Main || India

April 06, 2008

Trikona TC extends its partnership with German fund manager | INRnews

London, UK, April 01, 2008 - Trikona Trinity Capital PLC (AIM: TRC), a fund created for investing in Indian real estate and infrastructure, and managed by Trikona Capital, extends its strategic partnership with SachsenFonds Holdings GmbH ("SF"), a leading German fund manager with €4.7 billion of assets under management, by signing a Memorandum of Understanding (MoU) with a transaction value worth approximately £80 million. Under the terms of the MoU, SF will acquire certain assets from Trikona TC and co-invest in new projects.

| Comments (0)

April 05, 2008

Pantaloon Retail Launches Big Bazaar in Ranchi | INRnews

Ranchi, India, April 05, 2008 - Pantaloon Retail (India) Limited, part of the Future Group, today announced the launch of its flagship hypermarket retail store – Big Bazaar – in Ranchi city. This is the second Big Bazaar in Jharkhand region and the first biggest store with 80,000 sq.ft area in East Zone for the company.

| Comments (0)

April 04, 2008

BuildArch 2008 and Build Up 2008 Announced in Mumbai | INRnews

Bangalore, India, April 04, 2008 - Bangalore International Exhibition Centre (BIEC), The Confederation of Indian Industry (CII) and Deutsche Messe, Hannover, Germany (DMAG) have announced the institution of BuildArch 2008 and Build Up 2008, India's Comprehensive International Exhibition and Conference scheduled to be held in October at the Bangalore International Exhibition Center (BIEC), Bangalore. The event to be held from 21st - 24th October 2008 has been envisaged as India's most Comprehensive International Exhibition and Conference on Architecture, Building and Construction, Property Investments and Development Opportunities on a global scale. This is the first time that these three organisations have joined hands to conduct an exhibition.

| Comments (0)

Parsvnath Developers appoints Sunil Malhotra as CFO | INRnews

New Delhi, India, April 04, 2008 - Parsvnath Developers Limited, India’s leading real estate developer with diversified portfolio, has announced the appointment of Mr. Sunil Malhotra as CFO with effect from March 28, 2008 in place of Mr. Ravi S. Pani, who has since resigned.

| Comments (0)

Indiabulls Power Generation awarded LoI for Chhatisgarh power project | INRnews

Mumbai, India, April 04, 2008 - Indiabulls Real Estate Ltd has announced that Indiabulls Power Generation Ltd (IPGL) has been awarded the Letter of Intent for Bhaiyathan Thermal Power Project (Bhaiyathan TPP) in Chhattisgarh state by Chhattisgarh State Electricity Board (CSEB).

| Comments (0)

April 03, 2008

REITs To Grow Globally At US$ 1400 Bln.: ASSOCHAM-CRISIL | INRnews

Mumbai, India, April 03, 2008 - The Real Estate Investment Trusts (REITs) would have potential to hold at least 5% share of the total global real estate market by 2010, the size of which would turn to US$ 1400 billion in next 3 years, according to joint Paper prepared by the ASSOCHAM and CRISIL.

| Comments (0)

Builders protest against steep hike in steel prices | INRnews

Mumbai, India, April 03, 2008 - 'The Builders’ Association of India (BAI), an All India Association of Engineering Construction Contractors, today strongly protested against the  unprecedented rise of over 32 per cent in price of steel  in the last three months and expressed doubts about completion of time-bound projects connected with Commonwealth Games-2010 and other projects.

| Comments (0)

April 02, 2008

TCS launches development of new 20,000-seat campus in Pune | INRnews

Pune, India, April 02, 2008 - 'Tata Consultancy Services, (TCS) (BSE: TCS.BO, NSE: TCS.NS), a leading IT services, business solutions and outsourcing organization, today announced the commencement of construction at its largest development centre, TCS Sahyadri Park located in Hinjewadi, Pune, Maharashtra.

| Comments (0)

Real Estate TV signs agreements with Cable Networks | INRnews

New Delhi, India, April 02, 2008 - 'Real Estate Television, India’s first 24x7 channel dedicated to Real Estate and Infrastructure, is now available in all metros and major cities across the country, it was announced here today.

| Comments (0)

Real Estate TV signs agreements with Cable Networks | INRnews

New Delhi, India, April 02, 2008 - 'Real Estate Television, India’s first 24x7 channel dedicated to Real Estate and Infrastructure, is now available in all metros and major cities across the country, it was announced here today.

| Comments (0)

Raheja Developers performs Bhoomi Pujan for expo mall in Panipat, Haryana | INRnews

Panipat, India, April 02, 2008 - Raheja  Developers has announced that the comapany has performed BHOOMI PUJAN of Block A of “RAHEJA EXPO-MALL” at Panipat on April 02, 2008. This marks the beginning of construction of fully equipped commercial complex that integrates world-class infrastructure with the peaceful ambience of a small mordern town.

| Comments (0)

Nagarjuna Construction - NCC Infra & Maytas Infra to develop Gulbarga and Shimoga airports | INRnews

Bangalore, India, April 02, 2008 - Nagarjuna Construction Company Ltd has announced that NCC Infrastructure Holdings Ltd and Maytas Infra Ltd, Hyderabad based construction and infrastructure development Companies on April 02, 2008 announced that they have signed a Project Development Agreement (PDA) with the Infrastructure Development Department (IDD), Government of Karnataka to develop and operate airports proposed at Gulbarga and Shimoga on a BOT basis.

| Comments (0)

Era Infra secures construction orders | INRnews

Mumbai, India, April 02, 2008 - Era Infra Engineering Ltd has announced that the Company has secured an order valued at approximately Rs 4 crore from Jeet builders Pvt Ltd for supply of Ready Mix Concrete (RMC) for the construction of multi storied residential complex at Greater Noida.

| Comments (0)

Era Infra secures construction orders | INRnews

Mumbai, India, April 02, 2008 - Era Infra Engineering Ltd has announced that the Company has secured an order valued at approximately Rs 4 crore from Jeet builders Pvt Ltd for supply of Ready Mix Concrete (RMC) for the construction of multi storied residential complex at Greater Noida.

| Comments (0)

Era Infra secures construction orders | INRnews

Mumbai, India, April 02, 2008 - Era Infra Engineering Ltd has announced that the Company has secured an order valued at approximately Rs 4 crore from Jeet builders Pvt Ltd for supply of Ready Mix Concrete (RMC) for the construction of multi storied residential complex at Greater Noida.

| Comments (0)

April 01, 2008

Emaar MGF ties-up with Marriott International | INRnews

New Delhi, India, April 01, 2008 - Emaar MGF, one of India’s leading real estate developers, has partnered with Marriott International Inc., a leading international hospitality company, to design, construct and equip luxury-branded JW Marriott Hotels in New Delhi, Hyderabad, Kolkata and a ‘Courtyard by Marriott’ hotel in Amritsar, entailing total investments of over USD 400 million. The hotel projects are likely to be completed by 2010-end.

| Comments (0)

Consumers rate Raheja Builders as pioneers in real estate | INRnews

New Delhi, India, April 01, 2008 - '360 Degrees presents 2nd Annual Living Awards 2007', the biggest ever consumer rated awards in residential real estate, Raheja Builders has been rated as the Most Preferred Brand in Residential Real Estate for providing the unique experience of an ultimate home in the western India. The awards were presented by Hon'ble Member of Parliament, Mr. Rajiv Shukla, at Tivoli Garden, New Delhi. The awards were based on the largest brand rating survey conducted by AC Nielsen ORG MARG in residential real estate and other allied house related products/services targeting 5,000 respondents in India.

| Comments (0)

@home opens in Coimbatore | INRnews

Coimbatore, India, April 01, 2008 - The beautiful city of Coimbatore has off late been buzzing with multiplexes and malls galore. With these changing trends, aspirations & desires, ‘@home’ – the country’s premier and pioneering mega home store chain from the Nilkamal Group – has opened in Coimbatore and to a great response.

| Comments (0)

Godrej Agrovet, Future Ventures form JV for rural retailing | INRnews

Mumbai, India, April 01, 2008 - Godrej Agrovet Limited and Future Ventures India Limited announced today that they have entered into a joint venture agreement for rural retailing. Future Ventures India Limited, a Future Group company, will own a 70% stake in Aadhaar Retailing Limited, with the rest owned by Godrej Agrovet Limited.

| Comments (0)

March 31, 2008

New brand identity of Trident Hotels announced | INRnews

Mumbai, India, March 31, 2008 - The new brand identity of Trident Hotels was launched today.  ‘Trident Hilton’ hotels located in Gurgaon (Delhi National Capital Region), Agra, Jaipur, Udaipur, Cochin, Bhubaneswar and Chennai have been rebranded ‘Trident’.  ‘Hilton Towers’ in Mumbai is now ‘Trident, Nariman Point, Mumbai’.

| Comments (0)

New brand identity of Trident Hotels announced | INRnews

Mumbai, India, March 31, 2008 - The new brand identity of Trident Hotels was launched today.  ‘Trident Hilton’ hotels located in Gurgaon (Delhi National Capital Region), Agra, Jaipur, Udaipur, Cochin, Bhubaneswar and Chennai have been rebranded ‘Trident’.  ‘Hilton Towers’ in Mumbai is now ‘Trident, Nariman Point, Mumbai’.

| Comments (0)

New brand identity of Trident Hotels announced | INRnews

Mumbai, India, March 31, 2008 - The new brand identity of Trident Hotels was launched today.  ‘Trident Hilton’ hotels located in Gurgaon (Delhi National Capital Region), Agra, Jaipur, Udaipur, Cochin, Bhubaneswar and Chennai have been rebranded ‘Trident’.  ‘Hilton Towers’ in Mumbai is now ‘Trident, Nariman Point, Mumbai’.

| Comments (0)

IFC establishes Infrastructure Advisory Facility | INRnewsIFC establishes Infrastructure Advisory Facility | INRnews

Mumbai, India, March 31, 2008 - IFC, a member of the World Bank Group, together with multilateral and bilateral donors, has established an infrastructure advisory facility to help the South Asia region develop bankable infrastructure projects, largely through public-private partnerships. This reaffirms IFC's strategic focus on infrastructure, one of the sectors where IFC is needed most.

| Comments (0)

M&M signs MoU with Govt of Maharashtra to invest Rs 1500cr in greenfield project | INRnews

Mumbai, India, March 31, 2008 - Mahindra & Mahindra, the leading Indian multinational, reputed for its association with the Indian automotive industry for 62 years, today signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to further boost their investment at its upcoming Chakan Greenfield project.

| Comments (0)

Tata Motors signs MoU with Govt of Maharashtra for Pune expansion | INRnews

Pune, India, March 31, 2008 - Tata Motors and the Government of Maharashtra today announced the signing of a Memorandum of Understanding (MoU) which will facilitate the proposed expansion of manufacturing plants and setting up vehicle testing facilities in Pune.

| Comments (0)

Progress on leasing and sales shows robust demand for Ishaan's real estate portfolio | INRnews

Mumbai, India, March 31, 2008 - Ishaan Real Estate Plc ("Ishaan") is pleased to announce the leasing and pre-letting of a further 577,000 sq. ft. of office and retail space, increasing the total area of leased and pre-let space in its commercial and retail development projects to 2.4 million sq. ft. Tenants have also exercised options for 232,000 sq. ft. of the commercial space in its Mindspace developments in Navi Mumbai and Hyderabad.

| Comments (0)

GMR Infrastructure - DIAL ties up with Indraprastha Apollo Hospital for medical facilities at Delhi Airport | INRnews

New Delhi, India, March 31, 2008 - GMR Infrastructure Ltd has informed BSE that Delhi International Airport Pvt Ltd (DIAL), subsidiary of the Company has selected Indraprastha Apollo Hospital to provide medical facilities in line with its commitment to providing superior medical facilities to air passengers and employees at Indira Gandhi International (I.G.I) Airport.

| Comments (0)

Construction starts on Eredene Capital’s low-income mass housing project near Mumbai | INRnews

Mumbai, India, March 31, 2008 – Eredene Capital PLC (AIM: ERE), the AIM quoted investor in Indian infrastructure and real estate, today announces that construction has begun on its joint venture low-income housing project near Mumbai following a ground breaking ceremony at the first of its greenfield sites. This is the first phase in the planned construction of approximately 185,000 affordable homes within commuting distance of the city over the next 10 years.

| Comments (0)

March 28, 2008

Kalpataru Const launches residential project in Aundh Annexe, Pune | INRnews

Pune, India, March 28, 2008 - Kalpataru Constructions announces the launch of Kalpataru Estate, a premium and novel project for the city of Pune in Pimple Gurav, Aundh Annexe on 27th March 2008. As an extension to their several landmark constructions in Mumbai and Pune, now Kalpataru Estate will be yet another well designed and modern residential project – a haven of luxurious space and sunshine, surrounded by true natural beauty, accompanied with all state-of-the-art amenities.

| Comments (0)

March 27, 2008

Additional FSI for hospitals will bring down healthcare cost in Tamil Nadu | INRnews

Chennai, India, March 27, 2008 -  "The Government of Tamil Nadu should hike the Floor Space Index (FSI) for hospitals and healthcare institutions from the current 1.5 to 5 to bring down the rising healthcare cost, increase number of beds and healthcare talent pool of the State," urged Dr Prathap C Reddy, Chairman, CII National Committee on Healthcare & Chairman, Apollo Hospitals Group. "The relaxation in FSI will allow hospitals and institutions create more infrastructure in the same premises. They do not have to invest as much as 40-50% of the project cost in acquiring new lands. Instead they can invest directly in healthcare equipments or human resources and reduce healthcare cost," he pointed out.

| Comments (0)

Allahabad Bank cuts lending rate by 25 bps | INRnews

Mumbai, India, March 27, 2008 - Allahabad Bank, one of the leading nationalized banks of the country, has decided to cut its Benchmark Prime Lending Rate (BPLR) by 25 basis points (0.25%) from the present rate of 13.25% to 13.00% with effect from 1st April, 2008. The reduction in BPLR has been announced having regard to present market scenario and the need to provide credit to productive sectors at affordable rate.

| Comments (0)

March 25, 2008

Subhiksha Mobile crosses 50-store mark in Hyderabad | INRnews

Hyderabad, India, March 25, 2008 - Subhiksha, India's largest mobile retailer has reached the coveted 50th-store mark in Hyderabad. The 50th store in Hyderabad was opened in the up-market area of Vikrampuri.  Customers in Hyderabad no longer have to travel long distances to purchase their favourite mobile, with 50 stores and growing in numbers by the day -there is a Subhiksha mobile store in every locality in Hyderabad.

| Comments (0)

BT sets up Global Operations Centre in Gurgaon, India | INRNews

Gurgaon, India, March 25, 2008 - BT today announced the opening of its Global Operations Centre at Gurgaon, India, in presence of Sir Mike Rake, Chairman, BT Group and Ben Verwaayen, CEO - BT Group among other BT executives.

| Comments (0)

Satra Properties acquires retail property in Jodhpur | INRnews

Jodhpur, India, March 25, 2008 - Satra Properties India Ltd has announced that the Company has signed DEED OF ASSIGNMENT for prime Retail property in Jodhpur Rajasthan.

| Comments (0)

March 24, 2008

Omaxe starts construction of Omaxe Royal Residency in Ludhiana | INRnews

Ludhiana, India, March 24, 2008 - Omaxe, India’s leading real estate developers, today announced the start of construction of recently launched and immensely successful ‘Royal Residency with Spa Village’ in Ludhiana. Spread over meticulously landscaped area of 36 acres, Omaxe Royal Residency is first of its kind luxury apartments and penthouses with Spa Village on the most preferred & up-market destination of Pakhowal Road in Ludhiana. It is a luxurious self contained complex which provides an ideal environment to live, work, play. Set apart for the elite, Royal Residency has everything that spells class, comfort and convenience.

| Comments (0)

March 23, 2008

Corporate majors optimistic on Retail , line up Investments over Rs. 1 lakh crore | INRnews

New Delhi, India, March 23, 2008 - As investment rate of 36.3 per cent is driving the Indian growth story, the corporate retailers across the country have announced investments plans amounting to Rs. 1,31,804 crore in past 6 months, for expanding their network of stores by the next four-five years to cash in the retail boom, according to the ASSOCHAM Investment Meter (AIM).

| Comments (0)

GMR Infrastructure - GHIAL gets clearance to commence operations at Hyderabad Intl Airport | INRnews

Hyderabad, India, March 23, 2008 - GMR Infrastructure Ltd has informed BSE that GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary Company had received notification from Ministry of Civil Aviation (MoCA) to commence commercial operations at Rajiv Gandhi International Airport, Shamshabad, Hyderabad from 0001 hours on March 23, 2008.

| Comments (0)

March 19, 2008

SRUIL to construct LEED Platinum rated residential tower in Worli, Mumbai | INRnews

Mumbai, India, March 19, 2008 - IGBC, (Indian Green Building Council); which is part of CII (Confederation of Indian Industry); announced today that Shree Ram Urban Infrastructure Limited (SRUIL) is building India's first ever Green residential building at Worli, Mumbai. Entitled 'Palais Royale', this project will be India's first residential building aspiring to achieve the prestigious LEED Platinum rating. One of IGBC's main objective is to ensure that the real estate industry in India migrates to creating benchmarks in Green Buildings across all realty formats.

| Comments (0)

March 14, 2008

Kerala CM to inaugurate L&T Tech Park at Kochi | INRnews

Kochi, India, March 14, 2008 - The Hon’ble Chief Minister of Kerala, Shri. V.S. Achuthanandan, will inaugurate ‘Tejomaya’ – phase I project of L&T Tech Park and will also launch the work for its proposed phase II project – ‘Signature Tower’.   Both the projects are located in the Infopark campus at Kakkanad, Kochi.

| Comments (0)

KSL & Industries to develop 15 properties across India | INRnews

Mumbai, India, March 14, 2008 - KSL and Industries Ltd., Mumbai-based leading textile and yarn manufacturer has embarked on a major expansion to develop real estate on a pan-India basis.

| Comments (0)

Now 24x7 telemedicine services for residents of select Mantri Developers homes | INRnews

New Delhi, India, March 14, 2008 - For the first time in India, Mantri Developers Pvt. Ltd. has tied up with Apollo Hospitals Ltd. to provide quality health care services 24 x 7 through Telemedicine to residents of select Mantri homes, using contemporary state of the art technology. Residents will now be able to harness the power of interconnectivity to obtain instant diagnosis from an expert panel of doctors associated with Apollo Hospitals. This historic service will be first introduced in Mantri Espana, a Super Luxury residential complex located at Sarjapur, Outer Ring Road, Bangalore.

| Comments (0)

March 12, 2008

Ansal API- Giving Kurukshetra a modern makeover | INRnews

New Delhi, India, March 12, 2008 - Ansal API in its endeavour to provide the best real estate solutions and redefining lifestyle standards in Kurukshetra has introduced one of its kind, truly luxurious and epic township- “Sushant City- Kurukshetra”. Located strategically on the NH-1, the township is spread over an area of 200 acres with, malls, local shopping centres, schools, hospitals, jogging tracks, parks, club, community centre etc.

| Comments (0)

March 11, 2008

CEAT sells 7 acres land in Bhandup for Rs 130 crore | INRnews

Mumbai, India, March 11, 2008 - CEAT Ltd, the flagship company of the 13, 500 crore RPG Group and one of India’s leading tyre manufacturers has today signed an agreement with M/s. Ashford InfoTech Limited for development of a vacant portion of about 7 acres of land located at Village Road in Bhandup, Mumbai.

| Comments (0)

Hiranandani Group announce Multiservices SEZ in Hyderabad | INRnews

Hyderabad, India, March 11, 2008 - Mumbai’s leading real-estate developers Hiranandani Group of companies have announced their plan to develop first of its kind 250 acre integrated ‘Hiranandani Upscale, Multiservices SEZ at Lahari, Hyderabad. The SEZ would be developed in association with Hyderabad based Lahari Infrastructure Ltd. Based on walk to work concept the SEZ would be integrated with vast landscaping and residential buildings apart from Schools, Hospitals and other recreational facilities. The project would require an investment of Rs 12,000 crores and would be completed in phases over a period of seven years.

| Comments (0)

March 10, 2008

Omaxe gets NOC from Punjab Pollution Control Board | INRnews

New Delhi, India, March 10, 2008 - Omaxe, one of the India’s leading real estate companies has been granted NOC from Punjab Pollution Control Board for ‘Omaxe Greens’, - an island of serenity & peace offering low rise group housing towers over an area of  16.5 acres in Derabassi, Punjab.

| Comments (0)

Omaxe gets NOC from Punjab Pollution Control Board | INRnews

New Delhi, India, March 10, 2008 - Omaxe, one of the India’s leading real estate companies has been granted NOC from Punjab Pollution Control Board for ‘Omaxe Greens’, - an island of serenity & peace offering low rise group housing towers over an area of  16.5 acres in Derabassi, Punjab.

| Comments (0)

Lanco Hills gives order for construction to Sembawang Infra | INRnews

Hyderabad, India, March 10, 2008 - Sembawang Infrastructure India Pvt Ltd has bagged the order for construction of an IT Tower in the Lanco Hills Technology Park Pvt Ltd’s IT Park in the SEZ area. To this effect Lanco Hills Technology Park Pvt Ltd and Sembawang Infrastructure India Pvt Ltd today signed an agreement for execution of the structural work of Tower 9 for their prestigious SEZ IT Park.

| Comments (0)

C & C Constructions awarded Himachal Pradesh infrastructure contracts | INRnews

Mumbai, India, March 10, 2008 - C & C Constructions Ltd has announced that the Company has been awarded two contracts amounting to Rs 202 crores from the Himachal Pradesh Road and Infrastructure Development Corporation Ltd.

| Comments (0)

March 08, 2008

Bengaluru Int'l Airport conducts final flight trials | INRnews

Bangalore, India, March 08, 2008 - The flight trials conducted today at the Bengaluru International Airport in a near live environment heralded its operational readiness.  Kingfisher Airlines, Air Deccan and the Indian Air force, whose aircrafts landed and took off at the Bengaluru International Airport, participated in the trials to ensure a smooth airport opening.

| Comments (0)

Bengaluru Int'l Airport conducts final flight trials | INRnews

Bangalore, India, March 08, 2008 - The flight trials conducted today at the Bengaluru International Airport in a near live environment heralded its operational readiness.  Kingfisher Airlines, Air Deccan and the Indian Air force, whose aircrafts landed and took off at the Bengaluru International Airport, participated in the trials to ensure a smooth airport opening.

| Comments (0)

Pantaloons store opens in Guwahati | INRnews

Guwahati, India, March 8, 2008 - Pantaloons, India’s leading fashion retailer, today, inaugurated its first store in Guwahati, located at DT Towers, GS Road, Near Downtown Hospital. The new store is the thirty eighth Pantaloons store in India and is spread across 33,500 sq.ft. area, over three levels.

| Comments (0)

Pantaloons store opens in Guwahati | INRnews

Guwahati, India, March 8, 2008 - Pantaloons, India’s leading fashion retailer, today, inaugurated its first store in Guwahati, located at DT Towers, GS Road, Near Downtown Hospital. The new store is the thirty eighth Pantaloons store in India and is spread across 33,500 sq.ft. area, over three levels.

| Comments (0)

March 07, 2008

ETAM opens an exclusive store at Breach Candy | INRnews

Mumbai, March 7, 2008: Etam, the leading French lingerie brand, a part of the Future Group, today opened its exclusive store in Mumbai at Breach Candy in South Mumbai. On the occasion, super model Viveka Babajee showcased ‘Etam Spring Summer 2008 collection’, comprising of lingerie, swim wear and night wear. She also interacted with some customers and shared with them some lingerie style tips. An exclusive wine and cheese event was also held at the store in the evening.

| Comments (0)

February 28, 2008

LIC Housing Finance launches reverse mortgage for senior citizens | INRnews

Mumbai, India, February 28, 2008 - LIC Housing Finance Ltd (LICHFL), a leading player in the Indian housing finance sector, rolls out reverse mortgage loans for senior citizens above 60 years of age. The loan will be given on single or on joint basis with the spouse, if the spouse is over 60 years.

| Comments (0)

Parsvnath Developers commences construction of group housing project at Sonepat | INRnews

New Delhi, India, February 28, 2008 - Parsvnath Developers Ltd on February 28, 2008 has announced the start of construction of 'Parsvnath Preston' a high-end group housing residential project, in Sonepat, Haryana. The expected realization from the project is over Rs 500 crore in next 3 years including this financial year. The project is spread over a saleable area of 2.2 million sq. ft.

| Comments (0)

February 25, 2008

Omaxe to develop township in Naya Raipur, Chhatisgarh | INRnews

New Delhi, India, February 25, 2008 - Omaxe Ltd has announced that the Company has emerged as the highest bidder and won the bid from Naya Raipur Development Authority, Chhattisgarh for Development of theme township with 18 Hole Golf Course on over 400 acres (Approx.) at Naya Raipur, Capital City of Chhattisgarh with a project value of Rs 1200 Crores (Approx.), which shall include the development of Residential and Commercial Bldgs, Golf Villas and a Hotel.

| Comments (0)

February 23, 2008

Bank of Baroda slashes BPLR by 50 bps | INRnews

Mumbai, India, February 23, 2008 - In order to stimulate the demand for consumer and investment credit in a slowing economy, the Bank of Baroda has decided to reduce its Benchmark Prime Lending Rate by 50 basis points to 12.75% effective February 27, 2008.

| Comments (0)

February 22, 2008

Bhiwadi industrial cluster attracts 3 brand new project | INRnews

Bhiwadi, India, February 22, 2008 - Smt. Vasundhara Raje, Hon’ble Chief Minister, Government of Rajasthan, today laid the foundation stone for setting up an IT / ITES SEZ by Somani Worsted Limited and manufacturing facilities of Jaquar Limited and Orient Craft Limited in Bhiwadi, Rajasthan. Dr. Digamber Singh, Hon’ble Minister of Industries, Rajasthan, also graced the occasion. The establishment of these projects is in sync with the vision of the recent Resurgent Rajasthan Partnership Summit and will give a boost to the rapid industrialization in the state.

| Comments (0)

February 21, 2008

Parsvnath performs Bhoomipujan of "Parsvnath Mall" at Rohini | INRnews

New Delhi, India, February 21, 2008 - Parsvnath Developers Ltd on February 21, 2008 has announced the beginning of construction of its prestigious Mall at Rohini christened as "Parsvnath Mall". Parsvnath will invest approx. Rs 280 crores in the project. The Company performed the earth-breaking ceremony today.

| Comments (0)

HDIL sells Mumbai property for Rs 900 crore | INRnews

Mumbai, India, February 21, 2008 - Housing Development & Infrastructure Ltd (HDIL) has announced that the Company has entered in to sale of Developmental rights agreement dated February 21, 2008 with respect to its project named Kaledonia situated at sahar Road, Andheri (East) with Mack Star marketing pvt ltd for a consideration of Rs 900 crores (Rupees Nine hundred crores).

| Comments (0)

HDIL sells Mumbai property for Rs 900 crore | INRnews

Mumbai, India, February 21, 2008 - Housing Development & Infrastructure Ltd (HDIL) has announced that the Company has entered in to sale of Developmental rights agreement dated February 21, 2008 with respect to its project named Kaledonia situated at sahar Road, Andheri (East) with Mack Star marketing pvt ltd for a consideration of Rs 900 crores (Rupees Nine hundred crores).

| Comments (0)

February 20, 2008

Parsvnath Developers forms JV with Royal Orchid Hotels Ltd to develop 10 hotels | INRnews

New Delhi, India, February 20, 2008 - Parsvnath Developers Ltd on February 20, 2008 announced a joint venture between its subsidiary, Parsvnath Hotels Ltd (PHL) and Royal Orchid Hotels Ltd (ROHL), one of India's fastest growing hospitality Companies, to develop and manage hotels across country.

| Comments (0)

February 19, 2008

DLF going WI-FI way across India | INRnews

New Delhi, India, February 19, 2008 -DLF Limited, India's largest real estate developer is implementing Wi-Fi across DLF buildings all over India and is the first real estate company to adopt this latest technology of Wi-Fi. 

| Comments (0)

DLF going WI-FI way across India | INRnews

New Delhi, India, February 19, 2008 -DLF Limited, India's largest real estate developer is implementing Wi-Fi across DLF buildings all over India and is the first real estate company to adopt this latest technology of Wi-Fi. 

| Comments (0)

Parsvnath Developers launches a mega Mall-cum-Multiplex at Dehradun in Uttarakhand | INRnews

Dehradun, India, February 19, 2008 - Parsvnath Developers Ltd has announced that the Company has launched the first of its kind mega mall cum multiplex, Parsvnath Eleganza in Dehradun. The Company will invest Rs 40 crore in developing the complex.

| Comments (0)

February 15, 2008

DLF wins Title Sponsorship rights for Indian premier League | INRnews

New Delhi, India, February 15, 2008 - The Indian Premier League, has announced that India's leading real estate company DLF Ltd., has won the Title Sponsorship rights for the cricket extravaganza that is set to kick off on April 18th 2008.

| Comments (0)

Vipul Ltd announces Rs 600cr investment in Punjab | INRnews

Ludhiana, India, February 15, 2008 - Vipul Limited, the flagship company of Vipul Group today announced 3 mega launches for Punjab. Vipul World, the 109 acres mega housing project on Ferozepur Road, Ludhiana will be launched in April followed by construction of three hotels at Mohali, Ludhiana and Amritsar. The projects will be developed at an approximate investment of Rs600 crores.

| Comments (0)

Unitech consortium company gets 12,500 acres of land in West Bengal for Chemical SEZ | INRnews

Kolkata, February 15, 2008 - Unitech Ltd has announced that Government of West Bengal has given possession of about 12,500 acres of land at Nayachar Island (near Haldia) on February 15, 2008 to the developer PCR Chemicals Pvt Ltd for development of, inter alia, Chemical SEZ.

| Comments (0)

Unitech consortium company gets 12,500 acres of land in West Bengal for Chemical SEZ | INRnews

Kolkata, February 15, 2008 - Unitech Ltd has announced that Government of West Bengal has given possession of about 12,500 acres of land at Nayachar Island (near Haldia) on February 15, 2008 to the developer PCR Chemicals Pvt Ltd for development of, inter alia, Chemical SEZ.

| Comments (0)

Ansal Housing launches "Ansal Town" in Muzaffarnagar, UP | INRnews

Muzaffarnagar, India, February 15, 2008 - Ansal Housing & Construction Ltd has announced that, on February 15, 2008, the Company has launched a new Project named "Ansal Town", at Muzaffarnagar (U.P.). This is an Integrated Township Project at Shukratal Road, Muzaffarnagar (U.P.).

| Comments (0)

February 14, 2008

Home Solutions launches its first ‘Value’ home making retail concept in Aurangabad | INRnews

Aurangabad, India, February 14, 2008 -  Home Solutions Retail (India) Ltd., a part of the Future Group, today, announced the launch of a brand new retail format in the Home Segment called ‘Home Bazaar’, - a satellite version of its national home making and improvement retail brand Home Town. The first of its store was inaugurated in Aurangabad’s M Square Mall, Jalna Road here today.

| Comments (0)

February 08, 2008

MARG unveils plans for new city - “MARG Swarnabhoomi” in Tamil Nadu | INRnews

Chennai, India, February 08, 2008 - MARG Ltd; (formerly MARG Constructions Limited) announced the launch of its mega infrastructure project – “MARG Swarnabhoomi” off the East Coast Road near Chennai.

| Comments (0)

February 07, 2008

Indiabulls acquires DLF stake in Tehkhand residential project at South Delhi | INRnews

New Delhi, India, February 07, 2008 - Indiabulls Real Estate Ltd has announced that Indiabulls Infrastructure Ltd ("IIL"), a subsidiary of the Company, has acquired 100% shareholding of Catherine Builders and Developers Pvt Ltd ("Catherine") from DLF Home Developers Ltd.

| Comments (0)

February 04, 2008

Parsvnath & ITC join hands to manage hotels | INRnews

New Delhi, India, February 04, 2008 - Parsvnath Developers Ltd has announced that Parsvnath Hotels Ltd (PHL), a subsidiary of Parsvnath Developers Ltd, has signed a MoU with Fortune Park Hotels Ltd (FPHL), a wholly owned subsidiary of ITC Ltd, to manage 50 Hotels across the country in next three to five years.

| Comments (0)

January 29, 2008

Unity Infraprojects wins Rs 125 crore contract | INRnews

Hyderabad, India, January 29, 2008 - Unity Infraprojects Ltd has announced that the Company has received the "Notification of Award" through the Hospitals Services Consultancy Corporation on behalf of Ministry of Health & Family Welfare, Government of India and Nizam Institute of Medical Sciences, Hyderabad, for "Construction of Speciality Hospital and Accident (Trauma) & Emergency Hospital for upgradation of Nizam Institute of Medical Sciences, Hyderabad". The Contract Value is Rs 125.90 crores to be completed in a period of 15 months.

| Comments (0)

January 25, 2008

Parsvnath awarded occupancy nod for Phase I of Greenville project in Gurgaon | INRnews

Gurgaon, India, January 25,, 2008 - Parsvnath Developers Ltd has announced that in a commendable development, the Company has obtained the completion and occupancy certificate from Director, Town and Country Planning, Haryana for 228 units of Parsvnath Greenville, the residential project located on Main Gurgaon Sohna Road. The units for which the completion certificate has been received are categorized as 2BR and 3BR apartments in low-rise building.

| Comments (0)

January 22, 2008

Tata Realty and Infrastructure sets its sights on fast growth in a booming market | INRnews

Mumbai, India, January 22, 2008 - Tata Realty and Infrastructure (TRIL), one of the newer companies in the Tata Group and a 100 per cent subsidiary of Tata Sons, is all set to play its part in developing the nation.

| Comments (0)

Chandigarh Housing Board to construct 13,000 units | INRnews

Chandigarh, India, January 22, 2008 - The Chandigarh Housing Board (CHB) is to construct around 13,000 housing units under different categories in the city.

| Comments (0)

Kenilworth Beach Resort to add 16 villas in Goa property | INRnews

Panaji, India, January 22, 2008 - The Kenilworth Beach Resort and Spa, a 5-star hotel in Goa, is to add 16 luxury villas of 1,000 sq.ft to its property by Oct '08 at a cost of Rs 5.5 crore.

| Comments (0)

Uma Petroproducts to develop township near Khopoli | INRnews

Mumbai, India, January 22, 2008 -  The board of directors of Uma Petroproducts have decided to enter into a memorandum of understanding (MoU) with MS Group of Companies to jointly develop a township near Mumbai.

| Comments (0)

Farmers to set up own SEZ near Pune | INRnews

Pune, India, January 22, 2008 -  Farmers in a village near Pune, Avasari Khurd, have been given an in-principle approval from the State Government to set up an SEZ. Farmers decided to take this step to unlock the value of nearly 3,500 acres of barren land said to be worth Rs. 900 crores.

| Comments (0)

Pantaloon Retail to set up wholly owned subsidiaries | INRnews

Mumbai, India, January 22, 2008 - Pantaloon Retail India Ltd has announced that the Board of Directors of the Company at its meeting held on January 22, 2008, inter alia, has approved setting up wholly owned subsidiary Companies for Big Bazaar and Food Bazaar, Speciality Retail Business Activities and Property & Mall Management Division and transfer the respective businesses of the Company on a going concern basis to the respective subsidiaries, subject to receipt of all requisite statutory and other necessary approvals.

| Comments (0)

Now real estate and healthcare at Future Group stores | INRnews

Mumbai, India, January 22, 2008 - The Future Group, whose flagship company Pantaloon Retail operates over 1,000 stores nationwide, is looking to maximise the value of its locations through selling real estate and healthcare.

| Comments (0)

Land prices rise in Goa | INRnews

Panaji, India, January 22, 2008 - Land prices have risen significantly in Goa, driven by high interest for holiday homes or second homes in the state. Prices have increased by over 20% in the last one year alone across the state.

| Comments (0)

UK wants to be a genuine partner in developing India's Infrastructure | INRnews

New Delhi, India, January 22,2008 - Speaking at the inaugural session of the UK-India Infrastructure Conclave on January 16, organized by the Confederation of Indian Industry (CII) and UK Trade and Investment (UKTI), in Delhi, Digby, Lord Jones of Birmingham, UK Minister for Trade and Investment said that his country wants to be a genuine partner in developing India's infrastructure and not just a contractor. Given India's rising stature in the global sphere, he also endorsed India's membership of the UN Security Council and the G-8. He said that several British companies such as Bombardier and Mott McDonald are already engaged in developing India's infrastructure. He projected UK as an attractive and open global financial centre, ready to share its expertise and participate in India's PPP ventures in the infrastructure sector.

| Comments (0)

Infosys acquires 300 acres of land near Sarjapur for second Bangalore campus | INRnews

Bangalore, India, January 22, 2008 - Software giant Infosys Technologies has acquired 300 acres of land near Sarjapur in Bangalore at market prices to build a second campus in the city. Bangalore, the company's largest centre, is expected to seat 25,000 employees by March this year.

| Comments (0)

Deutsche Bank arm makes $70 mn Indian real estate investment | INRnews

Mumbai, India, January 22, 2008 - RREEF, the global alternative investment management business of Deutsche Bank, advised by Deutsche Asset Management (India) Pvt Ltd, has made its first real estate investment in India. RREEF has substantially completed the purchase of an undisclosed stake in Bangalore and Hyderabad-based real estate development company, Golden Gate Properties Ltd, for US$ 70 mn (Rs. 2735 mn).

| Comments (0)

Audi opens largest luxury car showroom in India in Gurgaon | INRnews

Gurgaon, India, January 22, 2008 - Audi, the German luxury car manufacturer, has announced the opening of its newest showroom in Gurgaon.

| Comments (0)

KNR Const IPO opens on Jan 24, price band Rs 170-180/share | INRnews

Mumbai, India, January 22, 2008 - KNR Constructions Limited (the "Company"), an infrastructure project development company, will enter the capital market soon with an Initial Public Offering ("IPO") of 7,874,570 equity shares of Rs 10 each for cash at a price ("Equity Shares") to be decided through a 100% book-building process. The Bid/ Issue opens for subscription on January 24, 2008 , and closes on January 29, 2008 . The Price Band has been fixed between Rs 170 and Rs 180 per Equity Share.

| Comments (0)

Wockhardt Hospitals Ltd. plans regional specialty ICU hospitals | INRnews

Mumbai, India, January 22, 2008 - Wockhardt Hospitals Limited, one of the largest private healthcare services companies in India, plans to develop a network of regional specialty ICU hospitals, which deepen and complement the penetration of the superspecialty hospitals through their referrals of patients in need of advanced tertiary care. The regional specialty ICU hospitals act as referral centres for the super-specialty hospitals for advanced and tertiary procedures, but are also self-sustaining and strategically located to fulfil market demand for basic tertiary care in the case of regional ICU hospitals and higher secondary care in the case of higher secondary care hospitals.

| Comments (0)

Wockhardt Hospitals plans Rs 5.69 bn investments in hospital projects | INRnews

Mumbai, India, January 22, 2008 - Wockhardt Hospitals Limited, the only private hospital group in India, associate of Harvard Medical International ("HMI"), a self supporting not-for-profit subsidiary of Harvard Medical School, has chalked out an ambitious growth strategy with an investment of Rs 5.69 billion in expanding, developing and constructing both greenfield and brownfield expansion plans.

| Comments (0)

Emaar MGF Land Limited IPO opens on February 01, 2008 | INRnews

Mumbai, India, January 22, 2008 - Emaar MGF Land Limited (“Emaar MGF” or the “Company”), a joint venture between one of the world’s leading real estate companies, Emaar Properties PJSC of Dubai, and MGF Development Limited of India, is entering the capital market with an initial public offering (“IPO”) of 102,570,623 equity shares of face value Rs 10 each for cash at a price (“Equity Shares”) to be determined through a 100% book building issue.

| Comments (0)

Haryana Chief Minister sees 2-3 more Gurgaons on the anvil | INRnews

Gurgaon, India, January 22, 2008 - It is indeed going to be Destination Haryana all the way during the coming years. In the next decade, Haryana envisages a target investment of US $ 50 billion which will generate employment opportunities for over 1 million people, stated Mr Bhupinder Singh Hooda, Hon'ble Chief Minister of Haryana while addressing the delegates at the National Council Meeting of the Confederation of Indian industry in Gurgaon last week.

| Comments (0)

Vishal Retail opens new showrooms in New Delhi and Gurdaspur, Punjab | INRnews

New Delhi, Indian, January 22, 2008 - Vishal Retail Ltd has announced that the Company has opened two new Showrooms in New Delhi and in Gurdaspur, Punjab.

| Comments (0)

Pantaloon Retail Announces Launch of Big Bazaar in Barrdhaman City | INRnews

Kolkata, India, January 22, 2008:  Pantaloon Retail (India) Limited, a part of the Future Group, announced on January 19th the launch of its flagship hypermarket retail store – Big Bazaar – in Barrdhaman city. With this launch the company has further enhanced its reach to the masses in Eastern India having 14 Big Bazaar stores, while for the country; the count goes upto 80 stores.

| Comments (0)

Big Bazaar Opens at Lee Road in Kolkata | INRnews

Kolkata, India, January 22, 2008 -  Pantaloon Retail (India) Limited, a part of the Future Group, further enhanced its reach to the masses in Kolkatta with the launch it’s one more flagship hypermarket retail store - Big Bazaar here at Lee Road on January 19.

| Comments (0)

Cosmos, The Siliguri Megamall Ushers In Lifestyle Change for Siliguri | INRnews

Siliguri, India,  January 22, 2008 - Future Group has announced the launch of ‘Cosmos, The Siliguri Megamall’ at 2nd Mile, Sevoke Road, opp. Electricity Board Office, Siliguri – 73400. Spread over an area of about 3 ½ lakh sq.ft., Cosmos Megamall caters to a wide spectrum of consumer needs, through a number of value and lifestyle stores (for apparel, electronics, home décor, accessories, footwear, etc), hyper markets, food court, restaurant & bar, gaming zone, wellness centre and a gymnasium. The mall houses over 75 retail stores including popular national chains of the Future Group, such as Big Bazaar (hyper market), Pantaloons (lifestyle apparel and accessories), Food Bazaar (food hypermarket), eZone (consumer durables and electronics store), Collection i (lifestyle furniture and furnishings), Depot (books, music and gifts store), Shoe Factory (foot wear store), Star & Sitara (beauty parlour), Talwalkar Fit & Active(gymnasium), etc.

| Comments (0)

January 21, 2008

BOA of SEZs grants 11 formal and 1 in-principle approvals | INRnews

New Delhi, India, January 21, 2008 - The Board of Approval of the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs.  In this meeting, 19 proposals for setting up SEZs, including 2 proposals for conversion of in-principle approvals to formal approvals were considered.  The Board recommended grant of 11 Formal approvals (including 2 requests for conversion of In-Principle Approvals to Formal Approvals) and 1 In-principle approval of a Multiproduct SEZ by Reliance Haryana SEZ Limited in Jhajjar District, Haryana.

| Comments (1)

India invites UK investment in infrastructure | INRnews

New Delhi, India, January 21, 2008 - India is seeking investments from UK in the areas like highway projects, bridges, expressways, ports, power generation, water plants, water management techniques. This was conveyed by Shri Kamal Nath, Union Minister of Commerce and Industry, during the India-UK CEOs Round Table, here today, and added that so far investments from UK was mainly from the sectors such as telecom, chemicals, fuels, service sector etc. The Round Table was attended by Lord Digby Jones, UK Minister of State for Trade and Investment and Dr. Ashwani Kumar, Minister of State for Industry, besides senior officials from both the countries.

| Comments (0)

Union Cabinet approves construction of new airport in Kannur, Kerala | INRnews

New Delhi, India, January 21, 2008 - The Union Cabinet has given its approval for setting up of a Greenfield International Airport through the Public Private Partnership (PPP) at Kannur, Kerala.

| Comments (0)

Union Cabinet approves transfer of Nagpur Airport to JV for upgradation to world class hub | INRnews

New Delhi, India, January 21, 2008 - The Union Cabinet has given its ‘in-principle’ approval for transfer of Dr. Ambedkar International Airport, Nagpur to the Joint Venture Company comprising AAI and Maharashtra Airport Development Company Ltd. For upgradation of the airport to a world class Multi Modal International Passenger and Cargo Hub (MIHAN).  The Union Cabinet also gave its approval to invest an amount of Rs. 4.90 crore by AAI in the equity of the Joint Venture Company.

| Comments (0)

Sabari Foundations to develop apartment complex at Siruseri, Chennai | INRnews

Chennai, India, January 21, 2008 - Chennai-based Sabari Foundations is to develop 308 apartments on a 10-acre site near the Sipcot Industrial complex at Siruseri. The total project cost is Rs 180 crore.

