Real estate firm SRK Group is planning to invest Rs 5,000 crore in developing various properties across the country over the next five years with plans to expand to new cities.
The group has identified many projects in south India and other parts of the country to pump in about Rs 5,000 crore in the next five years in developing residential as well as commercial projects, industry sources said.
When contacted, the Pune-based SRK Groups Chairman and Managing Director K Rasheed Malik said, We are looking into new areas and different projects. In Kerala, we have already identified some projects, which we will be developing in the future.
More : business-standard.com
DLF to set up mega agri hub in Hyderabad
The state government on Tuesday allotted 24.5 acres of prime land at Moosapet village in Balanagar mandal of RR district to DLF Building India Ltd on a 33-year lease for setting up an integrated mega agriculture hub.
The proposed agriculture centre, near Metro Cash and Carry, would generate 20,000 jobs in agriculture-related activities, 20,000 jobs in information technology and related industries, and another 10,000 jobs in retail and service sector, apart from providing 1.5 lakh jobs indirectly by way of permanent or casual employment in trade and agriculture, support services, construction facilities and facility management. The proposed complex would have an agricultural distribution centre, farmer training facility centre, agriculture complex, poultry & dairy input centre, and output storage & marketing centre for agri products.
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More : newdesignworld.com
It’s a mall world after all
Be it a lazy Sunday, or one of those after work hang-out sessions, shopping for that pretty pink dress or that footwear you eyed your colleague wearing, catching up with a friend over a cup of coffee, window shopping or just aimlessly sauntering arou nd — malls seem to be the best place to head to, what with everything available under one roof.
But the only bummer is when there arent enough malls and you have to frequent the same old places time and again.
Ever since Spencers Plaza and Citi Centre happened to Chennai, the other malls have been near-dead. Many people have admittedly spent hours together at these two places because of lack of choice. But, now theres happy news for all compulsive shoppers — Chennai is coming up with at least 17 more multi-storied malls and shopping centres.
More : hindu.com
Four Seasons lines up more projects
Four Seasons – the Canadian luxury hotel chain – is eyeing a slew of projects in India, including hotels, resorts, service apartments and residencies.
Three months after opening the doors of its first hotel in India at Mumbai, the company has finalised plans for a hotel in Gurgaon in partnership with real estate major DLF. It is currently in the process of modifying the project to add a Four Seasons-branded residential condominium.
In Hyderabad, the company has tied up with Emaar-MGF to develop another Four Seasons property.
The Gurgaon and Hyderabad projects will entail investments of around $120-150 million each, excluding land prices, officials said.
In Bangalore, Four Seasons will open in partnership with Goldman Sachs through a joint venture with ETA, a Dubai developer. The project is estimated at around $150 million, with Goldman Sachs holding a majority stake of 76 per cent.
More : telegraphindia.com
Suncity to invest Rs 6,000 cr on realty projects
Real estate firm Suncity Projects plans to invest about Rs 6,000 crore over the next four years to construct various properties, including SEZ and townships, across the country.
The company has acquired 4,000 acres of land in different cities where it would be developing over 10 projects in all verticals such as housing, commercial, shopping mall, hotels, SEZs and townships.
We are expanding in a big way. We are coming up with many projects in different cities for which land has already been acquired with an investment of about Rs 3,000 crore, Suncity Projects Director Ashok Bansal told PTI.
We will invest about Rs 6,000 crore over the next four years on construction, he said. The investment will be funded through internal accruals and debt.
More : hindu.com
Gurgaon venture of Ramprastha
Ramprastha is planning a 450 acre township in Sector 37-D, Gurgaon. The project would be near the Reliance SEZ. It will also be close to the Dwarka expressway and a Metro Rail station. The builder says that loans for buying these properties can be had from banks like HDFC and ICICI. The project plans to offer 2-BHK (1,285 sq ft), 3-BHK (1,650 sq ft and 1,975 sq ft), and 4-BHK (2,350 sq ft) apartments. The apartments are priced at Rs 2,350 per sq ft.
Sushant City-II at Bhatinda
Ansal API has launched Sushant City II at Bhatinda. The company has joined hands with Mittals to develop this township. Spread over an area of about 121 acres, the project is being developed under the banner of Ansal Mittal Township. Located on the Talwandi Sabo Highway, the township is a freehold property approved by the Government of Punjab. Sushant City-II will offer villas and bungalows. It will offer residential plots in the size range of approximately 200 sq yd and above, plots for commercial ones (for shop-cum-offices) that are approximately 216 sq yd in size.
