Hyderabad Developments
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Providing the information about the developments in Hyderabad and surroundings like Hyderabad metro rail project, outer ring road and expressway etc.
srinivass2023-08-16T10:42:38ZAP loses property worth over Rs 250 cr over Telangana issue
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=4279&blogId=563
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<p>
<span style="font-size: 10.5pt">As Andhra Pradesh boils over the Telangana
issue, public and private properties worth over Rs 250 crore were destroyed by
protesters in all the three regions of the state so far, government sources
said. Adding the loss caused to businesses because of the seemingly unending
spate of shutdowns in Telangana, the figure could be a few hundred crores of
rupees more. Of the total loss to properties, about 80 per cent was caused in
Telangana region alone where people demanding a separate state have been more
"violent," the sources said. As many as 52 public and 28 private
properties were burnt while 62 public and 114 private properties were damaged
in the violence that broke out in Telangana region from November 29 to December
9, after TRS chief K Chandrasekhar Rao began his indefinite fast demanding
separate statehood for Telanagana. </span>
</p>
<p>
<span style="font-size: 10.5pt">The agitations supporting a united state
recorded 37 public properties and 11 private properties being burnt and 46
public and 47 private properties damaged between December 10 and 23, statistics
compiled by the police reveal. The state-run Andhra Pradesh Road Transport
Corporation (APSRTC) bore the brunt of the strife with 35 buses being burnt and
another to 214 damaged. 50 private buses were also damaged and seven were set
on fire by Telangana protesters. Pro-Telangana groups went on a rampage and
damaged as many as 268 buses in the state capital and other districts of
Telangana region on a single day following the Centre's announcement on the
statehood issue on December 23. Besides, over 50 public and over 150 private
properties were also badly burnt or damaged in the second round of
"protests" in Telangana so far. </span>
</p>
<p>
<span style="font-size: 10.5pt">According to Transport Minister S Vijayarama
Raju, APSRTC suffered a loss of over Rs 110 crore since November 29. "These
are only bare estimates as the destructions are still continuing in Telangana
region," a top ranking bureaucrat said. The protesters also targeted
railway properties causing a loss of several crores of rupees due to burning of
four railway stations and other damages at various places in all the three
regions of Andhra Pradesh. The protesters damaged railway signalling panels and
equipments besides burning two bogies and pelting stones on two Express trains.
</span>
</p>
<p>
<span style="font-size: 10.5pt">"Apart from attacks on railway
properties in view of bandhs, rail rokos and demonstrations, railways are also
losing particularly due to non-transportation of goods and parcel which are
lying at different railway stations," a senior official of the South
Central Railway (SCR) said. The protesters did not spare telephone exchanges,
cell phone towers. They also set fire to optical fibre cables at a BSNL
warehouse in Anantapur causing over Rs 30 lakh loss. The number of persons who
ended their lives demanding Telangana state was three times higher in the region
with 18 persons resorting to the extreme step while six persons committed
suicide in support of unified Andhra Pradesh. As many as 82 persons tried to
end their lives for Telangana state while 49 attempted suicide in Andhra and
Rayalaseema regions, police sources said.</span>
</p>
<p>
<a href="http://www.maaproperties.com " target="_blank">http://www.maaproperties.com </a>
</p>General2009-12-29T10:52:05ZsrinivassRealty cos eye Rs 14k-cr from IPOs
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=4007&blogId=563
<span class="txt-blk2">
<p>
THE cash-starved <a class="news-link" href="http://www.maaproperties.com/" target="_blank">realty sector</a>
is sprinting to the market regulator Sebi to raise around Rs 14,000
crore or $3 billion in initial public offers (IPOs). At least seven
realty companies, including Lodha Developers, Sahara Prime city, Emaar
MGF and BPTP, have either filed the draft red herring prospectus (DRHP)
with Sebi since Friday or plan to do it on Wednesday. “Every company
intending to do an IPO is in a hurry to file DRHP, as any delay beyond
September 30 will force them to get their books audited again, which
might delay the whole process,” a banker handling one large realty
firm’s IPO said. The banker didn’t want him or his client to be named
for regulatory reasons. The audited balance sheet is valid for six
months for filing prospectus. In case the company files the DRHP after
six months of the annual report, it needs to incorporate audited
numbers for proceeding six month period. Indian stock markets have been
rallying this year with benchmark Sensex registering a gain of 75%
since January to close at 16,852 on Tuesday.
