Binani cements plans for real estate foray

Binani Cement, the flagship company of the Rs1,700-crore Binani group and a leading producer of cement, is expected to enter realty development business in the current fiscal year. A source said Binani has proposed to develop 56 acre that it owns at Thane into an IT park.

» Vakil Housing eyes Coimbatore realty market
Bangalore-based real estate developer Vakil Housing Development Corporation Pvt Ltd. (VHDCPL) is planning a new project in Coimbatore. The company would continue with its core areas of plot and villa development and would not foray into apartment construction. The developer is currently implementing a real estate project near Hosur.

» QVC Realty to launch first project in Bangalore soon
QVC Realty plans to launch its first project called QVC Hills in Bangalore. QVC Realty is the first venture-capital backed real estate start-up company with an investment of $100 million from IL&FS Investment Managers Ltd.

Parsvnath Developers buys into Sabeer Bhatia’s project

» Parsvnath Developers buys into Sabeer Bhatia’s project
Realty firm Parsvnath Developers Ltd. is investing Rs400 crore as equity and debt for a 38% stake in Nano City Haryana Infrastructure Ltd. Nano City is being promoted by Hotmail co-founder Sabeer Bhatia. Parsvnath’s equity infusion of Rs41.1 crore puts the equity capital of Nano City at Rs110 crore. The proposed township will be developed in two phases over the next 10 years.

» Polaris to foray into real estate business
Mid-tier IT firm Polaris Software Labs has got board approval to set up real estate business. However, the firm doesn't‘ have any mega plans for its property foray. To begin with, Polaris will only sell or lease the land it owns in Chennai and Gurgaon.

Unitech recieves Lehman investment

Unitech has received Rs740 crore from global investment bank Lehman Brothers Real Estate Partners. Both the firms have a 50-50% stake in a Mumbai-based project. This is touted to be the country's second-largest realty project.

Synchronize plans to ease overcrowding, SC tells DDA, MCD

The Supreme Court asked the Municipal Corporation of Delhi (MCD) The Delhi Development Authority (DDA) to examine the possible synchronisation of the Delhi Master Plan 2021 and the National Capital Region Plan 2021. The Court wants to ease overcrowding of the national capital and give citizens better civic amenities and infrastructure. The Court has asked officials to hold talks with the NCR Planning Board and submit a report by the second week of August.

WorldHotels ties up with Royal Palms

Germany’s hotel chain WorldHotels has tied up with Mumbai-based property and hospitality firm Royal Palms for new 418-room super luxury hotel at Goregaon. The Palace Hotel & Towers will be the only hotel in India to be part of the WorldHotels chain. WorldHotels will have an exclusive marketing and co-branding pact with Royal Palms for this hotel

Street-smart retailers put off realty spend

Many retailers are putting off their property purchases in anticipation of the market falling further. A sluggish real estate market is prompting retailers to postpone expansion plans on hopes of lower rentals. Some are even renegotiating rates for retail space booked earlier.

Delhi’s Khan Market on world’s high street map

Delhi’s premium shopping streets Khan Market, Connaught Place and South Extension have been ranked among world’s top 20 premier shopping streets by real estate constancy Jones Lang LaSalle Meghraj. Their reports says that going by commercial rentals Khan Market is the country’s priciest retail destination. Mumbai’s Linking Road also figures as an expensive shopping destination.

Indian real estate firm to build apartments in Qatar

SRK Global, the Doha-based affiliate of India's SRK Constructions, will construct low and medium priced apartments in Qatar. SRK Global will develop exclusive and affordable apartment and villa communities for expatriates.

Property buyers hesitant, expect prices to fall (KARNATAKA)

Property builders in Bangalore assert that there is good demand for property, despite the market turmoil. However, this demand is not being translated into successful transactions because buyers are hopeful that prices will fall further. However, Kishore Jain of Jain Heights and Structures Pvt. Ltd. says the chances of property prices coming down is very bleak. High input costs are a big deterrent for real estate builders and developers.

NRIs home in on India, account for 10% of sales now

Home sales to Non-Resident Indians (NRIs) are booming. According to Jones Lang LaSalle Meghraj (JLLM), residential sales to NRIs have tripled over the last six months, amounting to about 10% of the total sales.

» Housing research institute coming up in Gurgaon
India’s first housing development and research institute will come up soon in Gurgaon. This institute will be of interest to architects, engineers, project managers and construction workers. With the aim of developing expertise for building low-cost and eco-friendly houses, the institute will have lab facilities for testing the quality of construction.

Sobha Developers receives $10 mln FDI

Bangalore-based real estate firm Sobha Developers has received $10 million (about Rs43 crore) of Foreign Direct Investment (FDI) for setting up residential project. The company received this investment from Dubai-based Pan Atlantic for a 40% stake in a Special Purpose Vehicle (SPV) in the Bangalore project.

DLF to Buy Back Shares at Rs600 a Share

Realty firm DLF will buy back its stocks at maximum price of Rs600 per share over the next 12 months. The buyback price is 71.28% higher than the scrip's closing price of Rs450.30 (as traded last week). This is the second largest open market buyback offer in the history of Indian stock exchange. However, analysts say that this offer may not enthuse investors at all.