Government to let Indian Realty Developers take ECB Route

Faced with cash crunch, Indian realty developers are lobbying hard with the Government to make External Commercial Borrowing easier for them.

Current ECB and FCCB norms make it tough to borrow without diluting equity said a Bangalore based developer currently financed by wealthy Doctors from the US and the UK. With ECB borrowing he will have access to cheaper loans but however he was quick to point out that this is likely to benefit only the large developers.

Tags: India Real Estate, SEZ India, Loans

Commercial Real Estate prices Sky Rocket in India

I am sure you are aware of the Supreme Court decision to seal all commercial establishments in residential areas. My sources tell me that lease and rental prices in South and East Delhi have shot up by 70% in one month. Fashion designers who were paying Rs 60,000 as monthly rental after relocating to East Delhi mall are paying around Rs 150,000 per month said another source.

Meanwhile, in Bangalore / Bengalooru the IT capital of Asia, legal commerical property prices rose by 10% in a day in Jaynagar said one of my trusted aides. The BMP has started a drive to hunt for such tainted residential-commerical properties. A property owner spoke on condition of annonymoity, that this is a move by the corrupt government to make money in the booming real estate. Lot of speculators have also entered the market making it difficult for true businessmen to conduct business. This should end soon or our economic boom itself will end.

Tags: SEZ India, India Real Estate, Reliance SEZ, Commercial Real Estate

Breaking News: No More IT SEZs in India

Commerce Secretary, Mr, G K Pillai, said in a speech that, they will not approve more IT SEZs due to the controversy surrounding land acquistion. However, if a company comes with an application after land acquistion, then a formal approval maybe given. We were the first one to report that HP had given up their IT SEZ plans in Bengalooru, India.

In another announcement, SEZs will get 100% Income Tax rebate during the first 5 years of operation and 50% during the next 5 years.

Trump Real Estate to be in India

New York real estate tycoon, Donald Trump with a passion for downtown towers is all set to invade India. According to my insiders, recently his kids working for him were in India and the Emerging Economy watch who seems to be an ardent follower of Donald Trump has more views.

Parsvnath Developers Ltd SEZs in India

Here is an exclusive list of Parsvnath Developers Ltd SEZs which have received in-principal approval from state and central governments.

Parsvnath Developers Limited Tattanaram Villages, Ranga Reddy, Hyderabad, AP Biotechnology 10.11 Hectares

Parsvnath Developers Limited Kundli, Sonepat, Haryana Food Processing Industries 100 Hectares

Parsvnath Developers Limited Indore, MP IT/ITES 30.76 Hectares

Parsvnath Developers Limited Pune, Maharashtra Automotive & Auto Component Industry 100 Hectares

Parsvnath Developers Ltd Jaipur-Ajmer Raod, Jaipur, Rajasthan Gems & Jewellery 45.6 Hectares

Parsvnath Developers Limited Kancheepuram, Tamil Nadu Multi-Product 1000 Hectares

Parsvnath Developers Limited Sahastra Dhara Road, Dehradun, Uttaranchal IT/ITES 14 Hectares

Parsvnath Developers Limited Agra, UP Leather & Leather Products 100 Hectares

Parsvnath Developers Limited Moradabad, Uttar Pradesh Handicraft 100 Hectares

Total Area to be developed by Parsvnath in SEZs is 1,500 hectares.

Burj - The Tallest Tower in the World

One of my friend from Dubai sends this picture. It is the picture of Burj, when completed will eb the tallest tower in the world. It will be much taller than Taipei 101. Burj is being built by the Emaar group.

Emaar groups interests in Indian Land bank are as follows.

• Emaar MGF Land Private Ltd. Shikohpur, Distt. Gurgaon, Haryana IT/ITES 100
• Emaar MGF Land Private Ltd. Gurgaon, Haryana IT/ITES 28
• Emaar MGF Land Private Ltd. Villages Kherki Daulla and Sihi, District Gurgaon, Haryana IT/ITES 20
• Emaar MGF Land Private Ltd. Village Boda Kalan, Distt Gurgaon Multi-Product 4000
• Emaar MGF Land Private Ltd. Jahajpur, Distt Gurgaon, haryana Multi-Product 2000
• Emaar MGF Land Private Ltd. Lakhnaula, Distt Gurgaon, Haryana IT/ITES 240
• Emaar MGF Land Private Ltd. Machigarh, Bhupani, Distt Faridabad, Haryana Multi-Product 1000
• Emaar MGF Land Private Ltd. Banskusla, Gurgaon, Haryana Auto Ancillary 100
• Emaar MGF Land Private Ltd. Bans Hariya, Gurgaon, Haryana IT/ITES 120
• Emaar MGF Land Private Ltd. Naweda Fatehpur, Gurgaon, Haryana Gems & Jewellery 40
  

Will they build any taller than Burj in India ?

Tags: Burj, Real Estate, Dubai, Indian Malls

From Tech Startups to Nanocity

Sabeer Bhatia, the pampered Hotmail founder is now venturing into all sorts of deals where Technology doesn't matter.

Last month we saw him become an Online Travel and Holiday Booking agent by rekindling his Arzoo.com (A failed venture after Dot Com bust).

Now he has all set his sight to build a Nano City. What ? Yes he has turned into a Real Estate developer. Is he also a Land Shark ? Maybe ? I guess its mainly because when you stay in India, you f*ck your creativity and all day you think is how to get rich. Good infrastructure is necessary, but a better entrepreneurs and a technocrat is much more needed.

Tags: India Real Estate, SEZ India, Sabeer Bhatia, NanoCity

Film makers come to rescue of Farmers in India

A documentary film has been made on the SEZ Land sharks and corrupt state governments that are adamant to push the SEZ reforms at the cost of farmers livelihood. The documentary made by a Pune-based producer shows how the farmers already weighed down by debts are being separated from their lands for setting up of special economic zones (SEZ).

The film was exhibited for a select audience in Pune . The film covers the issues of farmers suicides, their forced eviction from their lands and carries the views of Medha Patkar , Vandana Shiva, retired high court Judge P.B.Sawant and economist Sulakba Brahme

Justice Sawant says in the documentary that every attempt would be made to stop SEZs, including judicial remedies. According to him, agricultural land acquisition for SEZs has no valid provision in the SEZ Act. Sawant rubbishes special concessions for SEZs as unconstitutional. The documentary shows advocate Govind Pansare passionately arguing against the SEZ Act. He ridicules the description of SEZs in the Act as foreign islands within the country. He fears that SEZs could become powerful tools in the hands of developers to turn thousands of acres of land acquired for the purpose into real estate. He says developers are utilising only 35 percent of the land for setting up of export-oriented units and use the remaining for developing real estate, five-star hotels, casinos and bars.

The documentary producer promises more on SEZs in future as the momentum against them gathers.

He said neither district collectors nor the ministers concerned were willing to come forward to offer their views on the issue.

Tags: Real Estate India, SEZ India, Reliance SEZ