Nri real estate firm, Mint Home has planned to invest Rs 100 crore in Coimbatore. Mint Homes is US-based real estate development and construction group with 300 crore fortune. A non resident Indian (nri) has promoted this group who is planning to invest in high class housing resorts, eco tourism and integrated organic farms in Coimbatore.
Mr. Raj Natarajan , director of Mint Homes pointed out that investment will be made fully internally without any loans through its Indian arm, Mint Homes Pvt Ltd. The construction of an integrated high-end housing complex over 2.7 acres in Sowripalayam has begun. Nri real estate firm is planning to launch this project in January 2008.
The company is planning to develop four towers and the first one would be ready by January 2009 and the other three by that year-end. There will be a park and club house before the residential complexes which will be completed by March 2008.
Mumbai real estate is going to attract ETA Star Property Developers which will build a mall in Mumbai’s Juhu area by spending Rs. 1,500 crore.
The mall will be constructed in a 50:50 joint venture with Supra Estates by developing 10 acre plot in January next year.The service apartments will also be built.
ETA Star is basically a Chennai real estate developer which is a part of $4 billion ETA Ascon group based in the UAE.
The company has invested Rs. 800-900 crore to acquire the land for the mall. The construction of the mall will be completed by 2010 and will be available for lease for seven years.
Mainly the company is operating its projects in southern region of the country across Chennai, Bangalore and Hyderabad.
The Jasmine Court apartments are being built by the company in Chennai. There are two more Bangalore residential projects ‘Binny Crescent’ and ‘The Gardens’.
Trikona, a New York-based real estate investment company is planning to invest an Rs.1, 500 crore in India.
The investment will be made in residential and commercial properties by-invitation-only with a minimum ticket size of Rs25 crore which will be launched in December.
This is going to be the largest rupee-denominated real estate fund to be raised so far.
A $1 billion (Rs3,940 crore) infrastructure fund will also be launched by Trikona.
A report on the real estate sector by consulting firm Ernst & Young revealed out that over $3 billion real estate funds is in the queue which is targeting real estate in India.
Blackstone, Morgan Stanley, GE Commercial, Citigroup Property, Berggruen Holding and Bluestone Quantum Management Pvt. Ltd also want investments in real estate in india.
NYSE-listed Lehman Brothers is going to take 10% in a Hyderabad-based Ramky Group for Rs 407 crore. Ramky Group is an infrastructure and realty company promoted by Ayodhya Rami Reddy with a turnover of around Rs.1, 600 crore.
Lehman Brothers who deals in different types of industries is a global financial services firm. It has its various branches across the world.
The company wants to expand its operation in Middle East and Singapore in addition to India. They are also willing to acquire mid-sized companies in Singapore and Middle East.
Ramky Enviro Engineers which get second highest PE funding. Last year, IL&FS and Sabre Abraaj introduced around Rs 125 crore ($28 million) in Ramky Infrastructure by picking up a 13.5% stake in Ramky Infrastructure.
Also, Lehman Brothers has invested around $80 million in a Bangalore-based research and development SEZ in Gandhi City. The company also provided funds by its PE arm in India.
The real estate boom in India and technology sector of India are the most important sector in the eyes of foreign investors.The foreign private equity funds want to make more cash from these booming sectors by investing in these sectors.
A New York based private equity firm, Baseline is planning to invest $50-100 million in the sectors i.e realty, infrastructure,power,retail and technology.
The flow of investment will take a time of one year.The company is also interested to pick an equity stake in mid sized companies.
In the first phase the company is willing to invest in Hyderabad, Bangalore and Chennai and will expand to other regions later.
The mid sized companies which has strong business model will be targeted first by the Baseline .Wexford Capital LLC has joined with Baseline to fund its initial investment in India.
Wexford having over $7 billion assets under management with an over twelve years of experience in hedge funds and private equity investment which is the main investor in Baseline.
Baseline has performed 120 advisory and capital raising transactions over $100 billion in collaboration with Wexford Capital LLC
A $500 million India real estate fund has been provided by the HSBC in addition to the growth fund investments in the range of $600 million.
Not only the private equity club is developing which has reached to billion dollar worth but also forcing to feel their presence in India-focused funds.
Hongkong and Shanghai Banking Corporation (HSBC) recently entered for growth stage companies and real estate ventures with an estimated $1.1 billion. They have already acquired global assets of trillions dollars.
Nris (Non-resident Indians) who have their homeland in Punjab are contributing an important role in the economic development of Punjab.
The one third of Indians overseas is estimated to over five million who belong to Punjab.
Mansions, schools, hospitals and sports complexes in the State are being developed with the investment made by the nris who have their native place in Punjab.
The nri investment which is made in housing and real estate India development provides Foreign Direct Investment (FDI) to the country.
A mansion has been developed by investing 500000 dollar near Nakodar town, a few miles from Jalandhar by Upender Dhillon who now lives at Nevada in the United States migrated from Punjab in 1981.
Real estate firm Omaxe will develop a residential project at Vishakhapatnam in Andhra Pradesh by investing up to Rs 500 crore in the next 2-3 years
Omaxe has made a deal with Vishakhapatnam Urban Development Authority (VUDA) of 19.53 acres for about Rs 100 crore. The company has already acquired the land for the project.
This project will be a mid-income housing project having an area of 30 million sq ft which will produce Rs.900-1100 crore by selling Rs. 3000 per squre ft of 1500-2000 housing units.
The construction work of project will be commenced in the next 2-3 months and will be completed within 2-3 years.
