Category: General

The Tallest Residential Buildings Are Coming Up In Hyderabad

General | By mahendra | 2008 Trackbacks (0) Comments (1)   

Some of the tallest residential buildings in the country are coming up in Hyderabad. The Aliens Group is constructing 13 30-storied residential towers at Tellapur near Gachibowli while Bharat Infratech has taken up the Iconia project, which will have 18 20-storied residential high rises offering duplex flats. Many such high-rises will dot the skyline of Hyderabad in the next three years because of the relaxation given by the high-rise committee of Hyderabad Metropolitan Development Authority, which has carved a separate skyscraper zone around city. Flats in these huge residential towers will offer ultra-modern facilities with swanky interiors and will be priced between Rs 75 lakh and Rs 2.5 crore. There will be around 2,200 flats in the Aliens Space Station, which will be spread over 20 acres and Iconia will have 1,500 flats in 21 acres. The projects are being built in phases and will be completed in the next three years. Realty experts say that the city will witness unprecedented vertical growth in the coming years.

“Where’s the space for independent houses in the city?” asked Mr Alluri Sitarama Raju, chairman of Bharat Infratech. “People are moving to the outskirts and apartment complexes work out cheaper than villas. High-rises are a good option.” High-rise apartment buildings are a common feature in all developed countries. “Even smaller countries such as Hong Kong, Singapore and Malaysia have huge high-rise apartments,” said Mr Raju. Mr Challa Hari, managing director of Aliens Group, said that people also insisted on living in serene environments these days. “People are tired of pollution of all kinds — air, sound and water and they are even moving away from the commercial hub for calmer environs,” said Mr Challa Hari, managing director of the Aliens Group. To feed this need, realty firms leave lot of space for greenery in luxury communities.

“Of the total 20 acres, the building will come up only in the 20 per cent and there will be lot of greenery in the remaining space,” said Mr Challa Hari. Developers have also hired world renowned consultants to take up the real estate projects. The Iconia project is conceptualised by Atkins of UK, which created the world-famous hotel Burj Al Arab in Dubai. Further, the living spaces are designed by DWP of Thailand and accessories are provided by Kohler of the United States. Landscaping is done by SCI of Singapore and the apartments are serviced by Jones Lang Le Salle Meghraj, expert in facilities management. Similarly, the Space station project has hired UK-based SMC Alsop as architect and design consultant. Experts have also been hired for smooth flow of traffic inside the premises.

For latest developments in Hyderabad visit 

<a href="" rel="me">Technorati Profile</a> 

Govt Allots Seven Acres To Health City

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

With the proposed 200-acre health city ‘Elixir’ at Ameenpur landing in legal wrangles, the state government has proposed another health city at Gachibowli. It has allotted seven acres land for medical institutions. The revenue department recently sent a memo to the Hyderabad Metropolitan Development Authority (HMDA) informing it of the allotment of land to the medical institutions. To begin with, four acres of land has been allotted to three institutions, two acres to Asian Institute of Gastroenterology, one acre each to Rainbow Children’s Hospital and Max Vision Eye Care Hospital. The land has been given at survey no. 136 of Gachibowli village in Serilingampally mandal in Rangareddy district. The revenue department said the health institutions would provide state-of-the-art facilities to patients.

It asked the Rangareddy district collector to hand over advance possession of land to HMDA immediately. The HMDA will collect market value fixed by the government from the medical institutions for the land. “We have not given up the ‘Elixir’ city proposed at Ameenpur. Due to some land problems, we have put the project on hold,’’ a senior HMDA official said. The erstwhile HUDA had proposed ‘Elixir’ for medical tourism in 200 acres. HUDA had studied Dubai Health City to develop Elixir on the same lines. Apart from this project, Pentagon in 200 acres at Poppalguda near Gachibowli, Giga city in 2,000 acres for IT & knowledge destinations beyond Secunderabad Cantonment area were proposed. BITS Pilani has already come up in the area. Menefer, a mini township, at Budwel in 200 acres, Regal Broadway project in 150 acres next to Hyderabad International Airport and Calibre SEZ proposed at Kokapet for IT and IT Enabled Services in over 100 acres were proposed by the HUDA. However, most of these projects were shifted due to legal and other problems. The hotel corridor, Regal Broadway, was shifted to Budwel as the proposed site at Shamshabad is in the catchment areas of Himayatsagar and Osmansagar area. Pentagon city was shifted from Poppalguda to other area as it is in a heritage precinct.

