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Century Real Estate Holdings Pvt. Ltd. one of the leading real estate companies in Bengaluru proudly launches there 16th project CENTURY ETHOS, an upscale design rich abode offering luxury appartments . The apartments are equipped with superlative contemporary amenities ranging from a premier clubhouse which provides for unique indulgences like a dedicated cigar room and a wine cellar for those who enjoy celebrating the finest moments of life. The salon and the spa add to the conveniences after a hectic work week. The diverse outdoor amenities provide for engaging yet relaxing weekends.
Century Ethos has collaborated with HOK, USA, a global design firm to craft a visually enriching canvas for those who appreciate homes that exude style. The property will be managed by Synergy Property Development Services, Bangalore. This spectacular venture comprises of 3BHK and 4BHK in four elegant towers of 21 storeys each with two large basements for car parking, the Podium which holds exclusive amenities like The Cobalt Club i.e. Club House, Amphitheatre, Tennis court, Squash court and many more to list. The development and construction at the project is in full swing and is scheduled to meet precise delivery targets. The prime location with excellent connectivity, top grade educational institution medical facilities in the vicinity makes Century Ethos the best investment option. Advantage in price appreciation and rental opportunities are also there.
Century Real Estate commenced its operation in 1973 and in the early years, was involved in acquiring land parcels for marquee projects in Bengaluru including Taj Residency, Manipal Centre, Manipal Hospital and Vijaya Bank Head Office among others. Today the company is on the fast track of growth led by Mr. Ravindra Pai the young and dynamic Managing Director. His initiatives in shaping a world class company have attracted blue chip companies such as Goldman Sachs, Fortress Investment Group and Kotak Realty Fund to partner with Century Real Estate, reinforcing Century Real Estate's stature as one of India's leading real estate companies.
For the young and dynamic business leader, Mr Ravindra Pai, Managing Director of Century Real Estates Holdings Pvt Ltd, Golf is more than just a sport. It is a passion. He believes that it is the perfect sport and can be played throughout an entire lifetime. Besides being a highly successful businessman, Mr. Pai is also a talented and enthusiastic Golfer, with a very keen interest in the sport.
He along with Mr. Ashwin Pai, Executive Director of the company, have had their fair share of triumphs on the "putting green" having participated in many Tournaments, with energetic and inspiring performances. Mr.Ravindra Pai, believes that anyone with true interest, can play golf, whether it is on a driving range or a round on the course. The only competition in golf, in his opinion, is against oneself and according to him it is the most rewarding experience a person could have.
Giving shape to his passion, and under his leadership, Century Real Estates is proud to sponsor the "Republic Day Cup" Golf Tournament held in Bangalore Golf Course (BGC) on 24th, 25th and 26th January 2016, as India celebrates 67 glorious years as a Republic. The Tournament, a prestigious event, will witness the participation of the highest number of seasoned golfers and many renowned players on the golfing green, as well as the distinguished attendance of government officials and many leading entrepreneurs.
In line with his belief that Golf is for everyone, Mr Pai on behalf of Century has invited the participation of many players who are non-members of BGC.
Speaking about Golf in India, Mr Ravindra Pai said "Golf is a growing sport in India, and is very popular among the wealthier classes. It is still not within the reach of every aspirant due to the expenditure involved.
I firmly believe that an increase in participation can be achieved by building more affordable and accessible facilities, increasing activity in junior and academy golf, and effectively promoting amateur golf to a wider audience.
Future course development seems inevitable and may need to come, hand-in-hand with real estate opportunity. India currently has 196 registered golf courses and 50% of the courses are situated on military bases. To meet the civilian demand, India may need to build up to 100 new courses to satisfy the demand over the next decade. Provided that the challenges that exist in India can be overcome, there is great potential in this growing interest in golf.
Century Artizan, is yet another landmark project, the most sought premier gated community from the renowned and richly reputed Century Real Estate and Holdings. Ideally located off Bellary Road, in North Bangalore, Century Artizan, a connoisseur' choice on artistic design, is all set to be the go to destination for discerning buyers who wish to construct a home in a world class plotted development. Harmoniously combining the functional with the aesthetic, there are water bodies that showcase artworks, gardens that entwine themselves around sculptures, Clubhouse, Amphi-theatre, Sculpture Garden, Art Fountains, Meditation Greens, Tranquility Park and Reflexology Path. For the sports lovers, the project caters to a majority of their needs with Tennis Courts, Cricket Nets, Basketball Court and Skating Rink, Fiber to home and lots more. There are many plotted developments in Bangalore which have come up in the recent years, but none come with promise of quality as Century Artizan.
