Chandigarh • Aiming for more private investment, Haryana yesterday approved three more special economic zones (SEZs) that will come up over 33,000 acres.
A state industries department spokesman said a 20,000-acre SEZ would be set up by infrastructure developer DLF near Gurgaon. DLF has also been chosen for a 3,000-acre SEZ near Ambala, 50 km from Chandigarh. The third SEZ would be developed by the Unitech group at Kundli in Sonepat district bordering Delhi. It will be spread over 10,000 acres.
The Haryana Industrial and Infrastructure Development Corporation (HSIIDC) would have a 10 per cent sweat equity in all the three projects.
The private developers will have to buy land on their own but the state government would facilitate the process through its land acquisition policy.
Source: www.thepeninsulaqatar.com
Wednesday, May 2, 2007
Monday, April 30, 2007
Gurgaon Waking up to Specialty Malls
The old adage “The more the merrier” seems apt for the fast flourishing cyber city of Gurgaon that already has scores of monumental malls. Adding to its mall culture are coming specialty malls like wedding malls, festival city, boutique malls and the glittering gold souk.
Work on wedding mall is already under way whereas the construction work for two boutique malls and a festival city are expected to commence soon.
Not only this, there is one company, which is coming up with a theme destination mall in Gurgaon. It plans to invest a whopping Rs 300 crore and assures to offer world-class retail stores, entertainment, leisure experience and even an IMax theatre for the movie buffs.
The company spokesperson informed that the malls the firm is planning will be among the biggest malls of the city and will spread over an area of two million-sq ft.
He added that besides environment friendly design with large open sky spaces, the company will take care for the safety of kids, elderly people and the disabled people.
His company is not restricting itself to Gurgaon. It is even branching out to Ludhiana and Punjab too, where it is planning to set up boutique malls.
Do these malls attract genuine buyers or have they just turned out to be a place to do window shopping?
Work on wedding mall is already under way whereas the construction work for two boutique malls and a festival city are expected to commence soon.
Not only this, there is one company, which is coming up with a theme destination mall in Gurgaon. It plans to invest a whopping Rs 300 crore and assures to offer world-class retail stores, entertainment, leisure experience and even an IMax theatre for the movie buffs.
The company spokesperson informed that the malls the firm is planning will be among the biggest malls of the city and will spread over an area of two million-sq ft.
He added that besides environment friendly design with large open sky spaces, the company will take care for the safety of kids, elderly people and the disabled people.
His company is not restricting itself to Gurgaon. It is even branching out to Ludhiana and Punjab too, where it is planning to set up boutique malls.
Do these malls attract genuine buyers or have they just turned out to be a place to do window shopping?
Wednesday, April 25, 2007
GMR ‘dials’ real money to propel Delhi airport plans
The Delhi International Airport Pvt Ltd (DIAL), a special purpose vehicle formed by Hyderabad-based GMR Infrastructure, is planning to go the real estate way to raise Rs 3,000 crore for the development of a new integrated airport terminal in the Capital.
For, the company will give out 250-acre land near Delhi-Gurgaon highway and terminal-III of the Indira Gandhi International Airport on long-term lease to real estate projects like hotels and malls. The entire financing process will be based on securitisation.
“The land will be divided into chunks of 30 to 50 acres each and will be provided on an interest-free deposit to highest bidders,” Madhu Terdal, GMR group chief finance officer told reporters on Saturday.
“The interest free deposit will be repayable after the expiry of the lease period. As per the government guidelines the company has been allowed to make use of this land for commercial purposes and not for residential one,” Terdal added. The capital expenditure for the development of a new integrated airport terminal at Delhi is Rs 8,600 crore.
DIAL has already got a report, based on a study conducted by its consultant Jones Lang LaSalle, for the best use of 250 acres of the total 5,100 acres for real estate development. It will launch roadshows for the same.
Terdal said Motilal Oswal, which has submitted its comprehensive analysis on GMP group, had estimated the per acre price of Rs 45 crore.
Realty Pie
• Company to give out 250-acre land near Delhi-Gurgaon highway and terminal-III of IGI Airport on a long-term lease• The land will be divided into small chunks and provided on an interest-free deposit to highest bidders
For, the company will give out 250-acre land near Delhi-Gurgaon highway and terminal-III of the Indira Gandhi International Airport on long-term lease to real estate projects like hotels and malls. The entire financing process will be based on securitisation.
“The land will be divided into chunks of 30 to 50 acres each and will be provided on an interest-free deposit to highest bidders,” Madhu Terdal, GMR group chief finance officer told reporters on Saturday.
“The interest free deposit will be repayable after the expiry of the lease period. As per the government guidelines the company has been allowed to make use of this land for commercial purposes and not for residential one,” Terdal added. The capital expenditure for the development of a new integrated airport terminal at Delhi is Rs 8,600 crore.
