The US-headquartered KMG Infotech Ltd, a software services and consulting company having offices in various parts of India, including Bengalore, Gurgaon, Kolkata and Mohali, is looking for acquisitions in India, the US and Europe.

Speaking to Business Standard, KMG Infotech Ltd Founder and Chairman Subhash C Bhatia said, We are open to acquisitions. Already we are in advance talks with few companies for the acquisition. Firstly, we plan to acquire a company in the US that does not have presence in India. Secondly, we are also eyeing BPO firms having presence in India. Thirdly, we are also eyeing companies that have foothold in Europe, preferably dealing with property & casualty (P&C) insurance sector.

He added, We would be shelling out anywhere between Rs 50-100 crore towards acquisition, which can funded through internal accruals, diluting promoters stake etc.

More : business-standard.com

According to a UNI report, Pune-based St Laurn Hotels and Resorts Groups will invest Rs 3,000 crore in 20 hospitality properties, mainly hotels and resorts, across India till 2015. During the launch of the groups first five-star property St Laurn Towers, built at a cost of Rs 105 crore on Ashram Road, Ahmedabad, Lakshman Kariyaa, Managing Director, St Laurn Hotels and Resorts Groups, said, Out of the Rs 3,000 crore future plan, the group will invest Rs 1,000 crore and the rest would be funded through debt equity. However, at present, we have no plan to go for public issue for next three years.

Kariyaa said, The group will continue its present strategy to develop all hospitality properties in Tier II and Tier III cities of the country as land costs takes handsome investment in metros like Delhi, Mumbai and Kolkata. These 20 hotels would have a total capacity of around 1,000 rooms and they will be in cities like Jaipur, Chandigarh, Pune and others.

Disclosing future plan of the group, Kariyaa said, We are coming-up with a five-star spa-resort in the pilgrim town of Shirdi at cost of Rs 82 crore. This project will mainly tap foreigner and NRIs, visiting the pilgrimage city, which is now having second highest religious visitors after Tirupati in Andhra Pradesh.

More : hospitalitybizindia.com

Dlf Riverside Kochi Project:
DLF Developers coming with their new luxury apartment at Kochi Idyllically located on the extensive 175 meter waterfront of the Chilavannoor River, ‘DLF Riverside , a residential condominium sprawled over 5 acres, almost floats on the backwaters. This premium condominium is situated close to Kochi’s most prestigious schools and super specialty hospitals. DLF Riverside has 5 impressive residential towers extending from 12 to 20 floors, adding upto 176 apartments. DLF Riverside luxury condominium offers 3 and 4 bedroom apartments & 4 bedroom penthouses in various configurations to suit individual requirements. The luxury apartments at DLF Riverside face the river with a view of the cascading fountain and waterbodies, the landscaped lawns and the lush green of the palms! Vast spaces with contemporary styling for modern living.

Dlf Riverside Kochi Location:
1.5 kms from Kadavanthra Jn, 1.5 kms from Varkeys Supermarket, 2 kms from Panampilly Nagar, 2 kms from Vytilla Jn, 2.5 kms from Valanjambalam, 2.75 kms from Jos Jn. (MG Road), 4 kms from Kaloor Bus Stand, 4 kms from the Ernakulam South Railway station, 5 kms from Palarivattom, 5 kms from Marine Drive, 8 kms from the Kochi Port, 32 kms from Kochi’s International Airport.

Dlf Riverside Kochi Common Amenities:
Amphitheatre, Party Area, Boat Jetty, Angling, Jogging Track, Restaurant, Wi-fi enabled & IP TV ready, Integral Shopping Area, Ayurvedic Massage Parlours, Salon, Health Club with fully equipped Gymnasium, Yoga deck, Sauna, Steam and Massage room, Guest Suites , Gift Shop in Club House, Airconditioned Apartments, Full Power Backup, 3 Lifts, 2 Car Parks per flat, Adequate Visitors Parking, 24 hour Security, Reception Cameras, Video Surveillance for periphery, Sewage Treatment Plant, Biogas Plant, Water Treatment Plant, Swimming Pool, Restaurant, Library, Guest Suites, Billiards Room, Table Tennis, Squash Courts, Card Room, Half Basketball court, Gymnasium, Steam and Sauna, Aerobic and Yoga centre

More : bignews.biz

Gurgaon In a major relief for flat owners in Gurgaon and other areas of Haryana, the Punjab and Haryana High Court has asked the Director of Town and Country Planning (DTCP) to look into objections filed by residents of Silver Oaks Society in Gurgaon against their builder.