Century Artizan comprises of secluded plots of 50 'x 80 and 40'x60, offering a splendid canvas on which to build a dream home in the midst of verdant tranquility. The open spaces and the leisure and the sports facilities make it a complete package for almost anyone. Everywhere you go , at Century Artizan you will find world class amenities and landscaping. It is appealing for the elderly and also for the newly married. The perfect location, off Bellary road has now become the most favored destination for the most luxurious and splendid projects in Bangalore.
Century Artizan is located close to several prestigious projects which are being developed such as Mallya Aditi School, Ryan International School, Vidyashilp Academy, Canadian International School, Delhi Public School, Columbia Asia Hospital, Baptist Hospital, Cauvery Medical Centre, BMSIT Engineering College, NITTE Meenakshi Institute of Technology, Gokuldas Textile and Apparel SEZ and IFCI Financial City. The location is very well connected to some of the promising and prestigious educational institutions.
Given the high property prices in most part of the country, many home buyers are considering smaller units that are available within their budget. According to the, India Realty Report, released on 24 May by PropTiger, an online real estate consultancy: "Affordable segment (less than Rs.50 lakh) continued to command over 50% in launches and 52% in sales in financial year (FY) 2016."
Developers are also reducing the average size of apartments to reduce per unit cost. The average apartment and villa unit sizes have fallen 3% and 18%, respectively, over FY14; to keep the overall units costs in an optimum range, the report stated.
"To increase velocity in a slow market, it makes sense for developers to come up with new offerings to attract fresh customers. One of the new offerings is smaller units. There is a large demand in the affordable segment and by bringing down the size of apartments, developers are able to attract and cater to them," said Mudassir Zaidi, national director, residential, Knight Frank (India) Pvt. Ltd.
Developers have been reducing the average size of apartments for the past few years, especially in metro cities. According to a report published by JLL India in August last year, "Average apartment size in Mumbai saw a decrease of 26.4% in the past five years." For the same time period, Bengaluru registered a 23.7% reduction in average apartment sizes, followed by Chennai at 22.2% and Pune at 7%, it stated.
The demand and supply of even 1-bedroom-hall-kitchen (BHK) units has increased. "Demand is better for small units like 1-BHK houses than for bigger units," said Rajesh Prajapati, managing director, Prajapati Constructions Ltd, a Mumbai-based developer.
According to the PropTiger report, 1-BHK units accounted for 22% of the total residential sales in FY16 (up from 21% in FY15). The demand for such units was mostly concentrated in cities like Bengaluru, Pune and Mumbai. "Being a hub of IT industry, Bengaluru has a lot of migrant population because of which there may be higher demand for such houses," said Mahesh Prabhu, executive director, Century Real Estate, a Bengaluru-based company.
But this may not be for all types of locations. "The developer tries to reduce the size of the house in locations where the per sq. ft prices are higher, to control the overall cost of units. In suburbs or locations where prices are low, we need not do so (reduce size)," said Prajapati.
The increased demand for affordable houses also has to do with the new incentives that were announced in this year's Budget for developers as well as home buyers. Service tax exemption was announced on affordable houses of up to 60 sq. meters constructed by central or state government, including public private partnership. Besides that, there is also 100% tax deduction for profits from housing projects that have apartments up to 30 sq. meters in four metro cities, and 60 sq. meters in other cities, and have been approved during the June 2016 to March 2019 period. Also, to get the tax benefit, the project has to be completed in three years. These factors can help developers reduce cost of construction.
For home buyers, additional tax benefit comes in the way of interest deduction of Rs.50,000 on a home loan. This will help many home buyers bring down the cost of purchase.
Moreover, with the real estate Act, the sector may see a positive response from home buyers over time. However, "in the present scenario, any sharp increase or decrease in prices is not expected," said Zaidi.
If you plan to buy a property, stick to one that is completed or is near completion as cash flow issues persists for developers.
Evaluation of immovable properties in Bengaluru for fixing the guidance value is set to become more scientific from this year onwards.
