Bidya Sapam

India: Kotak Realty Fund exits investment in Sunteck project

In 2012, the PE firm invested around Rs.150 crore during the acquisition of 16 acres of land for the project.

India: Mahindra Holidays acquires Finland-based Saimaa Gardens

Vacation ownership company Mahindra Holidays & Resorts India Ltd on Wednesday said it has increased its stake in Finland-based Saimaa Gardens Arena Oy to 100% through its overseas subsidiary Holiday Club Resorts (HCR). The Mahindra Group firm said HCR held 24% stake in Saima Gardens Arena (SGA), which operates hotels… Read more »

India 2015: Hotel deals rebound as sellers climb down on valuations

Deals in the hotel industry picked up in 2015 after a slump of more than four years as market conditions improved and valuations fell. According to property consultant JLL India, 15 hotel deals were signed in the country in 2015 against two in 2014 and three in 2013. Real estate… Read more »

India: HDIL to sell development rights of land parcel in Mumbai

Real estate firm Housing Development and Infrastructure Ltd (HDIL) will sell the development rights of its land parcel at Kurla, a suburb in Mumbai, to property developer DK Realty (India) Pvt. Ltd for Rs.649.51 crore, HDIL told the Bombay Stock Exchange (BSE) on Monday. The company, which is looking to… Read more »

Kolte-Patil, JP Morgan-backed Metropolitan Lifespace in deal to redevelop Mumbai housing project

Pune-based real estate firm Kolte-Patil Developers Ltd on Friday said it had entered into an agreement with Metropolitan Lifespace Real Estate Developers Pvt. Ltd, an entity managed by JP Morgan Asset Management, to jointly redevelop a housing project in Mumbai’s suburbs. As part of the agreement, Metropolitan Lifespace will invest… Read more »

India: Dharavimarket, that sells products made in world’s largest slum, eyeing seed funds to scale

Many a big brand has successfully tapped the online market. In this crowded space, a new e-commerce initiative is trying to make a mark, selling products made by residents of Mumbai’s Dharavi, considered to be one of the world’s largest slums. With the aim of showcasing the craftsmanship of slum… Read more »

India: Kolte Patil buys out 100% stake in Corolla Realty for $25m

Pune-based real estate firm Kolte Patil Developers Ltd has bought out its two joint venture partners in a Pune based real estate project. In a notification to stock exchanges on Monday, Kolte Patil said that it now controls 100% of Corolla Realty Ltd, a special purpose vehicle (SPV), after spending… Read more »

India: Godrej Properties sells 435,000 sq. ft BKC office space to Abbott for $228m

Pharmaceutical firm Abbott India Ltd on Wednesday bought 435,000 sq. ft at Godrej BKC in Mumbai’s Bandra-Kurla Complex for $228 million (Rs.1,479 crore) from its developer Godrej Properties Ltd to set up a corporate office. Godrej Properties informed BSE that it has closed India’s largest commercial real estate deal with a… Read more »

Online hotel bookings in India to more than double by next year: ICRA

Online hotel bookings in India are expected to jump two-fold by 2016 due to the increasing penetration of the internet and smart phones, according to a report. According to the report, titled the Emergence of Online Travel Agents, by rating agency ICRA Ltd, around 8.4 million Indians are likely to… Read more »

Abbott India buys office space in Mumbai for $211m

Pharmaceutical firm Abbott India Ltd has closed a Rs.1,400 crore ($211 million) deal to buy office space in Mumbai, in one of the largest commercial real estate deals in recent times, said two persons familiar with the transaction. Abbott has bought 500,000 sq. ft. in office space at Godrej BKC… Read more »