February - 2012

HDIL's cheque bounces thrice, loses Aurangabad land deal

Wed, Feb 29 2012

Mumbai-based real estate builder/developer HDIL has lost a land deal. The land owner, tired of not receiving any response from HDIL, has terminated the agreement after the cheque submitted by HDIL bounced thrice since Diwali, as per sources.

Mahindra Lifespace launches residential project in Nagpur

Tue, Feb 28 2012

Mahindra Lifespace Developers, the realty arm of Mahindra group, has rolled out a premium residential project called 'Bloomdale' at Mihan near here. The project has been launched in joint venture with B E Billimoria & Company.

'Inclusion of realty in GST can cut prices 20%'

Mon, Feb 27 2012

The expected goods and services tax (GST), if includes real estate sector, can significantly bring down property prices. The GST seeks to make the whole country a single market will bring down property prices by 20 percent, according to 13th Finance Commission chairman Vijay Kelkar.

HC directs Hiranandani to build affordable flats

Fri, Feb 24 2012

Mumbai based Hiranandani Developers has been restrained from further developing its township in Powai by the High Court. The court has ordered the firm to develop a certain number of smaller but affordable flats for weaker sections of the society.

DLF sells 350 flats for Rs 500 crore in Gurgaon

Thu, Feb 23 2012

As part of its housing project 'The Primus', realty firm DLF has sold flats to the tune of 500 crore in Gurgaon. The 450 acre township will include group housing, commercial & plotted development and is set to be developed by 2015.

Realty check: Mumbai slips off list of 10 most expensive office spaces

Wed, Feb 22 2012

Nariman Point, a well-known commercial business district in Mumbai, has been dropped from the 8th to the 15th position on the list of 'Top 10 Global Commercial Rentals'. The latest report as per Cushman & Wakefield states that the depreciation of property has taken place by 8% in the last year.

Gujarat govt sells 2,736 hectares in Dholera SIR

Tue, Feb 21 2012

Gujarat government's offer for buying 2,736 hectares of government land in the Dholera Special Investment Region (in Gulf of Khambat) has been accepted by Hindustan Construction Company (HCC), Greater Dholera Infracon and Nano Works Developer Gujarat.

'Probe Rs 1,100 cr land allocation scam'

Sat, Feb 18 2012

The Division bench in Gujarat, with Chief Justice Bhaskar Bhattacharya and Justice J B Pardiwala, has acted in response to a PIL involving a land allocation scam filed by Bhanubhai Odedara, a social activist. The land in question was sold at a much lower rate of 470 per sq mt while the minimum Government fixed price was Rs 19,000 per sq mt.

Mumbai World's 2nd-Least Expensive City

Fri, Feb 17 2012

Mumbai and New Delhi have emerged as one of the least expensive cities to live in as per a new survey done by the Economist Intelligence Unit. As per its calculated 'cost of living index', Karachi in Pakistan, Mumbai in India, Tehran in Iran and Delhi in India are ranked first, second, third and fourth respectively.

63 NCR home projects running late by 4 years

Thu, Feb 16 2012

A research conducted by Jones Lang LaSalle has revealed that as many as 63 large residential projects in the NCR, with over 40,000 apartments, are delayed, many by over four years. a large number of residential projects in the national capital region, launched in 2005-06, and to be handed over to buyers latest in 2008-09, are still under construction.

DLF may sell 2 Noida plots to Bharti Realty for Rs 250 crore

Wed, Feb 15 2012

Realty developer DLF is planning to sell two 25-acre Noida-based (U.P.) plots of land to Bharti Realty, the realty arm of Bharti Enterprises. The deal is expected generate for Rs. 250 Cr for DLF.

DLF to launch 450-acre township in Gurgaon; may invest Rs 8,000 cr

Tue, Feb 14 2012

DLF has been planning to invest whopping Rs. 8000 Cr in a 450-acre integrated township at Gurgaon within 2-3 years. The DLF Garden City project will be inclusive of group housing, commercial and plotted development and its development will take place in new Gurgaon's 86, 87, 90, 91 and 92 sectors.

DLF expects to raise up to Rs 4,000 cr

Mon, Feb 13 2012

India's premier realty developer DLF is planning to raise about Rs 6,000 Cr by the end of next fiscal from sale of non-core assets. Also, DLF's net debt fell by Rs 169 Cr during the third quarter of this fiscal.

Sahara launches construction Joint Venture with Turner

Fri, Feb 10 2012

Sahara India has formed a construction joint venture with US-based Turner to build projects worth $25 billion over 20 years in India. Sahara, with assets of $26 billion, has global interests in finance, infrastructure and real estate, hospitality and media and entertainment.

Ramky Estates plans Rs 1,700-crore investment

Thu, Feb 9 2012

Realty company Ramky Estates and Farms Ltd has revealed its plans of investing whopping Rs 1700 Cr in the markets of Hyderabad, Chennai and Bangalore in the next 3 to 4 years. The news of investment came out after the launch of a residential project.

AMR Infrastructure to invest Rs 1,200 crore on township at Greater Noida

Wed, Feb 8 2012

Realty developer AMR Infrastructure has announced that it is working on an integrated township at Greater Noida with an investment of Rs 1,200 Cr. Spread over the sprawling 25 Acres, the project comprise IT office space, residential units and a shopping mall.

Hooda to develop Gurgaon, Faridabad, Sonepat in NCR

Tue, Feb 7 2012

Haryana Chief Minister Bhupender Singh Hooda has given nod to develop towns like Gurgaon, Faridabad, Bahadurgarh and Sonepat at par with New Delhi under its sub-regional plan of the National Capital Region (NCR).

Ahmedabad realtors take celeb path to push up sales

Mon, Feb 6 2012

Bringing in more innovation in realty project launch and to push up sales, the Ahmedabad-based real estate developers are now depending on celebrities. A number of top celebrities from Indian cinema are being roped in for launching real estate projects.

IndiaHomes to invest $10 mn, plans to acquire IT firm

Sat, Feb 4 2012

Real estate brokerage firm IndiaHomes has revealed its plans to mark its presence in new spheres. The company said it will invest $10 million over the next one year and also planning to acquire IT space to boost online transactions.

Reliance Industries, Indiabulls construction projects under scanner for green norms violation

Fri, Feb 3 2012

The current construction projects of Reliance Industries and Indiabulls have been picked up by the State Expert Appraisal Committee (SEAC) on grounds of carrying out work without obtaining environment clearance (EC). Their projects are under scanner for green norms violation.

Builders' association calls for withdrawal of new DC rules

Thu, Feb 2 2012

The Builders Association of India (BAI) has announced to withdraw the new Development Control Rules (DC Rules), saying that they discriminate against the suburbs with regard to redevelopment norms.

Puranik Builders to develop integrated township on 300 acres near Mumbai

Wed, Feb 1 2012

Real estate developer Puranik Builders is planning to develop an integrated township spread over 300 acres at Neral on the outskirts of Mumbai. With the total saleable area of over 10 million sq ft, the project is expected to be completed in coming 6 years.