Indian Railways plans to invite bids from real estate developers to set up commercial complexes on its vacant land, as part of efforts to increase revenue. In a written reply to Parliament, minister of state for railways R Velu also said private investment would be sought to modernise 26 major stations. The ministry has set up Rail Land Development Authority for commercial development of vacant railway land for generating revenue. "As per current thinking, railway land is to be given to developers for commercial development through transparent bidding process on long term lease basis for development work without any budgetary resources," he said. Courtesy: ET dtd.25-04-2008
-
THE LAND BANK AGAIN, AND THE BENEFICIARY'S SHREE PRECOATED
@ 2008-04-26 – 13:39:07
The counter of Shree Precoated is witnessing sustained investment-based buying by investors. The buzz is that the company is going to register good numbers. Analysts say the company is expected to report a PAT of about Rs 240-250 crore on revenue of Rs 2,000 crore for FY2007-08. The company is looking to develop its 67 acres Kanjuurmarg property, which it had acquired for Rs 42 crore about 30 years ago. The current market value is estimated to be about Rs 4,000 crore. The total cost of the project would be to the tune of Rs 5,000 crore and would generate a revenue of about Rs 1012,000 crore over five years. It is already developing its Bhakti Park project in Mumbai. Analysts expect the company to achieve a total topline of about Rs 3,000 crore with about Rs 500 crore bottomline for FY 2008-09.s This is largely due to low land acquisition cost and low debt. When contacted, company officials refused to comment on the same. The stock closed at Rs 195, down about 4% on Thursday.
Courtesy: ET dtd.25-04-2008 -
'Springdale' execptionally designed italian homes in Wagholi, Pune
@ 2008-04-25 – 11:35:00
Inspired by the architecture of the land that gave the world its greatest works of art. From Michelangelo's frescos to Leonardo da Vinci's unrivalled Mona Lisa. IDEB presents exceptionally designed Italian homes on the Pune-Ahmed Nagar Highway. The only residential enclave in Wagholi, one of Pune's fastest developing locality and soon to be a major IT hub.
Merely a hop away from Ranjagaon Industrial City Estate and a whisper away from MIDC's proposed SEZ. Yet housed in a cocoon of lush green open spaces. A haven in the name of home. A true bella figura in the Italian order.
Springdale is a FAR cry from the concrete jungles that outline most urban locales. The homes here are exceptionally landscaped and carry with them a distinct flavor of Italian Lifestyle. Located in a calm, serene atmosphere with all facilities within reach, Springdale is spread over 23 acres, with ample space around every home. The houses vary from independent villas, row houses, twin bungalows to apartments. Approximately 372 homes designed around international levels of amenities. The individual villas are built around a central oval. Where you can stroll leisurely, like on the streets of Venice and rid yourself of the office humdrum. Or engage in a bicycle ride in open air, instead of sweating it out in the gym.
The row houses and twin bungalows afford a scenic delight only paralleled by the scenic marvels from Rome to Sicily and Pompeii to Venice. While the apartment balconies offer their own share of picturesque pleasures.
More information mail: visit> http://www.zameen-zaidad.com
+09911158601
-
Tidco, DLF Ink MoU for IT Zone
@ 2008-04-25 – 11:32:10
Chennai the Tamil Nadu Indusstrial Development Corporation (Tidco)and New Delhi-based real estate developer DLF Building India signed a memorandum of understanding (Mou) in Chennai on Wednesday to develop an IT SEZ at suburban Taramani at a cost of Rs1,500 crore. According to a state government release on Wednesday, the new SEZ will generate employment opportunities for Rs 45,000 people directly, while another 10,000 jobs will be created indirectly. The new SEZ is expected to come up in an area of 45 lakh sq. ft. The first phase of the constructon work on the scond phase (over 20 lakh sq ft) would be completed by 2011, the release said. Tidco officials were unavailable for comment.
Courtsy: BS April 24, 2008 -
MLD TO INVEST $4.5 B IN RESIDENTIAL PROJECTS
@ 2008-04-24 – 06:12:11
Mahindra Lifespace Developers (MLD), the real estate arm of $4.5-billion Mahindra Group, would invest close to Rs 800 crore in its six upcoming residential projects in Mumbai, Pune, Chennai, Delhi and NCR over the next 2-3 years, reports Pramugdha Mamgain from New Delhi. With the launch of its residential project in Faridabad recently, the company entered the real estate market of North India. The real estate firm is targeting a turnover of Rs 1,000 crore in the next five years against Rs 163 crore in 2006-07. So far, the company has completed projects in Mumbai, Pune and Chennai and is now entering the northern region. "With the launch of Chloris, the residential project in Faridabad, we made our presence in real estate market of the North. We are coming up with a similar project in Delhi spread over 17 acres," said MLD CEO Pawan Malhotra. He added the company is looking at expanding into other areas of the region including Chandigarh and Himachal Pradesh. Asked about funding plans for the projects Mr. Malhotra said, "We would be expanding in a phased manner. Initially, the funding would be primarily through internal accruals. It's only when we go about de-veloping the land further, we may resort to loans and private equity." While work on the Faridabad project has already commenced, construction of the project in Delhi is yet to begin. Work on the two projects coming up in Mumbai and one each in Pune and Chennai are also yet to commence. Currently, MLD has a land bank of 3 million square feet for residential projects