Tuesday, November 13, 2012

NEW DELHI, NOV 6:

Canada-based NRI billionaire, Bob Dhillon is considering investing up to $100 million (about Rs 540 crore) in the Indian real estate market and is planning to approach the Haryana government for developing a township near Chandigarh.

Dhillon, the President and CEO of realty firm Mainstreet Equity Corp, is visiting India as part of a large business delegation accompanying Canadian Prime Minister, Stephen Harper.

“I am looking at Haryana, more specifically areas adjoining Chandigarh, for development of a township. I am in the process of discussion with the state government,” he said.

Dhillon, whose family hails from Tallewal village in Barnala district of Punjab, noted that the ageing population of Indian diaspora in Canada — most of them are of descendants of Punjab — is looking for a second home in India. The planned project would be near upcoming international airport.

On likely investment, he said: “Under the right circumstances, we would consider investing $25—100 million in India.”

He said the investment in India might be in his personal capacity.

Asked about the Indian market, Dhillon said: “India is a developers’ dream because of its demographics, migration from rural to urban areas and collapse of joint family system.”

Stating that India needs institutional capital to deal with the rising housing demand, he said the government should make changes in laws to attract foreign investment.

The clarity in ownership rights, easy repatriation of capital and pragmatic landlord-tenancy Act are required for easy inflow of institutional capital, he said.

“I would be in the best market of the world, if the policies were tweaked to my appetite,” Dhillon said and hoped that the Indian government, which has made changes in retail FDI, would give priority to housing sector as well.

On his Toronto Stock Exchange-listed realty firm Mainstreet, he said the company, which acquires and rents apartments, has assets worth about $1.2 billion and has an annualised revenue of approximately $90—100 million. The company has over 8,000 apartments in Canada.

Saturday, June 16, 2012

Bangalore North - RG VILLAS

Heading north

Says Sam Chopra, Director – RE/MAX India, “Presently, real estate in North Bangalore is undergoing rapid transformation due to commercialization. Also, it is noticeable that the region has significant residential real estate activity, along with commercial developments. The demand is growing with corresponding low supply in the pipeline. Other significant factors are the proximity to the airport, road projects and upcoming Business Park in Devanahalli.”

North Bangalore is ruling the realty charts in a sense. “In the recent past we have seen a huge influx of residential supply and demand in the north of Bangalore.

Areas such as Sanjay Nagar, Sahakar Nagar, Hebbal, Jakkur and as far as Yelahanka New town have been areas in high demand.

Yelahanka – Doddaballapur road is witnessing a huge demand for landed properties such as villas and private gated colonies. While the North develops in a more efficient and organised fashion, Sarjapur Road and Bannerghatta Road still has its loyal customers. But with the market opening up in the North, developers and investors alike are skeptical of new developments in the east and south east of Bangalore,” says Ravindra Pai, MD, Century Real Estate.

North Bangalore is most likely to see the highest level of appreciation which may given go up to 20-30% in some properties. The real estate boom from Devanahalli near Bangalore is also creating a lot of spillover in places like Anantapur, Madakasira, Hindupuram, Chilamathur, Lepakshi, Parigi, Gorantla, Obuladevara Cheruvu of Anantapur dist which are as far as 65 km to 120 km away from Bangalore.

Ravi Benjamin Indian Real Estate Update: North Bangalore real estate thrives on IT sector g...

Ravi Benjamin Indian Real Estate Update: North Bangalore real estate thrives on IT sector g...: North Bangalore real estate thrives on IT sector growth Article The growth in North Bangalore thrives on IT development as a lar...