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The inter-ministerial Board of Approval (BoA) on SEZs, headed by Commerce Secretary Rahul Khullar, will also consider framing a policy for setting up units for recycling of plastics in SEZs, an official said.

As of now, there is no specific provision in the SEZ Act for such units.

The new SEZ proposals include Infosys Technologies IT SEZ in Bangalore, Lepakshi Knowledge Hub's proposed aerospace SEZ in Andhra Pradesh and the Gopalan E-Park IT SEZ at Mysore, Karnataka.

The board will also take up the requests of 24 developers, including Wipro, Mahindra and Mahindra, Ansal SEZ Projects and Wockhardt Infrastructure Development, who have asked for more time to execute their projects.

The BoA will also take up the request of real estate major Raheja Universal for de-notification of its IT SEZ in Maharashtra. Base Realty has also asked for permission to surrender its IT/ITeS SEZ in Maharashtra.

Source: Realty Plus Govt to take up 8 new SEZ proposals on Sept 16

On Tuesday, BBMP commissioner, Siddaiah, reiterated his predecessor Bharat Lal Meena's decision to stop the infrastructure works for the time being.

The BBMP had issued a circular in May this year, halting all new project works. After BBMP corporators staunchly opposed that move, the circular was later withdrawn.

"The BBMP is cash-strapped, it has pending bills worth Rs 1,743 crore. That apart, the BBMP has to take care of debt servicing and administrative servicing," the commissioner said, adding that the BBMP owes Rs 2,533 crore to various financial institutions.

BBMP's chief engineers have been instructed to refrain from implementing fresh projects.

Chief engineers of the eight zones would examine the nature of emergency work required, said Siddaiah.

The scheme involves 50 per cent of the project cost as grant from the Centre. The company has also written to the Punjab government for its equity participation to the extent of 15 per cent, which is under consideration. Officials in Punjab Agro Industries Corporation (PAIC), said IFFPIL had been awarded the project after Mumbai-based Unity Infraprojects Ltd consortium failed to make any headway.

Besides, general infrastructure, the proposed park would have capacity to accommodate atleast 35 agro-processing units. Speaking to Business Standard, IFFPIL, Managing Director, Sukhinder Singh said, "The Food Park Scheme will be implemented by a SPV, namely International Mega Food Park Ltd in which the stakeholders will be investors in the park, farmers, FII's, FI's, service providers, etc. Further, we have written to the state governments for its equity participation in the SPVs. The park would be spread over 60-70 acres and the total project cost would be Rs 140-150 crore. We will promote agro processing units in the par."The company has already acquired the land for the project.

The proposed park ia likely to benefit thousand of farmers in the area which is one of the backward area of the state and the cropping pattern is restricted to wheat and paddy. " We plan to change the cropping pattern in next 4-5 years, " added Singh.

Source: Business-standard Chandigarh-based IFFPIL plans to develop mega food park in Punjab

While stating this here today, the Financial Commissioner and Principal Secretary, Home, Mr.Krishan Mohan said that the corporation was also planning to construct traffic police station at Chandimandir, police station Baldev Nagar at Ambala and city police station at Rohtak, state vigilance office building at Gurgaon, teaching block at Newal, women hostel at Madhuban and barracks at Bhondsi, besides carrying out special repair of jails at a cost of Rs.five crore.

Giving details of the on-going projects of the corporation, he said that the Sunaria police training centre is being constructed at an approximate cost of Rs.100 crore, which will have 724 houses, administrative block, 16 barracks, multipurpose hall, gazette officer mess and armory. Multi storeyed houses in NCR i.e. Gurgaon, Faridabad and Sonipat were also being constructed at a cost of Rs.75 crore.

As many as 1840 houses including eight storyed houses in NCR ad 18 police stations, school buildings at Panipat, Bhondsi and Rewari, multipurpose hall, NGOs hostel, FSL block and women barracks at Madhuban complex, officers mess and administrative cum training block at Bhondsi and new police lines at Kaithal were also in progress, he added.

