Hines, a US-based real estate development and management firm, is planning to venture into the Indian residential segment by 2014.

Hines is scouting for JV partners to start its first residential development. This venture will come about five years after Hines entered India with a JV development commercial project with real estate major DLF in Gurgaon, followed by another project with Shyam Telecom. For residential projects, the company is looking at Delhi-NCR region and Mumbai markets. The company will be looking for a minimum area of 20 acre for the residential project.

Meanwhile, the company, through its Indian arm Hines India Real Estate, is also looking to rope in an international brand to set up a 4-star hotel at its 21 acre mixed-use development project in Gurgaon with Shyam-SkyView Corporate Park. The hotel, with a capacity of about 300 rooms, will primarily be used by people working in the office in that complex.

In 2007, the company had set up a fund of about Rs 1,650 crore in India to invest in real estate projects and till now, has spent about Rs 1,000 crore. 

Currently, in partnership with DLF, Hines is developing a 3.5 acre site on Golf Course Road in Gurgaon.