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					                                                                                                                              May 15th ,2010

                                                                                                                            Volume 7, Issue 1




                                         Realty Monitor
    INSIDE THIS ISSUE:

Residential                2

Retail                     3

Office Market              4

Health & Hospitality       5
                                India Post mails govt on land bank utilization
Investment                 6    12th May,2010

Infrastructure             7    New Delhi: The sleepy neighbourhood post office building could soon be bursting at
                                the seams, if the government allows India Post to commercially develop its land
General                    8    holdings that house the country‘s 1.5 lakh post offices.
                                The department of post, dependent on the government‘s financial assistance for running the world‘s largest
                                postal network, has circulated a cabinet note seeking permission to develop its real estate assets with the help
      Opinion Poll              of private players to shore up its sagging revenues.
Do you think the present
FDI norms in retail are         ―The plan will help the postal department emerge stronger by benefiting from better facilities and infrastruc-
restricting the growth of the   ture developed by private firms,‖ said an official with the ministry of communications and information tech-
                                nology. Read More...
retail sector ?
                                Source: ET
1) Yes
2) No
                                Corporates show interest in scheme to pro-
3) Maybe
                                vide civic amenities in villages
            DISCUSS
                                12th May,2010

                                New Delhi: As many as 93 corporates, including 30 big infrastructure firms,
                                have expressed interest in joining hands with the government in the project to
Ariston Advisory Group          improve civic amenities in villages. The response to the notice for expression
specializes in:
                                of interest marks the beginning of the process to launch Provision of Urban
                                Amenities in Rural Areas (PURA), the brainchild of former President A P J
                                Abdul Kalam.
 Feasibility Study
                                The rural development ministry has finalised the PPP model for PURA
 Development Options           which will involve a tripartite agreement between the states, the Centre and
  Study                         the service provider. A timeframe of 13 years has been fixed for success of
                                schemes which will include provision of amenities like water supply and
 Market Research               solid waste management, streetlighting, telecom, electricity generation and
 Valuation                     development of economic activity and skill development.

 Strategy Consulting           The schemes will come up in a cluster of panchayats targeting a population of 30,000 to 40,000 people.

 Location Analysis             The aim to upgrade civic amenities in villages is a novel concept with a new model. Rural development secre-
                                tary B K Sinha and additional secretary Arvind Mayaram, talking to reporters, were hopeful that PURA would
 Information Memorandum        bring about a big difference in the quality of lives in villages where the PPP partner would be responsible for
                                maintenance of the scheme for 10 years. Read More...

                                Source: TOI
                                             Realty Monitor
Real estate firms returning to high- DB Realty to sell 4 mln sqft residen-
price, high-volume model             tial space in FY11-official
                                                                          12th May,2010
10th May,2010
                                                                          Mumbai: Indian real estate developer DB Realty Ltd expects to
Bangalore: In February, DLF Ltd launched 150 high-end apart-              sell around 4 million square feet of residential space in FY11 and
ments in the third phase of Capital Greens, a residential project in      has cut its debt to around 5 billion rupees, a top official said on
West Delhi, at Rs10,000 per sq. ft. About 70% was sold within             Wednesday.
weeks. Just six months earlier, DLF had sold apartments in the first      "We have a total developable area of 61 million square feet, and last
phase of the same project at Rs4,500 per sq. ft.                          year we sold around 3 million square feet," Group Chief Financial
India‘s largest real estate developer is set to launch at least 20 mil-   Officer Jayesh Doshi told Reuters over the telephone.
lion sq. ft of space in 2010-11, spending around Rs2,000 crore in         This (3 million square feet) generated a total sales value of 27
construction. Its product mix for the year is 26% high-end residen-       billion rupees, he said.Read More...
tial projects, 38% commercial or office space, and the rest, mid-
income or value housing. Read More...                                     Source: Reuters
Source: Live Mint


Omaxe bags contract worth Rs 572 ‘No FDI In housing projects for Ur-




                                                                                                                                                  Residential News
mn                               ban Poor’
13th May,2010                                                             6th May,2010
Omaxe announced that its subsidiary Omaxe Infrastructure and              The Government today said foreign direct investment (FDI) will not
Construction has been awarded a contract for construction of hous-        be allowed in housing projects for urban poor.
ing complex for AFNBH, Meerut Project Package-I. The contact              "There is no question of allowing FDI in housing for the poor,"
which is awarded by Air Force Naval Housing Board, New Delhi is           Minister of State for Urban Development Saugata Roy told Rajya
pegged at Rs 572 million.Read More...                                     Sabha today.Read More...
Source: myiris.com                                                        Source: Indian Express



