indian real estate: TATA COS TO SET UP LOGISTICS PARKS
- 05/25/09 06:10 PM
Tata Group firms Drive India Enterprise Solutions and Tata Realty and Infrastructure plan to set up logistics parks across the country with an investment of Rs 2,000 cr, which will mark their foray into the sector. The two companies would set up 7-8 logistics parks with a total warehousing space of 38.5 million sq.ft in the next 4-5 years.
Courtesy:- BS dt:- 23-05-2009 … (0 comments)
indian real estate: SAFEXPRESS TO INVEST RS 1 K CR IN 4-5 YRS
- 05/25/09 06:09 PM
Supply chain and logistics player Safexpress has said it plans to invest Rs 1,000 cr in the next four-five years in setting up logistics parks, expanding its fleet and opening more offices across the country. Of the total amount, around Rs 600 cr would be spent on setting up 32 logistics parks across the country.
Courtesy:- BS dt:- 23-05-2009
… (0 comments)
indian real estate: UNITECH SELLS A FOURTH OF ITS LAUNCHED PROJECTS
- 05/25/09 06:08 PM
The Delhi-based firm has sold over 2,000 residential units Unitech Ltd, the country's second-biggest real estate developer, has sold more than aquarter of its launched projects in the first two months of the financial year as it tweaked its product mix and lowered prices.
The Delhi-based company, which had launched 9 million square feet of residential space, has sold 2.5 million square feet (over 2,000 units). The developer has been able to garner as much as Rs 850 crore from the sale, according to a presentation the developer made to its investors earlier this month.
Six years after selling off its housing finance to IDBI, the Tata Group is again foraying into home finance. Tata Housing Finance Company Ltd (THFCL), a wholly-owned subsidiary of Tata Capital, would be focusing on tier-II and tier III cities for financing homes.
The housing finance company was set up with an authorised share capital of Rs 100 crore, of which Rs 10 crore has already been subscribed, said Praveen P Kadle, managing director, Tata Capital.
THFCL is targeting Rs 200 to Rs 400 crore in … (0 comments)
indian real estate: PARSVNATH, OMAXE PLAN QIP ROUTE
- 05/22/09 12:11 AM
Cash-strapped Delhi-based property developers Parsvnath and Omaxe have initiated moves to raise at least Rs 1,000 crore each by way of share sales to qualified institutional buyers, hoping to capitalise on the recent success of their peers in raising funds, officials at the two firms said. Senior executives at the two companies, who asked not to be named, said separately plans were being firmed up by them to raise between Rs 1000-2000 crore each through the qualified institutional placement (QIP) route. The two firms did not respond to separate ET queries asking them to comment on any QIP plans, although … (0 comments)
indian real estate: WHY CBSE SHOULD APPEAL AGINST DELHI HC JUDGMENT ON SERVICE TAX ON RENTING PROPERTY
- 05/22/09 12:10 AM
Conceptual clear thinking is at stake. Also at stake is substantial revenue. A very recent judgement of the Delhi High Court holding that renting of immovable property is not service is now of great importance since it will set precedence for other services to get similar judgment that they are not service.
Section 65(105)(zzzz) of Finance Act 1994 reads "to any person, by any other person in relation to renting of immovable property for use in the course or furtherance of business or commerce". The High Court has held that service tax is value-added tax and since there is … (0 comments)
indian real estate: NEW STYLE OF LIVING
- 05/19/09 05:39 PM
Till a few years ago, living in an apartment in Delhi was probably not as much in demand as it is today. With the rise in options for the consumer from all strata of the society and the need of a modern lifestyle, looks like the trend of condo and apartment living is here to stay
Gone are the days when having a home in Delhi meant having a bungalow or a kothi, if you may. With changing times and an increase in population and rising land prices, the trend of living in condominiums and apartments is no more … (0 comments)
Strong response from institutional buyers has prompted the promoter family of India's largest real estate company DLF to raise the shareholding it had put up for sale from 100 million shares or 6 per cent to 168 million shares or nearly 10 per cent to raise Rs 3,850 crore from qualified institutional investors, including foreign investors.
The process, which is being overseen by Deutsche Bank and JP Morgan, started late Tuesday evening and is expected to close before the stock market opens on Wednesday.
The price … (0 comments)
indian real estate: FUND-RAISING BY DLF UNITECH DOESN'T BETRAY GROUND REALTY
- 05/19/09 05:36 PM
The battered real estate sector may be seeing some glimmer of hope for the first time in about a year after two of its biggest names managed to raise cash by way of equity sales in recent weeks, but analysts warn it's still not time to call an end to the sector's travails and the real change will be felt only when private equity feels confident to return to the sector.
Promoters of India's largest real estate company DLF sold a 9.9% stake to raise Rs 3,890 crore last week, while Unitech closed a qualified institutional placement (QIP) … (0 comments)
Appaswamy Group's premium project Triumph in Chennai is targeted at upper middle segment
IT was launched 18 months ago at Rs 4,800 per sq ft, when the guideline value in the Vadapalani (Chennai) area was hovering around Rs 4,000. The 108-unit premium residential project from Appaswamy Group - Triumph - now has only eight units left for sale priced at Rs 5,000 per sq ft.
Located near Radha Park Inn, off Vadapalani, in a bustling area, the facade of the project is quite attractive, catching the eye of passers-by. The Rs 70-crore project on 26 grounds (1 … (0 comments)
The Tatas have entered untapped low-cost housing with ambitious growth plans, perhaps inspired by management guru C.K. Prahalad, the author of "The Fortune at the Bottom of the Pyramid" who played a role in the launch of the Ginger chain.
