Smaller cities in India as well as china are expected to record high growths in real estate especially in the residential sector. According to industry reports, investment in real estate in both these countries will surge further. With the rising middle class, the investment in this sector will gain further.

Autolite India is entering the real estate market. It is diversifying in to this field with investment plans ranging from SEZ, IT Park/commercial complex /residential complex, etc.

Real estate developer Uppal Group has recently tie up with hospitality major JW Marriott for developing and managing two five-star hotels. A total investment of Rs 5 billion would be made for this project. One of the hotels would come up in Gurgaon which will have 210 rooms, while other hotel in Chandigarh would have 175 rooms. The hotels would be managed by international chain JW Marriott Hotel through a revenue-cum-profit sharing agreement.

Smaller cities in India as well as china are expected to record high growths in real estate especially in the residential sector. According to industry reports, investment in real estate in both these countries will surge further. With the rising middle class, the investment in this sector will gain further.

Eight developers have shown interest in Delhi Development Authority’s ambitious project of going ahead with the “In-situ Slum Rehabilitation Scheme”, wherein slum dwellers of chosen clusters will be rehabilitated at or near the site of existing clusters themselves in organised multi-storey dwelling units.

The developers, who have applied in response to DDA’s call for request for qualification for the scheme, include Pune- and Mumbai-based companies also. Mumbai-based Housing Development Infrastructure Limited, an established name in the state, is one of the applicants. Then there is BG Sirke, another major developer from Pune. Even big developers like UNITECH have shown interest.

According to DDA officals, firms from Mumbai and Pune seem keen as the in-situ rehabilitation of slum dwellers along lines that DDA is planning has already been executed in Mumbai. DDA, which is scrutinizing credentials of these eight developers, will short-list final contestants in about two weeks. DDA will then ask them to submit a detailed proposal and financial bids. These will then be analyzed and the final developer for each project will be selected from time to time. DDA hopes to start awarding work by December end.

The first four projects which are likely to kickstart first include sites at Kathputli Colony, spread over an area of 5.22 ha, Jailorwala Bagh, spread over an area of 10.2 ha, Block E & F Sector-18 Rohini, spread over 3.02 ha, and Camp 2 Keshopur Vikas Puri, spread over 0.7854 ha. There are about 5500 JJ units eligible for rehabilitation in these clusters.

Besides these four, there are 17 more sites DDA has chosen to execute the scheme. These include sites like Krishna Park near Vikas Puri, Shyam Nagar K-Block, Shankar Garden in Vikas Puri, JJ Cluster Subhash Nagar-I, Raghubir Nagar, behind booster pump, and three clusters in Vasant Vihar, among others.

Earlier this month, Delhi Development Authority came out with an “In-Situ Slum Rehabilitation Scheme”, wherein a number of JJ dwellers will be rehabilitated with all civic amenities near the area, where they have been living in jhuggi jhonpri clusters for years.

The initiative for rehabilitation of slum and JJ dwellers is a departure from the earlier resettlement schemes, wherein jhuggi dwellers were shifted and settled at far off places from their places of occupation and residence, leading to unemployment and further proliferation in search of occupation. The earlier policy had failed to work and saw the return of slum dwellers to their original place of occupation.

Under the scheme, resettlement will be done on the land occupied by JJ clusters with private partnership. The land will be sold through tender process to a private partner for construction of multistory houses. The number of storeys will depend on availability of land and can vary from 9 to 11 storeys. Provision for lift is also being considered.

  Courtesy:- TOI dtd:- 6th Oct. 2008

NATIONAL Building Construction Corporation (NBCC), a mini-ratna public sector undertaking, is planning to float an initial public offering (IPO) next year.

The company, which has recorded a 400% jump in its net profit at Rs 280 crore in 2007-08, plans to raise money from the market to venture into power sector.

“We are planning to raise money from the market. We hope to launch the IPO by the next year as the market is expected to move up in the near future,” NBCC chairman & managing director Arup Roy Choudhary said. Besides its involvement in building and construction activities, NBCC is planning to launch several power projects in various states.

“We are having discussions with several state electricity boards for power projects under joint venture,” Mr Chouhury said. The company is in the process of developing a 1,000-MW power project in Chhattisgarh.

Besides Chhattisgarh, NBCC is having discussions with Karnataka and Jharkhand for setting up power projects.

