3C Company to invest Rs 3,500 crore on mixed use project in Noida
Nov 08, 2013
Source : The Economic Times

 

DELHI: Realty firm The 3C Company said it will invest Rs 3,500 crore on developing a mixed use project at Noida comprising a 5-star hotel and branded homes, to be managed by hospitality major Four Seasons Hotels and Resorts.

In 2011, the Noida-based realty firm had announced its tie-up with Four Seasons for management of its 300-keys hotel and 180 branded residences, each costing up to Rs 20 crore.

"We have got all permissions, including the environmental clearance, for mixed land use development. The project 'Delhi One' will have hotel, residences, luxury retail and office spaces," The 3C Company Director Vidur Bhardwaj told reporters here while launching the Four Seasons branded homes.

The investment on this project, spread over 12.5 acres, will be Rs 3,500 crore, he said, adding that private equity firm Red Fort Capital has invested in this project.

About 3.5 million sq ft of area would be developed in this project, comprising 2 million sq ft of office and 3,00,000 sq ft of luxury retails.

"We will be selling these residences by invitation at Rs 22,000-26,000 per sq ft. The size of flat is about 7,500 sq ft," Bhardwaj said. The project will be complete by 2016.

The concept of 'branded residences' is catching up in India with many real estate developers launching such project in tie-up with hospitality chains and fashion/iconic brands.

Earlier this year, Private equity firm IREO had entered into management agreements with Hyatt Hotels Corporation for branded 'Grand Hyatt' residences and a 'Grand Hyatt' hotel in its large township project in Gurgaon.

In March, Superetch tied-up with Italian fashion brand Armani group for interior designing of 100 super luxury residences in one of its project at Noida.

Recently, Mumbai-based Lodha Developers has also tied up with US-based Donald Trump to bring Trump branded residences in the financial capital.

Realty firm Homestead has two luxury branded residences projects in Gurgaon --Michael Schumacher World Tower and Ballet by Sharapova.

 

 

 

Latest Realty News

Aditya Birla Realty Fund invests Rs 125 crore in Tata Housing’s dwarka project
Nov 08, 2013
DELHI: The real estate fund of Aditya Birla Group has invested Rs 125 crore in a residential housing project being developed jointly by Tata Housing and Sidhartha group on the Dwarka Expressway in Gurgaon, two people familiar with the development said.
Parsvnath looks to monetise land assets in southwest region
Nov 07, 2013
DELHI: Realty firm Parsvnath DevelopersBSE -0.38 % today said it plans to monetise non-core land parcel in South- West India either through joint ventures with local builders or outright sale of plots.
DLF Q2 net profit drops by 28% to Rs 100 cr
Nov 05, 2013
DELHI: India's largest realty firm DLF Ltd reported 28 per cent fall in its consolidated net profit at Rs 100.05 crore during second quarter of the current fiscal due to lower sales and higher interest and tax outgo.
In key markets, realty prices may fall 10-15% in months
Nov 05, 2013
DELHI: In what could soon bring some cheer to home buyers, property prices are expected to fall 10-15 per cent in select markets over the next few months, as developers are trying to cut down on inventory and push sales.
'Dwarka Expressway sees nearly 3-fold jump in housing rates'
Nov 05, 2013
DELHI: Housing prices have jumped nearly three-fold on Dwarka Expressway in Gurgaon during last five years to Rs 7,000 per sq ft but slow pace of constuction of highway and litigation issues have become a major hurdle for growth of this corridor, property consultant DTZ has said.
IL&FS Engineering bags Rs 675 cr housing project
Nov 03, 2013
DELHI: IL&FS Engineering and Construction Company Ltd today said it has bagged a contract for building a high-rise residential project amounting to Rs 675 crore.
No festival cheer for realty developers as consumers on wait-and-watch mode
Nov 02, 2013
DELHI: Mid-size developers, which were banking on festivals to help them clear existing inventory, may still need more time to show a black profit graph.
Ground realty: Low interest in real estate
Nov 01, 2013
DELHI: When the Indian Grand Prix was launched at the Buddh International Circuit (BIC) near Greater Noida in 2011, there was a lot of buzz in the realty market in the region. Two years down the line, the initial sheen seems to be fading, at least for the time being. This, despite the fact that the region has seen an appreciation of up to 30% in prices even after a slowdown in the sector.
CCI rejects complaint against Larsen & Toubro in realty case
Nov 01, 2013
DELHI: The Competition Commission has rejected allegations of anti-competitive ways against diversified group Larsen & Toubro with regard to a housing project in Bangalore as it found no evidence of unfair practices in the case.
New home launches up by 5% in January-September: Cushman & Wakefield
Nov 01, 2013
DELHI: India's eight major cities saw launch of 1.32 lakh homes during January-September 2013, up by five per cent from the year-ago period, according to global real estate consultant Cushman & Wakefield.

Latest Realty News Of State

Realty Talk's