Provogue arm to launch 3 housing projects by December
5th May,2010

Mumbai: Prozone Enterprises, a joint venture between Provogue India and UK's Liberty International is planning to launch three residen-
tial projects in Indore, Nagpur and Coimbatore by the year-end, a senior official at Provogue told reporters on Wednesday. The first phase
of the housing project will span 34 acres across the three cities, Salil Chaturvedi, deputy managing director of Provogue India, said on the
sidelines of a India Shopping Forum conference. Read More...

Source: DNA

Isha homes to construct budget Netz Realty Launches Budget Housing
apts at cost of Rs 120 cr      projects in Mumbai
                                                                      11th May,2010
8th May,2010
                                                                      Mumbai: Following the
Real estate developer Isha Homes India would construct its first      need of common man in
budget apartments project 'Isha Yara' in the outskirts of the city    Mumbai, Netz Realty has
valued at Rs 120 crore, a top company official said today.            launched two projects in the
"The apartments, spread across 5.91 acres in Medavakkam, will         heart of the city, Andheri,
house 460 flats on a total built up area of 4.28 lakh square feet,"   that come at a budget price tag of between 25 lacs to 45 lacs. The size
Isha Homes India Managing Director M E Suresh Krishna told            of studio apartments is between 250 square feet to 400 square feet
reporters here.Read More...                                           Liveability Index 2010'.Read More...

Source: ET                                                            Source: Indiaprwire.com

                                                                                                                                                      Page 2
                                            Realty Monitor
Prestige Group to invest up to Rs Walmart to push for faster growth in
1,800-cr in six new malls         India
9th May,2010                                                          13th May,2010

Mumbai: Bangalore-based real estate giant, the Prestige Group,        World's largest retailer, Walmart, which has
plans to invest around Rs 1,500-1,800-crore to develop six malls,     entered India, in collaboration with Bharti, said
scheduled to be operational by 2013. Of these six, the company        on Wednesday that it will accelerate its growth
will construct four malls in a joint venture with Singapore-based     process.
CapitaMalls Asia.                                                     The growth, it talks about, will be organic in nature as the retailer
"We are planning to develop six projects by 2013 at an invest-        pushes for more wholesale stores to be opened in India.
ment of Rs 250-300-crore per mall. Of these, four projects are in     This is important step forward as Walmart has shown its frustration
a joint venture with Singapore-based CapitaMalls. With this, the      towards the restrictive policies in India.
total number of our malls will increase to nine by 2013," Prestige    Talking to media, Raj Jain, Head of India, Bharti Walmart said that
Group's CEO, S Raghunandhan, told PTI here. Read More...              the firm was aiming to open 10-12 outlets in the next two to three
                                                                      years.
Source: DNA                                                           This is much higher than the past plans where it had put the time-
                                                                      limit as five years. The change has happened because of the fast
India Shopping Centre Forum 2010:                                     paced growth in retail segment.
                                                                      He also said that the food security for all, which the government is
Retailers strong on expansion                                         aiming at, will allow more stores to be opened up. Read More...

