Godrej Properties to raise Rs 700 crore via rights issue

NEW DELHI: Realty firm Godrej PropertiesBSE 0.11 % today said it will raise up to Rs 700 crore by issuing 2.15 crore shares to existing shareholders through rights issue Rs 325 apiece, a discount of about 30 per cent.

The company would issue 8 shares for every 29 shares held by shareholders as on the record date, which is August 20.

The issue price has been fixed at Rs 325 per share, which is almost 30 per cent less than the current market rate.

Shares of Godrej Properties, part of Godrej Group, were trading at Rs 456.05 per share in the afternoon trade.

"The company proposes to issue 2,15,38,388 shares on a rights basis to its existing shareholders as on the record date aggregating to Rs 699.99 crore," the company said in a filing to the BSE.

Promoters had 74.98 per cent stake in the company as on June 30. Mumbai-based Godrej Properties plans to launch the rights issue this fiscal.

This will be the third major fund-raising exercise by the Godrej Properties. The company had launched its initial public offer in December 2009 to raise Rs 468 crore. It had also raised Rs 470 crore last year through Institutional Placement Programme.

In the draft prospectus filed with market regulator Sebi for the proposed rights issue, Godrej Properties said it would utilise Rs 525 crore from the net proceeds towards retiring debt, which currently stands at about Rs 1,600 crore.

"We believe that such repayment/pre-payment will help reduce our outstanding indebtedness and our debt-equity ratio," the company said in the draft document.

In early May, the company's board had approved the rights issue aggregating up to Rs 700 crore.

Godrej Properties is developing residential, commercial and township projects covering about 85 million sq ft in 12 cities. It has recently reported more than two-fold jump in its consolidated net profit at Rs 39.47 crore in the first quarter of this fiscal against Rs 17.15 crore in the year ago period.

source:- http://economictimes.indiatimes.com/markets/ipos/fpos/rights-issues/godrej-properties-to-raise-rs-700-crore-via-rights-issue/articleshow/21678422.cms

Godrej Properties

Gurgaon's residential property update for investors

Over the last one year, capital values rose by more than 30-35 percent in Gurgaon's residential sector. Developers are going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in prime markets. Emerging residential areas are still not able to meet the huge housing demand.
Two key reasons for increasing rental and capital values for residential properties in gurgaon are:

1. Because of rampant construction delays, the expected supply of residential properties announced in early 2009 has not been able to reach the market. Around 500,000 units that were scheduled for possession in key markets by end of 2011 are delayed by another year

2. There has been an increase in lateral hiring by corporates. With job scenario improving all over the country, people have more to spend. This has resulted in good investment opportunities, and investor sentiments in the affordable and mid-income segment of Gurgaon's residential market have improved.

HOT LOCATIONS

Residential property prices on the southern peripheral road connecting to National Highway 8 have seen considerable appreciation over the past few months. This location holds great investment potential thanks to enhanced connectivity that NH8 provides to Manesar and Dwarka. As prices soar in upcoming locations of Gurgaon such as Golf Course Extension, Sectors 70 and Sector 78, buyers have been looking at these alternate locations.

THE DOWNSIDE

Not all residential projects rank equally from an ROI perspective. Whatever appreciation in capital values Gurgaon residential properties have seen does not seem as significant when seen in the light of factors like the higher interest rates on home loans. Nominal capital appreciation of a property may be as high as 25-30 percent, but the actual ROI after making adjustments for inflation and higher interest rates can be nil. There is a 75 percent chance of investing in a property that will not give investor any gains.

Gurgaon is expected to see a residential property supply explosion. There are 55,000 ready flats today. We expect to have around 6000 ready flats by end of 2012, with an additional 65,000 by the end of 2014. Another 20,000 in 2015 will take the final tally to almost 150,000 by the end of 2015. Out of the total supply, properties which offer locational advantages in terms of vicinity to airport and Metros connectivity will have better absorption.

