New 130,000SF Institutional Grade Office Building Slated for Gurgaon, India

The WIRE Group have unveiled plans to develop a 130,000SF International Class A Office building in Gurgaon India (about 20 miles southwest of New Delhi CBD). The build-to-suit facility will be built on 1 acre adjacent to the Jaipur-Delhi Highway, one of the region's main north-south arteries. LEED Certified professionals will be involved in the design and development of the building. The amount of the transaction was not disclosed.

“From the beginning, we were conscious of the commute that many business professionals undertake while working at other buildings in the Delhi regional area. WIRE’s planned office building is less than a 3-km drive to the New Delhi Airport, and a 25-km drive to Delhi’s Central Business District. The location will allow local professionals to reduce their daily commute time significantly and allow out of area executives to quickly reach the building from the airport,” said WIRE Vice President Ashok Segu.

The location of the site makes the planned office building a draw for Multi-Nationals targeting well-educated knowledge workers in a cosmopolitan city. Designed by Korth Sunseri Hagey Architects out of San Francisco, the hi-tech, state-of-the-art building will be built to International Class A standards with back up power generators and advanced fire suppression systems. The building will be equipped with the latest audiovisual, presentation and communications equipment, powered by high-speed broadband technology.

Source: http://www.indiaprwire.com/pressrelease/real-estate/200611291191.htm

Delhi proposes 5-tier plan for business areas

Against the backdrop of the sealing controversy and inadequate authorised commercial space, the Delhi government’s ministry of urban development has envisaged a five-tier system of commercial activities—convenience shopping centres, local shopping centres, community centres, district centres and metropolitan city centres—in the draft master plan 2021. The master plan will continue to provide for retail outlets in transport nodes like Metro stations.

It remains to be seen whether the government will allow modern structures such as those in Gurgaon and Noida or carry on with its old designs as seen in south Delhi’s Saket and Bhikaji Kama, retail analysts say.

SEZ, a real estate scam in making

The proposed Special Economic Zone (SEZ) in Haryana is heading towards becoming a real-estate scam. The government is deliberately withholding information to cover up the selling of the interests of the state and its people. And in its present form, the SEZ to be set up in partnership with Reliance is neither desirable nor beneficial.

Stating this here today, Prof Yoginder Yadav, political scientist and psephologist, questioned the rationale of the government behind the plan to set up SEZs in the state. “We will go to the people to spread awareness on the issue and pressurise the government to come out with information that has been withheld from the public so far”.

The campaign would be spearheaded by the Sampuran Kranti Manch, a socio-political organisation of which he was an executive member, Professor Yadav said. Announcing the launch of the awareness camping from here, he said that awareness rallies and camps would be held in every village of Jhajjar and Gurgaon districts where the SEZs were proposed to be set up. Similar activity would follow in every district of the state.

Source: http://www.tribuneindia.com

Peninsula Land plans Rs 2,500 cr realty plunge

The Ashok Piramal group-promoted Peninsula Land will be investing Rs 2,500 crore in the Indian real estate sector over the next two years. The company is looking at prospective investment opportunities in both residential and commercial real estate projects, information technology parks and special economic zones (SEZs).

For the purpose of investing in the sector, the group has floated a special purpose company, Peninsula Realty Fund (PRF). PRF has already got the cabinet committee on economic affairs (CCEA) nod for bringing around Rs 1,500 crore as foreign direct investment in real estate Gurgaon.

Apart from this, another Rs 500 crore will be raised from domestic investors and the parent company will put in Rs 500 crore. While the company is all set to officially launch the domestic fund sometime next week, the international fund will be launched in January 2007.