real estate companies

Green Tree Homes unveils maiden project ‘Green 201’

by Paul Joseph December 29, 2011 Uncategorized

Green Tree Homes and Ventures, a new property development company launched by a group of architects and designers, has unveiled its first project — Green 201, a residential apartment project at Pudupakkam. The location of the project is close to Siruseri, which is the IT hub on OMR, Chennai’s IT corridor. According to the builders, the project is built according to international standards in Chennai with eco-friendly features juxtaposed with contemporary designs. The 15-storeyed building comes with a garden on each floor. The project offers great view of the surroundings, optimum space utility, no wall sharing between apartments for better privacy and a roof top clubhouse. “With growing urbanisation and ever increasing pollution, it is becoming hard to find a house, where you can find some greenery. Green 201 is a holistically planned and aesthetically designed micro township that promises to offer a wholesome living experience to community living,” said Pon Ravichandran, director of Green Tree Homes and Ventures. “Every home comes with a window garden — with French windows — giving maximum accessibility to air circulation and light,” said Dinesh, another director of the company. The project offers 585 apartments, including two BHK of approximately 1,030 sq ft and three BHK units 1,330 sq ft. “Construction work for two blocks will start in January next year and the rest of the blocks in June. The entire project will be ready for possession in 36 months,” added Ravichandran. The company has offered a launch price of Rs 3,000 per sq ft and it is not charging any additional “floor rise price”, which is the norm with most other builders. There would also be a leaf shaped amphitheatre located at the centre of the five residential towers. Other features of the project include, fully landscaped terrace, rooftop swimming pool, a well equipped gym, tennis and table tennis courts, a senior citizen lounge, meditation zone, ATM and pharmacy. Source: http://www.realtyplusmag.com/rpnewsletter/Fullstory_Newsletter.asp?news_id=17850&cat_id=1

Tagged as: back-to-top, chennai, copyscape, delhi, material-herein, news-archives, news-feeds, noida, real estate companies, real estate india, terms

0 comments Read the full article →

Akshaya Developer Plans to Strengthen its Presence in South India

by Paul Joseph October 20, 2011

Real estate developer Akshaya has chartered out plans for the next five to 10 years with an aim to strengthen its presence in South India. The expansion plan is also part of the city-based firm’s foray into new verticals like developing commercial properties, Information Technology parks, health care and schools. “Next five years to 10 years we will be in these businesses — healthcare, commercial property, retail, schools.. it may be through township projects..” Akshaya Chairman and CEO T Chitty Babu told reporters here. The company was engaged in developing various real estate projects for the last 16 years and predominantly focused on residential units. “We want to be in commercial projects, retail, healthcare and schools.. Last year, we touched Rs 200 crore this year we expect to reach Rs 350 crore.. We are aiming to reach Rs 1,000 crore by 2015..”, he said after unveiling the company’s new logo. Elaborating about the “rebranding exercise” for which the company has spent around Rs 10 crore, he said, “we have taken a conscious decision. Our earlier name (Akshaya Homes) was saying only about our residential properties, but with the new logo we will be doing other businesses also”. The company’s future projects would be based on green building concepts, Babu said and added that CRISIL would rate their projects regularly. “Every six months they (CRISIL) will monitor the operations of Akshaya.”, he said. On their expansion plans, he said, “right now we are having projects across Tamil Nadu. In next three years you can definitely see us in other three States ie., Andhra Pradesh, Karnataka and Kerala”.

Tagged as: archives, bangalore, chandigarh, chennai, faridabad, feeds, kolkata, news-feeds, real estate companies

0 comments Read the full article →

Maharashtra Govt Likely to Introduce Real Estate Regulation Bill in Winter Session

