IL&FS Investment Managers Ltd (IIML), the country’s largest home-grown private equity firm by assets under management (AUM), is planning to launch a fresh fund under the banner of Amsterdam’s Euronext-listed Yatra Capital. Yatra Capital is an India-focused real estate investment firm, promoted by Saffron Capital Advisors. Archana Hingorani, chief executive officer and executive director of IIML, […]
Mumbai land prices, India’s most expensive, may extend their 15 percent decline this year as high borrowing costs force indebted developers to sell real estate, Oberoi Realty Ltd. (OBER) Chairman Vikas Oberoi said. “We are waiting for the right opportunity to buy,” Oberoi, who runs India’s second-largest developer by market value, said in an interview in Mumbai. […]
The Competition Commission of India (CCI) has pulled up real estate major DLF Ltd in a recent order for cancelling the allotment of an apartment of a member of DLF’s Park Place RWA, stating that it was in “direct contravention” of its stay order of September 2010. The order was passed by the commission to […]
Cognizant Technology Solutions has increased its real estate infrastructure expansion in India by nearly $200 million. The US-based company, which has large offshore presence in India, has revised its investment plan to a total of $700 million in real estate from 2011 through 2015. This is to expand its campuses in India by an additional […]
LIC Housing Finance Ltd, the mortgage unit of India’s biggest insurer, has achieved a first close of Rs 250 crore for its maiden real estate private equity fund. Launched late last year, the fund has a target size of Rs 500 crore, with a green shoe option of Rs 250 crore. This provision will allow LIC […]
Government of Delhi issued a fresh directive to the revenue department asking it to allow sale and purchase of immovable properties only through proper sale and not allow any such transactions by way of General Power of Attorney. The direction issued by Divisional Commissioner Vijay Dev came as registration of properties at 13 sub-registrar offices […]
Once upon a time localities used to call Koramangala ‘Sollemangala’ (Solle means mosquitoes in Kannada). The area spread over 1,800 acres in eight blocks, was once petrified by mosquito menace and mangroves. It was a village and was considered not a great place to live for a Bangalorean in the 80s and 90s. Today, it is one of […]
IL&FS Investment Managers Ltd (IIML), the country’s largest home-grown private equity firm by assets under management (AUM), is scripting a new realty fund, according to sources close to the development. The public-listed PE fund manager, which has AUM of $3.2 billion, will launch the IL&FS India Realty Fund (IRF) III with a targeted corpus of $500 […]
Private equity group Blackstone Group has made its first acquisition in Singapore, buying the StarHubGreen project from Germany’s SEB Asset Management for S$215 million ($173 million). Stargazer Blackstone bought the 400,000-square-foot business park as part of an opportunity real estate fund, according to a source familiar with the deal. SEB and Blackstone agreed to the terms of the deal […]
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Tagged Blackstone, Blackstone Group, BNP Paribas, Credit Agricole, Real Estate Fund, SEB Asset Management, Singapore, Skandinaviska Enskilda Banken, Societe Generale, StarHub Business Park, StarHubGreen project
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The real estate market in Mumbai looks poised for some upswing after going through a lukewarm phase for the past few months. Evidently, there has been a marked increase in sales in March 2012 when 5,776 properties were registered, which is 37% more than the 3,639 registrations in the month of February 2012. Similarly, at least 50 […]
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Tagged Bharat Mody, CFO, DCR, development control rules, Diipesh Bhagtani, Executive Director, Hubtown Limited, Jaycee Homes Ltd, RBI, Real Estate Market, Reserve Bank Of India
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The LiveNRI has announced an upcoming India Property Road Show on May 5th 2012 (Saturday) and May 6th 2012 (Sunday). The timings will be 11am and 7pm (by appointment only). It is an option for investors and home buyers, who are looking for nice property in India. The new solution has been developed to meet […]
In an order that puts thousands of property transactions in Delhi under a cloud, the revenue department has made all realty sales through transfer of general power of attorney null and void with retrospective effect from October last year. The order, dated April 27, directs all 13 sub-registrar offices, DDA and NDMC to follow the […]
The much-awaited regulatory Bill for the real estate sector is still a long way off. The draft Real Estate Regulation Bill will not be tabled during the current session of Parliament, a senior official in the Ministry of Housing and Urban Poverty Alleviation has confirmed. The Bill has been in the making for several years […]