</p>
<p>
<a class="news-link" href="http://www.maaproperties.com/Pages/Hotproperties.aspx" target="_blank">Real estate companies</a>
have led India Inc in raising cash as the stock market slowly recovered
since the middle of the year. Several listed realty firms, including
DLF, Unitech, Indiabulls Real Estate, Sobha Developers and HDIL, went
in for successful qualified institutional placements (QIP) or promoter
stake sale raising over $2 billion. The ability of listed realty
players to raise funds gave privately-held firms the confidence to test
the primary market. It was the fall of realty firm Emaar MGF’s IPO
early 2008 that marked the beginning of the slump in the primary
market. Now Emaar MGF, a joint venture between Delhi-based MGF and
Dubai-based Emaar, plans to re-launch its IPO to raise 3,850 crore for
10% stake dilution. In addition, the promoter is also divesting 1.17
crore shares to mop up around Rs 400 crore. This means Emaar MGF is
looking at a valuation of Rs 38,500 crore, as against a valuation of Rs
70,000 crore last time round. It filed the prospectus on Tuesday.
Sahara Prime City, Lodha Developers and Kumar Developers too have filed
DRHP with Sebi on Tuesday. Delhi-based Ambience filed the prospectus on
Friday, while BPTP, Sriram Properties will likely file tomorrow. BPTP,
however, denied it was filing DRHP on Wednesday.
</p>
<p>
Sahara group’s
realty arm Sahara Prime City plans to raise up to Rs 3,450 crore
through initial share sale. Mumbai-based Lodha Developers plans to
raise Rs 2,700 crore, while Delhi-based BPTP and Ambience plan to raise
Rs 2,000 crore and Rs 1,100 crore respectively. Kumar Developers and
Sriram Properties expect to raise Rs 400 crore and Rs 600 crore
respectively. “We will use the IPO funds to retire high-cost debt, pay
for government licence fee for our land and in developing our
projects,” says Ambience chairman Raj Singh Gehlot. All listed realty
companies were quick to tap QIP route when markets improved because
they were the ones who were most leveraged. Now, again they are the
ones leading the IPO rush because of the same reason. Besides the need
to service huge debt, developers’ internal accruals too haven’t picked
up in a big way as home buyers are only slowly returning to the
property market and retail and office segment remains subdued. Some of
the developers are also under pressure from private equity funds, which
earlier invested in those companies, to go public as it would give
funds exit route.<a href="http://www.maaproperties.com" target="_blank">http://www.maaproperties.com</a>
</p>
</span>General2009-10-03T13:14:10ZsrinivassHMDA gearing up for plots auction
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3977&blogId=563
<span class="txt-blk2">
<p>
Two
multi-national real estate firms—CB Richard Ellis (CBRE) India and
Cushman & Wakefield Pvt Ltd—have signalled the end of realty slump.
With this, Hyderabad Metropolitan Development Authority (HMDA) is
preparing ground to restart auction of plots in the vicinity of the
city. However, upset price of some land parcels might be pegged down
and in some areas it might be increased. The HMDA is finalising dates
for auction. According to HMDA sources, the auctions might take place
in mid-October. The previous auction was held February last. The HMDA
had appointed these two multi-national real estate firms two months ago
for valuation of various land parcels and leftover plots in its
jurisdiction after receiving poor response from bidders to its previous
auctions.
