Published by Newsroom December 29th, 2007
in Newsbytes.
The concept of 'walk to work' coupled with mass housing requirements and the demand emanating from SEZ development are factors that have led to the emergence of integrated townships.
These townships are being touted as the new paradigm of real estate development in India that will help satisfy the growing affluence and aspirations of India's urban population. Though in a nascent stage, these self-contained townships encompassing residential, retail and commercial infrastructure within a single geographical entity will soon spread across the country.
Published by Newsroom December 29th, 2007
in Newsbytes.
Lok Housing & Constructions plans to launch around eight projects in
Mumbai, Navi
Mumbai,
Pune and
Bangalore in the next six months, Lalit Gandhi, chairman and managing director, told NewsWirel8 today.
"The proposed projects will cover 42-50 million sq ft saleable area, and 60 per cent of this will be residential development," Gandhi said. The proposed development is likely to fetch revenues of Rs 22,000-25,000 crore by completion in the next five to seven years, he said. Reacting to the news, shares of Lok Housing & Constructions today rose 3 per cent from previous close to Rs 349.10 on Bombay Stock Exchange. The stock closed at Rs 333.20 down 1.17 per cent from its previous close.
Published by Newsroom December 29th, 2007
in Newsbytes.
Bangalore: Buy a house and get a car free. That's the latest marketing strategy some
Bangalore's realty players are adopting. Or is it an innovative advertising gimmick?
Each flat of a high-end 20-apartment property in RMV layout priced at Rs 2 crore is being sold along a free car worth Rs 10 lakh. What's more, even a referral person gets a Hyndai Santro.
On Kanakpura Road there is a mid-budget developer who's offering a free Maruti small car to buyers. "Most of the cars being offered for free are bought at a 10% discount by developers. The vehicles are either excess stock that car dealers are not able to dispose of or are old models, which have no competitive advantage against the latest models," says a source.
Published by Newsroom December 29th, 2007
in Newsbytes.
Unitech, one of India's largest real estate developer, is making an aggressive entry into the booming realty market in south. It is on the verge of announcing two joint development deals, involving over 1,400 acres of prime land in
Hyderabad and
Chennai.
Unitech is set to shortly unveil its 50:50 joint venture deal with serial entrepreneur Prasad V Potluri's PVP Enterprises which owns around 1,300 acres in
Hyderabad's Shamshadabad region, the most happening part of the city in terms of property development. Unitech will also unveil, over the next few days, a 55:45 joint venture deal for developing 8.8 million sq ft of residential property on the 70-acre Binny land near Perambur in north
Chennai, owned by SSI, sources privy to the development told ET.
Published by Newsroom December 29th, 2007
in Newsbytes.
Langham Hotels International, the operating and asset management arm of Hong Kong-based Great Eagle Holdings, has identified India as a strong market for development. Helmut Knipp, its senior VP (development) reveals, "Our focus has been on China of late. But India is as large and showing similar growth. The opportunity cannot be missed and we wish to take measured steps to establish the brand in India."
According to the company, there is a strong interest to build the brands in
Delhi NCR,
Mumbai,
Hyderabad,
Bangalore,
Chennai, Ahmedabad, Kochi and Goa. Knipp adds, “While on a trip to Pondicherry, I realised that the place is an ideal destination for our wish list - an undiscovered gem.�
