Real estate developer Ansal Properties and Infrastructure Ltd said that it expects to sell 10,000 dwelling units in the affordable housing segment this year, but has put on hold plans to build 30 hotels.

The affordable dwelling units are being sold in two categories – Rs 2.5 lakh for 200-sq ft unit and Rs 9.50 lakh for 850-sq ft unit. This means that the average cost for the buyer works out to between Rs 1,120 and Rs 1,250 for every sq ft as compared to Rs 1,700 to Rs 2,000 a sq ft for mid-income housing. The construction cost for the company for these projects is expected to be between Rs 500 and Rs 550 a sq ft.

Ansal Properties – which derives nearly 70 per cent of revenue from mid-segment housing – has already launched the affordable housing projects in UP and Rajasthan and has sold 2,000 units. It is targeting a sale of 10,000 such units this year.

More : sify.com

N THIS economic slowdown it is very difficult for investors to make a decision on investing in real estate. The prices have come down in metropolitan and cosmopolitan cities. It makes sense to take a look at tier II and tier III cities with good infrastructure and proximity to airports and other destinations.

Places like Gurgaon, Mysore, Hosur may be the places to look at.

Hosur seemingly is best suited due to proximity to Bangalore and its climatic conditions. Hosur is just 40km from Bangalore and it would be an extension of the Bangalore Electronic City. Tamil Nadu government has announced four Special Economic Zone (SEZ) in this town.

More : merinews.com

The world could be in the grip of the most severe slowdown in recent times but this has not deterred global hotel players from announcing new projects in India.

A key reason could be cooling land prices, coupled with the need for quality hotel rooms in the country, say analysts.

“International hotel majors have a long-term view of India. Most properties will become operational only around 2012 by which time the market is expected to bounce back. Most of them also have enough cash to buy land,” Mr Rashes Shah, analyst with brokerage ICICI Direct, told Business Line.

More : thehindubusinessline.com

Gandhinagar-based, Neesa Leisure Limited is in the process of adding five properties to their portfolio. The Group is currently developing properties at Jodhpur, Udaipur, Ahmedabad, Jaipur and Neemrana. These properties are expected to be operational by 2010. The Group has five operational properties in locations like Gandhinagar, Jaipur, Kollam (Kerala), Ahmedabad and Gurgaon. The upcoming property in Ahmedabad titled ‘Cambay Grand’ will host 170 rooms and a banquet capacity of 1,500 people. By the end of 2010, Neesa Leisure Limited will offer 1,000 rooms on a pan-India basis. The company has incurred significant amount of investment, however the amount of investment was not disclosed.

The Group plans to divide their inventory through four various channels and these channels will effectively promote the different properties. These four channels comprise of working closely with the travel trade fraternity, capitailising on the MICE business, through time-share concept and directly targeting the end consumers by offering various products and packages. “These four channels will effectively promote our properties. The MICE business is proving to be very strong at the existing five properties and also has huge potential considering the offering of our properties,” informed Mehul Shah, Deputy General Manager and Public Relations, Nessa Leisure Limited. The Group is also planning to expand at locations where tourists’ traffic is high.

More : travelbizmonitor.com

Hit by the economic downturn, Subhiksha Trading Services today said it will renegotiate rentals with real estate players, amid allegations, by some property owners, of default in rent payment by the retailer.

The retail major is also considering relocation of some of its stores from the 1,600-odd total, across the country due to low sales volume and high rentals.

Yes, we would consider opportunity to lower rents… about 80-90 stores are under consideration of relocation, Subhiksha Trading Services Managing Director R Subramanian said in an e-mail interview.

More : business-standard.com

The slowdown does not appear to be hampening hotel development in India, with players Carlson Hotels and Global Hyatt Corporation still keen to invest.

Hospitality major Carlson Hotels is planning to add 50 properties to its India portfolio by 2011, it announced on Friday.

Carlson is currently the largest international hotel operator in India, Carlson Hotels Worldwide Executive Vice President K B Kachru said in a statement.

More : property-report.com

Gurgaon You might get a second shot at owning property in Gurgaon with new sectors — from 58 to 115 —soon to be added to the list of the already-existing 57 sectors. The department of town and country planning (DTCP) has recently passed orders for further land acquisition for new sectors mentioned in the Masterplan.

The DTCP has planned the process in a phased manner — the order has been passed for sectors 58 to 67 in the first phase; the second phase will add 99 to 115 and the third will take care of the rest.

“We have initiated the acquisition proposal as of now. Once we get orders from the Haryana government, we will work on providing basic amenities like master roads, water, sewerage and others,” said Madhusmita Moitra, District Town Planner, Gurgaon.

More : expressindia.com

With cash flows threatening to dry up and debt hard to get, Maytas Properties ambitions to be among the top five realty companies in India on fast track are coming crashing.

Maytas Properties, led by Mr Rama Raju Jr., the younger son of Mr B. Ramalinga Raju, the former Chairman of Satyam Computer, was the target (at $1.3 billion), along with Maytas Infra, for the failed $1.6-billion acquisition plan of Satyam.

The Hyderabad-based company has been pushed into a crisis, with reports of sacking and winding up of new business verticals floated last year emerging in the past week. The unlisted entity has virtually decided to close at least four divisions – hospitality, warehousing, affordable housing and retirement communities.

More : thehindubusinessline.com

Your home is where your dreams, your passions and your memories lie. By beautifully draping your four walls, complimented by elegantly mesmerizing furnishings. She Home wishes to reflect you and your passions in your abode. Simply, dress your home the way you would dress yourself!

One of the leading exporters of India, Sarita Handa Exports, is finally entering the domestic retail market for the first time with the brand She Home. Started by Sarita Handa in 1992 with 15 years of experience in the industry prior to that, she entered with only her name and the goodwill that it carried in the industry. However motivated by her love for natural textiles and creativity, her business blossomed in the ensuing years. Later Sarita was joined by her husband, Satish, now an ex-army officer and helped by her younger daughter, a graduate of the Fashion Institute of Technology in New York. Hence her talent coupled with her husband’s discipline and her daughter’s vast knowledge and understanding of the American market, her clientele multiplied allowing her success to simply soar.

With a state of the art manufacturing facility in Manesar stretching over a 160,000 square feet space, each piece is made in accordance to international standards with an in-house lab and inspection procedures. Further equipped with a vision far ahead of its time partnered with design as its USP and a passionate devotion to every piece, this company has been able to sell to the creme de la creme of the international market. And so side by side with every hand- picked team member, most of whom continue to work for the company till date, along with a strong value system, She Home now confidently strides ahead to serve and satisfy the Indian consumer.

More : living.oneindia.in

DLF, which recently asked the government to cancel the approval for an IT special economic zone (SEZ) near the capital city, may start five of its other SEZs after 2010 on an expected revival in demand for real estate, according to sources in the company.

The proposed SEZs are in Khurda district in Orissa, Kancheepuram in Tamil Nadu, Kolkata in West Bengal, Sonepat in Haryana, Gandhinagar in Gujarat among others, according to the list of SEZs notified by the government.

“It is not feasible to start all the SEZs at one go, since it involves a lot of investment and time. We will do it in a phased manner. We will complete the already started SEZs in 2010 and then look at others,” said a DLF spokesperson.

Source : business-standard.com