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india: DELHI, HARYANA, BENGAL PLAN TO INSURE LAND TITLE - 04/28/08 06:23 AM
Delhi, Haryana, West Bengal, AP and Orissa are planning to insure land titles in their respective states. Land title insurance is an indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. It is meant to protect an owner's or lenders financial interest in real property against loss due to title defects, liens or other matters.
A one-time premium in this regard will be shared by the state governments and the primary lending institutions to provide land title insurance. According to industry analysts, many land deals fall through and … (2 comments)
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india: RLYS TO SEEK BIDS FOR DEVELOPING VACANT LAND - 04/26/08 08:13 AM
Indian Railways plans to invite bids from real estate developers to set up commercial complexes on its vacant land, as part of efforts to increase revenue. In a written reply to Parliament, minister of state for railways R Velu also said private investment would be sought to modernise 26 major stations. The ministry has set up Rail Land Development Authority for commercial development of vacant railway land for generating revenue. "As per current thinking, railway land is to be given to developers for commercial development through transparent bidding process on long term lease basis for development work without any budgetary resources," … (0 comments)
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india: THE LAND BANK AGAIN, AND THE BENEFICIARY'S SHREE PRECOATED - 04/26/08 01:57 AM
The counter of Shree Precoated is witnessing sustained investment-based buying by investors. The buzz is that the company is going to register good numbers. Analysts say the company is expected to report a PAT of about Rs 240-250 crore on revenue of Rs 2,000 crore for FY2007-08. The company is looking to develop its 67 acres Kanjuurmarg property, which it had acquired for Rs 42 crore about 30 years ago. The current market value is estimated to be about Rs 4,000 crore. The total cost of the project would be to the tune of Rs 5,000 crore and would generate a … (0 comments)
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india: Tidco, DLF Ink MoU for ITS Zone - 04/25/08 12:33 AM
Chennai the Tamil Nadu Indusstrial Development Corporation (Tidco)and New Delhi-based real estate developer DLF Building India signed a memorandum of understanding (Mou) in Chennai on Wednesday to develop an IT SEZ at suburban Taramani at a cost of Rs1,500 crore. According to a state government release on Wednesday, the new SEZ will generate employment opportunities for Rs 45,000 people directly, while another 10,000 jobs will be created indirectly. The new SEZ is expected to come up in an area of 45 lakh sq. ft. The first phase of the constructon work on the scond phase (over 20 lakh sq ft) would … (0 comments)
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india: MLD TO INVEST $4.5 B IN RESIDENTIAL PROJECTS - 04/23/08 05:12 AM
Mahindra Lifespace Developers (MLD), the real estate arm of $4.5-billion Mahindra Group, would invest close to Rs 800 crore in its six upcoming residential projects in Mumbai, Pune, Chennai, Delhi and NCR over the next 2-3 years, reports Pramugdha Mamgain from New Delhi. With the launch of its residential project in Faridabad recently, the company entered the real estate market of North India. The real estate firm is targeting a turnover of Rs 1,000 crore in the next five years against Rs 163 crore in 2006-07. So far, the company has completed projects in Mumbai, Pune and Chennai and is now … (1 comments)
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india: L&T GETS LAND FOR RS 3500 CR MUMBAI PROJECT - 04/22/08 06:21 AM
The property division of engineering and construction company Larsen & Toubro was on monday given possession of the land for commercial complex of seawoods Darave railway Station at Navi Mumbai the venture with the ity and industrial development corporation of maharshtra cideco, o ver 40 acres is estimated at the 3500 cr is to be develk9oped over thre yesra. This involes developing between foru and ive million saft of commercial space of office complexeds shopping malls star-hotels, multiplexes and service apartments. l&t baged the development rights for rs 1,809 crore in feb this year, outbidding other biggies such as DLF and … (0 comments)
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india: LEGAL OPINION SAFEGUARDS FROM DISPUTES - 04/21/08 05:35 AM
ISSUES THAT A LEGAL OPINION COVERS IN PROPERTY TRANSACTIONS
Getting a legal opinion is important during acquisition of any property. This is an integral part of the property acquisition process. The purchase of property is a complicated process. This is compounded by the fact that each State has its own systems of acquisition and transfer of property. The land records are generally in the local language. Going through the property documents is not easy.