For more details visit 


Fairmont Hotels &Amp; Resorts Debuts In Hyderabad

General | By mahendra | 2008 Trackbacks (0) Comments (1)   

Fairmont Hotels & Resorts has been appointed to manage a hotel in Hyderabad, in the capital city of the Indian state of Andhra Pradesh. The property joins the company's collection of landmark hotels as the first Fairmont property to be announced in India.Opening in 2010, the Fairmont Hyderabad will feature 350 rooms and suites offering an elegant and relaxing atmosphere. Sustainable design will be a hallmark of the hotel, echoing Fairmont's commitment to responsible tourism. A variety of restaurants and bars will reflect the flavors of the destination and its rich tradition of culinary entertainment for both travelers and local residents to enjoy. A wide range of meeting and function space can accommodate groups of varying sizes, including a ballroom for up to 800 people, while recreational facilities include a pool and a Willow Stream Spa.

The hotel, embodying Fairmont's spirit of hospitality for more than a century, will serve as a welcoming destination for guests as well as members of the local community as they meet, celebrate or commemorate special occasions.The hotel is conveniently located near the growing business development area of the city, dubbed Cyberabad, a modern information technology and bio-technology hub and home to some of the most recognized brands in the world. The historic city of Hyderabad, which dates back more than 400 years, is known for its rich history, culture and architecture including temples, palaces and gardens. Uniquely positioned at the meeting point for North and South India, the destination attracts both leisure and business travelers. Called the city of pearls, Hyderabad is home to products locally hand-crafted and traded for centuries, such as silverware, saris, bangles and handloom-based clothing. Fairmont is partnering with MMVL Hotels Pvt Ltd., a subsidiary of the Maheshwari Group, a The real estate leader in Hyderabad. "We are very pleased to introduce the Fairmont brand to India," stated Girish Mallpani, CEO, Maheshwari Group.

"The company has a strong record of respecting and embracing the history and environment of their communities, and will deliver not only high standards of product and service but a distinctive and welcoming hospitality which celebrates our rich culture." Thomas W. Storey, President, Fairmont Hotels & Resorts said, "Announcing this development, our first in India, is an exciting milestone for our company. From the opening of our flagship hotel The Fairmont San Francisco in 1907 to planting a flag in this rapidly developing, global high-tech center, it's been an incredible journey in hospitality and we look forward to providing rich travel experiences for our guests in our newest destination." Fairmont Hyderabad joins a number of recent announcements across the globe, including Fairmont Zimbali Lodge, South Africa; Fairmont Roco Ki, Dominican Republic; Fairmont Zanzibar, Tanzania and Fairmont Beijing.

fot more Major developments in Hyderabad log on to 

Real Estate Developers Foresee High Growth

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

According to an Ernst & Young survey on real estate developers titled ‘Realty Pulse', a majority of developers foresee the Indian real estate sector embarking on a high-growth trajectory in the long-term, despite the momentary slowdown witnessed over the last 12 months. The qualitative survey conducted by Ernst & Young across six prominent cities comprised of NCR, Mumbai, Pune, Hyderabad, Chennai, Kolkata and Bangalore and forms a part of the FICCI-Ernst & Young Real Estate Report.

