The cash strapped realty companies can have a breather in budget for 2011-12 as the Finance Minister is expected to make announcement of a guarantee corpus for banks on realty lending. Track2Realty has learnt that the banks will get this guarantee corpus of Rs. 1000 crore to lend for housing projects.
Italian fashion brand Alcott that had inked a franchise agreement with DLF Brands to enter India in 2008, is mulling to convert their partnership into a joint venture.
DLF Brands, part of real estate company DLF, is venturing into the home furnishing segment. It aims to launch 30 home solution stores under the brand name ‘Pure Home+Living’ in the next three years at an investment of Rs 200 crore.
Vigneshwara Developers has claimed to redefine the concept of Central Business District (CBD) with the launch of Smart Office Home Office (SOHO) in sector 74 of Gurgaon. SOHO offers a combination of the comfort of home with the present-day needs of office, all under one roof.
Within a week of launching the super-luxury Nitesh Logos, Bangalore-based premium property developer Nitesh Estates Ltd., now announces the launch of Nitesh Mall, in the up-market Indiranagar. This mall built with world-class amenities is going to offer great shopping and entertainment experience, making it the most sought after mall in the Central Business District of Bangalore.
Mumbai city has been known to receive heavy rainfall during the monsoons. Being a coastal city, Mumbai needs to understand the requirement for costal construction and heavy rainfall. More than 80% of the pre-1990s construction is in distress because of poor quality material and harshness of environment. Despite all this, Mumbai was one of the last cities to take up blended cement that helps fight problems related to waterproofing.
Pune based Phadnis Infrastructure, a group engaged in infrastructure development, hospitality business, real estate, power and telecommunication is off to a flying start in the infrastructure business. Phadnis Group has bagged a contract to build the prestigious ESIC Nursing College and Auditorium at ESIC Hospital, Indiranagar – Bangalore. The total project cost of this project is around Rs.62 Cr and the project is likely to be completed by March 2012.
Nearly all the real estate developers, a whopping 96 per cent, across the country are cribbing for the sectors’ continued under representation in the Union Budget over the years.
Noting that real estate prices in Bihar had touched the level of Gurgaon in Haryana, Chief Minister Nitish Kumar today said the state government was keeping a close surveillance on the price spiral.
Sunil Mantri Group, a developer of residential and commercial spaces across 14 cities in India, has announced the launch of its landmark residential project Mantri Serene, nestled against the backdrop of the Aarey hills in Goregoan (East), Mumbai.