</p>
<p>
The HMDA had asked the two firms to do valuation of
leftover plots and land parcels located at Nallagandla Residential
Complex and its extension layout, Miyapur Residential Complex and its
extension layout, Ramchandrapuram (Chandanagar) Mushk Mahal Residential
Complex, HUDA Techno Enclave , Madhapur sector I and II, Tellapur
Residential Complex, Nandagiri Hills layout phase-I, Asifnagar new
layout, Asifnagar (old) Residential Complex and Vanasthalipuram Complex
and also HADA land in July. A report, which was submitted by the two
firms, has mentioned that the real estate has now picked up in the
city. “We can cash in on rising realty sector if auctions are conducted
as early as possible,” a senior HMDA official told ‘TOI.’ “The HMDA has
fixed the responsibility of conducting auction on CBRE and Cushman
& Wakefield. For this, the HMDA will give 0.33 per cent as success
fee on each plot,” the official said. The firms would contact real
estate companies in cities like Bangalore, Delhi and Mumbai and invite
them to visit locations prior to the auction. The firms would explain
to the <a class="news-link" href="http://www.maaproperties.com/Pages/Hotproperties.aspx" target="_blank">real estate companies</a>
based on four parameters, including strength, weakness, opportunity and
threats (SWOT). “If the companies agree for buying land/plots, then
auction will be conducted, he added.for more information log on to <a href="http://www.maaproperties.com" target="_blank">http://www.maaproperties.com</a>
</p>
</span>General2009-09-18T12:06:35ZsrinivassGHMC to build 600 houses on Hussainsagar bed
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3886&blogId=563
<span class="txt-blk2">
<p align="justify">
Despite
clear orders from court against putting up permanent structures on the
Hussainsagar lake bed and catchment areas, the Greater Hyderabad
Municipal Corpor at i o n (GHMC) has proposed to construct 600 houses
in the restricted area. A <a href="http://www.maaproperties.com/Pages/Hotproperties.aspx" target="_blank">housing project</a>, proposed by the corporation,
would come up near Prasads on the Hussainsagar lake area. A month ago,
chief minister Y S Rajasekhara Reddy had directed the GHMC to construct
houses for weaker sections under the Jawaharlal Nehru National Urban
Renewal Mission (JNNURM) scheme replacing slums abutting the lake. The
slums-BJR Nagar, Mahabharat Nagar, Budagajangambasthi and other slums
on about four acres-had come up on the encroached land a few years ago.
Since there is no government land left in the city and residents of
these areas have been demanding houses, the CM asked officials to
construct houses at the same place. The officials have also proposed to
accommodate some other beneficiaries along with the local residents.
Under JNNURM, each house costs about Rs 2.67 lakh. While the
beneficiary has to contribute Rs 5,000, the rest is being provided as
bank loan, state government and the Centre's contribution under the
JNNURM scheme.
</p>
<p align="justify">
Since the land belongs to the
revenue department, the GHMC has asked the district collector to hand
over the land. GHMC special officer and commissioner SP Singh on Monday
held a meeting with the district collector. But the revenue officials
informed that the proposed land was part of tank bed of Hussainsagar.
The Hussainsagar was originally a sprawling 1,300-acre lake, but after
encroachments and illegal constructions it has shrunk to a mere 900
acres. But, the municipal authorities want to go ahead with the project
by seeking the opinion of the advocate general.
</p>
<p align="justify">
"Already,
there are G+3 houses in the Hussainsagar lake area. Also, it is far
from the actual lake. However, we will take the opinion of the advocate
general on the issue," GHMC engineer-in-chief P Panduranga Rao told
TOI. Environmentalists have been opposing encroachment and
constructions on the lake bed. In 1995, a public interest litigation
was filed by KL Vyas of Save the Lake Campaign demanding protection of
170 lakes in the city, including Hussainsagar. In 2000, Forum For A
Better Hyderabad approached court against encroachments around the
lake. The AP High Court directed the state government to stop
construction of any permanent structure on or near the water body or
the catchment area of the lake. The Supreme Court also appointed a
three-member committee headed by former IAS officer R Rajamani on the
encroachment of the lake and other related issues. Ironically, a House
committee was also constituted on land allotment to Prasads near the
lake area. Despite this, the GHMC wants to take up the project as it is
the ‘wish' of the chief minister.