                                                                      Source: Topnews.in
6th May,2010




                                                                                                                                               Retail News
The two-day India Shopping Centre Forum (ISCF) 2010, kicked
off this morning at the Renaissance Hotel & Convention Centre,
                                                                      Future Group ropes in realtor Sumit
Powai, Mumbai with calls for greater cooperation between shop-        Dabriwala for Future Mall Manage-
ping centre developers and tenant retailers in the design and man-
agement of India‘s shopping malls.
                                                                      ment
Panellists in the forum‘s opening discussion, 'Indian Mallscape,'
agreed that challenges facing the shopping centre industry, such      3rd May,2010
as mall design, revenue-share versus minimum guarantee rental
agreements and tenant mix could only be overcome if developers
and retailers worked together closely. Read More...                   Mumbai: Kishore Biyani plans to make a strong entry into real es-
                                                                      tate development through Pantaloon Retail‘s recently demerged sub-
Source: Indiainfoline.com                                             sidiary that will consolidate all the land holdings of his family, a
                                                                      person familiar with the development said
Carrefour to open outlets in India                                    The Future Group CEO has roped in Kolkata-based realtor Sumit
                                                                      Dabriwala of Bellani Group into the new company, Future Mall
12th May,2010                                                         Management, which will develop commercial and residential proper-
                                                                      ties as well as modern wholesale and retail spaces. Read More...
World's second largest retailer,
Carrefour has decided that it will                                    Source: ET
open outlets in India. The number
may vary from 3 to 4 depending
on the final decision taken by the                                    Bharti’s realty stake on sale?
retailer.
The outlets will be wholesale in                                      12th May,2010
nature and will be spread pan-
India. These outlets will be opened by the end of this year. The      New Delhi: At a time when the Bharti group is facing immense pres-
above mentioned step is inline with the strategy of the retailer to   sures in their core telecom business, the group may look to monetize
open and tap the high potential that India provides. It has been      one of their capital intensive businesses—real estate.
trying hard for the past seven years to enter into the market, but    Sources suggest that Bharti may offload a 10-15 per cent stake in the
has been failing to do so because of the restrictive regulations.     real estate business with one possible investor being Shapoorji Pal-
It has already secured property in Delhi, Bangalore, Chennai and      lonji, with whom Bharti has entered into talks.
Hyderabad. The company said that it will soon buy property in         NDTV learnt from sources that the company is in preliminary talks
Mumbai as well. The news was released by private news agency,         with Shapoorji Pallonji for selling 10-15 per cent stake in its realty
Reuters.Read More...                                                  business for which, Bharti expects an enterprise value of about a
                                                                      billion dollars.Read More...
Source: Stockwatch.in
                                                  DISCUSS             Source: NDTV Profit


                                                                                                                                                 Page 3
                                            Realty Monitor
Office property deals South Mumbai 4th most expensive office mar-
pick up, rents remain flat ket
                                                  9th May,2010
12th May,2010
                                                  Global Office Rents Survey lists London‘s West End at the top.
· Life insurers SBI Life and Birla Sun Life,
                                                  The rupee‘s rise against the dollar and pick-up in office leasing transactions in its cen-
and brokerages such as Motilal Oswal and
                                                  tral business district, Nariman Point, have propelled the country‘s commercial capital,
India Infoline have together either bought or
                                                  Mumbai, to fourth-most expensive office rent market in the world, a new study shows.
taken on lease around 500,000 sq ft of office
                                                  When the last such study was conducted, in December 2009, Mumbai was the seventh
space in Mumbai in the past four months.
                                                  most expensive market.
· IT majors Wipro ,TCS and L&T Infotech
                                                  According to the study released today, office occupancy costs measured in dollars are
have taken a similar amount of space on lease
                                                  affected by changes in the dollar‘s value versus the local currency. Hence, office occu-
in Navi Mumbai in the past two months.
                                                  pancy costs when converted into dollars are driven by both the local market dynamics
· According to sources, global investor Mor-
                                                  of supply and demand, as well as currency changes. Read More...
gan Stanley has just closed a deal to take
100,000 sq ft at a large building in Lower
                                                  Source: BS
Parel in Mumbai and another IT services firm
is working on booking a million sq ft of space
at Airoli in Navi Mumbai.Read More...




                                                                                                                                               Office Market News
Source: RediffBusiness


Omaxe launches new
commercial project in
Punjab
6th May,2010

Real estate developer Omaxe Limited today
announced launching of a new commercial
project in Punjab.
‗India Trade Tower‘ dubbed as the tallest com-
mercial building of Punjab, with a realisation
value of Rs 120 crore, is slated to be complete
within two-and-half years from the com-
mencement of construction.
Additional Vice President (Sales and Market-
ing) Ritesh Sehgal said India Trade Tower
aimed to fulfill the aspirations and needs of
companies and the business community of
Chandigarh. The company has announced Rs
4,430 per sq feet as the launch price for the
commercial space in the project.Read More...

