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This tracker has been compiled from external sources and does not necessarily reflect the views of the company. Links provided will take you to the full articles appended at the end of the file.

© 2008 Zenith Optimedia.

 

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35. Uppal To Invest Rs 8,000 Cr In 4 SEZs And 2 Hotels

28 April, 2008

 

Real estate firm Uppal Group is planning to invest over Rs 8,000 crore in the next five years to develop four special economic zones and two hotels in the north India.

 

The Delhi-based company has already received the notification for two SEZs in Gurgaon, while it has got the formal approval for two SEZs planned in Uttar Pradesh.

 

"Infrastructure work has already started on the 263 acre multi-service SEZ in Gurgaon where we will develop 22 million sq ft in different phases," Uppal CEO (SEZs and Hotels) Gian Bansal told the media.

 

The project cost of the SEZ, including land, is Rs 5,000 crore, he said, adding that the project would be completed by 2013.

 

The construction work on another SEZ in Gurgaon is expected to start in the next three months.

 

"We are developing an IT/ITeS SEZ in Gurgaon spread over 87 acre of land with built up area of nine million sq ft. The project cost is about Rs 1,500 crore," Bansal said, adding that this project would be completed in the next three years.

 

Uppal is also planning to develop two more SEZs in UP over 26 acre of land each.

 

"We have got the formal approval for two IT SEZs in UP and notification is under process," he said. The construction on both the SEZs -- one in Noida and another in Greater Noida -- would start in five months. A total investment of Rs 800 crore would be made on these two projects.

 

When asked about the source of funding for SEZs, he said it would be done through internal accrual, debts and private equity at project level.

 

 

 

36. Parsvnath To Build Luxury Mall In New Delhi

3 May, 2008

 

Parsvnath Developers Ltd (PDL) has acquired an 1.18 acre plot in Connaught Place (Delhi) for Rs 200 crore to build a new luxury mall complex with office space. The land has been acquired from Mahajan Industries.

 

The company acquired the plot — situated at KG Marg — through a recently formed subsidiary Primetime Realtors Pvt Ltd and the proposed project is expected to be completed in about 24 months at an overall investment of Rs 300 crore (including land and construction costs). The development activity would commence in the next three-four months.

 

“We have already made the payment for the land. At present, the floor area ratio is pegged at 1 lakh sq ft, but under the new Master Plan it is expected to be close to 1.65-1.70 lakh sq ft,” Mr Pradeep Jain, Chairman, Parsvnath Developers, told Business Line.

 

Asked about the rental expectations, Mr Jain said that the office space side would be Rs 500-600/sq ft, while for the retail space it is between Rs 1,000-1,200 for a sq ft.

 

The luxury mall would showcase major luxury brands across categories such as apparel, jewellery, accessories, home and electronics.

 

 

 

37. Berkeley Group Forays Into Real Estate Business

21 April , 2008

 

City based Berkeley Group on Monday announced to foray into real estate business with the launch of its new company Berkeley Realtech Limited which will provide commercial, retail and industrial space on rental basis to corporates and further said that it was aiming for Rs. 300 crore of business in the first year of its operations.

 

"We will help the corporates in finding suitable space on rental basis in the tricity of Chandigarh, Mohali and Panchkula as per their requirements," Berkeley Realtech Limited, Director, Sanjay Dahuja told reporters here today.

 

The company will also assist corporates starting from personal verification and surveying of site, proper handling of legal procedures till signing of the final agreement, he said.

 

The company would charge one month rental from both landlord and occupant as commission for the deal, he said.

 

"We have already identified 400 such locations which are available with us and we are further looking for more space so as to cater to the emerging requirements of companies," he said.

 

"The tricity of Chandigarh, Mohali and Panchkula is gaining immense momentum and becoming an economic hub of Punjab, Haryana and Himachal Pradesh. As a result of it, several companies are quite keen on establishing their base make so as to mark their presence in this region," he said.

 

Berkeley Group, having interest in automobiles, insurance, finance, is looking to increase its turnover from Rs 400 crore to Rs. 1000 crore by end of 2008-09, "We are expecting our sales from other businesses to increase from Rs. 400 crore to Rs. 700 crore and balance Rs 300 crore would come from realty business," he said.

 

 

 

38. L&T To Develop Rs 3500 Cr Commercial Complex

21 April, 2008

 

Engineering and construction major Larsen & Toubro on Monday said it will develop an integrated commercial complex in Navi Mumbai at a project cost of Rs 3,500 crore, its single largest investment in the real estate development sector.

 

Besides, it would also develop Seawoods-Darave Railway station over the next three years, the company said in a filing to the Bombay Stock Exchange.

 

The property development division would build the integrated commercial complex at Seawoods railway station, Navi Mumbai over 40 acres of land. The proposed project is expected to be completed over the next five years, the company added.

 

Once this project is commissioned, L&T would develop in-house capabilities to build and operate such transit oriented developments around railway stations.

 

The scope of development would consist of a modern railway station, large format retail and entertainment space, multiplexes, office complex and premium category hotel and service apartments.

 

Cushman Wakefield and Jones Lang Lasalle Meghraj were engaged for real estate advisory services for the project.

 

Shares of the company were trading at Rs 2,848, up 2.59 per cent on BSE in afternoon trade.

 

 

 

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