Buying Selling Renting Made Easy

HDFC, India's largest housing finance company has made a big move in the home equity business by offering loans against property at 13.25%. This could turn out to be a big business opportunity for the lender since most of its borrowers pre-pay home loans. The finance through the home equity route makes available finance at a cheaper rate than, ...

Berggruen Holdings is a private company, with interests in private equity, stocks and bonds, hedge funds, art and real estate. Berggruen Holdings is a New York-based fund which manages proprietary capital worth over $1.5 billion, plans to invest over $300 million in India over the next three years in hospitality, real estate, education, ...

This is a Good News for all those who has invested in Puravankara's IPO, Puravankara Projects registered a consolidated net profit of Rs 61.89 crore for the quarter ended June 30, up by 41 per cent compared to the corresponding quarter last fiscal. The firm registered an income at Rs 157.58 crore for the quarter, an increase of 31 percent over ...

Puravankara Projects has announced its fourth quarter and FY08 results. The company's FY08 consolidated net sales were up at Rs 565.81 crore from Rs 416.85 crore. Its FY08 consolidated net profit was up at Rs 240.05 crore versus Rs 129.10 crore. Its Q4 consolidated net sales were up at Rs 546.9 crore from Rs 140.95 crore. Its Q4 ...

DLF, Nitesh Estates and HDFC Realty are amongst the bidders reportedly in the fray to acquire NRI tycoon C Sivasankaran’s Beacon House, located off the upmarket Cenotaph Road in the heart of Chennai. The 3-acre property, a former residence of UB Chairman Vijay Mallya when he controlled Best & Crompton (B&C), may fetch as high as Rs ...

UAE-based Phoenix Group Global, a major player in hospitality, realty and floriculture sectors is will make its presence felt in India by investing an additional Rs.1500 crore in the hospitality and realty sectors in a couple of years. The group is setting up a deluxe five-star business hotel at Whitefield in Bangalore at a cost of Rs.100 -150 ...

ITC's subsidiary hotel company Fortune, which addresses the mid-segment, has announced plans to set up its own hotels. Under its Fortune brand, the hotel chain sets up properties with local partners, offering only management and operations support. According to Pawan Verma, executive vice president of operations at ITC hotels, Fortune Park ...

Shares of Brigade Enterprise posted a flat listing at Rs395 versus an issue price of Rs390. The company offered 16,624,720 equity shares of Rs10 each. The price band was fixed at Rs351 to Rs390 per equity share.Brigade Enterprise is one of the leading real estate development companies based in Bangalore, primarily focused on the development of ...

 ICICI Prudential Mutual Fund recently launched its real estate securities fund, which is the first real estate mutual fund in India. The new fund offer is open for subscription from November 15 to December 14, 2007. The fund will invest 51 per cent of its portfolio in high-yielding debt securities issued by real estate companies. The scheme ...

 In the first of its kind among property consultants, the UK-headquartered Knight Frank Group will launch a $250 million India-focused real estate fund. According to sources the offshore fund will raise investments from high net worth individuals and other investors from the UK and will have an investment threshold of $0.5 million and above. ...

  In view of the appreciating rupee, high wages and increasing real estate prices, big, medium and small IT firms have made a successful entry into tier-II cities. Encouraged by their progress, many small IT firms are now exploring tier-III cities such as Udupi, Manipal, Hubli and Belgaum in Karnataka, Kozhikode in Kerala, Tirunelveli in ...

Piramal Enterprises, part of the Ajay Piramal Group, is planning to develop properties in Mumbai's central and northern regions. The company has set up a joint venture (JV) with Sunteck Realty, Mumbai-based real estate developers. The move comes close on the heels of Ashok Piramal Group-formed after a formal family settlement with the Ajay ...

Bangalore-based Prestige Group has partnered a global mall operator to float a 50:50 joint venture company.   Irfan Razack, Chairman and Managing Director, Prestige Group declining to name the company, said, “We recently signed an agreement to float a joint venture company and the partner will be announced shortly after their board ...

US-based PKN Group said it will develop a Dh4.3-billion resort to bring "Las Vegas-style" living and entertainment to a desert area of Ajman near the border with Ras Al Khaimah. To hammer home the point that it would be fit for celebrities to live there, the company even brought Dirty Dancing star Patrick Swayze to endorse the plan. The ...

The Government has cleared seven co-developers in Mukesh Ambani-promoted Navi Mumbai SEZs, thus endorsing fresh investment through private equity players by a key partner of the RIL Chairman. "The Board of Approval gave a green signal to the Navi Mumbai SEZ proposal subject to their producing data on net assets of the co-developers," ...

