Mohali – IREO has launched Plots

Ireo has launched plots in Sector 98 Mohali.

Features include:

  • Community Club at the premises
  • Convenient shopping nearby – proposed development and construction of shops and retail in the vicinity
  • Two landscaped plazas with active zone for children & elderly
  • All inner road network, pavements, sidewalks, trails, light fixture and street furniture designed as per unified standards.
  • 90% of plots are Vastu compliant (not facing south)
  • Sports facilities including basketball half court, tennis court
  • Tree lined avenues with ample visitors car parking

Size: 250 sqyd
Rate: RS.25000 per sqyd (BSP), 10% booking amount.

EDC, PLC, Club membership charges extra
Offer is good through February 26, 2011. LIMITED STOCK! FIRST COME FIRST SERVE BASIS. For booking information, please contact us at homes@ireo.in or 877-770-4736.

Gurgaon: Jobs!

1,000 JOBS UP FOR GRABS AT CITY FAIR
Times of India

GURGAON: Nearly 1,000 jobs will be up for grabs at a one-day job fair on March 4.

The event, which is being organized by the administration, will be held in John Hall in the old city and top 50 companies from Gurgaon will hire candidates for various job profiles.

The details of the fair were finalized during a meeting chaired by V S Hooda, additional deputy commissioner, on Wednesday.

Real Estate Sector

BUDGET 2011: EXTEND A HELPING HAND TO THE REALTY SECTOR THAT EMPLOYS MANY ; SAYS PRASHANT SOLOMON , MD, CHINTELS INDIA
Economic Times

As the nation awaits the Budget for FY 2011-2012, the real estate sector is eagerly looking forward to certain reforms and amenities that will help spiral its much needed growth. The existing Taxation laws have room and scope for much improvement. By considering these incentives for the sector, the government will be adding a well needed boost to a sector that has given much to the nation in the form of employment, infrastructure and shelter, but has not got much in return so far.

Apart from tax incentives, there are other factors that the government should consider for the real estate sector. The first related to the amount of interest on housing loans that is exempted from tax. The current rules allow 1.5 lakh rupees exemption, this should be raised to 3 lakh rupees to make house buyers feel less of the taxation heat. Real estate is also plagued by being levied both sales tax and service tax. This anomaly should be abolished and a single tax should be levied instead. It should be an either/or situation and not a both situation.

Infrastructure

INFRASTRUCTURE A SIGNIFICANT THEME FOR THE NEXT FEW YEARS TO COME
Mint

As individuals, we tend to introspect around birthdays and other significant personal occasions, or around the year end; as a country, an impending budget tends to serve as a catalyst for stock taking. Reflecting on the Indian financial services landscape as we approach the 2011 edition of the budget, there are a few aspects which in my mind warrant comment.

A significant theme for the next many years to come will be India’s infrastructure needs and the investment that this will require. The 12th Five-Year Plan (2013-17) projects an infrastructure spend of over $900 billion (Rs.40.7 trillion), averaging around 10% of gross domestic product (GDP) in each Plan year. Projections suggest that India will experience a funding gap of approximately $285 billion, of which over $200 billion will need to be funded by way of debt. Bridging this gap will require a number of policy initiatives. The domestic bond market needs to be deepened and strengthened, and banks, infrastructure non-banking financial companies (NBFCs) and insurance companies should be enabled to direct funds whether by way of investments or lending to infrastructure projects more efficiently and effectively.

INVESTMENT IN INFRA HAS BOOSTED GDP GROWTH: GOVERNMENT
Financial Express

The government today said that increased investment in the infrastructure sector has spurred the GDP growth rate of the country and various committees have been set up to further boost spending on these activities.

In a written reply to the Lok Sabha, Minister of State for Planning and Parliamentary Affairs Ashwini Kumar said that investment in major infrastructure sectors is projected to grow by over two-fold during the ongoing Eleventh Five-Year Plan (2007-12) in comparison to the Tenth Plan (2002-07).

“Increased investment in infrastructure has resulted in a higher growth of GDP of 8 per cent in 2009-10 at constant (2004-05) prices,” he said.