Source: Business Standard

NTC to sell more mill land                        Commercial property in re- Suburban office building
                                                  vival mode                 sells for Rs 407 crore
13th May,2010
                                                  9th May,2010                                 5th May,2010
New Delhi: State-owned National Textile
Corporation (NTC) plans to raise over Rs          The commercial property and office space     Mumbai: In what is touted as the largest
6,000 crore from sale of around 100 real estate   off-take in Hyderabad and surrounding        commercial transaction of 2010 in Mumbai
properties spread over five cities — Mumbai,      areas has begun to show signs of revival     suburbs, a brand new office building at
Indore, Kanpur, Calcutta and Bangalore. Read      after a lull of few quarters due to slow-    Kalina has been sold for Rs 407 crore.
More...                                           down in the economy, especially the real     Market sources said the deal was signed
                                                  estate segment. Read More...                 sometime last week. Read More...
Source: ET
                                                  Source: Business Line                        Source: TOI

                                                                                                                                                  Page 4
                                            Realty Monitor
Real estate companies review hospital- Bardiya Group to foray into hos-
ity projects                           pitality sector
8th May,2010
                                                                             12th May,2010
Bangalore: The capital-intensive nature and long gestation periods of
                                                                             Jaipur-based Bardiya Group plans to foray into the hospitality
hospitality projects seem to be forcing a rethink among real estate devel-
                                                                             sector by opening two hotels in Jaipur by September 2012.
opers on such ventures.
                                                                             The 91-room business hotel will be located at Malviya Nagar,
                                                                             Jaipur and a 225-room five-star hotel near Jaipur airport. The
While DLF has decided to sell about 7.5 acres in Kolkata and Gurgaon
                                                                             approximate amount of investment for setting up the business
after scrapping plans to build luxury hotels, Emaar MGF Land is putting
                                                                             hotel is Rs 40 crore (including land cost) and for the five-star
on the block about 5.6 acres on the outskirts of Kolkata, four years after
                                                                             property is Rs 250 crore (including land cost). Currently, the
buying the same at a whopping Rs 190 crore.Read More...
                                                                             Group is in discussions with international management com-
                                                                             panies to operate its properties.Read More...
Source: ET
                                                                             Source: Hospitalitybizindia




                                                                                                                                                Health & Hospitality News
Hilton may bring lux-                         Best   Western     India                          Starwood,     Marriott,
ury chains Waldorf As-                        signs hotel in Ajmer                              IHG to tie up with real-
toria, Conrad in India                                                                          tors
                                              10th May,2010
                                                                                                29th April,2010
4th May,2010
                                              Best Western India in
                                              association with Noida-                           Mumbai: Global hotel majors Starwood
New Delhi: The US-based hospitality
                                              based developers Aashi-                           Hotels & Resorts Wo-rldwide, InterConti-
giant Hilton International Co is under-
                                              yana Infrastructure De-                           nental Hotel (IHG) and Marriott are focus-
stood to be planning to bring more of its
                                              velopment Pvt Ltd, are                            sing on real estate developers with experi-
global brands, including luxury chains
                                              developing a new hotel                            ence of building and owning hotel proper-
Waldorf Astoria and Conrad, to India.
                                              property 'Oasia Mall & Multiplex' in Ajmer,       ties to expand their presence in India.
                                              Rajasthan. Currently under construction the
The company, which is keen to expand its
                                              60 room hotel is scheduled to be operational      The foreign chains are tying up with firms
presence in India, beyond its existing
                                              by the end of 2010 The hotel will be located      like K Raheja who they feel understand the
joint venture with real estate major DLF,
                                              on a joint development plot with a mall and       hotel business and are more likely to build
is also believed to have sought permis-
                                              Multiplex. .Read More...                          hotels as per plans than pure real estate
sion to either invest or acquire stake in
                                                                                                developers who froze their hotel develop-
other Indian hospitality firms. Read
                                              Source: Construc-      DID YOU KNOW ?             ment plans when the market softened.Read
More...
                                              tionweekonline                                    More...
                                                                   This will be the first
Source: ET                                                         hotel with international
                                                                                                Source: Mydigitalfc.com
                                                                   brand at Ajmer


Mandarin to run hotels for Reliance LIC Housing Finance to focus on
                                                                             projects for senior citizens
9th May,2010
                                                                            9th May,2010
After entering oil and gas and retail sectors, Reliance Industries (RIL) is
now stepping into hospitality through a joint venture with Mumbai-based New Delhi: LIC Housing Finance Ltd (LICHFL), the housing
real estate company Maker Builders. They will build two hotels at the finance arm of state-owned Life Insurance Corp. of India
Bandra Kurla Complex in suburban Mumbai.                                    (LIC), plans to enter the retirement home business with the
                                                                            launch of two projects in Bhubaneswar and Jaipur.
The partners are in final talks with an international hotel chain listed in ―Every year, LICHFL plans to develop housing projects for
London - Mandarin Oriental of Jardine Matheson group -- to run their senior citizens who are 50 years and above in age. The first
hotels.                                                                     project at Bhubaneswar is at the approval stage,‖ said R.R.
Terms and conditions of a revenue sharing deal between RIL, Maker and Nair, LICHFL‘s director and chief executive officer.
Mandarin are expected to signed shortly.                                    The company, which has acquired 7 acres and 5 acres of land
                                                                            in Bhubaneswar and Jaipur, respectively, will launch one
The first project -- Maker Maxity -- will come up in the open-air theatre
ground in Bandra .Read More...
                                                                            such project in each state every year. The cities will be
                                                                            selected on the basis of their demography . Read More...
Source: Mydigitalfc.com
                                                                             Source: Livemint