</p>
</span>General2009-08-20T14:26:45ZsrinivassLong wait ahead for METRO
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3781&blogId=563
<span class="txt-blk2">Work on metro
rail will now start only in 2010, that too if the bidding process goes
as planned by the government. The ‘dream' of metro rail as was shown to
denizens over the last couple of years included swank trains and
world-class stations at a distance of one kilometre each offering
air-conditioned connectivity on three different routes connecting the
city's opposite ends. Meant to be operational by 2012, it now would be
a longer wait for commuters to zip on the metro.<br />
<br />
The fresh bids
announced by the government with Reliance Energy at the forefront has
officials giving an optimistic timeline for project execution as
year-end. However, industry experts said that it could take much longer
for the 71-km,three-corridor project to take off or even get completed.
Going by the original plan of the Hyderabad Metro Rail,it would connect
Miyapur with LB Nagar, touching 27 stations in 45 minutes, Secunderabad
with Falaknuma, touching 16 stations in 22 minutes and Habsiguda with
Shilparamam, touching 20 stations within 36 minutes. The maximum demand
for this service is from the L B Nagar-Miyapur corridor, since this
track would not only be the longest but also cover high density
stations. Each train, as per the original plan, is meant to have six
coaches with a capacity to carry 2,068 passengers per trip. The trains
are meant to operate at a frequency of three to five minutes. A
detailed project report done by Delhi Metro Rail Corporation for
Hyderabad metro had projected 16 lakh passengers per day, within one
year of the metro rail becoming operational in the city. The projected
traffic after ten years is 24 lakh. However, industry experts
particularly those representing the other consortium who are not
interested in the bidding process this time, have said on various
occasions that the traffic estimate could be an impractical
expectation. They said that the project needed a more realistic traffic
estimate to understand its viability.<br />
<br />
As per "manual of
specifications" of the <a href="http://www.maaproperties.com/Pages/HyderabadRealestate.aspx" target="_blank">Hyderabad metro</a>, it is meant to have features
such as CCTV cameras, energy saving measures and automatic train
operation where only a driver can start the train and operate its
doors. Going by the original plan, Hyderabad would have the
internationally accepted ‘standard gauge' for its metro rail. Detailed
technical specifications such as track structure, curvatures and
gradients, coach design, seating, interiors, airconditioning, noise
limits and other specifications were finalised last year itself.<br />
<br />
Reliance
Energy, the front runner in the bidding process, is also developing
Mumbai's metro rail along with Mumbai Metropolitan Region Development
Authority.Among the other bidders of last year, Reliance Energy is the
only one going aggressive on this deal. It is learnt, that Reliance
Energy has even sought some changes in the conditions laid out in the
metro rail agreement by the state government here. Reliance had asked
for a grant of Rs 2,811 crore in its bid last year to develop the
project. </span>General2009-07-14T17:31:19ZsrinivassORR project faces cash crunch in Hyderabad
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3718&blogId=563
<span class="txt-blk2">
<p align="justify">
Though
the Hyderabad Metropolitan Development Authority (HMDA) claims Outer
Ring Road (ORR) Phase II-A will be completed by May, 2010, the ORR
project officials are struggling to pay Rs 180 crore towards land
compensation to farmers in villages abutting both Phase II-A and Phase
II-B areas. About 100 acres of land was acquired for ORR phase II-A
between Narsingi and Patancheru and Pedda Amberpet and Shamshabad in
villages like Tukkuguda, Poppalguda, Koheda and Narsingi last year. But
the land owners are yet to get compensation from the government. For
instance, 18 acres of land was acquired from 20 farmers last year.
However, they are awaiting their payout still. "Farmers of Tukkuguda
village first did not give consent to HMDA for the land acquisition and
general award was passed by the officials. Later, they gave consent
since they got more money under government package. The balance amount
has to be paid to the farmers," ORR special deputy collector K
Satyanarayana said.
</p>
<p align="justify">
Similarly in Koheda, Narsingi
and Poppalguda villages, the HMDA has to pay compensation to farmers.
At places like Poppalguda, some farmers and owners approached court.
Even if the court gives verdict in favour of HMDA, the ORR project is
not in a position to make payments. "Of 100 acres of the land
acquisition, procedures were completed and award was passed for nearly
80 acres. Compensation has to be paid and possession of land has to be
taken," a senior ORR official told TOI. Similarly, on the
Patancheru-Pedda Amberpet stretch of Phase II-B, land acquisition has
to be completed between Shamirpet and Ghatkesar.
