The Builders Association of India – Southern Centre plans to organise a three-day residential property exhibition – House Hunt – Expo 2011 from December 2.

According to an announcement for participation, the event is to be supported by leading financial institutions. A seminar on urbanisation issues and expansion of Chennai city is also planned to coincide with the event. The event, planned at the Chennai Trade Centre, will have space for more than 170 participants, to showcase their products and services.

Sun City township near Chennai

Amarprakash, a Chennai-based developer, is launching ‘Sun City' — a 37-acre integrated township at Kadambattur, in Thiruvallur District to the North of Chennai. The Sun City comprises a wide range of residential properties, including luxury independent houses, row houses, semi-independent houses and residential plots, and high-rise buildings. The Department of Town and Country Planning-approved township is coming up with amenities and infrastructure and a school offering the CBSE curriculum — Jain public school. According to a press release from the company, in the first phase, 200 houses and 98 plots are available. The houses are of 500 to 1,500 square feet, with prices starting from Rs 1,799 a square foot, and plots of 1,000 square feet and above, priced from approximately Rs 399 a square foot.

A benchmark in Kolkata office space

The recent sale of a 1-million-square-foot property asset at Rajarhat, Kolkata, by AIG Global Real Estate to Ambuja Realty, will help drive up office space value in the city, according to Jones Lang LaSalle, international property consultant, which also facilitated the deal.

AIG Global Real Estate has performed a textbook real estate asset exit by a private equity fund. More than 2.21 lakh square feet of the property held by AIG Global Real Estate had been leased out to corporate occupiers. The expanded business park is expected to be completed by the third quarter of 2012.

AIG Global Real Estate's sale of the property to Ambuja Realty is raising questions on how real estate prices in the Sector 5 area of Rajarhat will be affected. Mr Mayank Saksena, Managing Director - Kolkata, Jones Lang LaSalle India said in the release, “On completion, the project will drive commercial property rates rise in Rajarhat, and be a benchmark in quality. Mr Bamasish Paul, Managing Director – AIG Global Real Estate, India, says in a press release, “This is a landmark deal in Kolkata, and one of the largest, which also represents a successful exit for the AIG Global Real Estate Fund in India, in the area of commercial real estate assets. Given the proximity of Ambuja Realty's project to the site, it was a natural fit for both parties.”

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