September 2010

Pune Realtor to Invest 1000 Cr in IT-SEZ

by Paul Joseph September 21, 2010 Uncategorized

The IT and ITES segment appears to have recovered sufficiently for developers to venture again into it. Pune-based Kumar Urban Development will build an IT-SEZ project on 13.5 acres near the first phase of the Rajiv Gandhi Info Tech Park there. Another 13.5 acres have been earmarked as non-processing at the same location. The entire project entails an investment of Rs 1,000 crore and in the first phase the company will invest about Rs 400 crore. All clearances for the proposal have been received. In the first phase, about 1.8 million sq ft will be developed, of which 4 lakh sq ft will be operational by Q3-2011. Kumar Urban was keen to make the SEZ cost-efficient for its clients, said Lalitkumar Jain, chairman and managing director of Kumar Urban. The LEED certified project hopes to create a work environment for 18,000 people and has been planned on the lines of successful tech parks abroad. On project funding, Jain said he had tied up with local financial institutions for the construction component. Asked whether the business environment was conducive for an IT park, given that quite a few leading developers had sometime back sought de-notification of their IT-SEZs fearing slump in demand, Kumar said Pune had seen about 2 million sq ft of IT space being leased out in the last six months. The project will be part of a 120-acre land parcel which the company owns. Further expansion will depend on demand, he said.

Tagged as: business, mumbai, property prices, pune, real estate developers, special economic zones

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Indiabulls Sky Suites South Mumbai "Lower Parel"

by Paul Joseph September 21, 2010 Uncategorized

NO EMI HURRY ! NO EMI TILL POSSESSION A World of Luxury Coming up next to Indiabulls Sky, Indiabulls Sky Suites is a high-end tower of managed private residences with a lifestyle elevated up to the sky Project Overview Each Suit at Indiabulls Sky Suites will come attached with a large private terrace garden blooming with exotic plants. For interiors, we offer you 3 exquisite styles for each suite to choose from. Needless to say, the styles are in tune with your sophisticated tastes. And then of course, there’s the impeccable butler service to meet your every request and whim with style, comparable to the best in world hospitality. Amenities Parking Valet Parking Car Elevators Guest Parking Tech Facilities State of Art Multi Tiered Security Systems Conveniences Creche and day care Convenience Store Property Management Housekeeping Maintenance Staff Laundromat Health N Fitness Health Club With an attached clinic Gym, Spa, Yoga, Aerobics & Meditation Sport centre, Tennis, Badminton Squash, Jogging Indoor Spaces : Art and Craft Area, Hobby Centre Landscaped Spaces Foodzones Club House Multipurpose Hall Open Air Café About Deveoper Indiabulls Real Estate Limited with projects covering a total land area in excess of 10000 acres is one of the largest listed real estate companies in India and a leading national player across multiple realty and infrastructure sectors. IBREL projects include High-end Office and Commercial Spaces, Premium Residential Developments, Integrated Townships, Luxury Resorts and Special Economic Zones. IBREL is partners with internationally renowned consultants and construction companies for its developments at various stages of execution. Indiabulls Group is one of the top business houses in the country with business interests in Real Estate, Infrastructure, Financial Services, Retail, Multiplex and Power sectors. Indiabulls Group companies are listed in Indian and overseas financial markets. The Networth of the Group exceeds USD 2 billion. Indiabulls has been conferred the status of a “Business Superbrand” by The Brand Council, Superbrands India. Indiabulls Financial Services is an integrated financial services powerhouse providing Consumer Finance, Housing Finance, Commercial Loans, Life Insurance, Asset Management and Advisory services. Indiabulls Financial Services Ltd is amongst 68 companies constituting MSCI – Morgan Stanley India Index. Indiabulls Financial is also part of CLSA’s model portfolio of 30 Best Companies in Asia. Indiabulls Financial Services signed a joint venture agreement with Sogecap, the insurance arm of Societé Generale (SocGen) for its upcoming life insurance venture. Indiabulls Financial Services in partnership with MMTC Limited, the largest commodity trading company in India, is setting up India’s 4th Multi-Commodities Exchange. Booking Open Call Our Indiabulls Sales Partner – InvestInnest.com 120-4207236, 9717841117

Tagged as: companies, consumer, country, financial, house, infrastructure, retail