| Comments (1)

Elcot to develop 50,000 sq ft at IT SEZ in Tirunelveli | INRnews

Chennai, India, January 21, 2008 - The Electronics Corporation of Tamil Nadu (Elcot) is to construct over 50,000 sq ft of space at the Tirunelveli IT SEZ by June this year at a cost of Rs 15 crore. The Tamil Nadu government is keen to develop smaller cities like Tirunelveli, Salem, Madurai as IT destinations to leverage the talent pool available there.

| Comments (0)

Sri City to develop 5,000 acre SEZ near Chennai | INRnews

Chennai, India, January 21, 2008 - Sri City Pvt Ltd, an enterprise promoted by Mr Ravindra Sannareddy, Chairman, Megasoft Limited, is planning a 5,000 acre multi-product SEZ in North Chennai at a cost of Rs 2,500 crore.

| Comments (0)

Reliance Retail launches 6 new formats | INRnews

Mumbai, India, January 21, 2008 - The third quarter of FY 2007-08 was an eventful quarter for Reliance Retail. This quarter saw the launch of 6 new formats. The new formats launched by RRL this quarter are Reliance Trends, Reliance Footprint, Reliance Wellness, Reliance TimeOut, Reliance Jewels and Reliance Super. With the launch of the new formats, RRL now operates 9 different formats across India. Including the Reliance Fresh stores the company now operates over 465 retail stores across India.

| Comments (0)

SEBI proposes draft regulations for REITS for public comments | INRnews

Mumbai, India, January 21, 2008 - In recent years, India's real estate business has seen significant expansion, underpinned by rapid economic growth coupled with a series of IPOs by real estate companies.  Changing demographics, rising levels of foreign investment, a vibrant services sector powered by the IT sector and buoyant exports are the major contributors for India’s rapid GDP growth. The GDP growth and corporates' growing scale of operations have led to greater demand for commercial space, including modern offices, warehouses, lodging facilities and operational infrastructure. It has also boosted housing demand. Moreover, improved access to housing finance has boosted the demand for residential property. Over the last few years, modern real estate development and some investor interest has spread beyond metros and large cities.

| Comments (0)

Construction work to start on Rohtang Tunnel | INRnews

Shimla, India, January 21, 2008 - Construction work of 9 KMs. long Rohtang Tunnel below Rohtang Pass was likely to start by May, 2008. This was revealed by Prof. Prem Kumar Dhumal, Chief Minister, on receiving a communication from Shri M.M.Pallam Raju, Union Minister of State for Defence here today.

| Comments (0)

$150 million Pragnya Fund 2 to focus on South realty and hospitality projects | INRnews

Chennai, India, January 21, 2008 - Pragnya, a private equity fund, is to launch a $150 million fund "Pragnya Fund 2" focused on real estate and hospitality projects in South India.

| Comments (0)

Hindware forays in home interiors retail business | INRnews

Mumbai, India, January 21, 2008 - Hindustan Sanitaryware & Industries Limited (HSIL) has announced its ambitious plans to enter the organized retail sector with Home Interiors Specialty business. The company has incorporated Hindware Home Retail Private Ltd (HHRL) as a subsidiary of HSIL to spearhead the Group’s vision to evolve into a Total Home Solutions Enterprise and plans to invest Rs 250 crores over the next five years. HSIL is diversifying to capitalize on Home Interiors industry attractiveness in India considering growing urbanization & residential landscapes, changing consumer lifestyles, organized retail sector opportunities & the demand-supply scenarios. The vast Home Interior Solutions market opportunity size is estimated to be US$ 9 billion plus, with annual growth forecasts of 15-20% CAGR.

| Comments (0)

Indiabulls launches retail venture | INRnews

Mumbai, India, January 21, 2008 - Indiabulls Wholesale Services Ltd, the retail arm of the Rs-40,000  crore Indiabulls group has launched  42 stores across two retail formats-branded "Indiabulls Mart" and "Indiabulls Megastore", as part of its strategy to emerge as a leading player in the retail market.

| Comments (0)

Pipavav Shipyard plans Rs 2900 crore shipyard project | INRnews

Mumbai, India, January 21, 2008 - Pipavav Shipyard Limited is currently constructing a shipyard complex at Pipavav, located on the west coast of India adjacent to the maritime sea lane between the Persian Gulf and Asia. The Shipyard will have an estimated investment of Rs 2,888 crore. Upon completion of construction, the Pipavav Shipyard will be capable of ship construction and repairs for a range of vessels of different sizes and types, as well as the fabrication and construction of   offshore platforms, rigs, jackets and vessels,  for use by oil and gas companies in their exploration and production activities.

| Comments (0)

L&T launches premium township project off Old Mahabalipuram Road, Chennai | INRnews

Chennai, India, January 21, 2008 - L&T South City Projects Limited (L&T SCPL) has launched “Eden Park” – an integrated township off Old Mahabalipuram Road, Chennai, on January 18, 2008.

| Comments (0)

Westin opens the Westin Sohna Resort near Delhi | INRnews

New Delhi, India, January 21, 2008 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) has announced the opening of its first Westin property in India, The Westin Sohna Resort. Close to both Delhi and Gurgaon, the new resort offers a restful, rejuvenating guest experience enhanced by superior recreational facilities, naturally-lit meeting space, an array of world-class cuisine and the full range of Westin's renowned signature amenities.

| Comments (0)

Improved Financial Management of Urban Local Bodies Critical for Growth: World Bank | INRnews

New Delhi, India, January 21, 2008- A new World Bank study, the first of its kind in India titled ‘Synthesis Study of Public Financial Management and Accountability  (PFMA) in Urban Local Bodies (ULBs)’ was today jointly released by Mr. M. Ramchandran, Secretary, Ministry of Urban Development, Government of India, and Mr. Rachid Benmessaoud, Operations Advisor, the World Bank, India.

| Comments (0)

Hindustan Construction wins Rs 375 crore project in Visakhapatnam | INRnews

Visakhapatnam, India, January 21, 2008 - Hindustan Construction Company Ltd has announced that the Company has received a Letter of Acceptance from Indian Strategic Petroleum Reserves Ltd, New Delhi, for execution of Civil works for Underground Rock Cavern (Part A) for Strategic Storage of Crude Oil Project at Visakhapatnam, Andhra Pradesh.

| Comments (0)

DLF signs MoU with Gayatri Projects to develop infrastructure Projects | INRnews

New Delhi, India, January 21, 2008 - DLF Ltd has announced that the Company has signed a Memorandum of Understanding (MoU) with Gayatri Projects Ltd (GPL), one of the leading infrastructure Companies in India, to develop roads and highway projects across the country.

| Comments (0)

Nagarjuna Construction wins Rs 502 crore projects | INRnews

Hyderabad, India, January 21, 2008 - Nagarjuna Construction Company Ltd (NCC) has recently bagged six new orders valued at Rs 502 Crores as per details given below :

| Comments (0)

Unity Infraprojects wins Rs 102 crore construction project in Pune | INRnews

Pune, India, January 21, 2008 - Unity Infraprojects Ltd has announced that the Company has received the Letter of Intent dated January 16, 2008 from Magarpatta Retail Pvt Ltd for Civil Construction works of the proposed building for Magarpatta Retail Mall Project at Magarpatta City, Hadapsar, Pune. The Contract Value is Rs 102.14 crores (exclusive of VAT (WCT) & service tax) and the project is to be completed with 9.5 months from commencement of work.

| Comments (0)

Trikona Trinity Capital gets SEZ status for Delhi IT Park | INRnews

New Delhi, India, January 21, 2008 - Trikona Trinity Capital PLC (AIM: TRC), a fund created for investing in real estate and real estate related entities across India, has announced that the Board of Approval in India conferred IT Special Economic Zone ("SEZ") status upon the Company's Uppal IT Park "Tech Oasis" (Development Project 1) on 16th January 2008.

| Comments (0)

Gurgaon gets second Reliance Retail minimart | INRnews

New Delhi, India, January 21, 2008 - Reliance Retail Ltd has announced the launch of its second Minimart ‘Reliance Super’ at LG-01, DT Mega Mall, DLF City, Gurgaon – 122002 Haryana. After the successful launch of the various formats - Reliance Fresh, Reliance Mart, Reliance Digital, Reliance Trendz, Reliance I store Reliance Footprint, Reliance Wellness, Reliance Jewels and Reliance Timeout, this is the tenth format of stores from Reliance Retail to be launched in India.

| Comments (0)

HDIL Plans 70 Acres Cybercity at Kalamaserry, Kochi | INRnews

Kochi, India, January 21, 2008 - Housing Development and Infrastructure Limited (HDIL), through its subsidiary, Blue Star Realtors Pvt. Ltd., announced its plans to inaugurate HDIL CYBERCITY at Kalamaserry in Kochi. HDIL CYBERCITY which will be spread across an area of 70 Acres of land, will be Kerala’s FIRST INTEGRATED IT Township, having, besides IT/ITES, Residential apartments, Villas, Schools, Shopping Malls, Multiplex, club house, service apartments and a Star Hotel.

| Comments (0)

India pegged to be more lucrative and faster growing amusement industry than China | INRnews

Hyderabad, India, January 21, 2008 - The Amusement & Leisure Industry in India is on the verge of an explosive growth. According to Indian Association of Amusement Parks and Industries(IAAPI), an industrial trade body. The Indian Amusement Park Industry is around Rs 4,000 crore and is estimated to grow by 6 per cent per annum till the year 2010.

| Comments (0)

January 16, 2008

J. Kumar Infraprojects IPO opens on Jan 18 | INRnews

Mumbai, India, January 16, 2008 -  J. Kumar Infraprojects Limited ("JKIL" or the "Company"), a civil engineering and infrastructure development company with a primary focus on development of roads, flyovers, bridges, railway over bridges, irrigation projects, commercial and residential buildings, railway buildings, sports complexes and airport contracts, is entering the capital market with an Initial Public Offering ("IPO") of 65,00,000 equity shares of Rs 10 each for cash at a price ("Equity Shares") to be decided through a 100% Book-Building Process. The Bid/Issue opens on January 18, 2008 , and closes on January 23, 2008 . The Company has fixed the Price Band between Rs 110 and Rs 120 per Equity Share.

| Comments (0)

January 15, 2008

Hyderabad Urban Development Authority to sell 164 acres of land in Budvel | INRnews

Hyderabad, January 15, 2007 - The Hyderabad Urban Development Authority is to develop land parcels around the Outer Ring Road (ORR) Project. HUDA now proposes to develop 164 acres of land on Mixed Use Basis at Budvel, Ranga Reddy District, Hyderabad. Reserve Price is fixed as Rs. 4.00 Cores per acre.

| Comments (0)

Hirandani Palace Gardens in Chennai sees strong sales | INRnews

London, UK, January 15, 2008 - Hirco PLC (AIM: HRCO), the investment vehicle for Hiranandani, India’s largest developer of prestigious mixed-use townships, today announced that sales of residential units in Phase 1 of its Chennai township development, Hiranandani Palace Gardens, continue to be strong both in terms of volume of residential units sold and the level of pricing achieved.

| Comments (0)

January 14, 2008

Home loan interest rates to come down | INRnews

Mumbai, India, January 14, 2008 - Leading bankers are suggesting that interest rates on home loans are likely to come down this year. This should be welcome news indeed to millions of borrowers who have seen interest rates go up significantly in the last two years.

| Comments (0)

Haryana Urban Development Authority HUDA to build 20,660 flats for poor | INRnews

Chandigarh, India, January 14, 2008 - The Haryana Urban Development Authority (HUDA) is to construct 20,660 flats for the economically-weaker sections of society in the districts of Faridabad, Gurgaon, Bahadurgarh, Rewari, Rohtak, Kaithal, Ambala, Hisar, Jind and Sirsa. Over 2,000 units are already under construction in Panchkula.

| Comments (1)

Subhiksha to set-up mobile retail stores in Andhra Pradesh | INRnews

Hyderabad, India, January 14, 2008 - Supermarket chain Subhiksha is to set up stores to retail mobile products such as handsets, connections and accessories in Andhra Pradesh.

| Comments (0)

Ansal Housing to raise over Rs 70 crore | INRnews

Mumbai, India, January 14, 2008 - Ansal Housing & Construction Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on January 12, 2008, inter alia, have approved the following:

| Comments (0)

Kolte-Patil Developers launches serviced apartments in Hinjewadi, Pune | INRnews

Pune, India, January 14, 2008 - Kolte-Patil Developers Limited, one of the leading real estate developers in India, have launched ‘Green Olive’ project, a four star serviced apartments project, at Rajiv Gandhi IT park, Hinjewadi, Pune with a total investment of 74 cr.

| Comments (0)

January 13, 2008

Tamil Nadu levies infrastructure charges on builders | INRnews

Chennai, India, January 13, 2008 - In a move likely to be welcomed by those concerned with unplanned growth and poor infrastructure, the Tamil Nadu Government has decided to charge builders an infrastructure and amenities charge of between Rs 200 - 1,000 per sq.m excluding non-FSI and parking areas.

| Comments (0)

Two new SEZs proposed in Punjab | INRnews

Chandigarh, January 13, 2008 - Real Estate Developers Ansal Properties & Infrastructure (API) and Ishan Developers & Infrastructure (IDI) have proposed two new SEZs in Punjab with an investment of Rs 2,367 crore.

| Comments (0)

January 12, 2008

Reliance Retail launches footwear store - Reliance Footprint | INRnews

New Delhi, India, January 12, 2008 - Reliance Retail Ltd. launched the 3rd outlet of its speciality store “Reliance Footprint” at Star City Mall, Mayur Vihar, New Delhi after the successful launch of 9 formats, supermarket format “Relaince Fresh”, hypermarket format “Relaince Mart”, Minimart format “Reliance Super” and 5 speciality stores Reliance Digital, Reliance Trendz, Reliance Wellness, Reliance Footprint, Reliance Jewels and Reliance Time-Out.

| Comments (0)

NATCON 2008 emphasises need for affordable housing | INRnews

New Delhi, India, January 12, 2008 - Shri Kamal Nath, Hon’ble Minister of Commerce & Industry and Kumari Selja - Hon’ble Minister of State, (IC), Housing and Poverty Alleviation today emphasized the need for affordable housing, while addressing Natcon 2008, CREDAI’s 7th National real estate convention. The first day of this three-day convention at Hotel Ashok, New Delhi, saw participation of more than 800 delegates from Government, Real Estate and Housing Finance Institutions. Panel discussions and debates were primarily focused on Policies & Regulatory Environment, Real Estate Indices and Developer Rating. The convention is being actively supported by the Ministry of Urban Development Government of India & Ministry of Housing and Urban Poverty Alleviation Government of India.

| Comments (0)

January 11, 2008

Mercantile Bank Building in Vashi sold to Shah Group | INRnews

Mumbai, India, January 11, 2008 - The Mercantile Bank building in Vashi has been sold to the Shah Group.

| Comments (0)

AIG launches AIG Infrastructure & Economic Reform Fund | INRnews

Mumbai, India, January 11, 2008 - AIG Investments today announced the launch of the AIG Infrastructure and Economic Reform Fund, an open-ended equity scheme. The fund will invest in companies that may benefit from potential investments in infrastructure and unfolding economic reforms without having any bias towards any sector or market capitalization range.

| Comments (0)

January 10, 2008

EOU/SEZ sector accelerates economic growth: Minister | INRnews

New Delhi, India, January 10, 2008 - Shri Kamal Nath, Minister for Commerce and Industry, has stated that the EOU/SEZ Sector is playing a very important role in encouraging manufacturing activity, providing substantial employment opportunities, thereby accelerating the pace of economic growth. The units set up under these schemes are already providing direct employment to over 6.5 lakh people. He was speaking at the Export Awards function, organised by the Export Promotion Council for EOUs and SEZ Units (EPCES), here last evening. Shri R. Gopalan, Additional Secretary, Department of Commerce; Shri R.S. Gujral, Director General of Foreign Trade (DGFT); Shri T. Vasu, Chairman, EPCES and Shri L.B. Singhal, Director General of EPCES, apart from Development Commissioners of various EPZs and SEZs were present on the occasion.

| Comments (0)

Paranjpe Schemes launches residential project in Sopan Baug, Pune | INRnews

Pune, India, January 10, 2008 - Pune based developer Paranjpe Schemes Construction Ltd has launched a new apartment project "La Cresta" in Sopan Baug, Pune.

| Comments (0)

New Luxury Business Hotel VITS Launched in Belgaum | INRnews

New Delhi, India, January 10, 2008 - (press release) A 60-room VITS property, part of a new chain of luxury business hotels from Kamat Hotels (KAMT.BO, news) India Limited (KHIL), opened today in Belgaum. Located at Club Road, the new hotel offers contemporary luxury business accommodation for discerning business class travellers from across India.

| Comments (0)

Unitech to list UOT in Singapore | INRnews

Mumbai, India, January 10, 2008 - Unitech Ltd has announced that Unitech office Trust ("UOT") (a business trust proposed to be formed and registered under the laws of Singapore) is contemplating offer of its units for subscription by the investors, including the public in Singapore, by way of an initial public offering in Singapore ("IPO"), which is proposed to be listed on the Main Board of Singapore Exchange Securities Trading Ltd ("SGX-ST"). In pursuance of the aforesaid, SGX-ST has granted the 'Eligibility to list' to UOT on January [09], 2008, subject to the conditions specified therein.

| Comments (0)

L&T bags orders of over Rs 3500 crore | INRnews

Larsen & Toubro’s (L&T) Construction Division has recently secured orders on Design and Build/Turnkey basis from leading Developers/ Owners. Prominent amongst these include Rs. 2000 crore orders from M/s. Kingston Properties Pvt. Limited for construction of various office & residential buildings in Mumbai, to be developed in a span of 4 years.

| Comments (0)

Supreme Infra bags Rs 71.99cr contract from Thane Coporation | INRnews

Mumbai, India, January 10, 2008 - Supreme Infrastructure India Ltd (SIIL), an infrastructure development company engaged in civil construction activities, has bagged a building construction contract worth Rs 71.99 crores from Thane Municipal Corporation (TMC). This is in Joint Venture with M/s. Chawla Interbild. This work of construction of RCC building in Thane City (Tulsidham) is part of BSUP scheme. The contract will be executed in a period of 18 months.

| Comments (0)

Bharati Shipyard to build Green Field Shipyard in Dabhol | INRnews

Mumbai, India, January 10, 2008 - Bharati Shipyard Limited, one of the leading Private Sector Shipyard, today announced its plan to construct a Green Field modern shipyard at Usgaon near the Dabhol port in Ratnagiri district.

| Comments (0)

January 09, 2008

Eco-city projects underway | INRnews

New Delhi, India, January 09, 2008 - The first phase of Eco-City programme is in advance stage of completion at the close of 10th five year plan. It covered six towns namely Kottayam, Tirupati, Ujjain, Puri, Thanjavur and Vrindavan. It aimed at improving the existing environment and at changing those aspects that are causing environment damage.

| Comments (0)

Dev Property Development eyes £114 million sale of development projects in Mumbai | INRnews

Mumbai, India, January 09, 2008 - Dev Property Development plc (AIM: DPD), a company investing in Indian real estate, today announces that it has sent a circular to shareholders convening an extraordinary general meeting (EGM) on 25 January 2008. The purpose of the EGM will be to seek shareholder consent for the disposal of Dev's interests in two of its three development projects for a total minimum consideration of £114 million (the Minimum Consideration).

| Comments (0)

Land allotted for Private IT Park at Rajiv Gandhi IT Habitat at Dona Paula, Goa | INRnews

Panaji, India, January 09, 2008 - BSEL Infrastructure Realty Limited in 50:50 Joint Venture with Unity Infraprojects Limited, has been awarded and allotted an area of 40,000 sq. meters with 1.50 Floor Space Index (FSI) at “Rajiv Gandhi IT Habitat” at Donna Paula, Goa for developing and constructing an Information Technology Park (IT Park).

| Comments (0)

January 08, 2008

Parsvnath Developers awarded 90 crore contract to build SAI ASHRAM at SHIRDI | INRnews

Shirdi, India, January 08, 2008 - Parsvnath Developers Ltd has announced that the Company has been awarded the construction contract of Sai Ashram at Shirdi in Maharashtra. The work has been awarded by Shirdi Sai Trust, Chennai, and the managing, trustee being Mr. K V Ramani.

| Comments (0)

January 07, 2008

40 Mln. Low-Cost Houses & 500 Health Centres Needed For Urban Poor | INRnews

New Delhi, India, January 07, 2008 - Over 40 million low-cost dwelling units and additional 500 urban health and family welfare centers are needed to be put up to provide basic housing and health facilities to about 190 million Urban Poor, which still slog to obtain these facilities at times when a significant part of Urban India is spending between   Rs.30 to Rs.40 lakhs for per dwelling unit, according to findings of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

| Comments (0)

January 03, 2008

Parsvnath Developers to set up Pharma SEZ in Nanded, Maharashtra | INRnews

New Delhi, India, January 03, 2007 Parsvnath Developers Ltd has announced that in pursuance to development of SEZs, Parsvnath SEZ Ltd (PSL), a subsidiary of the Company, will develop a Pharmaceutical Special Economic Zone (SEZ) at Nanded in Maharashtra. The Company has received LoI from Maharashtra Industrial Development Corporation (MIDC), a Maharashtra Govt. Undertaking for development of Pharma SEZ project in krushnoor Industrial Area of Nanded which is in close proximity to the SH-6 connecting Nanded and Secunderabad.

| Comments (0)

Real Estate Destinations 2008 - The show goes on | INRnews

Mumbai, India, January 03, 2008 - Anuj Puri, Chairman & Country Head, Jones Lang Lasalle Meghraj, looks at the year 2008 for Indian real estate.

| Comments (1)

January 02, 2008

Parsvnath Developers receives LoI for IT Park in Gurgaon | INRnews

Gurgaon, India, January 02, 2008 - Parsvnath Developers Ltd has announced that the Company has received LoI from Director Town and country planning, Haryana to develop an IT Park project on Main Gurgaon Sohna Road just 3 kms away from Rajiv Chowk in Gurgaon. The approximate realization from the project is expected to be Rs 650 crore within 2 financial years.

| Comments (0)

IRB Infra gets SEBI go ahead, IPO by 3rd week | INRnews

Hyderabad, India, January 02, 2008 - Mumbai-based IRB Infrastructure Developers Limited, an infrastructure development and construction company in India with significant experience in the roads and highways sector, has received SEBI observations for its public issue of 51,057,666 Equity shares of Rs 10 each through 100% book building process.

| Comments (0)

Ramky Infrastructure Limited files DRHP with the SEBI | INRnews

Mumbai, India, January 02, 2008 - Ramky Infrastructure Limited (the “Company”), an integrated construction, infrastructure development and management company in India with a strategic emphasis on environmental oriented projects, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India (“SEBI”) to enter the capital market soon with an Initial Public Offering (“IPO”) of equity shares of Rs 10 each for cash at a price (“Equity Shares”) to be decided through a 100% book-building process and aggregating to Rs 4,000 million.

| Comments (0)

BOA grants 24 formal and 4 in-principle SEZ approvals | INRnews

New Delhi, India, January 02, 2008 - The Board of Approval of the Special Economic Zones (SEZs) met on 2nd January 2008 to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs.

| Comments (0)

January 01, 2008

Unmoved by high Iinterest rates, realty sector remained bullish on the primary market | INRnews

New Delhi, India, January 01, 2008 - The real estate companies remained robust in 2007, despite worries of high interest rates, as is evident by an overwhelming 42.7 per cent of the total primary market funds going to the sector in the year, an ASSOCHAM Eco Pulse Study (AEP) has said.

| Comments (0)

Indian Real Estate Roundup - 2007 | INRnews

Mumbai, India, January 01, 2008 - Anuj Puri, Chairman & Country Head, Jones Lang Lasalle Meghraj, looks back on the year 2007 in Indian real estate.

| Comments (0)

500 acre Nano Biosym park proposed in Solan, Himachal Pradesh | INRnews

Shimla, India, January 01, 2008 - Dr. Anita Goel, Chairperson and Chief Executive Officer of US Company Nanobiosym met Himachal Pradesh Chief Minister Prof. Prem Kumar Dhumal at New Delhi yesterday and discussed with him about setting up of first Nano -Biosym Park in the country.

| Comments (0)

December 31, 2007

In 2008, Retail, Real Estate Poised for 35% & 45% Growth | INRnews

New Delhi, India, December 31, 2007 - Retail and real estate boom will further roll down in 2008 as these two key sectors are well poised to notch a year-on-year growth of 30-35% and between 40-45% respectively over the calendar year 2007, according to projections made by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

| Comments (1)

Global developers respond to RFQ development of world-class railway stations | INRnews

New Delhi, India, December 31, 2007 - The process for prequalification of bidders for the development of 22 railway stations as world class stations has been initiated. A global advertisement in this regard has already been issued by the Ministry of Railways. The Request for Qualification (RFQ) document is now available on the Ministry of Railway’s website http://indianrailways.gov.in. A calendar for bringing the process to the climax of appointing the concessionaire is also available in the RFQ document. Word class developers have already shown interest and good competition is expected. Ministry of Railways has decided to develop 22 railway stations, located in metropolitan cities and major tourist centres, as world class stations through Public Private Partnership (PPP) route be leveraging a part of the real-estate development potential. Required consultancies are being carried out for architectural, technical, financial and legal activities. Needed coordination with local bodies is being carried out by high level committees specially constituted.

| Comments (0)

December 28, 2007

Unity Infraprojects wins mall project in Kurla, Mumbai | INRnews

Mumbai, India, December 28, 2007 - Unity Infraprojects Ltd has announced that the Company has received the Letter of Intent from Offbeat Developers Pvt Ltd, Mumbai for Civil Construction Work for construction of Mall named Market City, at Kurla, Mumbai. The Contract Value of the Project is Rs 57.41 crores (Rupees Fifty Seven Crores and Forty One Lakhs Only) excluding the cost of concrete and it is to be completed within 15 months.

| Comments (0)

Parsvnath Developers completes Phase II of Parsvnath Prestige Housing project in Noida | INRnews

Noida, India, December 28, 2007 - Parsvnath Developers Ltd has announced that the Company has obtained the completion and occupancy certificate from NOIDA Authority for its Group Housing project at Noida, Parsvnath Prestige for the second phase, after successfully receiving the completion and occupancy certificate for 1st Phase.

| Comments (1)

BSEL issues US$35 million worth of GDRs | INRnews

Hyderabad, India, December 28, 2007 - BSEL Infrastructure Realty Limited has completed an issue of 2,147,202 GDRs raising amount of US$35 million. The GDRs will be listed on the Luxembourg Stock Exchange today. The underwriter for the transaction was Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc and Fortress Financial Services Ltd.

| Comments (0)

Megamart spreads wings, opens three stores in Delhi | INRnews

New Delhi, India, December 28, 2007 - Megamart, pioneer in value retailing and branded apparel segment opened three stores in Delhi at prime locations such as New Rajdhani enclave, Kohat enclave and Shivaji enclave in less than a span of month’s time.

| Comments (0)

Hirco publishes annual report, sees strong growth in Indian real estate | INRnews

London, UK, December 28, 2007 – Hirco PLC (AIM: HRCO), the investment vehicle for Hiranandani, India’s largest developer of prestigious mixed-use townships, today announced that it has published its Annual Report and Accounts for the period ended 30 September 2007.

| Comments (0)

December 27, 2007

Parsvnath Developers to build Highway Mall at Rajpura, Punjab | INRnews

New Delhi, India, December 27, 2007 - Parsvnath Developers Ltd has announced the launch of its premium commercial project, Parsvnath Highway Mall, in the city of Rajpura, Punjab. The project will enhance the travelers' joy by combining comfort and leisure.

| Comments (0)

Indian Railways: Strides of Progress in 2007 | INRnews

New Delhi, India, December 27, 2007 - In the past few years, Indian Railways have registered an unprecedented turnaround in its fortunes that has helped launch itself towards a path of gigantic growth and development, keeping in view the future transportation needs of the economy.   Milestones have been bettered and sights set on newer ones, especially those that beckon it during the 11th Plan period such as the freight loading target of 1100 million tonnes during that period.

| Comments (0)

Achievements/initiatives of the Indian Ministry of Civil Aviation in 2007 | INRnews

New Delhi, India, December 27, 2007 - The Ministry of Civil Aviation has highlighed ints achievements and initiatives in the year 2007 in its year end review.

| Comments (0)

December 21, 2007

Eredene Capital PLC invests in logistics centres in NCR, Uttaranchal and Punjab | INRnews

London, UK, December 21, 2007 - Eredene Capital PLC (AIM: ERE), the AIM quoted Indian property developer, today announces that its wholly owned subsidiary Bandra Mauritius Limited (together “the Eredene Group”) has agreed to invest up to INR 854 million (£11 million) in a £26 million project to build and operate three multi-user logistics centres in a ‘hub and spoke’ model on 28 acres of land in Northern India.

| Comments (0)

Pantaloon Retail Announces Launch of Big Bazaar in Ahmednagar | INRnews

Ahmednagar, December 21, 2007:  Pantaloon Retail (India) Limited, part of the Future Group, today announced the launch of its flagship hypermarket format - Big Bazaar – in Ahmednagar.  With today’s launch, the company has further enhanced its reach to the masses in Maharashtra, with Ahmednagar Big Bazaar being the 18th store in the State, while overall tally goes upto 76 Big Bazaar stores in the country.

| Comments (1)

December 20, 2007

Starwood to launch new aloft hotels in Chennai and Bangalore | INRnews

Chennai, India, December 20, 2007 - Starwood Hotels & Resorts Worldwide, Inc. today announces that its much-anticipated new lifestyle brand, aloft(SM) hotels, will partner with Urbanedge Hotels Private Limited, a joint venture between Citigroup Property Investors and Auromatrix Hotels Private Limited, to develop aloft hotels across India. The brand's first two hotels to open in India will be aloft Bangalore, Whitefield and aloft Chennai, OMR - Sholinganallur.

| Comments (0)

Omaxe subsidiary to purchase 25 acres of land in Kokapet, Hyderabad | INRnews

Hyderabad, India, December 20, 2007 - Omaxe Ltd has announced that Hyderabad Urban Development Authority has accepted the bid of M/s. Eden Buildcon Pvt Ltd (Wholly owned Subsidiary of the Company) for 25 acres of land situated at Kokapet Area in Hyderabad in an "Auction of Premium Plots for Multipurpose Use" in an open auction cum sealed tender basis.

| Comments (0)

Parsvnath Developers announces maiden housing project in Jammu | INRnews

New Delhi, India, December 20, 2007 - Parsvnath Developers Ltd has announced the launch of an Integrated Group Housing Project "Parsvnath Passion" in Jammu. The Company on December 20, 2007, announced the launch of residential project, Parsvnath Passion duly approved by Jammu Development Authority (JDA) in the region with an approximate realization value of over Rs 100 crore in next three years including this financial year.

| Comments (0)

Civic facilities for the urban poor | INRnews

New Delhi, India, December 20, 2007 - Based on National Sample Survey 61st Round data, the Planning Commission has brought out the figures of number of people living below poverty line in the urban areas. The Planning Commission has used two methods - Uniform Recall Period method and Mixed Recall Period method. According to Uniform Recall Period method, the estimated number of urban resident below poverty line is 8.08 million. According to Mixed Recall Period method, the estimate is 6.82 million in 2004-05.

| Comments (0)

Reliance Retail Launches Reliance Super in Amritsar | INRnews

New Delhi, India, December 20, 2007 - Reliance Retail Ltd. announced the launch of a new format “Reliance Super” at Suraj chand tara cinema , Ground floor , Plot number 2 , City Centre , Amritsar. After the successful launch of the various formats - Reliance Fresh, Reliance Mart, Reliance Digital, Reliance Trendz, Reliance Footprint, Reliance Wellness, Reliance Jewels and Reliance Timeout, this is the Ninth format of stores from Reliance Retail to be launched in India.

| Comments (0)

Unitech Corporate Parks Plc announces strong interim results | INRnews

London, UK, December 20, 2007 - Unitech Corporate Parks Plc (AIM: UCP), one of the leading investment companies focusing on commercial real estate in India, announces interim results for the six months ended 30 September 2007.

| Comments (0)

December 19, 2007

Simplex Infrastructures - Rs 400 crore equity issue | INRnews

Mumbai, India, December 19, 2007 - Simplex Infrastructures Ltd has announced that the Board of Directors of the Company has approved allotment of 64,00,000 equity shares of Rs 2/- at Rs 625/- each amounting to Rs 400 crores to the Qualified Institutional Buyers under QIP. This new issue accounts for 13% of the expanded capital.

| Comments (0)

Delhi Airport Development moves into a new phase | INRnews

New Delhi, India, December 19, 2007 - The ongoing modernization of Indira Gandhi International Airport moved into a new phase when the Honorable Minister for Civil Aviation, Mr. Praful Patel inaugurated the ‘Concrete Pouring’ process for the first slab of the Integrated Passenger Terminal Building (PTB). The Honorable Minister was also apprised on the status modernization and development works being carried out by Delhi International Airport (P) Limited to transform IGIA into a world class facility.

| Comments (0)

December 18, 2007

Ministry of Housing and Urban Poverty Alleviation year-end review | INRnews

New Delhi, India, December 18, 2007 - The year 2007 witnessed several initiatives by the Ministry of Housing & Urban Poverty Alleviation such as unveiling of new National Urban Housing & Habitat Policy, restructuring the Scheme of Swarna Jayanti Shahari Rozgar Yojana (SJSRY), Skills Training for Employment and Promotion amongst the Urban Poor (STEPUP), Interest Subsidy Scheme of Housing for the Urban Poor, Integrated Low Cost Sanitation Scheme and Urban Statistics for HR and Assessments (USHA). The Ministry has also progressed well in the implementation of Jawaharlal Nehru National Urban Renewal Mission (JNNRUM). Kumari Selja, Minister of State (Independent Charge) for Housing & Urban Poverty Alleviation has said while giving a overview of the performance of the Ministry that considering the urban poverty issues becoming critical, the Ministry enhanced its budget for urban poverty alleviation by 40% during 2006-07.

| Comments (0)

Dubai based 'Plus Properties' markets Middle East properties in India | INRnews

Mumbai, India, December 18, 2007 - Plus Properties, one of UAE’s leading real estate developers is planning to enter the burgeoning real estate market in India. Reputed for creating exquisite waterfront developments in UAE region, Plus Properties is planning to bring its expertise into the market by tying up with a local partner. At Cityscape exhibition in India, Plus Properties showcased three waterfront projects which generated immense interest and sales among the HNI segment.

| Comments (0)

AP has the best policies for developing SEZ : Dr. Geeta Reddy | INRnews

Hyderabad, India, December 18, 2007 - Confederation of Indian Industry, Andhra Pradesh along with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) organised a one day conference – The SEZ Forum 2007 focusing on the various issues pertaining to the impact of SEZs in economic development.

| Comments (0)

Map region will be a counter magnet to migration to chennai | INRnews

Chennai, India, December 18, 2007 - “The development of towns and cities around Chennai, as envisaged by the Marakkanam, Arakkonam and Pulicat (MAP) Chennai Region, would strengthen the urban phenomenon in Tamil Nadu and absorb the shock of migration to Chennai. The MAP Chennai region would act as a counter magnet to the wave of migration to the metropolitan area, in the same way the National Capital Region comprising cities such as Gurgaon and Noida reduced the net rate of migration to Delhi,” said Mr S Jaipal Reddy, Minister for Urban Development, Government of India. He announced that the Central Government would soon give its nod to the Chennai Metro Rail project and help the State Government introduce Bus Rapid Transport System in Chennai and the tier II cities of Coimbatore, Trichy and Madurai.

| Comments (0)

Pride Hotel gears up for expansion of Rs. 340 Crores | INRnews

Mumbai, India, December 18, 2007 - Pride Hotels announced today, that it has received a significant investment from Kotak India Real Estate Fund towards part financing of its Rs. 340 crore expansion-cum-renovation plan.

| Comments (0)

December 17, 2007

Omaxe bids for projects in Delhi and Noida | INRnews

New Delhi, India, December 17, 2007 - Omaxe Ltd has announced that the Company has, on December 15, 2007, through a consortium comprising of its wholly owned subsidiary M/s. Omaxe Infrastructure & Construction Pvt Ltd and M/s. GVK Power & Infrastructure Ltd, submitted a Bid / RFQ with The National Highway Authority of India (NHAI) to undertake development of Badarpur Highway Elevated Project (consisting of construction of elevated Road of 4.4 kms in the Delhi Agra Section) through Private Participation on 'Build, Operate and Transfer' (BOT) basis.

| Comments (0)

DS Kulkarni and GTC Real Estate NV to develop 250-acre SEZ in Pune | INRnews

Pune, India, December 17, 2007 - DS Kulkarni Developers Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2007, has approved the Term Sheet executed last month between the Company and GTC Real Estate NV for Joint Development of a 250-acre Multi Services SEZ at Pune.

| Comments (0)

Bharti retail in talks with realty majors for land | INRnews

New Delhi, India, December 17, 2007 - Bharti Retail, a subsidiary of Bharti Enterprises, Monday said it was holding discussions with major real estate players for setting up its stores.

| Comments (0)

December 16, 2007

Fishman to invest $2B in a 4 million square meter township project in Jaipur, India | INRnews

Jerusalem, Israel, December 16, 2007 - Mondon Investments, the Indian real estate development subsidiary of Israeli firm Fishman Holdings recently purchased a 600-acre lot in Jaipur, India for $108 million.

| Comments (0)

December 15, 2007

Sahara City Homes real estate project exhibited at Dubai | INRnews

Lucknow, India, December 15, 2007 - Sahara Infrastructure and Housing, India’s leading real estate company exhibits its flagship project ‘Sahara City Homes’ at Indian Property Show, Dubai. The Indian Property Show is one of the largest and most diverse exhibitions of exclusive Indian property to cater to the customers (NRIs) and Investors who are interested in Indian Properties. The show has attracted all the major real estate developers of India who are showcasing their projects to the prospective buyers in Dubai. The three days property show beginning from 13th December 2007 will be held at Airport Expo, Dubai.

| Comments (0)

CII INFRA 2007 to propose 'MAP' region for development in Tamil Nadu | INRnews

Chennai, India, December 15, 2007 - Confederation of Indian Industry (CII), Tamil Nadu State Council is all set to propose the development of 'MAP' region (comprising Marakkanam, Arakkonam, and Pulicat) to build a strong Greater Chennai Region for balanced and inclusive regional development in Tamil Nadu.

| Comments (0)

December 14, 2007

Parsvnath launches Group housing project at Sonepat, Haryana | INRnews

New Delhi, India, December 14, 2007 - Parsvnath Developers Ltd has announced the launch of Parsvnath Preston, a high-end group housing residential project, in Sonepat, Haryana. The expected realization from the project is over Rs 450 crore in next 3 years including this financial year.

| Comments (0)

Atlanta Ltd buys property in Jodhpur; to develop mall | INRnews

Atlanta Ltd has announced that the Shreenath Builders, Partnership Firm in which the Company is a partner and having a stake of 51% has purchased a property named Olympic Cinema admeasuring 6988.89 sq. yards situated at Station Road, Jalori Gate, Jodhpur, Rajasthan from Adeshwar & Company at a purchase consideration of Rs 48,60,00,000 (Rupees forty Eight crores Sixty lacs) with the object to construct a Commercial Mall at the said property in the name and style of "ATLANTA V MALL".

| Comments (0)

ADB Loans India $500M to Promote Public-Private Partnership Infrastructure Projects | INRnews

New Delhi, India, December 14, 2007 - The Asian Development Bank (ADB) will provide India with up to $500 million in loans designed to promote public-private partnerships between the government and private sector in order to ramp up investments in infrastructure.

| Comments (0)

SEZ policy plays a very crucial role in the inclusive growth of nation’s Economy | INRnews

Jaipur, India, December 14, 2007 - Describing the success of the SEZs in India, Mr Anil Mukim, Joint Secretary, Ministry of Commerce and Industry, Govt of India said that the response from Indian SEZs has been tremendous. The Government has already formally approved 404 SEZs, of which 172 have been notified. About 60 of these have already generated direct employment of about 52,000 and indirect employment of 1,00,000. With growth likely to be exponential, these numbers could shoot up to 150,000 by March 2008 and to 600,000 by the end of 2009. He also expected the foreign direct investment in SEZs to increase 3-4 fold within the next year. He added that from the government’s perspective, SEZs have been a success. He was speaking at the inaugural session of Conference on SEZ organised by CII.

| Comments (0)

December 13, 2007

Parsvnath Developers opens bookings for Parsvnath Prideasia in Chandigarh | INRnews

Chandigarh, India, December 13, 2007 - Encouraged by successful launch of first scheme Parsvnath PRIDEASIA, a premium township in Chandigarh, Parsvnath Developers Ltd now announces launch of second scheme for further bookings in the prestigious township.

| Comments (0)

DIAL launches Delhi airport website | INRnews

New Delhi, India, December 13, 2007 -  GMR Infrastructure Ltd has announced that Delhi International Airport Pvt Ltd (DIAL), a subsidiary of the Company, launches Phase II of Delhi Airport's Website with added new features to provide additional information to passengers.

| Comments (0)

Banks, Fls buy 9% in GMR Infra for $1 billion | INRnews

Mumbai, India, December 13, 2007 - A CLUTCH of domestic banks and foreign financial investors has picked up around 9% stake in GMR Infrastructure, the flagship company of GMR Group, for around $1 billion, through a qualified institutional placement (QIP) the largest among such recent deals.

| Comments (0)

‘HomeTown’ – home making store from the Future Group, comes to Pune | INRnews

Pune, India, December 13, 2007 - Home Solutions Retail (India) Ltd., a part of the Future Group, today, announced the launch of ‘HomeTown’, India’s most comprehensive home making/ home improvement store, at ‘Ishanya’, Arcade 1, Shastri nagar, Yerawada, Pune. ‘Ishanya’, an architectural wonder in itself, is a retail destination completely focused on home making and design. Spread over an area of about 1,50,000 sq.ft., HomeTown will provide consumers with all that goes into building a house and everything to make it a ‘Home’. HomeTown offers consumers largest choice and variety under one roof and a specialized team of experts to set it all up for them at their homes. In addition to retailing home improvement products, HomeTown will also provide services like electrical, plumbing, interior decoration, painting, etc. HomeTown will also have counters by Future Money, where consumers can avail of fast & easy finance on their purchases at HomeTown.

| Comments (0)

50 years of the Delhi Development Authority | INRnews

New Delhi, India, December 13, 2007 - Following is the text of the President, Smt. Pratibha Devisingh Patil's address at the Release of the Commemorative First Day Cover with Cancellation on the occasion of the completion of 50 years of the Delhi Development Authority, at Rashtrapati Bhavan on December 13, 2007:

| Comments (0)

Red Fort Capital to float domestic realty fund | INRnews

New Delhi, India, December 13, 2007 - New Delhi-based realty funding company Red Fort Capital Advisors Pvt Ltd will float a Rs.8-billion fund to finance real estate development projects in India.

| Comments (0)

PPP must for the success of MRTS | INRnews

New Delhi, India, December 13, 2007 - Mass Rapid Transport System needs effective public private partnerships to modernize intra-city mobility, said Mr Gajendra Haldea, Advisor, Infrastructure, Planning Commission.

| Comments (0)

December 12, 2007

GMR Infrastructure Limited QIP Issue Oversubscribed | INRnews

New Delhi, India, December 12, 2007 - GMR Infrastructure Limited approved the issue of 165,238,088 equity shares of Rs 2/- each at the Issue Price of Rs. 240 per equity share aggregating to an Issue size of Rs. 39,657.1 million under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the “SEBI Guidelines”). The Issue Price is above the floor price calculated in accordance with clause 13A.3 of the SEBI Guidelines. Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, JM Financial Consultants Private Limited, J.P Morgan India Private Limited, Lehman Brothers Securities Private Limited, UBS Securities India Private Limited acted as the Global Coordinators and Book Running Lead Managers for the Issue.

| Comments (0)

Ashiana to build Rs 1 billion retirement resort in Jaipur | INRnews

Jaipur, India, December 12, 2007 - Real estate company Ashiana Group is building a retirement resort called 'Ashiana Utsav' here, expected to cost Rs.1 billion, said a company official.

| Comments (0)

Red Fort Capital to invest $100 million in Chennai real estate projects | INRnews

Chennai, India, December 12, 2007 - Red Fort Capital, one of India's leading international private equity real estate firms, will be investing $100 million in Chennai over a period of six months. The investment will be across low to high end residential and hospitality projects. Red Fort Capital has kicked off its activities in Chennai by acquiring residential land in close proximity to Ambattur, an emerging IT hub.

