY2008 was Rs 44.9 versusRs 32.9 in FY2007, a growth of 36%. Out of the current order book, 56% pertains to government and 44% […]
UK’s Eredene Cap Picks Up 50% Stake In AILPL
July 4, 2008 – 1:15 am
UK-based Eredene Capital has picked up a 50% stake in Apeejay Infra-Logistics (AILPL), the infrastructure arm of Kolkata-based Apeejay Surrendra Group. The group is setting up a state-of-the-art logistics park in Haldia in West Bengal’s West Midnapore district. Eredene Capital has invested Sterling Pound 5.25 million or Rs 42 crore to pick up the 50% […]
DLF Board Of Directors To Approve Buy-Back Of Equity Shares
July 3, 2008 – 7:10 am
India’s largest real estate company, DLF Ltd, said on 02nd july that its board of directors would meet on July 10, to consider and approve a buy-back of equity shares. The buy-back proposal comes at a time when the company has seen a sharp erosion in its share price over the past few weeks. The […]
Real Estate Business In Kerala
July 2, 2008 – 4:45 am
Kerala, which has been recognized for its high human development but low economic growth, is now displaying a new phenomenon. Growth has picked up the pace since the late 1980s, as a result of economic improvement and a large inflow of remittances. The modern phenomenon of migration from Kerala to the Gulf countries and the […]
Five Million Tonnes Steel Plant In West Bengal
July 1, 2008 – 1:21 am
KOLKATA: JaiBalaji Steel, which is investing Rs. 16,000 crore to set up a five million tonnes steel plant in West Bengal, is set to begin construction by this year on its project located in Raghunathpur in Purulia, which is one of the backward districts in the country. Addressing a press conference here, Aditya Jajodia, Chairman […]
Unitech’s Annual Profit Loss Statement
June 28, 2008 – 6:02 am
Unitech Limited, India’s foremost Real Estate Company on 27 June 08 announced its audited consolidated financial results for the FY ended 31st March 2008. Total income rose by twenty six percent to Rs. 42,801 million, as against Rs. 33,881 million during the preceding financial year. Profit after tax (PAT) also jumped by twenty seven percent […]
Irish Life To Invest In Commercial Property In Asia and Europe
June 27, 2008 – 12:58 am
Investors in this country are known to have an appetite for exotic investments. Irish Life is tapping into this by giving investors an opportunity to invest in commercial property in Asia and Europe through two new funds from Irish Life — Eurasia Property Fund and Eurasia Property Plus Fund. Irish Life is partnering with Hendersons […]
Hi-tech City Project In Kochi
June 26, 2008 – 6:41 am
Kochi will soon get international status with the upcoming of hi-tech city project worth five thousand crore rupees. The Bangalore-based Shobha Developers have signed up a MoU with the state government for setting up this hi-tech city. Sobha Hi-Tech City will be an incorporated city with focal point on research and development, knowledge dissemination, information […]
Mittal buys 3rd property in Kensington Palace Gardens London
June 24, 2008 – 7:12 am
NRI steel tycoon Lakshmi Mittal has bought his third major property for seventy million pounds in Kensington Palace Gardens, London’s most expensive street. Mittal, whose fortune is estimated at twenty seven billion pounds, already owns two big homes in Kensington Palace Gardens where Princess Diana spent her last years. The most recent purchase of the […]
Dubai-based ETA Star Real Estate Firm Plans To Enter Asian Markets
June 24, 2008 – 7:11 am
Dubai-based ETA Star real estate firm plans to utilize its funds to develop 120 million square feet of land in India. Dubai’s ETA Star Property Developers mulls a fund of $400 million via Islamic bonds to enter Asian markets as diverse as India and Laos. The real estate firm is planning to utilize its own […]
Real Estate In Dehradun
June 20, 2008 – 6:39 am
Dehradun is the capital city of uttranchal. It is located amidst Himalayan ranges. That increases its beauty by many folds and delivers peace and tranquility to the residents. Currently real estate market in dehradun is pretty good with all top realtor firms entering the city. With top firms investing heavily in massive residential projects and […]
CHD Developers Will Invest 1000 Crore In Various Projects
June 18, 2008 – 4:51 am
Real estate developer—CHD Developers have firmed up plans to pump in Rs 1,000 crore into various projects over the next 3-4 years. The developer plans to raise the money from the market as well as plough back the profits. The company will be developing group housing projects as well as commercial complexes. “We have a […]
Goldman Sachs Picked Pinority Stake In Sterling & Wilson
June 17, 2008 – 12:27 am
Goldman Sachs, the global financial powerhouse, has picked up a minority stake in Sterling & Wilson, a Shapoorji Pallonji group company, for $50 million. No further financial details were available. Sterling & Wilson is one of the leading mechanical, electrical and plumbing (MEP) contracting companies in the country. It is one of those few companies […]
Realtors Eye Huge Profits From Reasonably Priced Housing
June 16, 2008 – 12:47 am
Reasonably priced housing, the most neglected segment of the real estate sector, is now magnetizing significant investments from developers plus private equity funds. While real estate majors like Ansals and Omaxe are planning low-budget housing projects in smaller towns and cities across the country, private equity players are firming up huge investments for this sector.
IPSL Signs MOU With Jharkhand
June 10, 2008 – 12:58 am
Indiabulls Power Services (IPSL), a subsidiary of Indiabulls Real Estate, has entered into a memorandum of understanding (MoU) with the Jharkhand government for setting up of 1,320 mega watt (MW) power project, a statement sent to the Bombay Stock Exchange said. In terms of the MoU, government of Jharkhand shall facilitate and extend all assistance […]
The EAAP Directory 2008
June 9, 2008 – 4:17 am
The Eaap Directory 2008 – published by the Estate Agents Association of Pune – was released previous week by Mayor Rajlaxmi Bhosle, Police Commissioner Jayant Umranikar and PBAB president Lalit Kumar Jain at a glittering ceremony held at the Corinthians Club.
Realty Feeling Heat Of Market Meltdown
June 7, 2008 – 12:02 am
The real estate sector seems to be at the receiving end of the market meltdown, with the DLF scrip ending below its issue price. For the first time after its listing, the stock of India’s largest real estate developer closed below its issue price of Rs 525 at Rs 519.95. Although it was closing at […]