The survey reveals that a vast section of respondents is inclined to venture into affordable housing, if certain enablers like government support, basic infrastructure and low-cost land are made available. Almost 35 per cent of the developers define the capital value of affordable housing in the range of rupees 1 to 1.5 million, followed by another 35 per cent of developers who define the value in the range of rupees 1.5 to 2.5 million. 70 per cent of the respondents indicated an inclination to expand beyond the ‘obvious eight' cities, viz, Delhi, Mumbai, Chennai, Hyderabad, Bangalore, Kolkata, Pune and Ahmedabad.

Dr Amit Mitra, secretary general, FICCI, said, "The release of this report at the FICCI International Real Estate Summit will fuel ideas and opportunities while addressing industry challenges and showing the way forward to take the real estate sector to greater heights."Ganesh Raj, partner and leader, Real Estate Practice, Ernst & Young said, "This report is an attempt to bring forth the views and common beliefs of industry stakeholders, while making an attempt to mitigate their concerns. The temporal slowdown in the market will be followed by sustained activity as a result of innovative formats, new geographies and flexible pricing / delivery mechanisms."

The report, to be released at FICCI's International Real Estate Summit in Mumbai on September 10, 2008, underlines the survey respondents' belief that genuine end-users have ‘taken over' from investors and account for 80 to 90 per cent of sales in their current projects.The respondents expressed mixed reaction with regard to land valuation. Most of them seem to be reaching the consensus that land values are likely to see stability over the short to mid-term period and may not witness any appreciation over the next 12 months.In fact, in some of the cities further price correction is expected owing to the changing economics. The present asset class focus for developers continues to be residential, as stated by 70 per cent to 80 per cent of the respondents, followed by commercial and retail. However, going forward, several ‘neo-assets' like ware-housing, healthcare infrastructure and logistics will emerge as an integral part of the developers' future portfolio.

for more real estate updates log on to 

PBEL India To Build 1200 Cr Township Project In Hyderabad

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

Hyderabad-based real estate developer PBEL India plans to build a township in the city at a cost of Rs 1,200 crore. Christened PBEL City, the township will comprise of 13 residential and two commercial towers. PBEL City, a joint venture between PBC and Electra Real Estate, both from Israel, and Incor from India, will come up in Rajendranagar on the outskirts of Hyderabad. Addressing the media, project executive director Anand Reddy said that PBEL City was the company's first offering in Hyderabad. It has spent about Rs 200 crore on the project for purchasing the land and creating infrastructure.

The company will raise the funds from internal sources and through banks. In the first phase, to be completed in 18 months, the project will have 500 units with a built-up area of 1,050-1,600 sft. While the second phase will be ready in 24 months, the third phase will be completed in 36 months. The units will be priced between Rs 40 lakh and Rs 55 lakh each, Reddy said. The company is planning mega projects across the city and in other parts of the country. Over the last couple of months, PBEL had bought about 110 acre worth Rs 500 crore across various cities. Currently, it is focusing on Hyderabad, Chennai and Mysore, and plans to spend about Rs 4,700 crore over the next three years.

for more real estate updates of hyderabad 


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.

for more details visit         

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.

HMDA In A Fix Over Building Permits

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

Officials of the newly formed Hyderabad Metropolitan Development Authority (HMDA) are in a dilemma about whether HMDA can issue building permissions in its jurisdiction. The confusion is due to two contradictory clauses incorporated in the HMDA Act on building permissions. Apart from the new applications coming in, over 1,000 applications are pending. These were received by HUDA, Cyberabad Development Authority and Hyderabad Airport Development Authority, which were abolished by the state government following the formation of HMDA.

As per the clause 8 of the HMDA Act, the metropolitan development authority does not exercise day-to-day control which includes building approvals and building enforcement in any development area for any matters which are under the purview of the local authority. The metropolitan authority can intervene in the matters pertaining to the overall development of the metropolitan region. Contradicting the clause, another provision 20 (1) in the Act says any person intending to carry out development on any land has to apply in writing to the metropolitan commissioner for development permission by submitting all the required documents.