| Comments (0)

Low cost housing offers huge opportunities for real estate industry | INRnews

Chennai, India, December 12, 2007 - “The Indian organised real estate players should tap the growing market represented by people from economically weaker section - EWS segment - that constitutes 50% of the estimated housing demand of 25 million units or 12,417 million square feet, which translates into 41% of the total market value of Rs.21,942 billion,” said Mr Amit Bagaria, Chief Executive Officer, Asipac, a leading project consulting and marketing company in the real estate sector.

| Comments (0)

Real estate sector should aim for inclusive growth and sustainable development | INRNews

Chennai, India, December 12, 2007 - “The real estate sector in India is facing the challenge of ensuring inclusive growth, while taking up large scale projects with a futuristic vision and inbuilt support systems for energy, environment and water conservation. The private sector should make use of opportunities in public private partnerships in infrastructure development,” said Mr L K Tripathy, IAS, Chief Secretary, Government of Tamil Nadu. He announced that the first phase of Chennai - Siruseri IT Corridor covering the first 20 kms is expected to be ready by June, 2008

| Comments (0)

December 07, 2007

Parsvnath Developers awarded construction contract in Uttar Pradesh | INRnews

New Delhi, India, December 07, 2007 - Parsvnath Developers Ltd has announced that the Company has been awarded a contract for construction and development of Footwear Design & Development Institute at Fursatganj, Rae bareli, Uttar Pradesh (FDDI) by FDDI, Ministry of Commerce, Government of India, A-10A, Sector 24, Noida — 201 301 worth Rs 47 Crores, approximately and the scheduled date of completion would be end November, 2008.

| Comments (0)

DIAL to raise loans aggregating Rs 4940 crore | INRnews

New Delhi, India, December 07, 2007 -  Delhi International Airport (P) Ltd (DIAL) a Public Private Partnership Initiative mandated to modernize and restructure Indira Gandhi International Airport, New Delhi has signed key financing documents with its project lenders for Rs. 3,650 Crore and foreign currency loan of USD 350 Million for modernization and expansion of Indira Gandhi International Airport, New Delhi.

| Comments (0)

Housing policy sets goal of affordable housing for all | INRnews

New Delhi, India, December 07, 2007 - The National Urban  Housing & Habitat Policy 2007 seeks  to promote  various types of public-private partnerships for realizing the goal of “ Affordable Housing For All’  with special emphasis on the urban poor. This was stated by  Kumari Selja  the Minister of State for Housing & Urban Poverty Alleviation, while briefing the media persons,  after tabling the Policy in  both houses of the Parliament  here today. The Minister said that the new Policy has been formulated keeping in view   the   changing   socio-economic parameters  of the urban area and growing requirement of shelter and   related  infrastructure.

| Comments (0)

Shortage of land in Delhi for residential development | INRnews

New Delhi, India, December 07, 2007 - The Delhi Development Authority (DDA) has reported that in Master Plan of Delhi-2021 (MPD 2021), it has been estimated to accommodate 230 lakhs of projected population by 2021 for which the additional requirement of urban extension would be 20,000 to 22,000 ha. of urbanisable land within development time-frame of 15-16 years.

| Comments (0)

Energy Sector requires $500 billion worth of investment during the 11th five year plan period | INRnews

Ahmedabad, India, December 07, 2007 - The Indian power sector group companies have achieved 154 percent growth in market capitalization indicating phenomenal amount of investor's confidence said Chief Guest, Mr R V Shahi, Former Secretary, Ministry of Power, Government of India, while addressing at India Energy Conclave 2007, organized  concurrent with  3 day long 3rd International Exhibition – "Energy Expo 2007"  by CII in Ahmedabad

| Comments (0)

December 06, 2007

Technical group on estimation of urban housing shortage |INRnews

New Delhi, India, December 06, 2007 - A Technical Group on Estimation of Urban Housing Shortage was constituted by the Central Government. The Group estimated a housing shortage of 24.71 million dwelling units at the end of the Tenth Five Year Plan. The Technical Group has estimated the total Housing shortage during the entire 11th Five Year Plan as 26.53 million dwelling units. This information was given by the Minister of State for Housing & Urban Poverty Alleviation, Kumari Selja in the Rajya Sabha today, in a written reply to a question by Smt. Supriya Sule.

| Comments (0)

December 05, 2007

Parsvnath wins bid to develop commercial mall at Greater Noida | INRnews

Noida, India, December 05, 2007 - Parsvnath Developers Ltd has announced that the Company has won the bid to develop a commercial project on 18632 sq. mt. of land at Sector Delta-II in Greater Noida. The estimated cost of the project to the Company including land would be Rs 160 crore. The saleable area would be approximately 3.6 lac sq ft. with expected revenues over 300 crores spread over next 3 financial years, which would add to Company's topline and bottomline.

| Comments (0)

Future Group opens the first ‘Staples’ store in India | INRnews

Bangalore, December 05, 2007:  Future Group, the licensee of ‘Staples’ for India, today announced the launch of its first ‘Staples’ store in India, retailing over 700 products and carrying the entire gamut of technology and stationery assortment with the aim to make it easy for customers to run their offices. The new store has an area of about 15,000 sq.ft., spread  across two levels and is situated at Marathalli, Bangalore.

| Comments (0)

Ishaan Real Estate PLC half year report | INRnews

Mumbai, India, December 05, 2007 - Ishaan Real Estate plc has released an interim report for the six months ended 30 September 2007. The key highlight is completion of 100% of investment in the initial portfolio with £133.2 million invested in eight projects across Mumbai, Hyderabad, Pune and Bangalore.

| Comments (0)

December 04, 2007

India will rein in runaway cement prices: minister | INRnews

New Delhi, India, December 04, 2007 - The government will not allow cartelisation of cement prices and will take necessary measures to control them, Minister of State for Industries Ashwani Kumar said Tuesday.

| Comments (0)

Government to open 2,50,000 vocational schools in next 5 years | INRnews

New Delhi, India, December 04, 2007 - 2,50,000 vocational schools will be opened in India in next five years in Public – Private – Partnership (PPP), where corporate sector will play a major role, said Mr. N. K. Singh, Deputy Chairman, Planning Commission, Government of Bihar at the India Economic Summit 2007, organised jointly by the Confederation of Indian Industry (CII) and the World Economic Forum (WEF), here on Tuesday. He further said that the initiative will be a significant measure to take advantage of the demographic dividend of India and develop quality manpower for the global requirement.

| Comments (0)

Policies to attract investment in infrastructure are in place | INRnews

New Delhi, India, December 04, 2007 | Speaking at a session on 10% Growth: The Infrastructure Picture at the India Economic Summit on Tuesday, Mr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, India said now that the policies to attract private sector investment in infrastructure are in place, the scale of activity needs to increase.

| Comments (0)

J Kumar Infraprojects to enter capital market | INRnews

Mumbai, India, December 04, 2007 - J. Kumar Infraprojects Limited (the "Company"), an ISO 9001:2000 certified civil engineering and infrastructure development company with a primary focus on development of roads, flyovers, bridges, railway over bridges, irrigation projects, commercial and residential buildings, railway buildings, sports complexes and airport runways, has filed its Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI"). It will enter the capital market soon with an Initial Public Offering ("IPO") of 65,00,000 equity shares of Rs 10 each for cash at a price ("Equity Shares") to be decided through a 100% book-building process.

| Comments (0)

Prudential Financial & DLF Ltd form Asset Management JV | INRnews

New Delhi, India, December 04, 2007 - U.S.-based Prudential Financial, Inc (PFI) and the DLF Group, India's largest real estate developer, today announced that they have signed an agreement to establish a joint venture company in India, subject to regulatory approval.  PFI, the financial services leader with approximately $637 billion of assets under management as of September 30, 2007, was the world's 14th largest institutional asset manager based on worldwide assets under management, as ranked by Pensions & Investments, US trade publication, as of Dec 31st, 2006.

| Comments (0)

December 03, 2007

Cinemax launches Cinemax Gandhinagar | INRnews

Gandhinagar, India, December 03, 2007 - Cinemax, the leading multiplex chain in India, celebrated this festive season with great pomp and style as it launched a four screen multiplex at Gandhinagar on 1 December, 07. The luxurious property opened its plush and high tech interiors with the biggest releases of the year "Aaja Nachale", "Om Shanti Om" and "Goal". The celebration and excitement went up a level higher, as none other than the Bollywood hunk – John Abraham inaugurated the new property to set the multiplex functioning!

| Comments (0)

The Taj Group launches Gateway Hotel in Vijayawada | INRnews

Vijayawada, India, December 03, 2007 - Taj Hotels Resorts and Palaces, today unveiled a new Gateway Hotel at Vijayawada. Conveniently located on MG Road, the Hotel is easily accessible from the railway station and the airport. Extremely stylish and modern, The Gateway Hotel, MG Road, Vijayawada is clearly the best option in the city for the business traveler. The hotel offers the largest room size in the city and combines the full suite of contemporary facilities to make every customers stay a refreshingly enjoyable experience.

| Comments (0)

Infrastructure not the only impediment to Building Centres of Excellence | INRnews

New Delhi, India, December 03, 2007 - Though infrastructure of the bricks and mortar kind is a key issue it is not the only impediment to building Centres of Excellence in India. This was the central theme of the panel discussion on Building Centres of Excellence: A Global Approach at the India Economic Summit, 2007 organized jointly by Confederation of Indian Industry and World Economic Forum in New Delhi. Outlining the impediments to building Centres of Excellence, which serve as visible signs of progress, Mr. Nandan M.Nilekani, Executive Co Chairman, Infosys Technologies, India and Member of the Foundation Board of the World Economic Forum said, I would characterize the impediments as three separate problems – lack of infrastructure, neglect of urbanization and a fragmented market within the country. He said that while India had succeeded in building a functional democracy, it has so far failed at the seemingly easier task of building roads and other infrastructure.

| Comments (0)

SEZs have been a success: G K Pillai | INRnews

New Delhi, India, December 03, 2007 - Describing the success of the SEZs in India, Mr Gopal Krishna Pillai, Secretary of Commerce, Ministry of Commerce and Industry, India said that the response from Indian SEZs has been tremendous. The Government has already formally approved 404 SEZs, of which 172 have been notified. About 60 of these have already generated direct employment of about 52,000 and indirect employment of 1,00,000. With growth likely to be exponential, these numbers could shoot up to 150,000 by March 2008 and to 600,000 by the end of 2009. He also expected the foreign direct investment in SEZs to increase 3-4 fold within the next year. He added that from the government’s perspective, SEZs have been a success.

| Comments (0)

November 30, 2007

JLLM head on Maharashtra's scrapping of the Urban Land Ceiling Act | INRnews

Mumbai, India, November 30, 2007 - The Central Government had not considered states like Maharashtra and Andhra Pradesh when it repealed the ULCRA in other states like Gujarat, Karnataka and Punjab. It had its reasons, but it became evident that the ULCRA rendered valuable land useless for all practical purposes. In India, land constitutes approximately 50% of the price of real estate.

| Comments (0)

Omaxe forays into SEZ development | INRnews

New Delhi, India, November 30, 2007 - Omaxe, one of India’s leading real estate companies with footprints in 30 towns and 9 states today announced its foray into development of Special Economic Zone (SEZ) by signing Memorandum of Understanding (MoU) with the Government of Rajasthan to develop a multi product SEZ in District Alwar of Rajasthan spread over the area of 5000 hectare.

| Comments (0)

November 29, 2007

Regularisation of unauthorised colonies in Delhi | INRnews

New Delhi, India, November 29, 2007 - The revised guidelines for regularization of unauthorized colonies in Delhi have been finalized by the Government. A copy of the revised guidelines has been sent to Government of NCT of Delhi (GNCTD) and Delhi Development Authority (DDA) for taking necessary preparatory steps. GNCTD has informed that it has issued public notice in leading newspapers inviting lay-out plan and other information from resident associations/resident societies. However, guidelines and modalities have to be brought before the Hon'ble Supreme Court & High Court.

| Comments (0)

Housing facilities for commonwealth games | INRnews

New Delhi, India, November 29, 2007 - The Minister of Tourism and Culture Smt. Ambika Soni has said that construction of hotels is primarily a private sector activity and the Ministry of Tourism extends facilitation. However, Ministry of Tourism has been in regular touch with the various land owning agencies like Ministry of Civil Aviation, DDA, Ministry of Urban Development and State Land Owning Agencies etc. for identifying hotel sites in view of the forthcoming Commonwealth Games 2010. Ministry of Tourism has also floated schemes like the approval of Guest Houses and Incredible India Bed and Breakfast establishments for increasing the room inventory in Delhi and the NCR especially in the budget category.

| Comments (0)

Vatika group gets $250 million foreign investment | INRnews

Mumbai, India, November 29, 2007 - Leading realty and hospitality group Vatika Thursday said here that it had signed an agreement with global investment bank Goldman Sach, US-based private equity investors Wachovia Bank and Baer Capital for an investment of $250 million for new acquisitions and projects across the country.

| Comments (0)

AMD osets up new R&D facility in Bangalore | INRnews

Bangalore, India, November 29, 2007 - AMD, a leading global provider of innovative processing solutions in the computing, graphics and consumer electronics markets, today announced the opening of a new silicon design and platform research and development (R&D) facility in Bangalore.

| Comments (0)

3i India Infra Fund to invest US$101m in Soma Enterprise | INRnews

Hyderabad, India, November 29, 2007 - 3i India Infrastructure Fund (the “Fund”), an investment fund established by 3i Group plc (“3i”), a leading global private equity and venture capital company, has invested US$101 million for a minority stake in Soma Enterprise Limited (“Soma”), a Hyderabad-based engineering and construction firm. Company director Ankineedu Maganti and his family will maintain a large majority stake in the business.

| Comments (0)

November 28, 2007

Global capital finds investment in Indian real estate lucrative | INRnews

New Delhi, India, November 28, 2007 - Investment transactions world-wide have hit a record high of $600bn in 2006 confirming the insatiable appetite from investors for real estate. The real estate market is still characterised by a surplus of capital says real estate services firm DTZ. As per DTZ estimates, at present there is $4 of capital chasing every $1 of investment product. Ambar Maheshwari, director of DTZ's investment advisory team in India says: “The corresponding ratio of capital chasing investment product in India is even more startling and is anywhere between $8 to $1 and $10 to $1. The growth momentum in the Indian real estate capital so far is remarkable, especially in the private equity and debt markets.”

| Comments (0)

November 27, 2007

Adrian Zecha & DLF partner to acquire AMAN Resorts | INRnews

New Delhi, India, November 27, 2007 - DLF Ltd has announced that Adrian Zecha, Founder and Chairman of Aman Resorts announced that he has formed an equal partnership with the Company, which has entered into definitive agreements to acquire a controlling interest in the Aman Resorts group. The entire transaction, when completed, is estimated to be valued at US$ 400 million with an assumed debt of approximately $ 150 million.

| Comments (0)

Rs 817 crore project to augment water supply in Hyderabad approved | INRnews

New Delhi, India, November 27, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for the Krishna Drinking Water Supply Project Phase-II for augmentation of water supply in Hyderabad city at a cost of Rs.817.62 crore. The expenditure incurred up to 31.03.2006 on the project is Rs.211.12 crore. Therefore, the cost for reimbursement under JNNURM will Rs.606.50 crore and release of Additional Central Assistance to the extent of Rs.212.275 crore being the share of the Government of India, in the manner prescribed under the guidelines.

| Comments (0)

MIAL awards contract to DFS Group for duty free retail | INRnews

Mumbai, India, November 27, 2007 - Mumbai International Airport Private Limited (MIAL) today awarded the duty free retail contract for Chhatrapati Shivaji International Airport (CSIA), Mumbai to DFS Group Limited.

| Comments (0)

November 26, 2007

Bata India revamps its retail strategy | INRnews

Mumbai, India, November 26, 2007 - India’s leading footwear retailer Bata India Ltd. is all set to redefine footwear retailing! The only footwear retailer with more than 1100 outlets, the company has opened 70 all new international look outlets across India in the last 10 months. These include Flagship Stores in Bangalore & Trivandrun, City Stores and Superstores in Coimbatore, Hyderabad, Thane, Delhi & Ghaziabad and Family Stores in Delhi, Ludhiana & Nasik.

| Comments (0)

SVP Builders launches Gulmohur Gardens in Ghaziabad | INRnews

Ghaziabad, India, November 26, 2007 - SVP Builders India Ltd., a 2000-crore real-estate development company based out of national Capital Region, today announced the launch of 'Gulmohur Gardens', a sprawling residential complex, with a targeted revenue of INR  200Crores (US$ 50 million), from 700 dwellings. Gulmohur Gardens is located on NH- 58 next to Raj Nagar, with close proximity to prominent colleges and schools like DPS, INGRAHAM MICRO, R K Engineering College, IMT Ghaziabad.

| Comments (0)

November 24, 2007

Simplex Infra bags Rs 580cr worth ICTT project at Kochi | INRnews

Kochi, India, November 24, 2007 - Simplex Infrastructures Ltd., one of India’s leading infrastructure solutions providers, today, has been awarded the largest marine project, ICTT Kochi Phase 1A Civil Works, at Kochi by DP World. The project is worth Rs. 580 crore and is proposed to be completed within a period of 24 months.

| Comments (0)

MphasiS opens BPO facility in Indore | INRnews

Indore, India, November 24, 2007 - MphasiS and Idea today jointly announced the inauguration of a new BPO facility in Indore. MphasiS will provide contact centre services to Idea Cellular. This is the fifth MphasiS BPO facility that caters exclusively to the domestic BPO space, the other four being Ahmedabad, Bangalore, Noida and Puducherry.

| Comments (0)

November 23, 2007

Cordea Savills, Nichani Group launch real estate fund mgmnt | INRnews

Mumbai, India, November 23, 2007 - Cordea Savills, an international property fund manager, and the Nichani Group, an established Indian family business, have today launched a joint venture, which will provide fund products that will give investors access to one of the world’s largest and fastest growing economies. The joint venture’s first product is Cordea Nichani Indian Opportunities No.1, which offers access to land and development opportunities in high growth regions of India targeting net returns of 25% per annum.

| Comments (0)

India needs $475 bn infrastructure investment in five years to support growth | INRnews

New Delhi, India, November 23, 2007 - India needs an investment of $ 475 billion in infrastructure in the next five years to support 9% growth of which $120 – 130 billion of the investment requirement would come from foreign investment, said Mr. P Chidambaram, Union Minister of Finance, at  an interactive session with Mr. Arni Mathiesen, Minister of Finance, Iceland, organised by the Confederation of Indian Industry (CII), here on Friday.

| Comments (0)

Kalpataru launches Kalpataru Gardens Phase II | INRnews

Mumbai, India, November 23, 2007 - Situated in the heart of Suburban Mumbai, Kalpataru Gardens Phase II is yet another well designed and modern residential project of Kalpataru Properties Pvt.Ltd – a haven of luxurious space and sunshine, surrounded by true natural beauty.  It is conveniently located at Kandivali, East 15 minutes away from Western Express Highway; 10 minute distance to Kandivali station and also in close proximity to leading educational institutions, malls and multiplexes.

| Comments (0)

New Delhi HQ for DTZ | INRnews

New Delhi, India, November 23, 2007 - Global real estate adviser DTZ is relocating its Delhi HQ to a new, fully fitted-out office space located at Incube, Nehru Place with effect from 26 November 2007.

| Comments (0)

November 22, 2007

CREDAI announces NATCON 2008 | INRnews

New Delhi, India, November 22, 2007 - CREDAI (Confederation of Real Estate Developers’ Associations of India) today announced the 7th National Real Estate convention, NATCON 2008. The convention which would be held from January 7 – 9, 2008 at Hotel Ashok, New Delhi has “Real Estate for all” as its theme this year.

| Comments (0)

Kolkata office and retail real estate on growth path | INRnews

Kolkata, India, November 22, 2007 - Kolkata has all the ingredients for high growth in its real estate market, according to real estate services firm Jones Lang LaSalle Meghraj (JLLM). One of the oldest urban agglomerations in the country, Kolkata lost its position as the erstwhile commercial capital of India to Mumbai due to the socialist manifesto adopted by the West Bengal government post-independence. Now JLLM believes the state is witnessing a resurgence driven by government policy and support for the service industry and infrastructure development that is once again attracting industry and capital to the city.

| Comments (0)

Assocham to hold conference on urban land markets & finances reforms | INRnews

New Delhi, India, November 22, 2007 - ASSOCHAM is organizing a one day conference on the theme “Urban Land Markets & Finances : The Legal, Financial & Procedural Reforms” on 28th November, 2007 at Hotel Intercontinental The Grand, New Delhi.  28th November 2007, Intercontinental The Grand, Barakhamba Avenue, New Delhi

| Comments (0)

Land plots to be auctioned in Visakhapatnam | INRnews

Visakhapatnam, India, November 22, 2007 - On behalf of the District Collector, Visakhapatnam, VUDA invites bids to dispose off Bulk Land Plots ranging from 3.00 Acres to 10.00 Acres in Madhurawada area and 27.00 Acres Plot in Paradesipalem in the limits of Greater Visakhapatnam Municipal Corporation (GVMC) through OPEN AUCTION cum SEALED TENDERS at VUDA Children Theatre (A/c Auditorium), Visakhapatnam from 10.00 A.M onwards on 5th December 2007.

| Comments (0)

Retail space in Kolkata heating up | INRnews

Kolkata, India, November 22, 2007 - The retail space in Kolkata is heating up with over 17 new malls to come up in the city within two years with an additional 5.5 million sq ft of retail space.

| Comments (0)

London, Mumbai top list of world's most expensive office markets | INRnews

Mumbai, India, November 22, 2007 - London’s West End, Mumbai, the City of London and Moscow are the top four most expensive office markets in the world, according to CB Richard Ellis Research’s semi-annual Global Market Rents survey. The report tracks the world’s most expensive markets as well as markets with the fastest growing rents over the past 12 months.

| Comments (0)

November 20, 2007

DLF invites Private Equity players to its middle income homes business | INRnews

New Delhi, India, November 20, 2007 - DLF Ltd has announced that the Company has attracted participation of private equity real estate funds in its township projects by diluting 49% equity stake at a premium, in seven residential projects to a Merrill Lynch & Co entity for a consideration of Rs 1481 crore.

| Comments (1)

Gulf Finance House to invest over US$ 2 billion in Mumbai | INRnews

Mumbai, India, November 20, 2007 - Bahrain-based Gulf Finance House (GFH) is investing over US$ 2 billion in a green field site close to Navi Mumbai, near to the commercial capital's airport. GFH has already raised US$ 630 million towards the initial development and infrastructure requirements of the project.

| Comments (0)

ADB helping India promote PPP in infrastructure | INRnews

Mumbai, India, November 20, 2007 - The Asian Development Bank (ADB) is providing a $2 million grant to help the government of India increase cooperation between the public and private sectors in infrastructure development.

| Comments (0)

Vipul to invest Rs 13,000 crore on real estate projects | INRnews

Gurgaon, India, November 20, 2007 -  Real estate developer Vipul Ltd plans to invest Rs 13,000 crore in the next five years to expand from its base in North India to other markets in the country.  The major investment will go towards developing its existing land bank.

| Comments (0)

GTC Industries to develop real estate assets | INRnews

Hyderabad, India, November 20, 2007 - GTC Industries has announced that it is planning to explore the possibility of doing real estate development in which context it has already signed a Development Agreement for its Hyderabad property.

| Comments (0)

Twilight Litaka mulls plans for land in Pune district | INRnews

Mumbai, India, November 20, 2007 - Twilight Litaka Pharma Ltd has announced that the Company is frequently receiving questions regarding sale of its land at Vadgaon Maval. The Company therefore feel the necessity to clarify this issue to its Shareholders and prospective investors.

| Comments (0)

3i Infotech announces major expansion plans in Chennai | INRnews

Chennai, India, November 20, 2007 - 3i Infotech Ltd has announced that the Company recently unveiled its expansion plans in Chennai. The Company announced the launch of its first International Data Centre (IDC), which will offer managed hosting services for application and disaster recovery solutions.

| Comments (0)

Dewan Housing to take 19.9% stake in Wadhawan Food Retail | INRnews

Mumbai, India, November 20, 2007 - The Board of Directors of Dewan Housing Finance Corporation Ltd  (DHFL), the second largest housing finance company in the private sector in India, today announced the approval of 19.90 % stake at par value of Rs 10/- each in the equity shares of Wadhawan Food Retail Private Limited (WFRL).

| Comments (0)

Nagarjuna Construction consortium to develop Gulbarga and Shimoga airports in Karnataka | INRnews

Bangalore, November 20, 2007 - Nagarjuna Construction Company Ltd has announced that Infrastructure Development Department, Government of Karnataka, has selected a consortium of Maytas Infra Ltd (Maytas), NCC Infrastructure Holdings Ltd., (A 100% subsidiary of the Company) and VIE India Project Development and Holding LLC (VIE) to develop and operate airport proposed at Gulbarga and Shimoga on BOT basis.

| Comments (0)

Leighton International appoints President of its Indian operations | INRnews

New Delhi, India, November 20, 2007 - Leighton International has announced the appointment of Vineet Mohan as President of its operations in India.

| Comments (0)

Propmart and City Green Farms Launch Integrated Township Project in Bangalore | INRnews

Bangalore, India, November 20, 2007 - An integrated township over 300 acres will come up over the next two years at Chikkaballapura, 55 km from Bangalore. This project, is being developed by the city-based real estate consultancy firm Propmart as a joint venture with Citi Green Farms.

| Comments (1)

Kolkata based real estate developer Merlin Group to invest Rs 2,000 crore in the state | INRnews

Kolkata, India, November 20, 2007 - Kolkata-based real estate developer  Merlin Group is to invest around Rs 2,000 crore by 2010 to create industrial infrastructure, commercial and residential real estate projects in West Bengal.

| Comments (0)

November 19, 2007

Deutsche Bank Urban Age Award given to 2 Mumbai city projects | INRnews

Mumbai, India, November 19, 2007 - Dr. Josef Ackermann, CEO of Deutsche Bank is pleased to announce the winners of the first Deutsche Bank Urban Age Award (DBUA) in the presence of the German Chancellor, Dr. Angela Merkel and SM Krishna, Governor of Maharashtra. The announcement follows a unanimous decision by an international jury. The award of $100,000 will be split between two high level projects: the Triratana Prerana Mandal initiative and the Mumbai Waterfronts Development Centre, with a special Commendation for the Urban Design Research Institute’s Fort Management Project.

| Comments (0)

Dow India establishing Global R&D Centre in Chakan, Pune | INRnews

Pune, India, November 19, 2007 - Dow India has signed an MOU with the Government of Maharashtra to set up a Global R&D centre at Chakan, Pune.The Centre is expected to be operational by 2008 and will employ 500 researchers by 2010.  Initial project related activities are underway on the 100 acre land allotted to the Company by MIDC and more than 125 researchers are already employed and providing their talented skills and capabilities, operating in a rented facility.

| Comments (0)

REC to develop world headquarters in Gurgaon | INRnews

Gurgaon, India, November 13, 2007 - REC had floated a Global Architectural Competition for designing its World Headquarters for office (4 acres) and residential township (10 acres) in Gurgaon.  After two rounds of discussion, the Jury consisting of Shri Satish Gujral, world famous painter, sculptor and architect, Mr. K.T. Ravindran, Director of School of Planning and Architecture and Mr. A. G. K. Menon, Director of TVB School of Studies declared M/s Chelsea West of New York, USA and Sanjay Prakash & Associates of New Delhi as the winner.  The building is expected to be ready by 2010.

| Comments (0)

Cisco opens 1 million sq ft campus in Sarjapur, Bangalore | INRnews

Bangalore, India, November 19, 2007 - Cisco has opened a state-of-the-art Globalisation Centre East campus in Bangalore. The opening ceremony on Nov 13 was presided over by former Indian President Dr. A P J Abdul Kalam and John Chambers, Cisco Chairman & CEO. 

| Comments (0)

Donald Trump Jr inaugurates Cityscape India | INRnews

Mumbai, India,  November 19, 2007 - Donald Trump Jr. urges developers to think 'Location, location, brand' when trying to attract international investors during Mumbai launch of world's largest B2B real estate brand.

| Comments (0)

Columbia Asia and DLF form alliance to develop hospitals in India | INRnews

New Delhi, India, November 19, 2007 - The international headquarters of the Columbia Asia Group of Hospitals, based in Kuala Lumpur, has announced that its Indian subsidiary, Columbia Asia Hospitals Pvt Ltd, has entered into an agreement that forms an alliance for the development of hospitals with DLF Home Developers Ltd (DLFH).

| Comments (0)

Tech Mahindra sets-up Rs 200 crore campus in Chandigarh | INRnews

Chandigarh, India, November 19, 2007 - Tech Mahindra, one of the largest IT services and Telecom solutions providers for global telecom companies has announced the setting up of a state-of-the-art software development center at Chandigarh. This integrated campus at the Rajiv Gandhi Technology Park will be built on 15 acres of land and seat 5000 professionals.

| Comments (0)

Piramal Enterprises floats realty JV with Sunteck | INRnews

Mumbai, India, November 19, 2007 - Piramal Enterprises Ltd (Ajay Piramal Group) has announced its realty joint venture (JV) with Sunteck Realty and Infrastructure Ltd.

| Comments (0)

Chettinad Health City opened at Kelambakkam, Chennai | INRnews

Chennai, India, November 19, 2007 - The first phase of the Rs. 500 Crore Chettinad Health City (CHC) at Kelambakkam, Chennai was inaugurated by Dr. Kalaignar M Karunanidhi, Hon'ble Chief Minister of Tamil Nadu last week.

| Comments (0)

Fiat India sells 53 acre Kurla property to IKG Associates | INRnews

Mumbai, India, November 19, 2007 - Fiat India Pvt Ltd, in continuance of its process of restructuring and consolidation of its operations in India, has announced the sale of its 53-acre Kurla property to IKG Associates, an IL&FS affiliated entity for Rs. 608 Crores (Rupees Six Hundred and Eight Crores). The company operations have completely shifted to Ranjangaon, near Pune in Maharashtra, a facility measuring about 200 acres.

| Comments (0)

Uppal Group to launch mall in Jagadhari, District Yamunanagar, Haryana | INRnews

New Delhi, India, November 19, 2007 - Uppal Group, which has over 28 years of experience of delivering more than 500 quality projects with presence in all real estate verticals, has announced its entry into the retail sphere of Haryana through the launch of “Centra Mall” in Jagadhari, District Yamunanagar, Haryana.

| Comments (0)

RPS Group to launch IT Park in Faridabad | INRnews

Faridabad, India, November 19, 2007 - The RPS Group is to develop an IT Park in Faridabad, on NH-2, Mathura Road with a distance of just 1 km from the Badarpur Border, Delhi. The site is located close to two international airports - Indira Gandhi International Airport & the proposed International Airport at Jevar. 

| Comments (0)

Ishaan invests in 4.5 million sq ft of commercial development space in India | INRnews

Navi Mumbai, India, November 19, 2007 - Ishaan Real Estate plc today announces that it has concluded its investment in an IT SEZ (Special Economic Zone) in Navi Mumbai, on which a development of up to 4.5 million sq ft of commercial space is planned.

| Comments (0)

November 17, 2007

Real estate developer Prestige Group buys prime Chennai property | INRnews

Chennai, India, November 17, 2007 - Bangalore-based real estate developer, Prestige Group, has purchased a 2.8-acre prime property on Chennai's high street - Anna Salai.

| Comments (1)

Average home buyers age in India comes down by 20 years | INRnews

Mumbai, India, November 17, 2007 - The average age of home buyers in India has come down by nearly 20 years according to The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

| Comments (0)

E-City Ventures launches Talkie Town movie theatres nationally | INRnews

Mumbai, India, November 17, 2007 - E-City Ventures, the corporate arm representing various interests in the cinema exhibition business of the Essel Group, has today announced the National launch of its value cinema exhibition brand Talkie Town. With existing properties in Gulburga, a 4 screen multiplex (previously called Fun Junction) and its second property in Hyderabad (which opened on November 9th), E-City Ventures aims to solidify and strengthen the cinema exhibition infrastructure in the hinterlands of India.

| Comments (0)

Lacoste launches store in South Extension, Delhi | INRnews

New Delhi, India, November 17, 2007 - Premium French Lifestyle brand, Lacoste, announced the launch of its latest Flagship Boutique at South Extension Part II, Delhi. With the launch of its flagship boutique the French Lifestyle brand aims to redefine the retail landscape in India. The store has been designed by Christophe Pillet and is spread over 7000 sq ft. The company has invested $1 million in this boutique.

| Comments (0)

Home loans now slightly cheaper | INRnews

Mumbai, India, November 17, 2007 - In addition to festival offers by banks on new home loans, some lenders are taking down interest rates a notch.Mumbai, India, November 15, 2007 - In addition to festival offers by banks on new home loans, some lenders are taking down interest rates a notch.

| Comments (0)

November 16, 2007

ICICI Prudential MF launches Real Estate Securities Fund | INRnews

Mumbai, India, November 16, 2007 - ICICI Prudential AMC today announced the launch of ICICI Prudential Real Estate Securities Fund (The scheme will not be directly owning or holding Real estate properties.). The fund is a 3 year close ended debt fund designed to invest in real estate sector and real estate oriented sectors like cement, construction, metals, hotels, retail, banks and finance companies etc.

| Comments (0)

November 15, 2007

Indian real estate major DLF to buy Amanresorts for $250 million | INRnews

New Delhi, India, November 15, 2007 - In another example of the growing interest of Indian companies in overseas acquisitions, real estate major DLF Ltd is reported to be close to an acquisiton of Singapore-based luxury chain Amanresorts for US$250 million.

| Comments (0)

Study shows second homes and vacation homes gaining traction in India | INRnews

Bangalore, India, November 15, 2007 - A study conducted by Kapston.com an E-business consulting firm in India with second home companies HolidayHangouts.com, S & S properties, Wayanad Weekend Homes and Principal Gain along with real estate agents and buyers, shows second home and holiday homes market gaining significant traction in India.

| Comments (0)

Pearls Infrastructure high-end housing in Zirakpur, Punjab | INRnews

New Delhi, India, November 15, 2007 - Pearls Infrastructure Projects Ltd is offering a high-end housing project Nirmal Chhaya Towers, in VIP Road, Zirakpur, Punjab. Situated over 17.5 acres of lush green area, this residential complex is located strategically in terms of the convenience. The total value of this project is approximately Rs.300 crores.

| Comments (0)

November 14, 2007

Kamal Nath stresses public-private partnership for healthcare infrastructure | INRnews

New Delhi, India, November 14, 2007 - Shri Kamal Nath, Union Minister of Commerce & Industry, has stressed on developing new infrastructure for the healthcare sector in view of the tremendous opportunities that are available for public-private partnership. Speaking at the 4th India Health Summit “Healthcare Engagement: Strategies and partnerships” here today, the Minister said: “Large windows of opportunities are opening up. To give just one example, Indian medical tourism was estimated at $350 million in 2006 and this has the potential to grow into a $2 billion industry by 2012”.

| Comments (0)

November 13, 2007

Omaxe announces allotment of plots at PDA - Omaxe City, Patiala | INRnews

Patiala, India, November 13, 2007 - Omaxe, one of India’s leading real estate companies with footprints in 30 towns and 9 states, today initiated draw of lots for the plots at PDA - Omaxe City at Patiala. Strategically located at Sirhind Road, Baran, connecting G.T Road with Ludhiana and Amritsar, PDA Omaxe City presents an incomparable township advantage in tandem with the ongoing multifarious infrastructure developments around the city.

| Comments (0)

New supply to stabilise residential prices in Mumbai | INRnews

Mumbai, India, Novemer 13, 207 - With new supply of residential real estate space in Mumbai, development of new areas like Navi Mumbai, and redevelopment projects such as the Dharavi redevelopment in the pipeline, the outlook is for stable prices in the Mumbai market.

| Comments (0)

IT SMEs seek tax benefits on office space rentals | INRnews

Chennai, India, November 13, 2007 - The government needs to set up IT parks for small and medium enterprises (SMEs) with nominal occupation charges and permit co-ownership of space at special economic zones (SEZs).  This was stated by Mr Raghunathan, President, IT-SME Association at a pre-budget discussion hosted by FICCI.

| Comments (0)

National Buildings Construction Corporation turnover Rs 1514 crore in 2006-07 | INRnews

New Delhi, India, November 13, 2007 - The National Buildings Construction Corporation Ltd (NBCC) has grown to become the big Public Sector Company having a recorded turnover of Rs. 1514 crore for the financial year 2006-07. This was stated by Shri S.Jaipal Reddy, Urban Development Minister at a meeting of the Parliamentary Consultative Committee attached to his Ministry here today. The subject of discussion was NBCC. Shri Reddy said that while improving its performance consistently, NBCC has paid back maiden dividend to the Government. NBCC has also been awarded: The top ten PSU Award for 2004-05 and 2005-06 and the best turn around company Award by the Prime Minister of India.

| Comments (0)

Latest developments and policy initiatives in Civil Aviation in India | INRnews

New Delhi, India, November 13, 2007 - This article summarises the latest developments and policy initiatives in Civil Aviation in India including policies and plans on new airports.

| Comments (0)

Mumbai office space rentals rise in submarkets | INRnews

Mumbai, India, November 13, 2007 - Rentals for office space in submarkets of Mumbai such as Worlid, Prabhadevi, Goregaon and Navi Mumbai jumped by 10%-20% in Q3 2007. As compared to this, rental and capital values in the CBD remained stable.

| Comments (0)

November 12, 2007

UTI MF launches UTI- Infrastructure Advantage Fund-Series I | INRnews

Mumbai, India, November 12, 2007 - UTI Mutual Fund today announced the launch of a new scheme, UTI-Infrastructure Advantage Fund-Series I.  The new fund offer (NFO) opens on November 12, 2007 and closes on December 19, 2007. Units can be purchased only during the NFO period.

| Comments (0)

Ansal Housing launches Ansal Town in Rewari, Haryana | INRnews

Rewari, India, November 12, 2007 - Ansal Housing & Construction a leading real estate developer is coming to Rewari, Haryana, with its latest offering Ansal Town.  Ansal Town, Rewari is designed to be a self- sufficient, scenic township, built to international standards.

| Comments (0)

Bangalore residential real estate market to see more balanced growth | INRnews

Bangalore, India, November 12, 2007 - With the release of much awaited CDP / Master Plan 2015, Bangalore city is expected to witness a more balanced growth in terms of residential developments, which presently are quite skewed and concentrated towards the southern & northern part of city. The development plan earmarks huge quantum of land under residential use in some of the comparatively un-touched zones of the city. The proposal tries to bridge the gap between future demand and desired supply.

| Comments (0)

Chennai residential real estate outlook stable | INRnews

Chennai, India, November 12, 2007 - The Chennai residential real estate market is expected to be stable over the next quarter according to real estate services firm Colliers International.

| Comments (0)

November 11, 2007

New supply of office space to stabilise prices in Delhi and NCR market | INRnews

New Delhi, India, November 11, 2007 - New supply of over 1.8 million sq ft of office space is likely to stabilise rental and capital values across the NCR market while demand factors continue to be strong.

| Comments (0)

November 10, 2007

Pune residential and commercial real estate market third quarter update | INRnews

Pune, India, November 10, 2007 - The Pune real estate market saw new residential and office space supply being added in the third quarter of 2007 according to real estate services firm Colliers International.

| Comments (0)

Delhi residential real estate demand more end-user driven | INRnews

New Delhi, India, November 10, 2007 - The Delhi residential real estate market has seen a shift from predominantly investor driven to the end user focused; which might stabilize it to a greater extent with a probability of price correction in the near future according to real estate services firm Colliers International.

| Comments (0)

November 09, 2007

Bangalore office rentals move up in the third quarter | INRnews

Bangalore, India, November 09, 2007 - Rental values for office space in Bangalore moved up in the third quarter of 2007 according to real estate services firm Colliers International.

| Comments (0)

November 08, 2007

Omaxe acquires Faridabad land | INRnews

Faridabad, India, November 08, 2007 - Omaxe Ltd has announced that the Company has acquired Land admeasuring 11.012 acres (Approx) at Faridabad, Haryana at a Total Consideration of Rs 45 Crores (Approx) (including share purchase consideration) through the process of acquisition of M/s. S N Realtors Pvt Ltd (Land owning Company) clear of all its existing liabilities.

| Comments (0)

CCEA approves operator to develop Mumbai Port offshore container terminal | INRnews

Mumbai, India, November 08, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for Development of Offshore Container Terminal on Build, Operate and Transfer basis at Mumbai Port, under Licence Agreement to be entered into by Mumbai Port Trust (MbPT) with the BOT operator namely, aConsortium of M/s. Gammon India Limited, M/s. Gammon Infrastructure Limited and M/s. Dragados SPL, Spain. 

| Comments (0)

November 07, 2007

Large supply of office space keeps Chennai rentals and capital values stable | INRnews

Chennai, India, November 07, 2007 - A huge supply of more than 6.5 million sq ft of new Grade A office space in Chennai since the beginning of the year till Q3_07, is keeping rental and capital values stable.

| Comments (0)

November 06, 2007

Indiabulls Real Estate promoters increase stake | INRnews

Mumbai, India, November 06, 2007 - The promoters of Indiabulls Real Estate have increased their stake in the company from 23.97% to 27.14% by exercising their option to convert ten million series  II warrants (convertible into an equivalent number of Equity Shares of face value Rs 2 each in the Company) which had been allotted in their favour in 2006.

| Comments (0)

Foreign airlines to fly to Calicut from Q1 2008 | INRnews

Calicut, India, November 06, 2007 - There has been a hundred percent increase in international flights to and from the state of Kerala including Calicut in the last three years. During the recent visit of the Minister for Civil Aviation Shri Praful Patel to Calicut, the Minister had announced that operation of foreign airlines to and from Calicut would be started from the first quarter of 2008. In the interest of more reliable connectivity to the state of Kerala, Air India will soon provide stand by aircraft for its Kerala operation.

| Comments (0)

We urge state governments to roll our infrastructure projects: Mrs. Sindhushree Khullar | INRnews

Bhubaneswar, India, November 06, 2007 -  We urge state governments to roll out infrastructure projects – big or small – said Mrs Sindhushree Khullar, Additional Secretary, Department of Economic Affairs (DEA), Ministry of Finance at a workshop for states on Public Private Partnerships (PPP) at Bhubaneshwar. This is part of an initiative taken by the DEA and Confederation of Indian Industry (CII) to spread awareness about the framework for PPP projects under state governments. She described the PPP route as the unavoidable option for closing the glaring the infrastructure deficit that is visible across states, with the economy growing so fast.

| Comments (0)

November 05, 2007

Eredene Capital PLC in JV to develop a 72-acre logistics park in Haldia | INRnews

London, UK, November 05, 2007 - Eredene Capital PLC (AIM: ERE), the AIM quoted Indian property developer, today announces that its wholly owned subsidiary Aboyne Mauritius Limited (together “the Eredene Group”) has acquired a 50% stake in a joint venture company to develop a planned 72-acre integrated logistics park in Haldia, West Bengal, which is a growing trading port and commercial hub for the East Indian city of Kolkata (formerly Calcutta).

| Comments (0)

Parsvnath Developers incorporates subsidiaries | INRnews

New Delhi, India, November 05, 2007 - Parsvnath Developers Ltd has announced that the Company has incorporated two subsidiary Companies.New Delhi, India, November 05, 2007 - Parsvnath Developers Ltd has announced that the Company has incorporated two subsidiary Companies.

| Comments (0)

Ebay Inc. and PayPal open new centre in Chennai's IT corridor | INRnews

Chennai, India, November 05, 2007 - eBay Inc. and PayPal have opened a new Global Development Centre in Chennai, India. The facility at Futura IT Park on Old Mahabalipuram Road, Sholinganallur, currently houses a development staff of approximately 1000 people and the companies plan to hire hundreds of additional technical positions over the next two years.

| Comments (0)

Clear Water Capital Partners takes 49% stake in BSEL Infra SPV | INRnews

Mumbai, India, November 05, 2007 - BSEL Infrastructure Realty Ltd has announced that Clear Water Capital Partners (Cyprus) Ltd has taken 49% stake in the SPV Company formed by BSEL Infrastructure Realty Ltd in equal Joint Venture with Unity Realty and Developers Ltd and Kamat hotels (India) Ltd. The same has resulted in dilution of present stake of BSEL Infrastructure Realty Ltd, Unity Realty and Developers Ltd and Kamat hotels (India) Ltd in the said SPV from 33.33% each to 17% each.

| Comments (0)

Parsvnath Developers - Parsvnath SEZ Ltd inks MoU with Government of Madhya Pradesh | INRnews

