New Delhi:The Center cleared twenty-three new special economic zones (SEZs), including seventeen projects for setting up information technology and IT-enabled services (ITeS) zones, besides giving in-principal approval to six proposals.
The Board of Approval of the Special Economic Zones, headed by Union Commerce Secretary G. K. Pillai, considered a total of thirty-four SEZ proposals, including three proposals for conversion of in-principle approvals into formal approvals.
It cleared four IT and ITeS Special Economic Zones in Kerala that would be set up by the Kerala State Information Technology Infrastructure Ltd., while two IT, ITeS and electronic hardware SEZs of Godrej Real Estate Private Ltd. and S2tech.com Private Ltd. were approved in Andhra Pradesh.
By Rajani
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Posted in Property News
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Also tagged Commerce Secretary, Electronic Hardware, Information Technology Infrastructure, Infrastructure Ltd, Kerala State, Proposals, Real Estate, S2tech, Sezs, Special Economic Zone, State Information Technology
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Meerut is only 72 kilometers from new delhi. It is an ancient city, which belongs to Uttar Pradesh state. The great history from the city is that Mandodari, wife of Ravana, belongs to this city. Meerut is stand at 28.98 north and 77.7 east, and 219 meters above from sea level. Meerut is the major education center of Uttar Pradesh and students come from all over the country for higher education. CCS University, Meerut Institute of Engineering & Technology, Meerut Institute of Technology, L.L.R.M Medical College, Subharati Medical College and Shobhit University are the famous colleges of Meerut. The real estate market of Meerut as a industries and involves in construction of shopping complexes and apartments. There are various types of industries in Meerut, because the city is near to Delhi and Noida.
If you live overseas than Meerut property dealer may you help in find your dream projects. Meerut property dealers offer you to both types of properties like commercial and residential properties. Real estate in Meerut is riding the crest of increasing demand boosted by large availability of abundant land at throw away prices. MSX Developers, Era Group, Supertech Group, Majestic Properties, DLF are in the Meerut real estate market and increase the competition.
By Rajani
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Posted in Property News
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Also tagged Abundant Land, Amp, Apartments, Developers, Medical College, noida, projects, Real Estate Market, Residential Properties, Shobhit University, Shopping Complexes
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US-based real estate management, investment and development consortium, JNB Investments LLC, has forayed into the Indian hospitality market, with plans to set up 50 hotels in the country by 2015. The company will invest about Rs 2000 Crore in the development, which will be collected through internal accruals and other sources of funding.
JNB will develop properties in the five, four and three star segments. The first few properties will come up in Kochi, Bengaluru and New Delhi. The venture capitalist company is a strategic partner in the joint venture between Interstate Hotels & Resorts and JHM Hotels, for development in the Indian market. The joint venture called JHM Interstate Hotels India, will manage the group’s Indian development initiatives.
Talkint exclusively to Hospitality Biz, T J Barring, President, JNB Investment Company states, “We are aggressively considering hotel development in the tier two cities of India”. JNB is also considering expansion of its hospitality business at potential locations in Mumbai, Goa, Chennai, Amritsar, Calicut, Visakhapatnam and Jalandhar.
By manish
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Posted in Property News
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Also tagged Amritsar, Banglore, Calicut, Chennai, Goa, Hospitality, Hotels, Jalandhar, JHM, JNB, Mumbai, Vishakhapatnam
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Emirates Islamic Bank (EIB), a leading Islamic financial institution in the region, plans to launch a 2nd fund focused on the Indian real estate market following the doing well closing of its Danat India RIA Fund, the bank said on 3rd june.
The bank said the new fund will add to a growing portfolio of funds aimed at producing wealth for investors in the UAE.
EIB has successfully closed the Dh270 million Danat India RIA fund, which invests in the Indian real estate sector. The bank has paid up to Dh60m and collected Dh210m through subscriptions in the UAE and other GCC countries.
The bank, through the fund, will acquire 77.78 % equity in the Danat RIA Company, which has been established with the principle purpose of acquiring 500 acres of land to develop an integrated middle-income township within the boundaries of New Delhi. Indian investors own the residual stake in the company.
