Indian Property News on 'September, 2007'

Wal-Mart India to Meet Its New Challenges

The world’s largest retailer Wal-Mart is seeing issues securing property and talent, but the company is confident to open its first cash and carry store in the country by 2008-end.

Recently, Wal-Mart and Bharti Enterprises have signed a 50:50 joint venture agreement that had been awaiting the government’s nod for a long time. With the venture, Wal-Mart announced a foray in India.

Called Bharti Wal-Mart Private Limited, the joint venture is soon to come up with its first store which will sell groceries, consumer appliances, and fruits and vegetables to retailers and small businesses, by 2008-end. Read More »

Hard Times for Domestic Retailers in India

India is stepping up its efforts to bring greater transparency in real estate by making the sector a little organized. This first and foremost step is to think about the ways to prevent large domestic players from displacing traditional grocery stores.

In reply to a question on when India will pave up the ways for FDI in it’s over 330-billion dollar retail market to foreign investments, Kamal Nath, the Commerce and Industry Minister on the first Pravasi Bharatiya Divas New York 2007 says that the issue is actually regarding large realty players versus small retailers and not the FDI. Read More »

It’s Biotechnology after IT to make Headlines in Indian Realty

Close on heels of IT industry is fast flourishing bio-technology sector to bring another boom in Indian property market, according to the data showcased by real estate consultant, Jones Lang LaSalle Meghraj.

The biotechnology industry will need around 100 million sq ft of space, says the report. The real estate is believed to benefit a lot by the development of biotech parks and manufacturing units, says the report. Read More »

Mumbai CBD to add considerable space

The Mumbai Metropolitan Region Development Authority (MMRDA) is all set to double the Floor Space Index (FSI) for commercial properties in Mumbai’s Central Business District (CBD) of Bandra Kurla Complex (BKC).

The MMRDA has ruled out the objections raised by some environmental groups and corporates over its proposal, and intends to raise the FSI to 4 from the current levels of 2. Read More »

Commercial rentals on top, due for correction

After being the subject of incessant rally for the past few years, the commercial rentals in nearly all the major cities of India have touched the rooftop, says the recent report from international real estate advisory firm DTZ.

The absorption levels of commercial properties in India are steeping down due in most commercial hubs of these cities such as Delhi, Mumbai, Bangalore, and Hyderabad. Read More »

Blackstone to Join Hands with Nagarjuna for Realty Projects

The Blackstone group, a leading global alternative asset manager and provider of financial services, is planning to foray into Indian real estate with Nagarjuna Construction Company (NCC).

Currently, NCC is working on a 13 million sq ft real estate project while Blackstone may invest $1 billion in Indian realty over the next few years. Read More »

Walton Street Bullish on Indian Retail

US-based property fund Walton Street Capital is eager to make investments in Indian retail sector, one of the fast flourishing real estate segments in the country.

The fund is also looking forward to Indian hospitality industry.  It has already committed a whopping investment of $3.5 billion in around 150 separate transitions in the US and other international property markets. Read More »

An Analysis of Factors Affecting Indian Realty

K.P Singh, the Chairman of India’s largest real estate company DLF Ltd. sheds light on factors affecting the pace of Indian real estate. According to him, it’s stringent monetary policies and subsequent high mortgage rates.

Prices of residential property in India would only begin to fall in a fast flourishing economy with an increase in supply, says Mr. Singh. He also adds that property prices will take a slip only if pushed by increased supply and not mere monetary policies. Read More »

Reliance Retail Sees Rs 11-cr loss

Reliance Retail Limited (RRL) has posted a net loss of Rs 10.99 crore on total earnings of Rs 259.85 crore in the first year of its commercial operations. The loss was on a total income of Rs 259.85 crore.

RRL is still in the roll-out phase and plans to establish around 5,000 stores by 2009-end. The company made large investments in the initial phase of operations and profits were quite less, which leaded to such a heavy loss. Read More »

LEELA Hotels plan Rs 2200-cr Investment; Launching New Projects

The Leela Group of Hotels will invest a whopping Rs 2,200 crore in the next three years to develop six hotel projects in different Indian cities.

The company will come up with five new hotels and service apartments by 2010. It will bring the hotel in cities including Hyderabad, Chennai, Udaipur, Pune, and Delhi whereas service apartments will be developed in Gurgaon.

“We have already invested Rs 1,100 crore,” says Leela Group chairman Capt C P Krishnan Nair. Read More »