DIAL has already got a report, based on a study conducted by its consultant Jones Lang LaSalle, for the best use of 250 acres of the total 5,100 acres for real estate development. It will launch roadshows for the same.
Terdal said Motilal Oswal, which has submitted its comprehensive analysis on GMP group, had estimated the per acre price of Rs 45 crore.
Realty Pie
• Company to give out 250-acre land near Delhi-Gurgaon highway and terminal-III of IGI Airport on a long-term lease• The land will be divided into small chunks and provided on an interest-free deposit to highest bidders
Wednesday, April 18, 2007
How to Sell Property In Gurgaon?
Usually people resort to sell property in Gurgaon or any other location to reap better benefits through its resale or on account of jobs transfer.
For people who are tired off searching a reliable real estate agent to sell Gurgaon property, there is one more steady way to get the task accomplished. It is free real estate listings that will confer you a great relief from high commissions taken by real estate consultants in Gurgaon. Usually people resort to sell property in Gurgaon or any other location to reap better benefits through its resale or on account of jobs transfer.
Whatever the reason, people go for taking the services of real estate agents in the end to do away with the hassles associate with it.But in many cases, they end up in paying heavy commissions to real estate agents instead. This could be your great loss in case your property is not that expensive and large. This is where a free real estate will come to your rescue.
Now, more and more people have revealed that real estate in Gurgaon or at any other location can be sold with an ease through private sales over the internet. Thus without the help of a commission-charging real estate agent, you can actually sell your Gurgaon property on your own. With free real estate listings on the internet, property buyers and sellers can directly interact with each other. Thus, they can finalize a sound property deal in the end. Other than just high commissions levied by real estate consultants in Gurgaon, there are few other potential reasons as well to consider property selling on its own.
Firstly, the sale promotion for a property conducted by most real estate agents is usually found restricted to the placement of just a signboard. This is obviously not appropriate for the finalization of a profitable property deal. The other crucial fact to look upon is the control over the sale process. By selling a gurgaon property on your own, you will have a better control over all overheads involved in the sale.
Moreover, you can sell property on your fixed price. Last but not the least, you can carry out all this sale process more conveniently which is not the case when you hire real estate agents. So to better reap benefits out of Gurgaon property, try to sell your property on your own keeping all these facts in mind.
Source: http://www.1888articles.com/author-ram-prasad-1147.html
For people who are tired off searching a reliable real estate agent to sell Gurgaon property, there is one more steady way to get the task accomplished. It is free real estate listings that will confer you a great relief from high commissions taken by real estate consultants in Gurgaon. Usually people resort to sell property in Gurgaon or any other location to reap better benefits through its resale or on account of jobs transfer.
Whatever the reason, people go for taking the services of real estate agents in the end to do away with the hassles associate with it.But in many cases, they end up in paying heavy commissions to real estate agents instead. This could be your great loss in case your property is not that expensive and large. This is where a free real estate will come to your rescue.
Now, more and more people have revealed that real estate in Gurgaon or at any other location can be sold with an ease through private sales over the internet. Thus without the help of a commission-charging real estate agent, you can actually sell your Gurgaon property on your own. With free real estate listings on the internet, property buyers and sellers can directly interact with each other. Thus, they can finalize a sound property deal in the end. Other than just high commissions levied by real estate consultants in Gurgaon, there are few other potential reasons as well to consider property selling on its own.
Firstly, the sale promotion for a property conducted by most real estate agents is usually found restricted to the placement of just a signboard. This is obviously not appropriate for the finalization of a profitable property deal. The other crucial fact to look upon is the control over the sale process. By selling a gurgaon property on your own, you will have a better control over all overheads involved in the sale.
Moreover, you can sell property on your fixed price. Last but not the least, you can carry out all this sale process more conveniently which is not the case when you hire real estate agents. So to better reap benefits out of Gurgaon property, try to sell your property on your own keeping all these facts in mind.
Source: http://www.1888articles.com/author-ram-prasad-1147.html
Monday, April 9, 2007
DLF to Move Ahead with Haryana SEZ
With the new limits on the area proposed for construction of Special Economic Zones (SEZs), real estate giant DLF is thinking about dividing its upcoming mega zone in Haryana into two tax free enclaves in the region.
The company has already begun to look out for the land acquisition. It will come up with an SEZ spread over 5,000 hectare but envisages to set up another SEZ of 3,000 hectare in Gurgaon if gets more land.
Earlier, DLF had proposed to build a multi product SEZ in Gurgaon covering over 8,000 hectares, but all in vain. The arbitrary cap of 5,000 hectares on multi product SEZs does not allow the company to pursue its plans now.
The new rules have been created by the Empowered Group of Ministers (EGoM). The authority did not specify whether promoters would be allowed to construct two SEZs in an adjacent area.