Tata Housing, a subsidiary of Tata Sons and the group's real estate arm, has launched Shubh Griha, whose first project is coming up on a 67-acre patch at Boise, an industrial … (0 comments)
After infusing Rs 3,860 crore into DLF Assets Ltd (DAL) by selling a 9.9 per cent stake in realty major DLF to institutional investors this morning, promoters K P Singh and family plan to list the real estate investment trust in the next 18 to 24 months, Rajiv Singh, vice-chairman of DLF Ltd, said.
The group also plans to nearly halve DLF's debt from Rs 13,958 crore to Rs 7,000 crore by the end of the current financial year by selling around Rs 5,500 crore worth of assets and raising … (0 comments)
indian real estate: Realistic prices boost flat bookings, show revival hopes
- 05/13/09 10:41 PM
EARLY SIGNS of deal-making in apartments during the first quarter of 2009 show a possible revival of demand in the real estate sector, say some analysts. A study conducted by real estate research firm Prop Equity in Mumbai, Bangalore, Chennai, Hyderabad and Gurgaon says absorption has been high among the residential new launches in the first quarter of 2009 in Mumbai, Chennai and Gurgaon, where developers had offered discounts and reduced flat sizes to lure buyers. But absorption is less in Bangalore and Hyderabad where developers launched few projects on account of oversupply "Mumbai has seen a rise . in … (0 comments)
Billionaire KP Singh and family, the promoters of India's largest real estate company DLF, are close to finalising a deal with some foreign and domestic institutional investors that might fetch them around Rs 3000 cr, said people familiar with the negotiations. At Thursday's closing price of Rs 245, this would mean offloading a little over 7% stake.
DLF CFO Ramesh Sanka denied the promoters had any plan to sell stake. But people familiar with the matter said Deutsche Bank has been given the mandate and … (0 comments)
indian real estate: REAL ESTATE STOCKS BOOM
- 05/13/09 10:38 PM
Real estate companies are on a roll on the bourses. In less than two months since the BSE sensex saw its 2009 bottom on March 9, price of six realty stocks on the BSE have more than doubled (see table) while price of 26 stocks have gained over 50% during the same period. Compared to this, the BSE sensex has gained about 46%.
On an aggregate basis however, investors in these stocks have made just about Rs 31,000 cr during this period with combined market capitalisation of 54 listed realty stocks at Rs 77,400 cr.
While analysts said … (0 comments)
indian real estate: DLF to launch more mid-income projects
- 05/10/09 10:39 PM
BS REPORTER Mumbai, 1 May DLF, the country's largest real estate developer, plans to launch more mid-income housing projects in Kochi, Bangalore and Hyderabad, among other cities, and divest stakes in some hotel projects to generate liquidity in the current fiscal, a top company official has said. The company's net profit has fallen 93 per cent in the fourth quarter of 2009, due to slowing sales and price cuts it offered to customers. "Somewhere, prices and rates had gone very high but now things are fine. There is sufficient demand for homes if you price them correctly. We have proved it … (0 comments)
indian real estate: REALTY STOCKS SURPRISE GAINERS
- 05/08/09 05:27 PM
Major construction-related stocks led by realty giant DLF, Jaiprakash Associates, HDIL, IVRCL Infra and Indiabulls Real Estate helped increase investor wealth by $1.5 billion as around 50 shares representing the sector rose by an average 4.7% on Thursday as the benchmark index rescaled 10000 peak.
This surprised market men as they see no new reason for construction-related stocks, especially real estate, to go up as challenges confronting these companies remain. However, the investors and traders at the markets were bullish on real estate as the BSE Realty index, (which is down 21% for the year), gained 150 points or … (0 comments)
indian real estate: REALTY SLUMP HITS TRIKONA CAPITAL, TO BE WOUND UP
- 05/08/09 05:26 PM
The slump in the real estate market has caused investors in the £250 million Trikona Capital, the India real estate fund of Trikona Trinity Capital, to demand that its fund managers "dispose of all its assets in an orderly fashion". Trikona Trinity Capital is listed on the Alternative Investment Market (AIM) on the London Stock Exchange
This is the first time foreign hedge fund investors have asked managers of a real estate fund to exit Indian investments. A couple of months ago, KSK Emerging Indian Energy Fund had to be wound up after shareholders, which included large hedge funds, … (0 comments)
Major construction-related stocks led by realty giant DLF, Jaiprakash Associates, HDIL, IVRCL Infra and Indiabulls Real Estate helped increase investor wealth by $1.5 billion as around 50 shares representing the sector rose by an average 4.7% on Thursday as the benchmark index rescaled 10000 peak.
This surprised market men as they see no new reason for construction-related stocks, especially real estate, to go up as challenges confronting these companies remain. However, the investors and traders at the markets were bullish on real estate as the BSE Realty index, (which is down 21% for the year), gained 150 points … (0 comments)
Robert Tor Russell, is remembered for his most accomplished work, the great circus of Connaught Place. Well, today, his creation has fallen on bad days, thanks primarily due to the market downturn, as demand for commercial space in and around the vicinity of CP has taken a nosedive.
As the demand for commercial space has fallen flat, rentals have gone down, even up to 20% during the last three-four months. Realty experts say prestigious buildings like Statesman House, International Trade Centre and Ambadeep building are … (0 comments)
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