Hyderabad Property News

Reliance Infra plans to raise funds in phases for Hyderabad project

Reliance Infrastructure Ltd, part of the Reliance-Anil Dhirubhai Ambani Group, will be raising funds in phases for its 100-storeyed trade tower and business district project on the outskirts of Hyderabad. The company needs about Rs 4, 000 crore in the first phase to pull off a large part of the project, which will be executed at a cumulative cost of Rs 8,000 crore in the next three-five years. “We will have to raise the money in two-three phases from banks, though we intend to develop the project in one go,” said a senior official of Reliance Infrastructure in charge of the Hyderabad project.

Reliance Infra, which is a two-thirds partner in the project that is to be implemented through a special purpose vehicle (SPV), won the bid last November. The other stakeholders in the venture are Bangalore-based Sobha Developers Ltd (technical partners) and Andhra Pradesh Industrial Development Corp. with 23% and 11% stake, respectively. The project is the business group’s first venture into real estate, with the second being a mixed-use project planned on about 220 acres, which it got by winning the contract to build a metro rail line between the New Delhi railway station and the international airport. Considering the current market downturn, the SPV has decided to lease, rather than sell, the tower, which will be the central attraction in the 77-acre project. “Leasing out space is much more flexible when property prices are on a downward slope and you don’t relinquish ownership rights. However, we will lease out the space in phases in the next few years,” said the same official. Read More>>

Sunday, November 02, 2008  India-Realestate

Hotel Novotel Hyderabad Airport launched

Novotel has launched the Novotel Hyderabad Airport property near the GMR Hyderabad International Airport (GHIAL). The hotel is spread over five acres and offers 305 rooms consisting of 11 suites, 53 premier rooms and 241 superior rooms. “Located in a quiet, green environment in close proximity to the airport terminal it is slated to emerge as a favourable choice for business travelers and will ignite the beginning of an Aerotropolis in Hyderabad,” says Simon Jinks, General Manager, Novotel Hyderabad Airport.

The hotel has launched a special opening offer of Rs 5,500 (inclusive of service tax) from October 1 to December 31, 2008. It is applicable to guests of the superior rooms and includes breakfast and airport transfers. It is also offering Flexi Stay packages for business travelers who come for a very short period. Read More>>

Sunday, November 02, 2008  India-Realestate

PBEL ties up with L&T to develop ‘PBEL City’

PBEL Property Development (PPD) has tied up with engineering and construction company L&T for its project, PBEL City, on the outskirts of Hyderabad. Under the agreement, L&T will build about 2,000 apartments for PBEL on a turnkey basis at an outlay of Rs 552 crore. The entire project will be completed in the next four years and will house 13 residential and two commercial towers. Each tower will comprise 19 storeys with each level having 12 flats, PPD director Anand Reddy said.

Reddy said PBEL was aiming at developing 10 million sft of residential and commercial space across Hyderabad and Chennai. The PBEL City will make up for about 4.7 million sft, while the residential and commercial projects coming up in Chennai and the Logistics Park at Shamshabad will add 4 million sft and 2 million sft respectively. “There is no denial that the market has slowed down. But it is now a more mature market with genuine buyers,” Reddy said, adding that about 40 per cent of its two-bedroom flats have already been booked. Read More>>

Sunday, November 02, 2008  India-Realestate

Aliens Space Station 1 to be the tallest residential complex in Hyderabad

A 30-storey residential project by Aliens Group in Hyderabad has been granted approval by the Hyderabad Urban Development Authority. Located in Gachibowli, the IT& Financial district, this complex named Aliens Space Station 1, is coming up in more than 18.5 acres of land with nearly 80% of remaining area as landscaped greens. Expected to go up to a height of 87 meters, this residential development will house 2,205 apartments including duplexes and penthouses.

“Hyderabad is growing as Asia’s new International hub and is a gateway to the region. Keeping pace with this development, Aliens Group synonymous for its “Intelligent Living” is developing a series of hi-tech digital homes” Aliens Group Managing Director, Mr. Hari Challa says. He added saying that Aliens Space Station 1, barely 3 Kms from the Outer Ring Road and 20 minutes drive from the new International Airport, is slated to be completed within 36 months. Read More>>

Sunday, November 02, 2008  India-Realestate

Emaar MGF launches Boulder Hills at Hyderabad

Real estate developer MGF Land has launched ‘Boulder Hills Golf and Country Club’, its world class Leisure and Residential Community in Hyderabad. The project has a capital outlay of US $ 1.4 billion (Rs 5,610 crores) and is the first amongst a significant cache of Emaar MGF projects in South India.