Faisal Aqil, general manager of retail banking at EIB, said the fund – the first EIB fund committed for investment in the Indian real estate sector – could achieve its targeted subscription.
“Construction of the project has already started and the mandate is for three years. However, the EIB has the right to extend the fund’s mandate to four years according to developments in the project.
“The target market of the township will be New Delhi’s growing middle-income population who are seeking more affordable housing opportunities,” he said.
By manish
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Posted in Property News
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Also tagged Danat, EIB, Emirates Islamic Bank, Gcc Countries, India, Indian Investors, Indian real estate, Islamic Financial Institution, Real Estate Sector, Retail Banking, Ria
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MUMBAI, May 2 - Indian property investors are aiming lower- to mid-end house owners in the booming economy now that sales of luxurious apartments have slowed.
With the number of families earning more than five thousand dollar per annum set to double to around twenty million in the coming two years, demand for small and simple apartments is set to mushroom.
“We haven’t touched the tip of the iceberg,” Niranjan Hiranandani, founder of Mumbai-based Hiranandani Group, said about the potential demand for homes.
“Young people don’t have housing open to them,” Hiranandani told a property conference in Mumbai this week, where talk of mass housing was a hot topic.
The property market has boomed since India eased rules on inward investment in the construction industry in early 2005, partly fuelled by pledges by foreign investors that they will drive up to twenty billion dollar into the country.
But government figures show only about two billion dollar has actually been spent in the preceding three years. Real estate prices have cooled in the last six months.
Developers had piled into the top-end of the housing market where profit margins are highest, for example, building 2,000 sq ft apartments in New Delhi suburbs that sell for $250,000.
But a young couple working in the media or software industry, who together bring in $25,000 a year, would need something half that price.
Developers are targeting the young workforce in a country where double-digit salary hikes are common in sectors such as real estate, information technology and financial services.
By manish
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Posted in Property News
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Also tagged Construction Industry, Foreign Investors, Government, house, Housing Market, Information Technology And Financial Services, Inward Investment, Luxurious Apartments, Property Investors, Real Estate Information, Real Estate Information Technology, Software Industry
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New Delhi-based real estate developer, Parsvnath Developers, plans to develop a mixed-use project, Parsvnath Planet Plaza, in Lucknow. The entire project is expected to incur an approximate cost of Rs 120 crore. Read More »
The Ministry of Railways have set up Rail Land Development Authority (RLDA) by an amendment to Railways Act, 1989 (Amendment No. 47 of 2005) for commercial development of vacant railway land for generating revenue. So far 115 sites, covering a total area of 1139 hectares (approx) have been entrusted to the Authority for commercial development at different places. In addition, 26 stations located in metropolitan cities and important centers have been identified for redevelopment as world class stations through Public Private Participation (PPP) by leveraging the real-estate potential of the land around and the air space above the stations.
As per current thinking Railway land is to be given to developers for commercial development through transparent bidding process on long term lease basis for development work without any budgetary resources. The work of redevelopment of identified 26 stations into World Class Stations are planned to be undertaken through PPP basis.
No funds from Railway Budget are envisaged to be invested except to the extent of meeting requirement of viability gap funding in exceptional cases of development of stations as World Class Stations.
The 26 stations identified for redevelopment as World Class Stations through PPP are : Nagpur, Pune, Carnac Bunder (Mumbai), Howrah, Lucknow, Anand Vihar (Delhi), Bijwasan (Delhi), Amritsar, Chandigarh, New Delhi, Varanasi, Chennai, Thiruvananthapuram, Secunderabad, Tirupati, Ahmedabad, Patna, Bhubaneshwar, Mathura, Bangalore, Gaya, Jaipur, Agra, Bhopal (Habibganj), Kanpur and Guwahati.