Unfolding the achievements made by the corporation during the last five years, Mr.Krishan Mohan said that approximately 3217 houses for police personnel, 40 police stations and 9 police posts, jail complexes at Yamunanagar and Ballabgarh, telecommunication training centre in police line Panchkula, auditorium, women hostel, museum, training block, open air gallery, conference hall, multimedia laboratory at Madhuban complex, extension of DAV School, Ambala, primary health centre at Bhondsi, administrative block, barracks, armory and MT garage in police line, Rewari and Excise and Taxation head office building, Khadi Board and Pet Hospital building at Panchkula had already been completed by the corporation during the last five years.

Addressing a gathering got up to announce the award of 7-Star rating to Abode Valley and 6-Star rating to Central Park -- couple of projects promoted by Lancor Holdings -- Lodd Rajendra, head of business development, Crisil Ratings, said Crisil was now working on two more mandates from the realty sector. He said Crisil had thus far rated 21 real estate projects.

Detailing the salient features of the two Crisil rated projects, Mallika Ravi, CEO, Lancor Holdings, said that Lancor was "committed to quality and transparency in our dealings with our stake holdings." Of the six Crisil-rated real estate projects in Chennai, two are promoted by Lancor. The remaining are by Akshaya Group.

According to Rajendra, the rating will address two critical needs in the realty sector -- improved transparency and objective bench-marking of projects.

Crisil Real Estate Star Rating (CREST), a product launched early this month, is intended to help flat buyers benchmark and identify quality projects within a city. Such ratings, it is claimed, will provide a comprehensive evaluation of all project-specific risks, which could impact the quality of the project.

Bank loans for second homes can now be a maximum of 70 per cent of the value of the property, down from 80 per cent previously, the national development ministry said. The government will also impose a tax on houses sold within three years of purchase, up from one year.

"The property market is currently very buoyant," the ministry said in a statement. "The government has decided to introduce additional measures now to temper sentiments and encourage greater financial prudence among property purchasers."

Prices of private residential housing rose to a record high in the second quarter, fueled by a surging economy that expanded 18 per cent in the first half as manufacturing rebounded from last year's global recession.

Chaired by Chief Minister Sheila Dikshit, a cabinet meeting decided to defer a decision on the circle rates on the sale and purchase of properties, noting that people can send back their opinion on the matter within six weeks, following which a final decision will be taken.

According to a source, a three-member committee, set up to look into complaints that circle rates of some colonies were too high and of others too low, gave its report deciding to hike the rates of some of the colonies. The committee also noted discrepancies in the already decided rates.

As per the recommendation, Bhera Enclave, a northwest area in which Delhi's Public Works Department Minister Raj Kumar Chauhan lives, has seen an increase of circle rates from Rs.43,000 per sq. metre fixed last time to Rs.86,000 now. The circle rates in areas near Bhera Enclave are already fixed at Rs.86,000.

The proposal regarding circle rates in the capital were accepted by the Delhi cabinet June 14. The circle rates will vary from Rs.9,000 to Rs.1.25 lakh per sq metre.

Source: sify.com Circle Rates Of Some Delhi Colonies To Rise Further

JP Infrastructure (JPIL), popularly known as ISCON group, was among the first firms to come up with a five-storied corporate house on a 700 sq yard plot along CG Road about four years ago. Ever since, eight others have joined the club.

"Making the brand visible was the main idea. The 14,000 sq ft ISCON house was too big at that time, but later on the company grew and now we use all the floors," says Jatin Gupta, managing director, JPIL.

B-Safal group's house being developed on 1,250 sq yd land near Rajpath club is on the verge of completion. "We have created 22,000 sq ft space, keeping in mind the needs of a real estate company," says Rajesh Brahmbhatt, managing director of B-Safal.

Source: Realty Plus Ahmedabad realtors go for corporate houses

Speaking to Business Standard, C P Singh, chairman, TNEB said TNEB and MSMC floated a company called Mahatamil Collieries Ltd (MCL), with a shareholding ratio of 74:26 of TNEB and MSMC.

The JV company was formed for exploring, developing, mining and supplying coal from the Gare Pelma II coal block in Mand Raigarh district, Chhattisgarh. The area is around 24.95 sq km and it is in triangular in shape, the maximum length and width of the sector are 21.75 km and 3.75 km respectively.

