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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.
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).
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).
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.
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.
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.
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.
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.
Ludhiana, India, March 18, 2007 - Ludhiana, known for its hosiery and sports goods industries, is the most populated city of Punjab. Excellent connectivity with major cities and a favourable business environment has made the city a preferred investment destination of the state. Though Ludhiana has witnessed considerable real estate growth in the past few years, most of the developments have been unplanned and have resulted in extending the city boundaries according to leading global property consultancy firm Knight Frank.
Chandigarh, India, March 18, 2007 - Chandigarh is the first planned city of India and is the capital of the two states of Punjab and Haryana. According to leading global property consultancy firm Knight Frank, the Chandigarh real estate market has witnessed unprecedented growth over the last few quarters.
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.
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.
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.
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.
New Delhi, January 17, 2007 - The Delhi Development Authority has auctioned eight commercial plots in Vikaspuri, Dwarka and Rohini for Rs.986 crore. At a price of around Rs.20,000 per sq.ft, this would rank amongst the most expensive commercial land deals in the country. The buyer - Reliance Industries and subsidiary companies - is likely to use this for its Reliance Retail venture.
Mumbai, January 11, 2007 - Leading real estate developer Sobha Developers Ltd has announced that on January 11, 2007 the Company has received a Letter of Indent (LOI) dated January 05, 2007 from BF Utilities Ltd (Kalyani Group Company) to construct its Employee Care Centre in Mundwa, Pune.
Mumbai, December 26, 2006 - Leading real estate developer Sobha Developers Ltd has announced that the Company has received a Letter of Indent (LOI) from DELL India Pvt Ltd to construct its Manufacturing Plant in Sriperumbudur, Chennai.
Mumbai, December 12, 2006 - BSEL Infrastructure Realty FZE, UAE, a wholly owned subsidiary of BSEL Infrastructure Realty Limited has brought investment from Gulf Based NRIs to the tune of USD 25 Million for BSEL Infrastructure Realty Limited.
Bangalore, November 21, 2006 : New research issued by global real estate adviser DTZ has revealed that India is becoming one of the world's key emerging real estate markets.
Mumbai, November 17, 2006 : Mumbai's commercial real estate market has appreciated considerably over the last one year. Rents in South Mumbai (CBD) for Prime and Grade A office space are up by 73% while capital values are up by 51% vs. 12 months ago. In the suburban Bandra Kurla complex, rentals are up by 132% and capital values are up by 115% over a year.
Hyderabad, November 15, 2006 - If India's much anticipated retail revolution has a start date, it could well be the first week of November 2006. On November 3, in a classic RIL move marked by scale and ambition, Reliance Retail launched 11 Reliance Fresh retail outlets simultaneously in the southern Indian city of Hyderabad, firing the first salvo in what will be a keenly contested battle to win a huge prize - nothing less than the wallets of Indian consumers!
Mumbai, October 5, 2006: So high is the demand for office space in the Bandra Kurla complex that new tenants are paying almost 100% more in rentals now than the prices prevailing a year ago. Space in Bandra Kurla rents for Rs.250 per sq.ft and this could touch as high as Rs.300 per sq.ft soon.
Mumbai, September 23, 2006: Real estate developer Niranjan Hiranandani is to develop the space below the 1.5-km Andheri flyover in Mumbai. On the cards is a 90,000 sq.ft. commercial development comprising retail showrooms and office spaces. The ground plus one structure beneath the flyover can accommodate a 500 unit car-park.
The commercial space is to be designed by renowned architect Hafeez Contractor.
New Delhi, September 22, 2006: Delhi Metro has found profitable use for its property and has significantly gained financially from leasing its property in the capital. Accounts of the last financial year reveals that Delhi Metro earned over Rs.296 crores from leasing of property while its earnings from Metro rail traffic has been Rs.113 crores.
Mumbai, September 15, 2006 : Foreign Investment in Indian real estate remains controlled, but the opportunities are immense according to B.Srinivas, National Manager, Capital Markets Group, Cushman & Wakefield India.
Mumbai based real estate developer K.Raheja is to expand its projects in Hyderabad. On the anvil is an expansion of the Mindspace IT Park at a cost of Rs. 400 crore, development of the 7 million sq.ft. of office cum residential space Pocharam Park, and the development of a 350,000 sq.ft. mall in Hyderabad within 3 years.
According to property services firm DTZ Debenham Tie Leung, 7 million sq.ft. of office space was absorbed in Bangalore up to July 2006. Current rate of absorption of office space in Bangalore is 1 million sq.ft. per month, almost 60% of which is driven by the IT/ITES sector.
Delhi NCR experiences highest office space absorption in its history during the first seven months of 2006. Absorption crosses 5.1 million sq ft.
In a study conducted by leading global property adviser DTZ Debenham Tie Leung, Delhi NCR has in this year recorded the highest ever commercial Grade – A space absorption in a year of 5.1 million sq ft. Commercial space absorption increased by 42% in just the first seven months of the year as compared to the absorption of 3.5 million sq ft in entire 2005. “The office market has primarily bee