Silvex Realty forays into hospitality
Mumbai-based Silvex Realty Limited with services in construction, real estate and infrastructure has forayed into the hospitality industry.
Mumbai-based Silvex Realty Limited with services in construction, real estate and infrastructure has forayed into the hospitality industry.
Nitesh Estates has signed up a Rs.300 crore residential project in Bangalore. The project spread on more than 4 acres of land, will have nine lakh square feet development aimed at mid and upper mid income segments.
Janaadhar Constructions, handed over the keys to home buyers of Janaadhar Shubha, its first affordable housing project targeted at the aspiring first-time home owner among the urban low income group.
Dynamix Balwas (DB) Realty, the Mumbai-based realtor, has decided to buy upto 49 per cent stake in its hospitality arm, DB Hospitality Ltd, an unlisted arm where the promoters hold a majority stake.
Videocon Group has put its hotel project on backburner. The company now plans to enter the Ahmedabad real estate market with a residential cum commercial project on the prime location of Ashram Road.
Private equity firm India Property Fund has picked up a 49% stake in Ramprastha Group’s housing project Skyz in Gurgaon for Rs.120 crore.
ICICI Ventures-backed Delta Corp has acquired 51 per cent stake in Daman Hospitality Pvt Ltd for Rs 50 crore in its second acquisition this year.
Hospitality firm Lemon Tree Hotels is foraying into real estate, with plans to invest over Rs.1,400 crore, to launch housing projects in India in partnership with US-based investment firm Warburg Pincus.
It is an established fact that scheduled infrastructure projects tend to increase the value of properties in the adjoining areas. This occurs because the infrastructure project becomes a part of USP for the developers or property owners. There have been instances where property prices have increased 50-70% from the announcement of an infrastructure initiative until the operational phase.
No wonder, the healthcare sector is being adopted by the developers across the country. Property analysts are of the opinion that proximity to a hospital in an area also impacts the price of real estate and many developers use it as USP to market their projects.