Real Estate sector

Real Estate sector set to get Rs. 32000 crore investments.

Indian realty has emerged as the apple-eye of domestic and overseas investors as listed and private equity funds are looking to pump in more than Rs.32000 crore in the real estate India, a new report says. The transparency in real estate India has contributed to the increase in interest by domestic and financial institutions, resulting in greater availability of financing for real estate developers an ICIC Property Services-Technopark paper said. This has provided to be the right impetus for listed funds such as Hiranandani Group’s Hirco, unitech corporate parks and Indiaballs Dev Property Development.

GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Infrastructure, has tied up finances for the additional investment of Rs.718 crore into the development of its Greenfield airport in Hyderabad. The additional facility of Rs.718 crore comprises rupee debt of Rs.200 crore and an ECB of Rs.518 crore.

-Sant Chatwal to open 7 star hotel chain in India.

Sant singh chatwal, a sikh Indian-American businessman, will invest Rs.4500 crore by 2009 for setting up a chain of hotels, including 7 stars in India. All hotels would be state-of-the-art with different food restaurants, discotheques and conference rooms. “We want to create convention centers with a capacity for 2000-3000 people in every hotel”. Chatwal, president and CEO of Hampshire Hotels and Resorts (HHR), said. “We are doing master planning for phase-I, which includes high-end 7-star hotels in major cities like Delhi/ Noida , Mumbai and Bangalore and dream hotels in Kochi, Hyderabad and Chennai, “he said.

Due to all those reason Indian real estate sector has emerged one of the top most investment market in property in India.

Courtesy-E.T.dtd.12-03-07

Real estate india

AIG enters realty with chennai deal

American International Group (AIG) has made its first move into one of the most buzzing sectors in real estate India, the real estate segment. On March 9,2007, the global financial sector power house, along with Bangalore based realty developer RMZ Corporation, bought an 11 acre plot in Chennai for nearly Rs. 300 crore from Hindustan Teleprinters Ltd (HTL), a subsidiary of Himachal Futuristic Communications Ltd. (HFCL), part its 46 acre area in the Gundy location of the southern city @ Rs.27.1 crore per acre through auction against the reserve price of Rs.22 crore per acre.

RMZ Corporation said it has plans to develop 60 million sq.ft. of real estate India over the next five years and is currently considering joint ventures and is in talks with various international financial partners.

-Lavazza to invest Rs.600 cr to buy proerty in India

Italy’s largest coffee company, Lavazza Group- the new owner of coffee chain Barista and Fresh and Honest Cafe-will invest Euro100 million (about Rs.600 crore) in the next three years on expanding business in India. “Lavazza will invest Euro100 million in the next three years to increase the presence of Barista and Fresh and Honest Cafe,” Barista Coffee Company CEO Partha Duttagupta said. He said as part of the expansion, Barista would have about 400 outlets across the country, up from the existing 156, in three years time. Most of them will be company-owned and at present also 150 outlets are owned by us and only six are franchisees,”he added. Fresh and Honest Cafe will also be looking at increasing its footprints in the automatic coffee vending and retail coffee poweder segments, he said.

Courtesy- E. T. dtd. 12-03-07