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Retailers Focusing on Small Cities and Towns

by Paul Joseph September 20, 2010 Uncategorized

Indian retail juggernaut, which began rolling towards smaller cities and towns a few years ago, has gathered momentum as retailers are now going whole hog to make a killing. Changing demographics, higher disposable income and improved agri-produce realisation have made smaller cities and rural areas the future hotbeds of growth. And Indian retailers are in no mood to miss out on this big, untapped growth opportunity. So, from customising collections and keeping a wider entry-level merchandise mix to leveraging local franchisee know-how and opening more outlets, retailers such as Future Group, Shoppers Stop, ITC Wills Lifestyle and Spice Hotspot are trying every possible permutation and combination in their effort to rake in moolah. “Disposable income in smaller towns has risen significantly in the recent past as they were largely unaffected by the slowdown,” said Kumar Rajagopalan, CEO, Retailers Association of India (RAI). The rush towards smaller towns is triggered mainly by the low availability of property at right prices in the big cities, feels Mr Rajagopalan. Retail chain Shoppers Stop will open over 12 stores in smaller cities by year-end. The K Raheja-promoted company, which has positioned itself as a “bridge-to-luxury” brand, will open department stores in cities such as Ahmedabad, Aurangabad, Jalandhar, Ludhania, Mysore and Vijayawada with an investment of Rs 120 crore. “Before we enter smaller cities like Amritsar, Bhopal and Aurangabad, we already have loyalty customers there, courtesy people from those locations who have shopped in nearby metros,” said Shoppers Stop vice-president (marketing & loyalty) Vinay Bhatia. Shoppers Stop stocks a smaller assortment of bridge-to-luxury products in such smaller markets, at about 5-10% of the total merchandise as compared to big cities where it’s about 15-20%. “Our experience also tells us these cities have a lower working women population and less occasions to wear formalwear. So we have more casualwear and a bigger ethnic mix in these stores,” adds Mr Bhatia. Future Group is planning to enter 10-12 towns every year. About 15-20% of the product mix in smaller stores of India’s largest retailer is customised to the regional requirements of the market. “This mostly happens in food, ethnic apparel, general merchandise and home products,” said Rakesh Biyani, CEO, retail, Future Group. ”It allows us to build a connect in smaller cities. Sales per sq ft may be lower than the cities, but then the costs are lower too. As we adopt a cluster approach for expansion, these cities will become more lucrative,” said Mr Biyani.

Tagged as: cities, gurgaon, india, real estate, real estate developers

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Godrej Believes that RBI’s Rate Hike Won’t Affect Real Estate Sector

by Paul Joseph September 20, 2010 Uncategorized

The Reserve Bank’s decision to raise its key short-term rates will not have any impact on the realty sector, a top industry player said. “Presently in the real estate sector, demand is exceeding supply, so I see no problem,” Godrej Group’s Chairman, Adi Godrej, told reporters at an event organised by the Gujarat Institute of Housing and Estate Developers (GIHED) here. As a part of its first mid-quarterly review of monetary policy, the RBI had raised its key short-term lending (repo) rate by 25 basis points and borrowing (reverse repo) rate by 50 basis points to six and five per cent, respectively. The rate hikes are aimed at combating inflation now at a high 8.5 per cent, he said. The rate hikes will also not impact credit flow adversely, the industrialist said. “Credit is available and I don’t see this RBI decision having any effect on credit availability,” he added. On the consumer durables segment, he said, the sector is growing by 25-30 per cent and will grow further during the festive season. Asked if prices of some products were likely to rise going forward, Godrej said that prices of some products like soap could see a northward movement due to a rise in raw materials costs. “(Prices of) some products like soap may go up in the region of five per cent as cost of raw materials like vegetable oils have gone up,” he said.