Apart from developing a coal mine, the company will also set up a power plant with a capacity of 2,000 Mw in Chhattisgarh.

"It is better to use the local coal for producing power."

Source: Business-standard Chhattisgarh to see big ticket investments

The commission said that the buyer is also entitled to refund of entire money with reasonable interest and any deduction on the said amount is unjustified.

"The petitioner was fully justified in opting out of the (hire-purchase) scheme and demanding refund of the money that she had paid along with interest," it said.

The commission passed the order on a petition of Agra resident Indira Gupta seeking quashing of Uttar Pradesh state commission direction to deduct 20% from the amount to be refunded to the complainant by the Agra Development Authority.

"We direct that Rs66,000 along with 15% interest be paid to Gupta by the authority, as ordered by the District Forum, within six weeks along with Rs2,000 as cost of litigation," the commission bench headed by president justice Ashok Bhan said.

"The fact that the authority had erred in not giving the possession of the house to Gupta as envisaged under the scheme and in the absence of any rules and regulations by which 20% could be deducted from the refunded amount, we are unable to uphold the order of the state commission and therefore set it aside," the commission said.

Source: www.dnaindia.com Buyer Can Opt Out Of Housing Project If Possession Is Delayed

`Vertical' growth
The city, once known for its unique houses with `Mangalore Tile' roofs, is now experiencing rapid vertical growth with many new high-rise projects by the local developers and a few from outside. The residential space development is taking place both in the city and in suburban areas.

Mr K. Narasimha Prabhu, former President of Kanara Chamber of Commerce and Industry, told Business Line that the real-estate sector appears to be booming in Mangalore, as many projects have been launched in the recent months.

Mr Prabhu, who is also the Chief Executive Officer and Managing Director of Manipal-Ace Event Management Company, said that the realty expo organised by his company attracted about 15 developers and equal number of banks and other housing finance companies. If the residential space development plans of these developers are taken into consideration, the number will cross 1,000 apartments with more than one million sq.ft of built-up area.

Bangalore-based Bearys Group, which entered the Mangalore market in the 1990s with its `His Grace' apartment project, is now setting up two more projects in Mangalore. Work on `Bearys Valencia' -- a 36-unit luxury apartment project -- began in early 2009. While launching this project, Mr Syed Mohammed Beary, Chairman and Managing Director of the group, had said that Bearys Valencia is the first green building project of Mangalore.

Source: www.thehindubusinessline.co Mangalore realty looking up

According to a report by Jones Lang LaSalle India (JLL), a real estate consulting firm, the western central micro market has the highest capital values in realty deals in Ahmedabad, as against western, northern and eastern suburbs. "Capital values in Western Central are the highest among all the city's micro-markets. Western Central, which encompasses the CBD and the new commercial development along S.G.Highway, is a major attraction for the city's more affluent property buyers," the report states.

Construction activity, as per JLL, is evident largely in residential projects, since this is currently the primary growth sector on the Ahmedabad property front. "Ahmedabad property rates for new schemes at various locations have shot up by as much as 20-30 per cent over the last six months. Residential projects are coming up fairly rapidly on the Western and Northern side of the city, with a fair amount of residential construction on the Eastern side, as well," said Kripal Singh, manager - strategic consulting, JLL India.

Source: Business-standard Central area of west A'bad sees highest realty capital values

The SEZ developers say the tax regime approved by the Cabinet on Thursday does not reduce the uncertainty, which will make it difficult for them to attract units.

"We have clients who have developed SEZs and got into serious talks with interested investors, only to have them back out when the first draft of the DTC was circulated," says Hitender Mehta, partner, Vaish Associates Advocates, a Gurgaon-based consultancy firm.

Developers are not sure whether investments that they have already made in zones under construction will attract units though the direct taxes bill approved by the Cabinet retains the tax exemptions available to them under the SEZ Act.

Developers and the units located in the SEZs are particularly opposed to the provision in the code that links tax exemptions to investments made rather than profits earned.

