Indian Property News on 'September, 2007'

Govt. to Bring a Regulator for Delhi Property Market

Stepping up the efforts to bring greater transparency in Delhi real estate, the Union Government is considering setting a regulator to address builder-consumer complaints in the Capital. The plans will be reinforced and executed within six months, says Mr. Jaipal Reddy, the Union Development Minister.

The regulator will be a quasi-judicial authority to be headed by a famous personality, informs the minister while addressing the inaugural session of an international real estate conference summit, organized by Federation of Indian Chambers of Commerce and Industry. Read More »

DLF Secures Fourth Position in World’s Realty

Indian real estate giant, DLF, has secured the fourth position for itself amongst the world’s largest realty players. The rank has been given on the basis of market capitalization. DLF’s market cap is Rs 1, 28,563 crore.

Also, the company has recently listed on bourses raising $2.4 billion of funds. Having appeared in the list in such a short span of time has been the biggest milestone for the DLF. Read More »

Indian Realty to Grow by 33% by 2010

The real estate market in India is expected to grow at 33 percent between 2005 and 2010, and increase its worth from $12 billion to $50 billion.

Indian property market is likely to grow at 33% between by 2010. There is a significant increase in its market size from $12 billion to $50 billion. Total housing spend is likely to grow at a CAGR of 18.60% from Rs 171,800 crore in 2005 to Rs 403,400 crore in 2010.

With properties in Bangalore, Hyderabad, and Chennai zooming upwards, other Indian cities are also surrendering to the allure of booming real estate market. Read More »

Emaar to raise $1.5bn through an IPO

Emaar MGF Land Private Limited is planning to sell 10% stake through an IPO in India, which is expected of raising around $1.5 billion (depending on the market condition) to make it the country’s biggest listing.

40% of the company is owned by Dubai’s Emaar Properties whereas MGF Development has 60%. Read More »

DLF to Adorn Kolkata Realty with Rs 700 Cr project

DLF, the most prominent name in Indian real estate, is all set to its second IT Park with an investment of Rs 700 crore.

The Park will come over a large area of 25 acres and will accommodate 2.5 million square feet of IT/ITes companies. The project will be developed in different phases.

The first phase of the IT Park is likely to be completed by 2007-end. Read More »

Yatra to raise capital for realty projects in India

Yatra Capital, a Euronext listed Indian real estate fund, will raise $211 million to make investments in commercial, residential and retail property in the country.

The funds will be raised by selling shares to institutional investors, informs Ajoy Veer Kapoor, Director, Yatra Capital.

Investors are bullish on putting large funds in Indian property market. And their appetite to make investments is growing day by day, adds Kapoor. Read More »

Swan Mills to start real estate projects in Mumbai

Mumbai based Swan Mills Ltd is planning to come up with commercial and residential real estate projects in the city with a total saleable area of 1.85 million sq ft.

Among the projects, the most notable ones would be a residential project at Sewari in Central Mumbai and a commercial project in Kurla. Both the projects will have different saleable area; 950,000 sq ft for the Sewari project and 900,000 sq ft for the Kurla project.

These projects are scheduled to be completed by March 2009. The company has joined hands with Peninsula Land Ltd for the management of the real estate projects in Mumbai. Read More »

Tier-II/III Cities Continue to Fuel Real Estate Growth

Of cities nominated for the emerging markets for real estate investment, Surat has topped the chart, says the data showcased by the FICCI- Ernst &Young, the India-US CEO Forum.

The city has been making rapid strides on the back of its residential property sector for the last couple of years. There is large residential development in the localities of Vesu and Damas.

The Gujarat Government has recently signed a Memorandum of Understanding worth 1.418 crore rupees with builders to develop integrated townships in Surat. According to the report, land prices in the city are also zooming upwards and appreciated by 30 to 50 percent over the past year. Read More »

DLF bids highest for Tidel-II

DLF Ltd, India’s largest real estate development company, has emerged as the highest bidder for establishing the Tidel-II, the second IT/ITes SEZ in Chennai.

DLF made a bid of Rs 26.07 crore an acre for the 26-acre property at Taramani and take the total bid amount to Rs 660 crore in the closed bids called by Tamil Nadu Industrial Development Corporation.

DLF bid at a rate of Rs 5,757 per sq ft for the property including 11.32 lakh sq ft. Other real estate developers bidding for the property were Ascendas, RMZ Corp, and Prestige Group. Read More »

Walton St Cap, Starwood Cap to join hands with Shriram Properties

Shriram properties, a prominent name in South India property market, is partnering with funds sponsored by Walton Street Capital and Starwood Capital Group to develop a Rs. 5,000 crore integrated township in Kolkata.

The company seems highly excited about the venture with Walton Street Capital and Starwood Capital, both of which enjoy substantial presence in constructing destination properties. These management firms will definitely give a major facelift to Kolkata real estate. Read More »