Delhi's Golf Links Is Still Happening

The slowdown in the realty sector has not stopped India's rich from striking housing deals in Delhi ’s posh area at sky-rocketing prices. In the last two months, three high value transactions have been made worth Rs 300 crore in Central Delhi's elite Golf Links locality, where infrastructure major GMR, a prominent auto-dealer, former Prime Minister Mr. IK Gujral's son, Mr. Naresh Gujral and a politician have bought a house. GMR has bought a house over Rs 70 crore in the Golf Links from McDonald's India (north and east) Managing Director, Mr. Vikram Bakshi. In another deal, a prominent auto-dealer has bought a new house adjacent to the old one in Golf Links for around Rs 100 crore and Mr. Naresh Gujral has also bought a house in the same area. Another politician has bought a 575 sq yard house in Golf Links for around Rs 50 crore. "Limited availability of properties in the area and rising demand from rich-getting-richer clientele has resulted in such price appreciation," says Ms Shveta Jain, Associate Director (residential), Cushman & Wakefield. Lutyens' Delhi, which includes areas like Aurangzeb Road, Prithviraj Road, Mansingh Road, Shahjahan Road and the nearby posh localities of Chanakyapuri, Golf Links, Jor Bagh and Sunder Nagar have always been the most preferred locations for India’s rich and powerful.
19 June 2008 indianrealtynews.com

Modest Houses Attract Realty Player

Affordable housing is attracting large-scale investments from developers as well as private equity funds. While realty majors like Ansals and Omaxe are planning low-budget residential projects in smaller towns and cities across the country, private equity players are planning huge investments in this segment.

Delhi-based based Omaxe Ltd

has formed a company, National Affordable Housing Infrastructure Ltd, which will invest Rs 80,000 crore to develop 100,000 affordable homes across the country. The company is planning to offer these houses, to be developed in the next five years, for Rs 2.5-20 lakh per flat. Fire Capital Fund (FCF) is also investing over Rs 600 crore in seven affordable housing projects in

Indore, Bangalore, Chennai, Nagpur, Dehradun, Ahmedabad and Jaipur

. "From affordable housing projects, we expect a return of 20-25 per cent, which is the same as in upper-end investments," said Mr. Om Chaudhry, CEO, FCF.16 June 2008 Business Standard