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Chennai

Leela ventures may sell Delhi & Chennai hotels

Leela ventures may sell  Delhi & Chennai hotels
Hotel Leela venture is in talks with sovereign wealth funds of Abu Dhabi, Qatar and Malaysia to sell off its two main properties situated in Delhi and Chennai for around Rs 1,850 crore. The two properties will be hive off into separate entities by the firm which owns, operates and manages hotels, palaces and resorts. [...] Continue Reading »

Election 2014-Generating big hopes for investors in property

Election 2014-Generating big hopes for investors in property
The BJP manifesto made at least three promises of direct interest to real estate developers. The party promises to put up 100 new cities, develop a national land use policy and nationally roll out a low-cost housing plan. For investors in property and for the sector as a whole, the promise to upgrade infrastructure and [...] Continue Reading »

Mega food park in Koraput

Mega food park in Koraput
In as many as 23 states, MoFPI has approved a total of 40 mega food park projects in various stages of implementation. Under the Mega Food Park scheme of the Union ministry of Food Processing Industries (MoFPI), a state PSU, The Odisha Agro Industries Corporation Limited (OAIC) is eager to set up a mega food [...] Continue Reading »

Hospitality sector poised for a significant upturn

Hospitality sector poised for a significant upturn
According to Ajay K. Bakaya, Executive Director of Sarovar Hotel, country’s hospitality sector is poised for a significant upturn over the next six months. He added that there has been a prolonged sluggish situation in the hospitality sector due to various factors including economic slowdown. A lot of reports including that of World Bank and [...] Continue Reading »

CLB puts a stop on Aruna Hotels’ Chennai property development

CLB puts a stop on Aruna Hotels’ Chennai property development
The CLB advised the respondents, in an interim order on April 9, to refrain from selling or creating any third party interest in the property. The respondents include M Shivaram, Chairman and Managing Director of Aruna Hotels; Kartick Shivaram, Executive Director; and the Directors S Kalyanam, CL Ravichandran, and Kamal Babbar. The 1.2 acre property [...] Continue Reading »

If purchasing a property, select one before elections are over

If purchasing a property, select one before elections are over
Discounts and offers from real estate developers are common but during this Navaratra the real estate developers are offering huge discounts and flexi payment scheme to attract buyers. The reasons behind this response are that the real estate market is noticing oversupply. As per Cushman and Wakefield there was 12 percent decrease in new launches [...] Continue Reading »

86 acres bought by Polyhose near Chennai

86 acres bought by Polyhose near Chennai
The country’s largest manufacturer of hydraulic, industrial and automotive hoses, Polyhose India has gained 86 acre land parcel which earlier belonged to Presidency Kids Leather, nearby Chennai. Under the SARFAESI Act the land was acquired through an auction conducted by Syndicate Bank. The deal size is said to be close to Rs 100 crore, including [...] Continue Reading »

Senior citizens – a budding real estate mkt for developers

Senior citizens – a budding real estate mkt for developers
As per realty experts, for property developers as well as other allied services providers senior citizen are emerging as a new customer segment for creating a proper assisted living environment for them. According to a report by property consultant Jones Lang LaSalle, senior citizens are now being looked at as a potential real estate market [...] Continue Reading »

In Jan-March 2014, office space demand decreases

In Jan-March 2014, office space demand decreases
As per a report, the demand of office space has reduced in the first quarter of 2014 with nearly6.3 million square feet of office space getting absorbed across the major cities of the country as against 6.6 million square feet in January-March 2014 period; showing a decrease of 5 percent. Report also concluded that the [...] Continue Reading »

Starwood Hotels thinking to launch St Regis & W Hotels in India

Starwood Hotels thinking to launch St Regis & W Hotels in India
The world famous hospitality player Starwood Hotels & Resorts is planning to launch its luxury brands St Regis and W Hotels in India to meet the demand of the Indian market. With the launch of this brand in India, Starwood will have eight out of its nine brands in India. Mr. Dilip Puri, managing director [...] Continue Reading »



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