Health Care Sector

I’LL WORK OUT A SCHEDULE TO CONSTRUCT 13 HOSPITALS
Hindustan Times

Three days after taking charge, Delhi health minister Dr AK Walia tells HT how he plans to make the city healthier.

What are your priorities in your second stint as health minister?
We have land for 13 hospitals, and I will soon work out a schedule for their construction. I want to build a super-specialty hospital for lifestyle disorders. In the GTB hospital, I plan to create a centre dedicated to diabetes.

The existing dispensaries will be upgraded and new ones will be added. There will be an efficient biomedical
waste management system in place in all hospitals. More ambulances will be provided; the ambulance deal with Fortis is also being scrutinised.

Why has hospital infrastructure not improved despite increased budgetary allocation?
Building infrastructure takes time. In my last tenure, we had started in-patient facility in 12 hospitals. This time, I want to improve our blood banks. We’ll also formulate policies for the radiology and pathology departments in all the hospitals, which will also have the CT scan facility. We’ll also make MRI available in bigger hospitals. Special emphasis will be laid on strengthening mobile and school health schemes.

How will you ensure better coordination among agencies?
I’m used to coordinating with multiple agencies. For vector-borne disease control, we’ll ask the MCD and other civic agencies to fix area-wise responsibility.

Those not doing their work properly will be punished. There is also the problem of water-borne diseases. Many cases of jaundice, cholera, gastroenteritis and even hepatitis are coming in due to poor water supply. There could also be resource sharing between government and private blood banks.

Apollo’s Expansion

APOLLO SEEKS NOD FROM 2 STATES TO SET UP FOUR MEDICAL COLLEGES
My Digital Financial Chronicle

Apollo Hospitals has approached Tamil Nadu and Andhra Pradesh state governments seeking permission to set up four medical colleges in these states. The company wants education to evolve as another business vertical.

Apollo proposes to have medical colleges in Chennai, Madurai, Hyderabad and Chittoor. “We have land in all these places. The hospital has sought clearance from the respective state governments. Once we get the no objection certificate from them and then the approval of the Medical Council of India, we will be able to start construction in the sites,” Preetha Reddy, MD of Apollo Hospitals told FC.

Apollo may rope in Malaysian sovereign fund Khazanah Nasional, which holds 70 per cent stake in International Medical University of Malaysia.

APOLLO TO DOUBLE HOSPITAL COUNT, INVEST RS 2,000 CRORE
My Digital Financial Chronicle

Apollo Hospitals plans to double its count to 100 in the next five years with an investment of around Rs 2,000 crore.

Sangita Reddy, executive director (operations), Apollo Hospitals Group, told Financial Chronicle that though the company took around 27 years to touch the 50 hospitals mark, it plans to add the next 50 in five years. The chain will invest around Rs 1,400 crore in the first three years of development, and another Rs 600 crore in the next two, she said.

In the first phase, a joint venture partner will spend around Rs 200 crore, while the remaining Rs 1,200 crore would be funded by Apollo Hospitals. “Of our contribution, we have already spent around Rs 300 crore through internal accruals. The remaining Rs 900 crore will be funded through a mix of debt and equity,” she said. The company has received the shareholders approval to raise Rs 600 crore through qualified institutional investors.

APOLLO HOSPITALS TO RAISE RS 900 CRORES FOR EXPANSION
The Hindu Business Line

Apollo Hospitals group will raise Rs 900 crore, including Rs 600 crore from QIPs (Qualified institutional placement) and Rs 300 crore through convertible debt instruments. Part of the proceeds will go to expand the hospital network to 15 tier-II and tier-III cities in the next two years.

“We are going to add 3,000 beds in the next two financial years. We have identified land in some locations such as Nashik in Maharashtra. We have added 1,800 beds in the last two years,” Dr Prathap C Reddy, Chairman of the hospital chain, told Business Line.

The company has received the nod from the board to raise funds for the expansion plans. Last month, promoters bought back about 2.5 per cent in the equity. At present, the group has 8,400 beds.

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