New Delhi, India, November 05, 2007 - Parsvnath Developers Ltd has announced Parsvnath SEZ Ltd (PSL), a subsidiary of the Company has signed a MoU with the Government of Madhya Pradesh to provide facilities and incentives at the 76 acres SEZ being developed, by the Company at Indore.

| Comments (0)

November 03, 2007

SPV for funding infrastructure projects approved | INRnews

New Delhi, India, November 03, 2007 - The Union Cabinet today gave its approval  to the following proposals for establishment of a Special Purpose Vehicle (SPV) for funding infrastructure :

| Comments (0)

November 02, 2007

Omaxe buys Visakhapatnam land for Rs 100 crore | INRnews

Visakhapatnam, India, November 02, 2007 - Omaxe Ltd has announced that Visakhapatnam Urban Development Authority (VUDA) has vide its letter Dt. November 01, 2007 accepted the bid of M/s. Finishing Touch Properties and Developers Pvt Ltd (Subsidiary of the Company) in "Auction of Bulk land Plot No. 5 admeasuring 19.53 acres situated at Mathurwada Layout area in Visakhapatnam" in an open auction cum sealed tender basis and has made allotment of the said land on provisional basis subject to auction terms and conditions.

| Comments (0)

November 01, 2007

MARG Constructions forges association with Pembinaan Redzai of Malaysia | INRnews

Mumbai, India, November 01, 2007 - Karaikal Port Private Ltd (KPPL), a wholly owned subsidiary of MARG Constructions Ltd signed a Memorandum of Understanding with Pembinaan Redzai Sdn Bhd, a leading Malaysian entity, to explore potential co-operation on a variety of areas for the Karaikal Port project.

| Comments (0)

Arvind Mills unveils retail plan with launch of Megamart | INRnews

Mumbai, India, November 01, 2007 - Arvind Mills has announced a retail plan to reach sales turnover of a billion dollars by 2012.

| Comments (0)

CII welcomes TN's proposal for Chennai-Bangalore industrial corridor | INRnews

Chennai, India, November 01, 2007 - Confederation of Indian Industry (CII), Tamil Nadu State Council has welcomed today Tamil Nadu Chief Minister,  Dr Kalaignar M Karunanidhi’s proposal to the Prime Minister to announce the development of the Chennai-Bangalore industrial corridor as an Industrial Corridor of Excellence on the lines of the Delhi-Mumbai industrial corridor.

| Comments (0)

October 31, 2007

Aviation Grid, 500 Mega & 6 Regional Airports proposed In Aviation Policy | INRnewsAviation Grid, 500 Mega & 6 Regional Airports proposed In Aviation Policy | INRnews

New Delhi, India, October 31, 2007 - The government will notify its New Civil Aviation Policy by first quarter of 2008 to facilitate creation of 500 mega and 6 regional airports and develop mechanism for aviation grid for setting up of multi-model merchant airports, besides make its 100 airports operational, whose number is 50 now.

| Comments (0)

Gurgaon residential real estate - over-supply at the high-end? | INRnews

Gurgaon, India, October 31, 2007 - The Gurgaon residential market has seen a meteoric rise in the last few years. However, with a large number of residential units, particularly at the high end, scheduled to hit the market in the next 6-18 months, the demand-supply dynamics is set to undergo a few changes that could impact future growth according to a recent report by global real estate adviser DTZ .

| Comments (0)

Lee Kuan Yew urges infrastructure upgradation in India to fuel growth | INRnews

New Delhi, October 31, 2007 - Mr Lee Kuan Yew, Mentor Minister, Republic of Singapore, said “India is on a roll. It’s the Indian  season and it’s the flavour of international investors.” He made these remarks while presiding over a CEOs Lunch Meeting, hosted by the Confederation of Indian Industry (CII) in his honour here on Wednesday. Mr Lee, however said that poor infrastructure is slowing down India’s progress. “But I think India will find its rightful place in the international scene as we are seeing more  investments in roads, bridges, airports, container ports etc,” he said. 

| Comments (0)

Financial assistance for new infrastructure projects in NCR | INRnews

New Delhi, India, October 31, 2007 - The  Project Sanctioning and Monitoring Group of the NCR Planning Board met under the Chairmanship of Shri M. Ramachandran, Secretary, Ministry of Urban Development, here today to discuss progress of implementation of infrastructure development projects financed by the Board in the National Capital Region and in five counter magnet towns of Bareilly, Hissar, Patiala, Gwalior and Kota and sanction financial assistance for new infrastructure development projects in the region.

| Comments (0)

October 30, 2007

Sobha Developers launches "Sobha Carnation" residential apartments in NIBM Kondwa, Pune | INRnews

Pune, India, October 30, 2007 - Sobha Developers Ltd has announced that Company will be launching its first Real Estate Project "Sobha Carnation" at NIBM Kondwa in Pune on October 31, 2007. This will be developed in 5.70 acres of land with a developable area of over 3.05 lacs SFT.

| Comments (0)

DLF announces financial results for Q2 FY08 | INRnews

New Delhi, India, October 30, 2007 - DLF Limited, India’s largest real estate Company, recorded consolidated revenues of Rs 3,349 crore for the quarter ended September 30, 2007, an increase of 7.3% from Rs 3,121 crore in the first quarter of the current fiscal. EBIDTA was at Rs 2,363 crore, an increase of 5% as compared to Rs 2,251 crore in Q1 FY08. Net profit stood at Rs 2,018 crore, up by 32% from Rs 1,524 crore. The non annualized EPS for the quarter was Rs 11.83.

| Comments (0)

Tata Realty & Infrastructure to raise $750 mn | INRnews

Mumbai, India, October 30, 2007 - Tata Realty and Infrastructure, a 100-per cent subsidiary of Tata Sons, is to raise $750 million (Rs3,000 crore) to fund realty and infrastructure projects. 

| Comments (0)

Tata Realty And Infrastructure Limited (TRIL) and Jafza International form a joint venture | INRnews

Mumbai, India, October 30, 2007 - Tata Realty And Infrastructure Limited (TRIL), a 100-per cent subsidiary of Tata Sons, today signed a 50:50 joint venture with Jafza International, the global operation arm of Economic Zones World of Dubai UAE to develop and operate a chain of business and logistics parks across India.

| Comments (1)

Era Constructions awarded Rs 81 crore Indian Oil contract | INRnews

Mumbai, India, October 30, 2007 - Era Constructions India Ltd has announced that Era Infra Engineering Ltd (Construction Division) has been awarded Civil and Structural Works of HDPE unit, Panipat Naptha Cracker Project by Indian Oil Corporation Ltd at Panipat, Haryana on October 25, 2007 valuing Rs 81,75,17,629.

| Comments (0)

October 29, 2007

Trikona Trinity Capital PLC invests in South Indian real estate projects | INRNews

London, UK, October 29, 2007 - Trikona Trinity Capital PLC (AIM: TRC) managed by Trikona Capital Limited, a fund created for investing in real estate and real estate related entities across India, is pleased to announce the £3.1m* second tranche of investment in its retail, commercial and residential initiative in Hyderabad, South India.

| Comments (0)

Sobha Developers forms JV to develop 192 acre township in Gurgaon, Haryana | INRnews

Gurgaon, India, October 29, 2007 - Sobha Developers Ltd has announced that the Company has entered in to a Joint Development Agreement with QVC Realty Pvt Ltd and Chintels India Ltd, to develop an integrated township spread over 192 Acres in Gurgaon, Haryana.

| Comments (0)

October 26, 2007

Hindustan Construction receives Rs 983 crore of new orders | INRnews

New Delhi, India, October 26, 2007 - Hindustan Construction Company Ltd has announced that it has received three major orders in transportation and water sector worth Rs 983 crores. These include Rs 774.64 crore (HCC share Rs 256 crore) order of construction of two underground stations and a tunnel between New Delhi and Talkatora Garden stations from Delhi Metro Rail Corporation and two projects from BMC for water tunnel construction worth Rs 727 crores.

| Comments (0)

October 25, 2007

Second Pune Central mall opens at University Road | INRnews

Pune, India, October 25, 2007 -  Pune Central, the seamless mall, opens its second Central mall in Pune at University Road. This is the first time that Central has launched two malls in a city and is indicative of the resounding success that it has been, in the city of Pune. Pune Central’s second mall in the city is also in response to the tremendous demand from Puneites from north-western part of Pune, which has emerged as an IT Hub.

| Comments (0)

Hirco Invests £96.6 Million to develop Panvel township in Mumbai Metropolitan Region | INRnews

London, UK, October 25, 2007 - Hirco Plc (AIM:HRCO.L), the investment vehicle for Hiranandani, India’s largest developer of prestigious mixed-use townships, today announced that it has invested £96.6 million in a Residential Township (“Panvel Residential”) development project located in Panvel, in the Mumbai Metropolitan Region of India.

| Comments (1)

Akruti Nirman enters the Pune real estate market | INRnews

Pune, India, October 25, 2007 - Akruti Nirman Ltd, a leading real estate developer, has announced that the Company has entered Pune. To cater to the rapidly evolving needs of Pune denizens, Akruti City Ltd will build international quality residential & commercial complexes, hotels, and IT parks in the city.

| Comments (1)

October 24, 2007

Piyush Group launches state of the art township in Bhiwadi | INRnews

New Delhi, India, October 24, 2007 - Real-estate developer Piyush Group has announced the launch of Piyush City, an integrated township project in Bhiwadi.

| Comments (0)

October 23, 2007

Indian Civil Aviation Ministry drafts guidelines for greenfield airports | INRnews

New Delhi, India, October 23, 2007 - The Committee on Infrastructure (COI) headed by the Prime Minister, on 18th April 2007 had directed the Constitution of an Inter Ministerial Group (IMG) under the chairmanship of Secretary (Civil Aviation) to recommend the principles, guidelines and licencing conditions for greenfield airports. This was done with a view to bridging the growing deficit in airport infrastructure. The anticipated investment in airport development during the Eleventh Plan is over Rs.40,000 crores, both from public and private sources, including for greenfield airports. It is, therefore, necessary to lay down the policy guidelines that would govern proposals for setting up greenfield airports, other than defence airports.

| Comments (0)

October 22, 2007

Parsvnath launches Royale Villas at Jodhpur | INRnews

Jodhpur, India, October 22, 2007 -  Parsvnath Developers Ltd has announced that in view of the extensive economic development around Jodhpur,  the Company is building Parsvnath City, a self-contained; Mega Township spread over 110.4 Aces in Jodhpur. The Company on October 22, 2007, launched Parsvnath Royale Villas, limited edition, exclusively designed, independent villas which are an integral part of Parsvnath City.

| Comments (0)

Inox Leisure Q2 Revenues touch Rs 58 crore | INRnews

Mumbai, India, October 22, 2007 - The Board of Directors of INOX Leisure Ltd. (ILL) announced its results for the second quarter of the financial year 2007-2008, following its meeting on Monday, 22nd October 2007 in Noida. Maintaining its rapid growth resulting from its aggressive national roll out, INOX reported a 45% YOY growth in revenues for Q2 2007-08 at Rs. 58.02 crores versus Rs. 39.96 crores in the same quarter of the previous year. Q2 profits grew by 19% to Rs. 8.30 crores from Rs.6.96 crores in 2006-2007.

| Comments (0)

October 19, 2007

Civil Aviation in India - an overview | INRnews

New Delhi, India, October 19, 2007 - Domestic and international traffic have seen an acceleration of growth in recent years.  In the 12 months to 31 March, 2007, airlines carried 35 million domestic passengers (up 39.5% year-on-year) and 22.4 million international passengers (up 15.1%).  This follows domestic traffic growth of 28% the previous year and 20% the year before.  Domestic traffic has consequently doubled in the space of three years.

| Comments (0)

BOA of SEZ grants 10 formal and 3 in-principle approvals | INRnews

New Delhi, India, October 19, 2007 - The Board of Approval of the Special Economic Zones (SEZs) has recommended grant of 10 formal and 3 in-principle approvals here today.   The Chairman of the Board, while informing the members stated that including the latest SEZ approvals a total of 395 SEZs formal approvals have been granted. He further informed that out of these, 156 SEZs have been notified and investment of Rs.50,906 crore has taken place  in these notified SEZs providing direct employment to over 72168 persons.

| Comments (0)

October 18, 2007

Parsvnath Developers launches Indore township | INRnews

Indore, India, October 18, 2007 -  Parsvnath Developers Ltd has announced the launch of yet another iconic residential development Parsvnath City at Indore, Sprawling over 200 acres, the township will offer multistorey condominiums, Villas & Plots.

| Comments (1)

GMR Infrastructure net operating revenues up 26 % in Q2 FY 2008 | INRnews

Bangalore, India, October 18, 2007 - GMR Infrastructure Limited (GIL), India’s premier infrastructure bell weather company announced its financial results for the first half year and second quarter ended September 30, 2007 today. Commenting on the results Mr. G.M. Rao, Group Chairman, said “Our numbers are growing as per expectations. The present results reflect only a small aspect of the true operating potential of our assets and as more of our businesses are operationalised to optimum capacity, we are confident of posting substantial growth in performance, thereby resulting in continued value accrual for all our stakeholders. However, we continue to consolidate our position as an innovative Infrastructure player, moving in rapidly to identify domestic as well as international investment opportunities.”

| Comments (0)

October 17, 2007

Vijay Shanthi Builders enters agreement for Rs 135 crore Chennai apartment project | INRnews

Chennai, India, October 17, 2007 - Vijay Shanthi Builders Ltd has announced that the Company entered in to agreement for a new project valued about 135 Crores in Chennai.

| Comments (1)

October 16, 2007

GMR HIAL ties up with HMS Host for retail chain at the new Hyderabad International Airport | INRnews

Hyderabad, India, October 16, 2007 - GMR Hyderabad International Airport Limited (GHIAL), which is racing ahead in the development of Rajiv Gandhi International Airport in Shamshabad, has awarded the contract of setting up, operating and maintaining F&B outlet to HMSHost, a world leader in travel dining and shopping on Tuesday, October 16, 2007.

| Comments (0)

October 12, 2007

INOX third multiplex in Jaipur, Rajasthan | INRnews

Jaipur, India, October 12, 2007 - After revolutionizing the way Jaipur watches movies with its multiplexes in Vaishali Nagar and City Plaza, INOX fans in the city are set for a treat as INOX launches its third and most premium multiplex at the Crystal Palms mall in C Scheme on Friday, 12th October 2007. INOX at C Scheme is a 3 screen multiplex with 849 seats and is the 19th multiplex in the INOX chain.

| Comments (0)

October 11, 2007

Infrastructure development can ramp up India's GDP growth to 10-11% | INRnews

New Delhi, India, October 11, 2007 - The President of ADB Mr. Haruhiko Kuroda, together with a group of senior members from ADB met a delegation of Indian companies to discuss the issue of infrastructure finance. Mr. Kuroda said that infrastructure development in India could increase the rate of GDP growth from the current level of 8-9% to about 10-11%, as seen in the case of China. Mr. Kuroda also emphasized the importance of PPPs in mobilizing resources for the infrastructure sector. India’s experience in designing and executing such partnerships could then become a lesson for other emerging economies. 

| Comments (0)

October 09, 2007

Parsvnath Developers - Parsvnath Dehradun SEZ gets notified | INRnews

New Delhi, India, October 09, 2007 - Parsvnath Developers Ltd has announced that the Company has received the final Notification from the Central Government for the setting up of IT / ITES SEZ at Sahastra Dhara Road at Dehradun (Uttaranchal). With this, the Company now has three notified product specific SEZs for IT / ITES Sectors at Indore, Gurgaon and Debradun, which will be executed by the Company's Subsidiary, Parsvnath SEZ Ltd.

| Comments (0)

PM inaugurates national conference on JNNURM | INRnews

New Delhi, India, October 09, 2007 - Prime Minister Dr.Manmohan Singh has said that the Government is considering the idea of offering further incentives to States and cities that implement reforms on a faster track. The Prime Minister was speaking at a National Conference on Jawaharlal Nehru National Urban Renewal Mission (JNNURM) which he inaugurated here today. He urged the State and Local Governments to advance the timelines for implementation of reforms so that the Mission’s objectives are met within the time specified. For example, the reforms pertaining to improving Urban Local Body Finances could be completed within the first three years of the Mission. This will enable these bodies to become viable and eligible to enlist institutional finance, he added.

| Comments (0)

CCEA approves $250 million FDI in SKIL Infrastructure | INRnews

New Delhi, India, October 09, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for M/s. SKIL Infrastructure Ltd., Mumbai to accept foreign investments from M/s. GL Asia Mauritius II Ltd., Mauritius upto 26% amounting to US$250 million (Approx.Rs.1000 crore) by way of issue of 1 lakh interest accruing secured convertible debentures of Rs.1 lakh each for making downstream investments in M/s. Mumbai SEZ Ltd., M/s. Navi Mumbai SEZ Ltd.,  M/s. Pipavav Shipyard Ltd., M/s. SKIL Himachal Infrastructure and Tourism Ltd., M/s. Gujarat Positra Port Company Ltd. and M/s. Logistics Project; or in such other projects which are compliant with the Foreign Direct Investment policy of the Government of India.

| Comments (0)

CCEA approves Rs 185 crore Visakhapatnam Port upgradation project | INRnews

Visakhapatnam, India, October 09, 2007 - The Cabinet Committee on Economic Affairs today gave its approvals for up-gradation and modernization of iron ore handling facilities at the Outer Harbour of Visakhapatnam Port at an estimated cost of Rs. 185.15 crores.

| Comments (0)

October 08, 2007

Eredene Capital PLC invests in a container freight station at Pipavav port in Gujarat | INRnews

London, UK, October 08, 2007 - Eredene Capital PLC (AIM: ERE), the AIM quoted Indian Property Developer, today announced that its wholly-owned subsidiary Aboyne Mauritius Limited (together the “Eredene Group”) has acquired a major stake in a Container Freight Station (CFS) to serve the Indian port of Pipavav. This is the Eredene Group’s second real estate investment in a CFS in India, where there is rising demand for container service facilities, and its third investment since shareholder approval of its broadened investment strategy.

| Comments (1)

Development of non-metro airports in India | INRnews

New Delhi, India, October 08, 2007 - The Government of India had approved a plan for modernization of 35 non-metro airports. Airports Authority of India (AAI) was mandated to undertake development of these airports to world-class standards. The work on construction of new terminals and expansion/upgradation of runways, apron etc. is in full swing and several new terminals are likely to be completed during the current financial year.

| Comments (0)

October 05, 2007

Public Private Partnershis best way to create an enabling environment for state Projects | INRnews

Kochi, October 05, 2007 - Addressing the Conference jointly organized by the Confederation of Indian Industry (CII) and the Department of Economic Affairs, Ministry of Finance Government of India, Mr. Arvind Mayaram, Joint Secretary mentioned that the overall response to the call to promote PPP as the preferred mode for the implementation of infrastructure was encouraging but, limited to a few sectors.

| Comments (0)

October 03, 2007

DLF to develop New Bangalore City township in Bidadi | INRnews

Bangalore, India, October 03, 2007 - As per the announcement made by Karnataka government spokesperson, DLF has been awarded a project to develop  'New Bangalore City' in Bidadi following a global tender issued by Bangalore Metropolitan Regional Development Authority (BMRDA).

| Comments (1)

Empower urban local bodies to manage urbanisation - Minister | INRnews

New Delhi, India, October 03, 2007 - Shri. Jaipal Reddy, Union Minister for Urban Development has said that it was essential for higher levels of government to empower Urban Local Bodies and build their capacities to manage the inevitable process of urbanization that the country in experiencing. Shri Reddy was speaking at the India urban Space 2007 Expo at Mumbai recently. Shri Reddy inaugurated the Urban Conference and Expo.

| Comments (0)

October 01, 2007

Ishaan Real Estate Plc secures pre-letting agreement for Mindspace IT SEZ, Navi Mumbai | INRnews

London, UK, October 01, 2007 - Ishaan Real Estate Plc ("Ishaan") is pleased to announce that it has signed a new letter of Intent with a leading ITES company for 360,000 sq. ft. (including 220,000 sq. ft. under option) at Mindspace IT Park (SEZ development), Airoli, Navi Mumbai.

| Comments (0)

CCEA approves infrastructure development of Panchkula, Mohali and Naya Raipur | INRnews

New Delhi, India, October 01, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for the infrastructure development of Panchkula and Mohali near Chandigarh, and Naya Raipur in Chhatisgarh under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).

| Comments (0)

September 29, 2007

Private sector expects to invest upto 25 per cent in Indian Infrastructure projects: | INRnews

New Delhi, India, September 29, 2007 - The private sector expects to invest upto 25 per cent of the total investments needed in infrastructure sector in the next 5 years. This was revealed by 79 per cent of the CEOs in a CII CEOs snap poll on Infrastructure conducted by CII and was more than the international average of about 20 per cent participation in infrastructure investment by the private sector.

| Comments (0)

September 28, 2007

‘HomeTown’ – home making store from the Future Group, comes to Marathalli, Bangalore | INRnews

Bangalore, September 28, 2007: Home Solutions Retail (India) Ltd., a part of the Future Group, today, announced the launch of ‘HomeTown’, India’s most comprehensive home making/ home improvement store, at Marathalli, Bangalore. Spread over an area of about 1,86,000 sq.ft. (built up), HomeTown will provide consumers with all that goes into building a house and everything to make it a ‘Home’.

| Comments (0)

Pantaloon launches first exclusive ‘Depot’ store launched in Kolkata | INRnews

Kolkata, India, September 28, 2007 - DePOT, the ‘books, music, gifts and stationery’ retail format of Pantaloon Retail (India) Limited (a part of Future Group), today launched it’s first exclusive stand alone store at E Mall, 2nd Floor, Chitranjan Avenue, Kolkata.

| Comments (0)

Ansal Properties enters into MoU to form construction JV with UEM | INRnews

Mumbai, India, September 28, 2007 - Ansal Properties & Infrastructure Ltd has announced that the Company has entered into a MOU, on September 28, 2007, with UEM (Mauritius) Co. Ltd, {UEM}, to form a joint Venture Company in India. The JV shall carry out building construction and engineering works of various projects of the Company situated in various states to give impetus to its construction activities in terms of quality and timeliness. UEM as part of UEM Builders is under UEM Group Berhad.

| Comments (0)

Nagarjuna Construction secures three new orders worth Rs 243 crore | INRnews

Hyderabad, India, September 28, 2007 - Nagarjuna Construction Company Ltd has announced that the Company has bagged three new orders totaling Rs 243 crores.

| Comments (0)

September 27, 2007

Parsvnath Developers gets good response to Chandigarh township | INRnews

Chandigarh, India, September 27, 2007 - Parsvnath Developers Ltd has announced that in an overwhelming response to the first phase of the launch of Parsvnath Prideasia, the Premium Township of the Company, more than 65% of the units on offer have been booked. 220 units in various categories at this luxurious township situated in the heart of Chandigarh have been booked amounting to a sale of Rs 325 crores approximately.

| Comments (0)

Commercial property rentals plateauing in key Indian cities except Mumbai - DTZ | INRnews

Mumbai, India, September 27, 2007 - New research released by global real estate adviser DTZ reveals that commercial property rentals across most major Indian cities have peaked and are set to fall in the next quarter.

| Comments (0)

DTZ moves to larger premises in Bangalore | INRnewsDTZ moves to larger premises in Bangalore | INRnews

Bangalore, India, September 27, 2007 - Global real estate adviser DTZ has expanded its operations in India by relocating its Bangalore base to a modern 10,647 sq m office space in the heart of the city's CBD at Nitesh Timesquare.

| Comments (0)

September 26, 2007

DLF announces second IT Park in Rajarhat, Kolkata | INRnews

Kolkata, India, September 26, 2007 - DLF Ltd has announced its second IT Park in Kolkata. The Company is developing this state of the art, world-class facility on 25 acres of land offering 2.5 million sq.ft. of IT/ITES workspace.

| Comments (0)

Gurgaon infrastructure development required to make it a world city | INRnews

Gurgaon, India, September 26, 2007 - CII Haryana State  Council  facilitated an interaction between the Industry and the Government of Haryana for sustaining the Growth Momentum of Gurgaon  at the CII Conference Hall in Gaurgaon today.The Interaction was basically on the issues in terms of infrastructure development, security issues that would need to be pursued for Gurgaon to become a truly Global City and also to sustain this rapid growth momentum. Mr Rakesh Gupta, Deputy Commissioner, Gurgaon, Mr Mohinder Lal, Commissioner-Police Gurgaon were present at this Session.

| Comments (0)

September 24, 2007

Green Building Congress concludes | INRnews

Chennai, India, September 24, 2007 - The Green Building Congress 2007, the four-day exhibition and seminar on green buildings – buildings that save on energy, water and provide an ideal internal environment – saw the participation of over 80 organisations which showcased over 60 eco-friendly and energy efficient products.

| Comments (0)

September 23, 2007

Delhi and NCR residential real estate market sluggish | INRnews

New Delhi, India, September 23, 2007 - The Delhi and NCR residential real estate market is experiencing a slow-down in purchasing activity. While suburban markets have witnessed a decline in capital values driven by sluggish demand and adequate supply of new units, prime real estate in Central and South West Delhi has witnessed steady purchasing activity.

| Comments (2)

RBI’s Monetary Policy Inimical To Real Estate: ASSOCHAM | INRnews

New Delhi, India, September 23, 2007 - The Reserve Bank of India (RBI) should immediately review its monetary policy to remove its excessive focus on taming inflation only and concentrate to reduce mortgage rate, besides take measures to curtail interest rates to enable wage earners to afford dwelling units.

| Comments (0)

Mivtach Shamir to invest $13 million in Chennai real estate | INRnews

Chennai, India, September 23, 2007 - Mivtach Real Estate, a subsidiary of Israeli investment company Mivtach Shamir, is to invest around $13 million in Chennai real estate.

| Comments (1)

Bangalore residential real estate market sees slowdown | INRnews

Bangalore, India, September 23, 2007 - The Bangalore residential real estate market is experiencing a change in market dynamics and an overall slow-down in purchasing activity according to global real estate services firm Cushman & Wakefield. High prices, steep home-loan interest rates and anticipation of a price correction have resulted in only a marginal price escalation in the past few months accompanied by a 15%-25% drop in primary sales across micromarkets of Bangalore.

| Comments (2)

September 22, 2007

150 acres of mill land sold in Kolkata | INRnews

Kolkata, India, September 22, 2007 - In a move welcomed by the real estate industry, ailing public sector firm National Textile Corporation (NTC) has sold 150 acres of mill land in Kolkata for residential and commercial real estate redevelopment.

| Comments (0)

SAIL to develop steel SEZ in Salem, Tamil Nadu | INRnews

Chennai, India, September 21, 2007 - Steel major SAIL has signed a Memorandum of Understanding (MoU) with IL&FS Infrastructure Development Corporation (IIDC) to form a special purpose vehicle (SPV) to develop, operate and maintain a special economic zone (SEZ) dedicated to the steel sector.on 250 acres near SAIL’s Salem, Tamil Nadu plant.

| Comments (0)

Shriram Properties to develop $1.25 Billion township in Kolkata | INRnews

Kolkata, India, September 22, 2007 - Shriram Properties, a leading South India  based real estate developer, has announced that it has partnered with funds sponsored by Walton Street Capital and Starwood Capital Group to develop a Rs. 5,000 crore (USD 1.25 billion) integrated township in Kolkata, India.

| Comments (0)

Lavasa Corporation and Apollo Hospitals to Develop World-Class Healthcare Centre at Lavasa near Pune | INRnews

Pune, India, September 21, 2007 - Lavasa Corporation Ltd. today signed an agreement with the Apollo Hospitals Group, a world-class healthcare organization that manages over 42 hospitals in India and abroad, to set up an integrated Healthcare and Wellness destination at the Lavasa Hill town near Pune. The services will be spread over 200 acres of land. Initially, the plan is to establish a multi specialty hospital with a capacity of 50 beds which will be ready by 2009. Eventually the services shall extend to wellness services, rejuvenation, long-term care, research and development and others.

| Comments (0)

ITC to set up Fortune Lodges rural hotels in India | INRnews

Mumbai, India, September 22, 2007 - Hotels major ITC sees an opportunity to provide safe, hygienic and comfortable accommodation in rural areas of the country and plans to set up 15 three-star hotels within the next three years.

| Comments (0)

September 21, 2007

Peninsula Land to raise funds through equity issue | INRnews

Mumbai, India, September 21, 2007 - Peninsula Land, the real estate arm of the Ashok Piramal group, is to raise funds via fresh issue of shares.

| Comments (0)

Orissa govt approves new satellite city between Sambalpur and Jharsuguda | INRnews

Sambalpur, Orissa, September 21, 2007 - The Orissa government has approved the setting up of a model satellite city between Sambalpur and Jharsuguda to meet the needs driven by rapid industrialisation of the area.

| Comments (0)

Andhra Pradesh Housing Board earns Rs. 5.2 crore through land auctions | INRnews

Hyderabad, India, September 21, 2007 - The Andhra Pradesh Housing Board (APHB) has earned Rs 5.2 crore from the auction of eleven plots in Chintal, Bharatnagar in Sanathnagar and in Gachibowli.

| Comments (0)

Developers promote walk-to-work in Hinjewadi, Pune | INRnews

Pune, India, September 21, 2007 - Hinjewadi, the fast developing IT-hub of Pune, is to get commercial-cum-residential developments that promote the walk-to-work concept.

| Comments (0)

September 20, 2007

Vijayawada non-residential property taxes to increase | INRnews

Vijayawada, India, September 20, 2007 - Property taxes for non-residential properties in Vijayawada are to increase from October 1 due to a revision in the rental values. This follows a survey conducted in the city, in which it was found that prevailing rental values are far higher than the values fixed in 2001 when the last revision took place.

| Comments (0)

Major Indian cities do not meet air quality standards | INRnews

New Delhi, India, September 20, 2007 - As per the 2005 Environmental Sustainability Index (ESI) the ranking of India is at 101 position out of 146 countries. The Central Pollution Control Board(CPCB) is executing a nation-wide programme of ambient air quality monitoring known as National Air Quality Monitoring Programme (NAMP). Based on the monitoring of ambient air quality, fifty-one (51) non-attainment cities have been identified in the country in which the  prescribed Respirable Particulate Matter (RSPM) levels, specified under the National Ambient Air Quality Standards (NAAQS), are not met.

| Comments (1)

Smaller cities to fuel real estate growth says new report | INRnews

New Delhi, India, September 20, 2007 - As many as 11 tier II cities in the country are all set to transform the realty landscape of India, says a FICCI-Ernst & Young report on the Indian real estate sector. The FICCI-Ernst and Young Indian Real Estate Report, 2007: Growth and New Destinations, the highlights of which were released, reveals that besides eight metros, cities such as Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam and Jaipur are experiencing initial phase of rapid economic growth.

| Comments (0)

Development of rail network crucial for DMIC - Minister | INRnews

New Delhi, India, September 20, 2007 - Shri Kamal Nath, Union Minister of Commerce and Industry, has stressed on constructing more rail lines and improving their gauges for the development of industrial nodes being taken up under the Delhi-Mumbai Industrial Corridor (DMIC) Project. In his communication sent to the Railway Minister here today, Shri Kamal Nath has focussed on the crucial need for the development of rail networks especially in Madhya Pradesh where the rail route kilometer length is much less than the neighbouring states.  

| Comments (0)

September 19, 2007

HCL Info to set up systems integration hub at Nonadanga, Kolkata | INRnews

Kolkata, India, September 19, 2007 - HCL Infosystems Ltd plans to set up a major systems integration hub on 1.5 acres of land in Nonadanga near Kolkata. The project will be implemented in the next 8-12 months.

| Comments (0)

Bangalore based Golden Gate Properties close to stake sale | INRnews

Bangalore, India, September 19, 2007 - Bangalore based real estate developer, Golden Gate Properties, is believed to be close to a sale of a 20%-30% stake in the company. Leading financial institutions like ABN Amro, Credit Suisse and Deutsche Bank are reported to be in the race for picking up this stake for an estimated $100 million, according to an article in the Economic Times.

| Comments (0)

Chandigarh Housing Board to construct 10,000 houses | INRnews

Chandigarh, India, September 19, 2007 - The Chandigarh Housing Boad (CHB) is to construct about 10,000 houses for low and middle income groups in the city over the next 2-3 years.

| Comments (2)

Modern India to set up an IT SEZ at Khopoli near Mumbai | INRnews

Mumbai, India, September 19, 2007 - Modern India Ltd has announced that the Company is planning to set up an IT / ITES SEZ (Information Technology / Information Technology Enabling Services) (Special Economic Zone) on about 15 Hectare of land at Khopoli. This project will be implemented through a wholly owned subsidiary Company viz Modern India Property Developers Ltd.

| Comments (0)

SREI Infrastructure Finance to issue 25 mln shares to Promoter Group | INRnews

Mumbai, India, September 19, 2007 - SREI Infrastructure Finance Ltd has announced that the board of directors of the Company has proposed a preferential issue of up to 25,000,000 warrants to the Promoter Group, which on conversion, will increase their holding to over 35 per cent from the existing level of 20 per cent.

| Comments (0)

September 18, 2007

ICRA assigns “A1+” rating to the Rs. 20 billion Short-Term Debt/CP programme of DLF Limited | INRnews

New Delhi, India, September 18, 2007 - ICRA has assigned an “A1+” (pronounced as A one plus) rating to the Rs. 20 billion short- term debt /commercial paper programme of DLF Limited (DLF).

| Comments (1)

IDBI cuts fixed home loan rates | INRnews

Mumbai, India, September 18, 2007 - IDBI Ltd has cut the interest rates on fixed home loans by about 100 basis points (1%) with effect from September 1.

| Comments (0)

Sudhir Gopi Developers launches apartments in Guruvayur, Kerala | INRnews

Kochi, India, September 18, 2007 -  Sudhir Gopi Developers Private Ltd (SGDPL) has launched its debut project ‘Vaikundam Retreat’, a 11-storied fully air-conditioned apartment complex at the temple town of Guruvayur in Kerala.

| Comments (2)

Hotel Leelaventure to invest Rs 2,200 crore to develop hotel properties in India | INRnews

Mumbai, India, September 18, 2007 - Hotel Leelaventure Ltd is to invest Rs 2,200 crore over the next three years to develop new hotel properties and fund expansion at its existing properties in India.

| Comments (0)

SVP Builders announce the launch of "Gulmohur Greens Phase-II" in NCR | INRnews

Ghaziabad, India, September 18, 2007 - SVP Builders India Ltd., a 2000-crore real-estate development company based out of National Capital Region, today announced the launch of the Phase-II of their flagship project, ‘Gulmohur Greens’, which has a targeted revenue of INR 150-Crores (US$37.5 million), from 300-dwellings. Gulmohur Greens is just 8km from Delhi, right next to the Hindon Air Base with close proximity to 6 Malls, Mohan Nagar Hospital, Delhi Public School and Krishna Dental College.

| Comments (0)

Pantaloon Retail to raise Rs 200 crore through equity sale to private investors | INRnews

Mumbai, India, September 18, 2007 - Pantaloon Retail India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 18, 2007, inter alia, have unanimously passed the following:

| Comments (0)

Hirco reports strong sales at Hiranandani Palace Gardens in Chennai | INRnews

Chennai, India, September 18, 2007 - Hirco plc (“Hirco”), one of India’s largest real estate investment companies, announced today that sales activity of residential units at its Chennai Old Mahabalipuram Road township investment, Hiranandani Palace Gardens, continue to be strong both in terms of sales volume of residential units and the level of pricing achieved.

| Comments (1)

Vrindavan Tech Village to lease out 280k sq ft in Bangalore IT SEZ | INRnews

Bangalore, India, September 18, 2007 - Vrindavan TechVillage, one of the largest notified IT/ ITES SEZ in Bangalore announced their agreement to lease 280,000 sq ft to Outsource Partners International (OPI). Vrindavan TechVillage is a world class, 106 acre notified IT / ITES SEZ approved commercial development in Bangalore.

| Comments (0)

September 17, 2007

Brigade Enterprises files for draft red herring prospectus with SEBI | INRnews

Bangalore, India, September 17, 2007 - Brigade Enterprises Limited, a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India to enter the capital market with its initial public offering of its equity shares.

| Comments (1)

Moser Baer to set up Rs 2000 crore plant at Sriperumbudur SIPCOT SEZ | INRnews

Chennai, India, September 17, 2007 - Optical disc manufacturer Moser Baer India will set up a Rs 2000 crore solar photo voltaic plant at Oragadam-Sriperumbudur SIPCOT SEZ  near Chennai. The plant will come up on a 125 acre site in 2009. In the first phase the company will set up a “single thin film” solar fabrication facility.

| Comments (1)

Ansal Housing launches Ansals Woodbury Apartments in Zirakpur near Chandigarh | INRnews

Zirakpur, India, September 17, 2007 - Ansal Housing & Construction Ltd has announced that the Company on September 15, 2007 has launched a new Project named "Ansals Woodbury Apartments" at Zirakpur (Punjab). This is a Residential Group Housing Project located near PSEB Grid, Nabha Road, Babhat, Zirakpur (Punjab).

| Comments (4)

September 14, 2007

CREDAI NCR hosts conference on investment environment in real estate | INRnews

New Delhi, India, September 14, 2007 - The National Capital Region (NCR) chapter of the apex real estate industry body, Confederation of Real Estate Developer's Associations of India, CREDAI NCR, organized the country's largest interactive conference on 'Investment Environment & Funding Mechanisms in Real Estate Development in India' today with one of the leading real estate advisories Cushman & Wakefield. 

| Comments (0)

Unity Infraprojects awarded mall contracts aggregating to Rs 134.15 crore | INRnews

Mumbai, India, September 14, 2007 - Unity Infraprojects Ltd has announced that the Company has received the following orders aggregating to Rs 134.15 crores:

| Comments (0)

September 13, 2007

Landmark Square, a totally Wi-Fi enabled residential complex launched in Hyderabad | INRnews

Hyderabad, India, September 13, 2007 - Times are changing. People are becoming more tech-savvy. Even in construction of their residentail flats and independent homes, they demand their cute homes to be embedded with or built in with gadgets, gizmos and home technology devices which offer sustainability as well as comfort. Real estate companies are more than willing to help them to make it all come true.

| Comments (0)

HDIL to set up Kochi IT Park | INRnews

Kochi, India, September 13, 2007 - Mumbai-based real estate developer Housing Development and Infrastructure Ltd (HDIL) is to set up an IT park at Kalamassery, near Kochi. HDIL Cybercity will come up on a 70-acre plot with a total built-up area of 7.9 million sq ft of which 5.4 million sq ft will be used for IT space and the rest for hospitality, retail and entertainment.

| Comments (0)

Regularization of unauthorized developments & constructions in Karnataka | INRnews

Bangalore, September 13, 2007 - Owners of unauthorised developments and constructions in Karnataka will have an opportunity to regularise the same under a new scheme under Karnataka Town and Country Planning Rules 2007 that authorises all the local bodies in the state to regularise unauthorised properties. Applications for the same can be made starting this week.

| Comments (0)

India’s Home Loan GDP Ratio 5%, versus 50% In US & UK | INRnews

New Delhi, India, September 13, 2007 - Despite real estate witnessing boom in last couple of years with 90% of home loans borrowers being the first timers, home loans GDP ratio in India continues to be at meager 5% as against 50% in US and UK and therefore suggested that it be more than  doubled in budget proposals for 2008-09.

| Comments (0)

DLF to invest Rs 100,000 crore in Bengal real estate projects | INRnews

Kolkata, India, September 13, 2007 - Indian Real Estate major DLF Ltd plans to invest over Rs 100,000 crore in West Bengal over the next seven years. This was stated by Mr. AS Minocha of DLF Commercial Developers Ltd in a press interview.

| Comments (0)

Mantri Realty to invest Rs 100 crore in Kolhapur real estate development | INRnews

Kolhapur, India, September 13, 2007 - Real estate developer Mantri Realty is to set up the first IT Park in Kolhapur at a cost of Rs 20 crore. In addition the firm plans to invest a further Rs 80 crore to set up a 3-5 lakh sq ft mall and a 100-acre residential complex in Kolhapur.

| Comments (0)

HUDA sells land in Hyderabad | INRnews

Hyderabad, India, September 13, 2007 - The Hyderabad Urban Development Authority (HUDA) has raised money from the sale of multiple plots across Hyderabad.

| Comments (1)

September 12, 2007

Dawnay Day Hotels India completes acquisition of four properties | INRnews

New Delhi, India, September 12, 2007 - Dawnay Day Hotels India Ltd (DDHI) has completed its acquisition of four properties at Ahmedabad, Pune, Lucknow, and Jaipur as also signed MOU’s in Hyderabad and Bangalore . The group has initiated the process of setting up its mid – priced range of hotels across the country . Work has already begun at Jaipur, Ahmedabad & Pune, and will shortly commence at Lucknow, Hyderabad and Bangalore. Its first property is scheduled to open in Jaipur in the third quarter of 2008.

| Comments (0)

September 11, 2007

Rs 500 crore residential project planned in Kochi | INRnews

Kochi, India, September 11, 2007 - Malayalle Realtors India Pvt Ltd is to set up "Smart Village" in 55 acres of land at Manjapara near Nedumbassery at a cost of Rs 500 crore.

| Comments (0)

Sonata Software to set up 7 acre IT campus in Kokapet, Hyderabad | INRnews

Hyderabad, India, September 11, 2007 - Sonata Software Ltd has announced that it will set up its second development center in Hyderabad as part of its growth strategy. The Company has been allotted 7 acres of land in SEZ being set up by the government of Andhra Pradesh, for setting up an IT campus. The land is located in the emerging IT hub at Kokapet, near Gachhi Bowli, in Hyderabad.

| Comments (0)

Peninsula Land sells Mumbai business park premises for Rs 1054 crore | INRnews

Mumbai, India, September 11, 2007 - The Ashok Piramal Group's Peninsula Land Ltd has announced that the Company has entered into an Agreement for sale of 5,75,000 sq.ft. out of its proposed development at its Dawn Mills (Peninsula Business Park) premises at an approximate consideration of Rs 1,054 Crores to Alok Infrastructure Pvt Ltd.

| Comments (0)

September 10, 2007

Marvel Realtors partners with Och-Ziff Capital for residential project in Kharadi, Pune | INRnews

Pune, India, September 10, 2007 - Marvel Realtors, pioneers of super luxury apartments and home automation technology in India, announced  the launch of a Rs 500 crore JV project in association with Och-Ziff Capital Management Group.

| Comments (0)

Cushman & Wakefield ties-up with CREDAI NCR for conference | INRnews

New Delhi, India, September 10, 2007 - CREDAI NCR, the Delhi-NCR chapter of Confederation of Real Estate Developer's Associations of India (CREDAI), the apex industry body, has announced that it is convening India's largest conference on 'Investment Environment and funding Mechanisms in Real Estate Development' on Friday, September 14, 2007 at New Delhi.

| Comments (0)

Ishaan Real Estate Plc completes Completes £133 million Initial Portfolio Investment | INRnews

London, UK, September 10, 2007 - Ishaan Real Estate Plc ("Ishaan") announced that it has completed the investment in its initial portfolio. It has also secured leasing agreements with two leading multinational companies for 766,000 sq. ft. of the projects in the initial portfolio.

| Comments (0)

September 09, 2007

Real estate companies grow ad spend | INRnews

New Delhi, India, September 09, 2007 - The ad spend of real estate and telecom companies has grown the most among a host of sectors, says ASSOCHAM Eco Pulse (AEP) Study.

| Comments (0)

September 08, 2007

Delhi Airport Modernization Process on Track | INRnews

New Delhi, India, September 08 Sep, 2007 - Delhi’s dream of having a world class airport will soon be true. The modernization of the Indira Gandhi International Airport being carried out by Delhi International Airport (P) Limited is on schedule. A team of senior officials from the Ministry of Civil Aviation and Ministry of Urban Development visited the construction site to apprise themselves of the progress of the project. Currently, work is on simultaneously for the construction of a new domestic terminal, the modernization of the existing international terminal, a world class integrated passenger terminal (Terminal 3) and a third runway for the airport.

| Comments (0)

September 07, 2007

Arshhiya Tech to invest Rs 350cr in CFS & Logistics Park | INRnews

Mumbai, India, September 07, 2007 - Arshhiya Technologies International Ltd., an India based integrated supply chain services company with global presence (through it’s network of partners - BDP International and Genco), has announced the approval of the Ministry of Commerce & Industry, Department of Commerce, Infrastructure Division - Government of India for setting up a Container Freight Station (CFS) near JNPT Port for handling import and export cargo. The adjacent area will also include a Logistics Park. The cost of the proposed CFS and Logistics Park project will be approximately Rs. 350 crores.