Omaxe, another leading name in Indian real estate, had earlier planned to build an SEZ over 6,000 hectare, would also slate new strategies now. But, the company will move ahead with its proposed project even though the size has been curtailed.
The company has already begun to look out for the land acquisition. It will come up with an SEZ spread over 5,000 hectare but envisages to set up another SEZ of 3,000 hectare in Gurgaon if gets more land.
Earlier, DLF had proposed to build a multi product SEZ in Gurgaon covering over 8,000 hectares, but all in vain. The arbitrary cap of 5,000 hectares on multi product SEZs does not allow the company to pursue its plans now.
The new rules have been created by the Empowered Group of Ministers (EGoM). The authority did not specify whether promoters would be allowed to construct two SEZs in an adjacent area.
Omaxe, another leading name in Indian real estate, had earlier planned to build an SEZ over 6,000 hectare, would also slate new strategies now. But, the company will move ahead with its proposed project even though the size has been curtailed.
Thursday, April 5, 2007
Centre trims size of SEZs
Bowing to political pressure, the Centre today decided that no SEZ would be allowed beyond 5,000 hectares of land and States will not acquire land for industry, reports PTI. In the middle of a raging debate on SEZ policy, especially in the wake of the Nandigram violence, the empowered Group of Ministers took these decisions here.
At the same time, the GOM, headed by Foreign Minister Pranab Mukherjee, gave a clear signal that new SEZ norms would not compromise the industrialisation process and lifted the freeze, clearing 83 new projects.
“No state can compulsorily acquire land from farmers through land acquisition act,” Commerce Minister Kamal Nath told reporters, adding that promoters would have to themselves go to farmers and acquire land at commercial rates.
Further, the states would be empowered to reduce the size of SEZs below the 5,000 hectare limit set by the Centre.
Nath said under the new Relief and Rehabilitation Policy, which would be finalised soon, at least one member of the displaced family would have to be employed in the project. This would be in addition to the compensation paid to farmers.
With the freeze lifted, the government would approve all pending applications where there is no land dispute.
Of the 234 SEZs with formal approvals, 63 have already been notified, while 83 more were today cleared for notification. The Board of Approvals will now take up 162 SEZs with in-principle approval and 140 pending applications.
The decision on limiting the size would hurt plans of companies such as Reliance Industries, besides real estate players DLF and Omaxe, which plan to set up mega SEZs.
The GoM decision to limit the size of SEZs to 5,000 hectares comes after Maharashtra turned down the Centre’s request to review the size of 10,000 hectare Maha Mumbai Zone promoted by Reliance Industries.
When contacted, a Reliance Industries spokesperson declined to comment.
It may be noted that both RIL’s Maha Mumbai SEZ as well as the one proposed in Haryana have received only ‘in- principle’ approvals.
Nath said Rural Development Ministry has been asked to amend the Land Acquisition Act and make it more comprehensive.
He said Relief and Rehabilitation Policy is already under preparation by the Rural Development Ministry.
At the same time, the GOM, headed by Foreign Minister Pranab Mukherjee, gave a clear signal that new SEZ norms would not compromise the industrialisation process and lifted the freeze, clearing 83 new projects.
“No state can compulsorily acquire land from farmers through land acquisition act,” Commerce Minister Kamal Nath told reporters, adding that promoters would have to themselves go to farmers and acquire land at commercial rates.
Further, the states would be empowered to reduce the size of SEZs below the 5,000 hectare limit set by the Centre.
Nath said under the new Relief and Rehabilitation Policy, which would be finalised soon, at least one member of the displaced family would have to be employed in the project. This would be in addition to the compensation paid to farmers.
With the freeze lifted, the government would approve all pending applications where there is no land dispute.
Of the 234 SEZs with formal approvals, 63 have already been notified, while 83 more were today cleared for notification. The Board of Approvals will now take up 162 SEZs with in-principle approval and 140 pending applications.
The decision on limiting the size would hurt plans of companies such as Reliance Industries, besides real estate players DLF and Omaxe, which plan to set up mega SEZs.
The GoM decision to limit the size of SEZs to 5,000 hectares comes after Maharashtra turned down the Centre’s request to review the size of 10,000 hectare Maha Mumbai Zone promoted by Reliance Industries.
When contacted, a Reliance Industries spokesperson declined to comment.
It may be noted that both RIL’s Maha Mumbai SEZ as well as the one proposed in Haryana have received only ‘in- principle’ approvals.
Nath said Rural Development Ministry has been asked to amend the Land Acquisition Act and make it more comprehensive.
He said Relief and Rehabilitation Policy is already under preparation by the Rural Development Ministry.
