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  • Unitech building 80 projects; focuses on improving execution

    New Delhi, The Financial Chronicle

    July 31, 2011

    Realty major Unitech Ltd is currently developing about 80 projects across the country covering 40 million sq ft of area and focusing on improving its execution capabilities, a top company official has said. "Going forward, the quality of execution will determine whether Unitech will move to the next level or not. And, this is where most of the company's attention is now centred," the company's chairman Ramesh Chandra told shareholders in the annual report of the last fiscal.

  • FDI in Multi-brand Retail to Bring Back Mall Mania

    Ratna Bhushan & Ravi Teja Sharma, New Delhi, The Economic Times

    July 28, 2011

    The move forward on the issue of allowing foreign direct investment (FDI) in multi-brand retail is a piece of good news for the real estate sector amid all the gloom. Most real estate players have either shelved or slowed down their plans to build malls and shopping complexes over the past few years as growth in the sector has stagnated. Now with the Committee of Secretaries giving an in-principle nod to the proposal of allowing 51% FDI in multibrand retail, those plans are expected to be revived.

  • Marriott, Hyatt, Starwood and Oberoi see room for growth along Noida Expressway

    Meenakshi Verma Ambwani, New Delhi, The Economic Times

    July 25, 2011

    The next big battle among hospitality players is expected to shift to the Noida-Greater Noida Expressway. Current trouble over land acquisition in the area notwithstanding, the 25-km stretch could be the next hotspot for tourism, conventions, glitterati events, nightlife and shopping as several big hotel groups such as Marriott, Hyatt, Starwood and Oberoi, are firming up their plans already. Analysts expect more than a dozen five-star hotels, with an estimated inventory of around 2,500 rooms to come up in the area, making it the biggest hotel hub anywhere in the country.

  • Tatas to launch Rs 32,000 houses for rural market

    Hyderabad, The Economic Times

    July 15, 2011

    After it's Rs 1-lakh wonder car 'Nano', Tata Group is all set to launch a house for nearly Rs 32,000 aimed at rural market by the end of next year.

  • PEs switch focus to rental assets in commercial space

    Ravi Teja Sharma, New Delhi, The Economic Times

    July 12, 2011

    Occupied commercial buildings are the new favourites for private equity investors in the real estate sector. In a property market where developers are trying to manage cash flows to reduce debt and fund development projects, dedicated rental yield funds like IL&FS Milestone Fund and JM Financial Real Estate Income Fund have bought into such assets, while a few new funds are being raised to focus on this segment. While the residential real estate market has seen sales slowing down, the commercial office market has been healthy, with many Indian corporates in the IT/ITes, BFSI, pharmaceutical sectors looking to expand.

  • From tepid 2008, Chennai's property market turns red hot

    Vidya Bala, The Hindu Business Line

    July 10, 2011

    If you had the patience and the means to buy residential property during the downturn of late 2008, especially in Chennai - congratulations! Your property value may well have doubled by now, if the National Housing Bank's property price index ‘NHB Residex' is a fair indicator. Among the 15 cities tracked by the NHB Residex, the Chennai index has seen the maximum gains, from 95 to 218, yielding a whopping 130 percent over this two-year-plus period. Property prices in the Chennai residential market have rebounded the most from their lows of December 2008 (until March 2011, the latest available month for which data are available.)