In the Hyderabad Urban Development Authority (HUDA) regime, officers used to give permissions for three and more floors including multistoreyed buildings in the HUDA region. The surrounding municipalities and gram panchayats used to give permissions up to ground+ two floors. In the GHMC area also, while all 18 circles offices including surrounding circles are clearing building applications up to G+2 and GHMC headoffice is dealing only multi-storeyed buildings. “There is a confusion over powers to give building permissions in the HMDA Act. But we will continue to accept building applications. The HMDA board will take a decision on this,” a senior planning official of HMDA told ‘TOI’ on Friday. Sources said that as per the 52 (1) of the Act, the HMDA can delegate powers to all the local bodies in HMDA jurisdiction for giving building permissions up to G+2 and retain powers to sanction permission three and above floors as it was in HUDA. Now there are two municipalities.Bhongir and Sangareddy and 849 villages in its jurisdiction.

For more updated news 


AP Collects Higher Stampduty Than Many Other Sataes

General | By mahendra | 2008 Trackbacks (0) Comments (1)   

Stamp duty and registration fee imposed by the state government during property registrations have become a major burden on the buyers. Andhra Pradesh has the distinction of collecting higher stamp duty and registration when compared to some of the major states. Currently, the state collects 9.5 per cent towards registration charges, which includes nine per cent stamp duty and point five per cent registration fee. While the other states were adopting different stamp duty structures for urban and rural areas, in our state, the disparities have been abolished in 2005 and a common duty structure was being implemented. Maharashtra collects only 5.5 per cent stamp duty.

Earlier it was 8.5 per cent. Uttar Pradesh has been offering more incentives to women. If a property is registered on the name of a woman, it is collecting only 6 per cent stamp duty, which has been reduced from 8 per cent. Even for men, it is only collecting 7 per cent, which has been cut down from 10 per cent. While states like Rajasthan were collecting only 6 per cent stamp duty, Karnataka and West Bengal were adopting different tax structures for urban and rural areas. West Bengal is imposing 6 per cent stamp duty for transactions in villages and 8 per cent duty for towns. This is in addition to 1.1 per cent, which is imposed as registration fee.

The state government had earlier announced that it will cut down stamp duty by 1 per cent every year so as to reach the target of 5 per cent by 2012 from the current 9.5 per cent. As per this, it has to cut down the stamp duty by 1 per cent this year, but still nothing has been done on that front. However, according to officials of revenue department, the chances of reducing stamp duty in the state are meagre as the state government is heavily dependent on the revenues generated from the revenue department through land and property transactions to fund its massive populist schemes announced in the election year. The heavy stamp duty is leading to irregularities during registration. Several buyers are resorting to under-valuation of property to escape from huge stamp duty while sometimes it is leading to evasion of registration charges. Several buyers, particularly in rural areas are entering into illegal sale agreements to avoid duty by entering into agreements on a ‘plain paper’.

Koneru Ranga Rao committee, which was set up by the state government to initiate land reforms has estimated that nearly 20 lakh property deals are ‘illegal’ as they were entered on a mere ‘plain paper’ and out of this 82 per cent buyers are from poor and rural background. While the other states were reducing stamp duty and increasing their revenues, the state government has been increasing duty on General Power of Attorney (GPA) to force people to opt for registrations instead of GPA to increase its revenues. While other states were reporting good results with reduced stamp duty, the revenue generation of AP was stagnated for a while now, despite increase in stampduty. However, Karnataka is the exception in the list of the states, which collects lower stamp duty. It collects more than our state. It follows dual duty structure. While in Bengaluru, it is imposing 12 per cent stamp duty, for the rest of the areas it is 11 per cent. Tamil Nadu is imposing registration charges at 9 per cent.

for more real estate updates of hyderabad log on to 

Land Prices On Outskirts Likely To Shoot Up

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

Land price are set to rise in the 849 surrounding villages of the city with the formation of the Hyderabad Metropolitan Development Authority (HMDA). These villages were merged with the HMDA.Anticipating this, real estate players have already jacked up rates in some newly included areas of the HMDA. For instance, in Wargal mandal of Medak district about 50 km from the city the land price was Rs 1 lakh per acre until last year. But now the going rate is about Rs 10 lakh per acre.Similarly, the land values have sky-rocketed in neighbouring mandals like Shamirpet and Medchal in Ranga Reddy district, where the prevailing price is about Rs 2000 per square yard. Until last year, it was just about Rs 800 to Rs 1,000 per sq yard."The HMDA should concentrate on providing infrastructure in the surrounding areas, only then will the very purpose of forming a highest authority be served," city based architect D T Vinod Kumar told 'TOI'.