by Paul Joseph October 10, 2011

Maharashtra government is likely to introduce Real Estate Regulatory Authority Bill in the winter session, state’s housing minister said on Thursday. “We plan to table the bill in the state legislature in the ensuing winter session,” state’s housing minister Sachin Ahir told reporters on the sidelines of a property expo here. Ahir said the proposed authority will function under the purview of the Maharashtra Ownership of Flats Act. It will be an autonomous body with civil judicial powers to be headed by a retired judge or a magistrate and can be a redressal forum for developers as well as tenants or flat owners. vWhen asked whether the proposed legislation would clash/overlap with the proposed Central legislation, the Real Estate Regulatory Authority Bill, he replied in the negative. On the amendments suggested by the Brihan Mumbai Municipal Corporation (BMC) to the existing Development Control Rules, Ahir said, “we have received suggestions and objections on the same. We will also need to take the consent of our MLAs before finalising the amendments. But a decision in this regard would be taken in the winter session.” The BMC commissioner suggested that under the term ‘concessionary FSI’, builders be allowed to construct an extra 25 percent above the sanctioned FSI in residential projects for which they would be charged 100 percent premium. Ahir also expressed the need to streamline the process of approvals for developmental projects in the state. On the government policy to adopt public private partnership model for development of housing, he said, “we have adopted the PPP model and there is a growing need for getting into joint venture partnerships. We do not have land stocks but we can offer FSI. On the other hand, developers have land stocks so we can offer them FSI and they will create housing stock for us. So it will be a win-win situation for both the parties.”

Tagged as: archives, bangalore, faridabad, feeds, hyderabad, mumbai, news-feeds, property prices, real estate companies, real estate india, terms

0 comments Read the full article →

CREDAI Condemns 50 bps Hike in Repo&Reverse Repo Rate by RBI

by Paul Joseph May 5, 2011 Uncategorized

Commenting on the monetary policy 2011-12 by RBI, Pradeep Jain, chairman, Parsvnath Developers Ltd and chairman, Confederation of Real Estate Developers’ Association of India (CREDAI), said, “The 50 bps hike in Repo Rate and Reverse Repo Rate by RBI bringing them to 7.25 per cent and 6.25 per cent respectively is harsh. This will intensify the cash crunch scenario which industry is facing right now. Along with this it also increased the Saving Bank Deposit Interest Rate to 4 per cent which will add pressure on cost of funds for banks. The apex bank must think about the industrial growth which has moderated in last few quarters. Taking fund out of the market can not be the only solution to tame inflation. The current pressure on prices is global in character and reflects supply side bottleneck. The solution is not monetary tightening. This step by RBI will further affect the demand-supply matrix of industry which is so far going good. Real Estate is a sentiment driven industry and any punch on the sentiments of buyers can bring a halt to the growth it has shown post slowdown. I appeal to RBI to act strong on restricting rising prices which threaten to derail the country’s economic growth but not at the cost of flow of fund.”

Tagged as: banking and finance, crunch-scenario, delhi, noida, property prices, real estate, real estate companies, real estate developers, the-sentiments

0 comments Read the full article →

Urban Development Minister Accepts Govt’s Failure in Responding to Real Estate Growth Appropriately

by Paul Joseph April 29, 2011 Uncategorized

Urban development minister Kamal Nath admitted today that “the government has not responded to the tremendous growth in the real estate sector in the last one decade appropriately”. Addressing the 11th National Conference of Credai (Confederation of Real Estate Developers’ Association of India) in Singapore, he said not much progress has been made in the area of “land economics” too. Asking the government to facilitate a single window clearance to help bring down corruption in the real estate sector, Credai president Lalit Kumar Jain said, “India is one of the most corrupt countries in the world and the real estate sector is its biggest contributor.” While “affordable housing” has become a favourite subject of politicians, not much has been done to develop it. The sector has to bear with huge delays in approval of projects and also risk stoppage of work. Real estate experts said about 50-60 per cent of the sale value goes towards approval and taxes. With a change in policies, the costs can be reduced. This would directly benefit the middle class. Jain said, “Developers are unable to take up affordable housing projects. We need to connect to 150 officials across 40 departments of central, state government and municipal corporations. This takes 2-3 years and to speed up things, money is exchanged.” In his speech, Kamal Nath said “mission transparency is not only for the real estate but also for the government”. “We are not building for the future, unlike Hong Kong and Singapore. We are still catching up with the past,” he added. Indicating that his ministry would organise a joint conference with all states on improving real estate practices, Kamal Nath said, “We have to move from the stage of no practices and bad practices in real estate to best practices. I will, in my discussions with state governments, ask them to engage at the regional level and then we will soon have a conference in Delhi.” Credai has submitted an action plan to the urban development ministry with a detailed checklist of approvals required and those which can be done away with. It mentions a dateline, including finalising the document by Credai by August 15 this year, finalising comprehensive check list and implementation by all state governments by January 26, 2012 and making all necessary amendments by April 28 next year.

