Indian Property News on 'December, 2006'

Sealing Drive Next to Target Gurgaon Property

The sealing drive has now hit Gurgaon as its next target after wiping out the Delhi’s illegal commercial establishments. Authorities have sealed over 115 residential properties in HUDA sectors that have been taken into use for commercial purposes since August.

Property surveys show set up of 369 residential premises in HUDA sectors that are being used for commercial purposes. Of this, the remaining 254 will be sealed soon. There are 1,319 properties under the lens of the Enforcement Department, and all have been sent legal notices which ask the violators to shut down their illegal shops within a month’s time, say Enforcement officials. Read More »

Real Estate taking shape in Bangalore

The city of Bangalore has always been attracting a lot of attention from potential investors who set their eyes on this fast flourishing metro to pump in money in real estate here.

Most people purchase the property with the pure intention of selling it in order to get more and more monetary gains in return. This is what encourages them to either let out their premises or lease it. Often touted as “Garden City of India”, Bangalore’s fascinating blossoms and luxuriant greenery were once known to render a vibrant charm to the city which has now taken over by burgeoning software industry and multitude of shopping arcades.

From a quite city to tinsel town, Bangalore may be losing out to Pune if International studies and reports on Real Estate and Property are to be taken into serious consideration. The city is still a paradise for the property developers, with ever increasing demand for commercial as well as residential properties surging to record high. Read More »

Property prices heat up in Mumbai

An apartment in Cuffe Parade in Maker Tower B has recently fetched Rs.73, 000 per square feet. Indeed, the property sale prices are expected to continue on their rocket pace touching around Rs. 80,000 per square feet for prime South Mumbai apartments. Such a scenario clearly underlines the fact regarding the over heated real estate market in Mumbai.

The areas of Mumbai which have seen massive escalation of real estate prices over the last few months include Walkeshwar and Peddar Road that witness property transactions upwards of Rs. 50,000 per square feet. As for certain areas like Navi Mumbai, the property prices may take a break but there will be no holding them back, say industry experts. Read More »

Funds raised from AIM cross $ 1 bn

With a multitude of Indian property developers and other companies tapping Alternate investment market (AIM), this London Stock Exchange’s junior venue has become a hunting ground for the companies to raise money to fund their projects in India.

The total capital raised by 10 Indian conglomerates listed on the AIM during 2006 has been evaluated to cross the billion dollar mark. Read More »

Peninsula Land to invest 2,500 crore in Indian Realty Sector

The Ashok Piramal Group unveiled plans invest 2,500 crore in booming Indian realty sector over the next two years. The conglomerate is poised to grab potential investment opportunities in commercial as well as residential real estate projects. It has also shown an inclination towards taking up the construction work of IT parks and SEZ zones as these projects have a greater potential for infrastructure development.

The group has floated a special purpose company Peninsula Realty Fund (PRF) to fund the capital required for the projects. However, the company has received a nod from the cabinet committee on economic affairs regarding its request for bringing around Rs 1,500 crore as foreign direct investment in Indian real estate. Read More »

Lovells Scored Its First Indian Real Estate AIM flotation

Lovells has won its first Indian real estate AIM floatation off the back of a referral from Deutsche Bank.

Lovell’s team scored the mandate of Ishaan Real Estate, a holding company floated by K Raheja Group, raising 180m on London Stock Exchange’s junior venue, the Alternative Investment Market (AIM). The task has been simplified with the help of former JP Morgan colleague now at Deutsche Bank who has acquaintance with Chris Hourton, senior associate of Lovell and Ishaan as well.

Lovells worked in a joint venture with two Mumbai companies to take Ishaan to market and hopes to continue its role as corporate guru. Ishaan Real Estate is basically a listed fund with an initial portfolio of eight property assets. It announced Ian Henderson, former chief executive of Land Securities, as its new chairman. Read More »

Israeli Companies Unveil Plans to Invest $100m in Indian Real Estate

Israel stepped up its efforts to enhance cooperation and bilateral trade with India. Israel Property and Building Cooperation, an Israeli real-estate developer, and Electra Ltd. are afoot to share each other’s platform to pump in as much as $100 million in the booming Indian real estate sector.

These two giant conglomerates have announced to enter into a joint venture in which both of them will hold 45 percent stakes. The remaining 10% will be held by an Indian partner whose name has not yet been disclosed. Read More »

Realty takes FDI to $10 bn

Adding to efficiency and capability of India real estate, realty biggies like K Raheja, Surinder Hiranandani Group, and Tricona are on their way to hold a competent niche at some point of history for contributing to the development of the Indian realty market. They have been brought FDI into the sector which is likely to touch $10-12 billion in the next six months.

Other realty players following in Rahejas footsteps include Unitech, Ansal API, Omaxe and the Nirendra Hiranandani Group that have made a beeline with their big ticket listings at the London’s junior venue stock exchange Alternate Investment Market (AIM). Read More »

Hilton Hotels Corporation and DLF to revolutionize hospitality concept in India

Hilton International Co., a leading name in hotel industry and Indian real estate giant DLF Ltd. announced a joint venture to bring one of the largest international hotel chains in India over the next seven years.

For Hilton, this is going to be the biggest expansion outside the North American continent. Their hotels will represent Hilton Hotels, Hilton Garden Inn, Homewood Suites by Hilton and Hilton Residences and other renowned brands from Hilton Hotels Corporation’s brand portfolio. Read More »

Euronext to be the next stop for Indian Realty Biggies

Recently, Yatra Capital Limited became the first Indian real estate company to tap the Euronext after a 100 million euros placing. Formed in a merger of Brussels Stock Exchange and Paris Bourse, Euronext is a pan-European stock exchange with subsidiaries in Belgium, France, Netherland, Portugal and the United Kingdom.

The company, incorporated in Jersey and established to invest in and profit from the rapidly growing Indian real estate market, raised 100 million euros through a placing of 10 million ordinary shares at 10 euros each. Read More »