| Comments (1)

CII organizes mega event on Green Buildings at Chennai | INRnews

Chennai, India, September 07, 2007 - CII – Sohrabji Godrej Green Business Centre is organizing its 5th edition of India’s flagship event on Green Building the “Green Building Congress” at the Chennai Trade Centre in Chennai. There are more than 800 participants including high profile architects, senior consultants, builders, contractors along with facility management groups, corporate, government representatives and institutions who are seeking active participation in the Congress.

| Comments (1)

Future Group launches ‘HomeTown’ – home improvement store, in Punjagutta, Hyderabad | INRnews

Hyderabad, India, September 07, 2007 - Home Solutions Retail (India) Ltd., a part of the Future Group, today, announced the launch of ‘HomeTown’, India’s most comprehensive home making/ home improvement store, at Punjagutta, Hyderabad. Spread over an area of about 1,83,000 sq.ft. (built up), HomeTown will provide consumers with all that goes into building a house and everything to make it a ‘Home’. HomeTown offers consumers largest choice and variety under one roof and a specialized team of experts to set it all up for them at their homes. In addition to retailing home improvement products, HomeTown will also provide services like electrical, plumbing, interior decoration, painting, etc. HomeTown will also have counters by Future Money, where consumers can avail of fast & easy finance on their purchases at HomeTown.

| Comments (0)

September 06, 2007

Parsvnath Developers offers its first commercial project in Hyderabad | INRnews

Hyderabad, India, September 06, 2007 - Parsvnath Developers Ltd has announced that on September 06, 2007, the Company has performed the Bhoomipujan Ceremony for Parsvnath 5-Star Hotel, Shopping & Office Complex on JNTU Hitech City road, Hyderabad (Andhra Pradesh).

| Comments (0)

September 05, 2007

Home Loan interest rates on the way down | INRnews

Mumbai, India, September 05, 2007 - Leading financial institutions are looking to reduce interest rates on home loans driven by a slump in demand in a year where interest rates have risen by 2.5%-3%.

| Comments (0)

Regularisation of unauthorised colonies in Delhi | INRnews

New Delhi, India, September 05, 2007 - The Government of National Capital Territory of Delhi (GNCTD) had invited applications from Societies/Associations of unauthorized colonies existing as on 31.3.2002 seeking regularization and received 1432 applications. Further, 107 applications have been received by the GNCTD in response to a later advertisement. GNCTD has informed that processing of these applications has been taken up.

| Comments (1)

Home loans likely to fall in India by over 6% In 07-08: ASSOCHAM | INRnews

Mumbai, India, September 05, 2007 - Rising home loan rates have severely impacted the housing sector as their growth has fallen to 26.6% in 2006-07 from 29.1% in 2005-06 and in the absence of suitable corrective measures, housing loans growth will further slow down between 17-20% in current fiscal.

| Comments (1)

Reebok Launches its Largest Store in the World in Hyderabad | INRnews

Hyderabad, India,September 05, 2007 - Reebok, the world’s leading sportswear brand launched its largest exclusive store that spans across 15000 sqft. Located at Jubilee Hills, Hyderabad, the store was inaugurated by Mr. Subhinder Singh Prem, Managing Director, Reebok India, followed by a fashion show unveiling their fall winter 2007 collection.

| Comments (1)

September 04, 2007

National Aviation Company to leverage real estate assets | INRnews

New Delhi, India, September 04, 2007 - The National Aviation Company (NACL), the entity formed by the merger of Indian Airlines and Air India, is looking to leverage its massive real estate assets across the country.

| Comments (0)

Vascon Engineers and Pricol Property to develop real estate projects in Coimbatore | INRnews

Coimbatore, India, September 04, 2007 - Vascon Engineers, a Pune-based developer, and Pricol Property Development from Coimbatore are to form a new company Vascon Pricol Infrastructure Ltd to develop real estate projects in Coimbatore with an investment of around Rs 700 crore.

| Comments (0)

Surana Telecom to develop IT Park in Hinjewadi, Pune | INRnews

Pune, India, September 04, 2007 - Surana Telecom Ltd has informed BSE that the Company has been allotted land admeasuring 4.94 Acres by Maharashtra Industrial Development Corporation (Government of Maharashtra Undertaking), at Rajiv Gandhi Infotech Park (an IT SEZ), Hinjewadi, Pune.

| Comments (0)

Rei Agro launches its Retail Chain in Punjab | INRnews

Chandigarh, India, September 04, 2007 - Rei Agro Ltd has announced that the Company has launched its retail chain called "6Ten" here in the state of Punjab and Haryana. The Company has started its operations in the state with the simultaneous opening of five stores in Chandigarh, Mohali & Punchkula on September 04, 2007.

| Comments (0)

Godrej Properties launches residential project in Bangalore | INRnews

Bangalore, India, September 04, 2007 - After numerous successful projects in Mumbai and Pune, Godrej Properties has now entered the Garden City of Bangalore with the development of Godrej Woodsman Estate. This development is strategically placed along the golden corridor of Hebbal & Devanhalli on the periphery of both the outer ring road and the 6-lane Golden Quadrilateral highway. Godrej Woodsman Estate rests in a large 15 acre area away from the noise and pollution of downtown Bangalore, yet within a 15-minute drive from premium schools, shopping centers and hospitals.

| Comments (0)

September 03, 2007

Ganesh Housing plans two more townships in Ahmedabad | INRnews

Ahmedabad, India, September 03, 2007 - Ganesh Housing Corporation Ltd has announced that the Company is planning to set up two more townships viz. at Village Ognaj, Sardar Patel Ring Road, Ahmedabad and at Village Adalaj, Near S G Road, Ahmedabad. These two townships will be spread over an approx. area of 185 acres and 100 acres respectively.

| Comments (0)

Parsvnath receives notification for Gurgaon IT SEZ | INRnews

Gurgaon, India, September 03, 2007 - Parsvnath Developers Ltd has announced that that the Company have received the final notification from the Central Government for the Company IT / ITES SEZ at Gurgaon (Haryana), in the name of the Company Subsidiary, Parsvnath SEZ Ltd. With this, the company now has 2 notified SEZs for IT / ITES sectors at Indore and Gurgaon.

| Comments (0)

CII in Taiwan to explore investment in Indian SEZ | INRnews

New Delhi, India, September 03, 2007 - Coinciding with the ‘Invest India Mission’ to Taiwan, a Confederation of Indian Industry (CII) business delegation led by Gopal Srinivasan, Director, TVS Electronics Limited, is currently in Taiwan on a three-day visit to project India as an attractive investment destination. The eleven-member team is exploring possibilities of Taiwanese investments in Indian Special Economic Zones, as that country is seen as one of the largest growing economies in Asia.

| Comments (0)

September 02, 2007

Madhya Pradesh industrial infrastructure to get a boost from DMIC project | INRnews

New Delhi, India, September 02, 2007 - Shri Kamal Nath, Union Minister of Commerce and Industry has accorded the approval to the Pitampura-Dhar-Mhow industrial region in “Delhi Mumbai Industrial Corridor” Project. In his communication to the Chief Minister of Madhya Pradesh, here today, Shri Kamal Nath has expressed confidence that with this approval, the state of Madhya Pradesh would join other front line states in developing the state-of-the-art Industrial infrastructure and investment environment in the country.

| Comments (0)

September 01, 2007

Himachal Pradesh highways project to make ride to Simla easy | INRnews

New Delhi, India, September 01, 2007 - The National Highways Authority of India (NHAI) has signed the Concession Agreement for 4/6-laning of Zirakpur-Parwanoo Section of NH-22 including Pinjore - Kalka - Parwanoo Bypass, in the States of Punjab (2 km), Haryana (21 km) and Himachal Pradesh (6 km) on Build Operate & Transfer (BOT) basis under National Highways Development Project (NHDP) Phase III.

| Comments (0)

August 31, 2007

Omaxe Ltd awarded Delhi Metro Rail tender for commercial development | INRnews

New Delhi, India, August 31, 2007 - Omaxe Ltd has announced that tender offer of the Company to the tender floated by Delhi Metro Rail Corporation Ltd (DMRC) for commercial development of Chawri Bazar Metro Station, has been accepted by DMRC.

| Comments (0)

Udhampur-Srinagar-Baramulla railway project to cost more | INRnews

New Delhi, India, August 31, 2007 - Railways’ ambitious project to connect Kashmir valley to rest of India through Udhampur-Srinagar-Baramulla railway track is going to cost more than what was estimated earlier.

| Comments (0)

August 30, 2007

DLF - DLF Hotels to bring Four Seasons to Gurgaon | INRnews

New Delhi, India, August 30, 2007 - DLF Ltd has announced that DLF Hotels, the hospitality arm of the Company, on August 30, 2007 announced that it has reached an agreement with Four Seasons Hotels and Resorts to operate a proposed luxury hotel at DLF Golf Links, in Gurgaon.

| Comments (0)

Parsvnath Launches PRIDEASIA township at Chandigarh | INRnews

Chandigarh, India, August 30, 2007 - Parsvnath Developers Ltd on August 30, 2007 has announced the launch of Parsvnath PRIDEASIA, a strategically located project in Chandigarh. With a realization value of approximately USD 1 billion (Rs 4100 crore), Parsvnath PRIDEASIA is an exquisitely designed luxurious township providing for aristocratic living. Located amidst Sukhna lake, golf course, an upcoming five star hotel and in the backdrop of Shivalik range, an investment in this project would provide much more value to its resident than just a luxurious and comfortable living.

| Comments (0)

40 hectares of railway land encroached in Delhi | INRnews

New Delhi, India, August 30, 2007 - There are 27000 numbers of encroachments covering an area of approximately 40 hectare of railway land. These encroachments have come up over various years. Various steps have been taken for removal of encroachments, which also include action under Public Premises (Eviction of Unauthorised Occupants) Act, 1971.

| Comments (1)

SAIL to set up greenfield steel plants in Jharkhand and chhatisgarh | INRnews

New Delhi, India, August 30, 2007 - Steel Authority of India Ltd. (SAIL) has planned to set up two greenfield plants, one each in the States of Jharkhand and Chattisgarh.  The plant in Jharkhand, envisages to achieve a capacity of 6 million tonne per annum by 2012-13 and 12 million tonne per annum by 2019-20.  The plant in Chattisgarh also envisages to have a capacity of 4 million tonne per annum and would be joint venture with RINL and NMDC.

| Comments (0)

BOA of SEZ grants 20 formal approvals and 7 in-principle approvals | INRnews

New Delhi, India, August 30, 2007 - The Board of Approval of the Special Economic Zones (SEZs) in its meeting held here today has recommended grant of 20 Formal approvals and  7 In-principle approvals. In all 31 applications for setting up SEZs, which included 4 proposals for conversion of in-principle approvals to formal approvals, were considered.

| Comments (0)

HDFC mobilises $800 million from its first sponsored International Real Estate Fund | INRnews

Mumbai, India, August 30, 2007 - Housing Development Finance Corporation Ltd (HDFC) on August 30, 2007 has announced the closing of its first sponsored international Real-Estate Fund, HIREF International LLC (the Fund) at USD 800 million. This shall make it one of the country's largest international real estate funds. The 9-year close-ended fund, open for subscription from only foreign investors was privately placed and was subscribed to by 28 investors.

| Comments (0)

India farmers protest for Western-style supermarkets | INRnews

Mumbai, India, August 30, 2007 - Hundreds of farmers gathered on Tuesday by an agricultural collection depot run by a top national retailer to call for India's most populous state to reopen Western-style supermarkets closed last week.

| Comments (0)

August 29, 2007

GMR Group announces significant reorganisation | INRnews

Bangalore, India, August 29, 2007 - GMR Group, one of India’s largest infrastructure developers today announced a significant reorganisation plan aimed at accelerating its ongoing institution–building focus and providing a greater impetus for its growth. Towards this the Group will continuously strengthen its leadership resources, governance and management practices.

| Comments (0)

HDIL to purchase 15 acres of property in Navi Mumbai | INRnews

Mumbai, India, August 29, 2007 - Housing Development & Infrastructure Ltd (HDIL) has announced that the Company has already entered into an MOU for purchase of 15 acres of property belonging to Eveready Industries Ltd situated at Navi Mumbai for a total consideration of Rs 115 crores. Subject to necessary approvals the transaction will be effected in stages over a period of time.

| Comments (0)

Allow MF/FIs To Launch DIFs For Infrastructure Building: ASSOCHAM | INRnews

New Delhi, India, August 29, 2007 - The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has suggested granting permission to mutual fund companies and financial institutions to launch Dedicated Infrastructure Funds (DIFs) with a view to mobilise resources to develop key sectors such as power, roads, rail, ports, airports to help India move  a higher growth trajectory of 10% during 11th plan period.

| Comments (0)

August 28, 2007

Nagarjuna Construction Company Limited raises US $150 million from The Blackstone Group | INRnews

Hyderabad, India, August 28, 2007 – Nagarjuna Construction Company Limited, a leading Indian construction company, today announced that its Board of Directors has approved an investment of US$ 150 million by The Blackstone Group funds. NCC will raise US$ 150 million through a fresh issue of shares and convertible warrants. Blackstone will have representation on the Board of NCC. Kotak Investment Banking and SSKI acted as the investment banking advisors to the Company and Blackstone, respectively, in the transaction.

| Comments (0)

August 27, 2007

Parsvnath Developers bags redevelopment project for Mahim Bus Terminus, Mumbai | INRnews

Mumbai, India, August 27, 2007 - Parsvnath Developers Ltd has announced that the Company has won another project from BEST, Mumbai to develop a plot of land at Mahim Bus Station, Mumbai for commercial and residential utilization along with remodeling of existing bus station.

| Comments (1)

August 25, 2007

IBM opens 295,000 sq ft facility in Chennai | INRnews

Chennai, India, August 25, 2007 - IBM (NYSE:IBM) today significantly expanded its operations in Chennai with the inauguration of the company's new Global Delivery Center by the Hon'ble Minister for Communications & Information Technology, Government of India, Thiru. A. Raja.

| Comments (0)

S S Lootah Group zeroes in on India for infrastructure projects | INRnews

Dubai, UAE, August 25, 2007 - The UAE-based multi-billion dollar business conglomerate, S. S. Lootah Group, which has varied investment interests across a broad spectrum of industries in the UAE, Asia, Africa and Europe, has zeroed in on Infrastructure, Oil and Gas, Energy, Information Technology and Health sectors in India and has identified potential partners after a four day visit to India.

| Comments (2)

August 24, 2007

CII says Uttar Pradesh orders on Retail will have adverse impact on pace of inclusive growth | INRnews

New Delhi, India, August 24, 2007 - The recent orders by the Uttar Pradesh Government on Retail sector will have adverse impact on the pace of inclusive growth of India, said the Confederation of India Industry (CII) here on Friday.

| Comments (0)

Nokia CEO opens healthcare center in Sriperumbudur SEZ in Chennai | INRnews

Chennai, India, August 24, 2007 - Mr. Olli-Pekka Kallasvuo, President and CEO, Nokia Corporation, the world leader in mobile communications, today laid the foundation stone of a state-of-the-art healthcare centre at the Nokia Telecom SEZ Park in Sriperumbudur, Chennai. Also present on the occasion were Mr. David Cheung, Vice President & Operations & Logistics, Nokia Asia Pacific, Mr. Sachin Saxena, Director, Operations, Nokia India and Mr. D Shivakumar, Vice President & Country General Manager, Nokia India.

| Comments (0)

3i Group plc to establish 3i India Infrastructure Fund | INRnews

Mumbai, India, August 24, 2007 - 3i Group plc (“3i” or the “Group”) announces that it is to establish the 3i India Infrastructure Fund (the “Fund”) to apply the successful investment strategy of 3i’s global infrastructure business to the rapidly growing Indian infrastructure market. The Fund is the first being established within the framework of the strategic partnership agreement announced by 3i and the India Infrastructure Finance Company Limited (“IIFCL”) last April.

| Comments (0)

August 23, 2007

ASSOCHAM Seeks Review Of Mayawati Decision on retail stores | INRnews

New Delhi, India, August 23, 2007 - The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has condemned the decision of UP government for closure of retail stores of various corporates. The decision of the state government will send adverse signals and might affect the development of the State.

| Comments (0)

Holcim plans to increase its stake in Ambuja Cements | INRnews

Mumbai, India, August 23, 2007 - Holcim plans to further expand its 32.3 percent stake in the Indian Group company Ambuja Cements Ltd (ACL) and acquires from the founding families another 3.9 percent of ACL at INR 154 per share corresponding to approximately USD 220 million. The purchase is subject to the approval of the Reserve Bank of India. The families will continue to hold a stake in ACL. They will stay closely engaged with Holcim and the company, and will further support the growth and development of Holcim's position in India. Suresh Neotia will continue as Chairman and Narotam Sekhsaria as Vice Chairman on the Board of Directors of ACL and will play a significant role for the benefit of the company.

| Comments (0)

Spencer’s to expand retail stores across Western region | INRnews

Mumbai, India, August 23, 2007 - The re-launch of Spencer’s Hyper at Inorbit Mall, Malad in June ’07 has been a phenomenal success. The re-designed store layout and the introduction of newer categories has increased traffic size to a whopping 2 lacs per month thus making it the most widely visited Spencer’s store across the country. Inspired by this success, Spencer’s has laid down strategic plans to expand its footprint across the Western region including Mumbai, Pune, Aurangabad and Ahmedabad. It also plans to foray into Vadodara and Nashik thereby increasing the overall trading area by an additional 1.2 lac sq feet within the next three months.

| Comments (0)

Era Constructions awarded Hyderabad Urban Development Authority highway contract | INRnews

Hyderabad, India, August 23, 2007 - Era Constructions India Ltd has announced that Era Infra Engineering Ltd (EIEL) jointly with Induni CIE & SA., a 100 year old Swiss company and an acknowledged market leader in the highway construction has bagged a prestigious order "Design, Construction, development, Finance, Operation and Maintenance of Eight lane access controlled highway under Phase-II A Programme as an extension of Phase I of ORR to Hyderabad City, in the State of Andhra Pradesh, India, for the package from Narsingi to Kollur from Km 0.00 to Km 12.00 on Build, Operate and Transfer (BOT) (Annuity) Basis through an Special Purpose Vehicle (SPV) Company M/s Hyderabad Ring Road Project Pvt. Ltd.

| Comments (0)

Mahindra Gesco appoints COO | INRnews

Mumbai, India, August 23, 2007 - Mahindra Gesco Developers Ltd. (MGDL), a subsidiary of the Mahindra Group, today announced the elevation of Ms. Anita Arjundas as Chief Operating Officer of Mahindra Gesco Developers Ltd. Ms. Arjundas has played a significant role in developing Mahindra World City, Chennai as the preferred destination for corporates in her capacity as the COO of India's first Special Economic Zone (SEZ). She will be based out of Chennai and will report to Mr. Pawan Malhotra, Managing Director & Chief Executive Officer of Mahindra Gesco.

| Comments (0)

August 22, 2007

Real estate major DLF bags Durgapur Township Project | INRnews

Durgapur, India, August 22, 2007 - DLF Ltd has announced that the Company has clinched the deal to develop an integrated town ship on 95 acres at Durgapur in the heart of the city. The public-private participation (PPP) project envisaged by the Asansol Durgapur Development Authority (ADDA), is expected to invite investment up to Rs 4,000 crore and is to be completed in four years.

| Comments (1)

Emaar MGF to develop hotel and convention center in Dehradun, Uttarakhand | INRnews

Dehradun, India, August 22, 2007 - Emaar MGF, one of India’s leading premier real estate developers, today signed an agreement with the Government of Uttarakhand, for designing, constructing and operating/ managing a five star hotel and convention centre in Dehradun. The five star hotel property and the convention centre is part of an integrated facility comprising retail and entertainment space spread across 10 acres of land and has been planned with an investment of Rs 200 crores over 2 years.

| Comments (0)

August 21, 2007

Infrastructure Lending becoming Top Priority of Commercial Banks | INRnews

New Delhi, India, August 21, 2007 - Led by power, roads & ports and telecom sectors, the credit disbursement by the  banks to the infrastructure sector has grown at an impressive compound annual growth rate of 31 per cent during the last six years but the maximum growth in the credit was witnessed in the last two years at 43 per cent and 36 per cent, according to The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

| Comments (0)

DLF unveils its first IT SEZ in Mihan, Nagpur | INRnews

Nagpur, India, August 21, 2007 - DLF Ltd has announced the launch of its first IT SEZ at Nagpur. DLF is developing state of the art, world-class facilities in Nagpur, Maharashtra on 140 acres of land. This is the second IT SEZ project in the state and will be followed by projects in other cities in Maharashtra.

| Comments (1)

National Capital Region Planning Board meets; approves plan outlay | INRnews

New Delhi, India, August 21, 2007 - The National Capital Region (NCR) Planning Board at its meeting today has approved a total plan outlay of Rs.1469 crore for 2008-09 on account of providing loan assistance to the participating states of U.P, Haryana, Rajasthan and NCT of Delhi and for undertaking studies, surveys and meeting expenses incurred in preparation of sub-regional plans and functional plans. This was stated by Shri S.Jaipal Reddy, Minister of Urban Development who chaired today’s meeting. The borrowing programme of Rs 900 crore for the above purposes has also been approved. The Board approved the proposed financing plan for the 11th Five year Plan involving loan assistance of Rs. 11000 crore for infrastructure projects for which the Board will be accessing funds to the extent of Rs. 8000 crore from the International Aid Agencies like World Bank and Asian Development Bank.

| Comments (0)

India to be established as a global aviation hub | INRnews

New Delhi, India, August 21, 2007 - The Government is committed to create a network of world-class airports in the country with a view to establishing India as a global aviation hub.  Measures have been taken to augment capacity as a result of which additional capacity to handle 601.05 lakh passengers per annum on the domestic sector and 301.80 lakh passengers per annum on international sector is under construction and is likely to be commissioned within the next two – three years. This information was given by Shri Praful Patel in a written reply to a question.

| Comments (0)

Ginger Hotel opened in Agartala, Tripura | INRnews

Agartala, India, August 21, 2007 - The Indian Hotels Company Limited (IHCL) today unveiled its GenNext ‘Smart Basics’ Hotel - ‘GINGER’ at Khejurbagan in Agartala in the presence of Shri. Manik Sarkar, Honourable Chief Minister of Tripura and Mr. Prabhat Pani, Chief Executive Officer,Roots Corporation Limited and other dignitaries.

| Comments (1)

Ansal API performs bhoomipujan for Doondahera, Ghaziabad real estate project | INRnews

Ghaziabad, India, August 21, 2007 - Ansal API the leading real estate developers of the country, today performed the earth breaking ceremony for Aquapolis, a high-end residential township in Doondahera, Uttar Pradesh. Bookings for residential plots in this township are now open.

| Comments (1)

Lanco Infratech to construct new airport terminal in Varanasi | INRnews

Varanasi, India, August 21, 2007 - Lanco Infratech Ltd has announced that the Company received letter of acceptance from Airports Authority of India awarding the Company the work for the Construction of a new Terminal Building at Varanasi Air Port at negotiated amount of Rs 82.39 Crores.

| Comments (0)

GMR Hyderabad International Airport Ltd incorporates three subsidiaries | INRnews

Hyderabad, India, August 21, 2007 - GMR Infrastructure Ltd has announced that GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of the Company, has incorporated the following three wholly owned subsidiary Companies for the objects specified against them respectively.

| Comments (0)

August 20, 2007

Sobha Developers to build Kochi township in massive Kerala real estate deal | INRnews

Kochi, India, August 20, 2007 - Sobha Developers Ltd has announced that the Company will be signing a Memorandum of Understanding (MOU) with the Government of Kerala on August 20, 2007 at Thiruvananthapuram for setting up the largest township development in Maradu, Kochi - SOBHA HITECH CITY. Maradu is a high potential part of Kochi City with a number of  developments including five star hotels, shopping malls and IT parks coming up here.

| Comments (0)

Dharavi Redevelopment Project in Mumbai attracts interest from real estate developers | INRnews

Mumbai, India, August 20, 2007 - Over 20 real estate developers are likely to bid for the massive Dharavi Redevelopment Project that envisages a potential of 70 million sq ft built-up space. According to news reports, over Rs 1,000 crore could be raised from all five sectors. The government will award only  one sector per developer. The bidding is to begin before October.

| Comments (1)

Pantaloon to raise funds; plans IPO of Future Capital finance unit | INRnews

Mumbai, India, August 20, 2007 - Leading Indian retailer Pantaloon Retail India Ltd has announced that it would sell shares and warrants to investors and founders of the company to raise over $300 million and also sell 10% of Future Capital Holdings.

| Comments (0)

Ansal Properties signs agreement with IIML for Gurgaon real estate projects | INRnews

Mumbai, India, August 20, 2007 - Ansal Properties & Infrastructure Ltd, a leading real estate developer in India, has announced that the Company has signed two Agreements with IL&FS Investment Managers (IIML), the private equity arm of IL&FS to develop two Projects of Township and IT SEZ in Gurgaon, Haryana.  The agreement was singed in Mumbai by Mr.Pranav Ansal, Director, Ansal API with IILM.

| Comments (0)

HDIL enters into MOU for purchase of 8 acres in Bhandup, Mumbai | INRnews

Mumbai, India, August 20, 2007 - Housing Development & Infrastructure Ltd (HDIL) has announced that the Company has already entered into an MOU for purchase of 8.32 acres of property belonging to Kilburn Engineering Ltd situated at Bhandup for a total consideration of Rs 124,70,00,000. Subject to necessary approvals the transaction will be effected in stages over a period of time.

| Comments (0)

Ansal Housing launches residential project in Karnal, Haryana | INRnews

Karnal, India, August 20, 2007 - Ansal Housing & Construction Ltd has announced that the Company has performed Bhoomipujan of "Ansal Town" at Karnal (Haryana) August 19, 2007. This marks the beginning of construction of fully equipped Residential Project that integrates state-of-art lifestyle with world-class features.

| Comments (4)

Kalpataru Properties wins CNBC Awaaz-CRISIL Real Estate Award | INRnews

Mumbai, India, August 20, 2007 - Kalpataru Properties Pvt. Ltd., one of the top 10 developers in India today, has won awards for both the Best Residential Property and Best Organization Structure at the CNBC Awaaz- Crisil Real Estate Awards 2007 held at Taj Landsend on August 16, 2007. Kalpataru was awarded out of 175 entries for the Best Residential property and the Best Organization Structure award out of 15 entries. 

| Comments (0)

IQMS Software to set up IT Convention Centre near Mumbai | INRnews

Mumbai, India, August 20, 2007 - IQMS Software Ltd hasannounced that the Company is embarking on setting up an Information Technology Convention Center nearby Mumbai.

| Comments (0)

August 17, 2007

India Property 2007 exhibition to be held in USA and Canada | INRnews

Mumbai, August 17, 2007: The Confederation of Real Estate Developers Association of India (CREDAI) has announced India Property 2007 – USA & Canada, in association with Maharashtra Chamber of Housing Industry (MCHI). This exhibition is the only and truly government recognized Pan India official exhibition to be organized in USA and Canada. The exhibition will be held in Santa Clara, Toronto and New Jersey.

| Comments (1)

ICICI Bank Home Loans to organize Home Utsav in Delhi | INRnews

Mumbai, India, August 17, 2007 - ICICI Bank Home Loans will be organizing ‘Property Maha Utsav’, a mega property exhibition from August 17 to 19, 2007 at Hotel Taj Palace in Delhi. The ‘Home Utsav’ will be open between 10 a.m. and 8 p.m. on all the days. ICICI Bank is bringing the top 30 builders of Delhi for the event and more than 4000 prime properties will be on display. A convention has also been organised on August 18 on  "Real Estate Housing & Finance: Trends, Tools and Opportunities", which will be addressed by eminent personalities, to discuss various issues concerning real estate development, finance and reforms.

| Comments (0)

National Housing Bank guidelines for reverse mortgage loans | INRnews

Mumbai, India, August 17, 2007 - Senior Citizens are an increasing component of the Indian society and dependency in old age is increasing in the country. While on the one hand, there is significant increase in longevity and low mortality, on the other hand cost of good health care facilities is spiraling and there is little social security. Senior Citizens need a regular cashflow stream for supplementing pension/other income and addressing their financial needs. Secular increase in residential house prices has created considerable “home equity “wealth. For most Senior Citizens, the house is the largest component of their wealth.  Conceptually, Reverse Mortgage seeks to monetize the house as an asset and specifically the owner's equity in the house.

| Comments (5)

Sahara and Carlson Hotels Worldwide to establish Radisson in Lucknow | INRnews

New Delhi, India, August 17, 2007 - Sahara India Club Royale Corporation Limited, the hotel business wing of Sahara Infrastructure and Housing has entered into an ‘Management and License Agreement’ with global leader in Hospitality services Carlson Hotels Worldwide, to establish Radisson Hotel at Sahara City Homes, Lucknow. Situated at the ultra modern Sahara City Homes, Lucknow Township, the hotel will be called ‘Radisson Hotel Lucknow Sahara City Homes’.

| Comments (0)

Indiabulls Real Estate plans projects across India | INRnews

Mumbai, India, August 17, 2007 - Indiabulls Real Estate Limited (IREL) with projects covering a total land area in excess of 10000 acres is one of the largest listed real estate companies in India and a leading national player across multiple realty and infrastructure sectors. IREL projects include High-end Office and Commercial Spaces, Premium Residential Developments, Integrated Townships, Luxury Resorts and Special Economic Zones. INRnews summarises the various projects Indiabulls Real Estate is undertaking.

| Comments (11)

August 16, 2007

Delhi Master Plan-2021 to ensure housing for all | INRnews

New Delhi, India, August 16, 2007 - The Master Plan for Delhi-2021 aims to ensure housing and  shelter options for all categories of people.  The proposed housing   strategy   incorporates    specific   approaches   for development  of new housing areas, upgradation and re-densification of existing  housing areas   including  unauthorised  colonies,  housing in villages and  Special  Area.

| Comments (0)

Delhi Mumbai Industrial Corridor project given approval | INRnews

New Delhi, India, August 16, 2007 - The Union Cabinet today gave in principle approval to the following proposals in regard to Delhi Mumbai Industrial Corridor (DMIC) Project outline :

| Comments (0)

INOX launches single screen theatre in Santacruz, Mumbai | INRnews

Mumbai, India, August 16, 2007 - After reigning supreme in South Mumbai with its flagship property at Nariman Point, INOX fans in the suburbs are set for a treat as INOX launches its second movie theater in Mumbai at the Milan Mall, Santacruz. INOX at Milan Mall is a single screen theatre with 420 seats and is the 18th property in the INOX chain.

| Comments (0)

INOX Leisure opens new multiplex at Raipur, Chhattisgarh | INRnews

Raipur, India, August 16, 2007 - Lights...Camera...Action! First multiplex in Chhattisgarh!

| Comments (1)

DLF strikes the largest real estate deal with potential value in excess of Rs 12,000 crores | INRnews

New Delhi, India, August 16, 2007 - DLF Ltd has announced that the Company has entered into an agreement to acquire a project consisting of 38 acres of land from DCM Shriram Consolidated Ltd. "DSCL" & Lohias Group for Rs 1,675 crores (approx). The property was a landmark known as Swatantra Bharat Mills and DCM Silk Mills. As per internal estimates of the Company, this acquisition coupled with the previous acquisition of contiguous plots, will add Rs 4,000 crores to its NAV. It will also increase the NAV of the existing IT SEZ project by Rs 1000 crores, thereby the total cumulative NAV increasing by Rs 5,000 crores.

| Comments (0)

Delhi mill land to be sold to DLF in Rs 1600 crore real estate deal | INRnews

New Delhi, India, August 16, 2007 - Indian real estate major DLF Ltd is close to finalising the largest private sector land deal in the country. According to the Economic Times, DLF is to purchase about 38-acres of Delhi mill land from DCM Shriram Consolidated for Rs 1,600 crore.

| Comments (0)

DCM Shriram Consolidated sells its share in SBM Land Redevelopment Project, Delhi | INRnews

New Delhi, India, August 16, 2007 - DCM Shriram Consolidated Ltd (DSCL) an integrated business group, with extensive and growing presence across the entire agri-rural value chain and chloro-vinyl industry, at its Board Meeting today approved the sale of its 50% rights, title and interests in SBM Land Redevelopment Project. The company simultaneously signed binding agreements with M/s BES Buildcon (P) Ltd., New Delhi (a subsidiary of M/s. DLF Ltd), for the transaction.

| Comments (0)

August 15, 2007

Delhi govmt proposal for use of farmhouses for social functions | INRnews

New Delhi, India, August 15: THE Delhi government has submitted to the High court for approval interim guidelines for the use of farmhouses to host social functions such as weddings and parties. The Delhi High court had in Dec '05 passed an interim ban on farmhouses located on roads less than 60 feet wide to hold social functions.

| Comments (0)

Raheja Developers to launch 6000 apartments in Gurgaon | INRnews

Gurgaon, India, August 15, 2007 - Raheja Developers is to launch over 6000 apartments in various sectors of Gurgaon.

| Comments (3)

Infiniti Retail acquired 4 properties in Mumbai and Pune | INRnews

Mumbai, India, August 15, 2007 - Infiniti Retail, a subsidiary of Tata Sons, which runs Croma — a countrywide chain of multi-brand consumer electronics and durables, has acquired four properties in Pune and Mumbai.

| Comments (0)

Kerala to set up IT Parks in all districts - CM | INRnews

Thiruvananthapuram, India, August 15, 2007 - The Kerala Chief Minister V.S. Achuthanandan has said that the Government plans to set up IT parks in all the districts of the State with a view to making a quantum leap in the IT sector.

| Comments (0)

August 14, 2007

Indu Projects to build integrated township in Hyderabad | INRnews

Hyderabad, India, August 14, 2007  - Indu Projects Limited (IPL), a Hyderabad-based infrastructure company, has launched ‘Indu Aranya’, an integrated township being built at a cost of over Rs 600 crore. 

| Comments (1)

Ansal Housing performs Bhoomipujan of "Ansals Courtyard" at Meerut, Uttar Pradesh | INRnews

Meerut, India, August 14, 2007 - Ansal Housing & Construction Ltd has announced that the Company has performed Bhoomipujan of Ansals Courtyard at Meerut (U.P.) August 14, 2007. This marks the beginning of construction of fully equipped Residential Complex that integrates world-class infrastructure with the peaceful ambience of a small town. The project turnover is approximately Rs 65 Crores.

| Comments (2)

Puducherry gets new Mphasis BPO facility | INRnews

Puducherry, India, August 14, 2007 - Airtel and MphasiS have jointly announced the inauguration of a new BPO facility in Puducherry. This state-of-the art contact center will serve as a customer service centre for Airtel customers in Tamil Nadu. The facility has begun the operation with 300 customer service agents.

| Comments (0)

Vedanta Group to set up Cancer Hospital in Raipur, Chhattisgarh | INRnews

Raipur, India, August 14, 2007 - The promises made to the people and the state of Chhattisgarh by Vedanta chairman, Anil Agarwal one year ago on the occasion of signing a MoU between the State Government of Chhattisgarh and Bharat Aluminium Company Ltd. (BALCO), for setting up a 1200 MW coal based power project have all been met.

| Comments (0)

Fortis HealthWorld signs rural retail outlet in Mandi Ahmedgarh | INRnews

Mumbai, India, August 14, 2007 - Fortis HealthWorld, the one stop healthcare retail chain today initiated its plans to reach rural India by signing their first FHWL health stores in Mandi Ahmedgarh. This store is the first of many such stores that FHWL will open in rural India through its tie up with Hariyali Kisaan Bazaar, a unit of DCM Shriram Consolidated Ltd.

| Comments (0)

Reliance Retail launches hypermarket in Ahmedabad | INRnews

Ahmedabad, India, August 14, 2007 - Reliance Retail Ltd. launched it’s much awaited format and India’s largest hypermarket under the brand name “RelianceMart” at Iskon Mall, SG Highway, Ahmedabad today. After the successful launch of the supermarket format “Reliance Fresh” and the consumer electronics concept mega store “Reliance Digital”, the hypermarket is the third retail format launched by Reliance Retail.

| Comments (0)

Rajasthan to regularise residential colonies built on agricultural land | INRnews

Jaipur, India, August 14, 2007 - The Rajasthan State Government has a recent cabinet meeting decided to provide concessions in regularisation of residential colonies built on land meant for agricultural use.

| Comments (0)

Durgapur township to be developed by DLF | INRnews

Durgapur, India, August 14, 2007 - Real estate major DLF Ltd is to develop a 95-acre township on a prime land parcel at City Centre in Durgapur, West Bengal.

| Comments (0)

Parsvnath Developers to raise short-term funds | INRnews

Mumbai, India, August 14, 2007 - Parsvnath Developers Ltd has announced that the Board of Directors of the Company at its meeting held on August 10, 2007 has approved the raising of short-term funds by way of issue of Non-convertible Debentures / Bonds on Private Placement basis for an aggregate amount not exceeding Rs 300 Crores with a tenure of less than 365 days.

| Comments (0)

Textile Companies spinning land deals | INRnews

New Delhi, India, August 14, 2007 - If you owned a textile mill and the plodding apparel manufacturing business was overtaken swiftly by real estate gunners, what would you do? Leap in with the competition perhaps? That is exactly what a lot of erstwhile textile-only firms are doing. It is an option that works both ways. Real estate giants scouting for increasingly scarce land are a perfect fit for land-owning millers without developer expertise.

| Comments (0)

August 13, 2007

Era commences Rs 6 billion realty projects in Meerut | INRnews

Meerut, India, August 13, 2007 - Era Landmarks (India) Limited (ELIL), erstwhile known as Era Infrastructure (India) Ltd. (EIIL) has embarked upon an ambitious Rs 6000 mn realty project in Meerut which includes two integrated townships along with a shopping mall and multiplex. Targeting the middle and the upper middle class, ELIL is going to develop two townships - Era Aspen Garden and Era Gardenia Estate, in addition to the ‘Era Mall’. 

| Comments (2)

Omaxe Ltd enters into agreement for commercial development with Vishal Retail | INRnews

New Delhi, India, August 13, 2007 - Leading real estate developer Omaxe Limited has entered into a Consortium Agreement / Memorandum of Agreement with Vishal Retail Ltd on August 04, 2007 for filing tender documents for "Commercial Development at Chawri Bazar" invited by Delhi Metro Rail Corporation Ltd.

| Comments (0)

Leisure Real Estate Symposium to be held in Delhi | INRnews

New Delhi, India, August 13, 2007 - Group RCI, the global leader in non-hotel leisure accommodations, today announced they would be hosting their first Leisure Real Estate Symposium in India in New Delhi in August.

| Comments (0)

August 12, 2007

TCS enters into MoU with Tata Realty and Infrastructure | INRnews

Mumbai, India, August 12, 2007 - Tata Consultancy Services Ltd (TCS) has announced that the Company and Tata Realty And Infrastructure Ltd (TRIL) have entered into a Memorandum of Understanding (MoU) under which the Company proposes to commission TRIL to develop for the Company properties on land owned / to be owned by the Company. 

| Comments (0)

August 11, 2007

Omaxe launches ultra-premium apartments and penthouses in Noida | INRnews

Noida, India, August 11, 2007 -  Real estate major  Omaxe Ltd has announced that M/s. Omaxe Buildhome Pvt Ltd (a wholly owned subsidiary of the Company) proposes to launch soon Ultra Luxury Premium Apartments and Penthouses "The Forest Spa" of Omaxe Grandwoods at Sector 93B, Noida, U.P. "The Forest Spa" will consist of 176 ( approx.) units with area ranging from 2850 sq. feet to 6500 sq. feet over approximately 8 acres of area.

| Comments (0)

August 10, 2007

Ocean Park Group enters Visakhapatnam real estate | INRnews

Visakhapatnam, India, August 10, 2007 - Ocean Park Group of Companies, the Hyderabad based group known for its unique projects and many of India’s FIRSTS and LANDMARK PROJECTS expands to Visakhapatnam, one of the top five fastest growing towns in the country.

| Comments (1)

Real estate majors vie for storied Boat Club plot in Chennai | INRnews

Chennai, India, August 10, 2007 - A news report from CNBC-TV18 suggests that Indian real estate biggies such as DLF, Sobha Developers and HDFC Realty are in the race for an 8.26 acre plot in Chennai valued at Rs.600-650 crore.

| Comments (0)

Infosys IT SEZ amongst 6 approvals granted | INRnews

New Delhi, India, August 10, 2007 - The Board of Approval of the Special Economic Zones (SEZs) met on August 8 to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs.  In this meeting, 8 applications for setting up SEZs, including 3 proposals for conversion of in-principle approvals to formal approvals were considered.  The Board recommended grant of 4 Formal approvals, including two IT/ITES SEZ by Infosys, and 2 In-principle approvals.

| Comments (0)

August 09, 2007

Haier launches first refrigerator & R&D facility in India | INRnews

Pune, India, August 09, 2007 - Haier, the largest manufacturer of refrigerators worldwide*, today announced the launch of its first manufacturing facility in India as part of the company's plans to expand operations in the country. The new manufacturing facility is located at Ranjangoan in Pune district of Maharashtra.

| Comments (0)

SEZs a boon for economic growth and infrastructure development: EPCES | INRnews

Mumbai, India, August 09, 2007 - According to a Research study conducted by Export Promotion Council for EOUs and SEZ Units (EPCES) the Government Policy on Special Economic Zones is here to stay and is one of the most promising opportunities for generation of Employment, Economic Growth and Infrastructure Development for the country.

| Comments (0)

Omaxe Ltd IPO oversubscribed 68 times, lists at 29% premium to offer price | INRnews

Mumbai, India, August 09, 2007 - Omaxe Limited, an ISO 9001:2000 certified real estate development and construction company with operations in 30 cities and 9 states in India, made its debut on the Bombay Stock Exchange by opening at Rs. 400 (29% above its offer price of Rs. 310 per equity share) and ending the debut trading day at Rs. 349.95. The scrip touched an intra-day high of Rs. 410. The total traded quantity on Day 1 was 12,103,517 shares.

| Comments (0)

Delhi property prices stable in the second quarter | INRnews

Delhi, India, August 9, 2007 - Property prices in Delhi and Gurgaon have been stable in the second quarter of 2007 while there has been a moderate increase in rental values during the same period according to real estate services firm Colliers International.

| Comments (0)

Mumbai property prices decline in the second quarter of 2007 | INRnews

Mumbai, India, August 9, 2007 - The Mumbai real estate market witnessed a slowdown in the second quarter of 2007 with a decline in property prices.

| Comments (0)

August 08, 2007

Bids for the sale of HUL's Brookfields property open | INRnews

Bangalore, India, August 08, 2007 - Hindustan Unilever has been offloading prime real estate assets across the country. The latest to head for the auctioneers' block is its extensive 28-acre property in Whitefield, Bangalore. Brookfields was formerly Brooke Bond's corporate headquarters.

| Comments (0)

MTNL to develop 19-acre Core Knowledge Park at Noida | INRnews

Noida, India, August 08, 2007 - Mahanagar Telephone Nigam Ltd (MTNL) has announced that the Company and Consortium of IDEB-SUCG Knowledge Park Pvt Ltd have joined hands for joint development of the Company's plot situated at B-3, Institutional Area, Sector-62, Phase-II, Noida (U.P) measuring approx. 19.76 acres, for training center named as Core Knowledge Park within the terms of lease of the land. An agreement to this effect has been signed on August 07, 2007.

| Comments (0)

August 07, 2007

GTM Group plans Jaipur real estate foray | INRnews

Jaipur, India, August 07, 2007  - India's builders continue to plan and construct large and grandiose projects. Delhi-based GTM Group is planning to erect a corporate and institutional hub in Jaipur. The Group claims it is a unique concept and a first in the country. The Rs.60-crore project plans to marry work with leisure. The 11,965 sq.mtrs corporate centre will have a club house with an indoor swimming pool and a centrally air-conditioned mini-mall.

| Comments (0)

August 06, 2007

Big Bazaar Opens Fourth Store In Pune | INRnews

Pune, August 6, 2007:  Pantaloon Retail (India) Limited, a part of the Future Group, further enhanced its reach to the masses in Pune with the launch it’s popular and largest chain of hypermarket store - Big Bazaar, today. With this, Big Bazaar now has four stores in Pune, including one in Pimpri Chinchwad, while the count goes up to nine for the Rest of Maharashtra (excluding Mumbai). 

| Comments (0)

GMR Infrastructure signs MOU with TIDCO for a Multi Product Special Economic Zone (SEZ) in Tamil Nadu | INRnews