LONG-TERM FUNDAMENTALS

Gurgaon remains promising for office space, and there are good prospects for more major global players setting up operations here in near future. On the whole, this augurs well for the residential property market, more or less assuring relatively healthy absorption of residential space in the times to come. The new infrastructure initiatives of the Government will also play a crucial role for Gurgaon's residential and commercial property sectors.

source:- http://articles.economictimes.indiatimes.com/2012-03-30/news/31260867_1_capital-values-residential-gurgaon

Gurgaon residential property investor update

Over the last one year, capital values rose by more than 30-35% in Gurgaon�s residential sector. Developers are now going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in most prime markets

Over the last one year, capital values rose by more than 30-35% in Gurgaon�s residential sector. Developers are now going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in most prime markets. Emerging residential areas are still not able to meet the huge housing demand.

Two key reasons for increasing rental and capital values for residential properties are:

- Because of rampant construction delays, the expected supply of residential properties announced in early 2009 has not been able to reach the market. Around 500,000 units that were scheduled for possession in key markets by end of 2011 are delayed by another year

- There has been an increase in lateral hiring by corporates. With job scenario improving all over the country, people have more to spend. This has resulted in good investment opportunities, and investor sentiments in the affordable and mid-income segment of Gurgaon�s residential market have improved.

Hot Locations

Residential property prices on the upcoming southern peripheral road connecting to National Highway 8 have seen considerable appreciation over the past few months. This location holds great investment potential thanks to enhanced connectivity that NH8 provides to Manesar and Dwarka. In particular, residential properties along the Dwarka Expressway have attracted interest from the mid-income buyer group. As prices soar in upcoming locations of Gurgaon such as Golf Course Extension, Sectors 70 and Sector 78, buyers have been looking at these alternate locations.

The Downside

That said, not all residential projects rank equally from an ROI perspective. Whatever appreciation in capital values Gurgaon residential properties have seen does not seem as significant when seen in the light of factors like the higher interest rates on home loans. Nominal capital appreciation of a property may be as high as 25-30%, but the actual ROI after making adjustments for inflation and higher interest rates can be nil. There is a 75% chance of investing in a property that will not give investor any gains - and in some cases it may even result in a loss.

Gurgaon is expected to see a residential property supply explosion. There are 55,000 ready flats on the market today. We expect to have around 6000 ready flats by end of 2012, with an additional 65,000 by the end of 2014. Another 20,000 in 2015 will take the final tally to almost 150,000 by the end of 2015.

Out of the total supply, properties which offer locational advantages in terms of vicinity to airport and Metros connectivity will have better absorption. Strategic location and superior amenities will be the keys to profitable residential property investment in Gurgaon in the foreseeable future.

Long-term fundamentals

Gurgaon remains promising for office space, and there are good prospects for more major global players setting up operations here in near future. On the whole, this augurs well for the residential property market, more or less assuring relatively healthy absorption of residential space in the times to come.  The new infrastructure initiatives being undertaken by the Government will also play a crucial role for Gurgaon�s residential and commercial property sectors.

source:- http://www.moneycontrol.com/news/real-estate/gurgaon-residential-property-investor-update_682406.html

Dehradun ranks 5th on NRIs' list of property investment destination

The Rupee's sharp dip against the US dollar has made temptations for non-resident Indian (NRI) to buy property with realtors expecting an increase of 35% in business enquiries from the expatriates this year, reveals the associated chamber of commerce and industry of India (Assocham) recent findings.

Releasing the Assocham paper on “Falling Rupee sparks property boom from NRIs” D S Rawat, Secretary General Assocham said, “With the rupee riding low against the dollar, Indian residents are looking to accelerate investment plans back home”. The rupee has fallen by about 34% against the US dollar since August 2011 and crossed 65 against the dollar.