Tuesday, March 27, 2007
Gurgaon City and Gurgaon Malls
With the dawn of mall culture in Gurgaon, the whole way of shopping for enthusiast shoppers has undergone a complete makeover. Forging its pre-independence image of sleepy suburb, today Gurgaon is highly upgraded with the upscale shopping malls which are equivalent both in design and services like any other overseas mall. There are nearly two dozen operational shopping malls in Gurgaon and more 140 new shopping malls are in the pipeline to be developed in upcoming days. Gurgaon shopping malls are at par excellence with any mall from any corner for the developed world.
Now Gurgaon malls are acting more as one stop location for most shoppers who prefer to buy products specifically based on a particular theme under one roof to save on time. To grab the attention of such smart shoppers, many intelligent real estate developers of Gurgaon shopping malls now are focusing on specific demands like high-end products related to marriage, jewelry to further boost up their sales. Moreover, it is also estimated that the whole retail bustle will face a complete alteration if shopping malls in Gurgaon continues to mushroom at this steady pace. Beside this, the profile and face-value of real estate in the vicinity of the Gurgaon malls has also lifted because of the mounting fascination of people towards the properties located in the Gurgaon city.
Gurgaon malls are the most auspicious location not only for the purpose of shopping, but are perfect hangout spot for youngsters as well. The long series of mushrooming shopping malls in Gurgaon starts with DLF City Centre, Gurgaon Metropolitan Mall, Sahara Mall, DLF Grand Mall, Gold Souk, Mega Mall, The Plaza, OMAXE Plaza, Vishal Mega Mart, DLF South Point, etc.
As far as foot falls is concerned, Sahara Mall, Mega Mall and Gurgaon Metropolitan Mall surpass other shopping malls in Gurgaon.
Sahara Mall is first super brand mall and is established in March 2001. it is spread over the area of 3.89 acres and comprises of company owned product outlets having a wide variety of latest offerings. Sahara Mall is located on the Mehrauli-Gurgoan road and is renowned for its distinctive design and latest facilities. The wide spectrum of merchandises ranges from stunning jewelry, elegant clothings to stores of prominent brands including Pantaloons and Raymonds. On the other side, Gurgaons Metropolitan Mall is a fully air-conditioned mall with a seven screen multiplex, departmental stores and food joints.
It is extended over the area of 400, 00 sq.ft and has big brand stores like Nike, Shoppers Stop, McDonalds, PVR, and Benetton. And Mega Mall of Gurgaon is another interesting location for the enthusiast shoppers to visit. Being a Multi-storied mall, it is affluent with a three screen multiplex, a food court and major brand stores such as Nakshatra, Reebok and Dominos. Offering great ambience and terrific visual splendor to guests, Mega Mall of Gurgaon is spread over the area of 30,000 sq.ft.
Now Gurgaon malls are acting more as one stop location for most shoppers who prefer to buy products specifically based on a particular theme under one roof to save on time. To grab the attention of such smart shoppers, many intelligent real estate developers of Gurgaon shopping malls now are focusing on specific demands like high-end products related to marriage, jewelry to further boost up their sales. Moreover, it is also estimated that the whole retail bustle will face a complete alteration if shopping malls in Gurgaon continues to mushroom at this steady pace. Beside this, the profile and face-value of real estate in the vicinity of the Gurgaon malls has also lifted because of the mounting fascination of people towards the properties located in the Gurgaon city.
Gurgaon malls are the most auspicious location not only for the purpose of shopping, but are perfect hangout spot for youngsters as well. The long series of mushrooming shopping malls in Gurgaon starts with DLF City Centre, Gurgaon Metropolitan Mall, Sahara Mall, DLF Grand Mall, Gold Souk, Mega Mall, The Plaza, OMAXE Plaza, Vishal Mega Mart, DLF South Point, etc.
As far as foot falls is concerned, Sahara Mall, Mega Mall and Gurgaon Metropolitan Mall surpass other shopping malls in Gurgaon.
Sahara Mall is first super brand mall and is established in March 2001. it is spread over the area of 3.89 acres and comprises of company owned product outlets having a wide variety of latest offerings. Sahara Mall is located on the Mehrauli-Gurgoan road and is renowned for its distinctive design and latest facilities. The wide spectrum of merchandises ranges from stunning jewelry, elegant clothings to stores of prominent brands including Pantaloons and Raymonds. On the other side, Gurgaons Metropolitan Mall is a fully air-conditioned mall with a seven screen multiplex, departmental stores and food joints.
It is extended over the area of 400, 00 sq.ft and has big brand stores like Nike, Shoppers Stop, McDonalds, PVR, and Benetton. And Mega Mall of Gurgaon is another interesting location for the enthusiast shoppers to visit. Being a Multi-storied mall, it is affluent with a three screen multiplex, a food court and major brand stores such as Nakshatra, Reebok and Dominos. Offering great ambience and terrific visual splendor to guests, Mega Mall of Gurgaon is spread over the area of 30,000 sq.ft.
Subscribe to:
Posts (Atom)