Source: Economic Times By AMITI SEN New DTC: SEZ sops may continue till 2014

Hong Kong, Shanghai and Singapore are seen leading the recovery in Asia, with rental increases of between 10 to 20 per cent in 2010, while growth momentum will likely pick up in Tokyo and some Indian cities starting in 2011, it said in a statement on Wednesday.

"Rents are nearing or past the trough in most regional markets with residual declines in a few centres," Jane Murray, Jones Lang LaSalle's head of Asia Pacific research, said.

"With hiring activity now resuming in many markets, expansion demand is expected to strengthen as occupiers' position for future growth," Murray said.

In the second quarter, net absorption of quality office space rose by 13 per cent from the previous three months, with rental values rising as much as 8.3 per cent quarterly in Hong Kong.

However, direct commercial property transaction volumes in Asia Pacific fell 32 per cent in the second quarter from the previous quarter to $16 billion partly due to concerns over tightening measures in China, it said.

"We are in talks with private equity players, but the discussions are not very serious now," said M R Jaishankar, chairman and managing director, Brigade Group.

The whole project is currently owned by Brigade Enterprises Ltd (BEL), he said. If the talks fructify, the company would divest 25-50 per cent of the stake in both retail and commercial developments at the project level. "We would be looking at two separate special purpose vehicles (SPVs). We are looking at anywhere between $100-200 million for each SPV," he added.

The company has invested about Rs 1,000 crore on the commercial development, which has obtained the "World Trade Centre" licence and would now be called "World Trade Centre Bangalore".

For the commercial development, the funding was through equity and debt, while for the residential part of the project, it was a mix of equity, debt and advances, he said.

The company's current debt equity ratio stands at 0.65:1.

The company plans to come out with its proposed QIP to raise Rs 750 crore "at an opportune time, since the appetite for real estate players is not really great in the markets now," said Jaishankar.

Your's Truly Sanjay, Editor of this website, will be on Zee Business' News program MoneyGuru @ 7:30PM to 8:00PM August 26, 2010 to discuss property and real estate.

Officials in the government revealed that the government aims to attract some prominent players, so it extended the date.

The new upcoming IT Park at Railmajra would be a self-contained IT Park right on the national highway and currently, the government has invited entrepreneurs for allotment of five plots each of 1,000 square yards and 2,000 square yards. Also, areas for commercial activities, multiplex etc. have also been earmarked to cater to the IT industry

The IT Park will particularly benefit SME entrepreneurs and start-up companies with the availability of small sizes of plots. Punjab Infotech will also set up an incubation centre and provide built up space to the start ups.

The IT park has been developed by Punjab Infotech, State's nodal agency for promotion of IT/ Knowledge industry in the State.

Punjab Infotech will be spending '8 crore for basic infrastructure development and has also tied-up with Rayat Bahra campus adjacent to the IT Park for provision of facilities including transportation, banking, shopping, conference hall etc.

It has also made provision for Service Apartments at the IT Park. IT Units/Parks will have permissible FAR of 300 per cent on gross area of the project.

Realty firms are returning to small cities to develop the land parcels they had bought during the property boom of 2005-07, when many aspired to grow into pan-India players.

Those ambitions are back. Realty firms are again developing and buying land in small cities or towns and entering new markets, after having spent most of the downturn trying to keep a grip on their big city projects.

The country's second largest developer by market value, Unitech Ltd, for instance, is considering launching projects--mainly in affordable housing--in cities such as Hyderabad where it already owns land, a company spokesman said in an email.

More than 40% of Unitech's projects are in the Delhi-National Capital Region (NCR), though it is also present in Kolkata, Chennai, Bangalore and Mumbai.

Credit Suisse Group AG says in a 5 July report the Indian property market will likely be driven by volumes and not prices, and a developer who can churn land faster by selling at affordable prices will be able to generate better returns.

Source: Live Mint By Madhurima Nandy & Devesh Chandra Srivastava Builders Selectively Return To Launch Projects, Buy Land In Small Cities

They were widely expected to fall in the wake of the ending of the homebuyer tax credit on April 30 which is widely regarded as having boosted sales, but few expected such a dramatic fall.

