Latest Property News on 'Retail Market in India'

PE Money coming in Full flow into Indian Realty

The private equity (PE) graph in India’s real estate sector is growing as high as its skyscrapers. The first five months of 2008 has PE commitments in Indian real estate companies surpassing the total PE investments committed in the whole of 2007—that is $3 billion.

Experts say PE funding in the second half of the year will be even more. This is a good time for PEs to invest as there is a liquidity crunch and valuations of many real estate players are down. PEs also expect a further lowering of valuations, somewhere in the tune of another 20%. Even as private equity money comes into the market, there are concerns among investors about the execution capabilities of many of developers. Read More »

CENTURY 21 Real Estate LLC Expands into India

Century 21 Real Estate LLC has announced that it has signed a master franchise agreement to open CENTURY 21® franchises in Greater India. Dr. Devinder Kumar Gupta and others have partnered to become the master franchisee of the CENTURY 21 System for five regions in India, including Bangalore, Chennai, Delhi, Hyderabad, and Mumbai, operating as CENTURY 21 Greater India.

“Considering India’s emerging economy and healthy real estate market, this marks a tremendous milestone for the CENTURY 21 System and we are thrilled to work with Dr. Gupta and his team to establish a CENTURY 21 brand presence in this area,” said Tom Kunz, president and chief executive officer, Century 21 Real Estate LLC. “It’s an honor for the CENTURY 21 brand to be an integral part of the real estate landscape in India for years to come. We will work to provide the utmost in value and support to the CENTURY 21 Greater India team.” Read More »

Organized Retail to Capture 25 PC Markets by 2011

In a surprise finding that organized retail is growing faster than expected in India, a study has forecast that this segment could account for a quarter of the total retail revenues by 2011 from the current 8 per cent share.

The study has been done by accounting firm Deloitte Haskins and Sells. India’s retail industry, both organized and unorganized, is worth $295 billion at present. A February study by Mumbai-based brokerage Edelweiss Capital had said that organized retail would form 15 per cent of the retail sales by March 2011 from 4.1 per cent now. But Deloitte’s study says that organized retail grew at a scorching pace in 2007, going to 8 per cent of total retail sales from 5 per cent in 2006. Read More »

Nirula`s to dish it out across India

Nirula’s, a restaurant-chain that has a presence primarily in the northern region, is planning a nation-wide expansion with an investment of Rs 200 crore in the next three years.

The company embarked on an expansion drive when the Nirula’s family, that started the chain in 1934, sold its business to private equity fund Navis Capital Partners and Samir Kuckreja, a hospitality professional. Read More »

Retail Real Estate in India to See up to $10 Bn Investment

Developers and private equity players are set to put India’s retail space market on full throttle with investments worth anywhere between $5 billion and $10 billion in FY09-FY10.

In moves that would lend retail space gigantic proportions, the Runwal Group and Singapore’s GIC will use a joint venture to launch a ‘Our City Centre’ retail mall over 1.1 million sq ft of area in Ghatkopar, Mumbai. In the second phase of their foray, they will develop another ‘Our City Centre’ over 7 million sq ft of area in Hyderabad. Mumbai-based ICS Group is their project advisor. Read More »

Delhi hot favorite retail destination in India

With the Indian retail industry poised to become a $637 billion sector by 2015, the capital city is emerging as the largest consumer market in the country consisting of a booming middle class. Delhi has the highest concentration of households with an annual income of $110,000 and per capita income more than double the national average.

“Delhi is a destination for shopping across India besides its own consumption appetite. It is the principal business and commercial centre in northern India, well complemented by industrial areas in the National Capital Region,” Minister of State for Industry Ashwani Kumar said at a symposium organized by the Confederation of Indian Industry (CII) here. Being the biggest consumption zone in northern India, Delhi has also emerged as a distinguished centre for trade, he said. Read More »

Trident Unveils India Plans, Launches First Lifestyle Store

Trident Group unveiled its designs for the Indian retail market, with the launch of its first lifestyle store in Chandigarh. The $375-million Trident Group announced plans to open 30 retail stores within one year and set up a chain of 300 lifestyle stores within three years.

Trident Homescapes will sell the company’s towel brands and later will offer other home products from bed sheets to imported designer glasses. “We want to create a niche market in the Indian retail sector for towels. The trend for buying towels like other clothes of various brands is not there,” Trident Group retail head Sugato Bose said.

M&S Expands in India, with Plans for 50 New Stores

Marks & Spencer, the quinte0073sentially British high-street retailer, is piling into India as it looks to take advantage of the country’s burgeoning middle class and boost revenues from overseas sales. M&S is to invest almost £15m in a joint venture with local group Reliance Retail, to help establish M&S as a “major retail brand in India”.

The group first opened in Delhi in 2001 and now operates 14 stores in the region. An M&S spokeswoman said: “We earmarked India as it is a developing market with a growing middle class.” Read More »

Sahara Enters Southern India Real Estate Market

Sahara with its real estate business enters Southern India with the launch of its Sahara Grace brand of residential complex at Kochi. After Sahara Grace at Gurgaon and Lucknow the Kochi project is the third under this brand which is positioned to provide a product mix of apartments and penthouses and many value-added facilities & amenities to its residents.

Speaking about Sahara’s presence in the southern region and announcement of Sahara Grace, Sushanto Roy, Head – Sahara’s Real Estate Business said, “Today is a memorable moment and a matter of pride for us, as we announce our first project in southern India. We are also planning to bring our other brands of real estate projects to South India.” Commenting of Sahara Grace, Kochi he said, “Sahara Grace Kochi has been planned to provide residential units with lifestyle community facilities.” Read More »

India preferred emerging Market for retailers: CBRE

India is the most sought-after market by retailers with 40 per cent of them expecting emerging markets to be their source of growth in the next five years, a recent study by CB Richard Ellis says.

As per the Global Emerging Markets Survey (GEMS) 27 per cent of international retailers surveyed have opened their first store in India in the last year or are planning to do so soon. Read More »