India Real Estate Link » coimbatore

Real Estate Provides Assured Returns

Anchal — Fri, 18 Jun 2010 06:39:44 +0000

The realty prices in cities like Delhi, Mumbai or even some of the smaller tier II cities, like Jaipur or Coimbatore, have shown a remarkable increase over the past few years. This growth has proved the advice of Mark Twain, an American author, that ‘Buy land, they are not making it any more’.
There is no paucity of multibaggers in Real estate. Many cases have been observed in which the property brought in 1986 for just Rs. 1 Lakh is now valued at Rs. 1 cr. or even more.
Thus, it can be inferred that prices are multiplying a whopping 100 times in approximately 25 years at an annual return of 20 percent per annum. For example, in 1977, Mr. N Mehta, a retired professional had bought a 1 BHK house in Andheri, Mumbai, for Rs. 70,000 and the price of this BHK now is Rs. 70 Lakh.
According to the head (real estate investment advisory) of Birla Sun Life AMC, Mr. Sashi Kumar, In today’s scenario, each one should hold realty in the portfolio, although the ratio of how much he/ she should hold could depend on the individual.

New Homes For India

rajani — Wed, 15 Oct 2008 13:53:46 +0000

An entire township of nearly four thousand new homes is being built in Southern India, dubbed a “mega project” for the country’s building boom.
Sahara Prime City, the real estate arm of Sahara India Pariwar, is building the project in Coimbatore as part of what it says will be a vast chain of townships in 217 Indian locations.
Covering 1113 acres, Coimbatore will soon be home to 3,846 new residential units and will feature high-rise and mid-rise apartments, houses and independent bungalows.
Sushanto Roy, head of Sahara’s real estate operations, said, “The township has been planned to set a new standard of luxury and style. The brand Sahara City Homes is intended to provide quality lifestyle with its range of amenities and facilities.”
The township will be fully air conditioned and is also designed at one level higher than the applicable seismic zone as an extra safety measure to guard against earthquakes.
Other Sahra townships have already started taking shape with development and construction underway in the cities of Lucknow, Nagpur, Indore, Ahmedabad and Gwalior. Work is going on also at sites in Jaipur, Aurangabad, Solapur and Jodhpur.

REBI Is Planning To set Up 3,000 Franchisees Across The Country

admin — Mon, 01 Sep 2008 11:53:04 +0000

Real Estate Bank India (REBI), is planning to set up three thousand franchisees across the country, with about forty eight outlets in West Bengal in the next few years.
Across the eastern region, REBI would open two hundred stores, said Hemant Sikaria, regional head of REBI, on the occasion of launch of two-day expo, Franchise Expo 2008-09.
This would be a podium for entrepreneurs and business houses to explore business opportunities in real estate.
REBI was present in places like Bangalore, Bhubaneshwar, Chennai, Coimbatore, Delhi, Hyderabad, Jabalpur, Jaipur, Lucknow, Ludhiana, Mysore, Surat, Trichy, Truvandrum and Varanasi.
“India’s realty segment is the only industry with a track record of 30-35% growth per year in terms of investment. With the realty sector booming in east, we are confident that to be able to provide solutions to all real estate requirements of the people here,” Sikaria said.
REBI provides a single window service for brokerage services, financial services, database services and relocation services.
REBI claimed it had tie-ups with organizations like KPMG and TCS to leverage on their business process validation and technology platform.

Indo-Rama Plans To Set Up 200 Retail Stores

rajani — Tue, 15 Jul 2008 09:51:01 +0000

Indo Rama Retail Holdings Pvt. Ltd, the retail venture of the promoters of Indo Rama Synthetics (India) Ltd will be setting up 200 stores across the country over the next three years.
Announcing the launch of the company’s store in Chennai, Mr Ashok Srivastava, chief operating officer, Indo-Rama Retail Holdings said, “Any company spends close to Rs 400 per employee on stationery and other office materials. With IT, education, financial, media sectors booming we are confident there will be a huge demand for our products.”
The company will be setting up close to 50 stores in tier-2 and tier-3 cities by the end of 2008. He pointed out, “Our investments per store would vary depending on the real estate value. We will be investing around Rs 15 lakh to Rs 40 lakh per store”. We are targeting cities such as Madurai, Coimbatore, Trichy and Salem in Tamilnadu. Further he said that the company is also eyeing entering SEZ’s in these cities. To a query on funding, he said that the funding would be through internal accruals.
The market for office products in India is estimated to be around $10 billion growing at 15% year on year. Office1 Superstore is targeting to capture 5% of market share in the organized sector.
The company clocked revenues worth Rs 5 crore last year and is confident of achieving Rs 1 crore business from each store that they set up.