The HMDA had approved about 30 layouts in the last few months and another 70 are at different stages of preparation. Realty companies are selling plots claiming land prices would increase further in the metropolitan development area. Even officials concur that the land prices would eventually increase in HMDA area."Layout developers have to pay various charges, including development fee, to get approval. This will have an impact on land prices,'' a senior HMDA official said.After the formation of the HMDA, all other urban development authorities like Buddha Purnima Project Authority, Cyberabad Development Authority and Hyderabad Airport Development Authority have been abolished.

The HMDA covers Greater Hyderabad Municipal Corporation (GHMC), Sangareddy municipality, Bhongir municipality and 849 surrounding villages. The boundaries of the Hyderabad Metropolitan region have been fixed. In the north, its jurisdiction will extend up to Islampur village, Shadnagar in south, Bhongir municipality in east and Sangareddy municipality in west.In terms of area, the area of HMDA would be 7,073 square kilometres, including GHMC's jurisdiction of 625 sq km, 13.60 sq km of Sangareddy municipality, 96.30 sq kms of Bhongir municipality and 6337.70 sq km of 849 villages.

As of now, there is no master plan for the extended area of HMDA. The task of preparing a master plan for the extended area has been entrusted to the Centre for Environmental Planning, Ahmedabad. The HMDA is likely to issue orders in a day or two. It would prepare the master plan in 18 months."With the formation of HMDA, the entire metropolitan region will develop in a planned manner. Already sanctioned projects will be better integrated. The region will also attract more investments,'' HMDA secretary D Rama Rao told 'TOI'. For the convenience of people, the HMDA has proposed zonal offices at Kokapet, Kompally, Ghatkesar and Shamshabad. One more zonal office is yet to be decided. Apart from these zonal offices, 10 service centres are being proposed at Chevella, Sangareddy, Narsapur, Shamirpet, Keesara, Bhongir, Ibrahimpatnam, Pochampally, Maheshwaram and Kothur.

you visit the complete list of land prices in varioues areas in hyderabad 

Greater Hyderabad Is India's Second Largest Metropolitan Area

General | By mahendra | 2008 Trackbacks (0) Comments (1)   

Greater Hyderabad, which has become the second largest metropolitan area in India, will be developed as a world-class city and a model metropolis in the country

said Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy Sunday.He asked officials of the newly constituted Hyderabad Metropolitan Development Authority (HMDA) toensure a scientific and regulated development in the metropolitan region.Last year 12 municipalities and several villages of the five surrounding districts were merged with Hyderabad to make it Greater Hyderabad. HMDA was formally constituted Saturday replacing Hyderabad Urban Development Authority (HUDA).The chief minister Sunday launched HMDA and laid foundation stone for the central office of the new body, which will have jurisdiction over an area of 6,856 square km, making it the second largest metropolitan area in the country after Delhi.The jurisdiction of the earlier body was 2,000 square km.

The population coverage has alsoincreased from 6.5 million to 7.8 million.The government issued orders posting Indian Administrative Service officer K.S. Jawahar Reddy as the metropolitan commissioner.The jurisdiction of HMDA covers 54 ‘mandals' (administrative blocks) in the five districts. It includes 16 ‘mandals' of Hyderabad, 10 of Medak, 22 of Rangareddy, two of Mahbubnagar and four of Nalgonda districts. As many as 849 villages of four districts were merged with Hyderabad.As the city is growing by leaps and bounds thanks to the IT boom of last one decade and consequent economic activity, the government felt the need to merge the surrounding municipalities with the capital region to ensure planned development and provide better infrastructure.