The survey highlighted that Bangalore is the most favourite property investment destination for NRIs followed by Chennai (2nd), Mumbai (3rd), Ahemdabad(4th), Dehradun (5th). A lot of Punjabis settled in Canada and UK are expected to invest more in Chandigarh sub-urban like Dera basi, Mohali and Panchukla. This time, there is a lower demand for the Delhi-NCR market, adds the Assocham survey.

Assocham conducted a random survey of nearly 1,250 real estate developers in Delhi-NCR, Dera Basi, Mohali near chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun, Chennai etc. The survey reveals that interest for buying property by NRIs have increased due to favourable exchange rates.

“The Indian property developers are anticipating a 35% surge in enquiries to NRI-based purchasers as the rupee dip against the dollar last six months. The decline in rupee has increased property sales because people want to get value for their money”, added majority of developers.

Rawat further said, “It’s definitely not good news for people back at home, but for a non-resident Indian (NRI), this is definitely the best time to invest. At the moment any non-resident Indian buying a property in India can save around 20-30% on his/her property value.

The enquiries may go up further if rupee continues to slide, adds majority of the real estate developers.

The majority of real estate developer said, the NRI traffic is coming primarily from the UAE/Gulf region, US, Singapore, Australia, UK, Canada, South-Africa etc. The demand is more for high end properties and commercial buildings.

As per the recent estimates, nearly 5 million Indian expatriates live in the six Gulf Co-operation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, and they remit close to $30 billion to India every year and have been growing over the years.

Buying a property back home is the top-most priority of every non-resident Indian, at least for those living in the foreign countries as the weakening rupee has given an impetus to fulfill that objective, added 75% of the real estate developers.

The Indian developers are optimistic and expecting to get a good number of booking this year. Their confidence is based on the fact that the rupee is plunging and has fallen 35% in last one year, adds the survey.

The enquiries from NRIs especially from the Middle-East, Europe, the US and Singapore for buying property in India have also risen by 20-25% following the rupee's depreciation.

The record decline in the value of the Indian rupee and the sluggish realty market, proved to be a double delight for overseas Indians investing in property here, adds the Secretary General.


source:- http://www.business-standard.com/article/companies/dehradun-ranks-5th-on-list-of-property-investment-destination-for-nris-113082200977_1.html

Spotting Real Gems

Just like balanced diet, your portfolio should be a healthy mix of varied assets for good growth. That is why financial advisors say that you must invest a part of savings in real estate too.

If you are looking to buy a house for investment in 2013 and are not sure where you can earn the best returns , don't worry. We bring you what experts say about real estate destinations that will give good returns over the next threefive years.

New Ground

In the last couple of years, the real estate market has changed remarkably in both metro cities and small towns. Prices have crossed the peaks reached before the 2008 economic slowdown.

However, in 2012, the companies grappled with economic uncertainty, low demand, fund crunch and high inflation. "High inflation and interest rates dealt a double blow to developers by increasing input and debt costs. Sales fell as buyers became wary of rising interest rates," says Shveta Jain, executive director, residential services, Cushman & Wakefield (C&W) India, a property consultancy firm.

Still, the mid-end residential segment continued to generate buyer interest. This, and increase in prices of raw materials, pushed up prices in most cities.

Realtors will grapple with a lot of inventory and debt in 2013, say experts. "In 2013, developers will price projects more judiciously and offer a lot more pre-launch benefits. Those with large projects and inventory will be under more pressure to give discounts," says Anuj Puri, chairman and country head, Jones Lang LaSalle India, a property consultancy.

The Union Budget can also be a milestone as the sector looks forward to big policy decisions and reforms, including the grant of industry status.

Add caption

Destinations that are expected to give the highest returns on residential properties in the next five years

DELHI-NCR

The Delhi-NCR is the favourite of property consultants. With massive infrastructure works in the pipeline, locations such as Dwarka Expressway, Noida Extension and New Gurgaon are likely to attract a lot of buyers-both investors and end-users.

