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November 30, 2006

Rail land development authority constituted | INRnews

New Delhi, November 30, 2006 : The Rail Land Development Authority (RLDA) has been constituted through an amendment to the Railways Act, 1989 with effect from 1.11.2006. The Authority will cosist of Chairman, Vice-Chairman and four members, including one from outside (i.e. non-Railway member) who will be an expert in real estate.

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November 27, 2006

FDI’s share in Indian real estate to touch 26% By March 2007 | INRNews

New Delhi, November 27, 2006 : FDI’s share in domestic real estate market will touch about 26% by March 2007, 10% higher than levels of 16% for fiscal 2005-06. This is expected to be driven by the growing interest of global real estate players in the Indian real estate market and increasing demand for office space particularly in IT & BPO.

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November 23, 2006

Retail Expansion spills over to Tier II and III cities in India | INRnews

Bangalore, November 23, 2006 : The Indian organised retailing story is no longer limited to Tier I cities. The retail vehemence has entered Tier II and III cities in the country according to real estate services firm Jones Lang LaSalle (JLL). The firm also expects retail supply to be created in SEZs as well as for mall developers to adopt a revenue sharing moderl with retailers.

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November 21, 2006

Indian real estate market growing by 30% a year | INRnews

Bangalore, November 21, 2006 : New research issued by global real estate adviser DTZ has revealed that India is becoming one of the world's key emerging real estate markets.

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November 19, 2006

Old Mutual in large retail leasing deals in India | INRnews

Mumbai, November 19, 2006 : Two large retail leasing deals have been signed in India by Pioneer Property Zone, a joint venture between Johannesburg and London-listed Old Mutual Property Group and ICS Infrastructure, of India. The deals are for Viva City in Thane with 650,000 square feet of retail space, and for a luxury mixed-use development in Bangalore. The leases cover a combined 50,000 square meters for both projects.

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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 06, 2006

Investor perception and risk management in retail real estate | INRnews

Bangalore, November 06, 2006 : Ambar Maheshwari, investment advisory director of global real estate adviser DTZ in India looks at the issues surrounding investment in retail real estate.

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November 02, 2006

CCEA approves funding of terminal market complexes under national horticultural mission | INRnews

New Delhi, November 02, 2006 - The Cabinet Committee on Economic Affairs today gave its approval for a new component within the on-going Centrally Sponsored Scheme ‘National Horticulture Mission’ (NHM) for funding of modern Terminal Market (TM) projects for fruits, vegetables and other commodities in public-private-partnership (PPP) mode. Such participation would be by way of share in equity upto 49% by the Central / State Government.

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October 24, 2006

BSEL awarded contract to build 6 malls in Nagpur | INRnews

Mumbai, October 24, 2006 : BSEL Infrastructure Realty along with its JV partner Unity Infraprojects have been awarded a contract by the Nagpur Municipal Corporation for the construction of six shopping malls in the city.

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October 09, 2006

ASSOCHAM For 49% FDI In Retail Sector

New Delhi, October 09, 2006:  While the domestic industry is opposed to 100% foreign equity in the fast growing retail sector, the overwhelming majority of the domestic firms are keen on allowing 49% FDI in a calibrated manner, according to ASSOCHAM.

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October 02, 2006

Amarpali group launches mall at IMT Manesar

New Delhi, October 2, 2006: Amarpali Group, a well-known name in the real estate business, launched its Shopping Mall Cum Corporate Hub at IMT Manesar. Positioned on the Manesar entry road on NH8, the 6804 sqm ultra-modern mall is a strategically located commercial complex amongst all HSIDC approved projects. Two SEZs by DLF & Reliance are also proposed near the site location.

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September 30, 2006

Bombay Dyeing to develop prime real estate in Dadar, Mumbai

Mumbai, September 30, 2006: The Wadias of Bombay Dyeing are to develop the 35-acre Spring Mills site in Dadar Naigaum into a residential and retail complex. The site is amongst the largest mill sites available in Mumbai city that is available for redevelopment after a supreme court ruling to this effect earlier in the year.

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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 27, 2006

Punjab : The Mall Capital of India!

New Delhi, September 27, 2006: Amol Arora, Director - Emgreen Projects Ltd., takes a close look at the rapidly growing retail market in Punjab and the emerging mall boom in the top cities of the state.

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September 24, 2006

Pen Group makes foray into real estate in Kerala

Kochi, September 24, 2006: Kerala based Pen Group plans to diversify into real estate. The publishing group with a turnover of Rs.35 crore expects the real estate venture to increase its revenue by three times within one year.

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September 23, 2006

Hiranandani to develop commercial real estate space below Andheri flyover

Mumbai, September 23, 2006: Real estate developer Niranjan Hiranandani is to develop the space below the 1.5-km Andheri flyover in Mumbai. On the cards is a 90,000 sq.ft. commercial development comprising retail showrooms and office spaces. The ground plus one structure beneath the flyover can accommodate a 500 unit car-park.

