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March 31, 2008

Roca opens 50th brand store in India in Chennai | INRnews

Chennai, India, March 31, 2008 - Roca, the world leader in sanitary ware, today launched its 50th showroom in Chennai to mark a year of the company’s entry into India. The new store was inaugurated by Mr. Arun Alagappan, Director, Parryware Roca Private Limited. The exquisite-range of Roca products for bathrooms can now be acquired at the new showroom, Presencia located at Lloyds Road, Gopalapuram, Chennai. 

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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.

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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.

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January 21, 2008

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.

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$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.

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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.

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January 15, 2008

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.

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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.

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January 03, 2008

Godrej looking to develop factory land | INRnews

Mumbai, India, January 03, 2007 - The Godrej Group, a leading industrial group in India, is looking at real estate development of some of its factory properties.

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January 01, 2008

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.

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December 28, 2007

Parryware Bags India's largest order with Prestige Group | INRnews

Chennai, India, December 28, 2007 - Parryware Roca Private Limited, the No. 1 bathroom solutions provider in India along with Prestige Group, Bangalore’s leading real estate developer have reaffirmed their commitment in transforming Bangalore skylines by providing contemporary bathrooms in all the upcoming projects of Prestige Group across the city. Parryware has signed a deal worth Rs 15 crores with the Prestige Group. Over 15,000 bathrooms in the Prestige Group landmark projects like Shantiniketan, Wellington Park and Kensington Gardens will have Parryware products.

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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.

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December 18, 2007

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.

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December 15, 2007

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.

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December 13, 2007

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.

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December 12, 2007

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.

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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.

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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

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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.

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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.

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November 19, 2007

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.

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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.

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November 13, 2007

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.

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November 12, 2007

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.

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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.

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November 05, 2007

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.

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November 01, 2007

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.

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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.

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September 23, 2007

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.

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September 18, 2007

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.

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September 17, 2007

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.

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