Indian Company Plans IT Park In Lanka

rajani — Thu, 12 Jun 2008 08:19:23 +0000

City-based real estate developer PS Group is setting up an IT park in Sri Lanka with an investment of $80.4 million.
The company has entered into a joint venture with Sri Lanka Institute of Technology and Infinity Parks Ltd, another city-based real estate company, to develop this project.
Mr. Pradip Chopra, chairman and managing director of PS Group, said, “This is our first international project and we feel there are lots of such opportunities in neighboring countries. This IT park project will provide direct and indirect employment to 20000 and 80000, respectively”.
PS Group will be developing 1.6 million square feet for the technology park for which the Sri Lanka Institute of Technology will provide 16 acres.
In the first phase, around 500 million square feet will be developed for the project, which is expected to attract around 20 to 50 companies.
The company has also tied up with a US-based hedge fund, which will be investing in their future projects.
Mr. Chopra said, “We have also been approached by Sampath Bank Ltd, one of the largest Sri Lankan banks to help develop their properties through similar joint ventures”.
In Chennai, the PS Group is developing a 4 lakh square feet residential project. It has also entered into joint ventures to develop 11.5 lakh square feet of retail space in Coimbatore and 9 lakh square feet of residential complex in the same city.
An IT special economic zone (SEZ) of 2.5 million square feet is also being planned in Chandigarh.
PS Group is involved in a service sector SEZ, which is being planned in collaboration with farmers at Hinjewadi, Pune. Mr. Chopra further said, “We are doing this project in collaboration with the farmers who will be stakeholders in the project in various ways. It is very difficult to repeat that model in Bengal as the land holdings are fragmented and the urban and agricultural land ceiling act makes it very difficult to follow such a model”.

Tamil Nadu Launches Portal For e-Processing Of Land

rajani — Thu, 15 May 2008 10:55:07 +0000

The Tamil Nadu government today launched a website for online processing of land documents, including registration.
State minister for Revenue and Housing I Periasami unveiled the website at regional review conference organised jointy by the Land Resources department and Union Ministry of Rural Development.
He said, “The website ‘www.Eservices.Tn.Gov.In’ will have all details such as patta pertaining to lands of individuals”.
Further he said, “So far, 3.2 crores of land resources having full details of the owner/enterprise across the state have been registered on this website”.
The website which is to be launched in interior districts of Tamil Nadu in a phased manner will be covering the entire state soon.
Mr. Periasami further said, “Initially, it has been launched in Dindigul, Vellore and Coimbatore”. Elaborating about the project, Union Rural Development Secretary Rita Sinha said that e-processing would prevent tampering of documents and every individual registering on the website would have a unique identity number.
Already this kind of e-processing of land resources had been implemented in various states and also in other countries, including England, Australia, Thailand and Kenya.
Rita Sinha said, “Initially, we have planned to launch it in 11 states across the country and as of now, it has been completed in Karnataka, Haryana, Andhra Pradesh and now Tamil Nadu. We want to cover the entire country by the end of 12th Five Year Plan”. Further she said that with this kind of development, accuracy and time reduction could be achieved.

Rakindo Enters Coimbatore Realty

rajani — Wed, 23 Apr 2008 12:58:56 +0000

Rakindo Developers Pvt Ltd setting up an integrated township project at Coimbatore with an estimated investment of six thousand crore rupees. Rakindo Developers is a joint venture company formed by RAKEEN and Trimex group. RAKEEN is a global business company where as Trimex group is chennai based mineral conglomerate.

The project, Kovai Hills, will be developed over thousand acres with eighteen hole golf course as the centrepiece. The project involves setting up of luxurious golf course villas with scenic mountains and lush greenery in the background. Rakindo will offer these exclusive villas on ‘Own by Invitation Only’, a first for such project in Tamil Nadu. The project is located southwest on the Coimbatore-Palakkad route and will have more than twenty million square feet of constructed space.

According to Mr. Prasad Konery, managing director, Rakindo Developers, “our vision is to create theme-based townships which will offer holistic lifestyle and world class amenities. The Kovai township project will be a signature project and will provide an ideal living experience.”

Mr. Prasad said that Scheduled to be launched in the third quarter of this year, the self-sustaining township project will also house an IT SEZ, specialty hospital, schools, star hotel, clubhouse and wellness centre, retail, commercial and eesidential developments among host of things. He further said,“Rakindo is committed to investing Rs 20,000 crore in India over the next five years and will on a conservative estimate build about fifty million square feet. The company will in the course of next one year announce a slew of new projects in Kerala, Tamil Nadu and Karnataka”.

With a land bank size of over 3,000 acres, Rakindo is fast evolving as one of the biggest players in the Indian realty industry. The company plans to establish a pan-India presence over the next five years with a slew of projects. The company also plans to diversify into retail, hospitality, education and healthcare sectors through strategic alliances and partnerships.

Rakindo To Set Up $1.5 Billion Integrated Township

rajani — Fri, 18 Apr 2008 12:14:56 +0000

Real estate developer Rakindo Developers has unveiled its plan to build a $1.5 billion (Rs 6,000 crore) integrated township at Coimbatore. It is expected to be ready for launch by the last quarter of 2008. Mr Prasad Koneru, MD, Rakindo Developers, told that the flagship project of Rakindo Developers in the texcity will be developed over 1,000 acres with an 18-hole golf course as the centerpiece.

The self-sustaining township would house luxurious golf course villas with scenic mountains and lush greenery in the background. Mr. koneru said,“We are a master developer, who believe in the concept of optimum utilization of land rather than looking at per square feet utilization”. Further he said that the project will be independent of the existing infrastructure system, by bringing in a comprehensive facility management. On pricing, Mr Koneru said while golf-facing villas would command a specific price; there would also be high-end and medium-range apartments.

Scheduled to be launched in the third quarter of this year, the project, will be built around the concept of ‘walk to work culture’, which is the central theme of all Rakindo properties. It will also have an IT SEZ, specialty hospital, schools, star hotel, clubhouse and wellness Centre, retail, commercial and residential developments.

Stating that it is not targeting investors but customers, who are desirous of experiencing a township way of life, Mr Koneru said “ultimately, we do not want to create a ghost town as our objective is to creatively service people.”