Lanco Hills - Construction is going on at full speed.

Lanco Hills - Construction is going on at full speed. I don't know if it tracks to their original schedule but I did see a lot of activity on site. Some of the towers are up, and its a beautiful sight. This project is going to be the crown jewel of Hyderabad real estate. I heard the price is reduced to Rs.4500/sft, but its probably still high for the current market. But again, if the things go according to the plan there will be a certain value attached to a Lanco Hills address.

Mumbai Residential Real Estate absorption

Mumbai Residential Real Estate absorption was around 5,000 units a month in March-May 2009, which is broadly in-line with levels in early 2008 and up significantly from around 2,000 units/month in September 2008-February 2009. The number of months of unsold inventory has fallen to 11, which is in-line with early 2008 levels and may be a sign that the market is bottoming out.

Noida and Greater Noida: There was a significant recovery, particularly in May, with absorption of over 4,500 units.

In Bangalore, monthly residential real estate absorption remains well below average 2008 levels and the number of months of unsold supply stands at 33 in May, compared with 11 through most of 2008 indicating excessive oversupply.

The Hyderabad real estate market probably looks the most unfavorable out of the cities we have covered so far with about 800 units/month sold in January-May 2009 compared with about 1,800 units/month in 2008. There is 44 months worth of unsold inventory based on average absorption in March-May 2009.

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Andhra Pradesh Government to call for fresh bids Hyderabad Metro

Business Line reported that after scrapping the INR 12,132 crore project contract awarded to the Maytas Infra led consortium, the Andhra Pradesh Government recently decided to call for fresh global bids for the Hyderabad Metro Rail Project. While the project cost would remain the same, the government has decided to increase the caution money from 0.5% of the contract to 1%, which works out to INR 120 crore. Mr Anam Ramnarayan Reddy State minister for Urban Development said "The State Government is keen to put the project on fast track and expects to make up for the lost time due to cancellation of contract awarded to Maytas Infra."

Speaking to reporters after a review of the project with Dr YS Rajasekhara Reddy CM of AP, Mr Reddy said while the project cost would remain the same, the Government expects to take this up now basing on viability gap funding mode. This is in contrast to earlier approach of awarding the contract to Maytas Infra, which had based the project on commercial exploitation of real estate. In fact, it had promised to pay back about INR 30,000 crore during the contract period and drew flak from experts.