Lucknow sets to become a hot realty hub

Lucknow is all set to become a hot realty hub. The capital city of UP has been witnessing an appreciable growth.
Lucknow termed a better home and investment destinations.

Lucknow termed a better home and investment destination.

LUCKNOW: Realty booms where there is good infrastructure and connectivity. This is common. This is the same thing what happens in Lucknow now.

The city is growing very fast. If it continues to grow like this, then there is no doubt, the city will become one of the most sought after cities in the country.

However the builders are rushing to the Capital city of UP now to purchase lands for development. Why do they rush? They do have to rush otherwise they are sure of losing a better chance to gain higher returns.

Lucknow, with proposed IT city and international stadium, has become more favorite destinations for both the investors and the end –users. With the launch of IT city more people will be getting jobs in the city. Continue reading

Omaxe Is Likely to start AIIMS Project

All India Institute of Medical Sciences
April 19, 2010

Omaxe, one of the leading real estate construction and development company has come up with a Rs 64.8 cr project. This project is the All India Institute of Medical Sciences (AIIMS) which will be constructed at Rishikesh, Uttarakhand. Mr. Rohtas Goel, the Chairman and Managing Director of Omaxe also added that the project would start next month.

He informed that the order book of Omaxe stood at Rs 825 cr. He also plans to add Rs 200-crore order for Omaxe Infra in FY11. Their next strategy will be to raise Rs 800 crore but are yet waiting for conductive market conditions.

While bringing the company’s projection for FY11 into limelight, Goel said the company’s infrastructure arm’s sale were seen at Rs 500 cr vs. Rs 200 cr. Also, for this year, a profit of Rs. 50 cr. was seen.

Omaxe may raise prices

Real estate developer Omaxe Ltd may raise prices this financial year and plans to launch four new projects over the next two months on rising demand, its chairman said.
Mr. Rohtas Goel said, “Demand might be robust. I will increase prices very soon, in single digits within this year”.
The firm will invest fifteen billion rupees on the new projects, Goel said, adding he expects revenues of 23 billion rupees from the projects over 30 months.
India’s property market is recovering from a bottom hit earlier this year, and analysts say much of the demand will be from middle-income and affordable housing.

Indian developers set sights on Sri Lanka

Sri Lanka is taking small steps to revitalize its shabby forty billion dollar economy. Delegates from the Sri Lanka board of investment met officers from real estate giants for investments and have liberal rules governing businesses.

It aims to spend twenty million dollar in encouraging the nation for global tourists.

Ravi Puravankara, MD-Puravankara group, said, “With the civil war over, we are seeing a huge demand for housing”. The group is planning to launch a villa project in Colombo. Further he added, “We have already initiated the land acquisition process”.

The Sri Lankan government is aiming an FDI of two billion dollars by next year. According to government statistics, Sri Lanka received $889 million in FDI during last year and four hundred million dollars, so far, this year. The Board of Investment refused to comment on how much it expects the Indian real estate developers to invest.

Omaxe to develop Hi-Tech Township in Lucknow

Omaxe Ltd. is going to develop a Hi-tech township spread over about 2700 acres in Lucknow the city of nawabs. Garv Buildtech Private Ltd, a subsidiary of Omaxe, has entered into a MoU to develop the said Hi-tech Township in Lucknow.

The Hi-Tech Township which is expected to yield estimated revenue of over Rs 2800 crores will be executed over a period of 5-7years and is slated to cater to the growing demand of quality living space in the city. The township is strategically located on the proposed Lucknow Ring Road in close proximity to Lucknow Airport and only half an hour drive from Hazratganj, center of Lucknow city.

Speaking on the announcement, Mr. Rohtas Goel, CMD, Omaxe Ltd said, “The hitech township is an attempt to recreate an entirely new living experience in the city of Nawabs. There is already substantial pressure on the existing infrastructure and this township will attempt to ease the demand by providing state of the art facilities in close quarters. This hi-tech township will indeed reinforce the commitment to develop and deliver a world class product to the new aspiring class of local residents and the migrants from other cities.”

Omaxe subsidiary will develop township

Construction firm Omaxe said its subsidiary has entered into an agreement with Allahabad Development Authority for the development of a township in Allahabad.

Pancham Realcon has has entered into a memorandum of understanding for the development of township in Allahabad on a proposed area of 1,535.12 acres, Omaxe said in a filing to the Bombay Stock Exchange. However, the company has not disclosed the financial details of the township project.