The verdict defines the status of common areas or properties in group housing complexes in the state.

The residents contend that the builder, DLF, sold off convenience shops, community centre and club, parking places and nursery school in the apartment complex to private parties.

More : expressindia.com

India’s largest property firm, DLF, that scaled down ambitions in the hotel business, following an economic downturn, to focus on core areas of building homes, offices and shops, is planning various options to fully or partly exit from the international luxury hotel chain Amanresorts that the developer had purchased at the peak of the economic boom in 2007 end. The company has also held preliminary talks with at least two Indian hotel chains, but a huge gap between the buyer and seller’s expectations has played spoilsport for concrete deal discussions.

Founded by Indonesian hotelier Adrian Zecha, Amanresorts is a super luxury chain of resorts usually built with small inventory of rooms to offer exclusivity. The company is known to charge one of the highest average daily room rates that sometimes cross $600. The hotel company owns and manages 23 small luxury resorts worldwide and will open a new resort in Utah, USA, in October, as per the company’s website. It operates three resorts in India - one in New Delhi and two in Rajasthan.

In 2007, Adrian Zecha, announced that he has formed an equal partnership with DLF, which has entered into a definitive agreement to acquire a controlling interest in the Aman Resorts group. DLF, currently, holds 50% in Aman and as per the agreement, would acquire controlling stake in due time.

More : economictimes.indiatimes.com

KLJ Town Planners has performed a bhumi pujan for their group housing project – KLJ Heights – in Bahadurgarh. Within the first phase of the group housing project, the company proposes to develop 300 flats each in the two and three bedroom category.

KLJ Group was founded by Shri K L Jain long back in 1968. KLJ Group is now the upcoming leader in construction/real estate sector having completed number of projects. The company is striving ahead to give its consumers better commercial and corporate space with world-class standards. They are in the process of developing Integrated Townships/Group Housing projects at Faridabad and Bahadurgarh (Haryana) and IT Park at the most prime location in Gurgaon and Greater Noida.

The vision of KLJ Group is to contribute significantly to building the new India and become most valuable realtor. The company has developed an impeccable goodwill and enjoys leadership in India in real estate sector.

More : onlineprnews.com

Bengal housing minister Gautam Deb appeared sceptical whether anything would emerge at this moment from the proposal to give 45 acres each to Infosys and Wipro.

Given the recession, I dont know whether Infosys and Wipro would accept the new deal we have offered them. Even if they do, I’m not sure whether they would start construction now. The IT sector is facing a problem because of the meltdown.

He said TCS had taken land in Rajarhat two years ago but “not even 10 bricks had been laid there.

More : telegraphindia.com

DLF, the countrys largest property developer, will soon conduct a poll among property brokers to decide the pricing and number of apartments to be offered in the second phase of its Capital Greens project in West Delhi.

Its a novel experiment, but property brokers in Delhi say the company is trying to test the waters in view of the vastly changed situation in the real estate market.

Though DLF’s spokesman said the company is yet to fix a final price, feedback from brokers suggests the company is exploring the option of charging around Rs 7,000 a square foot (sq ft). At this level, the price is 56 per cent more than Rs 4,500 a sq ft it charged in the first phase of Capital Greens, when DLF had sold 1,356 apartments in a single day in April this year.

More : news.in.msn.com

Private equity funds are aggressively chasing the nascent revival in Indian home purchases by undercutting the more established realty companies such as DLF Ltd and Unitech Ltd, sometimes by as much as half the going rate.

The funds, which have tied up directly with landowners, are willing to sacrifice margins to push sales and make up for being unknown to prospective homebuyers.

South Asian Real Estate Group (Sare), First Indian Real Estate Capital Fund Pvt. Ltd, or FIRE Capital, and Red Fort Capital have launched projects in locations such as Gurgaon, Noida, Ghaziabad, Indore and Bangalore.

More : livemint.com/

Just registering your property and ensuring that your ownership rights make it to the records of the land-owning agencies like MCD and DDA is not enough to safeguard your right as an owner. To protect your right to the title and to check the growing cases of properties in the capital being targeted for takeovers, an expert team has come up with the first draft of a property titling law.

The plan is to set up a central titling authority. It will maintain complete records of all properties and scrutinise the details provided to identify and decide on the real owner. Each property will be issued a unique identification number. A tribunal will be set up for resolving all disputes relating to immovable property in Delhi.

This is expected to prevent fraudulent ownership claims as the records will be available to prove ownership in court. Under the existing system, property ownership details are not available with the authorities concerned.

More : timesofindia.indiatimes.com