Ashiana Housing debuts in India with its Retirement Resort Utsav

News Posted - 2010-03-12

With Aristo, Lodha Group, creates in Thane an unprecedented luxury housing project, with a vision to build better lives through innovative solutions and the best value for money.

With only one villa per floor, Lodha Aristo goes much beyond quality construction, making a definitive statement in opulence and luxury - from cutting-edge home automation technology with cell phone-operated appliances to a private theatre in the residence. Exclusivity and Privacy are the operative words here.

The residences at Aristo are 4995 sq ft AC Villas, fitted with fully-fitted Poggenpohl kitchen, Kohler Sanitary ware and Hansgrohe bath fittings as well as Agglomerated marble flooring in master bathroom.

Source: 5/3/10

Emaar MGF to invest Rs 500 cr in Gurgaon project

Real estate major Emaar MGF will invest Rs 500 crore to build a mid-income housing project at Gurgaon in Haryana.

The company, which plans to launch its initial public offer to raise up to Rs 3,850 crore, would develop 1,250 units in the 29 acre-project located at Sector-77 in Gurgaon.

Sources said that investment in the project 'Palm Hills' could be around Rs 500 crore, excluding the cost of the land.

With a starting price of Rs 48 lakh the company has sold 650 units in the first phase.

"The encouraging response on the first day of launch is a testimony to the prevailing huge demand for quality housing in the mid-market segment," Emaar MGF Executive Vice Chairman and Managing Director Shravan Gupta said.

Emaar MGF is a joint venture between Dubai-based Emaar Properties and domestic firm MGF. It commenced its operations in India in 2005 and recently got approval from the SEBI for its maiden public offer.

Of the total proceeds from the issue, Emaar MGF plans to utilise Rs 1,972 crore for part re-payment of debt of over Rs 5,800 crore. The company would use Rs 820 crore for redemption of certain redeemable preference shares and will invest Rs 276.8 crore in paying development and licence renewal charges.

Emaar MGF has a land bank of 11,340 acres. It currently has 29 projects, including the Commonwealth Games Village.

Source: ET 11/3/10

HCC bags RS 299 cr orders

Hindustan Construction Company or HCC plans to invest about Rs.50,000 crore in its township project in Lavasa near Mumbai, over the next 12 years, report media, quoting Lavasa Corporation President Rajgopal Nogja on Tuesday.

The company invested Rs.2,500 crore in the project through its group company Lavasa Corporation. It entered into an agreement with renowned biologist Janine Benyus to incorporate an "international model for architecture inspired by nature" in the project, he added.


HDIL may raise $200 mn from QIP

Housing Development & Infrastructure Limited (HDIL) is planning to raise another round of funding through qualified institutional placement. Market sources estimate that the issue size will be around $200 million. HDIL will use this money for expansion, sources said. Earlier, HDILs board had approved plans to raise up to $600 million. Of this amount, the company has already raised around $400 million.

Source: Business standard