Indian Property News on 'October, 2007'

Arvind Mills plans retail expansion worth Rs 400 cr

Bangalore based Arvind Mills will invest Rs 400 crore over the next four years to ramp up its retail operations targeting $1 billion by 2012.

Arvind Mills runs 70 ‘Megamart’ retail stores across India selling multi-brand apparel. The company is planning to come up with 200 more outlets in the specified time, along with introducing a larger format ‘Megamart Outlet Centres’ in top 20 cities.

Chennai would be the first to see a Megamart Outlet Centre which would come over 60,000 square feet. Other cities will be Hyderabad and Pune. Read More »

Parsvnath To Bring Luxe Living in Jodhpur

Delhi based Parsvnath Developers will soon come up with a self contained, Mega Township in Jodhpur. To spread over an area of 110.4 acres, the project will be christened as Parsvnath City.

The city will be completed within two years. The builders also launched Royale Villas, a limited edition of exclusively designed independent villas.  The villas are offered in size options of 200, 250, 300 square yards and are a part of Parsvnath city. Read More »

Elibit Joins Hands with Indian Company

Elbit Medical Imaging Ltd, an Israeli property investment and health care company, has recently joined hands with an Indian company to develop a large scale residential cum commercial complex in Bangalore. The project is expected to generate revenue of more than $4 billion.

The company has entered into a joint venture with a construction company for the project, which will be owned by Elbit and its partner. Read More »

Lodha Group Buys land in Hyderabad for Rs 225 cr

The Mumbai-based Lodha Group could not keep itself away from the charm of Hyderabad real estate. It has recently acquired 12.9 acres of land for Rs 225.40 crore to develop a high end residential and commercial complex.

The plot is located at Eden Square, Kulkatpally Housing Board Colony. Lodha Group bagged the land in an auction organized by the Andhra Pradesh Housing Board. Read More »

ETA Star to Launch Realty Projects in Bangalore

UAE based real estate developer ETA Star is planning to enter into the Indian real estate with the launch of new projects in Bangalore.

The company will use its land bank of 300 acres for the projects which will cater to both commercial and residential developments. Read More »

RBI Suggests to Cut VC Funds

The Reserve Bank of India (RBI) has extended Finance Ministry the ways and means to cut investment flows from venture funds coming into real estate.

These measures are likely to help check the part of the huge inflows of foreign capital, particularly since the last week of July.

The Apex bank has also recommended putting restrictions on investments by Venture Capital funds in sectors that are already developed. Other suggestions by the RBI include bringing foreign direct investments under the approval route. Read More »

KSL to bring ‘Empress City’ in Nagpur

KSL and Industries Ltd, is entering into real estate business in India with its flagship project, Empress City – an integrated township to come over an area of 25 acres in Nagpur City.

The company recently participated in two property expo – ‘India Retail Forum (IRF) 2007’ organized by Images Group and ‘Business Spaces 2007’ for IT Parks by The Economic Times.

The malls named as “Empress Malls” was one of the major attractions at IRF.  The model of the project offered a comprehensive view of the entire Township including shopping malls, IT Park, luxury apartments, etc. Read More »

Pai Solebille Plans Foray into Indian Real Estate

Pai Solebille Global Services Ltd, inspired by the growth witnessed by Indian property market, is all set to make a foray into the sector. The company was founded in 2006 and envisions carving out a substantial niche in the IT contraction/outsourcing market.

Pal Solebille sees real estate an area with huge growth, with returns averaging over 25% per annum. Read More »

La Calypso to Expand across India

Goa-based La Calypso Hotels Private Limited plans to capitalize its expansion across India with a prohibitive amount of Rs 350 crore. The company will develop seven five star hotels by 2009.

La Calypso Hotels will set up hotels in Mumbai, New Delhi, Gurgaon, Bangalore, and Hyderabad. The company will soon come up with a resort on the Mumbai-Pune Expressway.

The expressway Properties will be especially developed to cater to requirements of domestic and international travelers. On the other hand, the other four hotels will target business travelers. Read More »

ICICI Plans $2 Billion for Biggest Indian Real Estate Fund

ICICI Venture Funds Management Co Ltd, India’s largest venture capital company, is planning to invest a whopping $2 billion for the country’s biggest realty fund, thereby tapping the potential of a burgeoning market.

The fund will raise the money in India and abroad. The venture will invest in real estate projects, both commercial and residential, and buy land in 12 largest Indian cities. Read More »