Indian Property News on 'June, 2007'

High Demand for Small Premium Apartments in Bangalore

Bangalore residential real estate cannot strike equilibrium between soaring demand and less supply of premium apartments in central locations such as Richmond Town, off MG Road, and Cunningham Road. Here, an increase in number of independent bungalows is paving way for small premium apartments.

Rentals in Bangalore are likely to fall in the long term in case the trend continues, predicts Cushman and Wakefield in its data giving a snapshot on the city’s residential market. Read More »

Delhi Advances towards Strong Infrastructure to Host F1 Grand Prix

A BIG leap for India’s sport is in store with the New Delhi to come on the Formula One map with its supremo Bernie Ecclestone giving his nod to stage a Grand Prix in the city from 2009.

But does the Capital have quality infrastructure or the monies to cater the thrilling world famous race? What about the prospective sponsors? Will it be beneficial for the city to take up the risk along with hosting Commonwealth Games in 2010? Read More »

Capital Sets Minimum Circle Rates

Residents in Delhi interested to buy or sell residential property without undervaluing their property to cut on taxes have a reason to smile. The Delhi Cabinet on Monday has approved threshold property rates for valuation of land and properties for the purpose of registration in different parts of the city.

Any property deal that would be hitting below the prescribed level will not be registered, says chief minister Sheila Dikshit. The new rates are likely to ease the procedure of evaluation of stamp duty and result in greater transparency, simplicity, and effectiveness in the registration process. Read More »

Ascendas to Launch First India Real Estate Trust

Ascendas, Asia’s leading business space provider will launch the first property trust of Indian assets worth $500 million Singapore IPO in July 2007 with the renowned real estate developer Embassy Group.

The company has earned a good name and fame as Office Park developer with the projects in Bangalore, Chennai, Hyderabad, Pune, and Nagpur. It has a plan to sell 425.3 million shares, with a greenshoe over allotment option of 10%. Read More »

JP Morgan to Invest $100 m in Aparna Constructions

JP Morgan, a leading financial services firm with global scale, is planning to invest $100 m in Aparna Constructions & Estates, a Hyderabad based property developer through its real estate arm. The investment is being made to develop a specific project which is expected to be routed through a special purpose vehicle (SPV).

Aparna Constructions enjoys the status of a prominent builder in Hyderabad real estate sector. The company has a multitude of development projects to be complete in its pipeline. It includes construction of malls, townships, other commercial and residential real estate projects. Read More »

Maharashtra Govt Supports RIL Navi Mumbai SEZ

Reliance seeks out support of the Maharashtra government to help its proposed Navi Mumbai SEZ which was deferred following objections raised by the revenue department. The project is to be developed on a large area of 1,240 hectares.

Concerns over the issues such as lack of alternate access roads connecting to local villages and non availability of water resources have pushed the SEZ into limbo. All these issues have been raised by a committee headed by Sanjeev Behari, commissioner (customs and exports). Read More »

Ajmera to Tap Bangalore Real Estate

Real estate major Ajmera Group is planning to carve out a substantial niche for itself in fast flourishing Bangalore real estate. In a bid to tap the same, the company will invest around Rs 300 crore to develop a residential project in the garden city over the next two years.

The Ajmera Group stepped into South real estate in early 2006 with the development of Ajmera Green Acres in Bangalore, a 5, 00,000 square foot construction which came in Bannerghatta district. The group has developed 1, 70, 00,000 square feet of residential space across the country. Read More »

No Soaring Interest Rates on Home Loans, Expect Bankers

Bankers eliminate the requirement of any further hike in interest rates on home loans since rate of growth of credit seems to be undergoing corrections in these sectors.

The government is taking stringent steps to control soaring demand in real estate market and housings sectors, banks are trying to follow the existing directives to contain growth of credit in the housing sector, says K Raghuraman, executive director of Punjab National Bank. Read More »

Now, Omaxe to Make its Mark in IPO Market

Close by heels of DLF, Omaxe Ltd., another prominent name in Indian real estate is ready to come up with its initial public offering (IPO) in a week. However, it may require keeping its shares price lower than its rival DLF in a bid to woo prospective investors.

Although Omaxe has not yet decided anything regarding on the price for the issue but it is expected to be below Rs 500 a share, informs a senior official of the company close to the proceedings. Read More »

Alliance Group Presents a 24-Hour News Channel on Real Estate

Alliance Property Group Inc., a full service development firm dedicated to commercial and residential developments, is to launch a 24 hour TV Channel committed to feature everything related to real estate only.

Involving an upfront investment of Rs 1 billion, the pan-Indian, English language channel- Real Estate TV – will have the programs covering every possible facets of real estate in the subcontinent, Southeast Asia and the Gulf region which houses the largest number of Non Indian Residents (NRIs). Read More »