DLF Hotels ties with Four Seasons Hotels and Resorts

DLF Hotels, the hospitality arm of DLF, has reached an agreement with Four Seasons Hotels and Resorts to operate a proposed luxury hotel at DLF Golf Links, in Gurgaon.

Targeted to open by end 2010, Four Seasons Hotel Gurgaon will be located at the DLF Golf & Country Club in DLF City, Gurgaon. The 230 room Hotel will overlook the picturesque 18 - hole, Arnold Palmer Signature Golf Course, and will feature several dining options, a full feature spa, as well as facilities for meetings and functions.

Four Seasons is dedicated to perfecting the travel experience through continuous innovation and the highest standards of hospitality. Currently with 74 hotels in 31 countries, and more than 25 properties under development, Four Seasons continues to lead the hospitality industry with innovative enhancements, making business travel easier and leisure travel more rewarding.

Man Industries + Phoenix Mills

Man Industries India has received in principle approval from the board of approvals for setting up of IT SEZ at Indore (Madhya Pradesh).

Phoenix Mills through its wholly owned subsidiary (Pallazzio Hotels & Leisure) has signed a hotel management agreement with Shangri-La Hotels and Resorts to operate and manage their upcoming hotel at lower parel in Mumbai.

This project will be the first of its kind in the island city, centrally located in the rapidly developing lower pare1 area. Shangri La Hotels and Resorts are regarded as one of the world's finest hotel management companies, garnering awards and recognition from prestigious publications and industry partners.

Parsvnath launches Prideasia - Chandigarh

Parsvnath Developers has announced the launch of Parsvnath 'Prideasia', a strategically located project in Chandigarh. With a realization value of approximately US$ 1 billion (Rs 4100 crore), Parsvnath 'Prideasia' is an exquisitely designed luxurious township providing for aristocratic living. Located amidst Sukhna lake, golf course, an upcoming five star hotel and in the backdrop of Shivalik range, an investment in this project would provide much more value to its resident than just a luxurious and comfortable living.

The revenue from this project would be realized over a period of three years, including current financial year. Parsvnath 'Prideasia' is a joint venture between the company and Chandigarh Housing Board. The project has a saleable residential area of 38.5 lakh sq.ft a commercial area of 2.7 lakh sq.ft and a club, sports centre and a water sports complex of 2 lakh sq.ft.

The project is being jointly marketed through marketing arms of the company and various banks and the amount would be collected in an escrow account. 30% of the gross receipts from the residential segment would go to Chandigarh Housing Board and balance 70% would come to the company. The realisations from segments other than residential would come entirely to the company.

Enveloped with large stretches of green precincts and surrounded by water bodies, Parsvnath 'Prideasia' is a premium accommodation ranging from one to five bedroom air-conditioned apartments with their cost ranging approximately between Rs 52 lakh to Rs 3.8 crore. The project will be launched phase wise with 359 units out of a total of 1314 units being launched in Phase 1. The estimated sales value of Phase 1 of the project is Rs 750 crore. It will also showcase exclusive high-end villas of 8660 sq ft costing approximately Rs 6 crore each.

HDFC International Real Estate Fund

Housing Development Finance Corporation has announced the closing of its first sponsored international real-estate fund, HIREF International LLC at US$ 800 million. This shall make it one of the country's largest international real estate funds. The 9-year close-ended fund, open for subscription from only foreign investors was privately placed and was subscribed to by 28 investors.

With this international real-estate fund, HDFC will be the largest player in the real estate private equity space in India.

List of Best Housing Finance Companies in India

We have compiled a list of Approved Housing finance Companies in India with whom you can do business in peace. Their are many others but we recommend the following after a careful research.

• Can Fin Homes Limited No. 29/1, 1st Floor, Sir M.N. Krishna Rao Road, Basavangudi, Bangalore-560 004. KARNATAKA.
  
• Cent Bank Home Finance Limited 9-Arera Hills, Mother Teresa Road, Bhopal-462 011. MADHYA PRADESH
  
• Dewan Housing Finance Corporation Ltd. Warden House (2nd Floor), Sir P.M. Road, Fort, Mumbai - 400023. MAHARASHTRA.
  
