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NTC in talks with NBCC to sell land (aggregating over 230 acres spread in Bangalore, Mumbai, Kanpur and Coimbatore)
August 26
National Textile Corporation (NTC) is in talks with another public sector company, National Buildings Construction Corporation (NBCC), for selling its land assets across the country. NTC is looking at selling of its surplus land aggregating over 230 acres spread in Bangalore (38 acres), Mumbai (45 acres), Kanpur in Uttar Pradesh (135 acres) and Coimbatore in Tamil Nadu (19 acres). However, the Ministry of Textiles, Government of India, that manages NTC, has stated that idle lands of NTC would not be sold in haste and transparency would be maintained at all decision making levels.
Source: Economic Times
RE/MAX India in expansion mode (the company has appointed franchisees for seven regions)
August 23
RE/MAX India is expanding its operations in India. The company has appointed franchisees for seven new regions. RE/MAX has recently entered into real estate and brokerage business in India and has operations in nine regions. The company intends to recruit and train real-estate professionals to create a network across the country.
Source: Business Line
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 Purvankara on for Lankan talks, post civil war (proposes to launch a high-end villa project on 26 acres of land on Colombo's airport road)
August 18
Real estate developer Puravankara Projects Ltd (PPL) of Bangalore is planning to start a high-end villa project on 26 acres of land on Colombo's airport road and a service apartment and office complex amounting to four-lakh square feet of space in downtown Colombo. PPL, which had acquired lands in Sri Lanka in 2006 at low rates, has now decided to capitalise on increasing demand for property in Sri Lanka following the end of the civil war.
Source: Economic Times
On radar of PE funds: affordable housing (projected market size of over Rs3,00,000 crore by 2011)
August 17
Dedicated real estate funds are now showing interest in the affordable housing segment. Provident, the affordable housing arm of Puruvankara, says that it is open to divesting 20-25 percent equity at the project level to private equity. Unitech is holding talks with private equity players for investments in Uni Home, its low-cost, affordable housing initiative. A report by Knight Frank on affordable housing projects a market size of over Rs. 3000 billion by 2011.
Source: Business Line
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BSNL plans comeback by developing realty (BSNL has properties in 3,500-plus towns)
August 15
Bharat Sanchar Nigam Ltd (BSNL) is planning to develop and rent out its real estate holdings across India. BSNL also has the largest land bank among state-owned companies, with properties in 3,500-plus towns. BSNL has approached the Government of India for approval to put its land bank to commercial use. BSNL could also consider hiving off the land bank into a separate entity.
Source: Economic Times
Developers relaunch, resize luxury housing(to draw customers)
August 12
Real estate developers are relaunching and resizing luxury housing projects to draw customers as demand in the real sector is gradually increasing. QVC Realty Private Ltd, which has built villas in the price range of Rs1.5-3.4 crore in Bangalore, is introducing new, smaller homes at Rs72-94 lakh in the same project. Lodha Group, Unitech Ltd and Ajmera group are devising strategies to revive their luxury home projects in Bangalore, Delhi and Mumbai.
Source: Mint Bangalore Top
Premier Inn plans 80 hotels (forms joint venture with real estate firm Emaar MGF)
August 10
Premier Inn of the UK is planning to open around 80 hotels in India in the next 10 years. The hotel chain has planned investments of Rs. 40 billion to set up three-star hotels at svarious locations in India with an overall capacity of 9,700 rooms. Premier Inn has formed a joint venture with real estate firm Emaar MGF.
Source: Business line
Builders find more room for service apartment in metros (with the demand for service apartments is estimated to be growing at 100 percent per annum)
August 10
Real estate companies are planning to focus on developing service apartments in major metros to attract business travellers and tourists. The demand for service apartments in the country is estimated to be growing at 100 percent per annum at present. Demand for such apartments is picking up at a fast pace in the national capital region on account of the forthcoming Commonwealth Games in 2010. Service apartments are small fully furnished apartments with a small kitchen, washing machine and bath.
Source: Financial Express
DLF plans 16 million square feet residential place (in 2009-2010)
August 1
DLF Ltd of New Delhi is planning to launch 16 million square feet of residential space in 2009-2010. It sees reasonable demand revival.
Source: Economic Times
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