JP Morgan Chase has invested Rs 250 crore in BPTP Ltd, a Delhi-based real estate company which came into spotlight earlier this year when it clinched 95-acre of prime commercial land at Noida for Rs 5,006 crore.
Last year, Citigroup realty arm, Citigroup Property Investors, had picked up 5.8 per cent stake for Rs 322.5 crore in the company. Merrill Lynchs real estate arm had also pumped in Rs 112.5 crore in a joint venture project of the company.
While company sources confirmed the latest round of investment, JP Morgan Chase could not be reached for comments.
More : moneycontrol.com
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BPTP Ltd, which clinched Indias biggest land deal for $1.2 billion in March, is looking for investors for a city it plans to build near New Delhi.
Some Indian developers have scoffed at what they believe was an exorbitant price for the 95-acre plot in Noida, a suburb of the Indian capital. And media reports have suggested the deal was in jeopardy because of a lack of funds.
But BPTP, which counts Citigroup as an investor, is pushing ahead with what it hopes will be the first top-notch business district in India by paying the first 25-percent instalment for the land this
India's move to ease rules on foreign investment in its thriving property sector has set off a flurry of activity, with mainly U.S. investors jostling to be first through the door.
Some analysts expect an inflow of up to half a billion dollars within a year of India's decision in February to cut the minimum size for foreign-financed projects and permit overseas firms to set up funds to invest in property.
Asia's fourth largest economy, fuelled by the outsourcing of work by cost-cutting Western firms, is expected to grow by about 7 percent this year, spurring demand for offices, homes
Dentsu Communications, Delhi, has appointed Sunil Kukreti as General Manager and Branch Head. Until now, Kukreti was heading Mudra Groups agency, Interact Vision, where he was also the General Manager.
Commenting on his new appointment, Kukreti said, I am happy to have been charged with the responsibility of leading Dentsu Communications in Delhi. The office already handles major businesses like Yamaha motorcycles, Radico Khaitan, I-mate, and BPTP.
Now, if you want to buy a house but do not have the money right now, dont worry! Falling property sales in regions like Delhi and NCR have pushed many developers to offer EMI holiday schemes to boost their sales.
If you have been wanting to buy a house in Delhi or National Capital Region, but do not have the money to back your aspirations, then be dismayed no more. Now, you can walk up to your builder without a penny in your pocket, book a flat, and not pay any equated monthly installment on the home loan till
ormar cj family hold three companies in 2004 named 1-pawan impex 2- sab export 3- sang export. & run the business of export -import. the business was run by two son of formar cj chetan & nitin
the corporate registered address of the companies were house no 3/18 punjabi bagh the private residence of formar cj til dec 2003. the corporate office were shifted at 6 motilal nehru marg new delhi after jan 2004. it is a co incidence or consiperacy that formar cj issue order of sealing on may72004. because panjabi bagh is a residencial area so the order
