Indian real estate sector
Sources say that a multi-crore deal between private equity firm IL&FS Investment Managers and real estate developer Logix Group has been called off. The proposed deal was estimated to be about Rs 600 crore. As per the deal, the Logix Group would have sold four office buildings in Noida to IL&FS Investment and the listed [...] Continue Reading »
Office space demand has increased in Noida recently. The demand for small space in the category of 500-2000 sq ft has witnessed the highest demand. However, the supply of these units have been limited, leading to rise in rental values in the last six months. Supply of office units is limited in sectors 18, 124, [...] Continue Reading »
Portman Holdings is planning to raise third party funds to invest in Indian real estate. The fund worth is estimated at $300 million. The company will raise these funds in overseas markets in the first half of 2013. It then plans to deploy the entire corpus in the next 30 months once the fund raising [...] Continue Reading »
The Confederation of Real Estate Developers Association of India (CREDAI) said that the state government’s policies will end up being its gift for Gujarat’s Gift City as the developers body witnesses Mumbai and Maharashtra turning increasingly ‘investor unfriendly‘. Lalit Kumar Jain, president of CREDAI, has criticised the policies regarding the proposal to hike the lease [...] Continue Reading »
Alpha G Corp, a real estate developer is looking to develop a mixed use city centre in Surat and integrated townships in Ahmedabad, which spreads across more than 100 acres. The firm has successfully completed its one year in mixed use city centre in AlphaOne Ahmedabad which spreads across over 1.2 million square feet. AlphaOne [...] Continue Reading »
As political atmosphere heats up, Indian real-estate major DLF Ltd. has denied allegations that it gave interest-free loans and sold land and apartments at throwaway prices to Robert Vadra, the son-in-law of Congress president Sonia Gandhi. India Against Corruption activists Arvind Kejriwal and Prashant Bhushan had alleged last week that DLF received undue favoritismreturn for [...] Continue Reading »
Lalit Kumar Jain, president of the Confederation of Real Estate Developers’ Association of India (CREDAI) has stated that corruption is the biggest trouble glaring the real estate sector. At the opening address of 12th NATCON, the Credai president remarked that that the humiliating approval process and corruption is to blame for the problems of developers [...] Continue Reading »
Venture fund Fulcrum Venture India has exited from real estate firm Casa Grande. Fulcrum got back return of over 10 times as they had invested Rs 4.8 crore in FY 2004 and have exited at Rs 50 crore. Chennai-based Casa Grande was launched in 2004 by M Arun Kumar and KR Anerudan. It builds luxury [...] Continue Reading »
International property consultants are introducing new business streams and realigning their focus areas in India to tap segments which are predicted to attract increased demand. CBRE Inc., a top commercial office space service provider headquartered in California, has strengthened its capital markets division in India. The capital markets team will largely arrange finance for developers [...] Continue Reading »
In order to give a boost to the real estate sector, financial services secretary D K Mittal has asked banks to focus on funding of partially completed residential projects on a priority basis. Funding projects in small towns has also been asked to prioritise. In a meeting with Indian Bankers’ Association (IBA) and developers body [...] Continue Reading »
