For the week-ending 12th July 2013, BSE Sensex increased by 2.4% to close at 19,958.5, and BSE Realty Index increased by 0.3%.

Key News

  • ASK Property Investment Advisors has invested INR 147 crore in real estate company ATS Group’s Gurgaon housing project, the investment to develop this project, comprising 500 flats, is about INR 500 crore and expected sales realisation is about INR 1,000 crore
  • HDFC Asset Management Company has decided to sell its entire stake in Nitesh Housing Developers, a subsidiary of Bangalore-based Nitesh Estates, the fund house had bought 10.1% stake in the subsidiary of the real estate developer for INR 68 crore in 2009
  • Embassy Property is looking to raise up to $150m from Deutsche Bank
  • Green Tree Homes Ventures is planning to raise around INR 50 crore from private equity firms to support its ongoing products, the company is in talks with various private equity players through a model in which it would share revenue through a common escrow account
  • Abu Dhabi Investment Authority is looking to make an investment worth $200mn in Indian Real estate, ADIA hired Kotak Realty Fund as an investment manager for real estate to look at direct investment opportunities in the country
  • Donald Trump has announced his companies’ first Indian project, a 22-storied residential twin towers in Pune having 44 luxurious single-floor condominiums, Trump Tower Pune is being developed by Panchshil Realty, located in upscale Kalyani Nagar neighborhood
  • Clariant Chemicals put its Thane land for sale and expects to raise INR 1500-1600 crores from the 80 acre land parcel, companies like Oberoi Realty, Piramal Realty and Lodha Developers are some of the serious contenders in the fray, deal expected to be closed within six months