Andhra Pradesh Sanctions Land To Private B-Schools

General | By mahendra | 2008 Trackbacks (0) Add comment   

Premier private management schools are keen to set up campuses in Andhra Pradesh. The Andhra Pradesh government is understood to have allotted land to three private B-schools to set up campuses in Hyderabad. The B-schools include the Institute of Management Technology (IMT), Ghaziabad.IMT, which already has a centre in Nagpur other than Ghaziabad, is planning to open its third centre in India. It has been allotted 30 acres of land near the new international airport in Shamshadabad. The institute intends to invest over Rs 35 crore in setting up its campus, which will be operational in 2010. The campus will start with a strength of about 120 students in each batch. The faculty number will be around 20.

Anwar Ali, director, IMT, Nagpur, said: "The Andhra Pradesh government had extended invitation to many private B-school in the state following which we had evinced interest. We have got the land last week and will soon start building up the required infrastructure for the campus." He said a centre inHyderabad will give the institute a base in South India.IMT also plans to open a campus in Karnataka. Considering the high real-estate prices in Bangalore, Mysore is being considered.The investment required for the IMT Hyderabad campus will be funded by the institute from internal accruals. If required, the institute is also thinking of raising funds through bank loans. In 2004, IMT opened its second centre in India, in Nagpur. The centre, located in 26 acres, has intake capacity of 300 students.

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Luxury Homes Continue To Dazzle On Robust Demand

General | By mahendra | 2008 Trackbacks (0) Add comment   

Even in the midst of low sentiments haunting the real estate sector, there is one segment that is totally unfazed by it all. Luxury homes continue to dazzle in the face of robust demand and keen investor interest in the segment. Royal offerings doled out one after the other by real estate developers show that at least one buyer category has remained as loyal as before, the luxe home buyer.SundayET commissioned a survey to global real estate consultancy Cushman and Wakefield (C&W) to find out some top-of-the-line luxury offerings coming up in the five major cities of Delhi, Mumbai, Bangalore, Hyderabad and Chennai.

And here's what we found. While the new luxury apartments in Delhi-NCR were valued at over Rs 10 crore, in Mumbai it easily crossed the 20 crore mark for a 4 BHK. It also found that among the new constructions around the National Capital Region (NCR), properties in Gurgaon commanded a premium, while sea-facing locations in the financial hub attracted the richie rich.Lavelle Road in Central Bangalore was much sought after as a luxury buy. And while Spanish villas in Hyderabad made an opulent statement, it were the spacious independent houses in Chennai that were the new luxury abode. In the survey, we included both projects which have been announced recently or the ones which though announced earlier were only getting ready now.

Delhi NCR, in itself has at least seven extremely high-end projects. Top corporate honchos, expatriates and high networth individuals (HNIs) dominate DLF's Magnolias located in DLF Phase V, Gurgaon. The apartments, which will be ready in 1-2 years can go up to a whopping Rs 10 crore with the average size of an apartment at roughly 5,500-10 ,000 sq ft.Attractive rental potential and substantial increase in capital values since 2005, the locational advantage of the golf course and improved connectivity via the operational Delhi-Jaipur 8-lane super expressway are some of the USPs of this project. Says Rajeev Talwar, executive group director, "Luxury apartments are taken up by actual users so demand will always remain.... Anyone who is buying such an apartment does so keeping a variety of factors in mind. Moreover, these are bought by those who have a surplus."

Another project in Gurgaon, Ambience Group's upscale Caitriona project, located in Ambi City NH-8 Gurgaon, will be coming up in 2-3 years and is priced at a royal 8 crore plus tag. Boasting of sevenstar living, it is located amidst the 150-acre Ambience Island premium integrated township.Caitriona offers limited condominiums for a select few. A great golf course view, super premium international designing and complete furnishing for a ready-to-live-in condominium, Caitriona flaunts snob value all the way.Vipin Agrawal, executive director of Omaxe, feels that the current market scenario will have little effect on this segment. "Luxury homes are always in demand. Top CEOs and businessmen are the main occupants here. Hence, whatever be the market dynamics, there will always be an active demand for such projects." The realtor has a luxury project, The Forest, adjoining the Noida-Greater Noida Expressway, which sold for Rs 6,500/sq ft.

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