23 July 2018

Table of Contents for Ticker Tape





Ticker Tape: Construction

GOVERNMENT RELEASES Rs.9,940 CRORE FOR SMART CITIES MISSION

The Centre has released nearly Rs.9,940 crore to the states so far for the Smart Cities Mission, with Maharashtra accounting for the highest amount of Rs.1,378 crore, followed by Madhya Pradesh getting Rs.984 crore. The Housing and Urban Affairs Ministry has announced 99 cities for central assistance under the BJP government's flagship programme. The total proposed investment in these cities was Rs.2.03 lakh crore. Tamil Nadu, with the highest of 11 cities selected for the mission, has so far received Rs.848 crore. Karnataka with seven cities got Rs.836 crore. Rajasthan with four cities-- Jaipur, Udaipur, Kota and Ajmer--received Rs.784 crore. Andhra Pradesh, whose four cities were selected, received a central assistance of Rs.588 crore, Uttar Pradesh with 10 cities received Rs.547 crore and Gujarat, whose six cities were chosen, got Rs.509 crore. Under the mission, the cities propose to take up various projects, including "smart" roads, rejuvenation of water bodies, cycle tracks, walking paths, smart classrooms, skill development centres, upgradation of health facilities, and pan city projects like integrated command and control centre. The Centre released Rs.8 crore to West Bengal whose New Town Kolkata was selected for the mission in May 2016. However, the state government had already announced that it would not participate in the Smart Cities Mission.

 

 

 

 

PURAVANKARA LOOKING TO CREATE UP TO Rs.2,000 CRORE REALTY FUND

 

Puravankara plans to set up a real estate fund of up to Rs.2,000 crore to develop affordable housing projects, primarily in key markets of Bengaluru, Mumbai, Pune, Chennai and Hyderabad.

 

The company has lined up launch of 15 new projects by March next year entailing an investment of about Rs.3,200 crore in construction, spread over the next five years. The Bengaluru-based developer is in talks with few investors to set up this platform within six months.  The company would launch six new projects under its low- cost housing brand 'Provident' and eight projects under premium 'Puravankara' brand.

 

 

 

 

 

GERMAN PUMP MAJOR HOMA FORMS JV WITH EKKI PUMPS

Homa a German Pump Major has formed a joint venture with India’s Ekki Pumps to form a waste-water pump company. The JV will focus on India and the neighbouring markets, marks the Indian partner's entry into the waste-water pump segment. Ekki Pumps claims this is the first ever Indo-German Joint Venture in the pump industry. The objective of this equal JV is to bring to India and neighbouring markets a range of efficient and reliable waste-water pumps and systems based on German technology.This new partnership will enable Homa to expand its reach to South Asia, while Ekki will gain access to a top European brand, and its waste-water pumping technology. This will enable the Indian partner to offer a wider range of pumps in the domestic and neighbouring markets. As part of the JV, the two firms are also looking at setting up a new manufacturing facility in India, in a move that is expected to create 200 employment opportunities over the next few years. The newly formed alliance will be based in Coimbatore.

 

 

 

KEF INFRA PLANS TO SET UP PARK FOR BUILDING MATERIAL FIRMS

 

KEF Infra, a pre-fabricated building solutions firm plans to set up a 250-acre park near Hyderabad to house building and construction material manufacturing units. It will sign an agreement with the Telangana Government in this regard.

 

Apart from investing Rs.650 crore in its own plant in an extent of 50 acres as an anchor investor in the park, KEF Infra will promote the park for investments from ecosystem players in India and abroad.The Telangana government is evaluating four places in Ranga Reddy and Medchal districts for locating the park.

 

 

 

NIRMAL & SHAPOORJI PALLONJI TO DEVELOP 2 PROJECTS IN MUMBAI SUBURB

 

Realty developer NIRMAL has entered into two Development Management Agreements with Shapoorji Pallonji Real Estate to jointly develop over 3 million sq ft in Mulund suburb of Mumbai. Both the residential projects, Olympia and City of Joy, are expected to generate estimated revenue of Rs.5,000 crore over the next five-six years in these proposed developments, NIRMAL will be responsible for land and permissions, while Shapoorji Pallonji Real Estate will take care of development, execution and marketing of the project. The projects will be branded jointly.

 

 

 

 

PANCHSHIL TO PARTNER THREE GLOBAL COMPANIES FOR SMART CITY PROJECTS

 

Panchshil Realty and Developers, Switzerland's Carbon Asset Management Ag (CAM), Korea's Smart City Korea (SCK) and Posco E&C have entered into an agreement to form a joint entity to identify and develop real estate projects in line with the government's Smart City initiative in India. The newly created joint entity, to be known as Smart City India Consortium, will develop township projects across the country and the first one of these will come up in Pune. For the first such project to be developed in Pune's Kharadi area, the investment is pegged at $500 million (Rs.3,200 crore). The project will be spread over 120 acres and is estimated to have 10 million sq ft smart built-up area.