</p>
<p align="justify">
The
HMDA used to provide funds for the ORR project by way of auctioning
government land. But it has stopped transferring funds to ORR since
November 2008 as it has been facing problems in mobilising funds due to
slowdown in the <a href="http://www.maaproperties.com/Pages/HyderabadRealestate.aspx" target="_blank">real estate sector</a>. Of 6,500 acres of land required for
ORR, nearly 6,000 acres has already been acquired. So far, about Rs 600
crore compensation has been paid since beginning of the project.
Another Rs 300 crore would be required to complete the acquisition
process. The state government received Rs 112 crore from the Japan
International Cooperation Agency (JICA) as part of first instalment of
Rs 3,000 crore loan for Phase II-B of ORR from Patancheru to Pedda
Amberpet. When the officials requested the finance department to
release the amount, it has not released the amount yet.
</p>
</span>General2009-06-22T17:27:35ZsrinivassORR project faces cash crunch in Hyderabad
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3713&blogId=563
<span class="txt-blk2">
<p align="justify">
Though
the Hyderabad Metropolitan Development Authority (HMDA) claims Outer
Ring Road (ORR) Phase II-A will be completed by May, 2010, the ORR
project officials are struggling to pay Rs 180 crore towards land
compensation to farmers in villages abutting both Phase II-A and Phase
II-B areas. About 100 acres of land was acquired for ORR phase II-A
between Narsingi and Patancheru and Pedda Amberpet and Shamshabad in
villages like Tukkuguda, Poppalguda, Koheda and Narsingi last year. But
the land owners are yet to get compensation from the government. For
instance, 18 acres of land was acquired from 20 farmers last year.
However, they are awaiting their payout still. "Farmers of Tukkuguda
village first did not give consent to HMDA for the land acquisition and
general award was passed by the officials. Later, they gave consent
since they got more money under government package. The balance amount
has to be paid to the farmers," ORR special deputy collector K
Satyanarayana said.
</p>
<p align="justify">
Similarly in Koheda, Narsingi
and Poppalguda villages, the HMDA has to pay compensation to farmers.
At places like Poppalguda, some farmers and owners approached court.
Even if the court gives verdict in favour of HMDA, the ORR project is
not in a position to make payments. "Of 100 acres of the land
acquisition, procedures were completed and award was passed for nearly
80 acres. Compensation has to be paid and possession of land has to be
taken," a senior ORR official told TOI. Similarly, on the
Patancheru-Pedda Amberpet stretch of Phase II-B, land acquisition has
to be completed between Shamirpet and Ghatkesar.
</p>
<p align="justify">
The
HMDA used to provide funds for the ORR project by way of auctioning
government land. But it has stopped transferring funds to ORR since
November 2008 as it has been facing problems in mobilising funds due to
slowdown in the real estate sector. Of 6,500 acres of land required for
ORR, nearly 6,000 acres has already been acquired. So far, about Rs 600
crore compensation has been paid since beginning of the project.
Another Rs 300 crore would be required to complete the acquisition
process. The state government received Rs 112 crore from the Japan
International Cooperation Agency (JICA) as part of first instalment of
Rs 3,000 crore loan for Phase II-B of ORR from Patancheru to Pedda
Amberpet. When the officials requested the finance department to
release the amount, it has not released the amount yet.
