Indian Property News on 'December, 2006'

NOIDA Property Bubble

A known part of the National Capital region, Noida enjoys the status of being the largest planned industrial city of Asia. For the last decade, a number of commercial spaces have come in here. Driven by an exceptional growth in the economy and large scale investments in IT, ITes, and BPO sector, real estate in Noida is ostensibly flourishing.

Noida boasts of a phenomenal demand for residential units, in addition to massive commercial and retail space demand. Adding to the demand for dwelling units in Noida is number of factors that include presence of world class brands like Ebony, Lee Cooper and Flying machine. The industrial city also features an array of happening places to hang around with Sector 18 known as the “heart of city” and often touted as the “South Extension of Noida”. Read More »

Real estate boom to mark another milestone in 2007

Thanks to the magnetic charm of Indian real estate that the booming sector has again fastened its seat belt to make another mark. As per the data showcased by studies conducted by Assocham (Highest body of the Chambers of Commerce of India), the property market is likely to attract foreign investments worth Rs 8,000 crore in 2007.

Transparency and the improvement shown by the real estate sector in 2006 have impressed most potential international investors who are waiting to establish their presence in the Indian property market, say the industry body. Read More »

Property Prices Soar in Chennai

Soaring prices of property in Chennai has forced property developers there to scout the city outskirts for new business prospects. The demand for dwelling units is shooting up as if there is no tomorrow. According to property surveys, Chennai will require at least 50,000 new homes by 2020.

With such a strong demand for houses, there is a stiff competition in the market which has spurred significant price and rent increases. Non residential activity is also at its best with demand for commercial and retail properties seeing appreciation. A square foot of space in the city’s upscale Pose Garden apartment now costs Rs.14, 500. Read More »

FDI in India on High Growth Path

Needless to say, Foreign Direct Investment plays a critical role to add to economic growth of the country. India has been rapidly stepping into a liberal mode from a restrictive regime. The country received high FDI in the year 2006, with equity inflows expected to cross $11 bn. The amount is believed to be twice of what has come last year, says data revealed by Commerce and Industry Union Minister Kamal Nath.

Mr. Nath also shed considerable light on India’s industrial policy and trade promotion took place during the year. Read More »

Real Estate Investments in Gurgaon

Gurgaon, a city in the northern eastern state of Haryana, has now become much famous as India’s Outsourcing Capital. The impressive growth that this cyber city has shown is hardly comparable with any of what its counterparts have accomplished.

Earlier, Gurgaon was known to be a sleepy town on the outskirts of the capital city. Today, the situation has largely changed with several big buildings and shopping arcades doting on this suburb which has witnessed a major real estate boom for the last few decades. Read More »

Indian Realtors Raising More Money Overseas

Growing by leaps and bounds, the booming Indian real estate has now succeeded in raising more equity money overseas as compared to the domestic market in the year 2006. The amount has been estimated to cross a whopping USD two billion.

According to the data showcased by London Stock Exchange’s Alternative Investment Market (AIM), 11 Indian property developers has floated on AIM in the past two years to satisfy their insatiable appetite for the booming real estate. The total amount raised by them was $1.25 billion. Read More »

The Largest Commercial Space to Develop On Noida Land

Demand for Noida land is likely to reach an all time high with the Noida Board planning to develop one of the largest commercial spaces in the region. Conglomerates, both Indian and Multinational, scouting for commercial spaces, would now breathe a sigh of relief as the industrial heart of Asia is all ready to welcome them with its arms wide open.

The project will take shape on 225 acres on the Noida-Greater Noida Expressway and the scheme will be launched in the month of January. The land is located in the sector 94 and 124. According to the estimates, the area will accommodate the construction of 6,000 offices, each of 100-200 square metre. Read More »

Income Tax Department Eye India Realty Pie

Indian real estate, the common hunting ground for potential investors and builders has now caught the attention of income tax sleuths who are all set with their dragnet for builders who have not paid their share of corporate tax.

Apart from conducting search operations, investigation wing of the IT department carries all the data regarding the investments made by these companies. This has resulted in considerable tax deposits by property developers. The Omaxe Group deposited Rs.30 crore as tax. The group had not deposited any advance tax by December last fiscal. Parsvnath Builders deposited Rs. 50.8 crore, as against Rs 9.5 crore during the corresponding period last fiscal. Read More »

Ansal Properties to Build Hi -Tech city adjoining Greater Noida

Ansal Properties & Infrastructure Limited (APIL), announced to develop a hi-tech city on 2504 acres of land adjoining Greater Noida. The proposed project will require an investment of over Rs. 20,000 crore. A Memorandum of Understanding has already been signed between the Government of Uttar Pradesh and APIL, who is serving as a prime consortium.

Heralding eighteen holes golf course to be designed by Mr. Martin Hawtree, who has designed over 750 golf courses worldwide, the city will also feature a number of sporting facilities including Mahesh Bhupati Tennis academy, a polo and an equestrian club. There are plans to create a world class stadium where amateur sportsmen and athletes can avail proper training. The city will also have five star hotels, serviced apartments, a convention center, and an exhibition hall. Read More »

Bhagyanagar India Ltd. sells out land for Rs 54 cr

Hyderabad-based Bhagyanagar India Ltd., doing diversified business of metal and component manufacturing, is selling a part of it to Mumbai-based unlisted company Himadri Enterprises for a whopping amount of Rs 53.52 crore.

Also, the company has sold out 5.76 acres at Uppal, an industrial suburb near Hyderabad, to Himadri that has paid Rs 3 crore to Bhagynagar beforehand. As learnt from sources, Bhagyanagar is holding talks with different well off companies including Reliance Properties, Godrej Properties, Suncity, and others regarding property development projects. Read More »