"The market, once driven by investors, has slowly shifted towards end-users, as the former's cash position worsens and end-users step in to capitalise on low prices," says Aniruddh Wahal, co-head, occupier services, DTZ India, a real estate consultancy.

Dwarka Expressway:

Since 2009, developers have started residential development along the upcoming Dwarka Expressway, an eight-lane expressway that will provide an alternative link between Delhi (Dwarka) and Gurgaon. New projects, expected to be ready by 2015, cater to the middle and high-end segments.

"Its proximity to the capital city and the international airport gives it an edge over other emerging destinations such as Noida-Greater Noida Expressway, Yamuna Expressway, Bhiwadi and Dharuhera," says Wahal.

The area is divided into two parts-the northern region on the side of Dwarka and the southern region closer to Gurgaon. The north (Sectors 103, 106, 109-113) is expected to surpass the south in returns due to proximity to Dwarka and the international airport.

DTZ India says prices in the region will go up by 25-30 per cent per year over the next five years. Knight Frank has forecast an annual return of 16 per cent during the period.

Noida Extension:

Though developers recognise Noida Extension as a separate location, it comprises Sectors 1, 2, 4, 16B, 16C, 16D and Knowledge Park V of Greater Noida. It is close to Noida (10km from Noida City Centre) and 18km from Connaught Place, New Delhi's prime business location. A proposed metro rail link will improve connectivity between Noida and Delhi.

"It is the most attractive location in the NCR for affordable housing and is expected to see yearly growth of 15-20 per cent in the next five years," says DTZ's Wahal. Knight Frank says properties in Noida Extension will give an annual return of 16 per cent over the next few years.

Greater Noida:

With options ranging from Rs 3,200-15,000 per sq ft and returns of 18-30%, residential real estate looks promising over the next five years.

SAMANTAK DAS

Director, Research & Advisory Services, Knight Frank India

Situated around 40km from the south-eastern part of New Delhi, Greater Noida is emerging as an industrial region and an educational hub.

It has good infrastructure and is home to several big companies. It is connected to Noida by a six-lane highway operational since 2002. You can drive from Noida to Greater Noida in 15-20 minutes. The Yamuna Expressway, which has also become a property hotspot, connects it with Agra via Mathura. A metro link will connect it with Noida, Ghaziabad and New Delhi.

Greater Noida is an attractive location for mid- and high-end residential segments. "Though there was not much activity in last 15-17 months due to land acquisition and master plan issues, things are expected to pick up. The area may witness a year-on-year price increase of 20-25 per cent," says Wahal.

MUMBAI

The Mumbai market was subdued in 2012 with prices rising just 2-7 per cent. The demand is expected to pick up in 2013, mainly in the mid-end segment. The eastern suburbs of Mumbai (mainly Chembur, Kurla and Wadala) are expected to provide good returns on account of lower prices compared with areas in central Mumbai and western suburbs.

Ulwe:

Ulwe is an emerging location south of the Panvel creek. It is connected with the Uran Road that connects it with the Thane-Belapur Road as well as the JNPT Road to Jawaharlal Nehru Port. While Ulwe is just 7km from Belapur, a commercial hub, five other office destinations are within the 22km radius. Once the Nerul-Seawood-Uran rail network is ready, Ulwe will be connected with major office locations through a mass rapid transport system. At Rs 4,000 per square foot, one can buy a one-bedroom flat here for Rs 20 lakh. Ulwe is the most attractive destination in the Knight Frank report, which says it may give an annual return of 20 per cent in the next five years.

Chembur:

Located in the Mumbai Metropolitan Region's central zone, Chembur's proximity to the Bandra-Kurla Complex and other office destinations will fuel demand for residential properties here, say experts.

In 2013, developers with large projects and inventory will be under more pressure to give discounts than those with smaller projects and limited inventory.

ANUJ PURI

Chairman and Country Head, Jones Lang LaSalle India

The upcoming rail, metro and road networks such as the Eastern Freeway, the Santacruz Chembur Link Road and the Chembur-Wadala-Jacob monorail will boost connectivity to the area.

