INRnews - Indian Real Estate News

Accor to develop hotels in India | INRnews

Thu, 30 Nov 2006 22:42:02 +0800

New Delhi, November 30, 2006 : As part of its global development strategy aiming at opening 200,000 new hotel rooms by 2010, of which 60% in emerging markets, Accor has signed today significant partnerships that trigger a major expansion in India. This expansion plan covers the full spectrum of the hotel market in India, including budget Formule 1 hotels, economy Ibis hotels, mid-market Novotel hotels and upper-upscale Sofitel properties.

Old Mutual in large retail leasing deals in India | INRnews

Sun, 19 Nov 2006 21:30:16 +0800

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.

Mumbai commercial real estate see strong appreciation | INRnews

Fri, 17 Nov 2006 21:46:19 +0800

Mumbai, November 17, 2006 : Mumbai's commercial real estate market has appreciated considerably over the last one year. Rents in South Mumbai (CBD) for Prime and Grade A office space are up by 73% while capital values are up by 51% vs. 12 months ago. In the suburban Bandra Kurla complex, rentals are up by 132% and capital values are up by 115% over a year.

Mumbai real estate market at a high | INRnews

Fri, 17 Nov 2006 12:14:55 +0800

Mumbai, November 17, 2006 : With demand clearly in excess of supply, the Mumbai real estate market has reached unprecedented heights, exceeding the 1995 peak levels. Capital Values of good quality large apartments, in well-maintained older buildings and new projects, in South and South Central Mumbai, have crossed the Rs.30,000/sq.ft. and Rs.40,000/sq.ft. mark, respectively. The demand for good quality accommodation in North Mumbai also continues to remain robust owing to the extensive growth of the commercial real estate in and around Bandra Kurla, Andheri (E), Andheri (W), Malad and Powai. Capital values are up between 30% to 40% over a year ago.

India's retail revolution begins | INRnews

Wed, 15 Nov 2006 17:32:43 +0800

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!

Maharashtra cabinet approves draft housing policy | INRnews

Fri, 03 Nov 2006 17:48:25 +0800

Mumbai, November 03, 2006 : Maharashtra Chief Minister Vilasrao Deshmukh announced on Tuesday a draft housing policy for the state aimed at delivering low cost housing, decongesting Mumbai, and implementing consumer protection measures. Feedback will be received from the public for the next sixty days and the government plans to implement the final policy in January next year.

Presidential apartments - the new symbol of prestige in India | INRnews

Thu, 19 Oct 2006 13:30:44 +0800

Bangalore, October 19, 2006 : A new phrase - "Presidential Apartment" - is fast entering the lexicon of real estate developers and the newly rich in India. Presidential Apartments are super-premium apartments in exclusive neighbourhoods, with oodles of space, the most luxurious of interiors, named architects, private lifts, landscaped gardens, and every facility that could be required such as a gym, swimming pool, security and CCTV, children's play areas.

Ahmedabad - Mumbai in five hours by road | INRNews

Sun, 15 Oct 2006 20:58:00 +0800

Ahmedabad, October 15, 2006 : If everything goes well with the Union Government plan, within three years one will be able to reach Mumbai from Ahmedabad within five hours by road. This was indicated by Minister of State for Shipping Road Transport and Highways, K.H. Muniyappa.

Trinity Capital PLC to invest £11.6 million in Mumbai residential project with Lokhandwala

Thu, 12 Oct 2006 19:24:02 +0800

October 12, 2006 : Trinity Capital PLC announced that the asset manager of its Fund, Trikona Capital (‘Trikona’), has entered into a partnership with Lokhandwala Builders, a Mumbai based real estate developer, to undertake a residential project in Mumbai. Trinity has acquired 49% of the equity in this venture for a consideration of £11.6 million.

Mahindra Gesco closes US$ 105 million QIP issuance

Fri, 06 Oct 2006 23:24:55 +0800

Mumbai, October 6, 2006 : Mahindra Gesco Developers Limited (MGDL), one of the leading real estate and infrastructure developers in India has successfully closed its US $ 105 million Qualified Institutional Placement ("QIP").

New hotels planned for Mumbai

Fri, 06 Oct 2006 08:23:19 +0800

Mumbai, October 6, 2006: A number of new hotels are planned for Mumbai to cater to the increasing demand from both domestic and international visitors to the country's commercial capital.

Office rentals in Bandra Kurla complex hit a high

Thu, 05 Oct 2006 08:21:30 +0800

Mumbai, October 5, 2006: So high is the demand for office space in the Bandra Kurla complex that new tenants are paying almost 100% more in rentals now than the prices prevailing a year ago. Space in Bandra Kurla rents for Rs.250 per sq.ft and this could touch as high as Rs.300 per sq.ft soon.

Mumbai residential real estate prices stabilise in the second quarter

Tue, 03 Oct 2006 20:23:05 +0800

Mumbai, October 3, 2006: According to real estate services firm Colliers International, the premium residential market in Mumbai appears to have stabilised in the second quarter with pricing remaining steady without an upward trend.

Bombay Dyeing to develop prime real estate in Dadar, Mumbai

Sat, 30 Sep 2006 08:20:20 +0800

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.

Nirlon to develop real estate assets worth Rs. 1,000 crore in Mumbai

Mon, 25 Sep 2006 20:18:10 +0800

Mumbai, September 25, 2006: Multi-product company Nirlon is making a real estate play that has driven up its share prices by over 40% in just a week. The company plans to develop land in Goregaon near Mumbai occupied by its tyre cord plant. The developed asset is likely to be valued at Rs. 1,000 crores.