The news will increase fears that the US is heading for a double dip in its real estate market and the fact that sales decreased in each region of the country during the month will add to this.

The latest report from the NAR also shows that sales of distressed properties now account for about a third of all sales, some 32 per cent. Single family home sales, which account for the majority of sales, fell 27.1 per cent to 3.37 million, the lowest rate since 1985.

Lawrence Yun, chief economist at NAR, expects the trend to continue for some time. "Buyers rationally jumped into the market before the deadline for the home buyer tax credit expired. Since May, after the deadline, contract signings have been notably lower and a pause period for home sales is likely to last through September," said Yun.

Source: Realty Plus US property sales drop spreading concern that economic recovery is slowing

बेंगलुरु से करीब 11 किलोमीटर दूर 16.3 एकड़ में वैभव प्रोजेक्ट तैयार हो रहा है। उद्यमी जयंती तीर्थ राव और सिटी बैंक के उनके पुराने सहयोगी पीएस जयकुमार की नई कंपनी वैल्यू ऐंड बजट हाउसिंग कॉर्पोरेशन अब सिर्फ साढ़े चार लाख रुपए के मकान बनाएगी। ऐसे 1900 मकान बनाए जाएंगे। बाद में यह परियोजना अन्य शहरों में भी लागू होगी।

एचडीएफसी इस प्रोजेक्ट के लिए फाइनेंस की व्यवस्था कर रहा है। उसके चेयरमैन दीपक पारेख ने इसकी सराहना करते हुए कहा कि भारत के शहरों को ऐसे प्रोजेक्टस की बड़े पैमाने पर जरुरत है। इसके लिए राज्य सरकारों को भी आगे आने की जरुरत है।

इस प्रोजेक्ट की तरह एक और प्रोजेक्ट वहां तैयार हो रहा है। एक नॉन चैरिटेबल संगठन जन आग्रह यहां 500 मकान बना रहा है। इन मकानों की कीमत 5-5 लाख रुपए या उससे भी कम होगी। इस प्रोजेक्ट को तैयार कर रहे हैं रामनाथन वैभव ने मकानों की कीमत कम रखने के लिए कंक्रीट की बजाय हल्के एल्यूमिनियम बीम का इस्तेमाल किया है। इसके फ्लैट तीन साइज के होंगे। इनमें स्टूडियो, वन बेडरुम और दो बेडरुम हॉल भी होंगे। कंपनी दो से तीन साल तक इन्हीं कीमतों पर मकान बनाएगी। उसका इरादा कीमतों को और कम करने का है।

But transactions are expected to fall back again this month as the market enters a slower period although overall 2010 is already being described as a good year for real estate.

In the first seven months of this year, developers have sold 9,957 private homes, excluding executive condos, following on last year's strong sales of 14,688 units.

Global real estate consultants CB Richard Ellis expects the full year figure to be about 14,000 units, Jones Lang LaSalle's estimates sales of 13,000 to 14,000 units while DTZ's SE Asia research head Chua Chor Hoon puts the number at 13,000 to 15,000 units.

"The outlook still remains positive against the backdrop of Singapore's economic growth and the low interest rate environment but buyers will be more selective given that so many Government Land Sale sites are being sold. This will translate to greater choice of new projects," said Hoon.

Source: Realty Plus Private property sales by developers in Singapore surge 82%

"The first phase of the mega project will cater to hi-tech engineering and service industry, targeting development of 5 million sq ft area, while the second phase will witness residential, commercial and recreational development," told Dahiya.

Vigneswara plans to raise funds through private equity and debt. "We propose to raise Rs 200 crore from private equity and another Rs 750 crore as debt. We are looking at debt-equity ratio of 2:1, with Rs 150 crore as our equity through land. The first phase of the project will cost around Rs 1,100 crore," informed Dahiya.

The proposed township will come up in Goa bordering Karnataka. "Being in close proximity to the upcoming largest naval base of Karwar and with Konkan Railway passing through the area, we enjoy a great locational advantage. Moreover, Goa is being developed as big shipbuilding hub that offers good opportunity for the service industry. Some manufacturing companies from Russia and Israel have already shown their interest" told Dhaiya.

