Real Estate Update
Omaxe launches Sangam City in Allahabad
Omaxe Ltd recently launched Omaxe Sangam City, an integrated township over 96 acre in Allahabad. To be developed with an investment of Rs 100 crore, Omaxe Sangam City will be a self-sufficient township and offer services like healthcare support, educational institutes, office spaces and retail outlets.
Omaxe has also entered into an MoU with the Allahabad Development Authority for development of Omax Waterfront; a hi-tech township over 1,535 acre with an investment of approx Rs 1,800 crore.
Contact: Omaxe Ltd
Tel: 011- 4189 3100. Fax: 011-4189 6773.
Ista Hotels to expand Hyderabad property
Ista Hotels, a part of the Delhi-based IHHR Hospitality, plans to invest upto Rs 90 crore to expand its existing facility at Gachi Bowli. The expansion will include addition of 137 rooms, a couple of restaurants and conferencing facilities. It will also include adding of two hotels one with 210 rooms in Pune and another with 250 rooms at Ahmedabad. The company has secured about 16 acre from the Andhra Pradesh Industrial Infrastructure Corporation for the project.
Contact: Ista Hotels
Tel: 080-2555 8888. Fax: 080-2554 9999.
Indian Hotels to expand capacity
Indian Hotels Company (IHCL), the country’s biggest chain operator and owner of the Taj brand, is planning to expand capacity by setting up 45 hotel properties and adding 7,200 rooms in India and abroad over the next four years. The expansion will be executed across all of its existing brands such as Taj, Gateway, Vivanta by Taj and Ginger. The company will also spend Rs 350 crore as capital expenditure in this financial year.
Contact: Taj Hotels Resorts and Palaces
Tel: 022-6665 1000. Fax: 022-2284 6680.
TNCHF to construct 6,000 houses
Tamil Nadu Co-operative Housing Federation Ltd (TNCHF), an apex body that offers housing loans, is planning to construct 6,000 houses with an investment of Rs 100 crore.
It had earlier extended loan facilities to primary co-operative housing societies for the construction of 1, 163,485 houses with financial assistance of Rs 4,736.09 crore
Contact: Tamil Nadu Co-operative Housing Federation Ltd. Website: www.tn.gov.in
Unitech launches Uni Homes
Unitech Group recently launched Uni Homes, an affordable housing project in Chennai. A project linked to UniWorld City, a 250-acre township that will launched later by the company, UniHomes will come up on 11.5 acre and comprise 1,000 apartments of 700 or 715 sq ft each in blocks of ground plus three floors. These flats will be delivered in 2011. The company plans to launch Uni Homes in Noida, Mohali, Rewari, Bhopal, Kolkata and Chennai.
Contact: Unitech Group.
Tel: 011-4166 4040. Fax: 011-2685 7338.
CCCL to build ONGC office building
Chennai-based Consolidated Construction Consortium Ltd (CCCL) has bagged a Rs 431-crore order to construct an office building, Rajiv Gandhi Urja Bhavan, for Oil and Natural Gas Corporation Ltd. The 10.63-lakh sq ft building comprising two basements and ground plus five floors will come up in New Delhi. It will be completed in 18 months.
CCCL has also teamed up with Samjung Tech, a Korean electronics company, to design and build automated car parking structure for the Delhi Metro Rail Corporation (DMRC). Samjung Tech is to supply electronic equipment for the automation component, while CCCL will handle the design and civil construction.
Contact: Consolidated Construction
Tel: 044-2466 1083.
Telefax: 044-2499 0225.
Hiranandani to enter low income housing
Hiranandani Constructions is planning to enter the affordable housing segment. The company will enter into a public private partnership with the Maharashtra Government for this venture. It will set up these projects in Bengaluru, Nashik, Panvel, Thane and Pune among other cities.
Contact: Hiranandani Constructions
Tel: 022-2576 6724. Fax: 022-2570 6444.