The department of stamps and registration will sign a memorandum of understanding with the Indian Institute of Management, Bangalore, to fix the guidance value for immovable properties, in particular apartment complexes, according to sources in the government. The MoU would be signed in a couple of days with the IIMB-Century Real Estate Research Initiative, which is into interdisciplinary research on the Indian real estate sector.
At present, the department fixes the guidance value zone-wise but eventually plans to fix the value for each property. In the initial phase, it would focus only on apartment complexes.
The value of an apartment complex would be assessed based on facilities like swimming pool, gym, clubhouse, walk path etc. Such assessment would naturally push up the guidance value for properties. Apartment complexes with more than 25 flats would be assessed under the new method.
There are nearly 12,000 apartments in the State. The IIMB’s research wing has developed a data bank on apartment complexes in Bengaluru. But the department doesn’t have such data. The formula to calculate the guidance value would become more scientific if facilities at a housing cluster are taken into consideration.
The new method—to be adopted from April or May onwards—would marginally increase the revenue earning for the department, the sources said. Officials insist there are complaints about the disparity between guidance value and the market rate of a property. As a result, the government is losing out on revenue in terms of registration fee and stamp duty.
About 75 per cent of the revenue through stamps and registration is generated in Bengaluru. The department has therefore decided to introduce the new valuation method in the City before extending it to the entire State.
The IIMB research wing would assist the department in giving information about apartment complexes. The department is, however, keen on covering each and every property with the help of GPS (Global Positioning System) and computerise the data.
While Bengaluru is seeing an unprecedented growth in construction of apartment complexes, the development hasn’t helped much in boosting stamp duty and registration fee in the current financial year. The government had aimed to collect Rs 7,450 crore as tax in the current fiscal year but the collection has been only Rs 6,196 crore so far. The receipts could go up by Rs 700-730 crore by the end of March, falling well short of the target.
But officials say the target was unrealistic in the first place. The government expected the real estate sector to grow by around 19 per cent, four per cent up from last year. But such growth cannot take place when the construction industry is facing acute shortage of sand and steep increase in the prices of cement and steel, they argue.
BANGALORE: South India's biggest landlord, Dayanand Pai, is looking to unlock close to Rs 1,000 crore by taking his newly created Century Real Estate Investments (CREI) for an initial public offer (IPO), people directly familiar with the matter said.
The new company - incorporated in the last 60-days - offers investors a Bangalore-focused real estate play. It has currently brought together eight land parcels under joint development with city's A-list developers. This, at a time when the country's IT capital has proven to be the best performing real estate market in the country with residential sales continuing to clock double-digit growth and investor appetite for office spaces on the rise.
The eight projects, amounting to about 28 million sq ft of constructed real estate space, will give CREI cash flow receivables upwards of Rs 7,000 crore (around $1.2 billion) for its share in the developments. CREI's list of joint development partners include Embassy Group, Shriram Properties, Mantri Developers, and Puravankara Projects, among others, documents accessed by TOI showed. The company, spearheaded by family scion Ravindra Pai, has a further pipeline of joint development projects, for which agreements are still to be executed, that would generate an additional Rs 5,000 crore.
Former IRDA chairman N Rangachary is the chairman of the new company, while Ranjan Pai of Manipal Education and Medical Group is among the board of directors. A CEO from a well-known fund house is in the process of being hired to run the operations. Ravindra Pai, who would be MD of the company, declined to comment.
Sources cited earlier said that Pai is expected to finalize investment bankers in the next 30 days, following which the listing process would be set in motion. However, one would have to see how market regulator Sebi reacts given its history of being prickly with the Indian real estate sector.
Aiming to shore up Rs 1,000 crore from a potential listing, CREI would use part of the proceeds to pare debt in the form of non-convertible debentures and channel the remaining money into buying more prime land parcels, said sources.
The Century Group holds over 3,000 acres in south India, largely concentrated around Bangalore, and also has a development arm that came into existence around eight years ago.
However, the creation of an entity such as CREI shows that the second generation of the Pai family is sticking to what the family has done best for close to 40 years - land aggregation and joint developments. Dayanand Pai has been associated with a number of iconic land parcels in Bangalore's central business district and has exited most of these projects with an IRR of 40%.
TriVeda Capital, a leading private equity and asset management firm focused on India, today announced the appointment of Raman Iyer as a Managing Director based in Bangalore. Mr. Iyer will oversee the firm’s pan-India real estate activities, including capital deployment, equity/debt financings, structured vehicles and third-party asset management. He was previously Director of Asset Management at ASK Property Investment Advisors, a subsidiary of the $1.6 billion ASK Group.
