Latest Property News on 'Real Estate Developers'

Oberoi Constructions plans Rs 12500cr Investment

Property developer Oberoi Constructions is exploring possibilities of SPV-level joint venture partnerships with financial institutions besides an initial public offer next year to finance its Rs 12,500-crore expansion, a top company official said today.

“We have divested 10 per cent equity and we will further dilute equity to raise capital through an IPO next year,” company’s Managing Director Vikas Oberoi told reporters here. Read More »

Ruchi Group enters into Rs 450-cr Realty Project

Ruchi Realty Holdings Pvt Ltd, a venture of the city-based Ruchi group of industries, has embarked on a Rs 450-crore real estate project for construction of 796 luxury apartments here.

Ruchi Realty Vice-President Shivam Asthana said today that the project would have the first sports-based residential condominium here and other unique facilities in six towers on 17 acre on the E M Bypass. Read More »

Indian developers eyeing overseas realty market

More and more Indian realtors are planning global. And the Middle East, especially Dubai, seems to be the most preferred destination. Reversing the trend of international investors flocking to India’s booming reality sector, domestic players are foraying into the foreign market.

One of the first Indian developers to look beyond Indian shores was Parsvnath Developers, which last year began setting up development offices in Sri Lanka, Mauritius, Singapore, Britain, and, of course, the Middle East. It has now tied up with the Al-Hasan Group in Oman. Read More »

Visakhapatnam set to be AP’s next IT city

Visakhapatnam is one of the fast-emerging tier III cities of India and is placed to be the next IT destination in the state of Andhra Pradesh. Availability of skilled labour, infrastructure, and comparatively cost-effective real estate in the city makes Vizag the next emerging IT/ITeS hub after Hyderabad.

It is expected to be one of the next growth drivers over the decade, according to Jones Lang LaSalle Meghraj (JLLM). JLLM (formerly Trammell Crow Meghraj) is a real estate services provider in India. The firm services international investors, corporate and local clients. Read More »

Sobha Eyes Slum Redevelopment, SEZs

Sobha Developers, a Bangalore-based realty major focused on residential space, is looking at diversifying its portfolio through slum redevelopment schemes and special economic zones (SEZs), retail and commercial projects.

Executive director Raghav Menon said the company would build an SEZ in either Tamil Nadu or Kerala. “We haven’t decided on the place yet. We will also enter retail and commercial project development,” he added. Read More »

From Big B to Deepika, Stars Ride Realty ‘Brand Wagon’

Bollywood celebrities don’t just peddle dreams but also dream homes. Real estate developers are now banking on the star power of the likes of Shah Rukh Khan, Amitabh Bachchan and Aishwarya Rai to endorse their projects.

Deepika Padukone is the latest to join these marquee names. Aspire Real Estate, a Dubai-based developer, has signed up the actress as its brand ambassador. “We are targeting India, and Deepika will add to our brand equity,” said an Aspire spokesperson. Read More »

Top Realty Players Set to Enter Warehousing

It’s a road less traveled but real estate developers are revving up. After building luxury homes and corporate offices, top-of-the-line property developers such as Akruti City Ltd, Emaar MGF Land Ltd, K Raheja Corp., and Nitesh Estates are planning to build warehouses as organized retail booms and traditional realty market slows.

Organized warehousing, though in its nascent stage, has whipped up a huge demand—nearly 340 million sq. ft is needed by 2015, according to Jones Lang LaSalle Meghraj (JLLM), a property consultancy firm. With international companies coming to India, warehousing is set to change from old-fashioned storage sheds to planned hubs that are designed to serve as inventory management and storage spaces for retail chains. Read More »

EMI Holidays Drive Flat Housing Sales

Faced with declining demand for properties, real estate developers are courting buyers with a new offer: EMI holidays.

This trend is catching up in cities like New Delhi and Bangalore where real estate markets face stagnation. Under an EMI (equated monthly installment) holiday scheme, the buyer only needs to make a down payment of 10-15 per cent of the flat’s cost and does not need to pay EMI till he gets possession. However, the buyer has to arrange the loan and the builder will pay the interest till the flat is handed over, in about 18-24 months.

According to a recently released report by Citigroup, developers like Parsvnath, Uppal’s, RPS Group, Gaursons India, Triveni Infrastructures and KDP Infrastructure are offering this scheme in select projects in NCR Delhi. Read More »

Enticing Buyers with Freebies

Stung by the bearish realty market, which is reeling under a price correction, real estate developers are now unleashing discounts, freebies and innovative schemes to lure buyers into residential space. Consider these: TDI is offering a free international trip for its Kingsbury Luxury Apartment buyers; Ansal Buildwell has advertised an inaugural discount on its project Florence Abode; scores of players are offering an ‘EMI holiday’ till possession on specific projects; while yet others are willing to waive prime location and such other charges or throw-in complimentary club memberships for new homeowners.

“In various markets, despite a slowdown in demand, developers have refrained from reducing rates. Instead some of them have started offering incentives such as club membership, parking lot, and better amenities to attract buyers,” says Ms Shveta Jain, Associate Director (Residential), Cushman & Wakefield India. Read More »

Lohia Group to Invest Rs 350 cr in Real Estate Projects

Amidst correction in the country’s real estate scenario, diversified business house Lohia Group is planning to invest up to Rs 350 crore in developing three projects in the National Capital and Uttar Pradesh by 2011.

The group’s subsidiary - Lohia Developers Pvt Ltd plans to develop two townships in Lucknow and Moradabad, and a commercial complex in Delhi. Read More »