                                                                                                                                                     Page 5
                                             Realty Monitor
BPTP gets Rs 1500cr IPO nod: Sources                                                        Upcoming constructions
6th May,2010                                 expansions.
                                                                                            a fillip for Anant Raj in-
                                             Since mid-2009, about 15 developers have       dustries
                                             lined up plans for initial public offers to
                                             raise about USD 6 billion on the back of
                                             reviving property demand.                      3rd May,2010
                                             These include a USD 650 million issue by
                                             Lodha Developers, a USD 770 million            Mumbai: With the do-
                                             offering by Emaar MGF, an Indian joint         mestic economy on track
                                             venture of Dubai's Emaar Properties, and a     for sustained economic
                                             USD 650 million IPO by Sahara Prime            growth, the demand for
Real estate firm BPTP Ltd has received                                                      residential and commercial spaces has again
approval from the markets regulator for an   City.
                                             However, the Mumbai stock index has            started picking up. Anant Raj Industries, a Delhi
initial public offering to raise about Rs                                                   -based real estate developer, would benefit from
1,500 crore (USD 325 million), two           dropped 2.7% this year after an 81% jump
                                             in 2009 and a crowded calendar of public       its balanced revenues model and presence
sources with direct knowledge said on                                                       across different real estate verticals.
Thursday.                                    offers are threatening to derail fundraising
                                             plans by the property firms.Read More...        Business: Anant Raj Industries is primarily
The New Delhi-based builder joins a long                                                    engaged in construction and infrastructure de-
list of private as well as state-run firms                                                  velopment in north India.Read More...
jostling to tap the market as Indian compa- Source: Moneycontrol.com
nies raise funds to repay debt and fund
                                                                                            Source: DNA




                                                                                                                                                Investment News
Home loan schemes attractive for Kotak Realty invests in Dheeraj In-
borrowers                        signia
9th May,2010                                                            30th April,2010

The Reserve Bank of India (RBI) re-                                     Mumbai: Kotak Realty Fund, the real estate-focused private equity
cently announced a hike in the cash                                     (PE) arm of Kotak Mahindra Group, has invested Rs150 crore in
reserve ratio (CRR) as well as policy                                   Dheeraj Insignia, a residential project launched by Dheeraj Realty
interest rates (repo and reverse repo).                                 in Mumbai, said a top official at Kotak Realty.
The RBI has taken these actions to                                      Dheeraj Insignia is located in Bandra East, close to the Bandra
implement a further tightening in the monetary policy in order to       Kurla complex (BKC), a business hub in Mumbai. Read More….
control the rising inflation rate. The inflation rate is rising quite
sharply since the beginning of this year and the RBI has taken          Source: LiveMint
these tightening measures with small steps thrice since January.                                                 DID YOU KNOW ?
Read More…                                                                                               The fund plans to invest around $100
                                                                                                         million (Rs446 crore) over the next
Source: ET                                                                                               six-eight months



PE investors in real estate now demand a big- Real estate issues face
ger role                                      uphill task
9th May,2010                                 16 of these deals were by domestic funds       12th May,2010
                                             and foreign funds did only four.
They are back on the table, but aren‘t       ―Investments are currently being done more     Realtors plan to raise Rs 12,000 crore in coming
willing to play sleeping partners any        by domestic funds. Real estate values have     months.
more. Private equity firms which made        dropped drastically all over. This makes       Real estate companies appear to be the worst hit
big ticket transactions in the housing       returns in their home country seem far more    by the ongoing global uncertainties, coupled
business during the peak are now cutting     attractive. It will be some time before we     with the new norms for primary market issu-
deals only if they are given to play the     see the comeback of big ticket deals,‖ says    ances. At a time when confidence is yet to fully
lead role. While that is a good sign for     Arun Natarajan, chief executive officer of     return to the market, experts feel this rate-
industry, it still raises doubts that all    Venture Intelligence.Read More...              sensitive sector will see only subdued response
may not be well in the real estate sector.                                                  from investors. This could come as a blow to
Venture Intelligence, a research firm        Source: ET                                     the companies, which plan to raise Rs 12,000
tracking PE deals and mergers and ac-                                                       crore in the coming months.Read More...
quisitions, tracked 20 transactions worth
$393 between Oct 2009-March 2010.                                                           Source: BS