"Raman is a proven leader with broad capabilities in Indian real estate. We are thrilled to have him join TriVeda Capital and coordinate the firm’s efforts across real estate investing, financing and asset management" said Raj S. Inamdar, Co-Founder and Managing Director of TriVeda Capital.
"I’m excited to join TriVeda’s world-class team, and I look forward to supporting the firm’s upcoming real estate initiatives" confirmed Mr. Iyer.
As part of TriVeda Capital’s third-party asset management activities, Mr. Iyer will be responsible for overseeing Century Real Estate’s joint development (JD) project vehicle in Bangalore, which includes fifteen projects exceeding 500+ acres to be developed over the next decade. In addition to providing development oversight and monitoring, Mr. Iyer will lead debt financings and coordinate a public equity offering for Century Real Estate’s JD vehicle.
Mr. Iyer brings 17 years of real estate, asset management and project execution experience to TriVeda Capital. He was previously Director of Asset Management at ASK Property Investment Advisors and Head of Asset Management at Walton Street India Real Estate Advisors Pvt. Ltd., an affiliate of Walton Street Capital, a top-20 global PERE firm. He was also National Head for Real Estate Research & Advisory at ICICI Home Finance. Mr. Iyer launched his career and held senior positions at Shapoorji Pallonji. He received a Masters in Financial Management and a Bachelor of Civil Engineering from Mumbai University.
About TriVeda Capital
Launched in 2013, TriVeda Capital is a leading real estate investment and asset management firm focused on India. The firm currently manages a $500mm portfolio of mixed-use real estate development projects in India, with a focus on middle-class residential assets. TriVeda invests capital on behalf of global institutions, India-based and NRI/PIO investors into structured real estate transactions located in India’s Tier I cities. For further information about TriVeda, please visit http://www.trivedacapital.com.
Xander Finance, the Indian non-banking finance company (NBFC) arm of the global investment giant The Xander Group Inc, has invested Rs 49 crore ($8 million) in Century Real Estate, Bangalore. Xander Group’s investment is structured as senior secured non-convertible debentures.
According to P. Ravindra Pai, Managing Director, Century Real Estate Holdings Pvt Ltd, “Xander Group has good understanding of the real estate sector in Bangalore having already made several investments. We are hoping to benefit from their financial experience.”
Amar Merani, Chief Executive Officer, Xander Finance, said: “Century Real Estate has phenomenal real estate assets across Bangalore. We are confident of Century’s skills and expertise in the Bangalore market.” “This transaction is yet another step towards increasing our footprint across the country and is an indicator of Xander Finance’s reputation as a preferred provider of corporate credit,” he added.
Century Real Estate Holdings, among the top land bank holders in Bangalore, is understood to be closing in on a pact with Bharti Walmart to build its first cash and carry store in Bangalore. It is understood that store will be coming up on one of the land parcels held by Century on the new airport road, after the Hebbal flyover.
According to real estate industry sources, the pact is in the term sheet stage and a decision to go ahead may soon be arrived at. Both Bharti Walmart and Century Group declined to comment on the development. However, senior management officials of Century Real Estate confirmed that the pact is in the works.
"We have signed a term sheet with Bharti Walmart recently and we are engaged with them for finalising the contract," a senior official of Century Real Estate told Business Standard.
Bharti Walmart has been scouting for the real estate market in Bangalore for a while now. Bharti Walmart at present has over 20 stores in India under the brand - Best Price.
The cash and carry segment has been witnessing some heightened activity in Bangalore with Reliance Market recently opening its first store, while Germany-based Metro Cash & Carry has been operating its two stores for more than a few years.
Real estate industry analysts further added that while Bharti Walmart's store will be at the front-end of the project, Century is planning a expansive residential complex as part of this development. It is understood that Century Real Estate has reached out to HNIs to raise resources for the project, promising good returns.
If Century manages to clinch this project, it will help them improve its cash flows, which off late has taken a hit due to slackening sales. According to recent credit rating reports, Century has delayed payment of instalments and has been rescheduling payment terms with NCD investors. In August 2010, Century had raised resources which are due to mature during August 2013.
ICRA in its recent report had also raised the red flag on the real estate market in Bangalore stating that there has been a significant increase in residential projects under development in the last two years that could increase supply in the market.
