Mumbai: Indias biggest real estate company, DLF Ltd, and US-based real estate firm, Hines Interests Lp., are among developers that may bid to build hotels, offices and shops around New Delhis railway station, as the city prepares to host the 2010 Commonwealth Games. The state-owned Indian Railways is seeking bids by 15 January for redeveloping a quarter of its 86ha land in the capital, S.K. Mishra, an executive director at the railways, said.

The site is worth about $2.5 billion (Rs9,900 crore), according to data compiled by Cushman & Wakefield Inc. Indian Railways appointed British architect Terry Farrell, who built Hong Kongs Kowloon Station and Londons MI6 headquarters, to redesign the rail hub, as Asias oldest network redevelops 21 stations in the next three years. Hines is developing Cannon Street station and 400,000 sq. ft of office space above it in Londons financial district. Railway properties are typically in prime areas and its a real estate play, said Rajeev Talwar, group executive director at DLF.

-Bloomberg
Govt mulls action against cement cartel
New Delhi: The government will consider whether action is needed against cement makers for forming cartels, Union commerce and industry minister Kamal Nath said.
We will decide whether some action has to be taken on cement manufacturers, Nath said on Thursday. Because of cartelization, common consumers are affected.
The minister also said the Union government is working with state governments to see if some taxes can be refunded to help exporters hit by the strengthening of the rupee.

Source : livemint.com

Intellisys Technologies and Research Limited(ITRL), a KPO-based global research and development centre is planning to set up a high-end research facility at DLFs IT park at Rajarhat in Kolkata.

The high-end research facility, spread over an area of 10,000 sq ft at the DLF IT park at Rajarhat in Kolkata will come up within eight months. This research centre will focus on 15 different areaas of research which will basically cater to the needs of the companys overseas clients and focus on developing some patented IT products as well, Saumen Chakraborty, chief executive officer of ITRL said on the sidelines of an Entrepreneurship Summit, held at the Indian Institute of Management in Kolkata.

Initially, Intellisys would begin with a team of 15 researchers and the number is expected to grow significantly in the next three years.

More : business-standard.com

Unitech Corporate Parks Plc, a real estate investment firm listed on AIM market of London Stock Exchange, has proposed to sell stake in three of its development projects for 234.1 million pounds (Rs 1,830 crore).

The company will seek the shareholdersa approval for the conditional sale of its interests in three out of its six development projects in India, the company said in a filing to the London Stock Exchange.

Unitech Corporate Parks is also planning to expand its investment strategy to real estate projects in hospitality, retail and other commercial and mixed-use sectors in India.

More : economictimes.indiatimes.com

Sahara Groups real estate arm Sahara Infrastructure and Housing has exhibited its flagship project Sahara City Homes at the Indian Property Show, Dubai.

The three-day Indian Property Show is one of the largest and most diverse exhibitions of exclusive Indian property, catering to NRIs customers and investors. Exhibitors include major real estate developers of India, who are showcasing their projects to prospective buyers in Dubai. The show began on 13 December 2007, and is being hosted at Airport Expo, Dubai.

The pioneering project of Sahara Infrastructure and Housing, Sahara City Homes, according to a statement by the company, is the worlds largest chain of self-sufficient, high quality townships to be developed in 217 cities across India.

More : domain-b.com

With India emerging as a favourite destination for real estate investment, a leading Israel-based firm is planning to invest $2 billion in a project in Jaipur. Fishman Holdings plans to build a four million square metre township on the site w hich will include residences, commercial space, offices, and high-tech space.

The Israeli real estate firms subsidiary, Mondon Investments Ltd., has bought a 600-acre plot in Jaipur for $108 million and has an option to buy more land, business daily Globes’ reported.

Mondon is involved in several other developmental projects in India, including residential and commercial projects in New Delhi, Thane, Hyderabad and Ludhiana. - PTI

Source : thehindubusinessline.com

Mondon plans to build a four million sq.m. township on the site.

Fishman Holdings Indian real estate development subsidiary, Mondon Investments Ltd., has bought a 600-acre lot in Jaipur for $108 million, and has an option to buy more land at the same terms. The company plans to build a four million square meter township on the site at an investment of up to $2 billion.

The project will include residences, commercial space, offices, and high-tech space.

More : globes.co.il

Toyota Kirloskar to open Pune warehouse

With Pune supplying a major chunk of automotive components for Toyota Kirloskar Motors (TKM), the company has decided to establish a warehouse in the city to cater to the needs of its suppliers. A team is currently in Pune scouting for possible locations. The warehouse is likely to come up at Chakan which is also home to factories of Volkswagen and General Motors.

A memorandum of understanding or MoU is likely to be signed with the state government sometime next week. We are looking at 15 acres to 20 acres in Pune and have approached the industries department for this purpose, the spokesperson said. The company has similar warehouses in Manesar and Bangalore and the Pune warehouse would cater to the needs of the western region. Toyota Kirloskar Motors has around 70 suppliers across India.

More : financialexpress.com

In this budget you would either get very small properties, or you would get under-construction properties. The prices of under-construction properties have been steadily, if slowly, falling over the past few months and the trend is likely to continue for some more time. Managing the very small properties requires more skill than is required in buying them, so one must be very sure they want to buy such a property.

However, if you are looking to invest in a house to live in, this is a good budget to buy with. While a rental of Rs 15-20,000 per month may get you a much larger house than an EMI of the same amount can, you at least have the satisfaction of doing some wealth creation. However, keep in mind that a lot of these under-construction properties are likely to be up for possession only by 2010.

In Delhi, Rohinis sectors 24 and 7 can get you 2- and 3-bedroom units (600 and 787 sq ft). Dwarkas sectors 14, 16, and 18 offer 1-room LIG flats (600 sq ft). And if you are looking only at investments, Jaskirat Bansal, MD Grand Real Estates says, You can get roof rights (not constructed) of second and third floors over 160 sq yd plots in Rajouri Garden.

More : expressestates.in

It has got all the trappings of a big city but scratch a little deeper and you realise Gurgaon still obeys the law of the jungle.

The ongoing property boom and the predominance of small real estate operators have made Gurgaon top the state of Haryana in the total number of applications for arms licenses.

The number of approvals for gun licenses in Gurgaon has gone up alarmingly from just 60 odd in 2004 to a close to 300 this year.

More : ibnlive.com

Within a fortnight of Commerce Secretary G K Pillai talking about a possible relaxation of cap on land size for SEZs, Commerce and Industry Minister Kamal Nath said on 11 December there was no proposal to change the 5,000 hectare ceiling prescribed by a Group of Ministers.

The government is not considering any proposal to relax the 5,000 hectare cap on land size for Special Economic Zones (SEZs) Nath told reporters on the sidelines of the TiE Entrepreneurial Summit here.

However, the Centre would look at specific proposals from states once the Resettlment and Rehabilitation (RR) Policy is implemented, he said. There cannot be a one-size-fits-all policy for all the states, he said. The Commerce Ministry was examining these issues, Nath said.

More : livemint.com