Puravankara Targets Overseas Market; Plans Project in Sri Lanka
Real estate developer Puravankara is eyeing the overseas market for expansion. The company’s maiden project in a foreign soil is coming up in Sri Lanka. The company had invested on the land some years back, but postponed development as the situation was not congenial for promoting mega projects. “We were waiting for the right time [...]
Zandu Realty Strucks Deal with Mumbai Based Sheth Developers to Rebuild Herbal Healthcare Firm
Zandu Realty Ltd has struck a deal with Sheth Developers Pvt Ltd to rebuild erstwhile herbal healthcare firm Zandu Pharmaceutical Works’ headquarters in Mumbai’s Dadar neighbourhood into a 2.7-acre commercial complex. On entering the development agreement, Zandu Realty, an Emami group firm, received Rs 70 crore in cash from Sheth Developers. It will also receive [...]
Mumbai Based Atlanta Receives Approval from Gujarat Govt to Set up USD 2 Billion Theme Park in Surat
In what could give a major fillip to Gujarat’s tourism industry, Mumbai-based Atlanta Ltd, an infrastructure development and real estate company, has received in principle approval from the state government to set up a USD 2 billion (Rs 10,412 crore) theme park in Surat. With the first phase of the project set to begin in [...]
CBI to Question Emaar MGF VC&MD
The Central Bureau of Investigation (CBI) will be questioning Emaar MGF vice chairman and managing director Shravan Gupta in the Emaar-Andhra Pradesh Industrial Infrastructure Corporation (APIIC) joint venture township project case. The CBI has already arrested key accused, Koneru Prasad, in the case. Emaar MGF is the developer of the 235-acre township project promoted by [...]
Indian property – right time to buy?
By Ankita Pandey Vallikappen Are the high prices and higher interest rates putting you off from buying property in India? If experts are to be believed, this is in fact the perfect time to finally seal the deal for that penthouse you may be eyeing in Chennai or that villa your wife fell in love [...]
Market slides as industrial production growth slumps to 2-year low
Key benchmark indices edged lower in volatile trade as the latest data showed that industrial production rose a dismal 1.9% in September 2011, the lowest rate of growth in 2 years and that food inflation remained at elevated level in late October 2011. The BSE Sensex was provisionally down 150.75 points or 0.87%, up close [...]
Market drifts higher as Greece shelves plans for referendum
Key benchmark indices edged higher amid intraday volatility after Pakistan on Friday, 4 November 2011, denied that it had backtracked on giving India Most Favoured Nation (MFN) trade status. Earlier, the market had slipped into the red for a brief period in afternoon trade soon after a news agency quoted an unnamed senior Indian government [...]
Investors withdraw from bank stocks as bond yields rise
A bout of volatility was witnessed as key benchmark indices recovered after weakening again in early afternoon trade. The BSE Sensex was down 214.43 points or 1.24%, up close to 51 points from the day’s low and off close to 132 points from the day’s high. The market sentiment was weak as the latest data [...]
Asia-Pacific markets fall on Eurozone debt worries, ahead of US supercommittee reports
Asia-Pacific markets ended the day largely in negative terrain for the fifth times in row, with the Thomson Reuter Asia-Pacific index declined 1.14% at 150.39 while the MSCI Asia index (excluding Japan) fell 2.04% at 455 on Monday, as investors remained concerned about the European debt crisis and awaited developments on the US economy. Meanwhile, [...]
The impact of CCI’s order on Indian realty firms
The recent judgment of the Competition Commission of India (“CCI”) in Belaire Owner’s Association vs DLF Limited has created ripples in the real estate sector. The news has come as another dampener for a sector that is already reeling under the impact of hike in interest rates, dwindling buyers and a looming recession in the [...]
