Real Estate in India: Housing, Courses, Apartments, Pricing and more

Weekly news updates on trends in the Indian real estate market

Chillibreeze Business Research Team

Oakwood Asia Pacific launches serviced apartments in Pune

Oakwood Asia Pacific launched its first service apartment in Pune.

Oakwood Asia Pacific is a division of Oakwood Worldwide, the world’s largest provider of serviced apartments with 20,000 rooms under management.

Oakwood plans to launch three premier properties in Mumbai, Bangalore and Pune and five residence properties in Hyderabad, Bangalore, New Delhi, Chennai and Gurgaon in the next 18-24 months.

July 6, 2007
Source: Llivemint.com

15 per cent drop in real estate prices

Chennai real estate is now on a downward slide. Market studies have shown that prices of land, apartments and even commercial rentals, particularly that of IT buildings have come down by about 15 per cent. Experts say that price correction was expected, however, it will mostly benefit the builders as they can purchase large tracts of land at lower prices.

Land in Sriperumbudur, which was selling at Rs.7 lakh to 8 lakh per ground, has come down to Rs.5 lakh to 5.5 lakh. Layouts promoted at Vadkapattu, on the outskirts of Chennai, which were selling thick and fast, are stagnating.

Jul6, 2007
Source: The Hindu

Lehman and DE Shaw buy into property fund

Lehman Brothers and hedge fund DE Shaw invested $600m (€440bn) in a fund set up by DLF to make property acquisitions. DLF shares leaped 11% from an issue price of 525 rupees to 582.5 rupees on the Bombay stock exchange.

Indian property prices have fallen about 10% in the last four months, and analysts expect a further drop.

July 5, 2007
Source: Financial news online

Real estate TV to market home owning dreams to Indians

A 24-hour TV channel dedicated to real estate goes on air this month in India. The channel will be available to the Indian expatriate community in the Gulf.

Real Estate TV is expected to be the first of its kind channel in south and south east Asia. The channel is expected to cover all aspects related to the property business and related industries, such as cement and steel including shows on lifestyle, heritage homes and interior décor.

July 5, 2007
Source: NDTV Profit

Unitech to invest Rs 6,000 cr in housing

Unitech is investing Rs 6,000 crore, during the next seven years, to develop a high-end luxury residential project in Noida. The project ‘'Unitech Grande' is expected to generate a whopping Rs 15,000 crore revenue.

The project involves 10 global architectural and design consultants. It comprises 90 towers, of which eight will be signature towers and four gateway, having 36-45 floors each. It would have three schools, a five-star hotel comprising 500 rooms, a 200-bed hospital, integrated sports complex, various clubs, fitness centre and security features.

A Greg Norman signature designer golf course would be the main attraction of the project. It is slated to become the most luxurious residential address in Asia.

Jul 5, 2007
Source: PTI via ET

Investing in India

According to Dorothy Alpert of Deloitte & Touche, ‘India presents extraordinary real estate opportunities for astute foreign investors’ and ‘deep market knowledge, development-process familiarity, steely nerves, patience and higher-than-usual risk tolerance may be essential to realizing the gains’.

Jul 5, 2007
Source: Multihousingnews.com

Ansal Properties signs an agreement with Fortis to develop Medicity in Lucknow

Ansal Properties & Infrastructure Ltd has signed an Agreement with Fortis Healthcare Holding Ltd, (Fortis) for setting up a world class Medicity at its Project, Sushant Golf City, located in Lucknow (U.P).

Jul 4, 2007
INR news

Emmar-MGF bags CG village project

The Delhi Development Authority awarded the contract for building the Commonwealth Games village to Emmar MGF. The games village is to be completed by December 31, 2009.

Jul 3, 2007
Source: PTI via Economic Times

Many takers for realty courses

Real estate is becoming part of the professional curriculum.

The Indian Institute of Real Estate (IIRE) — affiliated to the National Association of Realtors (NAR), the leading real estate association in USA, offers real estate certification programs online in India since 2003. Online registrations for the course are on the rise and IIRE is working on tie up Maharastra to introduce the course in colleges.

London-based Royal Institution of Chartered Surveyors (RICS) is exploring partnerships with Indian universities and B-schools to offer RICS-accredited courses in India. RICS is planning to introduce courses in valuation, quantity surveying and construction.

The Indian School of Business (ISB) Hyderabad, has established the country’s first research chair for 'Real Estate and Urban Studies’

Jul 2, 2007
Source: Business Standard

Golden Hue

Amritsar is witnessing large scale real estate activity. Factors contributing to this include the rising demand for quality housing and recreation, NRI investments, proposed upgradation of NH 1 and the city airport, retail activity and the state government’s initiatives to improve existing infrastructure.

Radisson, Oberoi and Taj are planning hotels. Multiplexes, villas, luxury and service apartments and penthouses are being provided by MGF, Alpha G Corp, Omaxe, Heritage, Advance India Projects, Nitishree and Ansals.

Real estate prices are high and maximum activity is visible on the Amritsar-Rajasansi Road, the mall, G T Road, Airport Road, Kashmir-Batala Road, Amritsar bypass to Attari and Amritsar-Wagah road.

Jul 1, 2007
Source: Economic Times