By Rajani
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Posted in Property News
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Also tagged agra, Ahmedabad, Amritsar, anand vihar, Bangalore, bhopal, bhubaneshwar, bijwasan, carnac bunder, Chandigarh, Chennai, Commercial property, delhi, gaya, guwahati, habibganj, howrah, Jaipur, kanpur, Land, lucknow, mathura, Mumbai, Nagpur, patna, Pune, railways, RLDA, secunderabad, thiruvananthapuram, tirupati, varanasi
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Most of the ETFs and Mutual Funds at the different Asset Managers are losing value, as can be noticed from the website of any one of the companies. One of the exceptions is the equity in the rising markets. This sector has matured seemingly and unaltered by the Recession in the US. India is one of the four countries Goldman Sachs pointed out as the leaders in FDI and development along with China, Russia, Brazil (BRIC) in the coming years. Along with China, India too has enjoyed booming exports and growth rates of 8-9% in the last few years, but India`s major economic strength is stated to be internal, or consumption based, rather than a focus on exports solely.
At the heart of the boom in India is its real estate, which unlike Communist China`s, is privately owned. Real Estate prices in India have been growing at a rate of 30-40% for the last few years. Investment banks and Hedge Funds around the world have been investing more and more in the Indian Real estate, driving the prices higher. As per the Associated Chambers of Commerce and Industry of India (Assocham), the Indian realty sector is likely to see high growth rates in 2008. DLF, one of India`s premier Real Estate Development companies recently sold 49 % stake in its seven townships to Merrill Lynch and Brahma Investments to raise Four hundred twenty million dollar. Wachovia Bank picked up a 15% stake in another Indian Real Estate company for fifty nine million dollar. These US banks are the same ones that have lost billions in the US real estate market in the last 1year.
A comparison of the Real Estate prices in New Delhi and Chicago reveals the following figures:
* Condos in New Delhi, India: 2-bedroom, 1000 sq. ft. apartment for $200,000. [$200 per sq ft]
* Condos in Chicago, USA: 2-bedroom, 1000 sq. ft. apartment for $400,000 [$400 per sq ft]
The above has occurred despite the fact that the median income in Chicago is 50 times that in New Delhi.
Clearly, the House price increase in India is an unsustainable bubble. Such land or property bubbles have propped up in Russia, China, Ireland, etc. A bubble is characterized by low income to price ratios (when property rises a lot while income does not), or rent to price ratios(when property rises and rent does not). Such bubbles are financed by low interest rates, bad financing, or too much Foreign Direct Investment. Assuming there is a huge bubble in India, larger than that of the United States, this would have the same effect(if not larger) on the Indian Equity markets as has the US Real Estate on the US stock market. Studies show that a person is 2 times more likely not to spend his money if his house price falls by $1 than if his stock falls by $1. Tell that to Walmart, Carrefour and other Retail Stores that intend to open shop in India this year. As a bubble bursts, banks that lent the money always get into trouble as they recover less than what they lent, the low liquidity of the banks would cause lower business and a stock market crash.
By manish
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Posted in Property News
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Also tagged Assocham, Brazil, Chicago., China, DLF, goldman sachs, Real Estate, Real Estate prices, Rusia, Townships, US, Wachovia Bank
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New Delhi: Global realty brokerage firm Century 21 Real Estate LLC pronounce its foray into the Indian market with plans to open offices from all over the country, where it is eyeing a business of one thousand crore in next five years. The US-based company plans to open one thousand offices through franchisee route.
It would also have its own offices at fifty places in the country to supervise the entire operations. “In the next five years, we plan to have one thousand offices at pan-India level. Century 21 India country head A. Rathore told that he guess one thousand crore income after these sub-franchisees get entirely functional.
NEW DELHI: The Central Government on Friday cleared 18 foreign direct investment (FDI) proposals worth Rs. 1,553.26 crore. This includes Essar Capital’s plans to acquire the status of holding company to make investment in downstream finance and non-banking financial sector and induction of equity shares by Essar Global for Rs. 560 crore. The proposals also include Bharat Connect’s plan to change the status of an operating company into an operating-cum-holding company to make downstream investment in NBFC companies for Rs. 250 crore.
Redington India’s proposal for induction of foreign equity by a holding company in a company by way of acquisition of shares for Rs. 195 crore was also approved by the Government.
