In the Real World – The Week that was

From: Berinder Sahni
Date: Sat, Mar 9, 2013 at 10:56 AM
Subject: In the Real World – The Week that was

Key News

· Aditya Birla fund may buy 50% in Peninsula’s Pune project for over Rs. 115 Cr

· Bhai Thakur’s Viva Homes emerges as highest bidder for the 963 acre land of the Iranian Zoroastrian Anjum trust in Palghar with an offer of Rs 75 lakh per acre.

· Embassy and Blackstone are buying out, Vrindavan Tech Village, for Rs 1,951 crore ($356 million). HDFC Property Fund is expected to take 33% while GIC is in discussions to pick up 16%

· IDFC has bought assets worth about Rs.250 crore in Paranjape Schemes Hinjewadi IT SEZ

· Kotak has invested Rs.110 crore in a residential project of TDI Infrastructure in Kundli, NCR

· HDFC Property Fund, is expected to achieve first close of $200 million of its fourth real estate fund, which was launched late last year with a target size of $500 million.

· Sobha Group founder PNC Menon to give 50% of estimated wealth of $600 million to charity

· Godrej Properties launched its ambitious 1.3 million square feet commercial project at BKC, eyeing a revenue of around Rs 3,500- 4,000 Cr. Raises Rs. 500 Cr debt

· Azure Capital Advisors is raising a rental yield fund of Rs.250 crore, with a greenshoe option of another Rs.250 crore. This is its second fund.

· Tata Communications plans to sell properties across Delhi, Mumbai and Chennai to raise more than Rs 2,500 crore in the wake of continuing losses

· Indian Hotels Company to have 200 hotels globally by 2018

· Max Group plans to build and operate lifestyle properties

· Taj to open 100th Hotel in Gurgaon in its 110th year of operations

· MHADA finalised a budget of Rs, 4,897 Cr for 2013-14, with almost 50 percent of the money being allocated for land acquisition and construction of affordable houses.

Source: Compilation of news articles from various publications

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