Latest Property News on 'Hyderabad'

Hotel Novotel Hyderabad Airport launched

Novotel has launched the Novotel Hyderabad Airport property near the GMR Hyderabad International Airport (GHIAL). The hotel is spread over five acres and offers 305 rooms consisting of 11 suites, 53 premier rooms and 241 superior rooms. “Located in a quiet, green environment in close proximity to the airport terminal it is slated to emerge as a favourable choice for business travelers and will ignite the beginning of an Aerotropolis in Hyderabad,” says Simon Jinks, General Manager, Novotel Hyderabad Airport.

The hotel has launched a special opening offer of Rs 5,500 (inclusive of service tax) from October 1 to December 31, 2008. It is applicable to guests of the superior rooms and includes breakfast and airport transfers. It is also offering Flexi Stay packages for business travelers who come for a very short period.

PBEL ties up with L&T to develop ‘PBEL City’

PBEL Property Development (PPD) has tied up with engineering and construction company L&T for its project, PBEL City, on the outskirts of Hyderabad. Under the agreement, L&T will build about 2,000 apartments for PBEL on a turnkey basis at an outlay of Rs 552 crore. The entire project will be completed in the next four years and will house 13 residential and two commercial towers. Each tower will comprise 19 storeys with each level having 12 flats, PPD director Anand Reddy said.

Reddy said PBEL was aiming at developing 10 million sft of residential and commercial space across Hyderabad and Chennai. The PBEL City will make up for about 4.7 million sft, while the residential and commercial projects coming up in Chennai and the Logistics Park at Shamshabad will add 4 million sft and 2 million sft respectively. “There is no denial that the market has slowed down. But it is now a more mature market with genuine buyers,” Reddy said, adding that about 40 per cent of its two-bedroom flats have already been booked.

Aliens Space Station 1 to be the tallest residential complex in Hyderabad

A 30-storey residential project by Aliens Group in Hyderabad has been granted approval by the Hyderabad Urban Development Authority. Located in Gachibowli, the IT& Financial district, this complex named Aliens Space Station 1, is coming up in more than 18.5 acres of land with nearly 80% of remaining area as landscaped greens. Expected to go up to a height of 87 meters, this residential development will house 2,205 apartments including duplexes and penthouses.

“Hyderabad is growing as Asia’s new International hub and is a gateway to the region. Keeping pace with this development, Aliens Group synonymous for its “Intelligent Living” is developing a series of hi-tech digital homes” Aliens Group Managing Director, Mr. Hari Challa says. He added saying that Aliens Space Station 1, barely 3 Kms from the Outer Ring Road and 20 minutes drive from the new International Airport, is slated to be completed within 36 months. Read More »

Hyderabad office space to be increased through SEZs

Hyderabad boasts of quality IT infrastructure, a good human resource base business, friendly policies and a proactive government and so it is among the most preferred real estate destinations of India. It has 40 IT SEZs and hopes to reach US$7 billion mark with a prospective growth of 50 per cent during the current financial year. An estimated 60-70 million sq. ft of IT/ITeS specific commercial office space is expected to come up through special economic zones alone by 2010 in India. And out of the seven cities where such zones are coming up, Hyderabad leads with about 30 per cent of the total expected supply of real estate, closely followed by Pune, Bangalore and Chennai.

The south zone has been the frontrunner of the special economic zone movement in the country, accounting for 36 per cent of all approvals coming through, till date. One state that has clearly dominated the scene is Andhra Pradesh, which accounts for nearly 25 per cent of total notifications. Pockets of maximal real estate development activity in the state include the districts of Hyderabad and Visakhapatnam. In fact, the supply of new office space supply in the special economic zone space is going to far outstrip the fresh supply in non-special economic zone space in the coming years. Hyderabad.