According to Dahiya, Vigneswara has already acquired land for the project and signed an MoU with GSIDC. And with all the permissions in place, the project is set for launch by in the middle of next year.

The horseshoe-shaped site is spread across the properties of the now defunct TR Mills Pvt. Ltd and Chandra Spinning and Weaving Mills Pvt. Ltd, two of the oldest composite textile mills in south Bangalore. The two properties are owned by the same family.

Dotted with sick mill lands, the stories of both south Bangalore and central Mumbai are quite similar, the rapid transformation of their skylines brought about by textile mill lands giving way to giant shopping malls and high-rises.

"We are expecting in excess of `350 crore and are anticipating interest from not only local firms, but (also) from private equity funds and real estate firms from Delhi and Mumbai," said Alexander Moore, managing director, LJ Hooker India, the local arm of the Australian real estate marketing firm that's involved in the sale process. "There is no question that interest is returning for land deals in good locations."

Source: Live Mint Two textile mill plots up for sale in Bangalore for `350-400 crore

"108 acres of surplus land is identified for disposal at an estimated value of Rs 3,990 cr," Minister of State for Textiles Ms Panabaaka Lakshmi said in the Rajya Sabha.

Recently, real estate major Indiabulls Intrastate bagged NTC's 8.3 acres of the defunct Bharat Textile Mills, in the posh Worli area of Mumbai, for a whopping Rs 1,505 cr. The company also bought NTC's 2.3-acre Poddar Mill land for Rs 474 cr, paying almo st double the reserve price of Rs 250 cr.

NTC's 77 unviable mills have been closed under the Industrial Disputes Act and 18 viable mills, which have been modernised, are generating cash profits. The company has surplus land across the country, including Mumbai, Bangalore, Indore, Karnataka and Coimbatore.

All cities of Punjab would be interconnected with four or six-lane roads after completion of seven major projects worth Rs 6,689 crore. These projects, which would be completed in next two years, will make the state the first in the country to have such a facility, he said.

Sukhbir said by June 2011, major road projects including 4-laning of Zirakpur-Patiala road (NH-64), 4-laning of Patiala-Bathinda road and 6-laning of Sher Shah Suri Marg (NH-1) from Panipat to Jalandhar (Rs 2700 crore) will change the face of the state.

He also inaugurated four new projects including Railway Over bridge at Budhlada and Railway Under bridge at Mansa.

He said that in view of priority given by the Chief Minister, Mr.Bhupinder Singh Hooda to sourthern Haryana, particularly district Mahendergarh in the matter of development, the people of this area would organize a samman rally at ITI ground, Mahendergarh on August 22 to honour Chief Minister. The rally would break all the previous records in terms of crowd.

He said that the Chief Minister had done a commendable by making the neglected area of district Mahendergarh as a leading district in education as the Central university has been set up in the rural areaof the district. With the setting up of this university, the latent talent of the rural areas would come to the fore.

Rao Dan Singh said that the Chief Minister has expressed great respect to the area by appointing a noted educationist, Dr.K.C.Bhardwaj, resident of village Pali of this area, as Vice Chancellor of Ch.Devi Lal University, Sirsa. Dr.Bhardwaj would also be honoured in this rally, he added.

The SEZ act was to be discussed in the recently concluded monsoon session, but was kept on hold as the government anticipated protest within the ruling combine. In principle, the Congress-NCP is not against SEZ.

But a few elected members are apprehensive about certain clauses recommended in the act. They fear that once passed, SEZs will run like a parallel administration not accountable to the government.

According to BJP (MLA) Devendra Fadanavis, "The biggest concern is land acquisition. The SEZ is perceived as a land grabbing exercise. The act has to strengthen the mechanism to assure there would be no forcible land acquisition and those parting with their lands will be given adequate compensation."