Chennai, India, August 06, 2007 - GMR Infrastructure Ltd has announced that the Company on August 06, 2007 entered into an Memorandum of Understanding (MOU) with Tamil Nadu Industrial Development Corporation (TIDCO) for the development of a Multi Product Special Economic Zone (SEZ) in Krishnagiri District, Tamil Nadu. The signing ceremony was done in the presence of the Chief Minister of Tamil Nadu, Shri. M Karunanidhi at the Secretariat in Chennai.

| Comments (0)

Wal-Mart and Bharti join hands to form retail JV in India | INRnews

New Delhi, India, August 6, 2007 - Bharti Enterprises and Wal-Mart Stores, Inc. today announced that they have signed an agreement to establish Bharti Wal-Mart Private Limited, a joint venture for wholesale cash-and-carry and back-end supply chain management operations in India, in line with Government of India guidelines.  Under the agreement, Bharti and Wal-Mart will hold a 50:50 stake in Bharti Wal-Mart Private Limited.

| Comments (0)

August 03, 2007

Punj Lloyd forays into Real Estate Development; Enters into MOU for JV with Ramprastha Group | INRnews

New Delhi, India, August 03, 2007 - Punj Lloyd, a global EPC player in the energy and infrastructure sector, has signed a Memorandum of Understanding with the Ramprastha Group for the development of multi-storied residential housing through a 50:50 joint venture (JV) of Punj Lloyd (or its affiliates) and the Ramprastha Group.

| Comments (0)

Entertainment park to come up in Noida | INRnews

Noida, India, August 03, 2007 - Noida is to get an entertainment park built by IRPPL (International Recreation Parks Pvt.Ltd). The park will cover 150 acres and have a capacity to take in 1.8 million visitors annually. Its design accomodates an amusement park and commercial space. Phase 1 of the project Noida Entertainment City was to open in July. Another E-park is to be set up in Rohini, also by IRPPL.

| Comments (0)

August 02, 2007

GHIAL ties up with Apollo Hospitals for setting up medical centre in Hyderabad International Airport | INRnews

Hyderabad, India, August 02, 2007 - In line with its commitment to providing full services to air passengers and employees in the new international airport in Shamshabad, GMR Hyderabad International Airport Limited (GHIAL) has selected Apollo Hospitals for setting up a medical centre inside the Passenger Terminal Building (PTB).

| Comments (1)

August 01, 2007

Indian infrastructure needs $320 bn in the next 5 years | INRnews

Mumbai, India, August 01, 2007 - Dun & Bradstreet, the world’s leading provider of global business information, knowledge and insight today organized a conference on Dynamics of Infrastructure & Real Estate Markets: The Financial Perspective. With the Indian economy expected to grow at a rate of about 9% per annum over the next five years this conference stressed on the importance of infrastructure development as the key driver to sustain this momentum of current and potential economic growth.

| Comments (0)

July 31, 2007

Lemon Tree to open 6 hotels in India next year | INRnews

Mumbai, India, July 31, 2007 - Hotel chain Lemon Tree plans to launch six hotels across metro cities including Ahmedabad, Chennai, Delhi, Hyderabad, Jaipur and Mumbai by 2008 and 14 properties across 12 cities by 2010.

| Comments (0)

Infrastructure identified as priority area by IFC | INRnews

New Delhi, India, July 31, 2007 - IFC, a member of the World Bank Group, today reaffirmed its commitment to contribute to India’s economy by expanding its investments in private enterprises in the sectors where IFC is needed most. IFC Vice Presidents Farida Khambata and Declan Duff joined South Asia Director Paolo M. Martelli in India this week to discuss with government and private sector partners how to move ahead with IFC’s growing focus on India’s infrastructure, midsize companies, and financially underserved markets.

| Comments (0)

Eredene Capital to invest up to INR 1,312 million in Mumbai low income housing | INRnews

London, UK, July 31, 2007 - Eredene Capital PLC (Symbol: ERE), the AIM quoted Indian real estate investor, today announced that its wholly-owned subsidiary Aboyne Mauritius Limited (together “the Eredene Group”) has entered into an agreement to invest up to INR 1,312 million (GBP 16.4 million) in the development of up to approximately 185,000 low income residential units on the outskirts of Mumbai where there is rising demand for affordable homes within commuting distance of the city.

| Comments (0)

July 30, 2007

Parsvnath Developers records 180% increase in net profit at Rs 102 crore for Q1 FY08 | INRnews

New Delhi, India, July 30, 2007 - Parsvnath Developers Ltd, India’s leading real estate developer with a pan India presence, recorded consolidated revenues of Rs 414.46 crore for the quarter ended June 30, 2007, an increase of 66.44% from Rs 249.01 crore in the corresponding quarter last fiscal. EBITDA was at Rs 152.14 crore, an increase of 162.31% as compared to Rs 58 crore in Q1 FY07. Net profit stood at Rs 102.18 crore, up by 179.56% from Rs 36.55 crore. The non annualized EPS at the end of the quarter was at Rs 5.53.

| Comments (0)

July 26, 2007

Mumbai property market to see price correction | INRnews

Mumbai, India, July 26, 2007 - The Mumbai residential property market is expected to see a marginal correction in capital and rental values during the coming year according to real estate services firm Cushman & Wakefield. This is likely to affect the price-sensitive pockets of the city more than high-end destinations. The greater challenge will be the limited infrastructure that has not kept pace with the growth of the city.

| Comments (0)

Ascendas to launch Singapore's first listed Indian property trust | INRnews

Singapore, July 26, 2007 - Ascendas India Trust (A-iTrust) is launching an IPO to raise SG$500 million. Ascendas India Trust (a-iTrust) is the first Singapore-listed Indian property trust and provides investors an opportunity to invest in India’s fast-growing economy. The trust has a tax-exempt dividend of 4.75% in its forecast year Apr 1 - Mar 31 2008. A-iTrust is offering 423 million shares at $1.18 Singapore each.

| Comments (0)

DLF to develop its first IT SEZ in Gandhinagar, Gujarat | INRnews

Gandhinagar, India, July 26, 2007 | DLF Ltd., India’s largest real estate developer, today, announced the launch of its first IT SEZ at Gandhinagar in Gujarat. DLF is developing state of the art, world-class facilities in Gandhinagar covering an area of 25 acres of land and offers 2.5 million sq ft of developed workspace, with an estimated investment of Rs. 850 crores, the IT SEZ project will be developed over two phases.

| Comments (3)

Big Bazaar hypermarket opened in Darjeeling | INRNews

Darjeeling, India, July 26, 2007 | Pantaloon Retail (India) Limited, a part of the Future Group, today announced its entry in the Queen Of Hills – Darjeeling with the opening of country’s largest chain of hypermarket store – BIG BAZAAR.

| Comments (0)

July 25, 2007

Fair, efficient land acquisition and resettlement policy must for infrastructure projects says IFC | INRnews

New Delhi, India, July 25, 2007 - Senior social scientist at the World Bank, Asger Chistensen called for a fair, equitable and efficient land acquisition and resettlement policy for smooth economic growth and rapid infrastructure development. He was addressing an international workshop on 'Global Best Business Practices: Land Acquisition, Resettlement and Rehabilitation,' organised by the Confederation of Indian Industry here on Wednesday.

| Comments (0)

Listing of equity shares of Housing Development and Infrastructure Ltd | INRnews

Mumbai, India, July 25, 2007 - Effective from July 24, 2007, the equity shares of Housing Development and Infrastructure Ltd (Scrip Code: 532873) are listed and admitted to dealings on the Bombay Stock Exchange in the list of 'A' Group Securities.

| Comments (0)

Omaxe Limited IPO: Issue Price fixed at Rs. 310 per Equity Share | INRnews

Mumbai, India, July 25, 2007 - Omaxe Limited, an ISO 9001:2000 certified real estate development and construction company with operations in 30 cities and 9 states in India, has fixed the Issue Price at Rs. 310 per Equity Share (upper end of the Price Band) following the successful completion of the 100% Book Building process for its Initial Public Offer of upto 17,796,520 equity shares (the “Issue”) of Rs. 10 each for cash. The Issue also has a Green Shoe Option of an additional 1,750,000 Equity Shares at a price of Rs. 310 each. The Bid/ Issue closed for subscription on July 20, 2007.

| Comments (0)

IDFC & IIFCL enter into MoU to finance infrastructure projects | INRnews

Mumbai, India, July 25, 2007 - Infrastructure Development Finance Company Limited (IDFC) and India Infrastructure Finance Company Limited (IIFCL) have entered into a Memorandum of Understanding (MoU) to combine their resources and expertise to finance infrastructure projects.

| Comments (0)

July 24, 2007

IDFC partners FTSE in creation of New India Infrastructure Index Series | INRnews

Mumbai, India, July 24, 2007 - Infrastructure Development Finance Company Ltd (IDFC) has informed BSE that the Company has partnered with FTSE to launch the First India Infrastructure Index. The "FTSE IDFC India Infrastructure Index Series" was launched on July 24, 2007 by the Hon. Union Finance Minister, Mr. P Chidambaram at New Delhi.

| Comments (0)

Maharashtra government tables draft housing policy | INRnews

Mumbai, India, July 24, 2007 - The Maharashtra Government has tabled a draft housing policy in the Legislative Assembly yesterday. Significant policy measures proposed include encouraging private investment in the housing sector, facilitating township development on the peripheries of cities, raising FSI limits, ensuring sale of apartments is on carpet-area basis only, allowing non-agriculturists to buy land, and no ceiling limits for holding land. Continue reading this article to view the full draft of the housing policy.

| Comments (0)

July 23, 2007

Indian Real Estate sector needs liberation, not regulation says CII | INRnews

Mumbai, India, July 23, 2007 - Would you believe that the simplest way of reducing real estate prices may be to just do away with regulations altogether? Seriously, regulation constitutes a significant percentage - about 23% of the total project cost - in the real estate sector according to a study cited by K Srinivas, Managing Director, Gujarat Urban Development Co. Ltd., recently at CII 'Realty 2007', the Real Estate Conference organized by Confederation of Indian Industry.

| Comments (0)

Ambika Soni invites Indonesian investment in hotel sector in India | INRnews

New Delhi, India, July 23, 2007 - A high level 15 member Indonesian Parliamentarian Delegation led by Mr. Abdul Hakam Naja, Vice Speaker of the Commissioner called on the Tourism and Culture Minister Smt. Ambika Soni here today. The Minister invited Indonesian participation in hotel construction indicating that with 100% FDI allowed in this sector $6.5 billion investment is already in the pipeline.

| Comments (2)

Corporation Bank reduces home loan rates by a quarter percent | INRnews

Mumbai, India, July 23, 2007 - Karnataka-based Corporation Bank has cut interest rates on fresh floating home loan rates by 25  basis points.

| Comments (0)

July 22, 2007

FICCI to hold International Real Estate Summit in Mumbai in September | INRnews

Mumbai, India, July 22, 2007 - The Federation of Indian Chambers of Commerce and Industry (FICCI) is back with its fourth annual International Real Estate Summit to be held on 27 and 28, September 2007 at Hotel Hilton Towers, Mumbai, India.

| Comments (0)

July 21, 2007

Sahara City Homes brings township to Indore and Nagpur | INRnews

Nagpur, India, July 21, 2007 - Sahara Infrastructure & Housing (Sahara I&H) announced that Sahara City Homes, Indore & Nagpur have received all the approvals from Central & State level government and construction work on the townships have commenced.

| Comments (0)

Rules for new toll policy under formulation | INRnews

New Delhi, India, July 21, 2007 - The Union Minister of Shipping, Road Transport and Highways Thiru T.R. Baalu has said that the new Toll Policy has been finalized by the Government and the Toll Rules are under formulation. Speaking at the Conference of Chief Secretaries on ‘Public-Private Partnership (PPP) in Infrastructure’ organized by the Planning Commission here today, Thiru Baalu said that for toll collection, the Government has decided to shift to Electronic Toll Collection (ETC). Thiru Baalu chaired the Session on Highways at the Conference.

| Comments (0)

International real estate broker Hamptons enters India | INRnews

New Delhi, India, July 21, 2007 - Internation real estate sales agent Hamptons Internations is to set up offices in India before the year-end.

| Comments (1)

July 20, 2007

Skyline Constructions and Housing Pvt. Ltd. to invest Rs. 200 Crore in Mangalore | INRnews

Mangalore, India, July 20, 2007 - Skyline Constructions and Housing Pvt. Ltd., one of the top builders in Karnataka and creators of luxury homes launched their ‘Blueberry Hills’ project in Mangalore today. Mr. Avinash Prabhu, MD of Skyline Constructions and Housing Pvt. Ltd announced that Skyline would invest over Rs. 200 crore in Mangalore across residential and commercial verticals.

| Comments (1)

Restructuring of National Highways Authority of India | INRnews

New Delhi, India, July 20, 2007 - The Union Cabinet today gave its approval to the following proposals for restructuring of the National Highways Authority of India:-

| Comments (0)

Pantaloon Retail enters into joint venture with Axiom Telecom LLC, UAE | INRnews

Mumbai, India, July 20, 2007 - Future Group today announced that it’s flagship company Pantaloon Retail (I) Ltd. has signed a 50:50 joint venture agreement with the UAE based, Axiom Telecom LLC, the largest authorized distributor, retailer and after sales support provider of  mobile phones, phone accessories, wireless gadgets, memory & storage devices in the Middle East. The new company will focus on developing backend sourcing infrastructure for the Pantaloon Retail’s existing telecom retailing business, to enable it to expand and scale up, exponentially. Additionally, it will also create a nationwide network of state-of-the-art after sales service centers for mobile handsets in the country.

| Comments (0)

July 19, 2007

Hirco PLC announces investment in Commercial Township Development in Panvel, Navi Mumbai | INRnews

Mumbai, India, July 19, 2007 - Hirco PLC  (AIM:HRCO),  a real estate investment company, has announced an investment of £128.4 million in a Commercial Township Development project located in Panvel, in the Mumbai Metropolitan Region, India.

| Comments (1)

DLF bags Rs 6000 Crore Convention Center, Hotels and Commercial Services Project at Dwarka, New Delhi | INRnews

New Delhi, India, July 19, 2007 - DLF Ltd has announced that Delhi Development Authority has awarded the design, development and operation of an International Convention Centre, proposed to be developed in Sector 24, Dwarka, New Delhi.

| Comments (0)

Parsvnath now offers Shopping Mall Cum Multiplex in Vastrapur in Ahmedabad | INRnews

Ahmedabad, India, July 19, 2007 - Parsvnath Developers Ltd has announced that on July 19, 2007, the Company has launched Parsvnath City Centre, first of its kind luxury Mall cum multiplex, at Vastrapur, Ahmedabad at an approximate cost of Rs 50 crores.

| Comments (0)

Panoramic Universal to launch four hotels in India by 2009 | INRnews

Mumbai, India, July 19, 2007 - Panoramic Universal Limited, a mid-segment global hospitality player, plans to introduce four hotels in Thane, Durgapur, Hyderabad and Pune by 2009. The India-based group has hotels in India, US and New Zealand and is in the process of doubling its existing portfolio of 900 rooms over the next three years.

| Comments (3)

Delhi residential property prices headed south in suburban locations | INRnews

New Delhi, India, July 19, 2007 - Leading real estate services firm Cushman & Wakefield feels that there is likely to be downward pressure on real estate prices in certain suburban locations of Delhi caused by fresh supply of housing units in the mid-range segment. This excess supply could lead to a correction of 15%-20% in certain markets.

| Comments (0)

DLF announces Q1 results, recommends dividend | INRnews

New Delhi, India, July 19, 2007 - DLF Ltd has announced the following unaudited results for the quarter ended June 30, 2007:

The Company has posted a net profit of Rs 5792.70 million for the quarter ended June 30, 2007. Total Revenue is Rs 12071.10 million for the quarter ended June 30, 2007.

| Comments (0)

Big Bazaar hypermarket comes to Raipur in Chhattisgarh | INRnews

Raipur, India, July 19, 2007 - Pantaloon Retail (India) Limited, a part of the Future Group, today announced its entry in the State of Chhattisgarh with the opening of it’s largest chain of hypermarket store – BIG BAZAAR – in Raipur city. Widely known for it’s unbelievable pricing and unmatched offers throughout the year, the popular Big Bazaar will cater to the entire household needs of the citizens of Raipur city.

| Comments (0)

Greater commercial space to be available in Chennai in 2007 | INRnews

Chennai, India, July 19, 2007 - The commercial property market in Chennai is to see 9.1 million sq.ft of new space available in 2007 versus only 7 million sq.ft the previous year. Another 3 million sq.ft of space is to be delivered in Q1 2008. Close to 50% of the total projected supply has already been pre-commited to or absorbed, indicating robust demand in the city for office space. according to real estate services firm Cushman & Wakefield.

| Comments (0)

Bangalore property market expected to be stable | INRnews

Bangalore, India, July 19, 2007 - The Bangalore residential property market is expected to be stable for rentals as well as capital values in the coming months according to real estate services firm Cushman & Wakefield. The firm expects disparity in demand and supply for premium apartments in central locations such as Richmond Town, Off MG Road, Cunningham Road etc., as well as in Southeast Bangalore to reduce in the next 12-18 months consequently putting pressure on rental and property prices.

| Comments (0)

July 18, 2007

Taj Group to build 200-room business hotel in Gurgaon | INRnews

New Delhi, India, July 18, 2007 - The Indian Hotels Company Limited (IHCL) on Tuesday said it will build a premium 200-room Taj Business hotel in partnership with HB Estate Developers in Gurgaon, which is expected to be operational by 2010.

| Comments (0)

NHAI signs four concession agreements for Tamil Nadu projects | INRnews

New Delhi, India, July 18, 2007 - The National Highways Authority of India (NHAI) today signed the Concession Agreement for four Projects to be executed in Tamil Nadu on Build, Operate and Transfer (BOT) basis under National Highways Development Project (NHDP) Phase III at a total cost of Rs. 2,318 Crores for four laning of 343 km.

| Comments (0)

Bangalore commercial property market looks strong | INRnews

Bangalore, India, July 18, 2007 - The commercial property market in Bangalore is looking strong for rentals and capital values.  According to real estate services firm Cushman & Wakefield,  rentals are up 27% and capital values are up 38% in the CBD over a year ago. While over 17.4 million sq.ft of office space is to be available in Bangalore in 2007, there is no new space coming up in the CBD area and as little as 259,000 sq.ft space off-CBD. With low supply, vacancy levels in the CBD stand lower than 3%.

| Comments (0)

July 17, 2007

Mantri Realty gets approval for 44 acres IT Park at Nagpur | INRnews

Nagpur, India, July 17, 2007 - Mantri Realty has got the government nod to build a 44 acres IT/ITES SEZ at Butibori Industrial Area at Nagpur. This SEZ would be implemented through its 100% subsidiary Suyog Realtors Ltd. The land has been acquired and the project has achieved financial closure with a total outlay of Rs 780 Crore.

| Comments (4)

Henderson launches US$ 1 billion Asia Pacific fund of property funds | INRnews

London, United Kingdom, July 17, 2007 - Henderson Global Investors, the independent asset manager with over US$120 billion assets under management, has today announced the Q4 2007 launch of the Henderson Asia Pacific Indirect Property Fund (Pagoda), a fund with both open and closed ended sub-funds aimed at institutional investors globally.

| Comments (0)

Future Group & Talwalkars promote Health & Fitness Destinations within shopping malls in India | INRnews

Mumbai, India, July 17, 2007 - The Future Group in partnership with Talwalkars, the leading chain of health centers has launched a new initiative, Talwalkars Fit & Active, which offers health, fitness and gym services within shopping malls and consumption centers. Talwalkars Fit & Active centers have state-of-the-art gymnasiums, weight-loss centers and health spa along with personalized counseling services of dieticians, nutritionists, physiotherapists, weight-loss trainers and personal fitness trainers. Along with these facilities, Talwalkars Fit & Active will retail best-in-class fitness equipments and accessories to its customers.

| Comments (0)

July 16, 2007

LANCO bags two toll road projects in Karnataka | INRnews

Bangalore, India, July 16, 2007 - LANCO Kondapalli Power Pvt Ltd, a subsidiary of LANCO Infratech Ltd, has bagged the contract for construction and operation of two road projects in Karnataka on Build, Operate and Transfer (BOT) basis under the National Highways Development Project (NHDP) Phase III.

| Comments (0)

Omaxe Limited IPO opens on July 17, 2007 | INRnews

Mumbai, India, July 16, 2007 - Omaxe Limited (the “Company”), an ISO 9001:2000 certified real estate development and construction company with operations in 30 cities and 9 states in India, will enter the capital market with an Initial Public Offer (“IPO”) of upto 17,796,520 equity shares (the “Issue”) of Rs. 10 each for cash at a price to be decided through a 100% Book Building Process. The Bid/ Issue will open for subscription on July 17, 2007, and closes on July 20, 2007. The Company has fixed the Price Band between Rs. 265 and Rs. 310 per equity share. The equity shares are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

| Comments (0)

July 10, 2007

Arihant Foundations to develop Rs 650 crore townsip in Vijayawada | INRnews

Chennai, India, July 10, 2007 - Arihant Foundations & Housing Ltd has announced that the Company has entered in to a development agreement dated July 09, 2007 with Vijayawada Guntur Tenali Mangalagiri Urban Development Authority "VGTM UDA" in the state of Andhra Pradesh through a SPV Company named Arihant Indo African Infra Developers & Builders Pvt Ltd, Hyderabad to undertake the development of a Township project of 53 acres at Vijayawada in the state of Andhra Pradesh.

| Comments (1)

July 09, 2007

TSI Ventures launches commercial real estate project in Gachibowli, Hyderabad | INRnews

Hyderabad, India, July 09, 2007 - TSI Ventures, a 50:50 joint venture between the global real estate developer Tishman Speyer and ICICI Venture, a private equity and venture capital management company, has launched its first Indian project, a world class office facility "WaveRock" in Hyderabad.

| Comments (0)

DDA introduces Penalty Relief Scheme 2007 | INRnews

New Delhi, India, July 09: THE Delhi Development Authority (DDA) has announced a penalty relief scheme to aid those who were allotted flats but defaulted on payments.

| Comments (0)

India's retail sector looks towards smaller cities | INRnews

Mumbai, India, July 09, 2007 - Most organised retailing and retail property activity is still concentrated in India's two largest cities - Delhi/NCR and MUmbai. While there are considerable property opportunities in these two cities, increasing competition and growing opportunities in India's regional markets is encouraging both retailers and property developers to move into new and potentially more rewarding markets further afield according to real estate services firm Jones Lang LaSalle Meghraj.

| Comments (0)

July 08, 2007

GVK signs MoU with Tamil Nadu Industrial Development Corporation to set up multi-product SEZ in Perambalur | INRnews

Hyderabad, India, July 08, 2007 - Infrastructure development firm GVK today signed a memorandum of understanding (MoU) with TIDCO, an Undertaking of the Government of Tamil Nadu to jointly develop a multi-product Special Economic Zone (SEZ) in Perambalur district. The MoU was signed in the presence of Dr. M. Karunanidhi, Chief Minister of Tamil Nadu by Mr. G.V Krishna Reddy, Chairman, GVKPIL and Mr. S. Ramasundaram, Chairman Tamilnadu Industrial Development Corporation Limited (TIDCO).

| Comments (0)

July 07, 2007

Unitech annouces luxury residential project - Unitech Grande - in Noida | INRnews

New Delhi, India, July 07, 2007 - Indian real estate major Unitech Ltd has announced the launch of a premium residential project, Unitech Grande, in Noida. Unitech Grande is a premium lifestyle destination offering super luxury apartments in sylvan surroundings across 347 acres of prime land.

| Comments (0)

July 05, 2007

Ansal API launches Aquapolis in Ghaziabad | INRnews

Ghaziabad, India, July 05, 2007 - Ansal Properties and Infrastructure Ltd. today unveiled its one –of-its kind project in Ghaziabad called the Aquapolis. Spread over 175 acres of land, the project is expected to be completed in the next 2-3 yrs. Aqua connote water and polis means an ancient Greek city-state.  Aquapolis is a new millennium township, designed by Chelsea West, New York and inspired by the best of International architectural tradition of reflecting pools, gardens, lots of greenery and soaring towers.

| Comments (0)

DLF debuts on BSE at premium to issue price | INRnews

Mumbai, India, July 05, 2007 - Indian Real estate major DLF Ltd saw its stock close at a 8.6% premium to the IPO price of Rs.525 on the first day of trading on the BSE.

| Comments (0)

IDFC Limited raises Rs. 2,100 crore through Qualified Institutional Placement (QIP) | INRnews

Mumbai, India, July 05, 2007 - IDFC Limited today successfully placed its QIP offering of Rs. 2,100 crores through issue of 165,354,330 shares at a price of Rs. 127 per share. The issue generated significant interest from a number of high quality institutional investors across Asia including India, Europe and the United States. The proceeds of offering shall be used to augment its capital base, enhance the strength of its balance sheet for its lending operations, provide seed capital to some of the funds it manages, to explore opportunities in principal investments and for general corporate purposes.

| Comments (0)

July 04, 2007

Ministry of Civil Aviation puts airport at Greater Noida on the fast track | INRnews

New Delhi, India, July 04, 2007 - The Ministry of Civil Aviation has received a techno-feasibility study and project report from the Government of Uttar Pradesh (UP) for setting up an airport at Greater Noida. The Ministry has considered the report and has assured the State Government of Uttar Pradesh that it would require approximately three months to get an ‘in-principle’ approval for the airport from the Government of India under the prevailing circumstances.

| Comments (1)

Indiabulls Real Estate prices $360 million GDR offering | INRnews

Mumbai, India, July 04, 2007 - Indiabulls Real Estate Ltd (IBREL) has aanounced that IBREL priced its US$ 360 million GDRs offering on the Luxembourg Stock Exchange at US$ 10.32 per GDR.

| Comments (0)

Ansal Properties signs an agreement with Fortis to develop Medicity in Lucknow | INRnews

Lucknow, India, July 04, 2007 - Ansal Properties & Infrastructure Ltd has announced that the Company has signed an Agreement with Fortis Healthcare Holding Ltd, (Fortis) for setting up a world class Medicity at its Project, Sushant Golf City, located in Lucknow (U.P).

| Comments (0)

Emmar MGF awarded contract for building Commonwealth village by DDA | INRnews

New Delhi, India, July 04, 2007 - Real estate developer Emmar MGF has bagged the contract for building the Commonwealth Games village in Delhi.

| Comments (0)

July 03, 2007

Minister stresses need for attention to highway safety | INRnews

New Delhi, India, July 03, 2007 - The Union Minister of Shipping, Road Transport & Highways, Thiru T.R. Baalu has said that there is a greater need to give special attention to the safety aspects relating to the interchanges and flyovers being constructed by NHAI within the cities and on stretches approaching the major cities.

| Comments (0)

Opus Developers forms JV with Sunway City of Malaysia for Hyderabad township project | INRnews

Hyderabad, India, July 03, 2007 - Malaysian property developer Sunway City Berhad has partnered up with Hyderabad based Opus Developers & Builders to develop a Rs.800 crore township on 14ha of land near Hitec City in Hyderabad.

| Comments (2)

July 01, 2007

Indian Real Estate and the prospects for REITs | INRnews

Mumbai, India, July 01, 2007 - Real Estate Investment Trusts, or REITs, have established themselves as the "Brand Name" investment vehicle of choice for institutional and retail investors looking to participate in real estate ownership, management and development. And while REITs are already common players in developed markets, they are now also making their presence felt in emerging markets.

| Comments (0)

June 29, 2007

Ansal Properties to set up 30 hotels in India | INRnews

Mumbai, India, June 29, 2007 - Ansal Properties & Infrastructure Ltd has announced that the Company is in the process of forming a Special Purpose Vehicle Company (in short SPV) for foray in the hospitality sector by setting up around 30 hotels over the next 10 years.

| Comments (0)

June 22, 2007

Formal approval granted to 36 SEZs; in principle approval to 9 | INRnews

New Delhi, India, June 22, 2007 - The Board of Approval (BOA) of the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to SEZs. In this meeting, 53 applications for setting up SEZs were considered and 36 Formal approvals and 9 In-principle approvals were granted.

| Comments (3)

Increasing Land Supply is the Key to Reducing Real Estate Prices | INRnews

Mumbai, India, June 22, 2007 - Increasing the supply of land – which constitutes about 50% of the total project cost at present and is largely responsible for high prices – holds the key to affordable housing. This was the consensus that emerged today at ‘Realty 2007’, the Real Estate Conference organized by Confederation of Indian Industry.

| Comments (0)

June 21, 2007

Parsvnath Developers secures mall project in North Delhi | INRnews

New Delhi, India, June 21, 2007 - Parsvnath Developers Ltd on June 21, 2007, has announced that the Company has bagged another DMRC project for developing an ultra modern fully Air-Conditioned shopping mall outside Netaji Subhash Place Metro Station in North Delhi.

| Comments (1)

Sternon Group's NRI mega-township in Navi Mumbai generates global interest | INRnews

Dubai, UAE, June 21, 2007 - An NRIs-only mega-township of villas and row-houses in Navi Mumbai, being promoted by Sternon Group, Dubai-based real estate developers, builders and promoters, has generated global interest, driven by Navi Mumbai's growing reputation as one of the hottest real estate markets, Hussaini F. Nalwalla, Managing Director, Sternon Group, said in Dubai today.

| Comments (1)

Financial Institutions look at reverse mortgage products | INRnews

Mumbai, June 21, 2007 - A whole host of financial institutions are looking seriously at entering the reverse mortgage segment. A new concept in India, the reverse mortgage product is essentially a loan provided to senior citizens by mortgaging their homes. Heirs can either repay the loan or forfeit the property.

| Comments (0)

Delhi Government sets new property valuation rates | INRnews

New Delhi, India, June 21, 2007 - The Delhi Government has approved new property valuation rates for registration of property in the city. These rates will be reviewed every five years.

| Comments (1)

June 20, 2007

Morgan Stanley Real Estate Raises Largest Ever Real Estate Fund with $8.0 Billion of Equity Investments | INRnews

NEW YORK, June 20, 2007 - Morgan Stanley Real Estate announced today that it has successfully completed fundraising for MSREF VI International with a total of $8.0 billion of equity commitments from institutional and retail investors in North America, Europe, the Middle East and Asia. Morgan Stanley invested just over 20 percent of the total equity raised.

| Comments (0)

Work on Sethusamudram Channel Project to be completed by Dec | INRnews

New Delhi, India, June 20, 2007 - The Union Minister of Shipping, Road Transport & Highways, Thiru. T.R. Baalu has said that the work on the Sethusamudram Ship Channel Project (SSCP) would be completed before December, 2008. The Minister today reviewed the progress of the Project with the officials of the Sethusamudram Corporation Limited (SCL) and Dredging Corporation of India (DCI) besides other concerned agencies.

| Comments (0)

GV Films plans Rs 50 crore multiplex near Chennai | INRnews

Chennai, India, June 20, 2007 - GV Films plans to develop a Rs 50-crore multiplex theatre with 10 screens on the outskirts of Chennai along with a 100-room hotel and shopping malls on the same site. The project is a joint venture with the owner of the land.

| Comments (0)

Indiabulls acquires housing projects in Chennai | INRnews

Mumbai, India, June 20, 2007 - Indiabulls Real Estate Ltd has announced that the Company through its wholly owned subsidiaries, has acquired two housing projects in Chennai.

| Comments (0)

SEZ status cleared for $350 million Kochi Smart City | INRnews

Kochi, Kerala, June 20, 2007 - The Centre has granted SEZ clearance for the $350 million Kochi Smart City promoted by the Kerala Government and Dubai based TECOM Investment. The project aims to develop 88 lakh sq.ft of built-up space and supporting infrastructure for IT and ITES firms and can generate 90,000 jobs over the next 10 years. The Kerala Government will have an initial stake of 16% that will increase to 26% after 5 years.

| Comments (0)

Sahara Star launched in Mumbai | INRnews

Mumbai, India, June 20, 2007 - The Airport Centaur Hotel in Central Mumbai has been relaunched as a "seven-star" hotel by the Sahara Group. The hotel will now be known as Sahara Star. The company is also next said to be looking at a new five-star hotel project in Lucknow.

| Comments (0)

Foundation stone laid for OIDB Bhawan in Noida | INRnews

New Delhi, India, June 20, 2007 - Union Minister for Petroleum and Natural Gas Shri Murli Deora laid the foundation stone of “OIDB Bhawan” at NOIDA today. Oil Industry Development Board (OIDB) is an autonomous and statutory organization under the Ministry of Petroleum and Natural Gas established in 1975 under an act of Parliament, to provide financial assistance for the development of oil and gas industry.

| Comments (0)

June 19, 2007

Plaza Centers acquires land in Thiruvananthapuram for commercial development | INRnews

London, UK, June 19, 2007 - Plaza Centers N.V., a leading emerging markets property developer, today announces that, in a 50%:50% joint venture with a leading Indian property developer, it has acquired a plot of land with an area of approximately 10.78 acres (approximately 43,600 sq m), situated in Trivandrum, the capital city of the State of Kerala, India. 

| Comments (0)

Tamil Nadu Govt withdraws development freeze on Chennai's IT Corridor | INRnews

Chennai, India, June 19, 2007 - A freeze on large scale development in Chennai's IT Corridor imposed by the Tamil Nadu Government has been withdrawn till a comprehensive plan is developed.  The Directorate of Town and Country Planning (DTCP) is now permitting large scale development on this stretch.

| Comments (0)

FSI for multi-storey buildings in Tamil Nadu increased | INRnews

Chennai, India, June 19, 2007 - The Government of Tamil Nadu has decided to increase the Floor Space Index (FSI) of multi-storey buildings across the state on par with Chennai.  Thus, the FSI would get increased from 1.6 upto 2.75 depending on the size of the footprint of the building.

| Comments (0)

Emaar MGF forms JV to invest $600 million to develop hotels in India | INRnews

New Delhi, India, June 19, 2007 - Emaar MGF – India’s leading real estate developer today announced a 50:50 Joint Venture with Premier Travel Inn – a subsidiary of Whitbread PLC, UK’s largest hospitality company. In the past Emaar MGF has tied up with Accor – global leaders in economy & budget Hotels to bring 100 Formule 1 hotels across India with an investment of US$ 300 million.

| Comments (1)

RDB Industries wins building contracts | INRnews

Mumbai, India, June 19, 2007 - RDB Industries Ltd has announced that the Company has bagged contracts / assignments by winning tenders for building residential complexes in Kolkata, Burdwan and Guwahati.

| Comments (0)

Tripex Overseas to set up pharma SEZ unit in Valsad, Gujarat | INRnews

Mumbai, June 19, 2007 - Tripex Overseas Ltd has announced that the Company plans to set up a SEZ unit near Valsad (South-Gujarat). The Company Plans to set up a bulk drug and formulation manufacturing plant with an initial investment of Rs 200 crore.

| Comments (1)

June 17, 2007

Chennai builders get interim reprieve on levy | INRnews

Chennai, India, June 17, 2007 - Builders with projects in Chennai have got an interim reprieve from the proposed infrastructure and amenities levy charge to be collected by CMDA within the city's metroplitan limits and by the Town and Country Planning Directorate in other areas. The Madras High Court has granted an interim stay on the Tamil Nadu government order dated June 1, 2007 until June 25.

| Comments (0)

June 16, 2007

Major thrust on urban development under JNNURM | INRnews

New Delhi, India, June 16, 2007 - The Prime Minister, Dr. Manmohan Singh reviewed the progress of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and reiterated the need for State Governments to pay greater attention to the reform of urban governance and the modernization of urban infrastructure, with special focus on the lives of the poor in urban areas.

| Comments (0)

June 15, 2007

Foundation stone laid for power project in Dadri | INRnews

New Delhi, India, June 15, 2007 - Delhi will get 90 per cent of the power generated from the 980 MW second phase of National Thermal Power Corporation (NTPC) Project, Dadri, in view of the forthcoming Commonwealth Games while the Uttar Pradesh will share 10 per cent of the power generated.

| Comments (0)

Chennai Airport to be upgraded and modernised by AAI | INRnews

New Delhi, India, June 15, 2007 - The Prime Minister’s Committee on Infrastructure which met here today has decided that Chennai Airport will be upgraded and modernized by the Airports Authority of India (AAI). The Committee has also asked for a pre-feasibility report for a greenfield airport near Chennai.

| Comments (2)

Committee on infrastructure approves proposal for modernisation of railway stations | INRnews

New Delhi, India, June 15, 2007 - In a move to make Indian Railways world’s number one Railway network, the Committee on Infrastructure approved the proposal for completing the first phase of modernization of the New Delhi railway station into a world-class station through Public Private Partnership before the Commonwealth Games, 2010 here today.

| Comments (0)

Indiabulls Real Estate and Zublin Gmbh enter into MoU | INRnews

Mumbai, India, June 15, 2007 - Indiabulls Real Estate Ltd has announced that the Company and Zublin International GmbH, a subsidiary of Strabag SE, have entered into a Memorandum of Understanding to consolidate their resources and experience and jointly work on large infrastructure development projects. They have also agreed to set up a Special Purpose Vehicle (SPV) to execute these projects.

| Comments (0)

June 14, 2007

India's 1st Real Estate TV Channel Launch in July | INRnews

Bangalore, India, June 14, 2007 - India’s first 24-hour premium TV Channel dedicated completely to real estate---is all set to be launched next month. This was announced here by the channel’s promoter, Mr Manoj Namburu, CMD of Alliance Group, a Rs.4400-crore enterprise. He said though the channel was promoted by the Alliance Group, it was of and for the real estate sector at large.  Alliance Group is a Rs4400 crore real estate enterprise with projects in Bangalore, Chennai, Hyderabad, Coimbatore and Mysore.

| Comments (3)

DLF IPO oversubscribed twice | INRnews

Mumbai, India, June 14, 2007 - The IPO of DLF Limited, the largest real estate development company in India in terms of the area of its completed residential and commercial developments, has been oversubscribed by nearly twice according to news reports. At the close of the third day, it received bids for 1.96 times the shares on offer.

| Comments (0)

June 13, 2007

HDFC invests Rs. 74 crores in Pune based housing company | INRnews

Pune, India, June 13, 2007 - HDFC realty fund has purchased 10% equity of Pune based housing and construction company Paranjape Schemes (Construction) Ltd. for a total value of 74 crores.

| Comments (2)

Ascendas launches S$500 million Ascendas India Development Trust | INRnews

Singapore, June 13, 2007 - Ascendas, Asia’s leading business space solutions provider, today announced the launch of its Ascendas India Development Trust (“AIDT” or the “Fund”). The AIDT is the first development fund to be launched by Ascendas, following the S$250 million equity Ascendas India IT Parks Trust launched in June 2005.

| Comments (0)

Ansal Housing to develop 98-acre township in Karnal, Haryana | INRnews

Mumbai, India, June 13, 2007 - Ansal Housing & Construction Ltd has announced that the Director, Town & Country Planning, Haryana, Chandigarh has issued licence for development of 98 acre of Residential Project of the Company at Sector - 36, Karnal (Haryana).

| Comments (0)

June 12, 2007

Jones Lang LaSalle and Trammell Crow Meghraj to Merge India Operations | INRnews

New Delhi, India, June 12, 2007 — Jones Lang LaSalle Incorporated (NYSE: JLL), the world’s leading integrated global real estate services and money management firm and one of the largest privately held real estate services companies in India formerly known as Trammell Crow Meghraj (TCM), announced today that they have reached an agreement to combine operations. The merger enables Jones Lang LaSalle, which has an integrated global platform with approximately 160 offices in more than 450 cities in over 50 countries, to add immediate scale in India, one of the world’s fastest growing economies and strengthen its depth of resources in the local market. For TCM, Jones Lang LaSalle’s global resources will enhance their ability to serve clients’ global needs.

| Comments (0)

Rajesh Exports to develop five properties from its land bank in Bangalore | INRnews

Mumbai, India, June 12, 2007 - Rajesh Exports Ltd has announced that the Board of the Company on June 12, 2007, decided to initiate the development of 5 selected properties from the Company's existing land bank of 32 properties. This is the first phase of development that the Company will be undertaking from the 32 strategically located properties owned by the Company.

| Comments (0)

Uppal Group - Luxor Group SPV signs MoU with Trinity Capital, to develop Gurgaon SEZ | INRnews

New Delhi, India, June 12, 2007 - A special purpose vehicle (SPV) formed by Delhi based real estate Uppal Group and Luxor Group, today announced the signing of a memorandum of understanding (MoU) with Trinity Capital (PLC), a US based boutique investment banking and restructuring firm. The two companies also announced divestment of their partial shareholding in the SPV in favor of Trinity Capital for over Rs. 300 crore. The SPV was floated by the two companies to develop 10 million sq. ft. on a 67-acre plot for their upcoming notified SEZ’s in Gurgaon.

| Comments (0)

Satra Properties signs MoU for Bandra - Turner Road Property in Mumbai | INRnews

Mumbai, India, June 12, 2007 - Satra Properties India Ltd has announced that the Company has signed an MOU for development of a prime property in the Bandra — Turner Road area in Mumbai.

| Comments (0)

June 11, 2007

Ansal Housing to develop 100-acre township in Rewari, Haryana | INRnews

Mumbai, India, June 11, 2007 - Ansal Housing & Construction Ltd has announced that the Director, Town & Country Planning, Chandigarh, Haryana has issued licence for development of approx. 100 acre of Residential Project of the Company at Sector - 19, Rewari (Haryana).

| Comments (0)

June 10, 2007

Exclusive Ventures Opens Advisory Service in Kerala, initial Focus to be on Cochin | INRnews

Hyderabad, India, June 10, 2007 - (Company Press Release) - After having established itself as premier property recommendation service in Hyderabad , Exclusive Ventures has opened its operation in Kerala. A new website (www.exclventures-kerala.com) was launched on 1st June with focus on the city of Cochin.

| Comments (0)

June 07, 2007

Ansal Properties launches 460-acre township in Agra, Uttar Pradesh | INRnews

Mumbai, India, June 07, 2007 - Ansal Properties & Infrastructure Ltd has announced that the Company has launched an Integrated Township at Agra, (U.P.), strategically located near the Delhi - Agra Highway, on the Ring Road, Agra. The Township will be spread in excess of 460 acres of land and is named as "Sushant Taj City".

| Comments (5)

June 06, 2007

Holistic Development of NCR Region need of the Hour - Sheila Dikshit | INRnews

New Delhi, India, June 06, 2007 - The Chief Minister of Delhi, Mrs Sheila Dikshit, has assured the Delhi Government's support and cooperation to neighboring states bordering the capital for a holistic development of the NCR region.

| Comments (0)

Holistic Development of NCR Region need of the Hour - Sheila Dikshit | INRnews

New Delhi, India, June 06, 2007 - The Chief Minister of Delhi, Mrs Sheila Dikshit, has assured the Delhi Government's support and cooperation to neighboring states bordering the capital for a holistic development of the NCR region.

| Comments (0)

Indiabulls Real Estate to develop SEZ in Nashik and Thane in Maharashtra | INRnews

Mumbai, India, June 06, 2007 - Indiabulls Real Estate Ltd has announced that Indiabulls Industrial Infrastructure Ltd, a wholly-owned subsidiary of the Company focused on development of large scale infrastructure projects, has received a Formal Approval from the Department of Commerce (SEZ Section), Ministry of Commerce & Industry, Government of India, for development of a multi-product Special Economic Zone (SEZ) in the Nashik District of the State of Maharashtra.

| Comments (0)

Mega cities conference held | INRnews

New Delhi, India, June 06, 2007 - Representatives of mega cities’ corporations, senior officials from banks and financial institutions, apex industries’ organizations, state government representatives met in a daylong conference in New Delhi yesterday (5th June 2007).  The objective of the meeting was to take stock of the implementation vision of the Jawaharlal Nehru National Urban Renewal Mission, JNNURM projects in the mega cities of Delhi, Mumbai, Ahmedabad, Bangalore, Chennai, Kolkata, and Hyderabad.

| Comments (0)

Detailed project report soon for 250km Bangalore ring road | INRnews

New Delhi, India, June 06, 2007 - The Union Minister of Shipping, Road Transport & Highways Thiru T.R.Baalu, has said that his Ministry is working in right earnest on the 250 Kms Bangalore Ring Road project. During a meeting with the Chief Minister of Karnataka, Shri H.D. Kumaraswamy in Bangalore today, Thiru Baalu informed him that the consultants have already been appointed for preparing the Detailed Project Report (DPR) for the 250 Km Ring road project. Thiru Baalu said that after finalization of the DPR, this project would be included in the appropriate phase of the National Highway Development Programme (NHDP). The Minister for State for Road Transport & Highways Shri K.H. Muniyappa was also present during the meeting.

| Comments (0)

