City Lights

2 pc home-seekers may buy within six months: 99acres.

2 pc home-seekers may buy within six months: 99acres

NEW DELHI: A survey conducted among oner 9000 registered users of 99acres.com revealed that 92 per cent of buyers confirmed that they plan to buy a property over the next six months. This indicates that affordable housing coupled with several new launches over the next few months has led to a feeling that the first half of 2011 is good time to buy property. Commenting on the trend,Vineet Singh,business head,99acres.com said The overall outlook for the industry is positive as indicated in the survey. Mumbai and Gurgaon will be hot investor markets during this year,delivering around 30-35 per cent returns.8221;

Metropolis to pump Rs 30 cr in project

NEW DELHI: Real estate firm Metropolis Landholdings,along with Expertise India,will invest Rs 30 crore into its upcoming project,Metropolis Tower,in Amritsar. The project,which consists of 55 studio apartments with a mall,will be ready in the next 24 months. The apartments are avaiable as 1,2 and 3 BHK flats,and will cost Rs 4,500 per sq ft,while the commercial area will cost Rs 8,500 per sq ft. The company has already sold 28 studio apartments in the project.

Phadnis bags infra contracts

NEW DELHI: Pune -based corporate house Phadnis Infrastructure has bagged a contract to build the ESIC Nursing College and Auditorium at ESIC Hospital,Indiranagar,Bangalore. The total cost of this project is around Rs 62 crore and the project is likely to be completed by March 2012. Vinay Phadnis,CMd of Phadnis Infrastructure said,Phadnis Infrastructure group has bagged some very prestigious projects in last quarter in various parts of the country. These projects includes development of residential colony,commercial buildings,hospitals,telecom towers in Maharashtra,Noida,Karnataka,Andhra Pradesh,Gujarat,Madhya Pradesh and other states. Put together,Phadnis Infrastructure currently has contracts worth Rs 427 crore in hand.

Nitesh launches mall in Bangalore

NEW DELHI: Bangalore-based property developer Nitesh Estates has announced the launch of Nitesh Mall in up-market Indiranagar. This mall is to be built with world-class amenities. The project,estimated to be about Rs 500 crore,is being designed by globally renowned retail design firm Callison of Seattle. Apart from the premium national and international brands,Nitesh Mall will also offer a hypermarket,a food court,departmental stores,fine dining restaurants,entertainment and a well-equipped kid zone.

HDIL announces Cyber City at Kochi

Mumbai:Housing Development and Infrastructure Limited HDILannounced the Cybercity project at Kalamassery,Kerala.The promoters of the project,Blue Star Realtors Private Limited,100 per cent owned subsidiary of HDIL will invest approximately Rs. 2300 crores in the project. The project will have built up space of about 10 million square feet in the 70 acres land at Kalamassery Special Economic Zone,expected to generate 60,000 new direct jobs.Buildings and structures will occupy 20 per cent and rest will comprise of green spaces.