Main || Delhi & NCR
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.
New Delhi, India, August 25, 2007 - ITD Cementation India Ltd in joint venture with its promoter, Italian-Thai Development Public Co. Ltd, Thailand has been awarded Letter of Acceptance for a Rs.893 Crore contract from Delhi Metro Rail Corporation.
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).
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.
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.
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.
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.
New Delhi, India, March 16, 2007 - GMR Infrastructure Ltd hasannounced that Delhi International Airport (P) Ltd (DIAL), a subsidiary of the Company, in an effort to enhance passenger comfort and to ensure more efficient aircraft operations, Delhi International Airport Pvt Ltd (DIAL) is carrying out work involving two new taxiways U and V. This will facilitate faster runway clearance from Runway 10 side towards the international terminal. The Runway occupancy time will be reduced with increase in its capacity. Since, the holding time for aircraft awaiting clearance to land at Delhi Airport would reduce further; the passengers and airlines will be benefited.
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 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.
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.
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).
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.
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 14, 2007 - Emaar MGF Land Private Limited, a joint venture between Dubai based real estate giant Emaar Properties PJSC Dubai and Indian real estate developer MGF Development Limited, plans to raise over $2.9 billion in one of the largest real estate IPOs in India according to news reports.
New Delhi, January 03, 2006 - The Delhi Development Authority (DDA) has announced results of the DDA Housing Scheme 2006. DDA flats of different types have been allotted in areas such as Dwarka, Rohini, Motia Khan, Jahangir Puri, Bindapur, Narela, Shalimar Bagh, Kalyan Vihar, and East of Loni Road.
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!
Bangalore, October 19, 2006 : A new phrase - "Presidential Apartment" - is fast entering the lexicon of real estate developers and the newly rich in India. Presidential Apartments are super-premium apartments in exclusive neighbourhoods, with oodles of space, the most luxurious of interiors, named architects, private lifts, landscaped gardens, and every facility that could be required such as a gym, swimming pool, security and CCTV, children's play areas.
New Delhi, October 10, 2006: The Master Plan for Delhi, to be announced by December 2006 will have provisions to permit putting up of dwelling units on 27,000 hectare agricultural land that Delhi has in its possession and also provide for easier and relaxed floor area ratio norms for city’s vertical development with necessary no objection certificate from water and power authorities.
These observations were made by the State Minister for Urban Development Mr Ajay Maken while releasing a report "ASSOCHAM Study on Housing For All".
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.
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 been driven by the IT/ITES sector which accounts for about 75% of the total office absorption in NCR” says Ankur Srivastava, Managing Director, DTZ Debenham Tie Leung India.
IVRCL hopes to execute real estate projects across the country,including townships, residential estates, golf courses, shopping malls and hotels, in the next four years. The estimated cost - Rs.6000 crores.
Company plans to open chain of retail stores in other metros in India
Classic Diamonds India Ltd has announced the soft launch of the company's Retail Store in Delhi, after receiving a overwhelming response for its store, the Gold Souk, in Gurgaon. It is opening its next retail store in Ludhiana soon and is also evaluating the launch of further retail stores across metros in India. With this initiative, the Company aims to cater to the needs of consumers of diamond studded jewellery, primarily focusing in the north of India.
The Delhi Development Authority will auction ten hotel sites on September 25, 2006. Going by the reserve prices, the DDA will stand to make around Rs.2,699 crores at the very least.
2.8 million sq.ft of group housing is planned for construction in sector 119 and 121 by IVRCL Infrastructures and Projects. Built by its subsidiary, IVR Prime Urban Developers, the 43-acre project will begin in December this year. Funds will be garnered from booking advances in the last quarter of the current financial year. IVR PUDL is currently engaged in the construction of a mall and IT park of 2.2 million sq.ft at Gachibowli in Hyderabad.
299 square metre plot in Dwarka sold for Rs 5.26 crore.
The Delhi Development Authority (DDA) has raised over Rs. 188 crore from an auction of 61 plots earlier this week. Prices bid at the auction were substantially higher than the reserve price indicating a firming up of property prices.
HCL Technologies has got approval to set up three special economic zones (SEZ) in India in the cities of Noida, Bangalore and Chennai. The company plans to invest Rs. 500 crore to set up the SEZs.
The Public Works Department (PWD) is planning to set up seven elevated corridors in Delhi to ease congestion on the Ring Road. All the corridors put together are expected to have a length of almost 85 km.
India's capital, New Delhi, will see a boom in infrastructure investment leading up to the Commonwealth games in 2010. According to A.K. Walia, the Delhi Urban Development and Finance Minister, Rs. 26,808 crore ($5.75 Billion) will be spent on infrastructure including 25 flyovers, overbridges, tunnels, parking lots, rail transit system and housing facilities.