Source: Realty Plus Maharashtra govt puts SEZ act on the back burner

While stating this here Sunday, a spokesman of the Board said that for the first time, 1.5 per cent reservation has also been provided to the accredited correspondents. Housing Board, Haryana was the first Housing Board in the country to provide 33 per cent reservation of the total houses and flats constructed by it for women applicants to improve their socio-economic  status, he added.

The State Government has framed a policy to transfer 50 per cent plots for economically weaker sections of the society carved out by colonizers in the plotted colonies for which licenses have been issued by Department of Town and Country Planning, Haryana for BPL category. He said that sofar the Board had taken over the possession of 453 plots at Ratia, District Fatehabad, Faridabad, Gurgaon and Dharuhera. The process to take possession of over about 1000 developed plots at Gurgaon, Sonepat, Panipat, Karnal and Faridabad was in progress, out of 3400 plots offered so far in various districts.He said that the Chief Minister, Mr Bhupinder Singh Hooda has already announced several incentives for the weaker sections of the society.

He said that about 43 acres of land under various Municipal Committees of Rohtak, Ambala, Cheeka, Karnal and Pehowa had been identified where about 3500 houses of different categories, mainly for lower strata of the society would be planned. The Board had already purchased 18.75 acres of land at Sector-5, Hansi and six acres of land at Sector-1, Narnaul from HUDA, where about 1222 houses of different categories would be constructed.

The spokesman said that during this year, Housing Board, Haryana had launched housing schemes comprising 2932 houses at Industrial Estates, Bawal and  Barhi, Sector-4, Hisar; Sector-9, Bahadurgarh; Sector-19, Sirsa; Sector-4&5, Karnal and Sector-8, Jind. Construction work of 802 houses at Hisar, Karnal, Bawal and Barhi was in progress and construction of balance 2130 houses would be started shortly as tenders for these works were under process. The construction of 3085 houses valuing Rs. 186.50 crore was in progress at Panchkula, Kurukshetra, Karnal, Hisar, Bhiwani, Sonipat, Gurgaon, Bawal, Barhi and Faridabad, he added.

Initially DMRC will develop the 9.25-km long metro corridor in the city, the first project outside the Delhi-NCR region. An agreement to this effect will be signed between DMRC and the Rajasthan Government. As per the agreement, the Delhi Metro will be doing the civil construction, including the track work (Permanent Way), construction of the Metro maintenance Depot and arrangement for traction and power supply. The estimated cost of the project will be `1,250 crore.

Though this is the first project that the DMRC is directly implementing outside Delhi NCR region, the DMRC has already provided consultancy to all other State Governments interested in implementing Metro projects in their cities such as Bengaluru, Kochi, Kolkata, Chennai, Mumbai, Ahmedabad, Pune and Ludhiana.

The DMRC will complete the Jaipur Metro project in three years and seven months time after signing the agreement. The DMRC has already set up a project office at Jaipur headed by the Project Director Lalit Meghnani to ensure that the project is implemented at a fast pace.

Source: The Pioneer DMRC inks deal to develop Jaipur Metro

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The Aerocity Township coming up near the airport, too, fetched Rs 1.5 crore an acre for farmers in April this year. Punjab is now all set to offer an equally hefty compensation to farmers for the upcoming Urban Estate in the scenic vicinity of Chandigarh at Mullanpur.

"The land compensation for the 444 acres to be acquired by the Greater Mohali Area Development Authority (GMADA) at Mullanpur will be Rs 1.5 crore per acre for farms near the highway and 1.25 crore for those seven or more kilometres away," said Secretary, Housing and Urban Development, S S Sandhu. The final compensation will be announced after the meeting of the price fixation committee headed by the Mohali deputy commissioner.

And it is not just the high-potential areas in Chandigarh's vicinity that have been rewarded generously by the government. Punjab has been equally magnanimous in compensating farmers whose land do not `qualify' for such a good deal. In 2009, the erstwhile Punjab State Electricity Board (PSEB), now Powercom, had objected to the "high" land compensation figure for the state's biggest power project, the 2,640-MW plant at Gidderbaha.

"PSEB had referred back the matter of land compensation to the government, citing the rates to be on the higher side. Much of the land to be acquired was wasteland owing to waterlogging," said a former PSEB official.

