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Altico Capital invests Rs 400 crore in two residential projects

Posted on Dec 29, 2016
MUMBAI: Altico Capital has invested Rs 400 crore in two separate projects of Pune-based Pharande Projects and Noida-based Panchsheel Buildtech. Both the projects with a total 7.5 million sq ft saleable area are currently at an advanced stage of construction.

Under these investments, the non-banking financial company (NBFC) has extended debt of Rs 175 crore in Pharande Puneville, at Punawale off Mumbai-Pune Highway and Rs 225 crore in Panchsheels Greens II project at Noida Extension in Greater Noida.

The proceeds of the structured debt funding with a tenure of five years will be used for completing the construction of the project and be disbursed in tranches.

Recently, Altico Capital has deployed over Rs 1,000 crore in the NCR market having closed transactions with Vatika, SARE Homes and now Panchsheel.

“In terms of absorption, Greater Noida is the largest micro-market in NCR. Also, while the Noida market has seen a slowdown in sales, Greater Noida, and more specifically Noida Extension within that, has seen uptake in sales as well as a reduction in inventory overhang over the last one year owing to the affordable ticket sizes in this location,” said Sanjay Grewal, CEO, Altico Capital.

Panchsheel Buildtechs under-construction project Greens II has aggregate saleable area of 5.5 million sq ft, with 4,200 residential apartments across 28 high-rise towers and 200 villas. The project has received all approvals and around 55% of the units have been booked. Construction is at advanced stage with more than half the project cost already incurred and few towers close to delivery.

Altico Capitals second transaction with Pune-based Pharande Groups Pharande Puneville project has an aggregate saleable area of 2 million sq ft spread across 18 high-rise residential towers and 1,530 units.

The first phase of the project is more than 65% sold and has reached advanced levels of construction. Pharande group has so far developed over 3 million sq ft in Pimpri-Chinchwad Municipal Corporation.

In July this year, Altico had sanctioned Rs 180 crore against two other under-construction projects of the Pharande group — Woodsville and L-Axis — also in the PCMC. Mumbai-based investment banking firm Elysium Capital was the sole advisor to the transaction.

"We will continue to back strong and resourceful developers who have consistently shown superior execution and delivery track record in their respective micro markets. Our focus will remain on funding mid-income and affordable residential projects with some degree of established marketability," Grewal said.

Panchsheel group is focused on developing residential projects in Noida, Greater Noida and Ghaziabad and has developed over 6 million sq ft in the past and is currently developing projects with a total area in excess of 9 million sq ft.

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Kohinoor Group-Pune to invest Rs 300 cr in logistics parks

Posted on Oct 06, 2016
Pune-based real estate developer, Kohinoor Development Corporation (KDC) proposes to invest Rs 300 crore in setting up two logistics parks in Maharashtra."We are setting up two logistics parks in Chakan and Ranjangaon in Maharashtra. The Rs 600 crore projects will be funded through 50:50 JV and we will invest around Rs 300 crore in the said project ...
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Real estate developers open office space to retail investors

Posted on Oct 04, 2016
Real Estate Investment Trust (REIT) is expected to boost investment and expand the rental market. But even before the roll out of REIT, the commercial real estate sector has got a shot in the arm with yet another developer introducing collective ownership of office space in the city.Bangalore-based Puravankara developers have opened up two floors o ...
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Kotak Realty Fund invests Rs 155 cr in Chennai residential project

Posted on Sep 20, 2016
BENGALURU: Private equity fund Kotak Realty Fund has invested Rs 155 crore in a residential project of a Chennai-based builder Alliance Infrastructure Projects. The transaction marks one of the largest residential deals in Chennai in the last one year.Vikas Chimakurthy, Senior Executive Director, Kotak Realty Fund, said, "The money will be used to ...
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Unitech to raise funds to speed up housing projects

Posted on Sep 13, 2016
New Delhi: Facing consumer complaints over delay in project completion, realty firm Unitech today said it will raise about Rs 300 crore from financial institutions and sale of land parcels to complete over 40 housing projects comprising 13,000 flats within the next two years.Unitech said it requires Rs 2,700 crore to complete these 41 pending proje ...
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DLF to invest Rs 500 cr on developing IT park in Chennai

Posted on Sep 13, 2016
Realty major DLF will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities.The country's largest realty firm has exhausted its commercial space stock by leasing out over 32 million sq ft. It expects to earn about Rs 2,700 crore rental income in the current fiscal from its port ...
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It's time to plan your home purchase

Posted on Sep 13, 2016
BangaloreEvaluate options and plan now to make the most of the attractive festive season offers.With the festive season on and the major festivals of Dasara and Diwali coming next month, prospective homebuyers who have been evaluating options need to gear up and begin the decision-making process. This is the time when prospective homebuyers get att ...
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Shapoorji Pallonji, Piramal to invest Rs 300 crore in city project

