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Real Estate Update
Park Inn opens
Sarovar Hotels & Resorts recently inaugurated Park Inn
in Jaipur.
The hotel offering 70 guest rooms, a multi-cuisine and a rooftop
restaurant, also houses a business centre and a health club.
Sarovar is the leading hotel management company in India.
The company manages and franchises 35 hotels and resorts across
29 cities in India and overseas under Sarovar Premiere, Sarovar
Portico, Hometel, Park Plaza and Park Inn brands. The brands
cover 3-5-star hotels.
Contact: Sarovar Hotels & Resorts
Tel: 022-6635 0800. Fax: 022-6635 2766.
E-mail: mumbai.sales@sarovarhotels.com
Website: www.sarovarhotels.com
First phase of RDB Sonarpur project by December 2009
The first phase of the residential project of RDB Developers
over 50 acre at Sonarpur will complete by December 2009. It
has been developed with an investment of Rs 50 crore and comprises
176 apartments in six blocks. The company recently announced
a Nano free with every first batch of 50 flats purchased at
the project
Contact: RDB Industries Ltd
Tel: 033-2230 5666. Fax: 033-2242 0588.
E-mail: info@rdbindia.com
Website: www.rdbindia.com
Parsvnath stalls 11 SEZ projects
Parsvnath Developers has stalled 11 of its SEZ projects to
cut its debt by a quarter by the end of this fiscal. It plans
instead to focus on completing existing projects and also
launch some new projects in Saharanpur.
The developer, which restructured Rs 800 crore of debt last
year, plans to repay Rs 400 crore debt to banks and financial
institutions. The debt will be repaid through internal accruals
or from the large outstanding receivables in various projects.
Contact: Parsvnath Developers Ltd
Tel: 011-4368 6600. Fax: 011-2331 5400.
E-mail: mail@parsvnath.com
Maytas Infra to divest projects
Maytas Infrastructure is planning to divest some of its projects
nearing completion in order to raise funds to complete other
assignments. The company is currently implementing around
40 projects.
Contact: Maytas Infra Limited
Tel: 040-2340 8100. Fax: 040-2340 1107.
Website: www.maytasinfra.com
DLF to launch mid-incomeprojects
DLF, whose net profit has fallen 93 per cent in the fourth
quarter of 2009 due to slowing sales and price cuts it offered
to customers, is planning to generate liquidity by launching
more mid-income housing projects in Kochi, Bengaluru and Hyderabad
and also divesting stakes in some of its hotel projects. The
company currently has 41 hotel projects, out of which nearly
22 are under construction in various parts of the country.
Contact: DLF Ltd
Tel: 0124-433 4200. Website: www.dlf.in
CHD Developers announces unique schemes for new project
CHD Developers, which recently launched CHD plaza, a commercial
complex at its Rs 1,000-crore mega project CHD City in Karnal,
has announced two unique schemes for encouraging buyers to
purchase properties in the project. The first of these schemes
includes a guaranteed assurance of compensating the buyer
with the differential amount if the market price of the shop
comes down after three years. The second scheme involves a
guaranteed return of 12 per cent on the buying price of the
properties for a period of 24 months. The project is scheduled
for completion and delivery by December 2010.
Contact: CHD Developers
Tel: 011-2610 9200. Fax: 011-2610 9600.
E-mail: info@chddevelopers.com
Website: www.chddevelopers.com
Prime Group launches housing project in Lucknow
Prime Group recently launched its 200,000 sq ft low-cost housing
project in Lucknow. The project will comprise 250 residential
units of varying sizes starting from 550 sq ft to 1,350 sq
ft. The total cost of the project, which will also entail
some commercial properties, is estimated to beRs 60 crore.
The group has also lined up similar housing and commercial
projects in Goa, Jaipur and Mumbai. In Jaipur, the group is
developing two townships.
Contact: PCI Ltd
Tel: 011-4188 8999. Fax: 011-2575 5815.
E-mail: pci@prime-pci.com
Website: www.primegroupindia.com
DLF plans residential complex in Bengaluru
DLF Limited is planning to build an 18-storey complex, named
Westend Heights in Bengaluru. The project over 86 acre comprises
19 towers (stilt+18 floors high) having 1,980 two and three-bed
room apartments ranging from 1,085 sq ft to 1,820 sq ft. The
price of these apartments ranges from Rs 21.70 lakh to Rs
33.67 lakh.
