Nivedita Mookerji, April 11, 2011
The real estate sector is disorganised, despite being a major contributor to the country’s growth. The National Association of Realtors (NAR) in India is working with the industry and government to introduce global best practices in the system. P S N Rao, chairman, National Association of Realtors—India, spoke on the road ahead.
No correction in real estate in coming quarters
April 11, 2011
An interview with Colin Dyer, Global chief executive officer, Jones Lang LaSalle.
Edited excerpts: What are your concerns about the India market?
India mostly remains a domestic market. Growth is mostly driven by domestic demand. Earlier, funds and investors were finding it difficult to buy assets. Though the Indian government is trying to regulate the market, its unorganized nature challenges foreign as well as domestic investors and funds. Problems with clear titles and legal hurdles also make the market opaque.
Branded homes for deep pockets
Raghavendra Kamath & Swaraj Baggonkar, Mumbai, April 11, 2011
Global hotel firms and domestic realty firms come together to market the latest in high living in the country.
Foreign Direct Investment
India still 2nd best FDI spot: Nomura
Mumbai, April 11, 2011
The Financial Express | The Economic Times | Financial Chronicle | Business Standard | The Tribune | The Pioneer | The Times of India | Mint | Hindustan Times | The Statesman
Nomura India has said despite the recent massive slump in FDI inflows, India remains the hottest investment destination in the world after China and inflows will return to the pre-crisis peak levels by early 2012. Foreign direct investment (FDI) inflows plunged 25 percent in April-January period to USD 17 billion year-on-year. The figure was more alarming in January when it nose-dived 48 by percent to USD 1.04 billion.
“Of the USD 12-billion decline in FDI inflows between 2008 and 2010, around 60 percent was due to weak inflows into service spaces like computer software and hardware, financial services, banking, and construction,” Nomura India Vice-President and economist Sonal Varma said.
Berggruen Hotels to invest $227m in India
Mumbai, April 11, 2011
Berggruen Hotels, a mid-market business hotel chain funded by the USbased Berggruen Holdings Inc, plans to invest around $227 million (Rs 1,015 crore) to set up 43 hotels under brand Keys in India by 2014. Of the total investment, $94 million is received as equity from Bergrruen Holdings and the balance is raised through debt from various sources, including a consortium of banks led by Federal Bank, a top company official said.
More hotel rooms needed for foreign tourists: Sahay
Sunit Dhawan, Gurgaon, April 11, 2011
India is able to attract only 0.5 percent of the total global tourists and even to accommodate them, the country is short of 1.5 lakh hotel rooms…if we fix a target of 1 percent of global tourists, we will need 5 lakh more hotel rooms. This was stated by Union Minister for Tourism Subodh Kant Sahay while interacting with media persons at the launch of a four-star hotel in Sector 44 here on Friday.
Global majors eye mid-sized hotels
Sangeetha G, Chennai, April 11, 2011
The economic growth and growing middle class customer base is wooing global hospitality majors to India. And interestingly, the hotel groups find the evolving market more conducive for mid-segment brands than the luxury ones. Those that are upbeat on the India growth story, include Hyatt Hotels Corporation, Hilton Worldwide, Marriott Hotels, Starwood Hotels and Resorts Worldwide and Carlson Hotels.
Of the 38 projects being developed by Hyatt under six brands, 14 are mid-segment ‘Hyatt Place’, which is designed for the “busy lifestyle of multi-tasking business traveler”. These hotels are coming up mostly in tier III cities like Mundra, Aurangabad and Mysore.
Carlson total portfolio jumps to 42 hotels in India
Mumbai, April 11, 2011
Continuing its expansion of Radisson hotel brand in India, global hospitality and travel company Carlson today announced the signing of the 117-room Radisson Hotel Kandla. With this Carlson has increased its Radisson portfolio in India increases to 42 hotels.
Hotel chains go on an expansion drive
Neha Pal, Vishakha Talreja, New Delhi, April 11, 2011
The Financial Express
It’s not only foreign players which are entering Indian hotel market and bringing new brands but the home-grown players too are in an expansion mode, taking the international brands head on. After the Leela Chankyapuri’s much-awaited April launch, the hotel chain has already firmed up plans to invest another Rs 2,500 crore to open properties in Agra and Jaipur completing the golden triangle and also in Chennai and Kerala. “We will soon open a property in Chennai followed by Agra, Jaipur and Ashtamudi near Kerala.
U.P. allocates over 7,000 crore for new roads
Lucknow, April 11, 2011
The Uttar Pradesh Government has allocated Rs. 7,099 crore for construction of roads in the State in the current fiscal.
On the road to comfort
Vineet K Singh
Hindustan Times (Delhi edition)
Gurgaon is the sixth largest city in Haryana and is the industrial and financial centre of the state. Located 30 km south of Delhi and about 10 km from Dwarka, it is considered to be the best city in India to work and live in by a lot of people. Though the area faces regular power cuts, some of the problem has been solved of by the presence of private developers, as most of these new apartments have 24-hour water and power backup. Golf Course Road, Gurgaon, is a prime residential area. According to a survey by 99acres.com, well known developers such as DLF, Vipul, Emaar MGF and Parsvnath have launched their projects on this stretch.
Dwarka Gurgaon link expressway
A K Tiwary
The Times of India (Delhi edition)
It’s boom time with development taking place near the Dwarka-Gurgaon Link Expressway (Northern Peripheral Road or NPR). Land around 16km stretch has already been acquired out of the total 18km stretch and work has been allotted and work near the Basai village has already commenced. Just like the 1990s saw focus on providing access to the Maruti Udyog factory along the old highway to the current NH 8, the same exuberance is expected in the case of the NPR.
Developers in these sectors are Emaar MGF (Sectors 107, 102, 103, 99, 82, 84), Sobha Developers (Babupur and Bajghera), Orris Infrastructure, Antriksh Group, Sidhartha Group (Sectors 95, 103), Puri Construction (village Chauma), BPTP (Sectors 99, 102, 104, 113), Raheja (village Pawla), Uppal Housing (Sector 99), Mahindra Lifespaces (Sector 110A), Bestech (Sectors 81, 82, 92), Vatika (Sectors 82, 83). Recently, Sidhartha Group launched Estella in Sector 103.