Urban plan for a jam-free Gurgaon
GURGAON: The Haryana government, it seems, is finally learning from its past mistakes. On Tuesday, while approving the revised Gurgaon-Manesar Urban Complex Plan, the state government also approved a plan to construct 60-meter wide roads with 50-meter green belt on the periphery of upcoming sectors.
Not just that. To check haphazard and unauthorized development, the government has decided that all major roads will get a 50-metre wide green belt, and 200-metre wide institutional belt along them will be exclusively reserved and developed by government or semi-government organizations.
India Launches Project to ID 1.2 Billion People
India’s vaunted tech savvy is being put to the test this week as the country embarks on a daunting mission: assigning a unique 12-digit number to each of its 1.2 billion people.
The project, which seeks to collect fingerprint and iris scans from all residents and store them in a massive central database of unique IDs, is considered by many specialists the most technologically and logistically complex national identification effort ever attempted. To pull it off, India has recruited tech gurus of Indian origin from around the world, including the co-founder of online photo service Snapfish and employees from Google Inc., Yahoo Inc. and Intel Corp.
Now, space for play in residential zones
GURGAON: Commercial recreational facilities like clubs, community centres, swimming pools, badminton, tennis and squash courts, joy-rides or water-parks etc could now come up in residential areas. The Haryana government on Tuesday decided to allow the change of land use (CLU) for these activities in zones earmarked for residential and open space and green belts.
Framed under the Punjab Scheduled Roads and Controlled Areas Restriction an Unregulated Development Act, 1963, the policy is applicable with immediate effect.
REAL ESTATE BEGINS TO ATTRACT THE RICH AGAIN
Pramit Bhattacharya & Madhurima Nandy
India’s high networth individuals (HNIs) allocated a smaller share of their investments to real estate in 2009, but analysts say HNIs are showing renewed interest in property this year while maintaining caution. Concerns of a bubble in the sector, delays in project execution and a glut in commercial property contributed to risk aversion and spooked wealthy investors last year.
“In 2009, Indian HNIs became wary of the real estate bubble as the premium property prices didn’t correct much and dropped their allocation by 3 percentage points to 22 percent,“ said Atul Singh, who heads the Indian arm of the wealth management unit of DSP Merrill Lynch Ltd. Singh spoke at the release of the Capgemini-Merrill Lynch Asia-Pacific wealth report 2010 on Tuesday. HNIs are those with at least $1 million in investable assets.
PE FIRMS LOOK TO INVEST UNUSED CASH IN REALTY
Early this month, Singapore’s sovereign wealth fund hired Kishore Gotety, former executive at Deutsche Bank AG’s RREEF Alternative Investments division, to oversee its real estate investments in India. The hiring by the Government of Singapore Investment Corp. (GIC), as the fund is known, was not an isolated instance. Two other private equity firms have made similar moves in the recent past.
Private equity firms that have traditionally avoided investing in real estate have started evincing interest in the space because they are finding it difficult to deploy the huge pile of cash they are sitting on. Real estate investment is attractive because of the potentially high returns it offers.
THE DESTINATION NEXT
The last one-decade has seen remarkable growth and development in the NCR. Be it residential, educational or industrial sector, several areas in NCR are gaining an upward momentum. While talking about industrial development in NCR, one area that occupies the prime place is the Kundli-Rai Industrial belt. It has fast become a commercial and industrial hub in the region and offers a promising future for the new age entrepreneurs.
The geographical advantage of the Kundli-Rai Industrial belt provides it a unique place and a large number of medium and small scale industries are located here. Rai industrial estate is spread over around 560 acres of land and has Technology Park, Food Park besides other industries. In the Rai-Kundli Multi-functional Complex Export Promotion Industrial Park (EPIP), Food Park and Cold Chain Complex have been developed by HSIIDC. Several industries here are known for their quality like Brij & Co., who are pioneers in customized apparel and Swiss water storage tanks manufactured by Unitex Plastics Pvt. Ltd. With the expansion of the industrial zone and setting up of the National Institute of Food and Technology Entrepreneurship and Management (NIFTEM) and a proposed warehousing hub it will provide a boost to the entrepreneurial activities in the near future. “There are tremendous growth opportunities in this belt because of its strategic location and the absolutely no problems related to availability of labour and law and order in this part of the NCR. What we need to do is to improve upon the existing resources,” says Dr. Ravindra Goel, General Secretary, Kundli Industries Association (KIA).
Related Articles: Big relief coming for Faridabad, Noida commuters