 

A memorandum of understanding (MoU) for the partnership was signed recently, and the construction is expected to commence over the next three months and is expected to be completed within 36 months . Smart City India consortium shall work closely with all the government agencies to facilitate the development and its sustainability. Korea's Smart City Korea will be providing the technology for the same and will be responsible for planning of these integrated projects. Smart City Korea is a master developer and in cooperation with the companies such as Smart City Dubai and Dubai Holdings is engaged in smart city projects in South Korea with an ongoing master plan of nearly 50 million sq ft. The first project by Smart City India consortium would include features such as technologies and infrastructure solutions, including e-governance, administration, information and communication technologies (ICT), telecommunication, energy efficiency and sustainability, amongst others.

 

For the past two years, the government has been emphasizing on its urban renewal initiative of Smart Cities Mission with an objective of developing 100 cities across the country. The government is looking to harness technology capabilities and local area development to make these cities sustainable.

 

 

 

GODREJ PROPERTIES ADDS THREE NEW PROJECTS ACROSS BANGALORE, NCR

 

Godrej Properties Ltd (GPL), one of India’s leading real estate developers has added three new projects, two in Bangalore and one in Noida. GPL has entered into a joint venture with Sai Srushti Group to develop a 100 acres land parcel on NH-648 near Devanahalli Town in North Bangalore. This shall be Godrej Properties’ first plotted development project and it plans to develop approximately 2 lakh square meters (2.15 million sq. ft.) in the project,” the company said. The second project, also in Bangalore, is a joint venture with the promoters of Lahari Music Group, south India’s biggest music group, to develop 17 acres of land, with the possibility of further extending the development up to 24 acres, in Electronic City Phase – I, abutting the main Wipro Campus in South Bangalore. Godrej Properties plans to develop a modern residential housing project of approximately 1.3 lakh square meters (1.4 million sq. ft.) with an option to further increase it to 2 million sq. ft., the company said. This will be GPL’s seventeenth project in Bangalore.

 

The third project is in the Noida Expressway micro market. GPL will develop a Group Housing Project under the Development Management model in partnership with the Ace Group. This project will offer approximately 1.6 lakh square meters (approximately 1.7 million sq. ft.) of saleable area and will be developed as a modern group housing development. This is GPL’s 3rd project in Noida and 11th project within the National Capital Region (NCR).

 

 

 

 

Rs.10,500 CRORE INVESTMENT COMMITTED FOR GIFT CITY

 

An investment of Rs.10,500 crore has been committed for GIFT City, the country's first operational smart city and International Financial Services Centre. GIFT City has been included in the Centre's Smart City Mission Statement and Guidelines as Model City in Greenfield category for development of 100 smart cities in the country.

 

 

 

 

ASK PROPERTY INVESTS Rs.150 CR IN PUNE PROJECTS

 

ASK Property Investment Advisors (ASK PIA), has announced a commitment of Rs. 150 crore across two projects in Pune.

 

Both these projects are expected to generate revenues of around Rs.1,000 crore. Of these investments, Rs.80 crore is deployed in Kumar Properties’ residential project (eight lakh sq ft) and Rs.70 crore in Naiknavare Developers’ residential project Avon Vista (6 lakh sq ft). While the former investment is from the ASK PIA’s offshore fund, the latter has been deployed from its recently launched ASK Real Estate Special Situations Fund-I (ASK RESSF-I).

 

 

 

 

APEEJAY SURRENDRA PARK HOTELS TO EXPAND IN TIER-II, -III TOWNS

 

Apeejay Surrendra Park Group of Hotels plans to expand across tier-II and tier-III towns. While ‘The Park’ continues to remain its primary brand targeting the luxury segment and managing around 1,200 rooms, the company will look at expanding the ‘Zone by The Park’ brand in tier-II and tier-III towns. The plan is to have 20 ‘Zone by The Park’ properties over the next few years. Upcoming properties — mostly managed ones — will have around 100 keys and are to be positioned as a “price and design-conscious offering”.

 

Proposed locations for the new properties may include Puducherry and Igatpuri.

 

‘Zone by The Park’ is currently present in Coimbatore, Jaipur, Raipur, Jodhpur and Bengaluru and manages around 500 rooms across six hotels in these places. The group, under ‘The Park’ brand, is looking to add at least two more hotels this year. The 65-key luxury boutique property is set to come up in Juhu around June. Another 110-room property in Indore is also expected to be opened by the end of this year. This apart, the group has also won a management contract from the West Bengal government for a 100-key property at Kolkata. Located at the convention centre in New Town, in the north-eastern fringes of the city, the property will be jointly branded with the State government’s flagship ‘Biswa Bangla’ and Apeejay Surrendra Group and is expected to be operational by June,” Dewan explained. The group is also firming up plans to set up its second property in Kolkata. It had purchased land on the eastern fringes of the city some years ago.

 

 

 

 

XS REAL TO LAUNCH 2ND AFFORDABLE HOUSING PROJECT

 

The second phase of XS Real’s affordable housing project ‘Courtyard’ is expected to be launched soon. Located adjacent to Phase I of Courtyard at Neelambur on Avinashi Road, the second phase, will have 202 two-bedroom apartments and 46 single-BHK apartments. The floor space of the one-BHK dwelling units will hover around 442 sq ft and the 2-BHK apartments between 593 and 786 sq ft and priced between Rs.19 lakh and Rs.32 lakh The Chennai-based property developer entered Coimbatore with the launch of Courtyard-I in April 2017. XS Real is planning a few more projects in Coimbatore, besides looking at other cities for development of affordable housing projects in the State.




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