Indian Property News on 'February, 2008'

Real Estate Sector Looks for Management Graduates

Real Estate Biggies like DLF Ltd and K Raheja Universal Pvt. Ltd are in hunt for IIM-K graduates, when job placements begin in the first week of March, for the 2008 batch. The school is also expecting some real estate consulting firms and realty funds to make offers to graduates.

Real estate sector which has been historically catogarised as an unorganized sector of the economy, relying on family ties and personal connections for its talent pool is changing trends. But if past experience and recruitment on college campuses — information technology in the 1990s, financial services and consulting in recent years — is any indication, the aggressive wooing of fresh management graduates reflects the changing and growing nature of the industry. Retail companies, for instance, were seen on campuses last year, a few months after giants such as Reliance Industries Ltd and Bharti Enterprises Ltd announced plans to enter the sector. Read More »

Indiabulls Real Estate Raises INR 15.8 Billion by Selling Power Unit

India’s fourth-biggest property developer by market value, Indiabulls has raised 15.8 billion rupees selling shares in its power unit to billionaire Lakshmi Mittal and Farallon Capital Management LLC.

In an e-mail statement India bulls Real Estate said that it has sold 37.5 percent of its fully owned subsidiary, Sophia Power Company Ltd. The mail also revealed that Farallon will buy 23.4 percent while the remaining shares will be bought by Mittal.

Both Farallon and Mittal will buy the stakes at 66.67 rupees a share, the company said. Indiabulls Real Estate will hold 62.5 percent of Sophia Power. Read More »

IPL Clean Bowled By DLF

India’s biggest Real Estate Developers, DLF, has bagged the Indian Premier League (IPL) title sponsorship rights for Rs 200 crore for five years, with a first-year commitment of Rs 40 crore.

The five year deal can be reviewed at the end of three years depending on the success and performance of Indian Premier League (IPL). The minimum cap will, however, remain at Rs 40 crore per annum. Read More »

India Expected to Create Real Estate Investment Trust

Following fellow Asian countries, India is expected to create a market for real estate investment trusts (REITs) this year. The step will make it easier for investors to buy into the country’s sparkling new office blocks and shopping malls.

The move would also be encouraging for foreign property funds keen to join India’s construction boom but are not allowed to own finished buildings. Through REITs, they could buy the assets they develop, offering them an easier way to exit the projects and take profits on their investments. Read More »

Real Estate Facilitating Indian Economy Growth

Speaking at the “National Convention ‘NATCON 2008, Kamal Nath, Union minister for commerce and Industry said that developments in the Indian real estate sector symbolizes the changing face of nation and is a reflection of the growth in the Indian economy brought about by high rates of GDP and also by India’s integration with the global economy. The minister further added that in recent years real estate sector has been the main driving force of the Indian economy’.

Describing the present upswing in the economy Kamal Nath emphasized the requirement of creating international standard infrastructure and residential real estate to sustain the growth rate projected in the 11th Five Year Plan. Read More »

kardan plans $1.2 billion investment in India, China

The Dutch-Israeli investor in real-estate and finance companies, Kardan NV plans to invest as much as 800 million euros ($1.2 billion) to develop housing and commercial centers in China and India.

In India, the investment company is looking at opportunities in New Delhi, Mumbai and Pune, where GTC said in November it would build its first project in India. It may expand into other countries in Asia, Ickovics said. Read More »

India Doesn’t Suits your Budget? Invest in UK, US or Dubai

If investment in Indian Real Estate seems to be out of your budget, go for UK, US or Dubai. Sounds unbelievable but its true! Real Estate prices in south and central Mumbai is higher as compared to prices UK, US or Dubai. And the best part is, you get all of it without excessive pollution and slums all around you.

Thanks to a foreign exchange relaxation, Indians can now legitimately remit up to $200,000 (Rs79.26 lakh) every year for investment purposes, including property. With two persons (you and your spouse), the amount can be raised to $400,000 a year, enough to buy you decent property in many global cities. Read More »

Russian Multinational Sistema to Enter into Indian Real Estate and Infrastructure

The largest chip makers of Russia, Sistema JSFC plans to enter into the Indian Real estate, hotels, hi-tech electronics, infrastructure and highway development.

Speakingg on the same President Goncharuk said ‘we are looking at major investments in various sectors, including real estate, hotels, infrastructure and building highways.’ Read More »

The Ever Growing Indian Real Estate Sector

The Indian Real Estate Industry is on a roll be it in the country or outside. The sector has witnessed immense growth in the past couple of years. The phenomenal increase in the Real Estate demand and access to funds were the key drivers for propelling the Indian real estate market into an overdrive.

The industry received the much requisite first shot of funding in 2005 wherein the foreign direct investment (FDI) route was opened up for Indian real estate. Since then there has been no looking back, the real estate sector has transformed to reach $57 billion in 2007, and has a potential to reach $90 billion by 2012 according to the Eleventh Five Year Plan. Read More »

Mukesh Ambani-led Reliance Group Plans a Splash in Real Estate

The Country’s largest corporate house, the Mukesh Ambani-led Reliance group is all set to make a mark in the Real Estate Industry. The Company has already started its procedure of recruiting large number of highly experienced professional to work on its captive and independent projects.

The company is in hunt of professional with at least 15 years of “hands on experience” with major civil constructions, hotel chains, interior designers, architects, real estate developers as well as contractors and engineering consultancy companies working in this field for its real estate projects. Read More »