Finally, three different rates were fixed for the nearly 2,300 acres that were to be acquired from two villages. "Though the 2008 land acquisition proceedings for the power plant have now lapsed and will have to be initiated afresh, the rate of the best land was finalised at Rs 28 lakh an acre, including 30 per cent solatium and 10 per cent no-litigation premium. For the second best land, the price was worked out to be Rs 16.5 lakh an acre, plus the two allowances Rs 23 lakh an acre while the compensation for the waterlogged land was decided to be Rs 14 lakh an acre, plus allowances that totalled up to Rs 19.6 lakh an acre," said Muktsar Deputy Commissioner Varun Rujam.

Source: The Indian Express By Sukhdeep Kaur Punjab sets high price for its land

However, developers like Sobha, Puravankara and Brigade were able to keep the debt burden under control with signs of stability in their balance sheet in the near future.

"The results posted by the Bangalore-based real estate companies were decent this quarter despite a fall on a sequential basis. This is due to the conscious decision taken by developers to keep the debt component under control," an analyst with Anand Rathi said.

City-based Puravankara Projects posted a net profit of Rs 39.69 crore during the first quarter, a drop of 9 per cent in comparison to the January-March period of FY10.

Similarly, the net profit of Sobha Developers was at Rs 34.3 crore, a fall of 38 per cent in comparison to the fourth quarter of FY10.

Source: Realty Plus Bangalore realtors see drop from Q4 on demand fall

Official sources said the state government and the NHAI have agreed to provide one exclusive entry and exit point for business city of Ludhiana and ensure completion of the project by June 2011. The meeting also decided to put all the four projects with a combined project cost of Rs 4,225 crore, including six-laning of Panipat Jalandhar Section of NH-1, four-laning of Jalandhar Dhilwan section of NH-1, four or six-laning of Kharar Ludhiana section of NH-95, four-laning of Ludhiana Talwandi section of NH-95 on fast track ensuring their early completion.

Accompanied by State PWD minister Parminder Singh Dhindsa, the deputy CM also had a detailed meeting with the NHAI chairman to sort out lingering issues coming in the way of early completion of various lifeline projects of Punjab.

A joint committee of chief general manager, NHAI Chandigarh and chief engineer National Highways, Punjab PWD was constituted to work out the solution for small obstacles coming in the way of smooth completion of this project. Singh assured Badal that the work of Ludhiana-Talwandi section would be allotted by September 2010 and for Kharar-Ludhiana section by January 2011.

The firm, which is developing nearly 70% of its projects with the Ajay Piramal group through their joint venture Piramal Sunteck Realty Pvt. Ltd, concluded the transaction recently after a six-month-long negotiation. The deal was struck through Sunteck's subsidiary Skystar Buildcon Pvt. Ltd, said man- aging director Kamal Khetan.

"Sunteck bought the land at a good price because land rates in the area range from Rs35 crore to Rs45 crore an acre," said Akshaya Kumar, chief executive, Parklane Property Advisors. "But the soaring prices are not a good indication because it means that the market is headed towards a correction again," Kumar added.

Land prices in Mumbai are nearing an 18-month high and big-ticket transactions are on a roll, analysts said.

Khetan said Sunteck Realty will continue looking for land acquisitions at reasonable prices.

Source:www.credaincr.org Sunteck Realty buys land in Mumbai suburb for Rs150 cr

Katta Subramanya Naidu, minister for Bangalore Water Supply Board, said, "We're not in a position to supply water to complexes and multi-storeyed buildings till 2011, November, December. We're not in a position to give connections to new buildings."

It's an announcement that could curb IT city's fast paced growth. The government says new apartments and complexes simply won't get new water connections till the Cauvery Stage Four supply project is completed by the end of 2011.

Irshad Ahmed, secretary, Bangalore Realtors' Association, says, "How can we say the building is ready but we cannot give you the amenities. The basic is electricity and water. If that is not given, the buildings will be ghost-towns."

There are already a few hundred projects under construction, several nearing completion. But the government says it has no choice.

Source: Realty Plus No water connection for new homes in Bangalore