Limited land availability will limit new construction and keep supply under control here.

Knight Frank says prices here are expected to rise from the current Rs 12,000 per square foot to Rs 27,000 per square foot by 2017. This comes to an annual return of 18 per cent.

Wadala:

Strategically located in the MMR's central zone, Wadala is at a comfortable distance from the MMR's main employment centres. The Eastern Expressway connects it with other regions of the central zone as well as business hubs in the island city. It is also connected through the suburban train network. It will also benefit from the under-construction Chembur-Wadala-Jacob monorail project as the Wadala-Chembur part is expected to be ready in 2013.

The regional development authority's plan to develop Wadala on the lines of the Bandra-Kurla Complex may add to its appeal. Knight Frank says the area may give an annual return of 18 per cent over the next five years.

BANGALORE

This information technology (IT) hub saw steady sales in 2012, prompting developers to launch new projects. Prices in under-construction projects in growing submarkets have risen by 10-30 per cent in the past one year.

"The demand for houses is expected to remain stable or grow moderately in 2013," says Wahal.

Bangalore is expected to offer an annual return of 15 per cent over the next five years.

"The city is the lowest in terms of capital values (compared with Delhi and Mumbai) and has seen moderate price appreciation," says Jain of C&W.

The international airport and other infrastructure projects have shifted momentum towards the northern and eastern regions.

Kanakpura, Sarjapur Road, Bannerghatta Road, JP Nagar, Jaya Nagar, Whitefield, Varthur, Mahadevapura, CV Raman Nagar, Uttarahalli, KR Puram and Electronic City have emerged as the city's main residential markets.

Hebbal:

The Bangalore international airport has made Hebbal an important destination. It has also emerged as an IT hub with several technology parks and companies.

In 2013, the demand for residential units in the top eight cities is expected to be 3.3-3.5 lakh as against the supply of 2.2-2.3 lakh units.

SHVETA JAIN

Executive Director, Residential Services, Cushman & Wakefield India

Hebbal has good infrastructure to support residential growth. New monorail and high-speed rail networks along with the Bangalore metro will boost its connectivity.

KR Puram:

Closeness to the IT hub of Whitefield and Manyata Tech Park makes it a desired residential destination for IT professionals. KR Puram is located on the National Highway 75. The Baiyappanahalli metro station is just 3km away. The proposed Peripheral Ring Road and widening of the Old Madras Road will improve connectivity.


source:- http://businesstoday.intoday.in/story/best-place-to-buy-a-house-in-delhi-bangalore-mumbai-in-2013/1/191109.html

Delhi NCR - becoming a new realty investment destination

Investing in property and real estate has been become the most popular and important trend for the people, people feel more secured while investing in the real estate sector. Property or real-estate investing or dealing has also become a major source of making money for many people or businessman.

Delhi NCR being the capital proves to provide the investment place to the new developers Tata Housing, Chintals, Shobha Developers. The projects from new developers is providing buyers to pick the best one out for themselves.

In Gurgaon, new projects by Emaar MGF, Ireo, Bestech, Unitech, The 3C Company, Vatika, Vipul, Central Park, Shobha are all coming up with premium living housing projects. These developers are constructing luxury apartments, villas, independent bungalows and duplexes with the price ranging from Rs1.5- 7 crore.

Projects launched in Delhi NCR in the year 2012 were highest in number as compared to Mumbai, Bangalore and Chennai. Delhi NCR has in the last year  emerged as the most preferred location for investors and end users because of the  high rate of appreciation and ease of resale of property.

According to a report in The Economic Times,  "yearly price appreciation in the high-end property segment has come down by 35-50 percent since 2008-09 when investors used to book returns of 15-20 percent on an average. In the last two years, price rise in this segment has plateaued, with yearly returns of only 6-7 percent across the country."

