The most Awaited.....

Purva Moonreach - Sky Homes on Seaport - Airport Road, Kochi.

















The views from Moonreach are breathtaking and unique. But frankly speaking, these words still don't measure up to the views.For more details visit puravankara.com


Project Type:
Residential Apartments

Location:
Seaport-Airport Road, Kochi.

Distances:
700 mtrs - Bharat Matha College
1 Kms - Kakkanad Pvt. Bus Stand
1 Kms - Collectorate
2.2 Kms - CEPZ
4 Kms - Info Park
4.5 kms - Palarivattom
7 kms - Railway Station
8 kms - MG Road
20 kms - International Airport

Unit Types:
3 Bedroom Apts.

Unit Sizes:
1925 - 1959 Sft.

Unit Cost:
Rs. 46 lakhs onwards.
US$ 109,500 onwards.

Project Status:
Just Launched

DLF premises sealed

GURGAON: In a major sealing drive, the enforcement department of Huda on Tuesday sealed 26 properties. The agency also announced that about 15 sites would be auctioned everyday to create more commercial space. The properties sealed are in DLF Phase-I, including six clinics, an IT office, offices of nine real estate agents, a restaurant, three guesthouses, three boutiques, a preparatory school, a building housing a cellular tower and a car service station. Earlier, the agency had sealed nearly 104 residential properties where commercial activity was being undertaken. Officials maintained that though there is a high court order to disconnect sewer and power connections, they were sealing only portions used for commercial activities. Huda administrator S P Gupta said the operation was part of the ongoing drive. ‘‘We have already warned those indulging in commercial activity in residential areas. In our attempt to create enough commercial space, we will shortly start auctioning such spaces,’’ Gupta said. DLF City RWA secretary general Sudhir Kapoor said they were against any type of commercial activity in residential areas.

Largest ever investment in Mumbai based real estate company

JP Morgan arm invests in Lodha Builders

MUMBAI: JP Morgan's Principal Real Estate Investments arm has invested Rs 274 crore ($60 million) in a property project with Lodha Builders. This is the largest ever investment in a project of a Mumbai-based real estate company. The investment is in Lodha Bellissimo, a premium residential property being developed at Apollo Mills, Mahalaxmi in one of the mill lands sold by the National Textile Corporation. J P Morgan will invest in the project as debt and pick up a small stake in the company. The total cost of the project is over Rs 800 crore. In return, Lodha will give a fixed return on the investment to J P Morgan till its investment is paid off. "This is a structured equity investment," said Abhishek Lodha, director, Lodha Developers. Lodha Builders is one of the largest property developers in Mumbai with current projects totalling 7 million sq ft in floor space and a pipeline of over 25 million sq ft. The company undertakes retail, office and residential projects, with emphasis on integrated mixed-use developments. Commenting on the development, Tyler E. Goodwin, vice-president of J P Morgan and responsible for investing in real estate across Asia excluding China, said:"J P Morgan is very excited about this partnership with Lodha Builders. We have invested significant time and effort in understanding the market and the key players." Abhinandan Lodha, director finance, Lodha Builders, said:"We are in a phase of aggressive expansion across western and southern India, with a focus on premium residential as well as retail and office space projects. We are very happy to partner with J P Morgan for one of our premium projects, as this gives us the ability to access resources to fuel our growth plans which will make us amongst the top 5 real estate developers in the county by 2008." Bellissimo is coming up on the 7.5 acre mill land Lodha purchased for Rs 180 crore in June last year. The property is expected to be completed by the year 2009. Booking for the project, which started at around Rs 10,000 per square feet, is now being marketed at Rs 15,000. The group has also earmarked Rs 4,500 crore for land acquisition in the next 18 months. With over 2000 acre of land bank, Lodha is developing an 80 acre IT special economic zone (SEZ) and an 800 acre textile SEZ outside Mumbai. "Hospitality will be our next venture. And, it will take our presence across all formats including residential, commercial and retail," Lodha said.

Invest in Real Estate to meet food expenses.

