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Blogs

Rapid rise in real estate prices, Investors are on Cloud Nine

Residential real estate investments may sound fairly justified. While intending buyers decry the rapid rise in real estate prices, investors are on Cloud Nine. Its actually quite interesting to note how the same people who first complained about how expensive homes in India have become go on to exult about how nicely their properties are appreciating once they have bought them. The simple fact is that investment into residential real estate is today the wisest route that a retail investor can take.

Courtsey, June 24, 2013
The Economic Times

Unitech has leased 8 lakh sq ft of office space in its Gurgaon SEZ to US-based HR consultancy firm Aon Hewitt with a revenue of about Rs 800 crore over the next 15 years. 

Unitech Corporate Parks (UCP), holds 60% in this SEZ project called 'Infospace Gurgaon' while Unitech has the remaining stake and Unitech hold a 12% stake in UCP.

Courtsey, August 26, 2013
Land Bill to hit project timelines, hike cost estimates: Crisil

Rating agency Crisil BSE -0.45%on Friday said Land Acquisition Bill, which was passed by Lok Sabha, will lead to an increase in the gestation time of projects and overall costs. 

The bill, which replaces the century-old Land Acquisition Act, 1894. Crisil Research expects land prices to increase as the expectation of land owners will be higher. 

Consent of 80 per cent of landowners in case of land acquired by private companies and 70 per cent for land acquired under Public Private Partnership (PPP) model. 

The Bill calls for consent of 80 per cent of the landowners in case the land is acquired by private companies and 70 per cent in case the land is acquired under the Private-Public Partnership (PPP) mode. 

The process of obtaining consent shall be carried out along with the Social Impact Assessment (SIA) study. 

The new rules will apply retrospectively to cases where no land acquisition award has been made and to those where land was acquired up to five years prior, but no compensation was paid or no possession took place.

Courtsey, July 16, 2013
Blackstone to buy IT SEZ in Gurgaon for 2,600 crore

Blackstone world's largest property investor, has agreed to buy out a 3.6-million-sqft IT SEZ in Gurgaon, partly owned by Unitech, for 2,600 crore.

The deal, one of the biggest involving aprivate equity (PE) firm in the country's real estate sector, will bring cheer to a property market where prices have softened, 

The Company will make an announcement within weeks. Spokespersons for both Unitech and Blackstone, however, declined to comment.

Courtsey, September 26, 2013
Gurgaon Rapid Metro may roll out from October 2

India’s first privately funded and operated Rapid Metro service is expected to start operations from October 2. The much-awaited metro promises better connectivity to the people of Gurgaon.

The commissioner of Metro railway safety (CMRS) was yet to give a green signal to start the service but the Research Design and Standards Organisation (RDSO) had already conducted trials and necessary tests, Rapid Metro Gurgaon Limited (RMGL) officials said.

Courtsey, September 26, 2013