Century Real Estate has a development portfolio of 21 million square feet comprising residential, commercial, hotels, educational institutions and integrated townships. In FY12 it reported a net profit of close to Rs 6 Crore on revenues of around Rs 115 Crore.
Pai moots night racing in city
Builder Says He Has The Men And Machinery To Complete The Job
Bangalore: At a time when the premier racing centres are successfully roping in big sponsors to provide glitz and glamour to the sport of Kings, Bangalore Turf Club (BTC) got a shot in the arm when P Dayananda Pai, chairman of Century Builders, came up with the idea of night racing here.
Inspired by night racing at the Meydan racecourse in Dubai, which is rated as one of the finest facilities in the world, Pai wants to model the Bangalore course on similar lines.
At the gala evening on Thursday to announce the event – P Dayanand Pai and P Satish Million – Pai said Century Group would be the first to propose a floodlit course. “BTC will be the first to stage races at night. Night racing draws big attendance and is successful all over the world.”
Pai said his firm had the men and machinery to take up the job. “If the present race course has to be renovated, it would take 18 months to hold the first race under lights. If the course has to be built from scratch elsewhere, 125 acres of land is needed for an international standard floodlit track. It can be completed in three years,” he said.
BTC chairman D Kumaraswamy, while appreciating Pai’s involvement in the game, said: “It serves BTC well to have in its wings owners and members who are ready to contribute to the development of the sport. Night racing is a brilliant idea and the moment the issue of shifting the course is sorted out, BTC will get cracking on all the expansion and renovation plans,” he said.
Pai said his group would also draw up plans in consultation with the Bangalore Turf Club managing committee to put Bangalore on par with RWITC. Pai said Century was looking to sponsor the next winter Derby and were exploring the possibilities to make the winter Million a most sought after affair. “The idea is to get the best horses on the circuit to compete at our centre. We can do it by offering good prize money and provide a carnival atmosphere,” he said.
Congratulating trainers Satish Narredu and Irfan Ghatala for making it a 1-2 finish for Bangalore in the Mc-Dowell Indian Derby at Mumbai recently, Pai said Bangalore owners were investing big money and the onus was on the Club to provide them the desired facilities.
“We should encourage professionals at our centre by providing them with top-class facilities. Good results in big events like the Indian Derby and Invitation Cup will help promote and market the sport,” said Pai, pointing out that sponsors and advertisers always looked to associate themselves only with the winners.
When pointed out that BTC was struggling to net big sponsors, Pai said: “Not really. Vijay Mallya has done a lot, Kingfisher summer Derby attracts the cream and with Century coming in, Bangalore racing will be on par with RWITC in the years to come.”
Bangalore: Bangalore-based Century Real Estate has signed an MoU with the Indian Institute of Management, Bangalore, (IIMB),...
for setting up IIMB-Century Real Estate Research Initiative, a first of its kind research programme in the country.
The Initiative will focus on conducting scientific, crossdisciplinary research and collecting data on the Indian realty sector that will be published in leading academic and practitioner journals. In addition, the research initiative will seek to provide guidance and policy prescriptions to government and industry stakeholders on major issues pertaining to the realty sector.
P Dayananda Pai, founder of Century Real Estate, said: “There is a tearing need for such an initiative in the real estate space that will focus on research, act as an interface between the industry and the policy makers and eventually churn out quality human resource for this sector.” TNN
A unique contest that demanded architecture students to come up with a ‘senior citizens centre' saw enthusiastic ideas from the young in the city.......
“This is the first time that a real estate company has organised such an event for students, with an overwhelming 100 teams registering from various colleges across the State. Century Real Estate intends to establish this as an annual contest,” says a company official.
Century Real Estate, in association with BMS College of Engineering, has announced the Century Golden Brick Awards 2011. Experts from architecture and construction fields attended the contest that was designed to encourage creativity and innovation among Karnataka's budding architects.
The winners, in addition to winning cash prizes, also bagged opportunities to work with international architecture firms on a live Century project.
Students sent in their designs for a “Senior Citizens Centre” in North Bangalore. The jury of eminent Bangalore architects — Sanjay Mohe, Itty Zachariah, Arunjot Bhalla and Prem Chandavarkar — shortlisted five submissions and asked them to display their projects and answer questions, even as they selected the work of Vinay T.S. from BMS as the Best Design. A “Promising Talent” award was given to Akash Raju and Aakarsh Shamanur from RVCE, Bangalore.