Your breakfast just got dearer
CHENNAI: If you are that typical south Indian who relishes hot idlis and omlette for breakfast, you must have noticed that your bill has bloated. The increase in the price of urad dal has propelled the hike in idli prices. Chennai restaurants have nearly doubled prices. Mid-tier ones now sell a plate of idlis (two pieces) for Rs 10. "Six months ago, we were selling them for Rs 7 a plate. Urad dal prices have nearly doubled. Today we pay Rs 5,100 for a 100-kg bag. A couple of weeks ago, it was Rs 5,900. Last year, around this time, the price was around Rs 3,000. How long can we sell at a loss?" says a Chennai hotelier. Madhav of Kaycee’s on Church Street, Bangalore, says he’s planning to reduce the size of idlis and increase the price of vada from Rs 8 a piece to Rs 10 from January 1. "All input costs have increased steeply. Sunflower oil price is up almost 40%, to Rs 70 a litre, in the past six months." Roadside eateries are the worst hit. "In the past three months, we have increased idli price by 50 paise. We now sell them at Rs 3 a piece. We promote poori over idli," says Mani, who runs a joint in Chennai. B R Ramakrishna Bhat of Sanman Hotel in Seshadripuram, Bangalore, says: "So many self-service hotels that used to sell idlis at Rs 6 a plate have raised it to Rs 8. Better hotels sell it at Rs 10 per plate." P Suresh, who runs the Sangeetha hotel chain in Chennai, explains: "Our chain has a stable pricing policy. Even when onion prices shot up, we absorbed the loss. But the present price of urad dal is making things difficult." (With inputs from Bangalore)

BANGALORE: The real estate boom

BANGALORE: The real estate boom triggered by the information technology (IT) revolution has changed the face of Bangalore's underworld and led to the emergence of land mafia.
With land value in the city soaring after the advent of the IT companies, several underworld operators have turned into real estate agents. A positive spin-off of this has been that underworld elements have almost stopped making money from adulterated oil trade and extortion rackets and by collecting "hafta" from brothels, clubs and lottery joints, say senior police officials.
"As they can easily earn lakhs of rupees in any one real estate deal, many of them have given up such activities and have entered into the real estate business," says the Joint Commissioner of Police (Crime), M.C. Narayana Gowda.
Realtors say the land value in Bangalore, which had plummeted during 1995-2000, has seen a steady increase from 2000 after several IT companies and their ancillary units set up business here.
The Assistant Commissioner of Police (Ulsoor Gate), B.B. Ashok Kumar, says that in addition to the locals, a large number of people from elsewhere are employed in IT firms here.
Most of them earn Rs. 30,000 to Rs. 1 lakh a month, according to sources in the industry. There are a large number of Bangaloreans who are employed in IT firms abroad, earning in dollars. Most of the IT professionals are investing in real estate here. The IT companies too are buying land in a big way, Mr. Ashok Kumar says. According to the Assistant Commissioner of Police (Organised Crime Prevention Cell), B.K. Shivaram, once the real estate boom set in, the underworld operators started dealing in land in Whitefield, which has many IT companies.
Now such elements are mainly dealing in property in east, south and north divisions of the city and in Bangalore Rural district. Their modus operandi is to threaten the owners, buy land from them at cheaper prices and sell them at higher prices, Mr. Shivaram says.
Mr. Narayana Gowda says that in some cases the anti-social elements have created fake documents and claimed ownership of property. The genuine owners had either sought the help of the police or sold the land to the gangsters at a throwaway price.
Mr. Shivaram says there is hardly any underworld element who is not into real estate business. To ensure that their business interests do not clash, they have "divided" the areas among themselves. "`Real estate agent' is the new found status of the underworld operators," he says.
According to Mr. Narayana Gowda there have also been instances of underworld elements killing their rivals over land deals. "We have even come across cases where some people had used the names of underworld dons to carry out their business," he says.
The police say it becomes difficult for them to take action against such people as in many cases the property owners do not lodge complaints, apparently out of fear of the gangsters.