The Economic Times (Delhi edition)
While Indian economy grows at a fast pace, it is cities like Bhiwadi which are contributing big time to the growth story. Today, Bhiwadi bears the mark of the most advanced planning and stands ahead of many in every sphere.
With property prices soaring high, enhanced buying capacity, enormous vertical growth and rapid increase in investment in land, the real estate market in Bhiwadi is booming. Bhiwadi is witnessing a sustained real estate demand, which has augmented the entry of many real estate giants. The construction and development of several world class townships and housing projects across the city, are the testimony to the huge upswing in the real estate market of Bhiwadi. The boom in this sector is also more than evident in the sharp rise in property rates and the massive increase in investment in the sector.
Improved quality of real estate developments has also benefited owners, occupiers and investors alike.
Airport Line to be extended up to Gurgaon
The Asian Age
The high-speed Airport Express Line will be extended up to Gurgaon providing a faster link to the people of the capital to reach the satellite city, Delhi Metro chief E.
Sreedharan said here on Tuesday. The 14-km link connecting the Indira Gandhi International Airport with Gurgaon will be part of the Phase-III and is likely to be implemented through the Public-Private-Partnership (PPP) model. Though a final decision has not been taken on who will execute the project, Dr Sreedharan gave hints that the Reliance Infra-led consortium could be awarded the contract.
Work on Hyderabad Metro rail to start within a month
The Hindu Business Line
L&T Hyderabad Metro Rail, a subsidiary and a special purpose vehicle of the L&T Infrastructure Development Projects, which recently wrapped up financial closure for the Rs 15,000-crore Hyderabad metro rail project, will start construction work within a month. “We will start handing over land to L&T in fifteen days time in a phased manner and the actual construction work could start in a month’s time,” N.V.S. Reddy, Managing Director, Hyderabad Metro Rail Ltd, a Government of Andhra Pradesh enterprise, said.
Metro phase-3 work from next month: Sreedharan
Jyoti Rai, New Delhi
On Delhi Metro’s 17th foundation day today, Delhi Metro Rail Corporation (DMRC) managing director E Sreedharan said that to recognising the past achievements, the DMRC team was now gearing up for the construction of the Phase III Metro which was most likely to begin next month. Dr Sreedharan said the contract for the Mandi House-Central Secretariat line had already been given and the contractor should ideally begin the work on the corridor within the next month or so.
Push PPP model to build infrastructure, says ADB
Development finance institutions should encourage greater use of risk-sharing models like public-private-partnerships (PPP) to build critical infrastructure in developing countries, panelists at the Asian Development Bank (ADB) meeting said here today. The recent global financial crisis has reduced the risk appetite of the private sector, especially for investing in emerging markets, ADB Vice President for Private Sector and Co-financing Operations Lakshmi Venkatachalam said.
Punjab plans IT park near Mohali
The Hindu Business Line
An information technology park would be set up near upcoming international airport at Mohali, the Punjab Deputy Chief Minister, Sukhbir Singh Badal, said on Tuesday. Presiding over a function here, he said Punjab, which could not reap the fruits of the first IT revolution, is all set to emerge as a champion in the second phase. He said that besides the IT Park in Rajpura, another one had been planned in Mohali and the government was in touch with IT majors like TCS, Wipro and Infosys, who had evinced keen interest in the project.
Real Estate Sector
Buying a new home will become more expensive with banks set to hike lending rates by a quarter to half a percentage point after the Reserve Bank of India (RBI) raised key policy and savings rates on Tuesday. For existing home loan borrowers, too, rates will go up by the same extent. HDFC will take a view on the lending rate next week. “We will evaluate the cost of funds and see how interest rates move up across the board and take a call sometime next week. Overall, for the banking system, we expect interest rates to go up at least by 25 bps,” said HDFC’s CEO and MD Keki Mistry.
Oriental Mandarin keen on managing second Oberoi Hotel in Mumbai
Kailash Babar, Mumbai
The Economic Times
One of the world’s top hospitality chain, Mandarin Oriental, is in talks with newly-listed Oberoi Realty to set up its first hotel in India. If the deal goes through, the hotel chain will manage the latter’s proposed second luxury hotel at Worli in Mumbai, persons close to development said. The home and commercial property developer’s current partner Starwood Hotels and Resorts, which manages and operates its first hotel The Westin at Goregaon, is also keen on managing the Worli hotel. Now Mandarin Oriental has also entered the fray. Apart from the management contract for the luxury hotel, Mandarin may also be engaged for managing 200 branded residences that will be part of the 3.1 million sq ft mixed-use development.