Tag: real estate investment

Tata Housing buys 20 acres land in Bangalore for new projects

Tata Group realty firm Tata Housing has entered into an agreement with Alstom T&D India to buy its manufacturing unit spread across 20 acres in Bangalore for 120 crores.

“The agreement with Alstom T&D India was a part of the expansion strategy of the company,” the company said in a statement.

Tata Housing is a subsidiary of Tata Sons, which holds 99.86 per cent stake in the realty firm. It has 70 million sq ft of area under various stages of planning and execution and an additional 19 million sq ft in the pipeline.

Commenting on the agreement, Tata Housing spokesperson said, “As part of our long term strategy, we are looking at expanding our presence in the fast growing city of Bangalore.

“We are witnessing phenomenal growth in North Bangalore as its commercial and residential market is growing exponentially. With Bangalore, being credited as the 10th most favoured prop investment destination by Asia Pacific, we are planning to launch an ultra-luxury project on this land to cater to the increasing aspiration of ‘higher living’ in the city,” said the spokesperson.

Bangalore, known as the Silicon Valley of India has emerged to be one of the fastest-growing cities. The presence of IT and BPO companies in the city has created an active demand for commercial and residential properties in Bangalore. The city with good social infrastructure, close vicinity to international airport, increasing metro lines, excellent educational institutes and constantly upgrading physical infrastructure is attracting lot of investment from HNIs and NRIs.

Tata Housing has presence in Mumbai, Lonavala, Talegaon, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar.

The company is now in the process of expanding footprints to other parts of India across tier I and II cities. It has ventured into foreign markets such as Maldives and is actively exploring other markets, including Sri Lanka and other South Asian countries. (With PTI inputs)

Source: The Financial Express

Growth of kolkata real estate market

Since independence, the city of joy Kolkata has been growing; both in size and in terms of population. From incorporating different people to different businesses, growth has been quite consistent. But very recently the talk of the town is certainly the boom of real estate industry in Kolkata. The city is expanding like never before; and these days the buzz is high around all those skyscrapers, shopping malls, cinema hubs, multiplexes etc in and around Kolkata. Some years’ back we have seen cities like Mumbai or outskirts of Delhi and even Bangalore were growing but the hype that is happening around the real estate market in Kolkata of late, is something that has never been seen in Indian market thus far.

From those glittery malls to the newly build high-rises in various parts of Rajarhat, New Town etc places, Kolkata real estate has become such a hotshot that real estate tycoons from various parts of India are going gaga over the city now. Apart from the big commercial properties, residential properties too are in great demand. People; NRI’s, bongs who wants to come back from various parts of the globe, big celebs etc all are trying their hands in searching a soothing, serene, posh location in or around the city.

You may found it strange but truth is that Kolkata is getting bigger and better with time. And in upcoming years, it only promises more. Kolkata’s latest outskirts like; Garia, Topsia, Chinar Park or New Town etc are the new hot properties around Kolkata. Especially places like Rajarhat, New Town have emerged as the most favoured places for the big property developers. Thus now you would find high-priced and luxurious housing complexes in Shrachi Rosedale Garden or in Chinar Park etc. Spreading across a long stretch of 16 acres, Shrachi Rosedale Garden is undoubtedly one of the finest residential properties to be sought after in the city of joy in current times. These sort of residential
a actually have been able to cuddle an array of services which were not that easy to see in earlier scenario. Today if you have money and if you are willing to spend then you would virtually get hundreds of options too.

With more companies coming in and around the IT hubs like Salt Lake sector V & Rajarhjat, the future seems to be sparkling for the real estate builders for sure. Anyways, when you can find all the important amenities of life like; school, station, airport, market etc within your short reach, then no wonder to see people becoming more eager to buy these properties like ever. So you just need to pick the right one for yourself as per your choice and then it’s time to indulge yourself in luxury my friends. Come and discover Kolkata.

Source: Electron Style

Alchemist to invest in Kolkata realty project

Alchemist Township India, a Delhi-based realty firm, is planning to develop a realty project in Kolkata, West Bengal.

To acquire the required land for the proposed project, the company has inked a deal with a local builder, Highland Group. As per the deal, Alchemist Township has purchased two million sq ft of prime residential land from Highland Group at Kolkata Riverside, a satellite township development encompassing 262 acre being developed on the banks of the Hooghly River. Property consultant, Jones Lang LaSalle India, facilitated the transaction.

The company will invest Rs 600 crore to develop a realty project. The project will include a 25 acre IT Park, various commercial establishments catering to the services sector, physical infrastructure and advanced lifestyle features such as a golf course.

Source: Projects Today

Major real estate projects stalled in Kolkata and State since April

Real estate business in Kolkata has come to a standstill as major projects in the city and rest of the state are stalled since April since the mechanism to clear them has been lying dormant for almost six months. The State Environment Impact Assessment Authority (SEIAA) and the State-level Expert Appraisal Committee (SEAC), which clear large-scale projects, remain defunct with no members on board.

At least 40 multi-crore projects have not moved beyond the planning stage. Developers are unable to apply for the mandatory environmental clearance in absence of the twin committees. Government also appears to be in no hurry and developers have to bear the brunt of time- and cost-overrun.

The impasse is inflicted by the delay of ministry of environment and forest (MoEF) in clearing names of members proposed by the state for the committees. Reports indicate that the state too was late in forwarding the names late. The term of the previous panels expired in April 2013. Since this was known, the environment department should have got the members for the next panel approved by April. But it was not done.

The robust mechanism was been put in place to ensure that norms are followed by developers and no major environmental damage is caused by the construction of multi-storied buildings. According to norms, all projects above 20,000 sq metre must first submit the conceptual plan before the SEIAA. Once the form is approved, the proposal has to be sent to the SEAC. If the proposal is approved, the developer has to submit the building plan to the SEAC. Following the recommendations of the SEAC, the SEIAA then issues the environment clearance for the project.

According to the Bengal chapter of the Confederation of Real Estate Association of India (Credai-Bengal) since there has been vacuum for some time now, developers should be allowed to start the projects and construct up to 20,000 sq metre to prevent further wastage of time and resources. “Since the requirement is for SEIAA and SEAC clearance for projects above 20,000 sq metre, we want the KMC and other municipalities concerned to allow us to construct till the threshold. Thereafter, further construction should be allowed once the environmental clearances are in place,” said Credai-Bengal president Harsh Patodia

Source: infrawindow.com

The Growing Sector Of Real Estate Kolkata

Kolkata is located in the eastern side of India, and known as the business and commercial hub of eastern zone of India. The legendary people like Mother Teresa, and, Rabindranath Tagore had deep connection with the Kolkata. Besides this, bollywood stars like Rani Mukherji, Satyajit Ray, Rimi Sen, Riya Sen, Bappi Lahiri, Kumar Sanu, Alka Yagnik, Sushmita Sen among many others celebrities born in Kolkata. The properties or real estate Kolkata are also growing in terms of price because of the emergence of IT sector in the city.

The culture of the city is mixed like India. Therefore, all the festivals of different religions are celebrated with the same zeal and joy. The big companies like TCS and IBM have established their offices in the city which are responsible for generating occupations for the people in the city and across the whole country. This makes the people to invest money in the real estate Kolkata. Also, the infrastructure of the city has developed substantially and one can easily find malls, theatres, and other modern means of living. This is another reason why people are investing in the real estate of Kolkata. You should also make investment in the properties of Kolkata as this will prove beneficial for you by generating huge returns.

Source: Land Of Properties