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November 30, 2006

Ascendas real estate fund buys Cyber Pearl IT Park in Hyderabad | INRnews

Hyderabad, November 30, 2006 :  Ascendas India IT Parks Trust, a $350-million private real estate fund, has purchased L& T Infocity Ascendas Limited (LTIAL) owners of the Cyber Pearl IT Park in Hitec City in Hyderabad. The fund was set up by business space provider Ascendas.

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November 17, 2006

Madhapur - the preferred commercial real estate destination in Hyderabad | INRnews

Hyderabad, November 17, 2006 : Hyderabad is a yet another example of an evolving real estate market, where suburban developments rather than CBD developments are in high demand. Madhapur continues to be the preferred destination for corporate tenants, as the buildings offer better quality of construction, professional maintenance, larger floor-plates, scalability options, air-conditioning, adequate parking and 100% power back-up. Further, most of these complexes have been completed on government allotted land and therefore they have clear titles, unlike in and around the CBD, which face various issues.

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November 15, 2006

India's retail revolution begins | INRnews

Hyderabad, November 15, 2006 - If India's much anticipated retail revolution has a start date, it could well be the first week of November 2006. On November 3, in a classic RIL move marked by scale and ambition, Reliance Retail launched 11 Reliance Fresh retail outlets simultaneously in the southern Indian city of Hyderabad, firing the first salvo in what will be a keenly contested battle to win a huge prize - nothing less than the wallets of Indian consumers!

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November 10, 2006

Leverage India Fund invests Rs 17.50 crore in Digital Shoppy | INRnews

Hyderabad, November 10, 2006 :  Digital Shoppy, a retail chain of stores for consumer electronics and home appliances in Andhra Pradesh and Karnataka, today announced that the Company has concluded a private equity placement of Rs. 17.50 crores with Leverage India Fund managed by IL&FS Investment Managers Limited (IIML), one of India's largest private equity firms.

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November 02, 2006

Cognizant to invest Over $200 Million in India real estate expansion | INRnews

Teaneck, NJ – November 2, 2006 – Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of IT services, today announced plans to further expand its infrastructure in India through an expansion of its existing real estate development program. As part of this program, Cognizant plans to develop state-of-the-art techno-complexes and expand its infrastructure in five cities – Chennai, Coimbatore, Hyderabad, Kolkata and Pune.

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October 19, 2006

Kanbay opens new software facility in Gacchibowli, Hyderabad | INRnews

October 19, 2006 : IT services firm Kanbay International has opened a new software development facility on 15 acres of land in the IT Park at Gacchibowli in Hyderabad.

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October 04, 2006

Xilinx opens development center in Hyderabad

Hyderabad, October 4, 2006: Xilinx, Inc. the world’s leading supplier of programmable logic solutions, today announced the opening of its own development centre in India, located in a 33,000 square foot facility in CyberPearl, Hyderabad.

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September 29, 2006

Hyderabad real estate prices continue to rise

Hyderabad, September 29, 2006: Hyderabad real estate prices are on a roll. In prime areas, apartments go for anywhere from Rs. 2,800 to Rs. 3,500 per sq.ft a significant increase from even a year ago. According to one real estate source, real estate prices have increased by 10% every week for the last three months.

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September 28, 2006

Spencer's - a leading supermarket brand in India

Chennai, September 28, 2006: Spencer's is fast emerging as a key retail brand in the country. The 80-store supermarket chain, part of the RPG group, is comprised of 7 hypermarkets each occupying more than 35,000 sq.ft, 3 supermarkets up to 15,000 sq.ft, and 70 Daily stores between 4,000 to 7,000 sq.ft where consumers can purchase fresh produce, frozen products, bakery products, groceries and other daily requirements.

Spencer's Retail plans to open Spencer's Dailies in Pune, Hyderabad, Trichy and Bangalore. According to the company, in October it will open one new store every two days.

