PE players are keen to join hands with builders
Post a lull of nearly three years, sale of large land parcels is picking up across the country amid a general improvement in sentiment on expectations that the new government will focus on infrastructure development.
Not only the developers but also the private equity (PE) players, too, are keen on joining hands with builders to acquire land parcels at fair valuations without having to pay a premium as corporate try to unbolt the value of their real estate properties, inspiring the realty market out of its trance. Some of the builders looking for the sewing of large land transactions which include Tata Housing Development Company, Oberoi Realty and Runwal Group in Mumbai, DLF in Delhi, Prestige Estates Projects in Bangalore, VGN Developers in Chennai and Kolte-Patil Developers in Pune.
Mostly all of the properties on block are non-core assets, real estate and manufacturing facilities of corporates that can easily be converted to residential or office projects. Developers have access to liquidity and are putting war chest together in anticipation of high growth and conducive interest rate stated that Ambar Maheshwari who is the managing director of corporate finance at property consultancy JLL India.
Source: The Economic Times
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