Pride Hotels plans 30 hotels in six years
Pride Hotels, which currently operates 10 hotels – five luxury hotels under the brand, The Pride Hotel in Pune, Nagpur, Ahmedabad, Chennai and Bengaluru; three business class hotels under the Pride Biznotel brand in Puducherry, Ranipet and Chinchwad (Pune); and two resorts in Mahabaleshwar and Jaipur, is planning to have 30 hotels – both own and under the management contract in the next six years. The group will invest Rs 800 crore towards this expansion. It currently has three luxury properties coming up in Mumbai, Goa and Hyderabad; and two Biznotels in Nashik and Surat.
Contact: Pride Hotels
Tel: 022-2284 4051.
CREDAI seeks incentives for real estate developers
The Confederation of Real Estate Developers Associations of India (CREDAI), while welcoming the subsidising of home loans and extension of tax holidays for projects by the government, has sought some more incentives like extension of tax holiday to 2012, increase in the interest subsidy by one or two per cent and extension of the scheme for loans upto Rs 30 lakh.
Tel: 011- 4152 0549. Fax: 011- 4152 0548.
Demand for affordable homes to be 2 mn by 2011
A Knight Frank study has estimated that the demand for affordable housing for the middle class segment will touch around two million by 2011. The requirement covers 1,650 mn sq ft and entails an investment of Rs 330,000 crore. The highest requirement is from Mumbai and the NCR, which require 0.4 million units and 0.54 million units, respectively, with corresponding investment of Rs 64,700 crore and Rs 87,600 crore.
Provident Housing launches Welworth City in Bengaluru
Provident Housing Ltd, a subsidiary of Puravankara Projects, recently launched Welworth City, its affordable housing project in Bengaluru. Provident Welworth City project is worth Rs 480-crore and will offer premium affordable housing. The project will have 3,360 apartments out of which over 1,000 will be launched in Phase I of the project. The project will also have facilities like play area, swimming pools, gyms, multi-purpose hall and a super market.
Contact: Provident Housing Ltd
Tel: 080-4342 8999. Fax: 080-2559 9975.
Jaypee Greens launches Kosmos in Noida
Jaypee Greens, a division of Jaiprakash Associates Limited - a well diversified infrastructural industrial conglomerate in India-recently launched Kosmos, a new residential project in Noida. This gated community over 1162 acre will comprise of over 3000 apartments in the configuration of 2 BHK, 3 BHK and 3 BHK + Utility room apartments with expansive landscaped greens, zen gardens, walkways, fountains and water-bodies. The apartments will be delivered in three years time.
Contact: Jaypee Greens
Tel: 0120-247 0944. Fax: 0120-247 0946.
BPTP ties up with Grand Hyatt
Delhi-based developer BPTP Ltd has tied up with global luxury hotel chain Grand Hyatt to operate its five-star hotel in Noida. The project, which will be developed with an investment of Rs 500 crore, will complete in 30 months. BPTP will retain majority stake in the project.
Contact: BPTP Ltd
Tel: 011-3046 2900. E-mail: email@example.com
Roots to set up more Ginger Hotels by Dec 2010
Roots Corporation Ltd, which recently launched its 20th Ginger Hotel at Jamshedpur, is planning to set up 10 such hotels across India by December 2010. By this the number of Ginger Hotels in the country will rise to 30. The company will set up these hotels in Chennai, Tirupur and Surat. It will set up its second hotel in Pune.
Contact: Roots Corporation Ltd
Tel: 0381-230 3333. Fax: 0381-230 3336.
Hypercity plans six stores
The K Raheja Corp group-promoted Hypercity, which recently unveiled its fourth large format destination store in Hyderabad, is planning to add six more stores by the 2010. Out of these, four stores at Amritsar, Bengaluru, Mumbai and Pune will commission by June 2010. These stores will garner revenue of Rs 1,000 crore for the company. The Hyderabad store of the company is spread over one lakh sq ft and is the largest single floor store. The company has invested about Rest 30 core in the store Besides the Hyderabad Inorbit store is also planning to expand its capacity with an investment of Rs 300 crore. The store will add 1.2 million sq ft of built-up space, including 8 lakh sq ft of mall space and 4 lakh sq ft of parking area. It will also establish two stores in Bengaluru and Chennai by June 2010.
Contact: K Raheja Corp, Tel: 022 26564000. Fax: 022 26564899.
E-mail: firstname.lastname@example.org Website: www.krahejacorp.com