The commercial space is to be designed by renowned architect Hafeez Contractor.

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September 22, 2006

Subhiksha discount stores enter the Gujarat market | INRnews

Ahmedabad, September 22, 2006 : India’s largest discount major has formally entered the Gujarat retail market with its plans to set up 80 stores in the state. Under the expansion plan the Chennai based company will open 80 stores in Gujarat in six months at a cost of Rs. 40 crore.

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Boom in Indian Real Estate likely to continue - Ernst & Young report

Mumbai: 22nd September, 2006: On the eve of its annual real estate summit, 2006, Federation of Indian Chambers of Commerce and Industry (Ficci) commissioned Ernst & Young, a multinational consultancy, to prepare a report on the opportunities before the Indian real estate sector. According to this just-published report titled ‘Indian real estate: opportunities and returns’, the boom in real estate industry is likely to continue.

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September 15, 2006

Kolkata - Skyhigh rentals on Park Street force retailers to move east

Although Kolkata is a large, sprawling city, the chosen area for high-end retailers and trend-conscious consumers is Park Street. As long as shoppers flock to this grand old road, retailers will pay top dollar for space. With the western end of Park Street reaching high rental levels (Rs.225 per sq.ft for ground floor space), the focus of development has now shifted to the eastern end of the popular stretch.

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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

Vijayawada to get multiplex retail and entertainment center

The Vijayawada Municipal Corporation has proposed a multiplex on two acres of land near the Vidyadharapuram bypass road.

The project is aimed as a retail, hospitality and entertainment center to be executed on a public-private partnership basis. The corporation hopes to get 25% funding from the Centre for the Rs.40 crore project.

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September 07, 2006

Kalani Group to set up malls in Gujarat and Madhya Pradesh

The Kalani Group is to set up a shopping mall & multiplex on 3.5 lakh sq.ft. of land in Vadodara as part of it's overall retail development plans. The retail development is coming up near the Sayaji Rao University at a cost of Rs. 58 crore.

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September 06, 2006

Prestige Group to expand development of retail malls in South India

The Prestige Group, a Bangalore based real estate developer, is to develop over 7 malls at an investment of Rs. 300 crore each. Buoyed by the success of its Forum mall in Bangalore, the company plans to invest over Rs.2,500 crore for mall development in South India alone.

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September 04, 2006

Velachery to become hot mall spot in Chennai

A 2 million sq.ft. mall is on the anvil in Velachery, on the outskirts of Chennai city. A 16+ acre plot has been purchased by Kshitij Venture Capital, a retail real estate venture fund promoted by the Pantaloon group with equal joint venture partnership by Atul Ruia of Mumbai and Sharyans Resources of Chennai.

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Classic Diamonds announces the launch of its Retail Store in Delhi

Company plans to open chain of retail stores in other metros in India

Classic Diamonds India Ltd has announced the soft launch of the company's Retail Store in Delhi, after receiving a overwhelming response for its store, the Gold Souk, in Gurgaon. It is opening its next retail store in Ludhiana soon and is also evaluating the launch of further retail stores across metros in India. With this initiative, the Company aims to cater to the needs of consumers of diamond studded jewellery, primarily focusing in the north of India.

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August 31, 2006

Chennai's Old Mahabalipuram Road attracts retail development

Malls with retail stores, hyper markets, food courts, multiplexes and other entertainment enclaves will dot Chennai's IT corridor within the next two years. While the IT firms that have sprouted along this route welcome the new inhabitants, investors can rejoice in the inevitable rise in land prices on the Old Mahabalipuram Road (OMR).

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August 29, 2006

Prime Property acquires real estate in Mumbai and Pune

Prime Property Development Corp has purchased real estate in Mumbai and Pune that it hopes to develop commercially.

The Mumbai property on SV Road, Goregaon, can be developed into 35,000 sq.ft. of retail space, while the Pune property in Pimpri-Chinchwad can be developed into a retail and hospitality destination covering more than 400,000 sq.ft. of space.

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August 24, 2006

Reliance Retail would like to lease Maratha co-operative stores

In a smart move, Reliance Retail has taken over local co-operative stores to make inroads into the retail sector. Not only do they usually have several branches located in prime neighbourhoods, they are dirt cheap in terms of land rentals. Moreover, the co-operative stores come with a dedicated, if not captive, clientele. Trust Reliance to make a big splash at cheap cost.

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August 15, 2006

Kolkata retail space to host Marks & Spencers

Retailing icon Marks & Spencer has a new address - Avani Heights, next to Exide House in Kolkata. The 30,000 sq.ft. store on three levels will be the 10th Marks & Spencer outlet in the country.
 