You need to go through a host of documents to trace out the ownership of the property. Although the purchaser can do an initial review of the … (1 comments)
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india: GROWTH OF INDUSTRIAL RENT HIGHEST IN MUMBAI - 04/16/08 07:32 AM
Mumbai has witnessed the world's highest (94.4%) increase in rentals of industrial space in 2007 from Rs 18 per sq ft per month to Rs 35 per sq ft per month ($10.88 per sq ft per annum). With this, the financial capital of the country leaped 11 positions to be 26th most expensive industrial locations in the world, said a global report on industrial space by real estate consultancy firm Cushman and Wakefield.
The rise in rentals of industrial space at Ranjangaon in Pune and IMT Manesar in the National Capital Region is fourth and sixth highest in the world. In … (0 comments)
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india: LODHA LAUNCHES LUXURY RESIDENCES - 04/16/08 12:38 AM
While there is talk of a demand crunch hitting the real estate industry developers still see prospects ahead, men for luxury Projects. Mumbai-based developer Lodha Group has launched luxury residences branded Lodha Marina at Mumbai's harbour zone of Sewri. With close proximity to Worli, Prabhadovi and Lower Parel, easy connectivity to 'Nariman Point, and Bandra-Kurla Complex business districts, Lodha Marina is positioned at the higher and of the market.
… (0 comments)
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india: UNITY BAGS TWO ORDERS WORTH RS.221 - 04/15/08 07:16 AM
Unity Infra-projects Limited has bugged Live orders worth Rs 221.85 Crore to build a mall-hotel-multiplex project at Pune for Vamona Developers Pvt. Ltd. at an estimated value of Rs 133.89 crure. In Hyderabad, Unity is building five towers with a basement and a podium at Kondapur for Kondapur Tower Pvt Ltd. The contract is worth about Rs 88.26 Crore.
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india: HIRCO\'S CHENNAI PROJECT REPORTS ROBUST REVENUES - 04/15/08 03:59 AM
Hirco PLC, the investment vehicle of Mumbai-based Hiranandani Developers, has announced that sales of residential units in Phase 1 of its Hiranandoni Palace Gardens township development in Chennai continue to be robust both in terms of volume of units sold and the level of pricing achieved. As of March 31, sales revenues have been received on proximately 15.62.820 square feet at on overage price of RS 3,906 per square foot.
… (0 comments)
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india: OMAXE INCREASES AD BUDGET TO RS 100 CRORE - 04/15/08 12:45 AM
Relieving its budget allocation for the financial year 2008-UH Delhi-based realty player Omaxe Ltd. has outlined its new budget amount for the New Year. The developer plans to push up its ad spend to Rs 100 crore from Rs 80 crore. Hath print and electronic media will be covered by the budget, which could be aimed at boosting demand amid a period of correction in the industry and inflationary pressures in the economy
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india: CLERIDGS HOTELS - 04/14/08 06:15 AM
Cleridges will construct 1500 New Rooms at a cost of Rs.200 crore Group CONDERING TO OPEN HOTELS AT SEVEN PLACES with the entry into foreign markets and planning to expand in few cities of the country, cleridges Hotel Pvt. Ltd. will ad 1500 new rooms in its Hotel by investing Rs 1200 crore within next five years. Cleridges Hotel MD and CEO Peter J.Letgrb told the correspondent here "for investing in property we have a capital of 30 crore dollars. We are planning to open hotels at seven places so that the number of rooms may become from 1000 to 1500.
Letgeb … (1 comments)
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india: SKY-HIGH PROPERTY PRICES - 04/14/08 01:13 AM
PROPERTY PRICES have shot through the roof on MG Road.