The developers find a great scope of investments as the Delhi NCR is now well connected (Delhi , Noida, Gurgaon, Indirapuram, Vaishali). And coming of metro connectivity helps the reach to the defined destination in lesser time.

India has a progressively increasing economy and tourism. Delhi NCR, for example, boasts of striking places, which are certified attractions for those hunting for the vital vacation knowledge. As an investor however, you obviously desire to know how investing in Delhi NCR Real Estate is a valuable attempt.

As far as real estate development is concerned and property prices are rising YoY, therefore from developers point of view, they are definitely benefitting in the market (12% - 15%) compared of outside developers.

The real estate in Gurgaon is surging strongly. Its improving infrastructure, business environment, coupled with the growing income and changing lifestyle of the residents are the factors encouraging real estate developers to bring more and more frenetic developments in this fast flourishing cyber city."

source:- http://www.moneycontrol.com/news/real-estate/delhi-ncr-becomingnew-realty-investment-destination_813906.html

Investment In 3 BHK Flats In Noida- A Fruitful Option

This article is about how demand for property in Noida is increasing and why 3 BHK flats in Noida are a good investment option.


With housing space shrinking in Delhi-NCR, the two satellite cities of Noida and Gurgaon have emerged as real estate hotspots in recent years. These two cities are expanding and developing rapidly. With steady growth and development, the real estate industry in Noida and Gurgaon is also making rapid strides.


Investment is real estate has proved to be a safe bet for investors even in the wake of global financial crisis. With Noida emerging as a real estate hotspot, investors are coming forward to invest in property in this satellite city.


What makes Noida a real estate hotspot: Infrastructure and connectivity are determining factors when it comes to real estate investment. Noida is close to Delhi and well-connected with the rest of the country. Roadways connectivity in Noida is strong. The three expressways – DND Expressway, Yamuna Expressway and Noida-Greater Noida Expressway ­– have well-connected Noida with Delhi and other NCR regions. The Indira Gandhi International Airport in Delhi is also located close to Noida. All these factors have contributed to the increased demand for property in Noida. Moreover, Noida has a planned infrastructure, which is improving by the day.


Noida has also become a hub for international companies which outsource IT services. With job opportunities galore in Noida, professionals from other parts of the country have moved here in search of a good career. This has created the need for more and more residential living space. Thus, residential property is in much demand in this city, besides commercial property.


Keeping the rising property demand in mind, real estate developers are leaving no stone unturned to present home seekers with living spaces that have all the facilities to make life luxurious, comfortable and stylish.


Real estate developers are losing no time to launch residential housing projects. The residential flats in Noida which have been newly built have top class amenities. The demand for a flat in Noida in high is sector 18, sector 25, sector 32 and sector 61.


More and more townships, commercial establishments and shopping malls are going to come up in Noida, More infrastructural development is on the anvil. Many tourism and entertainment projects have also been taken up. These factors further make Noida an attractive real estate investment hub.


Price of Noida property is increasing. The appreciation in property prices in Noida is 30 per cent annually.  This is indeed the right time to invest in real estate projects in Noida.


When it comes to investing in residential property in Noida, investing in 3 BHK flats is an attractive option which promises good returns. Prices of 3BHK flats start from 90 lac- 1crore.


These apartments boast of splendid amenities like 24 hour water supply, power back-up, security, gym, swimming pool, RO water system, intercom facility, fire alarm, centrally air-conditioning, Feng Shui/ Vaastu compliant, parking facility, maintenance staff, rain water harvesting system, golf course and cafeteria.


Prices of 3 BHK flats in Noida are high and are expected to increase further. Indeed, 3 BHK flats present a fruitful investment opportunity in Noida.


source:- http://www.siliconindia.com/realestate/news/-Investment-In-3-BHK-Flats-In-Noida-A-Fruitful-Option-nid-151408.html

Policy for development of industrial colonies

The Haryana Government has issued a new policy regarding grant of licenses for development of industrial colonies, cyber parks and cyber cities.
While stating this here today, an official spokesman said for development of an industrial colony, the licence would be granted by the Director, Haryana Town and Country Planning, with prior internal concurrence of the state government at the level of the minister-in-charge.

