India Real Estate Information: Golf Course, Premier Properties

Weekly news updates on trends in the Indian real estate market

India’s is on the road to development and the infrastructure woes can derail the process. All cities in India need massive investments for improving the basic infrastructure and services. Developers continue to focus on luxury homes but the plans for developing cities have hardly any private players.

Chillibreeze Business Research Team

Life in the high-end lane

Luxury homes are happening..
Developers are targeting the premium category buyers by offering designer homes and facilities like golf courses.

Some examples include Unitech Grande (at Noida will have 2,200 sq ft-plus apartments priced at Rs 7,750 per sq ft), Omaxe (The Forest at Faridabad) and Chattan and Evita (Mumbai).
July 21, 2007
Source:Business Standard

Hamptons enters Indian realty biz

Hamptons International, a premier international residential sales agent is all set to commence operations in India. It will set up offices in Delhi, Mumbai and Hyderabad before the year end. Hamptons will provide services in the area of international sales, lettings, residential developments, property management and mortgages.

The UK-based broking firm, was acquired by Emaar in 2006. Hampton's entry into India is a result of an initiative by EmaarMGF, a 50:50 JV with Emmar and MGF.
21 Jul 2007
Source: The Times of India

Indian property market 'to quadruple in value' by 2010

The overall property market in India is worth about $12 billion.

According to Indian Ocean Ventures, the value of the property market in India is expected to increase by more than four times by 2010.

"This market is probably going to be a $50 billion to $55 billion market by 2010."

Indian Ocean Ventures is a real estate investment firm with offices in both London and Mumbai.
July 20, 2007
Source: realestatetv.com

Small is big

According to the State of World Population 2007 Report, most of the urban population growth in India (and the world over) is taking place in smaller cities of less than 5 lakh population..

In India, more than 60 per cent of the total urban population lives in cities and urban agglomerations with less than 10 lakh population. These smaller and mid-sized cities are estimated to grow very fast over the next two decades for several economic reasons.

A recent real estate study also listed smaller cities such as Chandigarh, Nagpur, Kochi and Meerut as the future points of growth for the Indian economy using indicators such as population growth, tax collections and consumption patterns.

However, the small and mid-sized cities are massively underserved when it comes to housing, health infrastructure, transportation, piped water, waste disposal and other services. These cities have a very high percentage of population living in slums.

Political and administrative will as well as training for better negotiation skills and capacity augmentation are needed to make any progress on city improvement isses.

July 19, 2007
Source:Business Standard

Unitech to invest US$ 720 million in 4 years

Unitech plans to invest $720 million in four years to build 28 hotels with partners.

Unitech has hotels under construction in Kolkata, Noida and Gurgaon, and executive apartments in Gurgaon, which will be run by Marriott.

July 19, 2007
Source: Business Standard

Taubman in talks with RIL for India entry

NYSE-listed Taubman Centers Inc has initiated talks with private equity funds, including the Reliance Industries-backed Urban Infrastructure Opportunities Fund (UIOF), and real estate developers.

Taubman Asia was set up recently, with Hong Kong as its headquarters, for expanding in the Asian markets
Taubman is credited with running some of the popular malls in the US

July 19, 2007
Economic Times

No policy to build new towns

By 2020, India will need 16 more cities like Delhi.

India has no policy framework for building new towns.

Land acquisition policy needs improvement and change to facilitate quick and easy conversion of agricultural land to urban land. Examples of Gurgaon and Magarpatta have lessons to offer on how to change.
July 19, 2007
Economic Times

Mantri Realty gets approval for 44 acres IT Park at Nagpur

Mantri Realty will build a 44 acres IT/ITES SEZ at Butibori Industrial Area at Nagpur. The SEZ land has been acquired and the project has achieved financial closure with a total outlay of Rs 780 Crore.

The proposed IT park is close to MINHAN-the Multi-modal International Hub Airport at Nagpur

July 19, 2007
Source: INRNews.com

SunCity enters India

Malaysian firm Sunway City Bhd plans to enter Indian markets.

The company has started on two property development ventures in Hyderbad and has identified Hyderabad, Bangalore and Pune as potential cities for expansion.
Jul 16, 2007
Malaysia Star