</p>
<p align="justify">
For more real estate information visit <a href="http://www.maaproperties.com " target="_blank">http://www.maaproperties.com </a>
</p>
</span>General2009-06-18T17:10:46ZsrinivassMaytas Infrastructure may divest some projects
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3628&blogId=563
<span class="txt-blk2">
<p>
To raise
funds to complete other assignments; board to formally approve
corporate debt restructuring A two-day board meeting of Maytas
Infrastructure’s six-member new board, which comprises four
government-nominees, is likely to divest some projects nearing
completion in a bid to raise funds to complete other assignments.The
projects will be selected in consultation with a six-member project
management committee that the board appointed on April 17 after the
company proposed a corporate debt restructuring (CDR) exercise. The
board meeting, which began today, is also expected to formally approve
the CDR. The project management committee comprises two
government-nominated directors, Anil K Agarwal and Ved Jain, two
nominees from Infrastructure Leasing & Financial Services Ltd
(IL&FS) and one each from State Bank of India (SBI) and ICICI Bank,
both large lenders to the company. The board meeting is taking a “360
degree evaluation approach” for each of the projects that are either in
different stages of implementation or looking for financial closure,
sources in the company said. The company is implementing around 40
projects. Asked about the exercise, a company spokesperson said the
board "is evaluating every project". Declining to discuss details, he
said the company would make appropriate disclosures after the meeting.
</p>
<p>
Maytas
Infrastructure is a listed company promoted by the family of Satyam
Computers founder Ramalinga Raju, who confessed to inflating profits in
January this year. The company was one among two unlisted Maytas
Properties being the other that Satyam proposed to acquire for Rs
8,000 crore in December last year. The proposal was dropped after
strong shareholder protest, an issue that led to Raju’s confession.
Maytas Infrastructure, which won the bid for the Hyderabad Metro by
suggesting it would fund the project from adjacent <a href="http://www.maaproperties.com/Pages/Hotproperties.aspx" target="_blank">real estate
projects</a>, carries around Rs 4,000 crore of debt on its books. This
includes around Rs 2,000 crore on its own books and another Rs 2,000
crore on the books of various special purpose vehicles created for
specific projects.
</p>
<p>
SBI and ICICI have an exposure of around Rs
800 crore each and IDBI Bank Rs 350 crore. Another 16 banks have a
combined exposure of around Rs 2,000 crore, sources in the banking
sector said. The Maytas CDR exercise differs from other companies in
that it is the government-appointed directors that recommended the
move, after discussions with lead lenders. Sources said the board is
likely to appoint SBI Capital Markets advisors to the CDR exercise.
Referring to the CDRs became necessary when bank guarantees were
invoked after Maytas could not meet various commitments. Since these
guarantees were unsecured, banks are now asking for collateral. “In the
given situation, all the lenders are seeking a pari pasu charge on all
assets, which is a big challenge for the company and also for the
banks,” sources close to the development said. Once the company is
referred to the CDR, the board plans to request banks for a working
capital loan. “We need around Rs 500 crore to keep the company afloat,”
said a senior board member on condition of anonymity.
</p>
</span>General2009-05-01T16:22:49ZsrinivassNew Industrial Park Policy hits developers hard
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3621&blogId=563
<span class="txt-blk2">
<p>
<a href="http://www.maaproperties.com/Pages/Agents.aspx" target="_blank">Real
estate developers</a> across the country are planning to challenge the
government’s move to dilute portions of a scheme launched in 2002 that
granted 100% tax exemption for 10 years to those who built industrial
parks. Firms in Chennai, Pune, Mumbai, Hyderabad and other cities are
planning to move the court in their respective cities saying that the
government has changed rules midstream well after they have signed
deals with prospective clients.
</p>
<p>
Even though the cases were duly processed and report from the
various state governments were received, the fully processed
applications have been returned to the applicants after a lapse of 33
months with a request to the applicant to file fresh applications to
CBDT, Ministry of Finance. The Department of Industrial Policy and
Promotion is well aware that not even a single application returned
will qualify for IT exemption under newly announced Industrial Park
Policy 2008, developers across the country contend. The amended scheme,
the ambit of ‘industrial activity’ has been expanded to include
research and development on natural sciences and engineering,
development of computer software and ITeS. The CBDT had notified the
original scheme on January 8, 2008. It had excluded IT from the ambit
of the scheme. These sectors have been added after the intervention of
the PMO at the behest of DIPP. It is same for the minimum floor area
which had been enhanced earlier. Many of these builders/developers had
applied under the Industrial Park Scheme (IPS) of 2002 which granted
tax exemption under Section 80 IA of the Income Tax Act. The scheme had
stipulated that each industrial park should have three tenants and
comprise an area of 15,000 sq m.