For two small shops of 6000 square feet each, shopkeepers now pay something between Rs 1.5 and Rs 2 lakh per month. According to the tenants, there has been an increase of 10-15 percent in the property rates here once the Metro line is ready; landlords say property pries will rise further.
"We did not get any rents for about two years. Now that desealing has taken place, it is natural that property prices are going up," said Vijender Kumar Lohia. But the landlords are also worried about the future.
"What if the shops … (0 comments)
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india: LEHMAN BUYS 40% IN IT PARK - 04/12/08 12:39 AM
Global investor Lehman Brother has picked up a 40 per cent stake in the upcoming IT Park project of property developer Peninsula Land (PLL) in Hyderabad. Lehman is expected to hold the remaining 50 crore into the project. PLL is expected to hold the remaining 60 per cent.
The initial cost of the project, including land, is Rs 125 crore and the development cost is nearly Rs 1,400 crore. The company is planning to fund the project through debt and draw more funds from Lehman if required, sources said.
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india: CITI ARM PLANS $160M BPTP INVESTMENT - 04/11/08 02:49 AM
Hong Kong-based Citi Property Investment, the real estate investment arm of Citibank, is investing $160 million (Rs 650 crore) in Delhi based realty major BPTP to develop four special economic zones in Noida, Greater Noida, Faridabad and Gurgaon, BPTP sources said.
According to sources, a special purpose vehicle has been formed for the purpose. Citi Property Investment holds 40 per cent in the SPV, while the remaining 60 per cent is with BPTP. However, this is not Citi Property Investment's first investment in BPTP. In 2007, the Citi arm picked up 5.89 per cent in the company for Rs 322.50 crore. … (0 comments)
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india: SYSTEMA TO INVEST UP TO $200 M IN REALITY SECTOR - 04/10/08 05:51 AM
MOSCOW: Eyeing huge potential in India's construction and reality market ahead of the 2010 Commonwealth Games, Russian Conglomerate Systema on Tuesday announced plans to develop hotel offices and residential complexes in major cities with an initial investment of $10-200 million. The Russian giant has partnered with Syam Group, which has dievested 51% stake in its telecom enture in faour of Sistema, said Yevgeny Kolodkin, vicepresident (strategy and business development) of Sistema's construction subsidiary. The Systema- Shyam JV would be developing a 22-acre plot in Gurgaon , on the outskirts of Delhi, he said, adding that the land bank is owned by … (0 comments)
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india: EMAAR WILL ESTABLISH FOUR HOTELS AT A COST OF 40 CRORE DOLLARS - 04/10/08 05:48 AM
Dubai Based company EMAAR properties shall establish, in association with Mario International inc., four hotels by investing more than 40 crore dollars.The company informed that these hotels shall be established in New Delhi, Amritsar , Hyderabad and Kolkata . The construction of these hotels is expected to complete by 2010. In all 912 rooms will be constructed in these hotels.
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india: TIVOLI GROUP LAUNCHED HOLIDAY VILLAGE, SPREAD IN 8 ACRE - 04/10/08 02:25 AM
Tivoli Group has Launched Holiday village at Dharuhera near Gurgaon.This project is spread over in an area of 8 acre, and it will consist night club and a mini golf course along will modern amenities. It will provide 536 residential units which will comprise villas, studio apartment and penthouses; their price will be from Rs. 26 lac to Rs. 1.10 crore.
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india: LAND IN GREATER NOIDA JUST GOT COSTLIER, BY 50-60 P.C. - 04/09/08 05:43 AM
For many people the dream of owning property in Greater Noida might end up being just a dream. Land rates in Greater Noida, declared one of the cleanest and greenest urban areas in the country, have been hiked by 50 to 60 per cent.
Greater Noida and Taj Expressway Authority Chairman Lalit Srivastava said, "Greater Noida land rates have been hiked by 50 to 60 per cent in view of hike in land compensation. Residential land rates have been hiked from Rs 6,500 to Rs 10,500 per square metre."
Besides, Srivastava announced major rehauling of Noida and Greater Noida for Commonwealth … (1 comments)
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