Indian Property News on 'July, 2007'

Trikona Cap Takes 33% Stake in Uppal’s 67.5-acre Haryana SEZ

Real estate fund Trikona Capital has acquired 33% stake in real estate company Uppal’s Group’s Haryana SEZ for around $50 million.

SEZ is owned by a special purpose vehicle (SPV), in which the remaining stake has been acquired by Uppal’s Group. Read More »

IVR Prime IPO to Raise Over Rs 849 Cr

Initial Public Offer (IPO) of the real estate developer IVR Prime has been subscribed 2.16 times on Thursday and is likely to raise over Rs 849 crore.

Fixed at the price band of Rs 510-600 per share, the issue has received bids for 3.05 crore equity shares against 1.45 crore on offer, says the data showcased on the bourses. At the lower end, the company would raise Rs 721 crore.

IVR Prime is primarily interested in taking up development of affordable homes, says the company’s managing director E Sunil Reddy. Read More »

DLF to Develop Rs 850 Cr IT SEZ in Gujarat

Real estate giant DLF has recently announced to develop a Rs 850 crore SEZ in Gujarat. The project will come up over 25 acres at Gandhinagar opposite Infocity.

The company has also unveiled its plans to carry out several other projects in the Gujarat and to put the state among the group’s top 5 investment destinations including the Delhi – NCR and Mumbai-Pune regions. The overall plan will be executed with whopping Rs 6000 crore, informs Rajiv Singh, Vice Chairman, DLF Ltd.

The Gujarat project is likely to create a pool of job opportunities for 30,000 people after completion which would take around 18 months. DLF will invest Rs 3,000 crore in establishing three IT SEZs including Gandhinagar, Ahmedabad, and Vadodara. Read More »

Prime Urban Developers Plans to Raise Rs 840 Crore

IVR Prime Urban Developers plans to raise Rs 840 crore to fund development of existing properties, repay debt and pay for development rights to IVRCL. Rapid execution of projects in upcoming locations is likely to drive revenues and IVR Prime’s earnings.

BUSINESS: IVR Prime focuses on integrated townships, residential apartments and commercial projects including hotels, retail malls and IT parks. Its land reserves will translate into 75 million sq ft of saleable area, to be delivered over the next 5-7 years. Read More »

Goa Real Estate - Game For Correction

If you’re looking to investing in property or to purchase land, then now is probably the right time… Land prices, after sky rocketing for the past couple of months, looks to be assuming some sort of stability.

True, land rates have not fallen but nobody expects that to happen, at least for the next ten years to come. Earlier speaking to GP, Darryl Pereira, CEO, Reira Group had said, “If you are investing in property, then it’s never right to wait. Land prices will always rise.” Read More »

Buying a House Vs Renting

Buying a house is certainly a smart decision than building it. Of course, easier said than done, especially in today’s scenario where property prices and home loan interest rates are going out of the reach. Is renting a house better option then?

Factors below can stimulate a few thoughts regarding the final decision:

Advantages and Disadvantages of Buying a House Read More »

DLF to Buy Gurgaon SEZ Land at Market Rates

Staying in step with what the Haryana Government has asked, India’s top real estate company, DLF Ltd. will offer existing market rates to farmers to buy land for its upcoming multi product SEZ in Gurgaon. This would increase the company’s investment in buying the land.

The market price in the areas allotted for the DLF SEZ is 4-5 times of the floor price in the state which is around Rs 22 lakh per acre. The proposed SEZ is in vicinity to Reliance Industries’ Jhajjar SEZ. Most land pieces in Jhajjar are believed to be infertile. Read More »

Maharashtra Govt. Proposes Draft Housing Policy

The Maharashtra Government, on Tuesday has come up with a draft housing policy in the Legislative Assembly. It endeavors to encourage private investment in the residential sector, facilitate development of Township in cities’ major locations, raising FSI limits, ensures sale of apartments on basis of carpet area.

Other significant measures allow non agriculturists to buy land and there would be no ceiling limits for holding land. The new draft housing policy has been published after consultation and public debate. Read More »

HUL Appoints Cushman & Wakefield to Sell Properties

Hindustan Unilever Limited (HUL), India’s largest consumer products company, has recently forayed into the booming Indian real estate. The company has a multitude of residential projects in prime markets like Juhu and Santa Cruz on the block.

HUL has appointed the leading international commercial real estate service Cushman & Wakefield to sell these properties. It is also considering signing joint venture agreements with property developers or a complete sell out of its Bangalore property. The company is in discussions with several property consultants to plan a strategy for the sale. Read More »

DLF’s KP Singh Becomes Third Indian Trillionaire

Kushal Pal Singh, Chairman of DLF Group, has become India’s third trillionaire in rupee terms as the share price of DLF, his flagship company, increased and witnessed stunning profit numbers.

DLF made a net profit of a whopping Rs 1,524 crore in the first quarter. However, the figure stands for only ‘accounting profits’ and have not been translated into an equal amount of ‘cash flow’ into company’s books. And, the company continues to work on negative cash flows.

During the quarter, DLF reported a negative cash flow worth Rs 2,270 crore, on account of sundry debtors and rise in inventory. Read More »