The region around Delhi started developing in a major way during the late 1990s largely due to the boom in the IT and IT enabled services sectors. Gurgaon and Noida were the first cities to jump on to the IT bandwagon. This led to a large inflow of migrant population into these cities which in turn created demand for housing. The influx of large multi-national companies such as Airtel, IBM, Microsoft, Maruti Suzuki, Hero Honda, Infosys, Coca-Cola, Oracle and so on changed the region’s profile and encouraged the state governments to improve the infrastructure facilities and set up SEZs which further boosted development. Research has segregated the National Capital Region (NCR) into 17 micro-markets across six regions-Delhi, Gurgaon, Faridabad, Ghaziabad, Noida and Greater Noida. The micro-market of Noida – Greater Noida Expressway accounts for the highest amount of supply planned in NCR. The prime areas of Delhi (Chanyakpuri, Vasant Vihar, Vasant Kunj, Greater Kailash, Mayur Vihar, Preet Vihar, Dwarka, Rohini, Pitampura) together account for only 1 percent of the total planned supply due to limited land availability.
Read more: Mint
Homes in Delhi turn 20% dearer in Q1 ’13
Housing prices have risen the most in the Delhi-NCR market during January-March quarter (Q1) at an average 20 percent among the seven major cities of the country, according to a report by property portal 99acres.com. Among the top seven cities of India, the capital value growth in Delhi-NCR topped the charts with an increase of 20 percent in Q1 of 2013 over Q1 of 2012, the company said. Kolkata has witnessed an increase of 17 percent in the housing prices, while Mumbai, Bangalore, Pune and Hyderabad saw price appreciation in the range of 12-15 percent in Q1 2013, compared with Q1 2012. Housing prices have increased by six percent during the period under review. Commenting on the report, 99acres.com business head Vineet Singh, said, “While in Delhi, the prices are averaging or growing slowly, the NCR area is witnessing price appreciation owing to increased movement of people preferring improved connectivity and affordable housing.” Gurgaon’s Sector 112 saw the maximum appreciation in property prices at 72 percent in the entire Delhi-NCR market.
Rainwater harvesting a must for all housing projects in Noida
Due to the rapidly depleting groundwater levels and the need to conserve it, Noida Authority has made it compulsory for all developmental and group housing projects to ensure proper rainwater harvesting systems before they apply for completion certificates. The planning department of the Authority has also made it mandatory for future allottees of group housing projects to submit affidavits of the rainwater systems to be installed at their sites before they are provided allotment letters. Authority officials said that from now completion certificates would be issued to group housing projects only after it is found upon inspection that rainwater systems installed are working as per norms. “Site visits would be conducted by teams. Completion certificates will not be provided based simply on the fact that the project has a provision for such systems,” said a senior Authority official.
Read more: The Times of India
Indian growth story dependent on effective infrastructure risk management: CII
The greatest opportunity and challenge to India’s growth is infrastructure and the greatest challenge to the growth of infrastructure is risk – anticipated and unforeseen – that are part of any project. Risk and its effective mitigation were discussed at Confederation of Indian Industry (CII) flagship event the second edition of the conference on infrastructure project management themed on ‘Risk Management in Projects’. CBRE is the knowledge partner for the conference. Niranjan Hiranandani, managing director, Hiranandani Constructions Ltd, put the conference into perspective when he said in his keynote address, “Risks are of two types. Those we can anticipate and project management people can provide for like shortage of labour, increase in taxes, inflation, increase in cost of raw material, etc. But good infrastructure project management is not about these anticipated exigencies, it is about the risks that you cannot foresee like accidents, riots, epidemic in your labour force etc. How do you take into account something, which you have not anticipated? The way you deal with these unforeseen risks determines the success of a project. As a good project manager, you may not anticipate the problem, but you have to attend to it with equal forthrightness as you would attend to an anticipated problem.”
Read more: The Times of India
Rating system for green buildings launched
Indian Green Building Council (IGBC), part of Confederation of Indian Industry (CII), has launched a first-of-its-kind rating system to address sustainability aspects in existing buildings. The rating tool facilitates building owners and facility managers in implementation of green building strategies, measure their impacts and sustain the performance in the long run, a CII statement said. Green existing buildings have the potential to bring about operational savings in energy and water consumption to a tune of 15-30 percent, apart from enhanced air quality. CII said the rating has begun to receive good response from stakeholders with projects amounting to 3.6 million sqft expressing their interest to participate in the pilot rating programme. “CREDAI is committed to the Green building initiatives. Many of the CREDAI members are closely working with IGBC in constructing Green buildings. With increasing urbanization, the requirement for affordable housing has become the need of hour. MoEF should also grant a single window NOCs to reduce the project cost for the builders,” said C Shekar Reddy, president, CREDAI.
Read more: The Times of India
Builders can’t use groundwater: HC
The Punjab and Haryana High Court today directed PUDA to ensure that the builders do not use underground water for construction. Directions were also issued to the authority to ensure installation of electric water meters on bore-wells. The directions follow notifications issued by the Central Ground Water Authority (CGWA), placing restrictions on the use of underground water for construction purposes in 35 blocks in Punjab. As the case came up for resumed hearing, the Bench of Acting Chief Justice Jasbir Singh and Justice Rakesh Jain further directed PUDA to impose terms and conditions, for ensuring underground water was drawn and used by the builders only for drinking purpose while approving construction work.
Read more: The Tribune
‘Organised sector jobs increased by 9 lakh’
Number of people employed in the organised public and private sectors increased from about 281 lakh in 2009 to 290 lakh in 2011 even as more than five lakh posts are lying vacant in central government departments.
‘‘As per the Employment Market Information Programme of ministry of labour and employment, employment growth in the organised sector including public and private sectors has increased from 281.72 lakh in 2009 to 289.99 lakh in 2011, registering a compound annual growth rate of 1.46%,’’ minister of state for personnel, public grievances and Pensions V Narayanasamy told Rajya Sabha in a written reply.
The compound annual growth rate was 5.05% per annum in private sector and a marginal decline of 0.70% in public sector, mainly due to rightsizing, he said. Narayanasamy said about 5.81 lakh vacant posts were lying vacant in different central government departments according to a latest data updated till March 1, 2011.
Read more: The Financial Express
India’s telecom equipment exports likely to be Rs 22k in FY13
The country is estimated to have exported telecom equipment worth Rs 22,000 crore in 2012-13, the Telecom Equipment and Services Export Promotion Council (TEPC) said today.
“India has exported telecom equipment to the tune of Rs 16,350 crore till December 2012 and it is proposed that during 2012-13, the exports would be worth Rs 22,000 crore,” TEPC Secretary R K Pathak said during an event here.
Read more: The Economic Times
US investors want to invest more in India: USIBC
“It was a great shot in the arm,” is what Ron Somers, president, US India Business Council believes of the Indian finance minister, P Chidambaram’s visit to New York. Chidambaram was on a road show in the United States wooing investors to boost capital flows in India.
Somers, in an interview to CNBC-TV18 said the visit was badly needed and Chidambaram gave very welcome signals to investors. Considering the weak global economic recovery and Europe, specifically, it is more important than ever for the United States and India to work with cooperation, added Somers.
Stressing on India as an investment option Somers said, “Each and everyone of the companies that were in the room with the finance minister, wants to be a big investor, even a greater investor in India in terms of volumes and amounts of money.”
Read more: Money Control