Indu Projects raises 113 million from Credit Suisse

Indu Projects, a Hyderabad based infrastructure company has raised $113 million (about Rs 476 crore) from Credit Suisse, the Swiss investment bank. Indu Projects is a growing infrastructure company with interests in real estate, housing and market infrastructure. Indu will receive about $77 million (Rs 325 crore) in the first tranche of the funding and the balance would flow in the next 90 days. “The fund will be used for both our existing and future requirements. Credit Suisse has seen the potential in this market and the business plan we have,” Indu chairman and managing director I Syam Prasad Reddy told DNA Money on Thursday.

Founded in 2001 by Reddy, Indu recorded a turnover of over Rs 1,300 crore, with businesses in the areas of core infrastructure, theme ventures, end-to-end solutions and real estate. The company is currently building health cities and agri-parks across India. Indu currently has an equity base of Rs 15 crore, and the promoters hold 70% stake. Credit Suisse will get a 10% stake, while the rest 20% of it is shared by Citigroup Venture Capital, Maple Holdings, IDFC, Sun Apollo and Red Fort Capital. While this plan of theme parks is being finalised, the company is already in the housing market in the state. Read More »

Hyderabad Authority investing Big Money in Expressways

The Hyderabad Urban Development Authority (Huda) is investing about Rs 6,000 crore for an eight-lane access-controlled expressway. Part of the Outer Ring Road (ORR) project, it would be taken up in three phases, said Huda vice-chairman KS Jawahar Reddy.

In the first phase, a 24-km road would be laid from Gachibowli to Shamshabad, which is scheduled to be completed by February next year. In the second phase, a road from Shamshabad to Pedda Amberpet in one stretch and from Narsingi to Patencheru in another, in all 60 km, would be laid at an estimated cost of over Rs 2,440 crore. Read More »

New Airport to Add to Hyderabad’s Brand Image

With the new international airport commencing operations near here, the brand image of Hyderabad is to go up, attracting more investment in IT, biotechnology and other industries.

The swanky Rajiv Gandhi International Airport, which has come up 30 km south of the city, is described as the new icon of this IT hub, home to many software giants. If Hyderabad IT and Consultancy (Hitec) City at the once sleepy Madhapur village placed Hyderabad on the world IT map in 1990s, the new international airport is expected to transform the city, especially the area off the highway linking Bangalore into a business hub and attract huge investments in various sectors.

Though some air passengers are complaining of the long time they take to reach the new airport (the older airport was in the heart of the city), business leaders feel the state-of-the-art and spacious facility would help Hyderabad become a world-class city. The Rs 2500 crore airport, on over 5,000 acres of land, became operational Sunday, shifting all the operations from Begumpet airport. Read More »

Hyderabad to host HBS Real Estate Seminar

Harvard Business School, along with its affiliated India Research Center, is planning has to hold the South Asia Real Estate Seminar in India shortly. The subjects covered in the seminar will include project and corporate finance, development, and real-estate related topics using HBS case studies from various parts of the world.

According to the organizers of the seminar, it is being held in response to India’s increasing participation in the globalization of real estate. The seminar will run from June 17 to June 20, 2008. Read More »

Malaysian co picks up 60% stake in MAK Group project

Sunway City Berhad, part of the USD 1-billion Malaysian Sunway Group, has picked a 60% equity in a joint venture with the Hyderabad-based MAK Group for a Rs 3.5-billion high-rise realty project.

The Malaysian company will bring USD 5 million as foreign direct investment (FDI) for its equity holding in the joint venture, which a special purpose vehicle (SPV) is called MAK Builders, at present. The venture will develop about two million sq. ft of residential space in the high rise, with sizes of 1,000 to 1,300 sq. ft and price up to Rs 5 million. Read More »

Airport Project to Hit Castor Areas in AP

The booming real estate of Hyderabad has brought a bad time for the agriculture sector in the city. The new airport project at Shamshabad has hit the castor crop field in Mahboobnagar, which leads in castor area in Andhra Pradesh.

Out of the normal area of 1.42 lakh hectares, castor has been in 1.24 lakh ha during the Kharif season, which ended earlier this season. Read More »