The new international airport at Shamshabad, about 30 km from the city, the ongoing world-class 160-km Outer Ring Road (ORR) project, mega townships along the ORR, over 30 IT Special Economic Zones (SEZs), major real estate projects, new campuses of IT and biotechnology majors, metro rail and other infrastructure projects areexpected to give further impetus to the growth.The chief minister asked officials to ensure that there was no deviation from the approved plans for any construction activity. He assured that the government would take all steps to provide better road connectivity, 24-hours water and electricity supply and other infrastructure to all the areas fallingunder metropolitan region.The missions of HMDA include promoting active participation of citizens in the process of planning and implementation of development plans, improve quality of life through planned growth and development and contribute to the creation of a cleaner and greener city.

For more news updates visit 

Current Mood: happy

Trump Launches $1b Indian Hedge Fund

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

Donald Trump Jr. - the son of the brash American real estate tycoon and reality-TV star - appeared at the high-profile Cityscape India 2007 real estate conference in Mumbai to give a speech on the subcontinent's booming property market. Trump, the executive vice president of development and acquisitions at New York-based Trump Organization USA LLC, said India's red-hot economy has fueled demand for more residential development, particularly luxury housing, but also hotels and resorts for the country's flourishing tourism industry. Before he departed, Trump indicated his desire to invest in India's real estate sector, and hinted that he wouldn't wait long to do so. "We feel it is now time to invest in Indian realty projects as the quality has moved up and we see emergence of some high-end developers with a product level that will support our brand," he said in his speech.

It appears that time is now: Trump announced in late July that he intends to set up a hedge fund worth up to $1 billion to invest in Indian real estate. Accordingly, the privately held fund would initially target property in Mumbai and also include an Indian family as investors. Thirty year-old Trump did not give specific details about the fund, such as how he plans to raise the money, or where the first investment would be made. But in an interview with New York-based media company Bloomberg LP, he did say that it would start conservatively and expand as the opportunities presented themselves."The fund will be for acquisitions of real estate in the high end and across the spectrum," Trump said. "We'll start it off relatively small and grow it as we get more familiar with the Indian market. Our entry has to be in Mumbai, and that's where everything is going on right now in terms of the high-end real estate. That's the place where one is going to achieve the highest prices per square foot. It sets the tone for all of the other future developments."Trump eschews investing in India's smaller and less-affluent cities - he stated publicly at Cityscape India 2007 that he has no intention of entering the middle- or low-income segment because "the best is in the high-end sector." When asked at the conference which cities Trump Organization would consider for business deals, Trump responded, "Certainly, the city I'm standing on (Mumbai), Delhi, Hyderabad and Bangalore, where the IT sector has witnessed a boom."


Trump Organization USA announced plans to launch a $1 billion hedge fund to invest in Indian real estate. Donald Trump Jr.'s interest in the Indian real estate market was sparked in 2007 when he visited the subcontinent for the Cityscape real-estate conference in Mumbai.

Quote: "We'll start it off relatively small and grow it as we get more familiar with the Indian market," Trump Jr. said. India's personal wealth has exploded in recent years. According to the World Wealth Report 2008, issued June 24 by New York-based financial giant Merrill Lynch & Co. and Paris-based consulting firm Cap Gemini SA, the number of Indians with financial assets in excess of $1 million grew by nearly 23 percent in 2007 alone, surpassing China's 20 percent growth and Brazil's 19 percent increase."India led the world in [high-net-wealth individuals] population growth at 22.7 percent, driven by market capitalization growth of 118 percent and real [gross domestic product] growth of 7.9 percent. Although India's real GDP growth decelerated from 9.4 percent in 2006, current levels are considered more stable and sustainable. India's two largest exchanges - the Bombay Stock Exchange and the National Stock Exchange - ranked among the world's top 12 exchanges by end of 2007, boosted by initial public offering markets and heightened international interest," the report stated. In an effort to tap this local wealth, Trump Organization is moving forward with plans to build a luxury residential and hotel project in Mumbai, announced last year. The company picked this west-central coastal city of 13 million because of its