Tagged as: basis-points, godrej, gujarat, real estate developers, real estate trends, special economic zones

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Azure to Invest in Mumbai Re-Development Projects

by Paul Joseph September 20, 2010 Uncategorized

Azure Capital Advisors, a Bangalore-based venture capital firm, has launched a new realty fund which would invest in Mumbai re-development projects and other mid-sized real estate projects in the country. Speaking to Business Standard, Deepak Kumar, investment officer, Azure Capital Advisors, said that the company has floated ‘India Realty Fund I’, which is registered as a venture capital fund with the Securities and Exchange Board of India (Sebi). “We have raised Rs 80-90 crore from our own network and will raise another Rs 110-120 crore by September 30,” he said, adding that the fund’s focus would be on the re-development projects in Mumbai, mid-size residential projects in south India, Gujarat and Maharashtra. Launched by professionals who were earlier with Aditya Birla group, IDFC, Infosys and other companies, the company plans to raise Rs 500 crore by the end of this year. Among others, it has Chandrashekhar Prabhu, former president of Maharashtra Housing and Area Development Authority (MHADA) and chairman of the advisory committee of the department of housing in Maharashtra government. Kumar said that his firm expects to conclude 10-15 deals through this fund with housing societies in Mumbai. The company has identified Chembur, Andheri and two more locations in the city. “We will offer finance and would bring in eco-system partners including construction companies, architects, investors and buyers to the table, while the societies would bring in land bank,” said Kumar. “Redevelopment projects give good returns and have less risk and competition since the process is complex and needs more expertise.” The company plans to focus on cities which house corporates operating in the knowledge sector. The cities on Azure’s radar include Chennai, Coimbatore, Bangalore, Surat and Ahmedabad. “We will tie-up with corporate houses, who in turn will give incentive for performing employees, by which the employees will save around 10-15 per cent of the total property cost,” said Kumar. “Our focus is on projects which can come up in 4-10 acres, primarily small/mid-size deals with limited project risk and an investment of Rs 10-25 crore,” Kumar said.

Tagged as: bangalore, bangalore-based, companies, real estate, real estate india, real estate trends, securities

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35% Hike in Ahmedabad Property Prices Post Recession

by Paul Joseph September 20, 2010 Uncategorized

About a year and a half ago, recession in the city realty market had builders and buyers alike, worried. However, about a year since the first signs of recovery in June 2009, realty in Ahmedabad is back and booming. In fact, property prices in the city have inched up by nearly 35%. The high economic growth and rate of urbanisation, along with the improvement in infrastructure in the state, have been catalysts in the growth of the real estate market. And the boom is not restricted to the western side of the city alone – properties across the city, irrespective of location, have witnessed a steep rise in prices. However, Ahmedabad had been anything but spared by the global meltdown. The property market in the city had been considerably hit by the recent economic slowdown. But property prices started moving northwards in June 2009. “If you compare the pre-slowdown prices with the present ones, there has been an increase of about 22-25%. However, if you consider the cumulative rise in prices since the worst phase of the downturn, the increase has been almost 35%,” said Suresh Patel, GIHED president. He said that the property prices in the city went down by around 12-15% due to the recession, and it took around four-five months for the prices to get back to the pre-slowdown level. “After that, they have increased by around 22-25%,” said Patel. Online real estate service provider company Makan.com’s property index shows that realty prices in Ahmedabad have grown by 36.8%, compared to the national average of around 18.6%, between June 2009 and June 2010. Jaxay Shah, president of the Confederation of Real Estate Developers Association of India (CREDAI) – Gujarat, also acknowledged the same and said that the higher GDP rate in the state and the infrastructure available have lent a boost to the market. There still remains a lot of scope for the real estate industry in Ahmedabad, he said. Realtors believe that better living conditions could be making Ahmedabad a viable alternative to Mumbai.

Tagged as: india, infrastructure, property prices, real, real estate india, real estate trends, recession, the-city

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Real estate developer Ashoka Buildcon Sets Price Band of 297-324 Rs Share for its 2.25 bn IPO

by Paul Joseph September 20, 2010 Uncategorized

Real estate developer Ashoka Buildcon has set a price band of 297-324 rupees a share for its 2.25 billion rupees initial public offer (IPO), a newspaper advertisement said on Monday. The subscriptions to the IPO will begin on Sept 24 and close on Sept 28, it said. Enam Securities and IDFC Capital are the lead managers to the offer while Motilal Oswal Investment Advisors is the co-lead manager.