June 05, 2007

Rolta India to set up IT Park in Kolkata | INRnews

Mumbai, India, June 5, 2007 - Rolta India Limited has announced the setting up of an Information Technology Park at Kolkata as part of its expansion plan. This IT park will have facilities for delivery of Information Technology based GeoSpatial services, Engineering Design services, Software Development and ERP implementation services worldwide. This facility will be set-up in phases with an investment of about Rs.2,500 million. Once completed this facility will provide an employment opportunity for about 5000 technical professionals and domain experts from talent available largely in West Bengal.

| Comments (0)

26 Formal and 9 in-principle SEZ approvals granted | INRnews

New Delhi, India, June 05, 2007 - The Board of Approval for the Special Economic Zones (SEZs) met here today to consider proposals for setting up of Special Economic Zones and also approve other miscellaneous requests pertaining to notified SEZs.

| Comments (0)

June 04, 2007

MTNL to develop Core Knowledge Park in Noida | INRnews

Mumbai, India, June 04, 2007 - Mahanagar Telephone Nigam Ltd (MTNL) has announced that the Board of Directors of the Company at its meeting held on June 04, 2007, has approved the development of Core Knowledge Park (CKP) at the land available with the Company in Noida. This will be developed by a consortium selected by the Company against an open Expression of Interest (EOI) floated by the Company.

| Comments (0)

June 03, 2007

Parsvnath launches luxury condominium in Ghaziabad | INRnews

New Delhi, India, June 3, 2007 - Parsvnath Developers Ltd., a leading real estate developer in India, has launched a high-rise exclusive air-conditioned luxury condominium in Ghaziabad. Parsvnath Developers Ltd. performed the Bhoomipujan and launched the project this morning. The revenue from the project is approximately Rs. 600 crores over the next three years including this financial year.

| Comments (0)

June 02, 2007

National Conference Affordable Housing for All | INRnews

Mumbai, India, June 02, 2007 - The Common Minimum Programme of the UPA government has Urban Renewal as top priority, said Kumari Selja, Minister of State (Independent Charge) for Housing & Urban Poverty Alleviation, Government of India at the Conference on Affordable Housing organized by the Confederation of Indian Industry in co-operation with the Ministry of Housing & Urban Poverty Alleviation and the Government of Maharashtra in Mumbai today.

| Comments (0)

June 01, 2007

Ansal Properties signs MoU with Noor Capital of Abu Dhabi for FDI in real estate | INRnews

Mumbai, India, June 01, 2007 - Ansal Properties & Infrastructure Ltd has announced that a Memorandum of Understanding (MOU) has been entered between the Company, India Realty Ltd (IRL) having experience of real estate developments in India, and Noor Capital, PSC, UAE, with head quarters in Abu Dhabi, (NOOR), for bringing in foreign direct investments (FDI) from Gulf Cooperation Council Countries. The FDI is initially proposed into the approx 500 acres of township in Agra Project of the Company, and a Group Housing Project in Ghaziabad, one of the joint ventures of the Company, both in U.P. The projected turnover for both these Projects is around Rs 3000 crores over the next 7 to 8 years.

| Comments (0)

Emaar MGF kicks-off India's first integrated township – Mohali Hills | INRnews

Chandigarh, India, June 1, 2007 - Emaar MGF, India’s leading real estate developer today announced the commencement of its signature project Mohali Hills. The foundation Stone laying ceremony in the august presence of Honorable Chief Minister of Punjab, marks the auspicious beginning of the company’s pan India project plans. Mohali Hills is the maiden mega project of the joint venture in Punjab with a capital outlay of Rs. 16,000 crores.

| Comments (6)

May 31, 2007

Housing Boom in Asia a short-term trend says IMF official | INRnews

New Delhi, India, May 31, 2007 - Mr. Joshua Felman, Senior Resident Representative, IMF, Delhi has dismissed as fallacious the “homely wisdom” that housing is the best investment, since population and incomes go up every year, but the supply of land is fixed.

| Comments (0)

Satra Properties signs MoU for Jodhpur property | INRnews

Mumbai, India, May 31, 2007 - Satra Properties India Ltd has announced that the Company has signed an MoU for a prime retail property in Jodhpur, India which is proposed to be named as "Satra Galleria".

| Comments (0)

Government approves international airport in Navi Mumbai | INRnews

New Delhi, India, May 31, 2007 - The Government today gave its approval for the construction of an International Airport at Navi Mumbai. The Airport will be developed as a Greenfield Airport through Public Private Partnership (PPP) along the lines of the Greenfield Airports at Hyderabad and Bangalore.

| Comments (0)

New Ginger hotel inaugurated at Nashik | INRnews

Nashik, India, May 31, 2007 - The Indian Hotels Company Limited (IHCL) today unveiled its 'GenNext' 'Smart Basics' hotel Ginger at Satpur MIDC, Nashik in the presence of Prabhat Pani, chief executive officer, Roots Corporation and other dignitaries. The new 101-room hotel is the latest addition to the growing chain of Ginger hotels across the country, which now includes Bangalore, Haridwar, Bhubaneswar, Mysore, Thiruvananthapuram, Durgapur and Pune.

| Comments (0)

May 30, 2007

DLF Limited IPO opens 11th June 2007 Price band fixed at Rs.500 to Rs.550 | INRnews

Mumbai, India, May 29, 2007 - DLF Limited, the largest real estate development company in India in terms of the area of its completed residential and commercial developments , proposes to enter the capital market on 11th June 2007 with a public issue of 175,000,000 equity shares of Rs.2 each through 100% book building process. The issue closes on 14th June 2007 and the price band has been fixed at Rs.500 to Rs.550 per equity share. The floor price of the band is 250 times the face value and the cap price is 275 times the face value. The issue will constitute 10.26% of the fully diluted post-issue capital of the company.

| Comments (0)

May 28, 2007

Lalani Group announces its first IT Park project in Pune | INRnews

Pune, India, May 28, 2007 - The Lalani Group a Mumbai-based construction house, has announced an Information Technology (IT) Park project, 'Lalani Quantum', at Bavdhan in Pune (close to Pune's IT hub of Hinjewadi). Encompassing an area of around 2 lakh sq.ft., Lalani Quantum is easily accessible from the Mumbai-Pune Expressway as well as the Pune-Bangalore highway. The Lalani Group will also develop a Special Economic Zone (SEZ) and a star hotel in Pune.

| Comments (1)

Prime Minister calls for wide ranging reforms in the power sector | INRnews

New Delhi, India, May 28, 2007 - The Prime Minister, Dr. Manmohan Singh has stressed the need for a wide range of power sector reforms including open access and competition. Emphasizing the role of States and Centre in this reform process, the Prime Minister suggested that inter-state transmission needs to be truly opened up to competition and a separate and independent government entity be set up to control the National Load Despatch Centre. In addition, he underscored the importance of reducing transmission and distribution losses, launching a crash programme for capacity addition and taking steps to attract private investment. Dr. Manmohan Singh said this while inaugurating the Conference of Chief Ministers on the Power Sector, here today, which was attended by Shri P. Chidambaram, Union Minister of Finance, Dr. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Shri Sontosh Mohan Dev, Minister of Heavy Industries and Public Enterprises, several Union Ministers, Chief Ministers of States and Power Ministers of States.

| Comments (0)

May 25, 2007

Minister asks States to develop state highways on NHDP pattern | INRnews

New Delhi, India, May 25, 2007 - The Union Minister of Shipping, Road transport & Highways, Thiru T.R. Baalu has asked the States to formulate the plans for developing and strengthening the State Highways on the lines of National Highways Development Programme (NHDP) which is under implementation for the National Highways. Thiru Baalu was delivering the Valedictory address at the Conference on ‘Public-Private Partnership (PPP) in State Highways’ here today.

| Comments (0)

WTO views on SEZ rebutted, $8 billion investment in SEZ already made | INRnews

New Delhi, India, May 25, 2007 - In the 15 months since the Special Economic Zones (SEZ) Act and Rules were notified on 10th February 2006, investments of the order of $ 8 billion have already been made and another $25 billion investment is underway. This was indicated in the reply on behalf of India by Shri G.K. Pillai, Commerce Secretary, at the World Trade Organisation (WTO) Trade Policy Review Meeting for India in Geneva today.

| Comments (0)

Higher investment in infrastructure needed to maintain growth momentum | INRnews

New Delhi, India, May 25, 2007 - Deputy Chairman, Planning Commission, Dr. Montek Singh Ahluwalia today called upon the Private Sector to prepare for a bigger role in the development of infrastructure. Inaugurating the Conference on Public Private Partnership in State Highways, here, he said latest estimates of the Planning Commission indicate that economy was likely to grow at an average of 9 per cent plus during the Eleventh Plan period. This would need a major increase in the investment requirement for infrastructure.

| Comments (0)

May 24, 2007

Indian infrastructure can absorb more than $150 billion FDI - Minister | INRnews

New Delhi, India, May 24, 2007 - The Minister for Civil Aviation, Shri Praful Patel has asked British investors to participate in a big way in India’s development saying that Indian infrastructure alone can absorb $150 billion FDI over the next five years.

| Comments (0)

GHIAL awards Plaza Premium Lounge to manage Lounges in New Hyderabad International Airport | INRnews

Hyderabad, India, May 24, 2007 - In continuation of its quest in bringing world-class airport services to Hyderabad, the New Hyderabad International Airport in Shamshabad has tied up with Plaza Premium Lounge of Hong Kong for maintaining and managing LOUNGES in the airport. This concession agreement is for a period of 7 years starting from the date of operation of the airport.

| Comments (0)

May 23, 2007

Rural Road Development Plan Vision-2025 | INRnews

New Delhi, India, May 23, 2007 - The `RURAL ROAD DEVELOPMENT PLAN : VISION 2025’ was released here today by the Prime Minister, Dr. Manmohan Singh during the inaugural session of the two-day National Conference on Rural Roads organized by the organized by the National Rural Roads Development Agency (NRRDA), an autonomous agency under the Ministry of Rural Development and the Construction Industry Development Council (CIDC).  Some of the salient features of the Plan are given below:

| Comments (0)

PM inaugurates national conference on rural roads | INRnews

New Delhi, India, May 23, 2007 - The Prime Minister, Dr. Manmohan Singh, while inaugurating the National Conference on Rural Roads, here today, organized by the National Rural Roads Development Agency (NRRDA), an autonomous agency under the Ministry of Rural Development and the Construction Industry Development Council (CIDC), has said that rural roads connectivity is a critical component of the overall strategy for rural development as it promotes access to economic and social services and facilitates the growth processes in the rural economy.

| Comments (0)

May 22, 2007

Minister announces details of merged airlines | INRnews

New Delhi, India, May 22, 2007 - The Minister of Civil Aviation, Shri Praful Patel today officially announced that after the merger of Air India and Indian, the new entity will be known as ‘Air India’. While the new company will have its registered office in New Delhi, its corporate office will be in Mumbai and its office for domestic operations as well as the Strategic Business Units will be mostly based in Delhi. The Mascot of the merged airline will be the Maharaja. The new livery and logo of the merged airline were also unveiled by the Minister today.

| Comments (0)

May 18, 2007

India needs another 125,000 hotel rooms by 2010 to meet surging demand | INRnews

Mumbai, India, May 18, 2007 - Recently, the Haryana Urban Development Authority (HUDA), Haryana state government body responsible for the overall development of the town sold a five-acre plot for a five-star luxury hotel in Information Technology-Business Process Outsourcing hub Gurgaon that adjoins Delhi, national capital of India for more than $50 million (Rs.250 crore), bringing to focus India’s fast growing hospitality sector. According to advisory firm IndusView, it is estimated that global hospitality companies will invest more than $1 billion (Rs.4100 crore) in new projects and expansion in the next two years due to a huge rise in business and leisure travel.Mumbai, India, May 18, 2007 - Recently, the Haryana Urban Development Authority (HUDA), Haryana state government body responsible for the overall development of the town sold a five-acre plot for a five-star luxury hotel in Information Technology-Business Process Outsourcing hub Gurgaon that adjoins Delhi, national capital of India for more than $50 million (Rs.250 crore), bringing to focus India’s fast growing hospitality sector. According to advisory firm IndusView, it is estimated that global hospitality companies will invest more than $1 billion (Rs.4100 crore) in new projects and expansion in the next two years due to a huge rise in business and leisure travel.

| Comments (0)

ING real estate looking at deals in India | INRnews

Hong Kong, May 18, 2007 - ING Real Estate a unit of global financial major the ING Group is looking at real estate investments in India and could set up a fund for this purpose.

| Comments (1)

Ministry of Civil Aviation evolves the concept of Merchant Airports | INRnews

New Delhi, India, May 18, 2007 - In order to evolve the concept of ‘Merchant Airports’, Secretary, Ministry of Civil Aviation, Shri Ashok Chawla held a meeting with various stakeholders with a view to finalizing a policy initiative on the subject shortly.

| Comments (0)

ECB policy modified to withdraw exemption for township development | INRnews

New Delhi, India, May 18, 2007 - The External Commercial Borrowing (ECB) policy is constantly reviewed by the Government in consultation with the Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and the lessons of experience. In a move aimed at slowing down the flow of foreign debt into the real estate sector, the Finance Ministry has decided to modulate the capital inflows through ECB by modifying some aspects of the policy.

| Comments (0)

May 17, 2007

Integrated development of towns needed to develop new growth centers - Minister | INRnews

New Delhi, India, May 17, 2007 - Union Urban Development Minister Shri S. Jaipal Reddy says that most cities in the country have reached the saturation point and integrated development of towns beyond the cities has emerged as a viable alternative for new growth centers. He was delivering the inaugural address at the annual convention of Indian Buildings Congress in New Delhi today. He stated that towns need a long term-planning framework and prioritize infrastructure investment. Shri Reddy is of the view that integrated development should involve the stakeholders to foster ownership and to allow benefits to every section of the society.

| Comments (0)

Agreement on Trans-Asian Railway | INRnews

New Delhi, India, May 17, 2007 - Railways have recently approved the signing and ratification of the Inter-governmental agreement on Trans-Asian Railway.

| Comments (0)

AAI to construct cargo complex at Trivandrum airport | INRnews

New Delhi, India, May 17, 2007 - The Airports Authority of India (AAI) plans to construct a cargo terminal facility adjacent to the Terminal Building at the Trivandrum Airport. This information was given by Shri Praful Patel, Minister for Civil Aviation in the Parliament today.

| Comments (0)

Big Ships at Indian Ports | INRnews

New Delhi, India, May 17, 2007 - Depending on the depths available in the entrance channels and berths, and the availability of equipment, vessels of various sizes are handled at Indian Ports.

| Comments (0)

Cost of road construction nd NHDP-II | INRnews

New Delhi, India, May 17, 2007 - The average cost per km for Phase-II of National Highways Development Project (NHDP) was approved at Rs. 4.75 crore for upgradation to 4-lane for flexible pavement and Rs. 6.45 crore per km for rigid pavement at 2002 prices. However the cost as considered in the Financing Plan for NHDP Phase-II, approved by Committee on Infrastructure, is now Rs. 6.52 crore per km at 2006 prices.

| Comments (0)

Freight Corridor project | INRnews

New Delhi, India, May 17, 2007 - Ministry of Railways have decided that existing safety surcharge now stands subsumed in passenger fares in form of a development charge for partial funding of Dedicated Freight Corridor project. It is expected that Rs. 845 Crore per annum would accrue in form of development charge. No additional levy has been imposed to fund Dedicated Freight Corridor project.

| Comments (0)

Automated Parking Management system at New Hyderabad International Airport | INRnews

Hyderabad, India, May 17, 2007 - In line with its commitment to bring world-class services to Hyderabad, the New Hyderabad International Airport in Shamshabad has been set in motion by setting up an Automated Parking Management System at the airport premises.

| Comments (0)

May 15, 2007

Indiabulls subsidiary acquires hotel property in Goa | INRnews

Mumbai, India, May 15, 2007 - Indiabulls Real Estate Ltd has announced that Diana Buildwell Pvt Ltd, a Wholly-owned Subsidiary of the Company, has acquired a sea-facing hotel property together with land measuring about 21 acres situated at Vagator Beach, Goa, from Sterling Holiday Resorts India Ltd.

| Comments (0)

Yatra Capital Limited announces its first investment in Real Estate in India in Pune | INRnews

London, May 15, 2007 - Yatra Capital Limited (“Yatra”) the first Euronext quoted Indian real estate company has announced its first investment in Indian real estate. Yatra has committed up to € 21.6 million in equity for a 49% stake in a joint venture which will initially develop three residential sites in Pune, Maharashtra.

| Comments (0)

May 13, 2007

City Group Launches Amanora Park Township in Hadapsar, Pune | INRnews

Pune, India, May 13, 2007 - City Group, a real estate promoter and builder in the State of Maharashtra, has announced the launch of Amanora Park Town, a unique, exclusive and first ever complete township project in the state of Maharashtra, under Govt. of Maharashtra’s special Township Policy. The infrastructure like wide roads, reliable power supply, 24 x 7 water supply, cycle tracks, and footpaths will be developed across the township by the developer.

| Comments (6)

Printo launches its largest retail store in Whitefield, Bangalore | INRnews

Bangalore, India, May 13, 2007 - Printo, India’s first retail printing brand, announced the launch of its 4th and largest Bangalore store at Whitefield. The Whitefield outlet is 4th in a chain of 200 stores which the company will roll out across India over the next three years. The next store is expected in Malleswaram by end May. Small and large businesses use Printo's retail stores for business cards, document printing & binding, posters, certificates and marketing collateral. Most products are delivered either instantly or in less than 24 hours.

| Comments (0)

May 11, 2007

Sobha Developers to launch integrated township in Kerala | INRnews

Bangalore, India, May 11, 2007 - Sobha Developers Ltd has announced that the Company will be launching its first integrated township "Sobha City" in Thrissur, Kerala on May 13, 2007. This will be developed in 71 acres of land with a developable area of over 3.50 million SFT. This integrated town ship will have Super Luxury Apartments, Villas, Shopping Mall, Office Complexes, Hotel, Multiplex, and Convention Centre with Multi Speciality Hospital, located on the Thrissur - Guruvayoor highway. This project is expected to be completed over a period of five years.

| Comments (0)

Grade – A office space in India – Is Oversupply building up?

Mumbai, India, May 11, 2007 - The Indian A-Grade leasehold office space markets are currently at an all time high; both in terms of the quantum of space leased per annum and the prevailing rental values. A study conducted by global property advisers DTZ, reveals that while demand for the A-Grade leasehold office space continues to remain healthy, most cities in India, are seeing the beginning of an oversupply situation that will continue in the short to medium term.

| Comments (1)

May 10, 2007

Sahara Infrastructure & Housing launch Sahara City Homes Lucknow | INRnews

Lucknow, India, May 10, 2007 - Sahara Infrastructure & Housing (Sahara I&H), a real estate company, today launched Sahara City Homes township in Lucknow. The township is the first one of the ‘Sahara City Homes’ townships which Sahara Infrastructure and Housing will be developing in 217 cities across India.

| Comments (2)

May 09, 2007

Indore to get new township - Silver Springs | INRnews

Indore, India, May 09, 2007 - Silver Springs', M.P's first FDI promoted US $ 180 Million Integrated Township project will be inaugurated by the CM Shri Shivraj Singh Chauhan later today. This township project accorded Mega status by the State Government is being jointly promoted by Fire capital Fund Pvt Ltd, a Real Estate Private Equity Fund and the M Jhaveri Group of Indore. Having 6 million square feet of residential and commercial space, the township is located on the A.B Road bypass, approximately 9 kms. away from the centre of the city. 

| Comments (1)

Ansal Properties enters into MOU with a Real Estate Company in Dubai | INRnews

Mumbai, India, May 09, 2007 - Ansal Properties & Infrastructure Ltd has announced that a Memorandum of Understanding (MOU) / Term Sheet has been entered between the Company and Deyaar Development PSC, a real estate Company in UAE, with head quarters in Dubai, (in short Deyaar), for developing a mega mixed use township comprising of residential, commercial, institutional and industrial properties in India.

| Comments (0)

May 07, 2007

ITC Sonar Bangla first hotel in the world to get carbon credits for energy conservation initiatives | INRnews

Kolkata, India, May 07, 2007 - ITC Sonar Bangla, Kolkata has become the first hotel in the world to obtain Certified Emission Reductions (CERs) issued under the aegis of the United Nations Framework on Climate Change Convention. These CERs, also known as Carbon Credits, are issued under the Clean Development Mechanism (CDM) of the Kyoto Protocol. The CERs have been issued after an exhaustive evaluation process. Carbon Dioxide emission reduction has been achieved through energy conservation initiatives such as waste heat recovery, improved pumping systems and better efficiencies in the air conditioning system.

| Comments (0)

May 04, 2007

Adlabs Acquires 23 Screens In Delhi NCR, UP, Punjab & Haryana | INRnews

New Delhi, India, May 04, 2007 - Adlabs Films Limited, a member of the Reliance Anil Dhirubhai Ambani Group and the leading entertainment conglomerate in the country, today entered into an agreement with Rave Entertainment to acquire the right to conduct cinema exhibition business at one operational multiplex in Kanpur and six more projects under implementation in NCR, Uttar Pradesh, Punjab and Haryana totaling 23 screens. This acquisition by itself would contribute to an increase in Adlabs' multiplex presence by five properties (17 screens) within the next four months.

| Comments (0)

UAE-based Realty Major, Al Fajer Properties Eyes India Real Estate through Joint Venture | INRnews

New Delhi, India, May 04, 2007 - Al Fajer Properties, one of the leading realty developers from Dubai, today announced its India investment strategy which will include developing world-class realty projects in India through a joint venture and creating a real estate fund to facilitate investments by small investors in Dubai properties.

| Comments (0)

May 03, 2007

New Hyderabad International Airport leases land to Indian Airlines for MRO facility | INRnews

Hyderabad, India, May 03, 2007 - GMR Hyderabad International Airport Ltd, (GHIAL) has signed a lease agreement with Indian Airlines Limited (IA) for setting up Maintenance, Repair & Overhaul (MRO) facility at the upcoming Rajiv Gandhi International Airport at Hyderabad.

| Comments (0)

New Hyderabad Airport awards Duty Free Concession to Nuance-Shoppers Stop consortium | INRnews

Hyderabad, India, May 03, 2007 - GMR Hyderabad International Airport Limited, (GHIAL), which is developing an international airport in Shamshabad, has crossed another important milestone this month. It has awarded the Retail Duty Free Concession to Nuance-Shoppers' Stop, a Swiss-Indo consortium. This contract is valid for seven years.

| Comments (0)

May 02, 2007

Vijay Shanthi Builders Ltd. launches 'Solitaire'- Lifestyle Homes on the IT Corridor | INRnews

Chennai, India, May 02, 2007 - Vijay Shanthi, South India's leading real estate developer launches Solitaire its latest offering in the lifestyle homes segment. The luxury apartments are located on the main road in Seevaram Village, Old Mahabalipuram Road (OMR). The project houses 16 apartments of 2,000 sq feet each.

| Comments (0)

April 23, 2007

Serviced Apartments emerge as an alternative to hotels in Bangalore | INRnews

Bangalore, India, April 23, 2007 - With the rise in Indian and international business traffic to Bangalore, the demand within the hospitality industry has skyrocketed. The new genre of serviced apartments has hence emerged as a cost effective alternative for business travellers and tourists. These serviced-apartments are largely operated by apartment owners or builders and usually offer entire apartments (1, 2 or 3 bedroom) or studio units or shared apartments.

| Comments (3)

April 22, 2007

Demand for serviced office space grows in Bangalore | INRnews

Bangalore, India, April 22, 2007 - Bangalore, with a projected supply of 13 million sq.ft. of office space for the year, has not quite been able to satiate the immediate demand. The shortage of ready supply as well as heavy pre-leasing by corporates has increased the need for interim office space. Business Centres have strong growth recently with more focus on quality and international service standards.

| Comments (1)

April 19, 2007

Parsvnath Developers launches 440 Air-Conditioned Apartments in Panchkula near Chandigarh | INRnews

Chandigarh, India, April 19, 2007 - Parsvnath Developers Ltd has announced that on April 19, 2007 the Company has performed the earth breaking ceremony and launched Parsvnath Royale, a premium multistoryed group-housing complex in Panchkula, less than 11 km from Chandigarh. Parsvnath Royale, a 146 Crores project is spread over an area of 7.2 acres and is strategically located in the heart of the city. This land is a part of license number 610/2006 in the name of Samar Estates Pvt Ltd.

| Comments (1)

TCS to expand in Hyderabad – Plans “State-of-the-Art” Campus for 15,000 seats | INRnews

Hyderabad, India, April 19, 2007 - Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing organization, announced that it had signed a Memorandum of Understanding (MOU) with the Government of Andhra Pradesh to acquire 75 acres of land to develop a state-of-the-art development facility near the new international airport in Hyderabad. TCS will invest up to Rs 400 crore in the facility to create a capacity of 15,000 seats at Adibatla, which is part of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) promoted Special Economic Zone.

| Comments (1)

April 18, 2007

Ascendas to invest S$570 million in two IT park projects in Maharashtra, India | INRnews

Mumbai, India, April 18, 2007: Ascendas, Asia’s leading business space solutions provider, today announced plans for two major business parks in Maharashtra. The projects comprise joint ventures with government agencies: A partnership with the Maharashtra Industrial Development Corporation (MIDC) for an IT Park in Pune and a second joint venture with the Maharashtra Airport Development Company (MADC) for an IT Park in Nagpur. Both these projects are located within Government-promoted and approved SEZ areas.

| Comments (0)

Rs. 20 Cr. Public Money Rots With NOIDA Coffer - ASSOCHAM | INRnews

New Delhi, India, April 18, 2007 - Three years have gone by and NOIDA Authority continues to hold back a sum of Rs.20 crores that it collected from 1,70,000 plot owning sspirants in the garb of “token money”, without even remotely indicating to them fresh dates for allotments as earlier draw was cancelled under allegation of favouritism and nepotisim in 2004, according to Associated Chambers of Commerce & Industry of India (ASSOCHAM).

| Comments (1)

April 16, 2007

Parsvnath Developers announces Parsvnath City in Dharuhera, Haryana | INRnews

New Delhi, India, April, 16 2007 - Parsvnath Developers Ltd has announced that, on April 16, 2007, the Company has performed the earth breaking ceremony for Parsvnath City, a high-end residential township in Dharuhera, Haryana. Bookings for residential plots in this township are now open.

| Comments (6)

New five-star hotel for Surat | INRnews

Ahmedabad, India, April 16, 2007 - Ahmedabad based Bhagwati Banquets and Hotels Limited plans to develop a 100-room five-star hotel in Surat near the City Pulse multiplex.

| Comments (1)

April 13, 2007

Bajaj Auto Commissions New Plant at Pantnagar, Uttarakhand | INRnews

Pantnagar, India, April 13, 2007 - Bajaj Auto Ltd has announced that on April 09, 2007, the Company has inaugurated its Greenfield Plant with a planned capacity of one million motorcycles per annum at Pantnagar, Uttarakhand. Built on a total area of 65 acres with the balance 155 acres allocated to the vendor cluster, the Pantnagar facility would be the Company's fourth Plant & first Plant outside Maharashtra. The unit has a plant area of 40,000 sq mtr and will employ 600 line engineers who have been trained at Chakan for 3 months.

| Comments (0)

April 12, 2007

CCEA approves multiple national highway projects | INRnews

New Delhi, India, April 12, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for the multiple National Highway projects.

| Comments (0)

CCEA approves Bihar highway projects | INRnews

New Delhi, India, April 12, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for highway projects in Bihar.

| Comments (0)

Cabinet approves 4 lane highway to Cochin container terminal | INRnews

New Delhi, India, April 12, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for undertaking the Project for Rs.557.0 crore for providing 4 lane NH Connectivity to the proposed International Container Transshipment Terminal (ICTT) at Vallarpadam, Cochin, Kerala using cess funds.

| Comments (0)

Rs 2537 crore released for urban infrastructure projects in 2006-07 | INRnews

New Delhi, India, April 12, 2007 - Rs.1353 crore have been released as the first installment of central assistance for the projects under the Jawaharlal Nehru National Urban Renewal Mission during 2006-07. Out of the approved projects, 64 are for water supply, 39 for sewerage, 39 for road and flyovers, 27 for drainage and 20 for solid waster management. 205 projects have been approved involving a total cost of Rs. 17,000 crore. These projects will get central assistance of about Rs. 8300 crore.

| Comments (0)

Ahmedabad Municipal Corporation to tag property tax with education cess | INRnews

Ahmedabad, India, April 12, 2007 - The Ahmedabad Municipal Corporation (AMC) is to levy an education cess on the property tax resulting in an increase of 5%-15% on tax on residential properties and 10% to 30% on tax on commercial properties.

| Comments (0)

April 11, 2007

Satra Properties develops mall in Hughes Road, Mumbai | INRnews

Mumbai, India, April 11, 2007 - Satra Properties India Ltd has announced that their project "Prime Mall Down Town" at Hughes Road is going in full swing. The Company expects the project to be completed within 12 to 15 months.

| Comments (1)

Sri Vatsa Hotels to construct hotel in Secunderabad | INRnews

Hyderabad, India, April, 11 2007 - With reference to the earlier announcement dated February 21, 2007 regarding the proposed acquisition of 100% stake in M/s. Sri Vatsa Hotels Pvt Ltd (SVHPL), Panoramic Universal Ltd has announced that the Company on April 10, 2007 has signed a Memorandum of Understanding with the shareholders of SVHPL for the acquisition of their 100% stake in the said Company. The cost of acquisition is Rs 176.5 Million. The acquired Company shall construct a three / four star hotel with approximate 90 rooms at its premises located in the heart of Secunderabad, just 1.5 km away from the Hyderabad Airport.

| Comments (0)

April 10, 2007

Ascendas to embark on S$270 million expansion of International Tech Park Bangalore | INRnews

Bangalore, India, April 10, 2007 – Ascendas, Asia’s leading business space provider, celebrated today the 10th anniversary of its flagship project in India, the International Tech Park Bangalore (ITPB). It also inaugurated the Park’s 6th building, the Navigator.

| Comments (0)

Ascendas to embark on S$270 million expansion of International Tech Park Bangalore | INRnews

Bangalore, India, April 10, 2007 – Ascendas, Asia’s leading business space provider, celebrated today the 10th anniversary of its flagship project in India, the International Tech Park Bangalore (ITPB). It also inaugurated the Park’s 6th building, the Navigator.

| Comments (0)

DDA launches integrated management system | INRnews

New Delhi, India, April 10, 2007 - The Urban Development Minister, Shri S. Jaipal Reddy has said that transparency is one way to reducing corruption and increasing the level of efficiency. Speaking at the launch of the Integrated Management System for a complete online computerization of the Delhi Development Authority here today, Shri Reddy said that computer is a wonderful tool, which enables government and governance as a transparent system. He said that the Integrated Management System would streamline the information in the Authority. The Minister stated that the UPA Government has laid great stress on e-governance and the integrated management system at the DDA will be an example to other organizations not only in Delhi but also in the country.

| Comments (0)

April 09, 2007

Trent enters into an agreement with the Xander Group for retail real estate | INRnews

Mumbai, India, April 09, 2007 - Trent Ltd has announced that the Company has entered into an Agreement with The Xander Group Inc., a global private equity firm. The Xander Group Inc. will through one or more of its Fund vehicles invest in the development of an institutional retail real estate portfolio in India in partnership with high quality Indian developers.

| Comments (1)

DDA to go in for online computerisation | INRnews

New Delhi, India, April 09, 2007 - The Delhi Development Authority is to go in for online computerization to provide efficient services to the citizens of Delhi. The Authority has decided to computerize all the operations and functions of the organization under computerization programme called, Integrated Management System, IMS. The system will automate all functions and operations of the DDA and usher in a new era in the working of the Authority and will be of immense benefit to the citizens of Delhi.

| Comments (0)

Tourism Corp of Gujarat to sell hotel properties | INRnews

Gandhinagar, India, April 09: The Tourism Corporation of Gujarat Limited (TCGL) is to sell six hotel properties and nine parcels of land as part of a government initiated restructuring. TCGL has already advertised the properties for sale and expects to realize Rs. 50 crore from the sale.

| Comments (2)

April 06, 2007

Morgan Stanley to pick up stake in IHHR Hospitality | INRnews

New Delhi, India, April 06, 2007 - Global financial services firm Morgan Stanley is looking to pick up a 15%-20% stake in New Delhi-based IHHR Hospitality that runs the Ananda and Ista Spa and hotel chain. This was reported by the Economic Times.

| Comments (0)

April 05, 2007

Freeze on SEZs lifted - ceiling on size fixed at 5000 hectares | INRnews

New Delhi, India, April 05, 2007 - The Empowered Group of Ministers (EGOM) on Special Economic Zones (SEZs) met here today and discussed various issues relating to SEZs.  It decided, inter-alia, to lift the current freeze on SEZs, with tighter rules and prescribed a ceiling on the size of SEZs, which has now been fixed at an upper limit of 5000 hectares.

| Comments (0)

April 04, 2007

New national policy on urban housing on the anvil | INRnews

New Delhi, India, April 04, 2007 - The Government is finalizing new National Urban Housing and Habitat Policy to tackle housing shortage in the country. Addressing a two-day National Conference on ‘Affordable Housing for All’here today,the Minister of State (Independent Charge) Housing and Urban Poverty Alleviation, Kumari Selja said that the new Policy is based on the feedback from the sectoral developments since 1998. She said that promotion of sustainable cities through adequate provisions of housing and related infrastructure is the need of the hour.

| Comments (0)

Minister calls for building world class infrastructure in major ports | INRnewsMinister calls for building world class infrastructure in major ports | INRnews

New Delhi, India, April 04, 2007 - The Union Minister of Shipping Road Transport and Highways Thiru T.R. Baalu has called upon the Major Ports to brace themselves for the challenges ahead and strive hard for developing the Indian ports to meet the growing demands of country’s burgeoning export-import needs in the coming years.

| Comments (0)

Empowered committee seeks pollution free traffic in Delhi and NCR | INRnews

New Delhi, India, April 04, 2007 - The first Meeting of the Empowered Committee of the National Capital Region Planning Board was held under the Chairmanship of Secretary, Urban Development Ministry, Shri M. Ramachandran in New Delhi today. Chief Secretary of Haryana, Additional Chief Secretary of Rajasthan besides senior officials from the Government of Uttar Pradesh, and Government of National Capital Territory of Delhi and other officials from the Central Government Departments, attended the meeting.

The meeting discussed issues relating to unrestricted movement of buses, taxis and auto rickshaws within the National Capital Region, use of CNG fuel to reduce pollution levels in the towns of National Capital Region, opening large number of CNG Pump Stations in the NCR as well as improving connectivity in the National Capital Region both by extension of Metro to satellite towns around NCT of Delhi as well as better framework of roads in preparation for the forthcoming Commonwealth Games-2010.

| Comments (2)

April 03, 2007

Indore realty firm to raise $150 million on AIM | INRnews

Mumbai, India, April 03, 2007 - The London Stock Exchange's Alternative Investment Market (AIM) has now started attracting the real estate companies of tier-II cities also.  Indore-based Entertainment World Development Private Ltd (EWDPL) is all set to raise US $150 million through the initial public offering (IPO) on the AIM.

| Comments (0)

Purva Swan Lake apartments launched on OMR in Chennai | INRnews

Chennai, India, April 03, 2007: Puravankara Projects Limited, a real estate developer, today announced the launch of its residential project called 'Purva Swan Lake' at the IT Corridor. The project is situated at Kelambakkam on the Old Mahabalipuram Road. Apartments start at Rs.39 lakhs.

| Comments (1)

Banks raise home loan interest rates | INRnews

Mumbai, April 03, 2007 - Various banks including ICICI Bank, HDFC and PNB have increased their home loan rates. This follows the Reserve Bank of India's recent decision to hike the inter-bank short-term lending rate by 0.25% and the mandatory deposits banks are required to make with the RBI by 0.5%. The CRR increase will squeeze money out of the banking system by forcing banks to deposit an extra Rs 15,500 crore with RBI. Controlling inflation is the central bank’s top priority.

| Comments (1)

April 02, 2007

Haryana Urban Development Authority announces Faridabad plot scheme results | INRnews

Faridabad, India, April 2, 2007 - INRnews has learnt that the Haryana Urban Development Authority - HUDA - has announced results of the Faridabad Plot Scheme for Sectors 2, 21D, 48, 62, 64 and 65.

| Comments (5)

Parsvnath Developers starts project for 3-Star Hotel at Shirdi | INRnews

Shirdi, India, April 02, 2007 - Parsvnath Developers has conducted a Bhoomi Pooja for a new hotel in Shirdi. The hotel is just 5 minutes away from Shirdi temple. The project worth Rs 20 crore is spread over a total area of 50,000 sq. feet.

| Comments (0)

Parsvnath Sterling launched in Ghaziabad | INRnews

Ghaziabad, India, April 02, 2007 - Parsvnath Developers conducted the earth breaking ceremony and announced the launch of Parsvnath Sterling, a residential group housing project on main GT Road, Ghaziabad, Uttar Pradesh.

| Comments (6)

March 30, 2007

Larsen & Toubro and Arun Excello to set up township in Maraimalai Nagar, Chennai | INRnews

Chennai, India, March 30, 2007 - L&T Urban Infrastructure Ltd and Arun Excello Infrastructure Pvt Ltd are to develop  Estancia, a 78 acre township, in Maraimalai Nagar on the GST road in the south of Chennai.

| Comments (46)

Mir Realtors plans township project in Thiruvananthapuram | INRnews Project Feature

Thiruvananthapuram, India, March 30, 2007 - Kerala-based Mir Realtors has launched a township project "The Greens" on 11 acres of land at Peroorkada in Thiruvananthapuram. The project will comprise 360 residential units including villas and flats. Total project cost is Rs.150 crore. The first phase of the project will be completed in 2009 and the second phase in 2011.

| Comments (0)

Satra Properties to open mall in Bhandup in October | INRnews

Mumbai, India, March 30, 2007 -  Satra Properties India Ltd has announced that construction of its project "Dream the Mall" at Bhandup, a suburb of Mumbai on the central railway line, is in full swing and  the project is expected to be completed by October 2007.

| Comments (0)

March 29, 2007

Pyramid Saimira signs MOU with Baderwals Infraprojects | INRnews

Mumbai, India, March 29, 2007 -   Pyramid Saimira Theatre Ltd has announced that the Company and Baderwals Infraprojects Pvt Ltd plan to form a SPV for construction of 200 Malls-cum-Multiplexes in 4 years time with an approximate Project Cost of Rs 12000 Crore.

| Comments (0)

Gitanjali Gems to invest Rs 100 crore in luxury malls | INRnews

Mumbai, India, March 29, 2007 -  Gitanjali Gems Ltd has announced that the Company's Group intends to foray into the luxury retail market through its new venture "Luxury Connexions (Lx) & Luxury Malls". The Group plans to invest Rs 100 Crore over next 36 months for establishing luxury malls across the country and acquiring international brands which would be sold through the "Luxury Connexions (Lx)" outlets.

| Comments (0)

March 28, 2007

Karnataka government to auction 300 acres of land in Bangalore | INRnews

Bangalore, India, March 28, 2007 - The Karnataka government plans to auction more than 300 acres of government land in Bangalore - North, North-Additional, South, East and Anekal Taluks on April 4 and 11, 2007.

| Comments (2)

HUDA auctions ten sites for Rs 71.2 crore | INRnews

Mumbai, India, March 28, 2007 - The Haryana Urban Development Authority (HUDA) has earned an amount of Rs. 71.20 crore through the auction of its ten sites on 27th march 2007.

| Comments (0)

Parsvnath Developers launch 100-acre Parsvnath City in Ujjain, Madhya Pradesh | INRnews

Ujjain, India, March, 28 2007 - Parsvnath Developers Ltd has announced that the Company has conducted the Bhoomi Pujan and announced the launch of a world-class township "Parsvnath City" at Dewas Road, Ujjain, Madhya Pradesh, spreading over 100 acres of land on March 27, 2007.

| Comments (2)

Valecha Engineering acquires land at Pune | INRnews

Mumbai, India, March 28, 2007 -  Valecha Engineering Ltd has announced that the Company has acquired 21.15 acres land at Bhawdi, Taluka: Haveli, Dist — Pune for its real estate operation & development.

| Comments (0)

Real estate business of Ajmera Group to be corporatised | INRnews

Mumbai, India, March 28, 2007 - Shree Precoated Steels Ltd has announced that the Company and a flagship of Ajmera Group has submitted the scheme of amalgamation with Anik Development Corporation Pvt Ltd (ADCPL), to the Hon'ble High Court for its approval after obtaining No Objection from BSE & NSE. The consideration given to the existing shareholders of ADCPL would be through issue of 4.16 Crore Equity Shares face value of Rs 10/- of the Company which has been arrived at ratio of 5 equity shares of the Company for every 6 equity shares of ADCPL. Commenting on the occasion Mr. Lodha, group CFO and Strategic Advisor of the Company said, "The main reason for an amalgamation is to start corporatising the real estate business of Ajmera Group and unlock the value of the same to the stake holders of the Company.

| Comments (0)

March 27, 2007

BSEL Infrastructure Realty bags tourism projects in Gujarat | INRnews

Mumbai, India, March 27, 2007 - BSEL Infrastructure Realty Limited has bagged two new projects in Gujarat for a star category hotel and development of world class tourist facilities.

| Comments (3)

March 23, 2007

Parsvnath Developers launches Parsvnath Privilege in Greater Noida | INRnews

New Delhi, India, March, 23 2007 - Parsvnath Developers Ltd has announced that the Company conducted the Bhoomi Pujan and announced the launch of 3-bedroom air-conditioned luxury condominium, Parsvnath Privilege in Sector Pi, Greater Noida (U.P.). Parsvnath Privilege has convenient connectivity to major landmarks of Delhi. Parsvnath Privilege will redefine luxurious living for the people of Greater Noida.

| Comments (0)

March 19, 2007

Hypo Real Estate Bank announces a facility for the development of office space at Global Tech Park in Bangalore | INRnews

Munich/London, March 19, 2007 - Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group announced today the signing of a INR 3,800,000,000 (c. EUR 74 million) Investment and Construction Facility in India. The facility has been provided to Tanglin Development for the financing and development of 2m square feet of additional IT office space at Global Tech Park in Bangalore.

| Comments (0)

March 18, 2007

Indian real estate market permeates to smaller towns and cities | INRnews

Mumbai, India, March 18, 2007 - According to leading global property consultancy firm Knight Frank, the real estate action is no longer limited to the large metropolises of India but has now permeated to the burgeoning smaller towns and cities. These emerging centres of growth are lending sparkle to India's booming economy. What is leading this transformation?

| Comments (1)

DDA invites tenders for 500 shops and offices | INRnews

New Delhi, India, March 18, 2007 - The Delhi Development Authority (DDA) is inviting tenders for purchase of 500 shops and offices in different areas of the capital. The closing date for receiving offers is March 30, 2007.

| Comments (0)

Commercial real estate prices record high in Mumbai | INRnews

Mumbai, India, March 18, 2007 - The British High Commission in Mumbai is contemplating a Rs.147 crore purchase of 42,000 sq.ft of office space in the Bandra-Kurla complex according to news reports. The actual carpet area is around 28,000 sq.ft .

| Comments (2)

March 17, 2007

FICCI Real Estate and Urban Infrastructure Delegation to Singapore | INRnews

New Delhi, India, March 17, 2007 - In order to facilitate and promote business interests in the real estate and urban infrastructure sector between India and Singapore FICCI is taking a business delegation to Singapore from April 2 to 4, 2007.

| Comments (0)

Conversion charges on land use to be kept high - Minister | INRnews

New Delhi, India, March 17, 2007 - Conversion charges on land use from agriculture to non-agriculture need to be kept fairly high to fund various welfare activities, and the bulk of the funds should go for building houses for the poor and weaker sections. Delivering the valedictory address at the National Consultation on “JNNURM: Developing Inclusive Cities” in New Delhi today, the Urban Development Minister, Shri S.Jaipal Reddy said that these conversion charges are minimal through out the country and need to be adequately increased. He also called for high on-site infrastructure development charges and evaluation and correction of the external development charges.

| Comments (0)

March 16, 2007

Delhi Master Plan envisages housing development under different models | INRnews

New Delhi, India, March 16, 2007 - The Master Plan for Delhi 2021 envisages the development of different types of houses through Public, Co-operative and Private sectors. About 40% of the housing need can potentially be satisfied through redevelopment and up-gradation of existing areas of Delhi and the remaining 60% can be met in new areas to be developed as urban extension.

| Comments (0)