• DHFL Vysya Housing Finance Ltd. S-401, 4th Floor, Brigade Plaza, Anand Circle, Bangalore - 560 011, KARNATAKA
  
• GIC Housing Finance Ltd. Universal Insurance Building (3rd Floor), Sir PM Road, Fort, Mumbai-400 001. MAHARASHTRA. GUJRAT.
  
• GRUH Finance Ltd. "GRUH", Netaji Marg, Nr. Mithakhali Six Road, Ellisbridge, Ahmedabad-380 006. GUJARAT.
  
• Housing and Urban Development Corporation Ltd. ( HUDCO ) HUDCO Bhawan, India Habitat Centre, Lodhi Road, New Delhi-110 003.DELHI.
  
• Housing Development Finance Corporation Ltd. ( HDFC ) Ramon House, H.T. Parekh Marg, 169 - Backbay Reclamation, Church Gate, Mumbai-400 020. MAHARASHTRA.
  
• ICICI Home Finance Company Ltd. ICICI Bank Towers, Bandra Kurla Complex, Mumbai-400 051. MAHARASHTRA.
  
• IDBI Homefinance Ltd Kanchenjunga Building, 18-Barakhamba Road, New Delhi-110 001. DELHI
  
• Ind Bank Housing Ltd 66-Rajaji Salai, Chennai-600 001. TAMILNADU.
  
• LIC Housing Finance Ltd. Bombay Life Building, 45/47-Veer Nariman Road, Mumbai-400 001. MAHARASHTRA.
  
• PNB Housing Finance Ltd. Antriksh Bhawan-9th Floor, 22-Kasturba Gandhi Marg, New Delhi-110 001. DELHI.
  
• Sundaram Home Finance Ltd. 21-Patullos Road, Chennai-600 002. TAMILNADU.
• Weizmann Homes Ltd. 26-Gobind Mahal, 86B-Netaji Subash Road, Mumbai-400 002.MAHARASHTRA.
  

Do let us know your experience. Thanks.

Real Estate Stocks Crash on Dalal Street

We have been telling that the Realty price have to correct and the correction is far more than we had expected. Analysts on Dalal Street have recommended an Aggressive SELL on the Indian Real Estate Sector. IPOs of day time looters such as Purvankara and IVR Urban Prime barely managed to subscribe and are quoting way below their issue prices.

The problem with these real estate companies is they behave like they are the King and land lords. That will not work in Free Markets. The street wants companies to generate cash. You cannot be an arrogant land lord, if so then just stay private. Look how Bangalore based Sobha Developers was hammered downwards after its QoQ growth fell - implies the company is not able to sell as many apartments as it used to. [Stock Down to Rs 730 from Rs 1,000]

Parsvnath Developers, Akruti and Omaxe - Delhi NCR Developers. Their stocks are also quoting below their IPO prices. Ansal Properties and Infrastructure has hit a new low. Unitech is down 30% to Rs 440 while DLF is managing just above its IPO price at Rs 539.

DLF also launched its first IT SEZ at Nagpur, Maharashtra on 140 acres of land. This SEZ project will involve an investment of about Rs 1000 crore. The IT Park is expected to be operational in a period of 3 years and being an IT SEZ, it would cater to all the international and national IT/ITES companies.

All this means, more and only more downside to the artificial Real Estate Saga in India. Commercial Real Estate will not correct as much as Residential due to Retailers demand.

DLF Completes India's Largest Real Estate Deal

DLF is set to buy about 38 acres of land in New Delhi for more than Rs 1600 crore. The deal to buy Swatantra Bharat Mills from DCM Shriram Consolidated, about 4-5 km from Delhi's central business district, will be the largest private sector land deal in the country.

The real-estate developer has already bought about 25 acres of land adjacent to the plot and may invest Rs 11000-12000 crore to develop an integrated township.

Indian Realty stocks have taken a severe beating along with global indices which are bleeding due to American Mortgage crisis. IVR Prime Urban Developers, another Shady Real Estate Developer from Hyderabad, which looted retail investors money at Rs 550 / share is now quoting at mere Rs 410. Orbit Corp, IndiaBulls Real Estate, Sobha Developers, GMR Infra all the stocks have lost more than 6% in today's trading.

