Promoters of Dabur Burman family to foray into real estate business
Oct 23, 2013
Source : The Economic Times

 

BANGALORE: The Burman family, promoters of the $1-billion FMCG major Dabur, is entering the Indian real estate market through a joint venture with a US-based private equity investor, said multiple sources briefed on the matter.

The Burman's entry into real estate follows a long list of Indian industrial families such as Tatas, Godrej, Mahindras, and Wadias among others, having entered the market to monetize their legacy land holdings across the country.

One of the sources citied earlier said that the Burmans will be kicking off their real estate foray with a mixed-use development on a 70-acre land parcel located along the Dwarka Expressway in the National Capital Region. A formal announcement on their entry into real estate is expected early next week. None from the Burman family were available for a comment.

Real estate analysts have always welcomed the move of industrial houses entering the Indian real estate sector, which carries a taboo of being a murky business that's steeped in controversies.

"Big Indian industrial houses bring with them certain standards of corporate governance that is far better than what exists in the real estate industry. Hence, their entry puts to rest some of the negative perceptions that consumers have about this sector," said a senior real estate analyst at a foreign bank.

 

Latest Realty News

Is Akrama-Sakrama on a strong foundation?
Oct 22, 2013
BANGALORE: Three governments, seven years, five chief ministers. That pretty much sums up the saga of Akrama Sakrama and the struggle by successive regimes in Karnataka to allow one-time regularization of urban building violations.
Bangalore East: Some emerging residential hotspots
Oct 18, 2013
BANGALORE: Bangalore east, as a result of the high concentration of IT and ITeS companies, has witnessed an increased residential spread over the last 8-10 years, with its localities emerging as self-sufficient micro-markets.
Karnataka plans PPP model for affordable housing
Oct 18, 2013
MANGALORE: The Karnataka Government is planning a public-private partnership (PPP) project to provide affordable housing to economically weaker sections.
Karnataka Govt to issue ordinance to regularise illegal buildings
Oct 17, 2013
BANGALORE: The Karnataka government on October 11 decided to promulgate an ordinance to regularise bylaw deviations in residential and commercial buildings in urban areas of the state by collecting penalty, from the date of its assent by the Governor.
Embassy to Raise Rs 800 crore in debt
Oct 16, 2013
BANGALORE: Bangalore-based real estate developer Embassy Property Developments is in talks to raise Rs 800 crore in debt to fund its planned acquisition of an IT park in the city, a person with direct knowledge of the development said. "The builder is in talks with banks and financial services companies including HDFC LtdBSE -2.37 % and Indiabulls to raise the debt," this person said. "Earlier, Embassy and Blackstone were jointly expected to buy the 2.1-million sq ft Vrindavan Tech Park, but now
Get set for property ownership card in Bangalore
Oct 15, 2013
BANGALORE: This could well be the best thing to happen for lakhs of property owners in Bangalore — an all-in-one property card. To curb duplication of khatas, the government has finally embarked on the Urban Property Ownership Record (UPOR) project.
80% of Bangalore’s buildings have violations
Oct 15, 2013
BANGALORE: The cabinet’s green light to Akrama-Sakrama will bring cheer to thousands of property owners in Bangalore and other cities and towns. The major beneficiaries will be large apartment complexes and big commercial buildings that have violated rules over the years.
Xander to buy Shriram arm’s IT SEZ for Rs 690 crore
Oct 15, 2013
BANGALORE: Global fund house Xander, the largest foreign investor in Indian realty assets, is close to acquiring an IT special economic zone in Chennai from the developer arm of Shriram Group for Rs 690 crore ($112 million), said people directly aware of the matter.
Will you have to pay VAT on your flat? SC ruling to push up property prices
Oct 14, 2013
BANGALORE: According to a recent verdict by the Supreme Court, the sale of a property that is under construction would be liable to value-added tax (VAT).
Government to issue ordinance to regularise illegal buildings
Oct 12, 2013
BANGALORE: The Karnataka government today decided to promulgate an ordinance to regularise byelaw deviations in residential and commercial buildings in urban areas of the state by collecting penalty, from the date of its assent by the Governor.

Latest Realty News Of State

Realty Talk's