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September 25, 2006

Apex CoVantage Opens New Facilities in Hyderabad and Chennai | INRnews

Herndon, VA, September 25, 2006 : Apex CoVantage, a leading global knowledge process outsourcing (KPO) company, announced the opening of two new facilities in the southern Indian cities of Hyderabad and Chennai to accommodate its expanding business providing GIS (geospatial information services) solutions for organizations in the electric, gas, rail, telecommunications, and water utility markets, as well as local government.

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Hyundai and suppliers to invest $1.5 billion in India

New Delhi, September 25, 2006: Carmaker Hyundai Motor Co announced significant expansion plans in India. The company plans to invest over $900 million to beef up its facilities in the country and expects its affiliates and suppliers to invest close to $600 million in addition. The investment would go towards a car, engine, transmission plant and an R&D Centre.

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September 24, 2006

GMR Infrastructure to venture into real estate development

Bangalore, September 24, 2006: Bangalore based infrastructure company GMT Infrastructure is to expand into real estate development across India. The company is looking at land acquisition in Bangalore, Hyderabad and Kolkata for residential as well as commercial realty projects.

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September 20, 2006

Bhagyanagar to sell land in Hyderabad

Hyderabad, September 20, 2006: Bhagyanagar India is to sell 50% of its land in Gachibowli, Hyderabad to RIL for between Rs.70-80 crore according to news reports. The company plans to develop a mall on the remaining land in partnership with Godrej Properties.

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September 15, 2006

Hyderabad to see new retail outlets

Hyderabad, September 15, 2006: ITC has opened it's first farm-fresh produce store "Choupal Fresh" in Hyderabad. The 2,500 sq.ft store will provide fresh fruit and vegetables on a wholesale and retail basis.

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September 13, 2006

Polaris Software opens IT facility in Hyderabad

Software Company Polaris has opened a facility focused on developing technology solutions for the investment banking industry. The 200,000 sq.ft. facility called "The Capital" is built on eight acres of land at the Manikonda IT Park in Hyderabad. Developed at a cost of Rs. 70 crores, the facility can house 2,000 employees initially.

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September 11, 2006

Unison to set up 5-star hotels at a cost of Rs 2,000 crores

Unison Hotels, promoters of The Grand in Delhi plan to invest over Rs.2,000 crores to set up eight five-star hotels in the country. The hotels are to be in Bangalore, Chandigarh, Chennai, Hyderabad, Kolkata, Pune, and Mumbai. This move follows growing demand for accommodation in India and high occupancy rates enjoyed by hotels.

The company has already acquired land in Hyderabad for it's proposed five-star hotel and service apartment block.

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September 09, 2006

K Raheja expands real estate projects in Hyderabad

Mumbai based real estate developer K.Raheja is to expand its projects in Hyderabad. On the anvil is an expansion of the Mindspace IT Park at a cost of Rs. 400 crore, development of the 7 million sq.ft. of office cum residential space Pocharam Park, and the development of a 350,000 sq.ft. mall in Hyderabad within 3 years.

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September 04, 2006

IVR Prime to aggressively develop real estate projects across India

IVRCL hopes to execute real estate projects across the country,including townships, residential estates, golf courses, shopping malls and hotels, in the next four years. The estimated cost - Rs.6000 crores.

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August 30, 2006

Microsoft opens new building in Hyderabad

Hyderabad, August 30, 2006: Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy inaugurated a new 395,000 square feet facility on the 50-acre Microsoft campus at Gacchibowli. The new facility will host the Microsoft global delivery centre and Microsoft global services India teams.

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August 28, 2006

Gachibowli, Hyderabad on real estate map

25 acres of land have been acquired by Bhagyanagar Metals Limited for developing an IT Park and residences. The property has been bought at a reported price of Rs.83 crores raised from wholly owned subsidiaries, Bhagyanagar Properties Limited and Scientia Infocom India Limited. The diversification into property development by Bhagyanagar Metals Limited has followed rising profit margins in the field.

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August 24, 2006

Bullish on real estate in the South (External Article)

ICICI Venture fund manager, Kishore Gotety who manages a $550 million fund focused on Indian realty is bullish on opportunities in the South particularly in Hyderabad, Bangalore and Chennai. In an interview in FinanceAsia he opines that real estate opportunities in India witnessed so far are only the tip of the iceberg.