The Ashok Piramal group's real estate arm, Peninsula Land (PLL), has purchased Rallis India's 31 acres of land at Patancheru near Hyderabad for Rs 90 crore. The acquisition, made through PLL subsidiary RR Mega Property Developers, marks the Mumbai-based developer's entry into the southern markets. "Western and southern India are ...

The uncertainty in the prices of property has made real estate companies to integrate into telecom. Developers want to tap the opportunities as telecom offers more revenue stability. Developers are lining up in droves to offer telecom services-or, more specifically, they are lining up to pick up licenses to do so. All the real estate biggies ...

Realty focused private equity funds are committing big money, when it comes to project financing. And so far JP Morgan's USD 360 has made its largest investment so far in an IT park in Navi Mumbai. The fund will invest Rs 100 crore or over USD 25 million in the development. It is said that JP Morgan's property fund will buy 40% in the 4.5 ...

To add more colour to the festive season, State Bank of India, has reduced interest rates on home loans by 0.5-1 per cent for different maturities. The new rates will be applicable for all new loans sanctioned on or after October 8. The scheme is valid up to December 31. Now, those seeking home loans from SBI will pay cheaper interest ...

According to the study conducted by HUDCO-IIM Ahmedabad every rupee invested in the real estate sector adds 78 paisa to the state's GDP. The sector will grow from $12 billion in 2005 to $90 billion in 2015. And majority of the growth is expected to come from the housing market. Although the average age for ownership is 32 years now as compared ...

The biggie of the real estate sector wants to grow bigger, as DLF Ltd plans to borrow $1.5 billion overseas to fund new projects and acquisitions in the next 30 days. It will spend half of the money on buying shares in DLF Offices Trust, a Singapore based entity. The Senior Vice President Mr Saurabh Chawla remarked that ...

For the poor and unprivileged section of Indian Society owning a pucca house still remains a dream. Whereas the World Bank report of April 2007 shows the amazing impact of replacing dirt floors by cement floors in Mexico, adults reported 69 percent higher satisfaction and children's educational development improved by up to 96%. And in India ...

Bangalore based real estate developer, Golden Gate Properties, is believed to be close to a sale of a 20%-30% stake in the company. Leading financial institutions like ABN Amro, Credit Suisse and Deutsche Bank are reported to be in the race for picking up this stake for an estimated $100 million, according to an article in the Economic Times. The ...

The Karnataka government has awarded the 9,187-acre Bidadi Knowledge City, which will be positioned as New Bangalore, to the country’s largest realty firm DLF Ltd.   This project is three times the size of DLF City, the realty firm’s flagship integrated township in Gurgaon.   The project will entail an investment of over Rs ...

The race for retail space in Bangalore is turning chaotic. With rising income levels attracting both local and international retail brands, the city’s overall vacancy rate dropped to a historic low level of 0.3% between April and June, 2007, according to a Jones Lang LaSalle (JLL) report. In contrast, the National Capital Region (NCR), the ...

A huge Rs 25,000-crore investment in the form of 11 integrated townships for IT, BT and ITES sectors is on its way in Bangalore. In a major boost to IT and the real estate sector, the Karnataka government has given the green signal to 11 local, national and international developers to set up mega townships in the city. The state high-level ...

Joining the big league of property developers who have ventured into hospitality, Mumbai-based Phoenix Mills has said it will set up a 30-storeyed luxury hotel at Lower Parel, Mumbai. A subsidiary - Pallazzio Hotels and Leisure - will develop the property, while Hong Kong-based Shangri-La will manage the hotel. The property - to be named The ...

MUMBAI: The initial public offering of Puravankara Projects was subscribed 1.91 times according to data available on the exchanges’ websites at 8 pm on Wednesday. The IPO received bids for over 4.09 crore shares against the issue size of 2.14 crore shares. However, the issue evoked a tepid response from non-institutional and retail ...

Unstable markets have prompted Puravankara Projects, a Bangalore-based real estate company, to revise its initial public offer (IPO) price from Rs 500-525 per share to Rs 400-450 per share and extend the closing date by five days to August 8.  The company will now be raising Rs 850 crore at the lower end and Rs 956 crore at the higher end, ...

BANGALORE/MUMBAI: Mukesh Ambani-led Reliance Retail is vying for Hindustan Unilever’s (HUL) real estate assets in Bangalore, which is on the block. Also in the race are real estate majors DLF, Hiranandani and Nitesh Estates. The 28-acre property at Brookefields, located in the heart of the city’s IT corridor, is expected to ...