Tagged as: billion-rupees, investment, property prices, real estate india, securities

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Hike in Key Policy Rates will Affect Developers as well as Consumers- Realtors

by Paul Joseph September 18, 2010 Uncategorized

Realty firms and property consultants on Thursday said both consumers and developers are likely to be affected by the hike in key policy rates by RBI as loans would become dearer, though the impact would be marginal. “It (hike in repo and reverse repo rates) will affect lending to the developers to some extent,” Global realty consultant Knight Frank Chairman Pranay Vakil said. He said the hike, which came into effect on Thursday, will also have impact on customers who have availed home loans. “For the young people, loan repayment period will increase while EMIs will remain same (while) for old people EMI will increase marginally,” Vakil said adding demand for real estate too would be impacted “marginally”. Raheja Developers’ Managing Director Naveen Raheja too said the RBI’s move would impact both companies and consumers. “Cost of money will increase for the end user as well as developers,” he said. However, Ansal Property and Infrastructure Ltd’s Vice-Chairman Pranav Ansal said the “small hike” would not have much impact either on prices or demand in the sector. On the other hand, DLF Group Executive Director Rajiv Talwar said his firm was awaiting for the response of the banks on the RBI’s credit policy. “We hope banks will not increase the interest rate on home loan so that growth momentum is given a boost,” he said. Parklane Property Advisor’s MD Akshay Kumar also opined that the increase in key lending and borrowing rates would have marginal impact on the sector. Home, auto and corporate loans are likely to become expensive from October, with bankers on Thursday saying that interest rates may be hiked next month in response to the RBI raising policy rates to tame inflation. RBI on Thursday raised short term lending (Repo) rate by 0.25 percentage points to 6 per cent and borrowing (Reverse Repo) rate by 0.50 percentage points to five per cent to tame inflation.

Tagged as: delhi, director, faridabad, mumbai, pune, real estate, real estate india, real estate trends

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Bangalore property in form of business

by Paul Joseph September 17, 2010 Uncategorized

Why am I explaining here on day business when my job is property? Perhaps the same errors arise in both zones. In Bangalore property , tiny by tiny investing is an element of every day life at present for lots of citizens. Day business has ongoing quite a few years back with the arrival of the internet. It turned into so rampant condition of Bangalore real estate that converted to exploit by day brokers. I confess to identify nothing regarding day business other than it appears very risky for any beginner. It is in the identical grouping as hawking “zilch down” property in Bangalore to the groups. In no doubt, it can be prepared, but how does an individual that creates things by day calculate the danger of investing in Bangalore property by night, as a diversion? Do they recognize their whole net worth could be at menace by not sticking to the “special” directives on page 232 of Guru’s #21215″s playbook? Observe that roughly anytime the central government tries to do incredible Bangalore real estate market speedily the effects are risky. The equal holds accurate for investing in real estate in Bangalore. As a permanent proficient, there are “transactions” that appear to my concentration each day. One or two, throughout a year, needs rapid achievement.

Tagged as: central, internet, real estate

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India can Face Housing Shortage by 2012- Ernst and Young

by Paul Joseph September 17, 2010 Uncategorized

p> India will face shortage of over 26 million houses by 2012, which would lead to spurt in housing prices as demand-supply gap widens amid rising purchasing power of the middle class people, a consultancy firm has said. “With India back on a high growth trajectory, demand for commercial and residential space is likely to witness an upward trend,” consultancy firm Ernst and Young said in a report. Demand for residential property is rising sharply because of growing young working population, increasing urbanisation, declining household size resulting in more nuclear families with growing household income and improved availability of loans. Co-chairman of FICCI Real Estate Committee Pranay Vakil said over $1.2 trillion investment was needed to meet the rising demand for urban development. He said that the urban population in India would nearly double to 600 million in the next 15 years from nearly 350 million now, and this would put massive pressure on urban infrastructure, including roads, power and water supply. Dean Hodcroft, partner-head of real estate for Europe, Middle East, India and Africa at Ernst and Young, said India needed institutional reforms to attract more investments in infrastructure development projects. He said the country’s macro-economic fundamentals were in great shape and it was poised to reap huge benefits of growth. “India needs to fix the institutions to attract more private investments, including foreign investments,” he said. Comparing the investment climates in India and China, Hodcroft said: “While it is easy for investors to get into China, it is extremely difficult to get out. In contrast, it took time for foreign companies to enter India, but exiting is comparatively much easier.” He noted that India was lower ranked in areas that were easy to fix.

Tagged as: china, country, gurgaon, investment, kolkata, middle-east, mumbai, noida, real estate, real estate developers, real estate india, urban

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