October - 2010

Auction to fix price of CWG flats

Sat, Oct 30 2010

In a bid to determine the current market value of CWG flat, developed at Games Village site in Delhi, the DDA has decided to auction 100 flats, out of its share of 722 flats.

NTC looks to put Prabhadevi mill land on the block by Dec

Fri, Oct 29 2010

Being bullish over the responses it got after Poddar Mill and Bharat Mill land auctions, the National Textiles Corporation (NTC) is now eyeing to put up another 8-acre mill land at the prime location of Prabhadevi on the block.

Zandu Realty, Sheth Dev form JV for Mumbai project

Thu, Oct 28 2010

Emami Group owned Zandu Realty is soon going to enter its very first Mumbai project in a joint venture with Sheth Developers. The firm had recently changed its name from Zandu Pharma to Zandu Realty.

To beautify Walled City, DDA ropes in help from Barcelona

Wed, Oct 27 2010

The Delhi Development Authority (DDA) has sought help from the Barcelona Strategic Urban Systems, AIE, Spain to beautify the Walled City. It has signed a MoU which entails initiation of cooperation in the fields or urban planning, especially in the areas of heritage conservation, public spaces and urban renewal.

Sand ban will drive up property prices in Pune

Tue, Oct 26 2010

Various ongoing residential and commercial real estate projects in throughout the Pune city are bound to suffer from the Sand ban. The supply of river sand is unavailable in the city which is likely to drive up property prices in Pune.

Sunteck's high-end signature

Mon, Oct 25 2010

A press release published by Sunteck Realty, the Mumbai-based premium real estate developer, has revealed that the firm will soon launch a luxury residential tower, Signia High, in the heart of Borivali (East), a western suburb.

M3M India to invest $1.2 bn; offer flats up to Rs 10 cr

Sat, Oct 23 2010

Realty major M3M has announced its plans about investing a whopping sum of USD1.2 billion (over Rs 5,300 crore) for developing a luxury housing complex in Gurgaon. The completions of this development will make available some of the costliest flats in Gurgaon for over Rs 10 crore.

Morgan Stanley buys 20.7 lakh shares of Oberoi Realty

Fri, Oct 22 2010

The Mumbai based real estate company Oberoi Realty has settled its share in the first session at Rs. 280.15, with a premium of 7.75% over an issue price of Rs. 260 a share. The deal is finalized with Morgan Stanley, a Mauritius based company.

Thai realtor Pruksa plans to invest Rs 1,000 cr

Thu, Oct 21 2010

Showing significant signs that Indian Real Estate is lucrative for the international investors, Pruksa Global, a Real Estate Developer from Thailand has shown interest in investing Rs 1,000 crore for various projects. Starting from Bangalore, the projects will span out to major metros in the country including Chennai and Mumbai.

Samira Habitats forms SPV with Ashok Piramal Group

Wed, Oct 20 2010

A new joint venture between two industrial verticals i.e. Samira Habitats and Peninsula Land Ltd has been formed on Tuesday to develop two million square feet township in Alibaug, a coastal town near Mumbai.

NHB set to tighten norms on affordable housing

Tue, Oct 19 2010

Housing regulator National Housing Bank is planning to deal more strictly with the rules that administer affordable housing. This will empower NHB to ensure that projects built on subsidized priority loans are actually delivered.

Modi opens Godrej Garden City

Mon, Oct 18 2010

Godrej Garden City, one of upcoming residential townships in Gujarat, has been given green signal by state chief minister Mr. Narendra Modi. This is the first ever and one of its kind project in Gujarat.

Piramal Sunteck wins Airoli plot tender bid for Rs 75-crore

Sat, Oct 16 2010

Realty major Piramal Sunteck Realty Pvt Ltd (PSRPL) emerged as the winner of a tender bid announced by City and Industrial Development Corporation of Maharashtra Ltd. With the result of this bid, PSRPL will be entitled to get a 8,230 square meter plot in Airoli on Palm Beach Road (Navi Mumbai).

Featherlite to launch residential project in Chennai

Fri, Oct 15 2010

Featherlite Group, a well-reckoned name in the Bangalore Real Estate Industry is going to launch a large-scale residential project in Chennai. The project is named Vaikuntam and will be constructed over a huge area of 7.5-acre. There will be more than 500 apartments suiting the budget and desires of all.

Signature homes making a lifestyle statement

Wed, Oct 13 2010

With the economy experiencing stability in the previous quarters, the demand for Luxury Apartments is now on an all-time high. Not just popular in the metros, these luxury homes with attractive features are also finding buyers in smaller towns of India like Shimla and Lonavla.

Circle rate hike may trigger 5-20% rise in Gurgaon realty prices

Tue, Oct 12 2010

The circle rates for properties in Gurgaon are set to see a revised hike from Monday. The increase predicted to be around 5-20%, brings some relief to the owners of agricultural land in the area, which is presently under HUDA.

DLF plans more luxury malls, eyes Hyderabad, Chennai

Mon, Oct 11 2010

The leading real estate developer plans to extend its successful run in Delhi towards other metro cities like Hyderabad and Chennai as well, by cashing in on the retail craze. Business Head Savitri Devi Singh has recently stated that DLF will be soon coming up with high-class malls, with hopes to attract major international brands to the country.

Real estate in trouble: Deepak Parekh

Fri, Oct 8 2010

The Chairman of Housing Development Finance Corp has said that there will be no an asset bubble in equity market in near future. However, the real estate sector may get in to trouble due to excess supply scenario.

Demand for residential units to grow 23% in cities

Thu, Oct 7 2010

A leading firm for realty services, Cushman &Wakefield has announced a latest trend in the sector, stating that the Residential and Commercial property requirements in India will increase up to 4.25 million units and 240 million sq. ft respectively. In the coming years, the Retail and Hospitality sector will also face demand-supply gap, the study reports.

Godrej's realty arm to develop 1.35-acre plot in Chembur

Wed, Oct 6 2010

Godrej Properties, a leading real estate player, is set to expand its horizons by developing a 1.35-acre plot in Chembur. The company has joined hands with Bombay Footwear, the land owner and is set to start a project which is expected to fetch revenues in the excess of Rs. 180 crore.

Oberoi Realty plans foray into new cities: Chairman

Tue, Oct 5 2010

Realty major Oberoi Realty Ltd. has announced its plans to take foray into new cities such as the National Capital Region, Hyderabad and Bangalore, said Mr. Vikas Oberoi, the Chairman and Managing Director of the firm on Tuesday.

Omkar Realtors eyes Rs 1,000 cr turnover

Mon, Oct 4 2010

Omkar Realtors, one of the Indian realty firms, is expecting to achieve a Rs 1,000 crore turnover in the financial year FY 12. It has projected nearly nine projects within the next six months.

Builders ask Maharashtra to solve sand shortage

Fri, Oct 1 2010

Seeing a rising shortage of sand that has started affecting construction industry, the Maharashtra Chamber of Housing Industry is trying to get some solution from State government. It is seeking government’s direct intervention in redressing acute shortage of sand for the construction industry.