Posted on Sep 13, 2016
MUMBAI: Ajay Piramal's Piramal Fund Management and Shapoorji Pallonji Real Estate Development will pump in about Rs 300 crore in a real estate project launched by Mumbai-based developer Ornate Spaces.The duo, along with Ornate, will construct a 1 million sq.ft residential project titled Grove Towers at Oshiwara in suburban Mumbai. The project manag ...
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Property investment can beat inflation impact

Posted on Sep 07, 2016
Delhi/NCRInvesting in property helps you beat the effects of inflation and generate high returns, over the long term.Many buy property for themselves to live in. Owning a property gives one a tremendous sense of confidence.You can save on the monthly rent. Also, you are insulated from the annual raise in rent and the possibility of having to vacate ...
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Is it the right time to buy a home in Alapakkam

Posted on Aug 31, 2016
What Kabali has done for Chennai is that it has made people look at this southern metro with new eyes. Chennai, the staid sedate old lady among metros, is giddy and flamboyant as they come: themed cars and aircraft, companies giving employees a holiday to watch a film, ‘first day, first show and what not. Is that a change? Not really, Chennai has ...
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Shapoorji Pallonji, Piramal to invest Rs 300 crore in city project

Posted on Aug 24, 2016
MUMBAI: Ajay Piramal's Piramal Fund Management and Shapoorji Pallonji Real Estate Development will pump in about Rs 300 crore in a real estate project launched by Mumbai-based developer Ornate Spaces.The duo, along with Ornate, will construct a 1 million sq.ft residential project titled Grove Towers at Oshiwara in suburban Mumbai. The project manag ...
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Properties in Rs 2,500-5,000/sq ft range good investment: JLL

Posted on Aug 18, 2016
NEW DELHI: People looking to buy homes should invest in properties in the range of Rs 2,500-5,000 per sq ft as this price tag provides protection against any capital value erosion and guarantees appreciation, according to realty consultant JLL India.In its report 'Creating Wealth With Residential Real Estate Investment', JLL has listed out various ...
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Growing realty hotspots

Posted on Aug 18, 2016
AhmedabadWith a number of new projects being launched in various localities in Ahmedabad, the city is set to attract more investors as well as homebuyers.Ahmedabad is emerging as a big option when it comes to investment, be it commercial or residential. With the official announcements about the proposed Metro rail, new and renovated railway station ...
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Quarter review: Thane gains popularity

Posted on Aug 18, 2016
Thane should be credited for relieving pressure from Mumbais residential market. Not just Thane, other satellite towns such as Bhiwandi and Navi Mumbai also share the responsibility. The city is gaining popularity due to new planning and availability of open areas.One of the new plans got approved by Mumbai Metropolitan Region Development Authorit ...
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Expert tips for real estate investment in India

Posted on Aug 18, 2016
A real estate investment is generally one of the largest investments for most of us, a wrong decision can have a significant impact on our lives. Hence, it is extremely important to try and understand some underlying fundamentals of real estate investing.First things, first. Why do you want to buy real estate. Are you buying a home where you can li ...
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Living in luxury

Posted on Aug 09, 2016
HyderabadLuxury properties in the city see a growth in demand and supply.World class infrastructure, great employment and entrepreneur opportunities and an economic growth more than the average national economic growth, has all made Hyderabad a place where one wants to live. With an abundance of affluent buyers in the city, the realtors in the city ...
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Huda to launch fresh sectors across state to raise funds

Posted on Aug 09, 2016
Gurgaon: Huda is about to launch 15 new sectors in urban areas across the state. The announcement was made last week. By selling plots in these, the authority hopes to tide over its financial crisis. Huda expects to earn more than Rs 3,000 crore from selling plots in these sectors. Towns to reap the windfall include Mahendragarh, Sirsa, Hisar, Kuru ...
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Properties in Rs 2,500-5,000/sq ft range good investment: JLL

Posted on Jul 26, 2016
NEW DELHI: People looking to buy homes should invest in properties in the range of Rs 2,500-5,000 per sq ft as this price tag provides protection against any capital value erosion and guarantees appreciation, according to realty consultant JLL India.In its report 'Creating Wealth With Residential Real Estate Investment', JLL has listed out various ...
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Private equity funds signal optimism for the real estate sector

Posted on Jul 26, 2016
Does the spate of private equity (PE) investments in the real estate sector over the past few quarters signal better times after the prolonged downturn?Data collated by Venture Intelligence shows that 15 out of the 16 PE deals worth nearly $569 million struck with realty firms were focused on residential projects in the metros. Although the value i ...
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Residential real estate in B'luru: A good investment bet

Posted on Jul 20, 2016
The real estate market in Bengaluru is gaining ground, thanks to sustained growth in market prices and investors interests. Being the IT hub of India, Bengaluru has a multi-cultural population with good social infrastructure, excellent educational institutes and constantly upgrading physical infrastructure.A redeeming feature of this market is tha ...
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