The company is also diversifying into housing sector and has already taken up housing projects in Delhi and Kolkata. The company’s plan is to construct affordable houses in the national capital region (NCR) in the near future. It also has a overseas plan. “We want to expand out construction activities in the Middle East first,” he said.

Courtesy:- ET dtd:- 4th Oct. 2008

CHD Developers Limited will build four exclusive townships across north India. Named Active Senior Lifestyle Townships, these will comprise flats and villas and be targeted at senior citizens, with an investment outlay of Rs. 1700 crore. The uniqueness of these projects would be that they will comprise only ground floor villas and only those above 60 years of age would be allowed to own a property here.

CHD Developers plan to develop 7,000 such homes and villas in these projects planned for the cities of Karnal (Haryana), Rishikesh (Uttarakhand), Mathura (Uttar Pradesh) and Neemrana (Rajasthan) over a total land area of 350 acres at an approximate cost of Rs 5 crore per acre.

The first of these townships is slated to come up in Karnal and will be spread over an area of 100 acres and have approximately 2,000 villas. The project is expected to be complete by 2011 and the estimated cost for the Karnal Township is Rs 500 crore. The project in Rishikesh will be the largest with 150 acres of land.

CHD Developers Limited will build four exclusive townships across north India. Named Active Senior Lifestyle Townships, these will comprise flats and villas and be targeted at senior citizens, with an investment outlay of Rs. 1700 crore. The uniqueness of these projects would be that they will comprise only ground floor villas and only those above 60 years of age would be allowed to own a property here.

CHD Developers plan to develop 7,000 such homes and villas in these projects planned for the cities of Karnal (Haryana), Rishikesh (Uttarakhand), Mathura (Uttar Pradesh) and Neemrana (Rajasthan) over a total land area of 350 acres at an approximate cost of Rs 5 crore per acre.

The first of these townships is slated to come up in Karnal and will be spread over an area of 100 acres and have approximately 2,000 villas. The project is expected to be complete by 2011 and the estimated cost for the Karnal Township is Rs 500 crore. The project in Rishikesh will be the largest with 150 acres of land.

CHD Developers Limited will build four exclusive townships across north India. Named Active Senior Lifestyle Townships, these will comprise flats and villas and be targeted at senior citizens, with an investment outlay of Rs. 1700 crore. The uniqueness of these projects would be that they will comprise only ground floor villas and only those above 60 years of age would be allowed to own a property here.

CHD Developers plan to develop 7,000 such homes and villas in these projects planned for the cities of Karnal (Haryana), Rishikesh (Uttarakhand), Mathura (Uttar Pradesh) and Neemrana (Rajasthan) over a total land area of 350 acres at an approximate cost of Rs 5 crore per acre.

The first of these townships is slated to come up in Karnal and will be spread over an area of 100 acres and have approximately 2,000 villas. The project is expected to be complete by 2011 and the estimated cost for the Karnal Township is Rs 500 crore. The project in Rishikesh will be the largest with 150 acres of land.

If you fail to get a flat in the current DDA housing scheme, don’t lose heart. National Building Construction Corporation, the largest public sector construction company, will soon launch a scheme for 2,000-2,500 houses in south Delhi, near Mehrauli.

For those who dream of a house in the city, the scheme is a winner as the flats which will come up in an area of about 30-35 acres near Mehrauli, will be available at prices much lower than the prevailing market rate.

NBCC, which is set to announce the project by the year-end, is also working on housing projects in Gurgaon and Greater Noida.

Preliminary estimates suggest that a two-bedroom flat would cost around Rs 20 lakh, a three-bedroom flat around Rs 30 lakh and four-bedroom flat around Rs 40 lakh.

”NBCC is going to sell these properties at cheaper rates than private sector builders at the same locations,” said Arup Roy Choudhury, chairman and managing director of NBCC. Besides, ”the plan is to construct affordable houses in the NCR region in the near future”.

According to company officials, all the housing projects will have a mix of commercial and residential properties which will help in cross-subsidizing housing units.

The details of Gurgaon and Greater Noida projects are still being worked out and the company’s negotiations with the state governments and private players for acquiring land are at an advanced stage, an official said.

NBCC, upbeat with real estate’s contribution of Rs 376 crore to its total income of Rs 2,025 crore and net profit of Rs 280 crore, now plans to enter the all-India market.

Apart from Delhi and NCR, the company has taken up projects in Kolkata and the north-east and is considering projects in Visakhapatnam, Kochi and Chennai.

Courtesy:- TOI dtd:- 4th Oct. 2008