Tata to develop affordable housing in Boisar

The real-estate firm of the Tata Group,Tata Housing has announced an affordable housing project in Boisar near Mumbai,its second such project this year.

Tata to develop affordable housing in Boisar
The real-estate firm of the Tata Group,Tata Housing has announced an affordable housing project in Boisar near Mumbai,its second such project this year.

Brotin Banerjee,CEO of Tata Housing said,Every house is set in a well-finished modern building with attractive green streetscapes and lush landscapes. New Haven will set up a pan-India presence across tier-I and-II cities in India.

The new project would offer 1,300 apartments,including 2 and 3 BHK,starting at Rs 12.73 lakh per flat,with a minimum size of 670 sq ft.

SIDC plots pan-India presence
Shristi Infrastructure Development Corporation SIDC,a Kolkata-based construction company has started looking beyond West Bengal. The company has planned projects in Tripura,Sikkim,Jharkhand,Uttar Pradesh and Rajasthan.

According to Hemant Kanoria,chairman,Srei Infrastructure,real estate activities in these states are picking up and we expect a good response for our projects.

He said that projects initiated by the company include a residential complex in Bareilly,Uttar Pradesh,another one for ministry of defence in Bhopal,luxury apartments in NCR,and a district centre in Jaipur for the Rajasthan Housing Board.

Mhada to partner with private developers
The Maharashtra Housing and Area Development Authority Mhada is scouting for partnerships with private developers. Mhada has invited expression of interest EoI from realtors,if they would be interested in sharing their land for development of houses for economically weaker sections EWS and the lower income group LIG.

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At present,Mhada has only Mumbai and Nashik as its focus. The government agency has only 25 acres readily available for development. According to market experts because of dearth of land it to look at the public-private partnership PPP model.

Millennium Spire plans 400 million fund
Millennium Spire,the real estate investment arm of London-based Millennium Global has planned to launch a 350-400 million fund by the fourth quarter of 2009.

According to Abhijeet Bhalla,MD of Millennium Spire Asset Management,the new fund will invest in the Indian real estate sector as it did in 2007 for the first time with a fund of 60 million. It hopes to close the fund in the first half of 2010. The company plans to invest up to 1 billion,primarily in the residential sector,in high-growth cities stretching from Delhi in northern India to Coimbatore in the south.

DHFL raises Rs 250 crore debt
Dewan Housing Finance DHFL has raised Rs 250 crore through private placement of debt and plans to raise another Rs 500 crore through private placement of non-convertible debentures NCDs in the current financial year.

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Kapil Wadhawan,companys MD informed that DHFL had Rs 225 crore through a qualified institutional placement of equity shares and another Rs 75 crore through a preferential issue to the promoter group.