Even as the upward bias on home loan interest rates and the rising residential prices threaten to spoil play in the property market, real-estate developers are rolling up their sleeves for what they hope will be cracker of a Diwali.

Builders, particularly mid- and smaller-tier realtors, are optimistic that new launches, the revival of buying decisions put on hold during the ongoing fortnight-long Shradh period, generally considered inauspicious for major purchases, and the general upbeat mood in the ensuing festive season will light up sales counters in the coming weeks.

With its eye on the festive season, ATS Group is planning to launch two new projects a 300-acre township in Chandigarh and a 55-acre residential project in Dehradun in November....

Shriram Properties, the real estate arm of Shriram Group, plans to raise $100 million Rs 452 crore this year from private equity PE investors as it seeks to deepen its penetration in Southern India, senior company officials told Business Standard. The company, which was planning an initial public offering IPO in 2010, has deferred its plans for a share sale for at least the next 12 months, said Chairman Arun Duggal.

The developer is raising this money as part of its plans to invest around Rs 3,000 crore in various residential and commercial projects over the next three years. Shriram Properties currently has 9 million square feet under construction and presence in Bangalore, Chennai, Visakhapatnam, Kolkata and Coimbatore.

We will deploy the money in new projects, said Managing Director M Murali. We want to expand our presence in Southern India. The company is currently working on two integrated townships in Kolkata and Vizag and has completed an IT Special Economic Zone SEZ in Chennai named Shriram Gateway.

The company already has PE investments by Starwood Capital, Sun Apollo and Walton Capital. According to sources, the company is in talks with US-based Texas Pacific Group TPG. TPG recently inked a deal with Shriram Capital, the financial services holding company of the Shriram group, to pick up a 20 per cent stake worth Rs 1,000 crore. If TPG invests in Shriram Properties, it would be one of the few foreign funds putting money into the Indian real estate sector....

The world leader in real estate brokerage RE MAX today announced the opening of its 100th office in India. RE MAX has been able to achieve this landmark in a record time of less than year of operations. With the huge footprint the organization is all geared up to meet the real estate needs of the huge and growing retail segment.

With organized entrepreneurship moving from Metros to Tier 2 & Tier 3 cities, the company rapidly growing network of offices has emerged as a preferred real estate solution providing network among various domestic brands and their franchisees. RE MAX India has witnessed phenomenal growth across the length and breadth of the country and is growing every passing day.

On this occasion Mr Sam Chopra, Director, RE MAX India said - As a real estate franchising company our biggest strength is the Network Value proposition which facilitates more choice for the customer and reduces the turnaround time - as a result, we are able to position ourselves as a preferred marketing partner for many National & International Developers.

In turn, any Franchise Partner who joins us enjoys unmatched inventory, nationwide network, world class training, most advanced real estate technology & the power of a global brand....

With property prices soaring to dizzying heights in the country financial capital, aspiring home-buyers have to be much more than a crorepati to buy a flat in Mumbai, where the average cost of a roof over one head is now at an all-time high of Rs 1.91 crore.

According to figures put together by the real estate research agency Liases Foras, the weighted average cost of a flat in Mumbai at 1.91 crore has leapt by 49 percent over the last one year. The weighted average cost is the total capital value of all flats divided by the total inventory in each city.

In comparison, five other cities like Bangalore, Hyderabad, Chennai, Pune and the National Capital Region NCR have witnessed either a drop in rates or a negligible increase. An average flat in these places is relatively affordable at Rs 35 to Rs 50 lakh.

Pankaj Kapoor, CEO of Liases Foras said that most cities have maintained an equilibrium in pricing, Of all the cities, Mumbai is the only one where the prices have escalated so much that no segment can afford it. Most developers here are not bothered about end user sale. If the sale of flats in Mumbai for April to June last year is compared to the same period this year, there is a 50 percent decline this time around, said Kapoor....

The World Trade Center to be operational in Bangalore by the first quarter of 2011 makes big news. And the fact that the Brigade Group is associated with this colossal venture makes bigger news for this developer based in Bangalore. This project would not only see us gain more strength in our real estate endeavours, but would be a pleasure to see it open up for international trade.

For our residential units located at this mixed-use enclave at Brigade Gateway, it is a tall address worth associating with, said M.R. Jaishankar, Chairman & MD, Brigade Group.

It was in the mid-1980s when real estate was just about into its early sprouts that Mr. Jaishankar steered his company with ventures that offered a newer outlook and higher standards in living....