P. Dayananda Pai, Founder, Century Real Estate, said: “Century Awards are directed towards the talent pool of the future and helps encourage young talent in the building industry.”
The awards ceremony was flagged off with an interactive panel discussion on “Professional practice in India: Challenges and experiences”, with the panellists sharing their vast experiences.
BANGALORE: Bangalore-based Century Real Estate has raised 200 crore from Kotak Realty Fund, the property investment arm of Kotak Mahindra Bank, through a private placement of non-convertible debentures (NCD).....
The fund fully subscribed to the issue last week. Century managing director Ravindra Pai declined to comment on the matter.
The money will be invested in a special purpose vehicle (SPV) floated by Century to develop a 10-acre residential project coming up on Old Airport Road in Bangalore. The project comprises of 650 high-end apartments costing upwards of Rs 1.5 crore each.
Last year too Century had raised money - Rs 100 crore -- from Kotak through NCDs. Kotak, in turn, sold 80% of the book to high networth individuals (HNIs). The company is using the funds to develop 7 new projects with a built-up area of 1.7 million sft.
TOI had previously written that the company is in discussions with Baring Private Equity Partners India (BPEP) and Morgan Stanley to raise $150 million . This too could be concluded soon.
Dayanand Pai-promoted Century Real Estate has a land bank in excess of 3,000 acres around Bangalore valued at over $2 billion.
Century Real Estate, in association with the BMS College of Engineering, announced the results of the Century Golden Brick Awards 2011, at an awards ceremony attended by experts from the architecture and construction fields.....
The contest was designed to encourage creativity and innovation among Karnataka’s budding architects. The winners, in addition to winning cash prizes worth Rs 70,000, got the opportunity to work with international architecture firms on a live Century project. As many as 100 teams from various colleges across the State, registered themselves in the competition.
Students sent in their designs for a ‘Senior Citizen Centre’ in North Bangalore according to the brief given. The jury consisted of eminent Bangalore architects Sanjay Mohe, Itty Zachariah, Arunjot Bhalla and Prem Chandavarkar. They shortlisted five submissions and these teams were given a chance to display their projects and answer questions from the judges. After walking through the final project exhibits, the judges deliberated and selected the work of Vinay T S from BMS College of Engineering, Bangalore as the ‘Best Design.’
Vinay walked away the proud winner of Rs 50,000 and beautiful Golden Brick trophies. A ‘Promising Talent’ award of Rs 20,000 was given to Akash Raju and Aakarsh Shamanur from RVCE, Bangalore.
P Dayananda Pai, Founder, Century Real Estate, said, “Century has always believed in thinking ahead, and we are thrilled to see such a good start to the Century Golden Brick Awards.
This was designed keeping in mind our students, who are the talent pool of the future. We are very excited at this chance to reach out to our student community, and to encourage young talent in the building industry.”
The Century Golden Brick awards ceremony was held at the BMS auditorium, and the event was kicked off with a panel discussion on ‘Professional Practice in India: Challenges and Experiences,’ with panelists Sanjay Mohe, Prem Chandavarkar, Arunjot Bhalla and Itty Zachariah sharing their vast bodies of experiences with the students and audience present.
A question and answer session ensued, with students getting a chance to join in the discussion. This was followed by the Century Golden Brick Award Ceremony, where the winners of the contest were announced.
Century Real Estate, a leading Bangalore based developers with 3,000 acres of land bank will invest Rs 957 Crore to build a 5-star hotel in association with four seasons,.....
A Software park and a more commercial space in Bangalore. The company signed an memorandum of understanding with the Karnataka government for the new project during the Global Investors Meet (GIM) held last week.
According to the company, its subsidiary, Cityview Bangalore Properties Pvt Ltd, will invest Rs 917 Crore in the hotel, serviced residences and commercial spaces in the central part of Bangalore. Another subsidiary, Fortune Pai software Pvt Ltd, would develop a software park in Electronics City at an investment of Rs 40 Crore.
There has been a big buzz about four seasons, the Canadian luxury hotel chain, entering the Bangalore market for some time several real estate players from Bangalore and other cities were in the race to get this prized brand to the city.
The projects, which would create employment for 800 people, are expected to be completed by 2013, the company announced.