Private Equity Firms Build up on Indian Realty Firms

The valuations are certainly down as the market is in the midst of a slowdown.
With access to capital market out of question and bank debt getting tighter, we see more and more developers tapping PE sources to bridge the fund gap for projects.
Although in the short-term PE players may take a cautious stance, over a 12 - month horizon, the number of PE deals is likely to go up.
Red Fort Capital has concluded seven transactions in the first six months of 2008 compared to six deals during entire 2007.
Pumping in Earlier in June, Lehman Brothers Real Estate Partners had announced an investment of Rs 740 crore ($185 million) for 50 per cent stake in the initial phase of a Unitech project, located on the Western Expressway of Mumbai.
During the same month, Axis Bank too invested Rs 250 crore in Lavasa Corporation, a subsidiary of Hindustan Construction Company, in the form of convertible preference shares and convertible debentures.
An industry official pointed out that while investors were still interested in the real estate market, they had adopted a selective approach towards projects, I dont know if flats or gardens or whatever...
With more projects on the negation table now, and given the current market sentiments, PE players will pick and choose. Only those projects which have the required approvals in place would hold their interest.
Cheers my friends... Comment please!!!

Kitchen short-cuts

Before you splash out on a new kitchen, consider buying a quality second-hand or ex-display one from an online trading site.
Kitchen designer Liam Murphy was endlessly amazed at the quality of the old kitchens people were planning to demolish and replace, so he set up www.secondhandkitchens.com.au to help people buy and sell old kitchens.
"You're often doing the seller a favour, as it can cost them $500 to have someone remove their kitchen from their flats and take it to the tip," Murphy says. "But you can buy second-hand kitchens for less than $5000 and new kitchens off the showroom floor for between $5000 and $15,000. A new kitchen will cost around $30,000, with $10,000 to $15,000 on top of that for appliances."

The logistics of buying and installing a second-hand kitchen can be difficult and Murphy advises it's only worth considering if you can either install it yourself or have someone who can help.
"You'll never be able to employ someone to do it for you, as people are too nervous about getting it right," he says.

Coast places? Yes, please

While the national property market has been rattled by the Reserve Bank's campaign of interest rates rises, but experts insist well-located properties with water views remain as safe as an investment in blue-chip shares.
The trick, as with most property investments, is to identify the right location, The Australian reports.
Coolangatta, where the median houses or flats price rose 31.1per cent last year. Mr Rivera said the town, left behind in the development of the rest of the Gold Coast, could grow further in the coming year. The southern part of the Gold Coast had become a focus for development to keep up with demand and growth for coastal properties.
The Pacific Motorway from Brisbane had made Coolangatta more accessible.
Over the past five years the median unit price in Broome had risen by an average of 26.1per cent a year. The northern West Australian port had benefited from burgeoning tourism.
Take care guys

The remaking of Oxford Street

It's one of Sydney's liveliest locations: close to the city, Hyde Park, many of the best eateries and it has a predominantly young and creative population. So why is Oxford Street such a grim and dreary place?
Today, for instance, it looks like a back street in a ghost town, with only the odd passer-by for the beggars to grab, a scattering of empty shopfronts and a busker strumming an out-of-tune guitar in front of a greasy takeaway joint.
"Its heyday was probably in the 1920s, between the wars," says City of Sydney historian Shirley Fitzgerald. "Back then, when few people had cars, people wanted to live close to the city and Oxford Street was very, very busy, with good shops, a couple of department stores, cheap eating places and smart restaurants."
And now? "Tawdry, I think is the word that describes it," says Marcus Bourget, the man in charge of the one event of the year when Oxford Street looks good: the Mardi Gras parade.
"It's a shame. Oxford Street is such a special place for the gay and lesbian community and has such huge potential but today it does require sustained investment for some urban regeneration flats and to make sure it reaches that potential."
Despite its position, it has been allowed to languish, with apartments clustered around the strip no longer highly prized or even sought after. However, with plans by the City of Sydney Council for a major overhaul, hopes are high that Oxford Street might grab back its long-lost glory and glamour and, once again, become a lifestyle, cafe, apartment and investment mecca.

Zoom Developers gets Contract to Build Budget Hotels

Real estate firm Zoom Developers on Monday said it has bagged contract from the Indian Railways to build four budget hotels and flats.
In a press statement, Zoom said the company has won the bid for IRCTC Ratna Budget Hotels at four places.
The Indian Railway Catering and Tourism Corporation, a sister organisation of Indian Railway has today opened tender for budget hotels at four sites.
The places are Chennai, Pondicherry, Manglore and Coimbatore. However, IRCTC sources said PTI that nothing has been decided yet.
“The tender committee is yet to submit its report and decision could be taken only after submission of the report,” the sources added.