The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
Sahara India has accused market regulator SEBI of not accepting data, since Monday, of the three crore investors of the company who had invested in its optionally fully convertible debentures (OFCDs). Sahara sent the data to SEBI following a Supreme Court order to furnish documents relating to investors, supporting redemption documents, application forms, approval and allotment of bonds to the market regulator.
ASK Property Investment Advisors (ASKPIA), the real-estate private equity arm of ASK Group announced on Wednesday, Sep 12, an investment in an affordable luxury residential project in the heart of Bengaluru city. The project which is around Rs.450 crore, is located in central Bengaluru’s prime area opposite the 240 acre Lalbagh green space. ASK Fund’s investment will be to the tune of Rs. 100 crores in the Special Purpose Vehicle set up for executing this project.
Century Real Estate has reportedly raised Rs 40 crore from Reliance Capital and will raise another Rs 160 crore from the Anil Ambani promoted firm for its upcoming residential projects. According to reports the deal was closed last week and will be a structured transaction, which includes private placement of non-convertible debentures (NCD) and equity component.
MCHI-CREDAI’s 6th India Realty Expo will be held at The Cumberland, Great Cumberland Place, London, next to Marble Arch Station, Behind Oxford Street; 15 & 16 September, 10 am to 7 pm. The event has been planned so as to provide the NRI community in the U.K. with some of the most ‘happening’ real estate investment option across India’s Urbs Prima Indies – Mumbai City, suburbs and its peripheral areas including sister cities like Thane, Navi Mumbai, Dombivli Kalyan, Mira Virar among others – as also realty options from the neighbouring city of Pune and select properties from the land of Sun, Sand and Surf – Goa.
Further insight on the current state of the Indian economy will be provided with the release of July industrial production data on Wednesday 12th and August WPI (inflation) on Friday 14th. Recent news flow has generally been a little downbeat but the picture is not a uniform one.
Tata Realty and Infrastructure Ltd (TRIL) is planning to raise two India-focused realty funds, including a $500 million international fund and Rs 300 crore ($55 million) domestic fund, according to reports in a section of media.
DB Realty has appointed Vipul Bansal as Chief Executive Officer with immediate effect. The new CEO will oversee real estate and hospitality verticals of DB Group, the company said in a release.
More than 1,000 registered attendees from around the world will converge in Shanghai next week for the 2012 ICSC Retail Real Estate World Summit. More than 70 speakers around the globe from companies ranging from Apple and Walmart to India-based K Raheja Corp. will be discussing the latest trends transforming the international retail real estate industry.
Kerala Chief Minister Oommen Chandy has said that investors, who attend the Emerging Kerala meet, with real estate motives will have to return empty handed. “Not an inch of land will be sold for projects approved in the meet. Can you think any secret business deal is possible in Kerala?,” he asked the editors of various media organisations in the state during an interaction ahead of the Emerging Kerala meet on Thursday, Sep 6.