June 2010

Govt to Disallow IT Companies in SEZs

by Paul Joseph June 1, 2010

MEPZ Special Economic Zone , one of the seven export processing zones (EPZs) set up by the Indian government, has decided not to encourage any more IT companies to set up shop in the zone. The decision comes from the administration to check the growing occupancy by the IT companies in the zone, which was meant to promote the manufacturing sector. The zone administration said soon it would come out with an “incubation scheme” to encourage small start-up manufacturing companies to set up shops in the zone. MEPZ presently houses IT companies like Cognizant Technology Solutions, Computer Sciences Corporation, CSS, HTC Global Services (India) Pvt Ltd and others are some of the software majors who have occupied space inside the zone, according to the information available in MEPZ’s website. Ajay Mittal, development commissioner, Madras Export Processing Zone (MEPZ), said, “We have taken a decision not to encourage any more IT investments into the zone to protect the manufacturing companies, especially small units.” “They are coming to us since the land price is low. We are advising them to look at private SEZs which are coming up in and around the city to set up their shops,” said Mittal. He added, the zone will soon come out with a new “intubation scheme” which would support small start-up companies. “We will have exclusive space for units which want to set up shop in 2,000-2,500 sq ft.” The proposed scheme will be the first of its kind in the country which are provided in the SEZs promoted by the government, claimed Mittal. Located in Tambaram, Chennai, the zone was established in 1984 with the objective of promoting foreign direct investment, enhancing foreign exchange earnings, and creating greater employment opportunities. The zone was converted into a special economic zone on January 1, 2003. The objective of the SEZ is to facilitate exports through a reduction in transaction costs.

Tagged as: city, government, indian, real estate, real estate developers

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Ansal Reports 131 Per Cent Rise in Consolidated Net Profit

by Paul Joseph June 1, 2010

Real estate developer Ansal API on Tuesday reported a 131 per cent rise in consolidated net profit to Rs 71 crore for FY’10. The company had recorded a Rs 30.69 crore net profit in 2008-09, it said in a statement. Ansal API’s total income grew 15 per cent to Rs 871.32 crore in 2009-10 compared to Rs 756.32 crore in the previous fiscal. “Our strategy to offer a range of products across various price points and categories has helped the company in taking maximum advantage of the recent pick-up in demand in the housing segment,” said Pranav Ansal, vice-chairman and managing director, Ansal API.

Tagged as: api, housing, real estate, real estate india

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Marathon Realty FY 10 net vaults 251% to Rs 146.69 crore

by Paul Joseph June 1, 2010

Marathon NextGen Realty Ltd has clocked a 251 per cent vault in its net profit to Rs 146.69 crore in FY 10 as against Rs 41.76-crore in the year-ago period. Its total income rose to Rs 250 crore in FY 10 as against Rs 131-crore in the year-ago period, a press release issued said. The company has announced a dividend of 35 per cent, inclusive of an interim dividend of 15 per cent already paid and a one-time special dividend of Rs 1.50 per share. The company’s board of directors has also recommended the issue of bonus shares in the ratio of one new equity share of Rs 10 each for every two existing shares of Rs 10, the release added. In Q4 FY 10, its net profit rose to Rs 47.86 crore as against Rs 9.64 crore in the year-ago period. Net sales stood at Rs 75.55 crore in the reporting quarter as against Rs 21.34 crore in the same period last fiscal, the press release said.

Tagged as: gurgaon, issue, real estate, real estate developers, real estate india

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Amritsar to Have Heritage Village by Next Year

by Paul Joseph June 1, 2010

If all goes as planned, the Heritage Village being developed by the Punjab Heritage and Tourism Development Board (PHTDB) on the campus of Guru Nanak Dev University (GNDU) may become operational in a year. In a meeting held earlier this month, chief minister Parkash Singh Badal approved the draft proposal for the plan, prepared by Delhi-based consultancy firm Abhimanyu Dalal Architects. Board officials say the chief minister will soon lay the foundation stone of the Heritage Village, which will be developed on the lines of Chokhi Dhani in Jaipur. The Heritage Village, with a tagline, ‘Sada Pind Saadi Virasat’, is being developed on 11 acres. The boundary wall is under construction. After the foundation stone is laid, the board will float tenders for the construction of the project, for which it has received Rs 6.5 crore from the Central government. The state government has assured that it will pool in an equal amount.

Tagged as: being-developed, chandigarh, real estate india, tourism, university

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Land prices Skyrocket in Sanand on Nano Arrival

by Paul Joseph June 1, 2010

At this time of the year, the only outsiders who venture onto the dusty road leading to Sanand, 60 km off Ahmedabad, are birdwatchers on way to Nalsarovar sanctuary to spot Rosy Pelicans, Flamingoes, White Storks, Brahminy Ducks and Herons. Chakda—an improvised carriage pulled by a 350cc Enfield motorcycle—is the local public transport, and any solitary car rolling in is an amusement for local kids. Or so it was until last year. On a dry summer day in the last week of May, the road leading to Sanand that cuts off from the Ahmedabad highway is lined with container trucks that ferry Tata’s Rs 1-lakh car Nano to the rest of the country. Next to the sprawling Tata Motors plant, a tea vendor who gave up her land for constructing the road attends to customers, most of them employees from the newly-born component cluster here servicing Tata Motors, and L&T engineers supervising construction of the six-lane highway in front of the plant. With scores of 26-wheeler container trucks moving in and out of the plant, the sleepy township is waking up to a new dream. On Wednesday, when Tata Motors chairman Ratan Tata and Gujarat chief minister Narendra Modi inaugurate the Rs 2,000-crore Nano mother plant, they will be also unveiling a new Sanand. In one stroke, the epithets that denoted the dusty town till now—Gujarat’s tobacco belt, home to the state’s biggest wetland—will make way for that of an auto hub. The comparison, common these days among the new arrivals in town, is not far off the mark. The State Highway 17, a two-lane road, is being upgraded into a six-lane one connecting it with Kandla—the country’s no.1 port in terms of cargo handling—and the private port of Mundra. While the PPP project (along with L&T) was commissioned before Nano, the project has been on the fast-track with this project. And the Ahmedabad airport is only 40 km away. Realty prices have skyrocketed by over 300% in the last two years in Sanand. Jaxay Shah, president of Confederation of Real Estate Developers Association of India (Gujarat), says that land prices were around Rs 800-1,000 per square yard (about 9 square feet) two years ago. This has now hit Rs 3,500-4,000 per square yard.