Parsvnath Planet Plaza gets 4 Star approval
Parsvnath Hotels, a subsidiary of Parsvnath Developers has received 4 star category approval from the Ministry of Tourism for its hotel project at Parsvnath Planet Plaza, Vibhuti Khand, Gomti Nagar, Lucknow. Parsvnath Hotels would undertake the construction of the hotel while Fortune Park Hotel, a subsidiary of ITC, would manage it. The ground floor of the plaza would be utilised for commercial and hotel lobby whereas the first two floors shall be dedicated for commercial uses and the remaining floors would be completely for the hotel section. The project will offer 130 rooms and amenities. Parsvnath will make an initial investment of Rs 25 crore in the project.
More : .expressestates.in
Rising interest rates hit home sales hard
Property developers, consultants and brokers have seen a 40 per cent decline in enquiries from home buyers over the last three months.
With home-buyers postponing their purchases owing to higher interest rates and increase in equated monthly installments, the slowdown in the real estate market is getting deeper.
The Mumbai-based Oberoi Constructions, which used to sell around 50-60 apartments in the June-July period, a traditionally lean period for property sales, has seen a sharp fall in sales during the same period this year.
Neelkanth Group, another Mumbai-based developer that builds homes in the central Mumbai suburbs, has also seen its sales dropping by over a third in the same period.
More : business-standard.com
INLD to protest on August 9 at Parliament House against SEZs
Indian National Lok Dal (INLD) would organize a protest march against the wrong Special Economic Zone policy of Congress government at Parliament House New Delhi on August 9.
INLD Secretary General & Rajya Sabha MP, Mr Ajay Singh Chautala would lead the protest to be organized on the Quit India Day at Jantar Mantar near Parliament House. Thousands of affected farmers from districts of Gurgaon, Faridabad, Jhajhar & Sonipat would participate in the protest march.
In a press statement issued here today, INLD MP Mr Ajay Singh Chautala charged Hooda government of being bent upon ruining the farmers for benefiting some select big business houses. He said that all the focus of the government seems to be on how to benefit the bigger business houses like Reliance and how to exploit the poor peasantry. Government is acquiring the farming land at the peltry sums and handing them over to the big companies for developing SEZs, which has ruined the small farmers and large sections of working class dependent on the farming sector.
More : punjabnewsline.com
Parsvnath to go slow on land buys
Parsvnath Developers, the Delhi-based realtor, plans to invest up to Rs 500 crore for land acquisitions in fiscal 2009. However, it will not be aggressive in ramping up its land bank and would acquire land for its projects.
In its latest quarter, the BSE-listed Parsvnath added 66 acres of land.
Pradeep Jain, chairman at Parsvnath, said the focus is to acquire land for setting up integrated townships. We are not very aggressive in acquiring new land to boost our land bank.
I think we would invest Rs 400-Rs 500 crore out of internal accruals, depending on liquidity …to acquire land in this financial year, Jain said in a conference call with analysts on Monday.
More : dnaindia.com
Delays plague supply of mall space
A report by international property consultants Cushman & Wakefield points to a paradoxical situation: . There is demand for retail space in malls across major cities but nearly a fifth of the space lies vacant. The rentals, though, are stable and holding in specific markets. Despite major mall projects, the supply of space is likely to be low over the next two years as projects are being delayed due to various reasons.
The second quarter of 2008 saw the launch of just about a third of the planned launches in major cities. There was a supply of over 2 million sq.ft of mall space in major urban centres against a planned launch of 6 million sq.ft.
Most of the space during the second quarter has been created in the NCR, Mumbai and Kolkata, with nothing happening in Chennai, Hyderabad and Pune. The second and third quarters could see the supply of over 12 million sq.ft, according to a report by Cushman & Wakefield. The report, quoting Mr Rajneesh Mahajan, Director, Retail Services, Cushman & Wakefield, says that despite the low supply, nearly a fifth of the 40 million sq.ft of mall space is vacant. This is primarily because the businesses are targeting the same catchments resulting in oversupply within local markets. The focus is essentially on premium high streets.
More : thehindubusinessline.com
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