</p>
<p>
But the new policy announced and notified in 2008, the rules have
been changed to include 30 tenants and a minimum area of 50,000 sq m.
“Now it is very difficult for them to create infrastructure facilities
for an additional 27 units. It is also very difficult to have 27
multi-national tenants in the IT parks and also the applicant companies
have already entered into MOUs with MNCs to lease the premises at lower
rental values keeping in view the Income Tax Exemption U/s 80 IA,”
Manoj Bang, consultant with the Hyderabad-based Aditya Group of
Consultants, told ET. Some builders ET spoke to said it is impossible
to arrive at these kind of tenant numbers in a single park. They also
objected to the clause that a single tenant occupancy must not to
exceed 25%.
</p>
<p>
Bangalore-based Silverline Industries, another developer, has
already filed a petition with the Mumbai high court against the
government’s move. Applications filed under the IPS 2008, would be
considered favourably provided the parks had been operating in April 1,
2006 to March 31, 2009 time frame, they added. The commerce ministry
has formally rejected 327 of the 433 applications for reasons that are
not clear. A senior commerce ministry official declined to comment on
the issue. “While developers are getting affected, we have been told by
authorities that due to elections, no policy decision would be taken.
However, the government has been receptive and we have received a
positive sign that gives the assurance that our needs would be
addressed,” Confederation of Real Estate Developers’ Associations of
India (Credai), president Santosh Rungta, on an optimistic note.
Despite the view that developers may wait for elections to end to
“re-present” their case to the power corridors, Credai VP Prakash
Challa says many of the developers in Chennai have decided to
individually file their writs as the association did not have a locus
standi to take up this matter. Later this week, a batch of petitioners,
in their individual capacity, are planning to file cases. Some of the
names of them include — Khivraj, Acropolis, ECCI Tech Park, Appaswamy
and SSPDL.
</p>
</span>General2009-04-28T17:53:56ZsrinivassHow to understand Investing into Real Estate
http://blogs.fullhyderabad.com/showblog.php?op=ViewArticle&articleId=3552&blogId=563
<span class="txt-blk2">
<p align="justify">
Today many people are investing in <a class="news-link" href="http://www.maaproperties.com/hp/Chandra/sreechandra.aspx" target="_blank">real estate</a>
and it has become a popular trend. Why is this happening? Real estate
is one of the fast-growing sectors since there is a great demand for
it. There are large opportunities for making money if you <a class="news-link" href="http://www.maaproperties.com/hp/hiteccity/rainbowvistas.aspx" target="_blank">invest in real estate</a>.
More and more sensible persons are taking an interest in making real
estate investments because owning property affords a sense of security.
</p>
<p align="justify">
<strong>Pros and Cons of Real Estate Investments</strong>
</p>
<p align="justify">
You
need to learn how to understand investing into real estate. For this
you need to understand its pros and cons. For many years, real estate
values have been increasing at a steady rate. If you buy any property
then that means a low-risk investment. Learn about the advantages as
well as disadvantages of making real estate investments.
</p>
<p align="justify">
<strong>Advantages</strong>
</p>
<p align="justify">
Real
estate gives you the power of making long-term investments. Thus, even
after you retire you will have a property and you can get funds from it
as well. You can make money from it by renting it out. Thus, it would
provide a good source of income.
</p>
<p align="justify">
<strong>Helpful in Getting Loans</strong>
</p>
<p align="justify">
When
you plan to invest in some other things, you will be able to get a loan
faster from any lender if you own a property. Suppose you want to buy
another home or car, the property will act as security.
</p>
<p align="justify">
<strong>Negative Sides</strong>
</p>
<p align="justify">
Now
you should also be aware of the negative sides of making investments.
By chance if the real estate market goes down then you may be in
trouble. However, when the prices go up again, you will be able to make
up for the loss.Sometimes when you decide to sell your property and
need money fast then you may not be able to get the desired price for
it. Owing to certain circumstances you may have to sell it for a lower
price or for a loss. Therefore you have to understand both sides of the
coin.
</p>
</span>General2009-04-02T17:39:53Zsrinivass