Real estate major Unitech is set to announce India's largest real estate deal at a sticker price of well above Rs. 2,000 crore. The land deal is said to surpass earlier mega deals including Unitech's Rs. 1,568 crore Noida Expressway deal, Reliance Industries Rs, 1,100 crore Bandra-Kurla deal and DLFs Rs. 702 crore deal for NTC mill land.
The Delhi State Industrial Development Corporation (DSIDC) is developing a special economic zone (SEZ) focused on the gem and jewellery business on 150 acres of land in Baprola, North West Delhi. The SEZ is expected to come up in three years and will require an investment of Rs. 300-400 crore. The SEZ would include a gem testing lab, assaying and hallmarking centre, marketing space for designers and a business centers.
See other SEZ Related News on INRnews.com
Minister of State for Urban Development, Ajay Maken, has told the Lok Sabha that DDA is to allot 1,700 MIG flats, and 632 LIG flats by January 2007. The system of allotment of flats by draw of lots would continue, Maken added.
Real Estate prices in India have been on a tear in the last one year. According to Knight Frank India, prices for A Grade properties have increased significantly. In Mumbai residential rates have moved up from Rs. 17,000 to Rs. 30,000 a sq. ft., while for commercial property the rates have gone up from Rs. 11,000 to Rs.29,000. Delhi has seen residential prices move up from Rs. 10,000 to Rs. 25,000 a sq. ft. and commercial property go from Rs. 8,500 to Rs. 16,000. Chennai has moved up from Rs. 3,500 to Rs. 3,600 for residential property and Rs. 4,000 to Rs. 4,500 for Commercial Property while Bangalore residential property has moved up from Rs. 4,000 to Rs. 4,800 a sq. ft. while commercial property has moved up from Rs. 3,500 to Rs. 6,000 a sq. ft.
In a recent interview, Rajiv Singh, vice-chairman of DLF Universal, which is proposing a gigantic IPO of over Rs 10,000 crore towards the end of June maintains that his company is fortified against a possible real estate bubble-burst.DLF's large-scale business diversification plans and the bank of land assets it has build over the years would anchor it on protected territory. Here is how DLF plans to stay on top.
The domestic real estate sector is projected to grow at a CAGR of 30 per cent to touch $50 billion in size by 2008 according to FICCI, the Federation of Indian Chambers of Commerce and Industry. This phenomenon is fuelled by a projected rise in demand from the technology sector, talent movement and favourable government policies. Property developers across the country are busier and getting richer faster than ever before. One of the biggies to watch and invest in may be the New Delhi-based Ansal Group.
Parsvanath Developers is to hit the capital market with its Rs. 1,600 crore IPO. Shares are likely to be priced at Rs. 480. The company plans to dilute approximately 25% of its paid-up capital by issuing 3.3 crore fresh shares to the public.
The company is a leading developer with projects in Delhi, Noida and Gurgaon. The company has bought land auctioned by Delhi Metro Projects. It plans to use the IPO proceeds for real estate projects in various parts of the country.
Analysts expect that real estate issues will be over subscribed given the large interest in this sector. Foreign institutional investors will be able to invest in this issue after ruls governing investment in real investment were modified.
A Commonwealth Games Village will come up over 60 hectares of land, adjoining Akshardham Temple and is likely to cost nearly 1,100 crore. Envisaged as a public-private partnership model over half the funding is expected to come from 6-8 hotel sites that DDA will sell in the village. Private players in the hospitality sectors will be invited to participate in the tendering process.
DDA is expected to raise over Rs. 2,000 crores from land disposal this financial year. As many as nine hotel plots are slotted for auction in June. In addition to land acquisition, the funds are being utilised to develop the mega sub-cities of Rohini, Dwarka, and Narela.
The Ind-Swift Group, a leading pharmaceutical company in India, plans to plans to enter the real estate development market in Gurgaon and Navi Mumbai via Ind-Swift Infrastructure and Developers (ISID) a newly floated company.
The group's maiden venture is the Regalia Towers apartment complex on the Zirakpur-Kalka highway. The project would comprise 28 penthouses, 184 two and three bedroom flats spread over 3.65 acres of land. Investment for this project is expected to be Rs. 50 crores. Construction of the apartment complex is expected to be complete by August 2007.
A new proposal recommends that DDA auction all its HIG and MIG flats from now on. These two and three bedroom apartments are currently priced lower than other market alternatives. The move is probably aimed at closing the difference in the price of new flats from DDA and the substantially higher resale prices for the same flats. Once these new flats are sold through an auction, prices could rise substantially, perhaps to even double.
The proposal is now in front of the Urban Development ministry according to reports.
New Delhi, April 18, 2006 : The Union Cabinet today gave its approval to proposals to modify the existing scheme of Conversion of Leasehold system of land tenure in Delhi into Freehold.
KP Singh presides over closely held DLF Group, India's largest real estate developer with an estimated land bank of 3,000 acres in prime city locations. Singh, who owns 99.5% of parent DLF Universal with his family, is said to be worth at least $5 billion.