Mangalore real estate developers seek funds
The real estate developers’ body in Mangalore has urged bankers not to compare them with developers in mega cities while extending funds to them. Speaking at the inauguration of a home loan fest, organised by the State Bank of India (SBI) here on Saturday, Mr P.M.A. Razak, Chairman of Mangalore chapter of CREDAI (Confederation of [...]
Luxury Brands Prefer Heritage Homes over Five-Star Hotels
Heritage homes are fast becoming the favourite hunting grounds of luxury brands scouting for premium retailing space in India, where suitable high-end malls are too few and the sales potential at five-star hotels is still uncertain. When designer wear brand Kimaya Fashions searched for a store in Hyderabad, it settled on a 16,000-sq ft bungalow [...]
Chatwal group eyes expansion in hotel biz
Indian American Sant Singh Chatwal-led Hampshire Hotels & Resorts, on Monday, announced an aggresive brand building initiative in India, with the plan to open 52 hotels here in the next five years. The chain plans to expand its international hospitality brands Dream (a mid-size boutique hotel) and Night (a contemporary luxury property) globally, and in this [...]
Mantri Developers replaces Maytas in Jubilee Hills Landmark Project
Bangalore-based real estate firm Mantri Developers is replacing Maytas Properties, the Satyam group firm that was building Jubilee Hills Landmark along with ICICI Venture and Nagarjuna Constructions Company. The project was stalled after the founder of Maytas Properties and the erstwhile Satyam Computer Services, Ramalinga Raju, got embroiled in an accounting fraud. According to the [...]
Office space absorption in 2011 up 8% over 2010
Even with a slowing economy and global uncertainty, the total absorption of commercial office space in India has increased by 8% in 2011 to reach 35.5 million sq ft, says real estate consultant Cushman & Wakefield. The total addition of new space though has declined by 20% in the year, which has helped to reduce [...]
MagicBricks.com presents Virtual Property Expo for NRIs
For the First time ever, MagicBricks.com, a leading real estate portal, is putting up a virtual property fair from November 28 to December 18, 2011, at IndiaCalling.MagicBricks.com. The virtual property expo has been organised for NRIs residing in the USA. At the India Calling – Virtual Property Expo, users can browse through the many projects [...]
Uproar in Parliament over Govt’s Decision to allow FDI in Retail
The Lok Sabha and the Rajya Sabha were adjourned till noon, minutes after the two Houses gathered on Monday, as a united opposition created uproar over government’s decision to allow FDI in retail. The opposition members were up on their feet shouting slogans against the government. In Lok Sabha, plea for calm by Speaker Meira [...]
DLF hopes to reduce debt to Rs 10,000 cr in two years
NEW DELHI: The country’s largest realty firm DLF expects to pare its debt burden of over Rs 22,500 crore to less than half in the next two years. As part of the strategy to bring down its total debt to about Rs 10,000 crore by 2013, the firm is closing in on a few deals [...]
JP Morgan Fund invests in Nitesh Estates
To develop residential projects in Bangalore, a proprietary investment arm of JP Morgan will take 50% stake in a Rs 1,500 crore joint venture with Nitesh Estates, a property / real estate development company in India. A banking source familiar with the matter stated that the JP Morgan Fund will invest $40 million, or Rs [...]