 He said outside the urbanisable zone of published development plan, such colonies would also be permitted in the agriculture zone outside urbanisable zone. He said the de-notified Special Economic Zones (SEZs) in the state with land measuring 50 acres and above, situated anywhere in the controlled areas or urban areas, except those falling in the residential land use zone of the development plan, would also be eligible for licence of industrial colonies as a one-time relaxation in the designated land use conditions.
source:- http://www.realtyfact.com/policy-for-development-of-industrial-colonies/

JLL facilitates 25 acre land deal of Rs 100 crore in Bangalore

NEW DELHI: Property consultant Jones Lang Lasalle (JLL) India today said it has facilitated a 25-acres land deal in Bangalore being purchased by L&W Construction for Rs 100 crore.

“Jones Lang LaSalle has advised on the outright purchase of 25 acres prime land at Devanhalli, Bangalore by L&W Construction Pvt Ltd from a large Bangalore-based industrial group. The transaction value was Rs 100 crore,” the consultant said in a statement.

L&W Construction, a subsidiary of Singapore’s Lee Kim Tah Woh Hup Pte Ltd, has acquired this land to develop a high-end residential project.

“This is an extremely strategic acquisition for L&W Construction Pvt Ltd, and one of Bangalore’s largest land deals of 2013 to date,” JLL India Managing Director (Land Services) Mayank Saksena said in a statement.

L&W Construction commenced operations in Bangalore in 2006 to carry out businesses in project management and construction activities. It has also diversified to undertake property development through partnership.

In developing the project, L&W Construction will draw on the extensive expertise of Lee Kim Tah Woh Hup, which is an equal joint venture firm of Lee Kim Tah Holdings and Woh Hup (Pte), two of Singapore’s oldestconstruction companies.

“The Devanahalli sub-market is defined by an impressive scale of activity on premium and luxury projects. This is largely due to the ongoing and planned infrastructure developments in these areas, with the establishment of Bangalore International Airport being one of the primary catalysts for the North Bangalore micro-market,” JLL India said.

http://economictimes.indiatimes.com/markets/real-estate/news/jll-facilitates-25-acre-land-deal-of-rs-100-crore-in-bangalore/articleshow/20911111.cms

Godrej Properties inks JV with landowner Oasis Buildhome for housing project

DELHI: Real estate firm Godrej Properties today said it has entered into an agreement with Oasis Buildhome, which owns nearly 14 acre of land in Gurgaon, to develop a premium housing project.

This would be the fourth project of Godrej Properties, which is part of realty arm of Godrej Group, in the national capital region (NCR).

In a filing to the BSE, Godrej Properties informed that it has “entered into a development agreement with Oasis Buildhome Pvt Ltd to develop a 13.76 acre property situated on Northern Periphery Road (NPR) in Sector 88A/89A, Gurgaon”.

The project would be developed as a premium residential group housing project and is expected to offer 1.2 million sq ft of saleable area, it added.

Godrej Properties is currently developing two residential projects in Gurgaon and has recently added a new project in Okhla in the national capital where it plans to undertake a premium housing project. As with most Godrej Properties projects, this project is being done as a joint venture.

“We are happy to add this new project in Gurgaon to our development portfolio. NCR is an important growthmarket for us and this is the second new project we have entered in NCR in FY14,” Godrej Properties Managing Director & CEO Pirojsha Godrej said.

The project fits well with the company’s strategy of growing its presence in India’s leading real estatemarkets, he added.

Godrej Properties is currently developing residential, commercial and township projects spread across 87.6 million square feet in 12 cities.

http://economictimes.indiatimes.com/markets/real-estate/news/godrej-properties-inks-jv-with-landowner-oasis-buildhome-for-housing-project/articleshow/21620098.cms