status as an international center of commerce and India's commercial and entertainment center: Mumbai generates some 5 percent of India's gross domestic product and accounts for nearly one-quarter of its industrial output. It is also home to such important financial institutions as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India and the corporate headquarters of many of India's largest companies and numerous multinational corporations.Yet, Trump will also be entering India at a time when rising inflation has nudged borrowing costs to their highest levels since 2002, effectively curbing the country's five-year property boom and sending valuations for many projects downward. Nationwide, inflation rose 11.98 percent in the year ending July 19, which prompted the Reserve Bank of India to issue new policies aimed at curbing the trend. Still, interest rates on home loans have continued to creep upward by 1-to-1.5 percentage points, from around 10.5 percent to 12 percent annually. Many analysts expect inflation to remain at current levels, if not higher.

"We expect headline inflation to possibly cross 13 percent levels. With inflation likely to remain in the double-digit range for the next few months and supply-side measures not really being effective in bringing inflation down, we expect the Reserve Bank of India to continue to raise rates to temper demand-side pressure," Citigroup India economists Rohini Malkani and Anushka Shah said in a July research note.The younger Trump's plans to launch the $1 billion Indian real estate fund reflects Trump Organization's push to expand globally. The privately held company - which does business in a variety of real estate sectors, including residential properties, hotels, office, golf clubs, as well as gaming and merchandising entertainment - plans to develop a pair of mixed-use projects in Istanbul, Turkey, and Dubai. The Istanbul project, which Trump Organization announced in April, will

consist of two towers and a luxury shopping center, while in Dubai, the company has partnered with local developer Al Nakheel Properties to build the $600 million, 62-story Palm Trump International Hotel & Tower on the trunk of the Palm Jumeirah.One of the world's most recognizable manmade landmarks, Palm Jumeirah, an artificial island shaped like a palm tree off the Dubai coast. It was built by Nakheel and is owned by the Emirate government. Trump Organization already has properties in Dominion Republic, Seoul, Toronto, Panama, and Mexico.If the company succeeds with its plans for India, it will joint various other real estate and financial-services firms that in recent years have invested vast sums of money in the Indian property market. The list includes:

*Lehman Brothers Real Estate Partners LP, which recently invested $175 million in a Mumbai real estate development that is being built by Gurgaon-based construction firm Unitech Ltd., and is in talks with Unitech to invest an additional $525 million in the project.

*RREEF India Advisors Pvt. Ltd., an India-specific alternative-investments business launched in April by Deutsche Bank AG's New York-based alt-investments subsidiary, RREEF Alternative Investments. Headquartered in Mumbai, RREEF India Advisors plans to invest $1 billion in Indian real estate and infrastructure projects over the next three years, beginning with a  31-acre, $400 million mixed-use development outside of Hyderabad.

*JPMorgan Chase & Co., which acquired a 4-percent stake in New Delhi-based real estate developer BPTP Ltd. earlier this month for $60 million. The New York-based financial giant previously invested in Lodha Group, a Mumbai-based commercial real estate developer.

for more information log on to 

HUDA Changes Plot Sale Norms In Hyderabad

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

The Hyderabad Urban Development Authority has been forced to revert to its earlier mandate of forming layouts and auction individual plots to people. With big developers showing no interest in buying land in bulk from HUDA, the Chief Minister, Dr Y.S. Rajasekhar Reddy, directed the agency to develop layouts on its own. Official sources said a decision in this regard was taken at a high-level meeting on resource mobilisation on Tuesday. The move is likely to provide some relief to people as they can buy plots at rates cheaper than the ones developed by private agencies. The slump in the real estate market had its worst effect on the state’s plans to mobilise funds by selling its land in July. Though Rs 715 crore was realised out of the targeted Rs 790 crore, HUDA contributed Rs 500 crore by mortgaging its land.