Marks & Spencer operates in India through its franchise partner Planet Sports.

The Kolkata market has seen investment by many UK companies including HSBC, Newby Teas and Vesuvius India.

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August 13, 2006

Boom times for Retail Real Estate in India

Retailing in India continues to be a booming industry. The Indian retail sector has seen strong interest from global players as well as Indian companies particularly since the government opened the doors for FDI in single-brand retail in Feb this year. According to this year’s Global Retail Development Index by A.T. Kearney, India is positioned globally as the leading destination for retail investment.

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August 06, 2006

Landmark to occupy more retail space, make bigger investments

The Landmark Group that runs stores such as Lifestyle, Max and Home Centre in India plans to invest Rs.450 crore in the country to expand its retail operations.

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August 01, 2006

Simon Property looks at Real Estate in India

The US-based Simon Property Group is close to finalising a joint venture in India according to David Simon, its CEO, who made his remarks in a conference call with analysts. Simon Property is the largest owner of malls and outlet centers in the USA.

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July 31, 2006

House of Pearl Fashions to set up retail outlets in India

The Rs. 800 crore House of Pearl Fashions group is evaluating entry into the retail market with a plan to establish 300-400 retail stores in the next five years at a cost of Rs. 400-500 crore. The stores are expected to be a minimum of 3,000 sq ft.

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July 30, 2006

Rs 175 crore mall to be set up in Kochi

The Peevees Group is to set up a new mall - The Summit - in Kochi at a cost of Rs 175 crore. Located on MG Road, the mall will house all major retail brands, a Gold Souk, cineplex and multiple dining and entertainment facilities. The mall will be a 420,000 sq ft development. An exclusive business hotel is also planned over 80,000 sq ft between the 6th and 12th floors.

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July 28, 2006

Archies to add 130 stores in India

Archies Ltd, the greeting cards company plans to expand its retain network from 73 stores to 200 stores within two years according to news reports. This will entail an investment of almost Rs. 50 crore.The company already has over 400 franchisees in India but is seeking to expand its own company owned stores in 18 cities.

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July 21, 2006

Wal-Mart mulls entry plans in India

Global retail giant Wal-Mart is said to be in discussions with Indian real estate major DLF UNiversal for a franchise arrangement that could lead to a Wal-Mart presence in over 100 malls that DLF is building in 60 cities across India. According to various media reports the arrangement would allow DLF to own the stores and Wal-Mart to fulfill the backend operations.

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July 11, 2006

Godrej Properties plans Rs 300-400 cr investment in West Bengal

The Godrej group has lined up real estate projects worth Rs 300 to Rs 400 crore in and around Kolkata. This includes two IT parks coprising 3.5 million sq.ft and a retail mall of 400,000 sq. ft.

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Indian Retail sector to grow to USD 280 bn by 2010-11

The booming retail sector in India is expected to grow at 7 per cent to 280 billion dollars by 2010-11 from the present 200 billion dollars, a report by Assocham said. The report on the future of the retail industry in India estimates the size of organized retail to grow from the current $6 billion to $17 billion in the next 4-5 years.

The retail boom is likely to have a significant impact on the commercial real estate sector as the large metros will have sizeable retail construction projects underway. The development of shopping malls in cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore and Kanpur would be based on build, operate, lease and sell basis, which would lead to a close link between real estate developers, state governments, financial institutions and retail industry, the report said.

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May 30, 2006

Is Reliance eyeing a land deal in Powai?

After it's recent purchase of 7.5 hectares of land in the Bandra-Kurla complex, Reliance appears ready for another large land deal. Speculation is rife that Reliance Industries is looking to acquire a 61 acre plot in Powai from Larsen & Toubro for upwards of Rs. 1,000 crore. In news reports, L&T has denied that any deal is happening.

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May 21, 2006

The sheiks are coming: Indian real estate on a magic carpet

Chennai, May 19 - Middle East real estate giants are closely examining Indian shores. Hardly surprising,given the close business and people links between India and the desert kingdoms. For decades, Indian labour, both skilled and unskilled, worked the mid-east route. Now, Arab dollars are coming this way - in billions.

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May 18, 2006

Investment of $267mn in real estate for Gold Souks in India

Aerens Goldsouk International is to develop The company plans to develop 100 gold supermarkets in 100 cities across the country in the next 8-9 years. Land for 15 souks would be acquired by end of 2006 according to Gaurav Gupta, vice chairman and managing director of the company. This expansion would make the company a leader in development of specialised malls particularly focused on the jewellery industry.

The company had earlier launched Gold Souk, a jewellery mall in Gurgaon, New Delhi. Spread over 180,000 sq. ft. the Souk provides retail space to leading jewellers and also a complete shopping experience for consumers. After Gurgaon, new Souks are set to open in Kochi, Amritsar and Chennai in 2007.

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