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Tata Realty Returns Rs. 800 Crores To Tata Sons umi |
Less than a year after it received Rs 1,000 crores as investment from its parent firm, Tata Realty and Infrastructure Ltd is refunding Rs 800 crores to Tata Sons Ltd at a time when the group is hard-pressed to raise funding related to past acquisitions and expansion. The step, taken after Tata Realty decided to pull back some of its planned projects amid a downturn in the real estate market, will reduce its paid-up capital to Rs 925 crores from Rs 1,725 crores, according to a business daily.
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IIFCL Raises Rs. 7,370 Crores umi |
| India Infrastructure Finance Company Ltd has raised Rs 7,369.90 crores through its first tranche of tax-free bonds. These bonds, with five-year terms, had a coupon of 6.85% payable annually.
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Ansal Plans 10,000 Affordable Homes umi |
| Ansal Properties and Infrastructure plans to invest about Rs 500 crores to develop 10,000 affordable homes priced between Rs 2.5 lakhs and Rs 9.5 lakhs. The housing units, which will come up in UP and Rajasthan, are expected to be ready for delivery in one and a half years.
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5 More High-tech Townships In UP umi |
| The UP government has decided to build five more hi-tech townships in the state, two of them in the National Capital Region (NCR) and three in non-NCR cities.
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DLF’s Commercial Realty Roll-out umi |
| DLF Commercial Complexes (DCCL), part of real estate major DLF Group, will invest over Rs 4,000 crores-Rs. 5,000 crores in commercial projects across the country in the current year. As part of this plan, the company has announced the launch of an office-space-cum-retail venture in Ludhiana. A similar project would be launched in Amritsar in the later part of the year.
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Double Venture Of Ansal Housing umi |
| Ansal Housing & Construction Ltd has announced the launch of a new township project in Meerut. Christened as Ansal Town, the project, located at National Highway – 58, has already been approved by Meerut Development Authority.
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Mid-income Housing Scheme in N. Chennai umi |
| Chennai-based Prince Foundations Ltd plans to launch a residential project in North Chennai tailored to suit the budget of the middle income group with apartments of varying sizes. The company has carried out a detailed survey of the area’s market which is generally perceived as ‘slow’ by most developers.
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LICHF Profit Up By 27% umi |
| LIC Housing Finance has reported a 26.70% rise in its net profit to Rs 134.33 crores for the quarter ended December 31, 2008, compared with Rs 106.02 crores in the corresponding quarter last year.
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MHADA Plan for 4,000 Homes A Year umi |
| The Maharashtra Housing and Area Development Authority (MHADA) plans to bring out around 4,000 homes every year from the earlier count of 3,863.
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WB Airport City Takes Off umi |
| The first airport city project in the country will come up near Durgapur in West Bengal by 2011 as the process of acquiring 2,363 acres of land has begun with the issuance of a notification to this effect.
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EMPI’s ‘Innovation City’ Scheme umi |
| Entrepreneurship and Management Processes International (EMPI), chaired by former Central Vigilance Commissioner N Vittal, has plans to set up a novel SEZ called Gujarat Vittal Innovation City (G-VIC) nearValsad in Gujarat over about 1,100 hectares at an estimated cost of Rs 11,500 crores. The company is in talks with international firms for forging partnerships.
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Rs. 40,000-crore ‘Water Front City’ Planned umi |
| The Hindustan Construction Company has signed an MoU with the Gujarat Government to develop a ‘Water Front City’ at Dholera, located in the Delhi-Mumbai industrial corridor, with an investment of Rs 40,000 crores. The development would replicate the Lavasa project, a 12,5000-acre hill town which HCC is developing near Pune.
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Land For Thrissur IT Park umi |
| Kerala government, as part of its hub and spoke model of development of IT in the state, is establishing an IT park in Thrissur district. Land at Koratty has been handed over for the project.
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JMD Embraces Hospitality umi |
| JMD Group, the New Delhi-based Rs 140-crore real estate company, has stepped into the hotel business by roping in the US-based hospitality group Hilton Hotels’ Doubletree brand of luxury hotels. It will spend around Rs 150 crores in two years to establish three hotels.
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Zooming Into Hotel Zone umi |
Realty firm Zoom Developers is planning to invest about Rs 1,000 crores to build over 35 hotels across the country in the next two years.
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Sarovar’s Ninth Delhi-NCR Property umi |
| Sarovar Hotels and Resorts has announced the signing of its ninth property in Delhi-NCR region, Sarovar Portico, Greenpark (three-star hotel), thus adding to the existing Delhi-NCR portfolio of Park Plaza Gurgaon and Noida.
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TMC’s Rs. 800-crore Social Housing Project umi |
| Tanaji Malusare City (TMC), spread over 100 acres, is coming up at Karjat, about 60 km west of Pune, consisting of no less than 5,000 homes of 160, 225, 325 and 400 sq ft carpet areas, costing Rs 2 lakhs, Rs 3 lakhs, Rs 5 lakhs and Rs 7 lakhs respectively. TMC, promoted by Matheral Realty, claims its India’s first Rs 800-crore mass social housing project.
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Rs. 3,000 Crores For Riverside Project umi |
| Riverbank Developers, a 50:50 JV between Calcutta Metropolitan Group (CMG) and Bata India, has earmarked an investment of Rs 3,000 crores to develop the Calcutta Riverside project at Batanagar in West Bengal. Located on the eastern bank of the Hooghly river in south 24-Parganas district, the entire project on 262 acres will have a hotel, malls, residential apartments, hospital, township and an IT special economic zone.
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Hyatt- Emaar MGF Hotel JV umi |
| Hospitality major Global Hyatt Corporation plans to develop six properties in India with an investment of around Rs 1,000 crores in 3-4 years in a joint venture with real estate firm Emaar MGF. The hotels, to be launched under the brand 'Hyatt Place', would come up in Mysore, Lucknow, Indore, Hyderabad, Gurgaon and Mangalore with a total of 950 rooms.
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Purvankara Scales Down Project umi |
| Puravankara Projects Ltd, which had won the bid to develop the Hi-Tech City in Hyderabad on a 30-acre plot in 2007, will now be developing only 20 acres. The Bangalore-based realtor had to pay a total of Rs 630 crores for the 30-acre plot. Of this, it has already acquired 20 acres for Rs 403 crores. However, it has now been allowed by the Andhra Pradesh government to cancel the purchase of the remaining 10 acres for Rs 227 crores without any penalty.
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Pune Builders For Lower Levies umi |
| The Promoters and Builders Association of Pune (PBAP) has accused the state government and municipal authorities of treating the realty sector as a revenue generator at a time when the Centre and the Reserve Bank were taking positive steps to boost the sector.
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