Prasoon Joshi joins the advisory board of Ireo

Mr. Joshi straddles myriad worlds. One, in his roles as Chairman & CEO McCann Worldgroup India and Executive Creative Director of the Asia Pacific. Add to which his avatar in the world of literature and music, as an acclaimed writer and poet. The overlap of these creative fields gives Prasoon’s work a distinct edge. Unique brand and content creation that transcends boundaries and becomes part of popular culture is his forte. His poetry at seminal socio-political events in the country has a tremendous mass connect and especially resonates with the youth.

Exploiting the inherent ‘chaos’ of the Indian way of life, he is known for his authenticity and his work has been highly respected. He has judged prestigious award shows like The One show, D&AD, Andy’s Clio and many others. He has served as Jury Chairman at Cannes, Dubai lynx and Adfest & been on the Cannes Titanium and Integrated jury. Moreover, in recognition of his work in socially relevant Cinema & communication, he has been conferred the acclaimed ‘National Award’ by the President of India. His work in mainstream popular Indian films has him collect the Filmfare twice over and all the major Film Industry awards. The World Economic Forum has also designated him as the Young Global Leader. Prasoon has been part of Indian Prime Minister’s board of Advisors (Communication).

Wielding his intellect and pen across mediums and creating unique content for reputed brands, a critical Malnutrition campaign for the Government of India, three published books or writing Poetry that resonates with the youth, Prasoon is deliciously poised to leverage creativity across form.

Read more: Ireo

Road Ministry to build elevated corridor on Delhi-Jaipur highway

The Road Ministry is in talks with Haryana government to build an elevated corridor, estimated to cost Rs 900 crore, to ease traffic congestion on the Delhi-Jaipur highway.

According to sources, officials from the central and the state government have held first round of deliberations and something concrete may emerge when Haryana Chief Minister Bhupinder Singh Hooda meets Oscar Fernandes, Minister for Road Transport and Highways, on September 18.

The elevated corridor project at Gurgaon’s busiest Hero Honda Chowk is likely to cost about Rs 900 crore, said the sources in the ministry.

The Road Ministry has proposed the 50:50 joint venture between the Centre and Haryana. The state government is yet to respond to that proposal.

This move comes in the wake of congestion at the Hero Honda Chowk in Gurgaon, which is also one of the busiest stretches on the Delhi-Jaipur highway.

The elevated corridor is also expected to address the traffic snarls within the city.

Read more: The Economic Times

FDI norms for construction sector likely to be eased

The Government has started work on easing Foreign Direct Investment norms in the construction industry in order to help attract more foreign capital into the cash-strapped sector.

The Industry Department is finalising a draft note (that will soon be submitted to the Cabinet) proposing to relax conditions related to entry guidelines , minimum-area requirement and minimum lock-in period for investments, an official in the Department of Industrial Policy and Promotion told Business Line. The note has been prepared based on inputs given by the Ministry of Housing and Urban Poverty Alleviation.

“We will soon finalise the note and circulate it to other Departments and Ministries concerned for their comments. We will then place it before the Cabinet for clearance,” the official said.

Read more: The Hindu Business Line

Demand spikes prices of luxury housing in Gurgaon

The luxury housing market of Gurgaon is currently registering greater end-user demand, in contrast to the previous trend of the investment-driven purchases. The sale of luxury projects has gone up by nearly 30% in past few years-with end users and foreign nationals not averse to pay a steeper price for the world-class lifestyle features that most of these projects boast, demand has spiked, along with appreciation in their value.

Luxury and ultraluxury housing projects in the price range of Rs 1-15 crore in the residential market of Gurgaon like Dwarka-Gurgaon Expressway, NH-8, and Golf Course Extension Road are being snapped up eagerly, spurred by new product offerings, greater end-user demand, and an increasing upwardly-mobile segment. The capital value of these luxury apartments varies from Rs 6,000-15,000 per sq ft depending upon the services offered and their location.

With rising aspirations, better infrastructure, and proposed mega projects in the vicinity, Gurgaon is expected to keep on the growth track in this segment of the housing sector. Keeping this trend in mind, developers like DLF, Ansal API, Sobha Developers, Chintels Ltd, ATS, Godrej Properties, Raheja Developers, Homestead, Adani, Puri Constructions, Ireo, Vatika, Tata Housing, Oberoi Realty, Assotech Ltd, Supertech Ltd, etc, are partnering with international players to design exclusive apartments and condominium space here.

Read more: Magic Bricks

Prices of residential real estate may rise 20-25 percent: Parsvnath Developers

Real estate major Parsvnath feels there are clear indications that residential property prices may rise by nearly 25 percent in the coming quarters. Pradeep Jain, Chairman, Parsvnath Developers, attributes this to raw material costs, macro-economic conditions, funding issues and the recently passed Land Acquisition Bill. In an interview, Jain says the company will focus on executive and fast track deliveries. Parsvnath is currently working on 49 projects with a total area of 76 million sq ft. Edited excerpts:

What is the signal in the property market, both commercial and residential?

Prices of residential real estate may rise 20-25 percent. (Basically) because of (rising) cost of raw material as also the recently approved land acquisition Bill. In the commercial segment there was sluggishness, but it is bottoming out. There has been no slump in demand in the residential segment.

Read more: The Hindu Business Line

Who gets your property if you die without a will?

A written and a registered will, is the best and most convenient way for you to pass on your estate to the persons whom you want to. However, very few people take the trouble of writing a will and getting it registered. Most people pass on without writing a will.

Now, the question is what happens if a person dies without a will and to whom his/her property will pass on? The Hindu Succession Act 1956 is quite clear about it.

If a Hindu dies without a will or if his will is missing, the wealth of the person will be divided on the basis of the “Hindu Succession Act”. The Hindu Succession Act, 1956, is a law that was passed by the parliament of India in 1956 to amend and codify the law relating to intestate or un-willed succession, among Hindus.

The Act was amended in 2005 by the Hindu Succession (Amendment) Act, 2005. It is also applicable to Jain’s, Buddhists and Sikhs. The Act also underlines the rules in case if the deceased is a male or female. A child in the womb has same right as a born child.

Read more: NDTV

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