Tagged as: bangalore, estate-sector, from-the-stage, gurgaon, kamal, kamal-nath, pune, real estate, real estate companies, real estate developers, singapore, the-government, urban

0 comments Read the full article →

Sayaji Hotels Ltd to Invest Rs100 Crores in Pune; Plans to Expand Operations

by Paul Joseph April 28, 2011

On completion of two years in Pune, Sayaji Hotels Ltd is planning to invest Rs 100 crore in Pune. The group is planning to expand its operations with a sports and cultural club, restaurant, mall, convention and conference facilities and serviced apartments. “This expansion will be completed by September 2012 with a total investment of Rs 100 crore,” Sajid Dhanani, MD, Sayaji Hotels Ltd, told DNA. “The demand for hotels and restaurants is increasing at a good rate in Pune. My estimate would be at 22 per cent as far as hotel business is concerned. Though supply of rooms in the last two-three years has increased considerably, the restaurant business is growing far more rapidly,” said Dhanani. Besides, it also has plans to expand Barbeque Nation brand from current 18 units in the country to around 33 units by the end of the year. The new Barbeque Nation restaurants will be opened in seven cities such as Mumbai, Delhi NCR, Chennai, Bangalore, Hyderabad, Kolkata and Pune. Sayaji Hotels further plans to leverage the brand image it has created in Pune by expanding in other locations like Bangalore, Chennai and Gurgaon wherein majority of its customers are come from auto, IT and engineering industries. The group’s turnover was roughly around Rs 190 crore for the financial year 2010-11.

Tagged as: bangalore, country, dna, hotels, other-locations, plans, real estate, real estate companies

0 comments Read the full article →

Sayaji Hotels Ltd to Invest Rs100 Crores in Pune; Plans to Expand Operations

by Paul Joseph April 28, 2011

On completion of two years in Pune, Sayaji Hotels Ltd is planning to invest Rs 100 crore in Pune. The group is planning to expand its operations with a sports and cultural club, restaurant, mall, convention and conference facilities and serviced apartments. “This expansion will be completed by September 2012 with a total investment of Rs 100 crore,” Sajid Dhanani, MD, Sayaji Hotels Ltd, told DNA. “The demand for hotels and restaurants is increasing at a good rate in Pune. My estimate would be at 22 per cent as far as hotel business is concerned. Though supply of rooms in the last two-three years has increased considerably, the restaurant business is growing far more rapidly,” said Dhanani. Besides, it also has plans to expand Barbeque Nation brand from current 18 units in the country to around 33 units by the end of the year. The new Barbeque Nation restaurants will be opened in seven cities such as Mumbai, Delhi NCR, Chennai, Bangalore, Hyderabad, Kolkata and Pune. Sayaji Hotels further plans to leverage the brand image it has created in Pune by expanding in other locations like Bangalore, Chennai and Gurgaon wherein majority of its customers are come from auto, IT and engineering industries. The group’s turnover was roughly around Rs 190 crore for the financial year 2010-11.

Tagged as: bangalore, barbeque-nation, dna, expansion, hotels, locations, plans, pune, real estate, real estate companies, real estate india, real estate trends, such-as-mumbai, two-three-years

0 comments Read the full article →

Orris Floreal Towers – Completely Sold Out

by Paul Joseph April 7, 2011 Uncategorized

Orris Infrastructure, one of the leading real estate companies, has received a phenomenal response from the customers for its commercial division in “Floreal Towers” by selling 100 per cent of the project in a short span of time. The project is a part of commercial-cum-retail-complex situated in Sector 83, New Gurgaon The world class amenities being provided and the strategic location in terms of convenience and comfort has attributed for the complete sold out status. The construction of the project is in full swing and is expected to be completed by March 2012, according to a company press release. On the new initiative, Vijay Gupta, CMD, Orris Infrastructure, said, “We are happy for the overwhelming response of the commercial division of Floreal Towers. In Gurgaon, the demand for office space is very high as it has become a favourite destination for the companies, be it national/multinational, and therefore we came with the commercial complex at Floreal Towers. We are hoping to deliver this division by 2012-end. After looking at the kind of response of the customers, we will be coming up with such projects soon in Gurgaon itself.” Floreal Towers is a premium commercial complex spread over a total area of seven acres. Set on the National Highway-8 in New Gurgaon, the green project has location advantage of Dwarka Expressway, proposed Metro station, ISBT and airport are within an arm’s reach. Artistically designed, the project offers world class infrastructural facilities like central air conditioning, 100 per cent power backup, 24

