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New Players in Indian Real Estate
Monday, October 08, 2007

Real estate India has a host of new players – notable debutants include the Adani Enterprises and the royal Ghorpade family. Diversifying from metals and agricultural commodities, Adani is venturing into real estate and infrastructure development.

Plans for an IPO are under way to finance its power and real estate business, and the company has reportedly committed an investment of USD 2.5 billion towards the project. Preliminary reports quote an area of 28 million sq. ft that Adani would initially develop in its real estate venture.

The Royal Ghorpade family of Maharashtra has made its mark in the Indian real estate business with an IT Park in Pune, and an upcoming agro SEZ in Satara.

With a land bank of 18,000 acres, Mudhol Land Holdings, the company through which it operates will develop more malls and IT parks in western Maharashtra and north Karnataka.

Mudhol made into debut into Pune real estate with the Cybernex, an 8,000 sq. ft IT complex on Shankarsheth Road and registered with the Software Technology Parks of India (STPI).

Reliance and Axis Bank have established their back-offices here, and more IT players have shown an interest. A mall on Viman Nagar, Pune is next on the agenda, along with projects in Kolhapur and Mudhol.

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