Mumbai builders have called off their strike scheduled for May 3. The Maharashtra Chamber of Housing Industry and the Confederation of Real Estate Developers Association of India had called for a one-day token strike protesting the delay in project approvals and against the State Government’s move to establish a housing regulator. The Builders Association of […]
Anand Rathi Financial Services and property consultancy Knight Frank India are planning to launch their second real estate fund by end of this months and looking to raise around Rs 500 crore (~$100 million). Unlike its peers who are hitting foreign shores to raise new funds, the joint fund rental yield and appreciation portfolio (RYAP) fund will be […]
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Tagged AIF, Alternate Investment Fund, Anand Rathi Financial Services, Bangalore, Chennai, Knight Frank India, Mumbai, National Capital Region, Ncr, Pune, RYAP, Second Realty Fund
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India’s UB Holdings is in talks with private equity funds Blackstone and Kohlberg Kravis Roberts to sell some of its commercial real estate for 6.5 billion rupees ($123 million), writes Reuters. UB Holdings, controlled by liquor baron Vijay Mallya, is part of the UB Group that owns majority of United Spirits and United Breweries, apart from debt-laden carrier Kingfisher Airlines, […]
JM Financial group promoted Infinite India Investment Management has invested $13 million through its realty fund Infinite India Real Estate Fund in Pune-based developer Kumar Urban Development Ltd’s (KUL) residential project, said sources close to the development. The source privy to the development said the transaction has been inked recently for an equity stake in a high end […]
The Other day, I was reading a blog entry about housing prices and interest rates on the website of The Economist magazine. The data on which the blog was based included a long (20+ years) history of housing prices in the UK and the US. In the US, for example, the house price index with […]
Real estate fund house ASK Property Investment Advisors has said it is planning to raise an offshore fund to invest in Indian real estate projects. The company has already committed $40 million (Rs 200 crore) out of its second domestic fund. It has formed a subsidiary in Singapore that will be raising this offshore fund. […]
April 28, 2012 – 11:26 am
ICICI Bank, India’s No. 2 lender, posted on Friday a larger-than-expected 31 percent rise in quarterly profit and forecast a higher growth rate for domestic loans and stable asset quality for the coming year. Loan demand in India is expected to pick up after the central bank last week cut its benchmark lending rate for […]
The number of high net worth investors (HNIs) and corporates seriously looking to invest in Indian office space has increased manifold in the last few years. Mumbai continues as India’s numerous office space investment destination, with companies from all over the world unerringly zeroing in on the financial capital. As South Asia’s only true financial […]
DLF, India’s top-listed realtor, is in talks with three Mumbai-based real estate companies — Lodha Developers, Runwal Group and Sheth Creators, to sell a piece of land in central Mumbai, according to a report on Friday. While DLF is seeking a valuation of 30 billion rupees ($571 million) for the 6.8 hectare property, the potential buyers are negotiating at between 20 billion […]
April 24, 2012 – 11:35 am
Hyderabad has emerged as the world’s third most affordable office location in 2011 in a list prepared by global realty consultant DTZ, which has also named Chennai and Pune among the top five such positions. According to DTZ’s latest study ‘Global Occupancy Costs – Offices’, Surabaya in Indonesia and Qingdao in China were placed in the top two positions of the chart as the most affordable […]
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Tagged 2011, affordable office location, Chennai, Geneva, Global Occupancy Costs - Offices, global realty consultant DTZ, Hong Kong, Hyderabad, London, Paris, Pune, Surabaya, Tokyo
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Indian real estate market is one of the most lucrative sectors for Non-Resident Indians to invest their foreign money. Moreover, this trend will continue for more 4-5 years as the consumption story of Indian real Estate market is not going to get over in near future leading to immense commercial growth prospects that in turn increase […]
The recent move by the Reserve Bank of India (RBI) in its annual Credit Policy has given some hope for investors in the affordable housing segment. This is being seen as a positive development for the overall property market. While investors remain cautious and wait for banks to announce the lowering of interest rates, realtors are optimistic […]