Contact: DLF Ltd
Tel: 0124-433 4200. Website: www.dlf.in
CSC Constructions launches budget homes in Bengaluru
CSC Constructions has launched three residential projects
in Bengaluru - CSC Belle at Attibele, CSC Boulevard at Devanahalli,
and CSC Belva at Sarjapur Road for providing budget homes.
The projects to be developed with an investment of Rs 25-30
crore each will have apartments in the studio, single bedroom,
two bedroom and three bedroom categories. CSC Belle will have
1,400 units ranging from 253 sq ft to 850 sq ft, CSC Boulevard
will have 480 units ranging from 290 sq ft to 1,000 sq ft
and CSC Belva will have 840 units in the 350-950 sq ft range.
Besides, the company also plans to launch six more projects
in the city in the next six weeks.
DLF quits Bidadi Satellite Township Project
Real estate developer DLF Ltd has exited from the Bangalore
Metropolitan Region Development Authority’s (BMRDA)
9,300-acre Bidadi Satellite Township Project near Bengaluru
due to the prevailing global real estate situation. The developer
had invested Rs 400 crore in the project, which has been returned
to it by BMRDA.
Contact: DLF Ltd
Tel: 0124-433 4200. Website: www.dlf.in
Marg Swarnabhoomi to complete in December 2009
The first phase of Marg Swarn-abhoomi, comprising 330 apartments
will be complete in July 2009; while the second phase comprising
360 apartments, will be complete by December 2009. The 633-acre
project of New Chennai Township Pvt Ltd, a subsidiary of Marg
Ltd, will also include two SEZs, schools, medical facilities
and shopping malls.
Contact: Marg Ltd
Tel: 044-2454 1111. Fax: 044-2454 1123.
E-mail: info@marggroup.com
Website: www.marggroup.com
Chennai to witness a spurt in hotels
Despite a 50 per cent slump in occupancies, Chennai is likely
to witness a spurt in number of hotels coming up in the city
as seven large hotels are being developed in the city. These
include the 650-room Grand Chola by ITC, a 400-room Leela
Kempinski hotel, a 330-room hotel by Grand Hyatt and Rs 200-crore,
240-room Rain Tree on Mount Road by the Ceebros Group.
Nirmal Lifestyle to set up 20 Lifestyle Cities
Nirmal Lifestyle, which recently launched its first affordable
housing project Lifestyle City in Kalyan, plans to develop
20 more Lifestyle Cities across the country. The first five
of these cities in Kalyan, Dombivali, Panvel, Pune and Indore
will be built with an investment of $5 bn.
Nirmal Lifestyle caters to the residential, commercial, retail
and hospitality segment. It offers a range of condominiums,
row houses, independent villas to special economic zones (SEZs),
malls, integrated townships, hotels, serviced apartments,
resorts and spas.
Contact: Nirmal Lifestyle
Tel: 022-2593 7000. Fax: 022-2593 7200.
E-mail: info@nirmallifestyle.com
Website: www.nirmallifestyle.com
Hotel Ronak acquires Galaxy Hotel
Hotel Ronak Pvt Ltd (HRPL) recently acquired a three star
hotel in Rajkot for Rs 3 crore from Galaxy Group. HRPL plans
to upgrade the hotel by setting up a Rs 50-lakh restaurant
and a conference hall in it. The company also plans to increase
its room capacity in future. The hotel started in the year
1979, has capacity of 35 rooms.
Consolidated Construction to execute VGN project
Consolidated Construction Cons-ortium Ltd, will execute the
Rs 70-crore residential project of the VGN Group, titled VGN
Minerva in Chennai. The 7.32 lakh sq ft project comprises
construction of 572 apartments, out of which 320 apartments
will be complete by December 2010.
Contact: Consolidated Construction Consortium Ltd Tel: 044-2466
1083.
Sabari Realtor launches housing project in Chennai
Sabari Realtor Pvt Ltd, a part of the Sabari Group (a diversified
business entity with interests in hotels, retail and real
estate), recently launched its new housing project, Sabari’s
Serenity in Chennai. The Rs 200-crore project, off Old Mahabalipuram
Road, will comprise 936 apartments and will be completed in
three phases by 2011. The first phase of the project will
comprise 324 apartments by December 2010.
The complex will also have a sewage treatment plant, power
backup facility, two elevators in each block, and other amenities
such as gym, reserved car park, swimming pool, coffee terrace,
a squash court and children’s play area. It will also
accommodate a shopping centre and ATM counters.
Contact: Sabari Realtors Pvt Ltd Tel: 044-2461 7775. Fax:
044-2461 0066. E-mail: mktg.sfpl@sabarigroup.org Website:
www.sabarifoundation.com
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