                                                                                                                                                   Page 6
                                             Realty Monitor
ICICI Venture plans $500 mn infra fund                                                Shristi Infra to invest Rs 2,000
11th May,2010
                                                                                      crore in three states

Mumbai: India's ICICI Venture, the private equity arm of lender ICICI Bank , 12th May,2010
plans to launch a $500 million fund by July to invest in infrastructure projects,
its chief executive said.                                                          Kolkata: Shristi Infrastructure Development Corpora-
                                                                                   tion said Wednesday it would invest Rs.2,000 crore
"In the private equity context I would put education (and) hospital as part of over the next three years in seven smaller cities in three
infrastructure, but there is also a big opportunity on serious infrastructure like states.
roads, ports, power," Vishakha Mulye told Reuters in an interview.
                                                                                      The money would be used to build integrated town-
India has made building of roads, bridges, airports and power plants a priority       ships, healthcare facilities, hospitality and sports facili-
and expects private firms to fund half                                                ties, retail malls, logistics hubs and commercial and
of a projected $1 trillion in                    DID YOU KNOW ?                       residential complexes in West Bengal, Tripura and
infrastructure between 2012 and                                                       Rajasthan, company director Hemant Kanoria told
                                       ICICI Venture also plans to launch a $100-
2017. Read More...                     million fund in India. The fund will be        media persons here. Read More...
                                         launched in the next couple of months, and
Source: ET                               will invest in residential projects          Source: ET




                                                                                                                                                     Infrastructure News
Jaypee Infratech prices IPO at Rs 102 per 18-acre Marol plot goes up for
share                                     sale
12th May,2010
                                                                                      9th May,2010
Infrastructure firm Jaypee Infratech has priced its initial
public offer (IPO) at the lower end of the Rs 102-117 a                               Mumbai: With property prices once again showing
share price band following lukewarm investor response                                 signs of spinning out of control, city builders have set
to the issue. Retail investors will be issued shares at 5%                            their eyes on the largest chunk of land that has recently
discount to the IPO price.                                                            come up for sale in the western suburbs.

Jaypee Infratech's IPO was subscribed 1.24 times and got bids for 27.39 crore         An 18-acre industrial plot belonging to Borosil Glass
shares as compared with 22.17 crore shares on offer. The IPO was a combina-           Works in Marol, Andheri (east), has been put on the
tion of fresh issue of equity shares and an offer for sale of 6 crore equity shares   block—since January this year, a slew of leading devel-
by Jaiprakash Associates. Read More...                                                opers have lined up to negotiate with authorised repre-
                                                                                      sentatives appointed by the company. Read More...
Source: Indiainfoline
                                                                                      Source: TOI


Gold Souk plans Rs 2,000-crore Auda to check migration to Ahmeda-
gems & jewellery SEZ in Gurgaon bad from nearby towns
5th May,2010
                                                                     10th May,2010
New Delhi: Gold Souk – the jewellery
mall developer – is planning to set up a                             Ahmedabad: Ahmedabad Urban Development Authority (AUDA) is
gems and jewellery special economic                                  focusing on developing towns in the vicinity of Ahmedabad as growth
zone (SEZ) with an investment of Rs                                  centres.
2,000 crore in Gurgaon. The company                                  The development authority will create basic infrastructural facilities in
plans to start work on the project                                   these five towns at a cost of around Rs15 crore.
within this financial year.                                          ―We want to develop Dehgam, Mahemdabad, Sanand, Kalol and Bareja
We have got 40 acres from the Haryana government. It is an           as growth centres,‖ said AUDA chairman Dharmendra Shah. The work
ambitious project. We plan to have residential apartments            on creating infrastructure such as roads, lights, drinking water, drainage
named Gold Souk City, apart from having gems and jewellery           systems and storm water drainages will all be started soon. Shah said
manufacturers from Thailand and Dubai who will open their            that road networks will be created in these towns within three months,
units in India,‖ Gold Souk Vice-Chairman and Joint Managing          while the rest of the facilities will take longer.Read More...
Director Ashish Gupta said .Read More...
                                                                     Source:DNA
Source: BS


