Omaxe to Set up Theme Township

Delhi-based real estate major Omaxe will develop a theme township on 393 acre at Naya Raipur – the capital city of Chattisgarh. The Omaxe Golf Theme Township will be developed at a cost of Rs 1,800 crore. Omaxe has developed residential and commercial real estate projects ranging from integrated townships, group housing, office/commercial spaces, shopping malls, hotels, IT and bio-tech parks to special economic zones.

Budget Evokes Mixed Reactions from Realty Sector

The India Real Estate sector has welcomed the overall impact of budget while saying that it could have done more for the industry. The sops given to infrastructure and housing sector in rural areas are welcome. However, a reduction in duties and service tax benefits directly to consumers would have propelled the demand for realty across the country.

R Kamat Hotels forays into Luxury Business

The company would start with 26 hotels in Maharashtra, Karnataka and Goa to be operational by 2010. Several other projects were also gearing up for launch, while six VITS hotels would be ready by 2008. Kamat Hotels (India) is better known for the chain of south Indian restaurants it operates and the ‘Orchid’, the country’s first 5 Star Ecotel.

Unitech to Develop 80 acres of Prime Mumbai Land

Unitech has ventured into the Mumbai market to develop around 80 acres in central Mumbai over the next five years. Unitech has tied yup with a Mumbai- based company that has around 20 acres of land near the Bandra-Kurla Complex and is likely to acquire another 60 acres nearby.
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DLF sold 49% Stake in Projects to Merrill Lynch

Total value of this deal is Rs1,675 cr. Merrill Lynch picked up stakes in seven projects in Chennai, Bangalore, Kochi, Indore for Rs1,481 cr. In a separate transaction, DLF diluted 49 per cent equity in another middle-income housing project at Panchkula in Haryana to Brahma Investments for Rs 194 crore.

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Delhi, Mumbai Among world’s Costliest office Locations: CBRE

London’s West End, Mumbai, the City of London and Moscow are top four most expensive office markets in the world says CBRE’s latest report. Mumbai’s Nariman Point at $189.51 (occupation cost in US$/sq ft/annum) rose three places to second spot.

Parsvnath Developers spreads wings to Jammu

Approved by Jammu Development Authority (JDA) in the region with an approximate realization value of over Rs100 crore in the next three years including this financial year, this is the first integrated group housing project being developed in Jammu by a national Real Estate player

Centre`s nod for Chennai Metro Project Soon

The Centre will soon give its nod for the Chennai metro rail project and help the Tamil Nadu government introduce a bus rapid transport system in Chennai and tier II cities like Coimbatore, Tiruchi and Madurai. The Centre is in touch with the Tamil Nadu government and the Rs 10,000-crore metro project for Chennai will be sanctioned soon.

Govt Plans Panel to Assess Fund Needs for Urban Infrastructure

The Union ministry of urban development is planning to set up a committee to estimate the investments needed for urban infrastructure in the country, even as flow of grants from its flagship Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme for infrastructure development continues to accelerate.

Omaxe to Develop Budget Hotels

The developer is in talks with US developer Starwood hotels and resorts to develop budget hotels in Tier2 cities in India. The plan is to have at least 9 to 10 budget hotels in the chain which will be built by Omaxe and operated by Starwood.