Government plans to introduce national housing and habitat policy 2007 | INRnews

New Delhi, India, March 16, 2007 - The Government is concerned with the rise in prices of houses. To address this issue, the Government is going to introduce National Urban Housing and Habitat Policy 2007 with the aim to provide Housing facility to economically weaker section/low income group and other section of the society. This policy will bridge the gap between need and supply of housing and infrastructure. This was stated by the Minister of State (Independent Charge) for Housing & Urban Poverty Alleviation, Kumari Selja in a reply to a question by Shri Ravi Prakash Verma in Lok Sabha today.

| Comments (1)

Urban Infrastructure Real Estate Fund to raise $500 million | INRnews

Mumbai, India, March 16, 2007 - A Mauritius based fund with feeder funds in Jersey, the Urban Infrastructure Real Estate Fund (UIREF), is targeting to raise USD 500Mn for investment in the real estate sector in India.

| Comments (1)

Om Metals Infraprojects to develop a corporate park on the Delhi - Faridabad highway | INRnews

New Delhi, India, March 16, 2007 - OM Metals Infraprojects Ltd has aannund that the Company has recently acquired one plot of land measuring 16,000 Sq. Mtr. in an open tender.

| Comments (1)

Nineteen railway stations identified for making them world class | INRnews

New Delhi, India, March 16, 2007 - Nineteen stations viz. Pune, Carnac Bunder (Mumbai), Howrah, Lucknow, Anand Vihar (Delhi), Bijwasan (Delhi), Amritsar, Chandigarh, New Delhi, Varanasi, Chennai, Thiruvanthpuram, Secunderabad, Ahmedabad, Patna, Bhubaneshwar, Mathura, bangalore & Bhopal have been selected to convert into world class stations.

| Comments (0)

Mantri Realty to invest Rs 800 crore for real estate development in Hyderabad | INRnews

Hyderabad, India, March 16, 2007 - Mumbai based real estate development firm Mantri Realty is to develop 12 million sq.ft of space on a 60 acre property near Hitec City in Hyderabad at an investment of Rs.800 crore.

| Comments (3)

Parsvnath launches Rs 250 crore 5-Star Hotel, Multiplex and Mall in Ahmedabad | INRnews

Ahmedabad, India, March 16, 2007 - Parsvnath Developers Ltd has announced the launch of its 5- star hotel and Multiplex-cum-Commercial Mall project in Vejalpur, Ahmedabad on March 16, 2007. This marks the opening of bookings for commercial space in the coveted upcoming property.

| Comments (0)

March 15, 2007

Consensus Needed on Land Acquisition Policy, says ASSOCHAM | INRnews

New Delhi, India, March 15, 2007 - Expressing deep sorrow over the killing of 11 people at Nandigram, ASSOCHAM President, Mr. Venugopal N. Dhoot appealed to all political parties to find out an amicable solution and resolve the land acquisition issue for SEZs, instead of politicising which will dampen the industrial development of the state.

| Comments (0)

FICCI survey shows a 5-10% rise in real estate prices expected | INRnews

New Delhi, India, March 15, 2007 - A majority of Indian CEOs and CMDs do not foresee a collapse in the prices of real estate and disregarded the rising trend as a "bubble" according to a survey by industry chamber FICCI. The survey was conducted amongst leading real estate consultancy firms, developers, construction companies, builders and financial institutions.

| Comments (0)

March 14, 2007

Ptarmigan Capital fund launched - focuses on South India real estate | INRnews

Mumbai, India, March 14, 2007 - Craig S. Phillips, former Global Head of Securitized Products for Morgan Stanley, announced today the founding of Ptarmigan Capital LLC, an alternative asset management firm. The firm plans to focus on real estate-related investments, including private equity real estate investments in India and opportunistic investments in the U.S. residential markets. The firm has offices in Stamford, Connecticut and Bangalore, India.

| Comments (0)

Dabur India to set up Retail Venture | INRnews

Mumbai, India, March 14, 2007 - Dabur India Ltd has announced that the Company is setting up a chain of Health & Beauty (H&B) retail outlets spread across the country with an investment of Rs 140 Crores over next three years.

| Comments (1)

March 13, 2007

Hotel shortage in Delhi and other metros | INRnews

New Delhi, India, March 13, 2007 - The Minister of Tourism and Culture Smt. Ambika Soni has said that there is some accommodation shortage at a few metro centers. Nevertheless there has been 13.2% growth in foreign and 18.9% in domestic tourists.

| Comments (0)

Urban Infrastructure Opportunities Fund invests Rs 1,102 crore in Indian real estate | INRnews

Mumbai, India, March 13, 2007 - The Urban Infrastructure Opportunities Fund (UIOF) promoted by Anand Jain has invested Rs.1,102 crore in various real estate projects in the country for development of total built-up space of 70.2 million square feet.

| Comments (0)

New Bangalore Airport to open on April 2 | INRnews

Bangalore, India, March 13, 2007 - The opening date of the new International Airport at Bangalore, as fixed by M/s. Bangalore International Ltd., (BIAL), is April 2, 2008. This information was given by Shri Praful Patel, Minister for Civil Aviation in the Parliament today.

| Comments (0)

March 11, 2007

Ahmedabad Municipal Corporation to sell 34 hectares of riverfront property | INRnews

Ahmedabad, India, March 11, 2007 - The Ahmedabad Municipal Corporation (AMC) plans to sell 34 hectares of land on the Sabarmati riverfront for real estate development.

| Comments (0)

March 09, 2007

Union Minister approves road improvement works in Tamil Nadu and Karnataka | INRnews

New Delhi, India, March 09, 2007 - The Union Minister of Shipping, Road Transport and Highways, Thiru T.R. Baalu has approved road improvement works in Tamil Nadu and Karnataka.

| Comments (1)

JNNURM Funds release subject to repeal of Urban Land Act | INRnews

New Delhi, India, March 09, 2007 - Andhra Pradesh, Assam, Bihar, Jharkhand, Maharashtra and West Bengal have not repealed the Urban Land (Ceiling & Regulation) Act, 1976 so far. The Minister of State for Urban Development Shri Ajay Maken in a written reply told Lok Sabha today that according to the information received from the State Governments, the Repeal Act of 1999 is enforced in the States/UTs of Gujarat, Haryana, Karnataka, Madhya Pradesh, Punjab, Orissa, Rajasthan, Uttar Pradesh, NCT of Delhi, Pondicherry and Chandigarh. The Minister said that State Governments of Kerala and Tamil Nadu follow their own law for land ceiling.

| Comments (0)

National Buildings Construction Corp explores real estate development | INRnews

New Delhi, India, March 09, 2007 - National Buildings Construction Corporation Limited, NBCC, based on past experience, is now exploring the possibilities of purchasing land from the State Governments /Central Government /Government Bodies in various cities for development of Real Estate projects. It also expects to sell these properties at cheaper rates than the private sector builders at the same locations. The Minister of State for Urban Development Shri Ajay Maken stated this in a written reply in Lok Sabha today. He also said that the permission to undertake the Real Estate projects is covered in the Memorandum and Articles of Association of the Company. Shri Maken stated that the NBCC has been involved in the development of Real Estate for more than a decade.

| Comments (0)

Cement manufacturers agree to hold prices | INRnews

New Delhi, India, March 09, 2007 - Cement manufacturers have agreed to hold the price line and not increase cement prices any further for one year with effect from today and to absorb all the additional costs themselves, following prolonged deliberations with the Commerce & Industry Minister, Shri Kamal Nath, here today with senior representatives of the cement industry including the President of the Cement Manufacturers Association in the context of the recent increase in prices of cement. They have also agreed that if any concession is given to them by way of excise duty and other statutory levies, they would pass on the benefit of it entirely to the consumers.

| Comments (0)

March 08, 2007

Orbit Group purchases two acre plot in Kalina, Mumbai | INRnews

Mumbai, India, March 08, 2007 - Property developer Orbit Group has purchased a two-acre plot in Kalina, Mumbai from Gujarat Ambuja Cements for Rs. 333 crore, at a price per sq.ft of Rs.20,000.

| Comments (0)

March 07, 2007

Parsvnath to develop modern Multimedia-cum-Film City centre at Chandigarh | INRnews

New Delhi, India, March 07, 2007 - Parsvnath Developers Ltd on March 02, 2007 has announced that the Company would develop a state-of-the-art Multimedia-cum film city centre at Sarangpur, Chandigarh. The project valued at approximately Rs 800 crore, has been awarded to the company after a highly competitive bidding by some of the prominent developers of the Country.

| Comments (1)

Parsvnath Developers to build world-class mall at Rohini in Delhi | INRnews

New Delhi, India, March 07, 2007 - Parsvnath Developers Ltd has announced that the Company has won the mandate to build a world-class mall at Rohini in North West Delhi.

| Comments (2)

Parsvnath Developers acquires additional 50% stake in its JV Company | INRnews

New Delhi, India, March 07, 2007 - Parsvnath Developers Ltd on March 07, 2007 has announced the acquisition of the stake of its joint venture partner in Parsvnath Landmark Developers Pvt. Ltd (PLDPL).

| Comments (0)

Six-laning of Delhi to Meerut highway approved | INRnews

New Delhi, India, March 07, 2007 - Six laning of Delhi-Meerut section of National Highway (NH) has been approved. Preparation of Detailed Project Report (DPR) is in progress at present.

| Comments (0)

March 02, 2007

Delhi Master Plan 2021 envisages redensification of existing housing areas | INRnews

New Delhi, India, March 02, 2007 - According to MPD-2021, the estimated population of Delhi would be in the range of 220 to 230 lakhs in the year 2021, and additional 24 lakh dwelling units would be needed to meet the housing requirement. This was stated by the Minister of Urban Development, Shri S. Jaipal Reddy.

| Comments (0)

13 Railway sites entrusted to RLDA for commercial development | INRnews

New Delhi, India, March 02, 2007 - So far thirteen sites of the Indian Railways have been entrusted to the Rail Land Development Authority (RLDA) for commercial development according to the Minister of Railways, Shri R.Velu. These are: 1. Gwalior, 2. Nirala Nagar (Kanpur), 3. Belgharia, 4. Bidhan Nagar, 5. Halishahar, 6. Balighat, 7. Kanchrapara, 8. Gautam Budha Institute Gaya, 9. Railway Institute Vidhan Sabha Marg Lucknow, 10.Delhi Sarai Rohila, 11. Bangalore City, and 12. Visakhapatnam except Chavulamadum (two sites).

| Comments (0)

Delhi Metro to introduce Feeder Bus Service to connect 27 stations | INRnews

New Delhi, India, March 02, 2007 - Delhi Metro Rail Corporation proposes to start new feeder buses on 36 routes to provide better connectivity with Metro stations according to the Minister of state for Urban Development Ministry, Shri Ajay Maken.

| Comments (0)

Two new flyovers opened on Delhi - Gurgaon section of NH-8 | INRnews

New Delhi, India, March 02, 2007 - In continuing efforts to provide comfort to commuters between Delhi and Gurgaon, Thiru. T.R. Baalu, Union Minister of Shipping, Road Transport and Highways and Shri. B.S. Hooda, Chief Minister of Haryana opened to traffic the flyovers at IFFCO Crossing and South City junction on NH-8 in Gurgaon, Haryana today. These two flyovers on NH-8 complete the last leg of flyovers in Gurgaon section—with this the entire stretch between Mahipalpur to Rajeev Chowk is now open to traffic.

| Comments (0)

75,000 dwelling units required annually in Delhi - Delhi Master Plan 2021 | INRnews

New Delhi, India, March 02, 2007 - The Master Plan Delhi 2021 recognizes that in addition to redevelopment of existing areas there would still be need for development of housing to the extent of at least 75,000 dwelling units per annum in different categories. To review and assess the achievement, a five yearly target has been provided in the Plan with monitoring period of one to four years for different types of housing developments. The Minister of State for Urban Development Shri Ajay Maken stated this in a written reply in the Lok Sabha today.

| Comments (0)

27,000 hectares of land available for urbanisation in Delhi - Delhi Master Plan 2021 | INRnews

New Delhi, India, March 02, 2007 - According to the Master Plan for Delhi, MPD 2021 about 27,000 hectares of land, including some built up area, has been projected as available for urbanization. Minister of State for Urban Development, Shri Ajay Maken said that this land is broadly to be distributed in different land uses such as residential, commercial, green/ recreational facilities and circulation etc. in urban extensions.

| Comments (1)

Service Tax on property rental justified - Shome | INRnews

New Delhi, India, March 02, 2007 - Advisor to Finance Minister, Dr. Parthasarthi Shome justified imposition of service tax on property rental income, meant for commercial use and maintained that dividend distribution tax (DDT) has been kept at a marginal rate of 15% to give leverage for administrative expenses.

| Comments (0)

Linkages Between DTC Depots & Metros Necessary To Raise Its Occupancy | INRnews

New Delhi, India, March 02, 2007 - Establish suitable transportation linkages between hubs of economic activities to Metro stations so as to enhance occupancy in Metros run by Delhi Metro Railway Corporation (DMRC), which currently is highly under utilized to the extent of 75%, advises the Associated Chambers of Commerce & Industry of India (ASSOCHAM).

| Comments (0)

Land acquisition underway for IT firms in Rajarhat, Kolkata | INRnews

Kolkata, India, March 02, 2007 - The West Bengal Industrial Development Corporation has started acquiring land in the Rajarhat area for IT companies like Infosys, TCS and Wipro.

| Comments (0)

National Housing Bank to provide guarantees for reverse mortgage | INRnews

Mumbai, India, March 02, 2007 - The National Housing Bank which had earlier prepared a reverse mortgage scheme after discussions with banks and housing finance companies is to offer guarantees to senior citizens to protect them from any default by their lenders on reverse mortgage payments.

| Comments (2)

March 01, 2007

Metro to provide high speedexpress link between New Delhi Railway Station and International Airport | INRnews

New Delhi, India, March 01, 2007 - The Government has approved 'in principle' a proposal of Delhi Metro Rail Corporation (DMRC) Ltd. to provide a High Speed Express Link between New Delhi Railway Station to Indira Gandhi International Airport (IGIA) for a length of 18.775 km. at a total estimated cost of Rs.3811 crore (including taxes) subject to certain conditions.

| Comments (0)

Projects for Commonwealth Games | INRnews

New Delhi, India, March 01, 2007 - The process of seeking clearances from various agencies for the Commonwealth Games, 2010 related projects is an on-going process and any objections/clarifications raised by them are being suitably addressed by the implementation agencies concerned. For expediting the required clearances, an Empowered Committee has been set up under the Chairmanship of Chief Secretary, GNCTD with representatives from all the concerned agencies/authorities to facilitate speedy clearances in respect of the games related projects, which has been meeting regularly.

| Comments (1)

Railways identify 20 locations for budget hotels | INRnews

New Delhi, India, March 01, 2007 - The Indian Railways has decided to set up one hundred Budget Hotels all over the Indian Railways network through Indian Railway Catering & Tourism Corporation (IRCTC). According to the Minister of State for Railways, Shri R.Velu, these hotels will be set up by IRCTC on public private partnership on the unused railway land in the vicinity of railway stations. Out of these 100 budget hotels, tenders for 20 locations have been finalized and tender of 10 locations have been floated.

| Comments (0)

DDA reclaims 95 acres of land after clearing encroachment | INRnews

New Delhi, India, March 01, 2007 - The Delhi Development Authority (DDA) has reported that about 95.91 acres of its land has been reclaimed after the removal of encroachments during the year 2006. The Municipal Corporation of Delhi (MCD) has reclaimed area of about 2.75-lakh sqm. during the period from January to November, 2006.

| Comments (0)

25 projects cleared under JNNURM for Andhra Pradesh | INRnews

New Delhi, India, March 01, 2007 - According to the Minister of Urban Development, S. Jaipal Reddy, 59 proposals have been received from Andhra Pradesh for release of funds since the inception of the Jawaharlal Lal Nehru National Urban Renewal Mission under the sub-mission, Urban Infrastructure and Governance.

| Comments (0)

Real estate firm DTZ comments on the impact of the Budget on real estate in India | INRnews

Mumbai, India, March 01, 2007 - According to Mr. Ankur Srivastava, Managing Director, DTZ India, “ With the economy growing at a healthy rate, positive sentiment and only the shadow of inflation looming, this could have been an opportune time to initiate bold measures for long pending structural reforms in the sector. This opportunity appears to have been lost as no structural reforms like tenancy laws, land reforms, rationalisation of stamp duties etc. have been initiated.

| Comments (0)

Fortis Healthworld opens 10 health stores in NCR | INRnews

New Delhi, March 01, 2007 - Fortis Healthworld has opened ten round the clock health stores in the National Capital Region catering to all healthcare needs of the consumer.

| Comments (0)

Kuwait company to invest $136 million to set up three hotels in Kerala | INRnews

Kochi, India, March 01, 2007 - The Kuwait based KGA Group of companies is to invest $136 million to set up three hotels in the Southern Indian state of Kerala.

| Comments (0)

Andhra Pradesh Government to raise revenue from land sales | INRnews

Hyderabad, India, March 01, 2007 - The Andhra Pradesh Finance Minister Mr. K. Rosaiah has said that the State plans to raise Rs.8,500 crore from the sale of land to part-fund the Rs.32,973 crore annual budget.

| Comments (0)

Lack of computerised records makes land registration risky in Bihar | INRnews

Patna, India, March 01, 2007 - Unlike states like Tamil Nadu and Karnataka where all land records are computerised, this process has not yet been completed in Bihar. It is common to hear of land records being lost or unavailable, or not updated since 1961. This makes it difficult for buyers to verify ownership of land or to see if it is disputed.

| Comments (0)

February 28, 2007

Budget 2007-08 : Infrastructure continues to be a key focus area | INRnews

New Delhi, India, February 28, 2007 - Continuing the focus on infrastructure building, the Union Finance Minister Shri P. Chidambaram has proposed enhancing of Budgetary support to some major projects in the Union Budget 2007-08.

| Comments (0)

Revolving fund of Rs 100 crore to enable infrastructure building | INRnews

New Delhi, India, February 28, 2007 - In his Budget proposals in the Lok Sabha today, the Finance Minister Shri P. Chidambaram noted that the Public-Private Partnership model has enabled greater private sector participation in infrastructure building.

| Comments (0)

5 year tax holiday in Delhi to encourage hotel infratructure development | INRnews

New Delhi, India, February 28, 2007 - Fresh tax concessions have been allowed in the Budget 2007-08 to promote infrastructure facilities. A five-year holiday from income tax has been allowed for two, three or four star hotels.

| Comments (0)

February 27, 2007

JNNURM success depends on comprehensive planning and effective monitoring | INRnews

New Delhi, India, February 27, 2007 - Jawahar Lal Nehru National Urban Renewal Mission, JNNURM is a significant move to address the creaking urban infrastructure. The Economic Survey, which was tabled in Parliament today, says that comprehensive planning and effective monitoring are essential to take this scheme successfully to its logical conclusion. The Survey further says that outlook on urban infrastructure will depend critically on how fast the finances and functional efficiency of urban local bodies is improved.

| Comments (0)

Hindustan Motors to develop IT Township and Auto Park in West Bengal | INRnews

Kolkata, February 27, 2007 - Auto maker Hindustan Motors Ltd has announced that the Company has finalised an arrangement with Bangalore-based Shriram Properties Ltd, for the development of 'An integrated IT Township and Auto Park' in 314 acres of Land specifically identified for this purpose and in accordance with the conditions laid down by the West Bengal Government in its approval order dated September 13, 2006.

| Comments (1)

February 26, 2007

Plaza Centers sets up JVs for Pune real estate projects | INRnews

London, UK, February 26, 2007 - Plaza Centers N.V. , a leading emerging markets property developer, today announces that it has, through  its two wholly owned subsidiaries, acquired two joint venture projects in India.

| Comments (0)

February 25, 2007

Cognizant gets 40 acres of land in Hyderabad | INRnews

Hyderabad, India, February 25, 2007 - Leading IT company Cognizant Technology has been allotted 40 acres of land in Adibatla village of Ranga Reddy district near Hyderabad. The company plans to build a 2 million sq.ft office on the plot at an investment of Rs.330 crores.

| Comments (0)

February 23, 2007

Commercial property rentals in Whitefield, Bangalore soften | INRnews

Bangalore, India, February 23, 2007 - Office space in Bangalore's IT suburb of Whitefield can be rented cheaper now than a year ago thanks to an oversupply situation in the area.

| Comments (2)

Tidco moots new IT Park and Convention center in Taramani, Chennai | INRnews

Chennai, India, February 23, 2007 - The Tamil Nadu Industrial Development Corporation (TIDCO), envisages establishment of an IT/ITES SEZ on 25 acres of land (originally occupied by Film City) near Tidel Park on Chennai's IT Corridor on the Old Mahablipuram Road.

| Comments (1)

Delhi airport infrastructure investment drives up realty prices in vicinity | INRnews

Gurgaon, India, February 23, 2007 - The massive Rs.8,500 crore infrastructure investment in upgrading the Delhi International Airport is having a salutary effect on on real estate prices in the vicinity. Areas such as Gurgaon and Dwarka have seen a 10%-15% increase in real estate prices.

| Comments (0)

New housing scheme for middle class in Chandigarh | INRnews

Chandigarh, India, February 23, 2007: The Chandigarh Housing Board (CHB) is to launch a new housing scheme with 1,800 houses on offer on 42 acres of land in Sector 63. The project would target middle class buyers and is to be launched within the next six months.

| Comments (1)

Parsvnath Developers to build hotel and commercial complex in Ahmedabad | INRnews

New Delhi, India, February 23, 2007 - Parsvnath Developers Ltd has announced that on February 23, 2007 has conducted the earth breaking ceremony (bhoomi poojan) of its five star hotel and commercial mall project in Vejalpur in Ahmedabad. The Rs 250 crore project will be a land mark complex in the city. The complex is expected to be completed and operational in two and half years.

| Comments (0)

TRIDA flats on sale in Thiruvananthapuram | INRnews

Thiruvananthapuram, India, February 23, 2007 - The Thiruvananthapuram Development Authority (Trida) has put up for sale 52 modern flats in Sanjeevani Apartments at the Medical College junction near the Trida Centre Shopping Complex. The flats will be sold on a "first come, first serve" basis.

| Comments (0)

Cabinet approves Salim Group township and infrastructure venture | INRnews

New Delhi, India, February 23, 2007 - The Union Cabinet has approved Indonesia-based Salim Group's proposal for a $500 million investment in development projects in West Bengal. The company is looking at developing integrated infrastructure including townships, housing, SEZ, and industrial parks.

| Comments (0)

February 22, 2007

Brigade PalmSprings 3-bedroom apartments in JP Nagar, Bangalore launched | INRnews

Bangalore, India, February 22, 2007 - Bangalore based real estate developer Brigade Group has launched a new project, Brigade PalmSprings in J.P. Nagar in Bangalore. The 172-apartment complex is set within a 4-acre campus in J.P. Nagar. Featuring luxury 3-bedroom apartments, with a clubhouse and swimming pool, all located within an aesthetically landscaped environment. Apartment prices start at Rs.61 lakh.

| Comments (0)

Dawnay Day to invest $1.5 bn in Indian realty | INRnews

Mumbai, India, February 22, 2007 - UK-based investment firm Dawnay Day International plan to invest $1.5 billion in Indian realty over the next few years. Areas of interest include residential developments, townships, and warehousing.

| Comments (0)

Ganesh Housing signs MOU with Govt of Gujarat for Rs 2000 crore township development | INRnews

Ahmedabad, India, February 22, 2007 - Real estate developer Ganesh Housing Corporation Ltd has announced that the Company has signed a MOU with the Government of Gujarat for development of SMART CITY-Integrated Township at Village Godhavi & Garodia, Taluka Sanand District Ahmedabad on about 400 acres of land at an investment of Rs 2000 crore.

| Comments (1)

CII Infrastructure regulatory report calls for new architecture | INRnews

New Delhi, India, February 22, 2007 - The Confederation of Indian Industry (CII) today called for evolving a 'new regulatory architecture' for building India's infrastructure. In its meeting with the Deputy Chairman, Planning Commission, Dr. Montek Singh Ahluwalia' CII emphasised that a renewed focus on Infrastructure Regulation would both increase private sector investments in Indian infrastructure, and enable more efficient management of the infrastructure assets.

| Comments (0)

Delhi farmhouses can now be developed into group housing societies | INRnews

New Delhi, India, February 22, 2007 - In what is likely to generate a windfall for farmhouse owners in prime areas around New Delhi, the Delhi Master Plan is to allow re-development of farm houses into group housing societies. Farmhouse prices in prime areas such as Chattarpur, Bijwasan and Najafgarh amongst others are likely to shoot up now with the prospect of luxury high-rise developments a reality.

| Comments (1)

India's largest IT park opened in Kerala | INRnews

Thiruvananthapuram, India, February 22, 2007 - Kerala Chief Minister V S Achuthanandan has opened the Tejaswini building, the newest addition to six other buildings in the IT Park here. With the inauguration of this 8.5 lakh sq.ft facility, the IT Park now offers over 32 lakh sq.ft of commercial space making it amongst the largest in the country.

| Comments (1)

HCL Tech to set up 170 acre campus in Mihan SEZ at Nagpur | INRnews

Mumbai, India, February 22, 2007 - Leading IT company HCL Technologies is to invest Rs.500 crore to set up a 170 acre campus in the Mihan SEZ in Nagpur. The company has signed a MoU with the Maharashtra Government to this effect. The facility is expected to generate employment for 10,000 people within five years.

| Comments (0)

February 21, 2007

Bharti Announces Strategic Roadmap for its Indian Retail Venture | INRnews

New Delhi, India, February 21, 2007 - Bharti Retail (Pvt.) Limited, a wholly owned subsidiary of Bharti Enterprises, today announced the strategic roadmap for its retail operations in India. As part of its plans to provide a world-class retailing experience to consumers across India, the Company has planned an investment of $ US 2 to 2.5 billion by 2015. Bharti Retail plans pan-India operations and is looking at approximately 10 million square feet of retail experience across all cities in India with a population of over one million. The 60,000 people, it plans to employ, will include ex-servicemen and women and provide multi faceted career opportunities for youth of India.

| Comments (2)

Garnet Construction in international tie-up to promote Navi Mumbai township project | INRnews

Mumbai, India, February 21, 2007 - Garnet Construction Ltd has announced that the Company has entered into an exclusive global marketing alliance with the Sternon Group (Dubai-based real estate developers, builders and promoters) to market its residential and commercial projects to prospective buyers around the world.

| Comments (31)

Citigroup Property Investors closes US$1.29 Billion Asia Real Estate Fund | INRnews

Hong Kong, February 21, 2007 - Citigroup Property Investors (CPI) today announced the final close of CPI Capital Partners Asia Pacific, L.P. The $1.29 billion Fund invests in real estate and real estate-related assets throughout the Asia Pacific region, with a primary focus on Greater China and India.

| Comments (0)

Large real estate projects to come up on the outskirts of Vadodara | INRnews

Vadodara, India, February 21, 2007 - The Vadodara Urban Development Authority (VUDA) has signed MoUs worth Rs.3,425 crore with various real estate development companies for projects such as setting up of housing colonies, IT parks, and commercial complexes around Vadodara.

| Comments (3)

February 20, 2007

Pyramid Saimira to develop 100 malls with multiplexes in South India | INRnews

Chennai, February 20, 2007 - Pyramid Saimira Theatre Ltd has announced that the Board of Directors of the Company at its meeting held on February 20, 2007, has approved the Company's plan to be a partner in Special Purpose Vehicle (SPV) to be formed along with developers of realty Companies to establish about 100 malls with multiplexes in South India and about 100 malls with multiplexes in rest of India.

| Comments (1)

Real estate developer Parsvnath signs MoU with Gujarat Government for Rs 1600 crore projects | INRnews

Ahmedabad, India, February 20, 2007 - Indian real estate developer Parsvnath Developers Ltd has announced that the Company has signed a MoU with the Government of Gujarat for developing various projects at an investment of Rs 1600 crores over a period of 2-3 years. The Company will develop townships, group housing, commercial complexes, IT Parks amongst others at Ahmedabad, Bhavnagar, Rajkot, Vadodara, Surat, Jamnagar and other districts of Gujarat.

| Comments (3)

Brigade Jasmine 1-bedroom apartments in JP Nagar, Bangalore on offer | INRnews

Bangalore, February 20, 2007 - Bangalore based real estate developer Brigade Group has launched a new project, Brigade Jasmine, in J.P. Nagar in Bangalore. Brigade Jasmine is a new addition to the large and beautifully laid out Brigade Gardenia enclave in J.P. Nagar. This project introduces an innovative concept in urban living: an apartment block comprising solely of 1-bedroom apartments. Supplemented with well-designed common facilities that are enriching and convenient to its residents.

| Comments (0)

Och-Ziff takes a 25% stake in Nitesh Estates | INRnews

Mumbai, India, February 21, 2007 - Hedge Fund Och-Ziff Capital Management has picked up a 25% stake in Bangalore based real estate developer Nitest Estates for Rs.250 crore.

| Comments (0)

Real estate major DLF to build Dankuni township in West Bengal | INRnews

Kolkata, India, February 20, 2007 - Real estate major DLF has entered into an agreement with the Kolkata Metropolitan Development Authority (KMDA) to build a new township in Dankuni, Hooghly district, West Bengal with an investment of Rs.33,000 crore. This would make the Dankuni township the largest public-private-partnership (PPP) project in the country.

| Comments (1)

February 19, 2007

Parsvnath Developers awarded Noida Group Housing plot | INRnews

New Delhi, India, February 19, 2007 - Parsvnath Developers Ltd has announced that the Company participated in the bids invited by the New Okhla Industrial Development Authority (NOIDA) for allotment of Group Housing Plot No. GHP-001, Sector 116, Noida under Group Housing Scheme, 2007 (2) and upon being successful in bagging the bid, the Company has been issued a letter dated February 14, 2007 conveying acceptance in-principle by the Authority in respect of allotment of the above plot measuring 2,90,000 sq. mtrs. of land (approx. 72 acres).

| Comments (0)

Tata group to set up $1 billion Indian realty and infrastructure fund | INRnews

Mumbai, India, February 19, 2007 - Leading Indian industrial group Tata is to set up a new company Tata Realty & Infrastructure with a corpus of $1 billion to invest in real estate in the country.

| Comments (0)

Delhi to have regulatory authority to monitor construction activities | INRnews

New Delhi, India, February 19, 2007 - Delhi will soon have a statutory regulatory authority to monitor construction activities in the National Capital. Shri S. Jaipal Reddy, Union Urban Development Minister said this while speaking at a symposium on “Delhi: Stepping towards Re-construction” at Delhi Legislative Assembly premises.

| Comments (0)

Parliamentary committee discusses airport infrastructure in South India | INRnews

New Delhi, India, February 19, 2007 - The meeting of the Parliamentary Consultative Committee attached to the Ministry of Civil Aviation met at Cochin in Kerala today. It was chaired by Minister for Civil Aviation, Shri Praful Patel. The meeting focused on discussions on airport infrastructure and air connectivity in Southern India.

| Comments (0)

February 18, 2007

Noida Authority sells 300 acres of residential land for Rs 2,550 crore | INRnews

Noida, India, February 18, 2007 - The Noida Authority has realised Rs. 2,550 crore from the sale of 300 acres of residential land to five builders.

| Comments (0)

February 17, 2007

INOX Leisure opens new multiplex in Jaipur | INRnews

Jaipur, India, February 17, 2007 - INOX Leisure Ltd has announced that the commercial operation of the Company's new Multiplex Theatre situated at Space Cinema Bani Park, Jaipur, has commenced from February 16, 2007.

| Comments (0)

Subhash Projects signs MOU with Gujarat Government | INRnews

Ahmedabad, India, February 17, 2007 - Subhash Projects & Marketing Ltd has announced that the Company has entered into a Memorandum of Understanding (MOU) with the Government of Gujarat to participate in infrastructure projects in the state. The company plans to invest Rs.5,000 crore in the state.

| Comments (0)

February 15, 2007

India Infrastructure Financing Initiative to deploy $5 billion in projects | INRnews

New Delhi, India, February 15, 2007 - Infrastructure Development Finance Company Limited ("IDFC"), Citigroup Inc. ("Citi"), India Infrastructure Finance Company Limited ("IIFCL") and Blackstone Group Holdings L.P. (together with its affiliates, "Blackstone") announced the launch of "The India Infrastructure Financing Initiative", a collaborative effort to deploy approximately US $ 5 billion in capital for infrastructure projects in India. The plan is to deploy about US$ 2 billion in equity capital and US$ 3 billion in long term debt financing with maturities exceeding ten years.

| Comments (0)

February 13, 2007

Revised Street Vendors Act in the Offing to Provide Slum Vendors, Weaker Sections Housing at Affordable Price | INRnews

New Delhi, India, February 13, 2007 - The Ministry of Housing & Urban Poverty Alleviation will shortly come out with a revised Street Vendors Act to ascertain that middle class and slum vendors are provided with low-cost and affordable housing facilities. The Act is already under the consideration of the government and a decision to this effect will be announced soon.

| Comments (0)

Revised Street Vendors Act in the Offing to Provide Slum Vendors, Weaker Sections Housing at Affordable Price

New Delhi, India, February 13, 2007 - The Ministry of Housing & Urban Poverty Alleviation will shortly come out with a revised Street Vendors Act to ascertain that middle class and slum vendors are provided with low-cost and affordable housing facilities. The Act is already under the consideration of the government and a decision to this effect will be announced soon.

| Comments (1)

February 09, 2007

National Conclave to be held on Realty & Infrastructure Opportunities in 60 Indian cities | INRnews

New Delhi, India, February 09, 2007 - ASSOCHAM with the support of Ministry of Urban Development is organizing a National Conclave on the theme “60 Indian Cities : In Depth View of Realty & Infrastructure Opportunities” on 13 & 14th February, 2007 in New Delhi.

| Comments (0)

Utilise Railways Wasted Land For Real Estate: ASSOCHAM | INRnews

New Delhi, India, February 09, 2007 - The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has prescribed a multi pronged strategy, comprising evolution of PPP model, to suitably commercialise about 45,000 hectare of wasted land in its possession for real estate development, undertake its modernisation drive through enhanced safety measure in place and double its short distance fares from 25 paise per KM to 50 paise per KM to make Indian railways as one of the world class institutions.

| Comments (0)

Kolkata Poised for High Cross-Sector Growth in Office, Retail, Hospitality and Residential | INRnews

Kolkata, India, February 09, 2007 - Kolkata’s real estate market is set for a high growth phase fuelled by the IT/ITES sector. This is according to the report, “Emerging City Winners Profiles: Kolkata”, released today by Jones Lang LaSalle, one of the world’s leading real estate services firm. An increasing corporate presence in the city is also triggering growth for Retail, Hospitality and Residential properties.

| Comments (0)

February 08, 2007

Central Government notifies Delhi Master Plan 2021 | INRnews

New Delhi, India, February 08, 2007 - The Central Government has notified the Master Plan for 2021 on 7th February 2007, in exercise of powers under the Delhi Development Act, 1957. The notification of the MPD 2021 marks the culmination of a detailed and extensive exercise carried out over the past three years to modify the Master Plan to meet the challenges of fast evolving changes in the urban scenario in the National Capital Territory of Delhi. INRnews provides details of major policy initiatives in this article.

| Comments (26)

Regularisation of 1,500 unauthorised colonies in Delhi | INRnews

New Delhi, India, February 08, 2007 - The Union Cabinet today approved the guidelines for regularization of unauthorized colonies in Delhi. About 1500 colonies have come up in an unauthorized manner over the past three decades in Delhi on both Government as well as private agricultural land, due to the high rate of in-migration into the National Capital Territory of Delhi and the huge increase in the demand for housing outpacing the supply of planned housing stock.

| Comments (79)

Mantri Developers to expand into Hyderabad real estate | INRnews

Hyderabad, India, February 08, 2007 - Leading Bangalore baased real estate developer Mantri Developers is working on two projects in Hyderabad including a residential cum commercial complex in Madhapur and another 900-unit residential project in Madhapur.

| Comments (0)

Boat Club property in Chennai sold for Rs 72 crore per acre | INRnews

Chennai, India, February 08, 2007 - A 2.4 acre residential property in Chennai's posh Boat Club area was auctioned for Rs.175 crore on Wednesday. The buyer, a "high net worth individual", secured the property with a record bid of a little over Rs.72 crore per acre, or Rs.4 crore per ground (2,400 sq.ft).

| Comments (0)

ICICI Bank increases home loan interest rates, PSU Banks don't | INRnews

Mumbai, India, February 08, 2007 - Leading private sector bank ICICI Bank has announced a rate increase of 1% for its floating home loan customers. It remains to be seen if other private sector banks follow suit or use this opportunity to gain share from ICICI Bank. Meanwhile, the Indian Finance Minister has exhorted public sector banks to keep home loan interest rates unchanged. After ICICI's increase, home loans rates of PSU banks are around 1-1.5% cheaper.

| Comments (0)

Breaking News - New Master Plan for Delhi 2021 notified | INRnews

New Delhi, India, February 08, 2007 - INRnews reports that the Urban Development Minister Mr. Jaipal Reddy has signed the much awaited new Master Plan for Delhi-2021. Significant policy changes include providing for greater height and floor ratio norms as well as wide relief from sealing and demolition through mixed land use norms that allows for commercial activities on 2,283 roads.

| Comments (0)

February 07, 2007

75% CEO'S Want DDA To Be Low Cost Housing Developers | INRnews

New Delhi, India, February 07, 2007 - 75% of Delhi based CEO's & MD's belonging to large, middle and small corporate houses interviewed under ASSOCHAM Business Barometer (ABB) survey on "Future Role Of DDA" have unanimously favoured  that role of the Delhi Development Authority (DDA) be strictly restricted to developer of low cost  housing only and that its other functions of strategic planning and housing  estate development should be striped off in view of emerging real estate competition in and around Delhi.

| Comments (0)

February 06, 2007

Gurgaon hotel site fetches Rs.51 crore per acre in auction | INRnews

Gurgaon, India, February 06, 2007 - According to news reports, the Haryana Urban Development Authority (HUDA) has auctioned a five acre plot for a hotel site in Sector 47 Gurgaon at a price of Rs.255.20 crore. The reserve price for this site was pegged at Rs.163.9 crore.

| Comments (0)

Mahipalpur and Udyog Vihar crossing flyovers on Delhi - Gurgaon highway opened to traffic | INRnews

New Delhi, India, February 06, 2007 - In ongoing efforts to provide comfort to commuters between Delhi and Gurgaon, Thiru T. R. Baalu, Union Minister of Shipping, Road Transport and Highways, Smt Sheila Dikshit, Chief Minister, Delhi and Sh. B. S. Hooda, Chief Minister, Haryana today ceremonially opened to traffic the flyovers at Mahipalpur in Delhi and Udyog Vihar Crossing of NH-8 in Gurgaon, Haryana. The Minister of State in the Ministry of Shipping, Road Transport & Highways, Shri K.H. Muniyappa was also present on the occasion.

| Comments (0)

Finance Minister asks banks to hold home loan interest rates | INRnews

New Delhi, India, February 06, 2007 - Indian Finance Minister P Chidambaram has asked all public sector banks to hold interest rates on home loans at the current levels. He also said that this has been agreed to by all banks.

| Comments (1)

Rs 3500 crore Satellite Township to come up at Tellapur near Hyderabad | INRnews

Hyderabad, February 6, 2007 - The Hyderabad Urban Development Authority (HUDA) has awarded a Rs.3,500 crore Satellite Township project at Tellapur near Hyderabad to a consortium comprising Nagarjuna Construction, ICICI Venture Funds and Tishman Speyer Properties.

| Comments (0)

Major real estate developers bid for 106 acre Bangalore biotech park project | INRnews

Bangalore, India, February 6, 2007 - The Karnataka government has succeeded in attracting interest from many large real estate developers for the 106 acre, Rs.350 crore biotech park project in Bangalore. The proposed "Helix" park located in Electronics City Phase 3 on the Hosur Road aims to attract biotech companies, including startups, by providing infrastructure such as office space and educational and research facilities within the vicinity.

| Comments (1)

February 05, 2007

Country Club to launch service apartments with Rs 500 crore investment | INRnews

Mumbai, February 5, 2007 - Country Club India plans to launch service apartments across the country with an investment of Rs.500 crore. The service apartments, branded "The Nest" will be launched in high-traffic locations and also co-locate with Country Club's 125 existing sites.

| Comments (1)

Real estate developer Parsvnath to invest Rs 15,000 crore by 2011 | INRnews

New Delhi, India, February 5, 2007 - Enthused by the success of its Initial Public Offer, realty majot Parsvnath Developers Ltd plans to invest a massive Rs 15,000 crore over the next four years to develop 122 million sq ft. of property

| Comments (0)

DRS Logistics to build 4 million sq ft of warehouse space | INRnews

Hyderabad, India, February 05, 2007 - Hyderabad based DRS Logistics plans to construct warehouse space of 4 millions sq.ft by 2010 to meet the increasing third party logistics needs of companies like Lifestyle, Bridgestone, Hyundai and other retail enterprises.

| Comments (0)

February 04, 2007

Claridges Hotels to invest Rs 2300 crore for expansion | INRNews

New Delhi, India, February 04, 2007 - Claridges Hotels is to set up new five-star hotels in Bangalore, Chennai, Hyderabad, Pune and Goa at a cost of Rs.2,300 crore.

| Comments (1)

February 03, 2007

SVP Group to develop Rs 160 crore Ghaziabad mall | INRnews

New Delhi, India, February 3, 2007 - Real estate developer the SVP Group is to develop a 200,000 sq.ft mall in Ghaziabad in the National Capital Region at an investment of Rs.160 crore.

| Comments (1)

February 02, 2007

Choice Hotels to launch hotels in Andhra Pradesh | INRnews

Hyderabad, India, February 02, 2007 - Choice Hotels International, the worldwide franchisor of Cambria Suites, Comfort Inn®, Comfort Suites®, Quality®, Sleep Inn®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge®, and Rodeway Inn® brand hotels is looking to enter the Andhra Pradesh market with hotels in Hyderabad, Tirupati and Vishakhapatnam.

| Comments (3)

RBI raises provisioning requirement for the real estate sector to 2% | INRnews

Mumbai, India, February 02, 2007 - The third quarter review of annual statement on Monetary Policy for 2006-07 was a prudent attempt at reining in inflation and speculation while continuing to encourage the upbeat mood of the economy.

| Comments (0)

February 01, 2007

Organised Retail Business will require Over 220 Mn. Sq. Ft. Space by 2010 | INRnews

New Delhi, India, February, 1 2007 - In a Paper brought out by ASSOCHAM on `Retail Scenario in India and Its Related  Issues’, it has been stated that approx. 40 million sq. ft. is currently generating a business of about US$ 4 billion in organised retail.

| Comments (0)

January 31, 2007

Private equity firm Actis to set up $300 m India real estate fund | INRnews

New Delhi, India, January 31, 2007, - UK-based private equity firm Actis plans to set up a $300 million India real estate fund, on top of two other existing funds with an estimated equity of $475 million. The firm is already in talks with real estate players for making these investments according to Donald Peck, Managing Partner of Actis.

| Comments (0)

MoU signed for $25 bln real estate development project in Andhra Pradesh | INRnews

Hyderabad, January 31, 2007 - A consortium comprising of real estate developers Jurong International from Singapore and Springfield Land of Australia has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop an integrated science city on 65,000 acres of land between Odicheruvu and Ammadiguda in Anantpur district of Andhra Pradesh. The location is just 200km from Bangalore and 400km from Hyderabad.

| Comments (0)

Marriott International plans three hotels with 833 new rooms in Pune, India | INRnews

Washington, DC, January 31 2007 -  Marriott International, Inc. (NYSE: MAR) will manage three hotels representing 833 new luxury, deluxe and upper-moderate quality guest rooms in Pune, India which are scheduled to open over the next three years.

| Comments (1)

Sobha Developers awarded mall and hotel construction project in Panchkula, Haryana | INRnews

Bangalore, India, January, 31 2007 - Sobha Developers Ltd has announced that the Company has received a Letter of Intent (LOI) from Continental Devices India Ltd (CONTEL) to construct its "Bella Vista" Shopping Mall & Hotel Project in Panchkula, Haryana.

| Comments (0)

Nagarjuna Construction consortium wins Rs 1200 crore port project in Andhra Pradesh | INRnews

Hyderabad, India, January, 31 2007 - Nagarjuna Construction Company Ltd has announced that a consortium comprising of the Company, Maytas Infra. Pvt Ltd., and SREI Infrastructure Finance Ltd has been awarded a project relating to development and operation of an all weather deep water port at Machilipataam, Andhra Pradesh to be developed on BOOT basis valued at Rs 1200 crores. The Board of Directors has also approved raising US$180 million in funding to drive its expansion plans.

| Comments (0)