Parsvnath, Indiabulls tie upto develop railway land

Parsvnath Developers and Indiabulls Real Estate have come together to bid for ten prime location plots being offered by the Indian Railways for commercial development across various cities. Parsvnath and IBREL have entered into an understanding for the submission and bidding for the land offered by the railway ministry through RLDA and under the agreement, the RFQ for 10 locations have been submitted.

Rakeen, Trimex to invest $5bln in India

UAE-based real estate company Rakeen and Chennai-based mineral firm Trimex Group have formed a 50:50 joint venture company – Rakindo Developers – which would invest over $5 billion in India’s real estate sector over the next five years. Rakindo Developers plans to develop over 50 million sq ft of residential, commercial and office space.

Israeli real estate firms to invest $400mn in Chennai

Two Israeli real estate firms will jointly invest $400 million in developing a residential and commercial project in Chennai. Electra Real Estate Ltd and Property and Building Ltd are in negotiations to buy a 37.5 acre plot in the southern metropolis zoned for a 426,000 sq mtr residential and commercial project for $58 million.

Delhi Govt to pay more for land, end users to suffer

The Delhi Govt has decided to increase compensation for land acquisition by three times. Experts say that this will make flats in future projects costlier. A panel ministers decided that the new rate for land acquisition would be Rs 75 lakh per acre as the earlier rate of Rs 25 lakh was too low against the market rate.

Morgan Stanley ties up with Aparna group

Morgan Stanley Real Estate has tied up with the Hyderabad-based Aparna group for a high-end housing and commercial development project in the southern Indian city. They said the 50:50 venture would develop Aparna Laketown in Nalagandla, Hyderabad, covering 12 million sq ft.

DLF, Prudential float mutual funds

The joint venture, called DLF Pramerica Asset Managers Pvt Ltd, marks the entry of Prudential into Indian market. This JV will offer a wide choice of mutual funds and investment products to Indian consumers starting next fiscal year. While DLF has 39% stake in the venture, Prudential will have the rest 61%.

Build a house from crap, courtesy Sulabh

Doors and window planks made of human faeces instead of wood has become a possibility! Sulabh International has succeeded in developing a strong raw material out of human waste. Mexico-based designers Santiago Sierra and Mariana David have designed doors out it. The doors have been put on display at the Lisson Art Gallery of London. The exhibition of these human excreta-based doors was inaugurated on November 29.

Rewari to be at par with Gurgaon

After two years, Rewari will be at par with Gurgaon. The Haryana Government has decided to complete all the development work here in the next two years. Work was already in progress here on development projects worth over Rs 536 crore.
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Greater NOIDA Turns 18; Residents say Dreams Shattered

The residents say that though the development agencies have put the Taj expressway and airport on the fast track, it has always been interested in the new projects and has no interest in developing the civic amenities.

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Ansal API Forays into Education with Educomp

This realty major has tied up with e-learning service provider Educomp Solutions to build schools in townships being developed by the realty major, emulating a model that has already become popular in some other parts of world. Ansal will build the schools and Educomp will manage them.

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