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| Indians stake claim on prime properties in London |
| Monday, September 10, 2007 |
London is fast becoming a second home to rich Indians. It is no longer a metaphor but literally true - more and more Indians are buying homes in the British capital.
Last year 60 per cent of the £5 million-plus properties sold in Central London were bought by foreigners. While many of these were Russians and Americans, Indians were giving them a run for their money too. "My phone is ringing off the hook with Indians eager to buy property in London," said Jaideep Singh, head of the India desk at Knight Frank, real estate agents that specialise in properties in Central London.
"Two years ago there were hardly any Indians wanting to buy in London, except for those already living here. In the last year and half we have seen a phenomenal rise in interest," Singh told DNA.
Knight Frank's India desk is ten years old, but till now it had dealt mostly with resident NRIs. The interest from Indians has even forced Savill's estate agents, Knight Frank's main competitors, to set up an India desk and hold a roadshow of luxury properties in India.
"They want as prime as it gets," said Sheetell Chantel Halai, head of Savill's India desk. The most popular areas for purchase by Indians are the most exclusive areas of the capital like Belgravia, Mayfair, Knightsbridge, Oxford Street, Marble Arch, St. John's Wood and Kensington. There are also those who wish to buy in Ealing and Southall to be near friends and relatives who live permanently in West London.
Resource://dnaindia.com |
posted by India Properties @ 11:53 PM  |
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| HDIL to buy HMT's Kochi property for Rs 200 cr |
| Monday, September 3, 2007 |
According to sources, HDIL is in talks to buy HMT's 7 million sq-ft property in Kochi. The HDIL-HMT land deal size is likely to be about Rs 200 crore, the sources added. At this amount, it will work out to Rs 5 per share for HMT. The management has not responded on the deal yet.
From the earlier managements of HMT, it is learnt that they were eventually looking out for this kind of a value for most of their properties across India. There is no information on exact deal sizes and exactly how much these properties could be valued at.
HMT has about 100 acres of land in Kerala, around 800 acres in Haryana and around 500 acres in Hyderabad. Haryana being a prime property, it could fish out the maximum value of all the four India properties they have across pan . As of now, there is no word from the management of HMT.
HDIL too has refused to comment on the development. But of late, HDIL has been on a buying spree. They recently signed an MoU to buy Eveready’s 15 acre property in Navi Mumbai for Rs 115 crore. They are also buying Kilburn’s 8.32 acres in Bhandup for Rs 124 crore.
Source : //moneycontrol.com |
| posted by India Properties @ 2:30 AM |
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