Videocon arm to withdraw IT/ITeS SEZ project in Bengal
A Videocon group firm has approached the Centre to withdraw its IT/ITES SEZ project at Jalpaiguri due to “latest business outlook” in the northern region of West Bengal. ”…Now, the developer has requested for withdrawl of formal approval stating that the company is not able to implement the project owing to the latest business outlook [...]
Retail realty commands unreal prices
KOLKATA: Believe it or not, it is at least twice as expensive to lease retail space in Kolkata than Bangalore or Hyderabad. There are even instances of property in the city commanding as much rent as one in Mumbai or Delhi. “I can get a retail property in Bangalore or Hyderabad for Rs 50/sq ft. [...]
Private equit Investments soar 75% in realty, mutual funds shun sector on rising interest rates
KOLKATA/NEW DELHI: Private equity investments in India’s real estate projects have grown more than 75% over the past year, even as mutual funds and other investors have shunned this sector because of rising interest rates and falling revenues. Analysts say developers approach private equity players and are more amenable to negotiations during such downturns. That [...]
Chatwal group eyes expansion in hotel biz
Indian American Sant Singh Chatwal-led Hampshire Hotels & Resorts, on Monday, announced an aggresive brand building initiative in India, with the plan to open 52 hotels here in the next five years. The chain plans to expand its international hospitality brands Dream (a mid-size boutique hotel) and Night (a contemporary luxury property) globally, and in this [...]
MagicBricks.com presents Virtual Property Expo for NRIs
For the First time ever, MagicBricks.com, a leading real estate portal, is putting up a virtual property fair from November 28 to December 18, 2011, at IndiaCalling.MagicBricks.com. The virtual property expo has been organised for NRIs residing in the USA. At the India Calling – Virtual Property Expo, users can browse through the many projects [...]
Uproar in Parliament over Govt’s Decision to allow FDI in Retail
The Lok Sabha and the Rajya Sabha were adjourned till noon, minutes after the two Houses gathered on Monday, as a united opposition created uproar over government’s decision to allow FDI in retail. The opposition members were up on their feet shouting slogans against the government. In Lok Sabha, plea for calm by Speaker Meira [...]