This launch marks the roll out of Emaar MGF‘s ambitious project plans spanning residential, commercial & retail, IT parks & SEZs, and hospitality sectors over the next few years at ten locations across South India. Boulder Hills is replete with an 18-hole championship golf course, luxury residences, large format retail facility, luxury and boutique hotels and an IT Park. The project will be constructed by Multiplex Construction India Pvt Ltd., an equal partnership joint venture construction company between Emaar MGF and Multiplex Ltd. Read More>>

Tuesday, October 21, 2008  India-Realestate

Hyderabad office space to be increased through SEZs

Hyderabad boasts of quality IT infrastructure, a good human resource base business, friendly policies and a proactive government and so it is among the most preferred real estate destinations of India. It has 40 IT SEZs and hopes to reach US$7 billion mark with a prospective growth of 50 per cent during the current financial year. An estimated 60-70 million sq. ft of IT/ITeS specific commercial office space is expected to come up through special economic zones alone by 2010 in India. And out of the seven cities where such zones are coming up, Hyderabad leads with about 30 per cent of the total expected supply of real estate, closely followed by Pune, Bangalore and Chennai.

The south zone has been the frontrunner of the special economic zone movement in the country, accounting for 36 per cent of all approvals coming through, till date. One state that has clearly dominated the scene is Andhra Pradesh, which accounts for nearly 25 per cent of total notifications. Pockets of maximal real estate development activity in the state include the districts of Hyderabad and Visakhapatnam. In fact, the supply of new office space supply in the special economic zone space is going to far outstrip the fresh supply in non-special economic zone space in the coming years. Hyderabad. Read More>>

Sunday, September 14, 2008  India-Realestate

PBEL India to build 1200 cr township project in Hyderabad

Hyderabad-based real estate developer PBEL India plans to build a township in the city at a cost of Rs 1,200 crore. Christened PBEL City, the township will comprise of 13 residential and two commercial towers. PBEL City, a joint venture between PBC and Electra Real Estate, both from Israel, and Incor from India, will come up in Rajendranagar on the outskirts of Hyderabad. Addressing the media, project executive director Anand Reddy said that PBEL City was the company’s first offering in Hyderabad. It has spent about Rs 200 crore on the project for purchasing the land and creating infrastructure.

The company will raise the funds from internal sources and through banks. In the first phase, to be completed in 18 months, the project will have 500 units with a built-up area of 1,050-1,600 sft. While the second phase will be ready in 24 months, the third phase will be completed in 36 months. The units will be priced between Rs 40 lakh and Rs 55 lakh each, Reddy said. The company is planning mega projects across the city and in other parts of the country. Over the last couple of months, PBEL had bought about 110 acre worth Rs 500 crore across various cities. Currently, it is focusing on Hyderabad, Chennai and Mysore, and plans to spend about Rs 4,700 crore over the next three years. Read More>>

Saturday, September 06, 2008  India-Realestate

Hyderabad Authority investing Big Money in Expressways

The Hyderabad Urban Development Authority (Huda) is investing about Rs 6,000 crore for an eight-lane access-controlled expressway. Part of the Outer Ring Road (ORR) project, it would be taken up in three phases, said Huda vice-chairman KS Jawahar Reddy.

In the first phase, a 24-km road would be laid from Gachibowli to Shamshabad, which is scheduled to be completed by February next year. In the second phase, a road from Shamshabad to Pedda Amberpet in one stretch and from Narsingi to Patencheru in another, in all 60 km, would be laid at an estimated cost of over Rs 2,440 crore. Read More>>

Monday, May 19, 2008  India Realestate

New Airport to Add to Hyderabad’s Brand Image

With the new international airport commencing operations near here, the brand image of Hyderabad is to go up, attracting more investment in IT, biotechnology and other industries.

The swanky Rajiv Gandhi International Airport, which has come up 30 km south of the city, is described as the new icon of this IT hub, home to many software giants. If Hyderabad IT and Consultancy (Hitec) City at the once sleepy Madhapur village placed Hyderabad on the world IT map in 1990s, the new international airport is expected to transform the city, especially the area off the highway linking Bangalore into a business hub and attract huge investments in various sectors. Read More>>

Tuesday, March 25, 2008  India Realestate

Carlson Hotels to Manage new Hotel in Hyderabad

Carlson Hotels Worldwide –Asia Pacific, one of the world’s largest privately owned hotel companies, will manage a new hotel in Hyderabad, the capital of the state of Andhra Pradesh and the fifth largest city in India.

Radisson Plaza Hotel Hyderabad Banjara Hills, scheduled to open in the first quarter of 2010, will be located towards the west of the city, within close proximity to the main tourist attractions, railway station and international airport. The 160-room hotel is owned by India’s Daaj Hotels & Resorts Pvt Ltd. Read More>>

Sunday, March 23, 2008  india Realestate

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