Tagged as: ahmedabad, country, project, real estate india, time

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Phase-2 of Unitech Vistas at Sector-70, Gurgaon.

by Paul Joseph June 1, 2010

After the successful launch of Phase-1 of the Unitech Vistas, InvestInnest, in association with Unitech Group, brings to you the Phase-2 of Unitech Vistas at Sector-70, Gurgaon. The Project: Discover your oasis of serenity. An impressive silhouette of magnificent towers against a clear blue sky, “Vistas” offers panoramic views of its landscaped surroundings. With options of 2, 3 & 4 bedroom apartments overlooking sprawling greens; you can feel the pulse of the city here while being at peace with your inner self. The conveniences of contemporary urban living against a backdrop of exclusivity, is at the heart of what “Vistas” promises you – a truly exceptional lifestyle! Sizes and Rates: Expected Basic Sale Price: Rs. 3500 per sqft. __________________________________________________ Apt. Size BSP Booking Amount 2BHK+2T 1200 sqft 42 Lacs 4 Lacs 3BHK+3T 1550 sqft 54 Lacs 5 Lacs 4BHK+4T 1800 sqft 63 Lacs 6 Lacs Inaugural discount shall be given to the early birds and shall be withdrawn without notice. Project Completion – 3 years from the date of launch (Construction works started on phase-1) . Extra charges for parking, club, EDC/ IDC, PLC (Preferential Location Charges) for Park facing, Corner, Club facing etc. The Location: Located at Sector-70 Gurgaon, The project shall be at a walking distance from the proposed Metro station. · Well connected to N.H.-8 & Golf Course Extn. Road · Excellent connectivity to Gurgaon-NCR through the upcoming Metro · Proximity to residential, retail and commercial development on Sohna Road & Nirvana Country · World class school such as Shikshantar, The Shri Ram School, DPS, Amity International, Heritage, Pathways & GD Goenka within 20 minutes driving distance · Leading hospitals such as Medicity, Artemis, Max, Fortis, Apollo, Sir Gangaram & Batra Hospital within 20 minutes driving distance Common Amenities: ü Club facility with multipurpose room. ü Swimming pool. ü Abundant green areas with Jogging and Walking tracks. ü Sports facility with open lawn tennis & badminton court, sand pits and Tot-lots with kids play equipment. ü Secured gated community. ü Intercom facility. The Developer: Unitech is one of the largest listed real estate company in India. It has experience of over 20 years in real estate development turning many a barren landscapes into landmarks. It is ranked among the Top 50 real estate companies in the world and boasts developments such as Nirvana Country, South City, The Close, Cascade to name a few. Please contact us for further details, any clarifications and booking by return email or call at any of the following numbers. For InvestInNest, Call Us(24×7): USA (917) 338 6416 | Canada (613) 482 9788 | UK 020 8090 4217, 0845 43 00015 | India 9717841117

Tagged as: city, price, project, swimming, unitech

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Emaar MGF Gurgaon

by Paul Joseph June 1, 2010

Subsequent of Gurgaon real estate news is certainly an excellent scheme lest you have plans for landed property investment in the city. Via departing during the Gurgaon realty news you would be capable to obtain a apparent plan of the city’s real estate bazaar development. MGF Group residential and commercial properties incorporate architectural splendor with greater functionality. All MGF Group plans are fetched to execution on the rear of up to date technology and more than seven decades of knowledge in this region. As a MGF Group sales agent, this group carries to investors leading MGF Group schemes that are identical with superiority, advanced plan, and all round value. The MGF Group has engaged among Emaar Properties PJSC Dubai – a foremost property corporation of the planet. This association has resulted in biggest FDI inflow in the property in India . The business is entitled Emaar MGF and is occupied in pan Indian actions with plans in commercial, residential, infrastructure and hospitality zones that are just about in incorporated master schemes and a range of special economic zones all over India. Emaar MGF Launch EMaar Palm Hills in Gurgaon

Tagged as: association, city, dubai, emaar mgf, gurgaon, india, india property, indian, real estate

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Jaypee Greens in Noida

by Paul Joseph June 1, 2010

A mark of current town preparation, Noida is the best ever mounting parish in the National Capital Region, with worldwide standard infrastructure. Jaypee Greens Noida is positioned 4 kms as of the Amity intersection, in that way taking pleasure in superior connectivity and locational gain regarding the city major plan. Step out of your residence above 1162 acres of dropping greenery. Benefit from all the comforts of life by way of our current top-notch dwellings that array from squat-grow and mid-grow apartments to hi-rise skyscrapers. Pamper your sanity in the countless fame of scenery by way of numerous scenery parks, thematic gardens, and verdant green release spaces among assortment of wild life. Jaypee Greens in Noida is well connected with shopping malls crosswise the highway to complexes that daze you since you step out into the bright night air, Jaypee Launch Kasa Isles Noida

Tagged as: city, noida property

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