Real Estate sector set to get Rs. 32000 crore investments
Indian real estate market news-II
Indian realty has emerged as the apple-eye of domestic and overseas investors as listed and private equity funds are looking to pump in more than Rs.32000 crore in the real estate India, a new report says. The transparency in real estate India has contributed to the increase in interest by domestic and financial institutions, resulting in greater availability of financing for real estate developers an ICIC Property Services-Technopark paper said. This has provided to be the right impetus for listed funds such as Hiranandani Group’s Hirco, unitech corporate parks and Indiaballs Dev Property Development.
GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Infrastructure, has tied up finances for the additional investment of Rs.718 crore into the development of its Greenfield airport in Hyderabad. The additional facility of Rs.718 crore comprises rupee debt of Rs.200 crore and an ECB of Rs.518 crore.
-Sant Chatwal to open 7 star hotel chain in India.
Sant singh chatwal, a sikh Indian-American businessman, will invest Rs.4500 crore by 2009 for setting up a chain of hotels, including 7 stars in India. All hotels would be state-of-the-art with different food restaurants, discotheques and conference rooms. “We want to create convention centers with a capacity for 2000-3000 people in every hotel”. Chatwal, president and CEO of Hampshire Hotels and Resorts (HHR), said. “We are doing master planning for phase-I, which includes high-end 7-star hotels in major cities like Delhi/ Noida , Mumbai and Bangalore and dream hotels in Kochi, Hyderabad and Chennai, “he said.
Due to all those reason Indian real estate sector has emerged one of the top most investment market in real estate India.
Courtesy-E.T.dtd.12-03-07
April 10th, 2007 at 3:30 am
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