The Andhra Pradesh Industrial Infrastructure Corporation, for the first time, fell Rs 200 crore short of its target of Rs 300 crore while the AP Housing Board’s contribution was also not up to the target. Sources said the principal secretary (finance), Mr I.Y.R. Krishna Rao, suggested the formation of layouts and development of infrastructure besides sale of these plots through auctions. The Chief Minister is believed to have suggested that the size of each plot could be between 500 sq. yds and 1000 sq. yds. The Chief Minister also expressed displeasure over the fact that the agencies repeatedly showed court cases as an excuse for the slowdown in sales. He asked the officials to engage efficient lawyers as standing counsel and end litigation as soon as possible.

for more details log on to 

Credit Suisse Invests $100m In Real Estate In Hyderabad

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

In one of the largest private equity deals in the real estate sector this year, financial services major Credit Suisse has invested $100 million (about Rs 430 crore) in Hyderabad-based Indu Projects for a minority stake.Indu Projects is a leading name in the construction and real estate sector in Andhra Pradesh in which, about two years ago, Citigroup's private equity arm had invested about $50 million.Since the stock markets went into a tailspin at the beginning of the year with real estate companies among the worst hit deals in the sector have dried up. In this deal, Credit Suisse invested directly in the company, and not through a special purpose vehicle in one or more projects which is more common in this sector now, sources said.Indu Projects, an eight-year-old company, is promoted by Shyam Reddy, who was earlier associated with IVRCL Projects, also a construction and real estate major. Indu Projects is currentlyassociated with, among others, the construction of an IT park in Hyderabad, a real estate project in Pune and also with construction of a Tata Power project.

The company also executes government contracts and is planning to foray into power sector in a big way.Sources said this is among a series of investments made by Credit Suisse with the deal team comprised of industry veterans Hemang Raja, Gaurav Kumar, Nikhil Bhatia and Sameer Nair. Avendus was the investment bankers to the transaction. Real estate consultancy major Jones Lang LaSalle are the advisors to the company on its several real estate projects.Industry players said post the recent debacle in the stock market, private equity/venture capital funds evaluating real estate companies for investments are looking at firms with good management, clear land bank, and strong execution and development capabilities. But there are very few companies that make the cut, a person associated with the Credit Suisse-Indu Projects deal said.

For more information log on to 

Deadline For Land Regularisation Set For Aug 31

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

The deadline for regularising encroachments on government land will end on August 31 and there will be no further extensions, chief commissioner of land administration (CCLA) Deepak Kumar Panwar said here on Monday. Addressing a press conference, he said applicants can pay the penal amount in four instalments. The commissioner said 98,000 applications for regularisation have been received since February 2008 after the regularisation GO was issued. He said another lakh applications were expected in the next 20 days and this scheme would fetch about Rs 250 crore revenue to the government towards penal amount. Panwar said the applications could be submitted at the mandal revenue offices, revenue divisional offices and collectorates. "Of the total, 67,000 applications were received only in Hyderabad and RangaReddy districts,'' he added. The GO would be applicable for un-assigned land occupants and people who occupied governmentland prior to December 31, 2003. He said unlike earlier schemes, only six types of documents like electricity bill, telephone bills, registration document, water bills would be accepted as evidence for occupation. Panwar said the existing disputed land would also be cleared if persons come forward for withdrawal of court cases. Bulk applications cannot be accepted and only individual and cooperative society applications would be accepted, the CCLA chief said. He said below 80 square yards land occupied by below poverty line families would be regularised at free of cost without alienation.

you can get the complete list of registration offices in Hyderabad 

for more information about hyderabad real estate log on to 

Current Mood: Cool

mahendra's blog is proudly powered by, the largest portal for Hyderabad, India.
Design by LifeType and N Design Studio.