Corporate Looters Hijack Government's Panel

The Government of India has vested interest in getting the SEZs approved to rich private players like Reliance and DLF. Look at the Government's hypocrisy here - They put a Pro-Poor and Citizen friendly face in the parliment and outside they encourage corporate raiders like Ajay Nijhawan of Reliance SEZ to form panels under export promotion council.

Infosy Technologies a Slave Trading IT Company from Bangalore has secured approvals for 2 more IT SEZs near Hyderabad. This is the same company which is on recruitment freeze as soon as the dollar depreciated against Indian rupee. When HP can hire and get better work done from India without SEZ, why does Naryana Murthy want LAND ?

From Naryana Murthy to Mukesh Ambani in Corporate India and H.D.Devegowda to Lalu Yadav, every Politician, Bureaucreat utter only one word - Land to which our Honorable and esteemed PM Dr. Manmohan Singh is a mere spectator.

Opto Circuits India receives formal approval

Opto Circuits India has received formal approval from the ministry of commerce and industry, department of commerce, Government of India for developing a SEZ at Nanjanagud near Mysore.

The company is likely to establish its new manufacturing facilities in the proposed SEZ. It will also focus on establishing manufacturing facilities for various health care related hardware electronic products.

The Land Bank between Bangalore and Mysore on the Nandi Infrastructure Corridor is eyed by Devegowda and family who have not got SKIL Infrastructure to back them.

SKIL - Sea King Infrastructure Limited is Nikhil and Bhavesh Gandhi promoted company which developed the Navi Mumbai SEZ. However, SKIL is now being remotely managed and controlled by Mukesh Ambani and Anand Jain.

Rising Rupee will Correct Bangalore Residential Real Estate

Dirty and Polluted Bangalore will see an en end to increasing Real Estate prices. I have said this in the past [Search or Go Through the Archives] and I will will say this again - Property prices are exuberant and the correction which was very very essential has just begun.

You have to think outside the box.

• RBI restricted credit to cool down the housing market. Raised Interest Rates on Home Loans.
  
• IT companies in India as famously known as Slave Traders have lost their advantage of differential currency. They are now on a hiring FREEZE or JIT [Just in Time] Hiring. If you write managed code then you know about JIT compilers :-)
• IT companies won't give that liberal hike this year. It will be highly restricted.

In a way of speaking, the consumers of Real Estate Developers are choked. Bangalore is just not about IT Pros, Political Mafia and Corrupt Bureaucrats, it also has School Teachers, PSU and Defence sector Employees, Bankers etc who all have moderate to low income.

More than Bangalore, you will see big corrections in places like Sonepat near Delhi where prices had run up on pure speculation.

Indian Realty Companies Most Expensive in the World

Standard & Poor's, just a while ago released a report in which they reveal that Real Estate stocks in India are the most expensive in the world even as they give lower returns than most of the emerging as well as developed markets including China, Singapore, Hong Kong and Australia. This revelation has come in the backdrop of a seven-year bull run in the global property stocks coming to an end in the second quarter of 2007.

P/E ratio for Indian stocks was highest among all countries, while return on equity (ROE) was second lowest among all emerging markets and lower than most of the developed markets.

The S&P study put the last 12-month P/E for Indian stocks at 209.30, against just 29.69 in China, 39.90 for the US and 3.18 for the UK. On ROE front, Indian stocks gave a 7.15 per cent return, lower than the global average of 7.3 per cent.

The rally in the emerging market realty stocks, appears to be mostly driven by the Chinese stocks with top five global gainers for the quarter coming from China.

Globally, property stocks fell by 4.5 per cent on an average in the quarter as measured by the S&P Citigroup Global Property Index with sharp falls being registered by the stocks from the US, Europe and other North American markets.

Top five performers were Medinet Nasr Housing from Egypt, China Vanke Co, Beijing North Star Co and Shg Lujazui from China, besides Amata Corp from Thailand.

Standard & Poors Index Services Vice President Alka Banerjee [An Indian] said,

A prolonged seven-year stretch of continuous gains, leading to excessive valuations, decreasing yields and a legitimate desire for profit taking caused a sell off in the sector.

REIT indices for Europe, US and the rest of the world fell. Also in such market conditions, Bangalore based Purvankara Projects is planning to raise $250 Million at a P/E Valuation of more than 80.