                                                                                                                                                         Page 7
                                              Realty Monitor
India's urban population to grow to 41 % by Delhi real estate regulator by
2030                                        this year-end
                                          told the CIB World Congress in Man-
                                          chester, United Kingdom, that some
                                          estimates had placed this figure at 55 per   6th May,2010
                                          cent by 2050.Ms Dhingra was speaking
                                          at the plenary session on "Building a        New Delhi: Delhi will have real estate regulator by
                                          Better World - Experience and Chal-          this year-end, Urban Development Minister S. Jaipal
                                          lenges" at the conference.She said that,     Reddy said Thursday. He also said the government
                                          from 2003 to 2007, India witnessed an        was talking to other states to have similar regulators.
                                          unprecedented economic growth spurt at       "The state governments have sounded positive. It
                                          9%. Due to the economic slowdown of          would take time to happen. But Delhi will get a regu-
12th May,2010                                                                          latory authority for the real estate by this year," Reddy
                                          2008, however, this rate decreased to
                                          between 6% and 7%; for a developing          told.
New Delhi: India's urban population       country, however, this is still an impres-   He said the legislation process for the real estate regu-
is expected to grow to 41 per cent of     sive rate of growth to maintain. Read        lator for Delhi would soon be completed as the draft
the country's total population by the     More...                                      bill has been circulated to the stakeholders.Read
year 2030 from 28 per cent in 2001,                                                    More...
a top official has said.                  Source: Netindian.com
Ms Kiran Dhingra, Secretary, Hous-                                                     Source:ET
ing & Urban Poverty Alleviation,

Ahmedabad realty boom is music to APREA includes Pradeep Jain, Chair-
Mumbai builders




                                                                                                                                                   General News
                                                                        man, Parsvnath Developers as new
10th May,2010                      townships, it is the Ajmera Group
                                   and Gemstone Investments Ltd         member of the board
Ahmedabad: The boom in             which recently announced their
Ahmedabad realty and the           arrival.                             11th May,2010
good profits that can be made      The Ajmera Group has, in fact, re-
here have spurred not only         entered Ahmedabad‘s realty mar-      New Delhi: In yet another milestone for Indian Real Estate Industry
the city‘s realtors into action,   ket after almost 20 years. The       and Indian Entrepreneurs, Mr. Pradeep Jain, Chairman, Parsvnath
but have also attracted some       company, in association with city-   Developers Limited is inducted on the board of APREA (The Asian
major Mumbai-based play-           based Bakeri Realty, recently bid    Public Real Estate Association). APREA has played a leading role in
ers. If sources in the city‘s      successfully for 2.39 lakh sq me-    representing and promoting real estate in Asia, particularly in the
real estate sector are to be       tres of Calico Mills land at an      areas of research and information, training for professionals and
believed, many of the Mum-         auction on May 1. The two realty     promoting real estate investment in Asia..Read More...
bai-based builders have plans      companies together paid Rs211
to come up with affordable         crore for the land. Read More...     Source: Indiaprwire.com
housing schemes for the
middle income group.               Source: DNA
After Godrej Properties and
Hiranandani Builders, who                               Realty becoming Wadias' prime asset
entered the city‘s real estate
sector with proposals of new
                                                        29th April,2010
CREDAI organises
conference     on                                       Mumbai: Wadia Group chairman Nusli Wadia is diving headlong into the property
Formulation    of                                       business, putting his younger son Jeh Wadia in charge of projects for building malls,
                                                        five-star hotels and upscale homes on the family‘s sprawling land assets. Read
Banking Strategy for Real Estate                        More…
                                                        Source: ET
10th May,2010
                                                        A town that has emerged from the shadows of Ban-
New Delhi: CREDAI NCR, the Delhi-NCR chapter
of the Confederation of Real Estate Developers‘ galore
Associations of India (CREDAI), the apex body of
real estate in India, organised a conference on For- 5th May,2010
mulation of Banking Strategy & the Economic
Outlook for Real Estate for 2010-11 here..Read
More...                                              Till the other day, Hosur, the border town between Karnataka and Tamil Nadu
Source: Mynews.in                                    was basking in Bangalore's glory. Read More...
                                                        Source: FE

                                                                                                                                                     Page 8
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