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August 19, 2006

Over 700 properties to be demolished in Hyderabad

Over 700 properties are likely to be demolished in Hyderabad as part of proposed road widening around the Charminar. Seven roads are to be widened to 60 feet, affecting roadside properties, including about 15 government properties. The government is also planning to acquire land for a 3 kilometre inner ring road and a 10 kilometre outer ring road around Charminar.

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August 06, 2006

Infrastructure Management and Property Development Ventures for Madhucon

Hyderabad-based Madhucon has big plans for the future. Apart from plans to develop 1,000 km of toll roads in two years, where the company will manage as well build the roads, Madhucon will enter the lucrative market of developing and maintaining existing highways.

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August 02, 2006

Taj GVK group to develop three new hotels

The Taj GVK group is progressing plans to develop three new five star hotels one each in Chennai, Bangalore and Hyderabad. The 125-room Chennai hotel already under development is likely to be completed by March 2007. The 189-room hotel in Hyderabad is likely to be ready by 2008. Taj GVK is also to acquire land for the Bangalore hotel.

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Property value and land registration charges rise in Andhra Pradesh

The Andhra government has increased the market value of land and buildings across all municipalities, corporations and special grade municipalities by 10 to 20 per cent. Registration charges will correspondingly move up to to the higher property value. Registration charges stand at 9.5 per cent, including a stamp duty of 7 per cent of the market value, transfer duty of 2 per cent and registration fee of 0.5 per cent.

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Simplex Somdatt in running for elevated expressway project

Simplex Somdatt has quoted the lowest amount, Rs. 439 crore, for the Mehdipatnam to international airport elevated expressway project in Hyderabad. The bid was 2.5% lower than HUDA's estimated construction value and lower than the other bidders - Gamon India, IJM Corporation, Malaysia, Italian Thai Development, Bangkok, Navyug Engineering, and Punj Loyd. Simplex Somdatt is likely to be awarded a letter of acceptance by Aug 10.

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August 01, 2006

Wells Fargo to set up IT centre in Hyderabad

APInvest has landed a major deal for the state with US financial services major Well Fargo deciding on Hyderabad as the base for its IT and BPO centre. Wells Fargo plans to set up operations in Hyderabad by October this year and employ close to 500 people.

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July 29, 2006

Booking commence for villas in gated community in Hyderabad

Bookings have started for villas in Prajay Celebrity villas, a 18 acre gated community in Shamirpet. The villas are to be completed by October 2006. Prajay Engineers the developers have also announced a new project, Prajay Harbour City, a township on 150 acres of land near Vizag.

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July 22, 2006

Hyderabad real estate prices soar as land auction fetches Rs. 700 crore

The Hyderabad Urban Development Authority (HUDA) has realised Rs. 703 crore from the sale of 69 acres of land in the town of Kokapet, 20km from the city. The 15 plots sold in the Golden Mile layout are in a good location next to the Outer Ring road and close to the Financial district and IT hub in Gacchibowli.

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May 26, 2006

Destination Hyderabad - The Deccan Queen is next on the hot real estate chart

Would you believe that over two thousand bankers and financiers in Asia would meet in Hyderabad. And that they would be part of a convention that was conducted smoothly with world-class facilities. You'd better believe it. The Asian Development Bank concluded its convention at the Hyderabad International Convention Centre (HICC), India's most modern yet.

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May 01, 2006

Andhra Pradesh government frames guidelines for allotment of land to IT firms

The Andhra Pradesh government is framing guidelines for allotment of land to IT companies. This is because it is finding it difficult to meet the demands of the IT industry. Infotech companies are queuing up to set up own campuses in Andhra Pradesh. The government was forced to take this decision as it doesn't have enough land to meet the demand of the IT industry. 1,200 acres of land acquired by the Government has already been exhausted. The Madhapur-Hi-tech city area has reached saturation, so has the area around Shamshabad International Airport.

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