Indian Property News on 'December, 2007'

Godrej gears up for real estate with Integrated Development Strategy

After the state government repealed the Urban Land Ceiling (Regulation) Act (Ulcra), The Rs 7,500-crore Godrej group is planning to adopt an integrated development strategy on real estate. “By integrated development, we mean, residential, hospitals, health care, offices, IT, etc,” Godrej group chairman Adi Godrej told TOI. “This may also include revival of the group’s plans to build a world-class exhibition centre, a proposal which has been pending for very long. We have constantly been in dialogue with the government on the same. We are trying to convince them to modernise the regulatory framework.

We can only proceed with these plans once we are clear on the awaited regulatory policy of the government. For instance, we would like a change in the FSI (floor space index) regulations so that it is raised to what exists in other developed cities in the world. We expect this will follow, since Ulcra has been repealed,” said Godrej. Read More »

Bharti Plans Entry into Real Estate

Bharati is all set to make a mark in the Real Estate sector. The company is having discussions with a lot of real estate companies for obtaining and leasing land for their proposed retail outlets in North India.

Attending a Ficci summit on retail, Mr Rajan Bharati Mittal, MD, Bharati Enterprises said that the company is in talks with Unitech, MGF, DLF and Parsvnath, and is looking at buying and leasing land for retail outlets. He also said that the decision to buy or lease land for the outlets will depend on their needs. Read More »

Sobha Developers joins the Real Estate Party

Sobha Developers, which was touted as an underperformer so far, appears promising enough to be a part of the burgeoning real estate.

Real estate stocks are the flavour of the season. The BSE Realty index has secularly beaten the Sensex by a rising margin over the past few months.

Although the visible reason for the sector’s out performance appears to be the recent ULCRA repeal in Maharashtra, the rally has not spared the stocks of real estate developers from other parts of the country as well. Read More »

Strong Prospect ahead for Housing Finance Companies

Housing finance companies have a bright future with strong increase in demand for housing loans and stable real estate prices. Despite the fact that the stocks are not economical, they make good long-term investments.

The US Federal Reserve has slashed rates by 100 basis points in the past three months because of last week’s 25 basis point cut in the interest rate. The cut signifies benign interest rate environment worldwide once again as the US grapples to perk up its drooping economy and prevent the worsening credit crisis. According to industry sources India will also follow the trend of lowering interest rates over the next few months Read More »

Real Estate India Witnesses Sustainable Development

Real Estate India is going the right way with sustainable Real Estate developments taking place, keeping full care of the environment. Concentrating on environmental crisis is a necessity for India. Sustainable real estate presents India with a unique and enormous opportunity to make concrete progress to improve its environment.

Jones Lang LaSalle Meghraj came up with a report titled ‘Sustainable Real Estate Development in India’, which highlights the increasing trend of sustainable real estate growth in India, keeping the environment in mind. Terms such as sustainable development, corporate social responsibility and triple bottom reporting which are becoming a common trend in the real estate sector recently crystallize the greater consciousness towards the environmental crisis in India. Read More »

‘F1′ – Fitch Assigned to Parsvanath Developers

India’s Parsvnath Developers short-term debt programme acquired ‘F1 (ind)’ rating from Fitch whereas its long-term bank loans got an ‘A (ind)’ rating.

The ratings crystallizes Parsvanath Developer’s brand recognition in the real estate market, large geographical and product diversity, long track record in real estate project execution, rapidly growing revenues and the expected growth in the nationwide real estate sector. Read More »

Jones Lang LaSalle plans to invest $5 bn in Property market

The world’s leading integrated global real estate services and money management firm, Jones Lang LaSalle is planning to strengthen its position in India. Seeing the lucrative opportunities in the mushrooming Indian Real Estate market, the firm is thinking of investing $5 billion in the Real Estate sector. Recently, Jones Lang LaSalle merged with Trammel Crow Meghraj, a property consultant based in Mumbai.

Colin Dyer, president and chief executive officer, Jones Lang LaSalle said that they don’t have any presence in India’s investment management service sector and they have lined up plans to bring in the business to the country. He also added that the firm has allocated close to $20 billion for the Asia-Pacific region, and India would get anywhere close to 5% of the amount. Read More »

Assocham Predicts $30 bn FDI in Indian Realty Sector within a Decade

Industry body Assocham said that Foreign Direct Investment in the Indian realty sector may jump around six-fold to $30 billion in the next 10 years. According to Assocham the sector is expected to grow more than 30 per cent in the next few years.

presently, the flow of Foreign Direct Invest in Indian Realty Sector is estimated at around 5 to 5.50 billion dollars. The domestic real estate market stands at $14 billion, is expected to be $102 billion in the next 10 years, when the FDI inflows to the sector would be about 30 billion dollars. Read More »

Israel Targets Investment in India

India is emerging as a hot Real Estate Investment destination for Israel’s. Leading real estate and development companies from Israel are targeting investments in India and the Far East even as they continue to invest in the local market, which is generating high yields as prices rise.

Dr. Surinder Pruthi, chairman of leading Real Estate Development and management companies in India said that there is a huge market economy developing and a young population fond of spending that will be seeking housing. It is safe to invest in India and today there are multiple choices of public-private partnerships for investment into office, residential, hospitality and other projects.” Read More »

Nitesh Group to Invest Rs 400 cr on Shopping Mall

Real estate developers, Nitesh Group declared their venture into the retail sector with the setting up of shopping mall spread across five acres of land in the city at an investment of Rs 400 crore.

The mall, which is being designed by a Seattle-based architecture firm, will be one of the largest in South India. The mall will house some of the most luxurious brands of world and a portion of the mall will also house service apartments. Read More »