Tata Housing website sells 30 luxury units; rakes in Rs 80 crore

Tata Housing today said it sold more than 30 units in premium and luxury segment in 2014-15 for Rs 75-80 crore through its ecommerce portal. 

The company also sells affordable houses through its portal tatahousing.in. 

Tata Housing has become the first real estate developer to sell a villa worth Rs 5.5 crore through ecommerce portal, it said in a statement.

"In 2014-15 the company sold more than 30 units with a price tag of over Rs 1 crore for Rs 75-80 crore through its ecommerce portal," a Tata Housing spokesperson said. 

Tata Housing MD & CEO Brotin Banerjee said: "With increasing penetration of the internet we are confident that the online medium will be the fastest growing channel of sales for the industry." 

Banerjee added that the company will continue to invest in innovation to improve the online home buying experience in terms of interface, security and quality of transaction. 

The company recently integrated a payment gateway which will allow customers to complete the entire transaction online. 

Tata Housing has presence in Mumbai, Lonavala, Talegaon, Pune, Ahmedabad, Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar and is also now in the process of expanding its footprints to other parts of the country. 

Tata group housing firm has also ventured into foreign markets, like Maldives and is also exploring other markets including Sri Lanka and other South Asian countries.

Source: IndiaTimes 

Raheja Developers – Providing convenience through technology

Internet has made our world so much easier.  It has brought us to a stage where we intend to reduce manual labor and automate things. Our convenience and comfort has taken the front seat. Even the companies are soon understanding this and are trying to provide their customers with a new level of comfort. Raheja Developers Ltd. Innovations in technology has made us come across various channels that allow us to reach out to a whole new dimensions

Internet has been the biggest liberator for most of us. With its multi varied and dispersive benefits, it has penetrated into almost every sphere of our lives. It has constricted our giant orb, Earth over a virtual belvedere. Advent of internet has made convenience an affordable luxury. We aim to automate everything so as to reduce manual labor and increase the throughput.

Internet has had a stellar impact on the way business is conducted in the contemporary world. It has transformed the conventional methods of trading and replaced them with methodologies that are convenient to the customers as well as traders. With the surge in e-commerce portals and their huge success, more and more business operations are being transformed to suit to such platforms.  The business world has adapted itself to the changing trends .This potential of internet and e-commerce has touched upon the realty sector as well with giants like Raheja Developers employing the services of a leading e-commerce portal to facilitate their business. Raheja Developers Ltd. has recently entered an advertising agreement with Snapdeal where the traffic is diverted from online shopping site to the real estate developer’s site.

This step has led to a significant surge in the traffic at the developer’s site, registering above 5,000 visits per day.  Our esteemed Chairman and Managing Director, Mr. Navin Raheja has always been emphasizing on the elevating the customer’s experience and keeping in line with this view, we are looking forward to provide the customers with a convenience of making online payments for their purchases with us. This would have a multitude of benefits including an increased convenience of paying through credit/debit card and net banking combined with a secure transfer through a trusted gateway. We will also allow the customers to make these online payments in installments. This would provide them with a further relief.

Indiabulls Asset Management enters AIF space, real estate fund targets Rs 1000 crore

India Bulls Real Estate

Indiabulls Asset Management Company Limited (IBAMC) today said it planned to enter the alternative investment space through its maiden offering ‘Indiabulls Real Estate Fund’. 

This fund has been rated ‘AAA (AIF)’ by Care Ratingsand is targeting investments in residential projects in the top five cities, a press release from the company said.

"The fund intends to invest in geographies with proven market depth, high inherent demand, pricing stability and projects with low execution risk. The proposed target fund size is Rs 500 crore with an additionaloption of raising Rs 500 crore and focusing an averagedeal tenure of three years," it said.

The release said the investment focus would be to capture growth opportunities across lifecycle of investee companies through primary, secondary and co-investment opportunities. The investments shall be structured in the form of fully secured non-convertible debentures with a well-defined exit strategy and periodic returns on a quarterly basis along with a back-ended upside. 

The sponsor of the fund, Indiabulls Housing Finance Ltd, an AAA-rated company, has expertise inmortgage financing business with strong lineage in managing developer project lifecycles.

Mr. Akshay Gupta, IBAMC Group Executive head and CEO, said, "Indiabulls AMC will emerge as one of the key players in the real estate fund space in the coming years. We plan to scale up our AIF / Co-investment presence and have plans to raise over Rs 10,000 crore under real-estate fund category in next five years from offshore and onshore markets.”  

IBAMC has recently appointed Mr. Ambar Maheshwari as Chief Executive Officer (CEO) of its alternate investment funds business. Earlier, Mr. Maheshwari was Managing Director of Corporate Finance at realty consultant Jones Lang LaSalle.

 “The recent announcement of interest rate cut is expected to boost housing demand and will help in reviving the real estate market sentiments. The various initiatives taken by the government such as relaxation of Foreign direct investment (FDI) norms in the construction sector, Ordinance on the Land Acquisition Act and the legislation awaiting Parliamentary approval on the Real Estate (Development and Regulation), Bill has the potential to spur new project developments in the real estate space," Mr Maheshwari said.

AIFs are generally funds established or incorporated in India for pooling in capital from Indian and foreign investors for investing in accordance with a well-defined policy. The Securities and Exchange Board of India (SEBI) had notified the AIF regulations in May 2012, and since then had granted registrations to over 100 such funds. SEBI issued AIF Regulations to bring more transparency in private equity business and regulations cover Venture Funds, Private Equity and Hedge Funds under various categories.

Source : NNN