21 Aug 07 Alok Industries subsidiary, Alok Infrastructure buys commercial office space in Mumbai

Alok Industries has informed the stock exchanges that Alok Infrastructure, a wholly owned subsidiary of Alok Industries has bought commercial office space in Mumbai in a deal which is valued at Rs. 1075 crores. Alok Infrastructure is planning at either selling the land or leasing it out. This mega Mumbai land deal boosted investor sentiments and as a result heavy buying activity was witnessed in the Alok Industries counter.

21 Aug 07 Sobha Developers to build Sobha Hitech City – Kerala’s largest Township

Sobha Developers informed the stock exchanges this morning that it is working with the Kerala Government to build Sobha Hitech City which would be Kerala’s largest Township. Sobha Developers has entered into an MOU with the Kerala Government for the Sobha Hitech City Township project. Kerala Government has already approved the MOU for the township project. Sobha Hitech City will be an integrated township built on 400 acres of land with an investment of Rs. 5000 crores.

17 Aug 07 DLF acquires West Delhi Land from DCM Shriram Consolidated (DSCL)

ET reported yesterday that DLF has acquired prime land in West Delhi from DCM Shriram Consolidated Limited (DSCL) and the Lohia group for Rs. 1675 crores, in what is said to be the biggest land deal in India beating Unitech’s aquisition of 300 acres of land in Noida for Rs. 1582 crores. This is the first major land deal that DLF has made after its IPO. The land includes the Swatantra Bharat Mills and DCM Silk Mills property.

09 Aug 07 The Forest Spa in Omaxe Grandwoods by Omaxe Buildhome

Omaxe Limited, which recently got listed in the stock markets, has informed the stock exchanges that Omaxe Buildhome pvt ltd which is a 100% subsidiary of Omaxe Limited, will soon launch Ultra Luxury and Premium range of appartments in Noida which is in the fast developing NCR region. The project has been named “The Forest Spa” and will consist of Premium range appartments and penthouses. “The Forest Spa” will be located at Sector 93B, Noida, U.P. and will consist of 176 appartments / penthouses constructed over an area of 8 acres.

06 Aug 07 Orbit Corp to sell Kalina land to Reliance Retail?

Orbit Corp Limited touched an all-time high today following reports that Reliance Retail and JSW Steel were interested in buying the Kalina land, which Orbit Corp bought for 300 crores just 5 months back, for over 800 crores. The land is strategically positioned in Kalina which is just a stone’s throw away from Bandra Kurla Complex (BKC). BKC is Mumbai’s second largest business center (next only to Nariman Point – Fort area). About 200% returns in less than 6 months - indicates how hot the Indian real estate sector is.

10 Jul 07 DLF bags Bangalore township project?

There are rumours in the market that DLF has bagged a 9000 acre township project in Bangalore. If the rumour turns out to be true, then investors who held the DLF shares alloted in the IPO, till date or bought it after listing, would benefit from the rise in DLF stock prices as and when the announcement is made public by DLF through the stock exchanges. I missed the DLF IPO fearing the IPO was overpriced. But, even though the listing premium of DLF was low, the overall returns offered by the DLF IPO works out to be much higher than many other IPO’s which enjoyed higher listing gains, since in the case of DLF, full allotment was made whereas in the case of other IPO’s the allotment made was very low (due to heavy oversubscription)

01 Jul 07 Orbit Corporation Ltd. to enter metropolitan Mumbai

Orbit corp which is a leading real estate company is currently developing 17 properties consisting of a total space of 1.1 million sq ft space. Orbit Corp plans to start developing properties inside metroplolitan Mumbai. However, Orbit Corp has informed that it is experiencing over 30% drop in enquiries. Hope its entry into metroplolitan Mumbai changes this trend.

20 Jun 07 Indiabulls Real Estate Housing Project in Chennai, Tamilnadu

Indiabulls Real Estate has informed the stock exchanges that it has acquired land in Tamil Nadu for two housing projects through its subsidaries. This includes an agreement to buy 50 acres of land in Chennai for a housing project by Selene Estate, a wholly owned subsidary of IndiaBulls. Another subsidary of Indiabulls, Fama Land Development Pvt. Ltd. is in the process of acquiring 241 acres of land in Tamilnadu. Of this 241 acres, it has already acquired close to 200 acres of land.

22 May 07 Pre IPO placements by Real Estate Firms

The government of India is having a re-look at the policy governing the pre IPO sale of shares by real estate companies to foreign institutional investors (FII’s). The RBI’s stand is that pre IPO placements be treated as foreign direct investment (FDI) and not as foreign institutional investment (FII Investment) since foreign direct investment (FDI) is made by the promoters at their discretion. Any policy change will have significant importance considering the fact that DLF is coming out with a MEGA IPO next month.