Mint producer KV Group enters realty business
Jan 30, 2014
Source : The Economic Times

 

DELHI: KV Group, a leading producer of mint, has forayed into the real estate sector with its first housing project in Greater Noida and is expecting a sales realisation of Rs 300 crore over the next three years.

KV Aromatics Pvt Ltd is a manufacturer, exporter and supplier of mint products, natural essential oils, aroma fine chemicals, peppermint oil and herbal products. It posted a net sales of Rs 500 crore in the last fiscal.

"We have diversified into the real estate sector as part of long-term strategy. We are launching our first project in Greater Noida West. We will be developing 950 flats in this project," KV Developers Director Aman Agarwal told reporters.

KV Developers has roped in Colliers International for project management consultancy.

"We will soon award the construction contract to a reputed company," Agarwal said, adding the project would be delivered by mid-2017.

He said the basic selling price has been fixed at Rs 3,295 per sq ft.

Agarwal did not disclose the investment in this project, but said the "sales realisation would be about Rs 300 crore".

He said the company is looking to expand its real estate business to other areas of Delhi-NCR like Gurgaon, Noida Expressway and Yamuna Expressway in the luxury and mid-segment category.

 

Latest Realty News

Protecting patents: India worst in world
Jan 30, 2014
DELHI: Despite the current decade being called India’s “decade of innovation”, the country has been ranked at the bottom of the list of 25 countries in terms of its intellectual property (IP) environment. According to the 2014 International Intellectual Property (IP) Index by the US Chamber of Commerce’s Global Intellectual Property Center (GIPC), India’s percentage score has fallen from 25 per cent in 2012 to 23 per cent.
Noida to allocate Rs. 9, 000 crore for annual budget
Jan 30, 2014
NOIDA: The Noida authority on Wednesday said that it is likely to approve Rs. 9, 000 crore annual budget for financial year 2014-15, in its board meet scheduled to take place on February 12.
New directive from apex court on Greater Noida West
Jan 30, 2014
DELHI: In a recent hearing in the land-acquisition case pertaining to Greater Noida West (formerly Noida Extension)—comprising villages like Patwari, Bisrakh, Khairpur, Roja, Itehda, Haibatpur, Saini and others—the Supreme Court has directed the protesting farmers to file their counter-affidavit within three weeks with regard to their objections to the compensation formula worked out between them, the developers and builders, and the Greater Noida Industrial Development Authority (GNIDA).
Cosmic Group launches two new projects in Noida
Jan 30, 2014
NOIDA: Cosmic Structures Limited is the real estate division of the prestigious Cosmic Group. They are an emergent Real Estate Developing company in the Indian realty space with more than two decades of satisfactory deliveries. Their passion and aim is to be a respectable and trustworthy builder & developer in the competitive world of real estate in India and abroad.
RBI should explain why it is increasing rates: Rajeev Talwar
Jan 29, 2014
DELHI: The Reserve Bank of India (RBI) increased the repo rate on Tuesday. If the rise in repo rates does not lead to an increase in bank rates, it is a temporary measure to track inflation. If inflation goes down, RBI will, hopefully, reduce rates. If bank rates rise, it will impact the industry and economic growth will suffer a setback. Going forward, I hope RBI will not increase rates.
Hike in key interest rate to hit property market: CREDAI
Jan 29, 2014
DELHI: The Reserve Bank's hiking the key policy rate today will hit property sales, particularly in the residential segment, real estate developers said while expressing disappointment at the move.
Realtors left wringing hands with home loans set to cost more
Jan 29, 2014
DELHI: Hit by slowdown in sales coupled with few new launches, the real estate sector says it is disappointed by the Reserve Bank of India’s move to hike the repo rate.
Cabinet to take decision on FDI in farm land
Jan 29, 2014
DELHI: The UPA Government has formed a three-member Cabinet committee to examine the possibility of opening up agricultural land to Foreign Direct Investment (FDI), following a Union Urban Development (UD) Ministry proposal on letting foreign realtors buy agricultural land.
Tips on constructing your own bungalow
Jan 29, 2014
DELHI: While there are significant advantages to buying a ready bungalow from a reputed developer, many individuals prefer to build their own homes as per their own specifications. Here are some guidelines on what involves constructing your own bungalow:
DDA okays draft land pooling policy
Jan 29, 2014
DELHI: The real estate potential of about 70,000 acres in outer Delhi locations like Mehrauli, Bijwasan, Chhatarpur and Ghitorni came one step closer to realization with DDA board of directors approving draft regulations of land pooling policy in their last meeting.

Latest Realty News Of State

Realty Talk's