Tagged as: companies, customers, faridabad, floreal-towers, gurgaon, national, press, property prices, real estate, real estate companies, real estate developers, real estate trends, the-commercial

0 comments Read the full article →

Unitech Limited acquires Rs 200 crore from new Gurgaon project

by Paul Joseph April 5, 2011 Uncategorized

Unitech Limited India’s leading business group having operations in large-scale integrated real-estate development and infrastructure projects has received an overwhelming response for its new project launched last week ( Unitech South Park, Gurgaon), with over 300 bookings garnering almost Rs 200 crore. It has completely sold out Phase I of the project that is targeted at mid-income group. Located in Sector 70, Gurgaon, on 150 metre wide Southern Periphery Road, Unitech South Park has excellent connectivity to NH-8 and Golf Course Road. The successful launch of Unitech South Park follows the successful launch of the 1st phase of Unihomes, Rewari, as part of Unitech Township project, during the last week of February 2011. Unitech has already received 200 bookings since the launch of the 1st phase of this project. Located in Sector – 15, Rewari, Unihomes Rewari will have residential and commercial developments along with schools and medical facilities. Spread over 83 Acres, it is located on the proposed 45 m wide road which will connect to Narnaul highway and also to Bawal Industrial Area which is an upcoming growth centre being developed by the HSIIDC with almost Rs 7,000 crore of investment in the adjoining Industrial Centre. Commenting on the development, Sanjay Chandra, managing director, Unitech Limited said, “We are very pleased with the customer response to the new project launches. These launches are in line with our business plan to launch almost 10 msf in the next few months. The demand and pricing environment of the residential product is stable and there has also been a marked improvement in the demand for office spaces. We are working on a wide array of projects to tap this growing demand.” Unitech Limited has been steadily improving its cash flows on the back of improved realization from operations. It has also reduced its net real estate debt by Rs 555 crore in the 3rd quarter of FY 2011. Its real estate net debt equity ratio now stands at 0.40 which is among the lowest in the industry. Its debt profile has improved vastly in the last few quarters with the average maturity of debts at around three years. Being comfortable from financial leverage perspective, Unitech is aggressively focusing on its core operations — launch, execution and delivery of projects. Delivery of finished products has commenced in most of the pre-March 2009 projects and is expected to accelerate in the coming months.

Tagged as: during-the-last, focusing-on-its, real estate, real estate companies, real estate developers, real estate india, residential, sanjay-chandra, sold-out-phase, unihomes-rewari, unitech

0 comments Read the full article →

Robert Vadra Forays into Real Estate, Gets into Partnership with DLF

by Paul Joseph March 16, 2011 Uncategorized

New Delhi-based entrepreneur Robert Vadra, married into the country ’s most powerful family, has made a quiet and relatively unheralded entry into the real estate business, including a partnership with DLF Ltd, India ’s largest realty firm. Vadra, the son-in-law of the ruling United Progressive Alliance coalition chairperson Sonia Gandhi, has stayed away from electoral politics, maintaining that he wants to be known as a businessman. In interviews, he has said that his focus is on Artex, a small company specialising in jewellery and handicraft exports. That seems to be changing as 42-year-old Vadra, known for his punishing fitness regime and love for fast bikes, has sought to scale up and diversify his business activities since 2008, acquiring tracts of land in Haryana and Rajasthan, a 50% stake in a leading business hotel in Delhi, and attempting an entry into the business of chartering aircraft. Regulatory filings available in the public domain and reviewed by ET reporters reveal the changing graph of Vadra ’sbusiness interests. These include wide-ranging transactions with the DLF Group.

Tagged as: banking and finance, business, country, delhi-based, faridabad, his-punishing, home-loans, india, most-powerful, property prices, real estate companies, real estate trends, retail market in india, sonia-gandhi

0 comments Read the full article →