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CITY NEWS
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REAL
ESTATE
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TOURISM
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RMC Gems, newly launched Alexite?
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RMC GEMS THAI is an authorized reseller of AZOTIC’S&a mp;reg;
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E-Filing of Forms/Returns at ROC under Digital Signature (DSC)
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Latest Jewelry Collections from jeweltrades
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Available for Sale 2 BHK Apartment in Bangalore
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More Free Kolkata Classifieds...
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News
Trinamool Congress Chief Mamata Banerjee Demands Fresh Lok Sabha Polls
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Calcutta High Court To Get Eight New Judges
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Experts Say SS Hogg Market May Collapse Anytime, But KMC Yet To Wake Up
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Govt Chalks Auto Bail-Out Plan: Rs 10000 Subsidy For Each Driver; Soft Loan Of Rs 96000
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Land acquisitions for SEZs get stuck in EGoM directive
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Development
City To Get Automated Streetlights, Will Be Energy-Efficient And Save A Large Amount Of Electricity
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Howrah To Get India's First Nanotech Unit At Sankrail
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Hydel Power Project To Come Up In Eco Park The First Project Of Its Kind in Eastern India
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Kolkata's landmark Old Silver Mint to be re-incarnated
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To Improve The Fish Yield In West Bengal, Satellites To Tell Fishermen Where To Fish
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Business
Inflation, high interest rates main worry for corporate India...
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Biggies Vie For Airport Makeover Project With 1,942 Crore Bid
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Wipro To Set Up Engineering Unit At Kharagpur, It Will Invest Rs 500-600 Crore In 2-3 Phases
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Chinese Companies Keen To Set Up Steel & Tyre Plants In Bengal
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German Steel Major Sets Up Manufacturing Units In West Bengal
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Computer
Gupshup
Web Exclusive | `Twitter-Nama', A New Communication Tool
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Indian IT And ITES Sector On The Rise
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High On Tech, Low On Utility: Tacky but cheeky, Google ofers Hindi translation
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Social Networking Sites New Media For Hiring, People Are Using These Sites For Work-Related Tasks
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Upload Video Making Money, the How-To Way
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Infrastructure
Bankim Chandra Museum To Be Renovated, It Is Situated In Industrial Regions of uburban Kolkata
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Kolkata Municipal Corporation (KMC) Cracks Whip On City Clubs For 'Evading' Tax Net
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`Core Sector Spending To Rise'
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Cabinet nod for Sunderban Development Corporation
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Land Acquisition `test' For Dankuni Hub
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Tourism
Kolkata eyes graveyard tourism
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Bengal Tourism Deptt Sanctioned Rs 50 Lakh For The Renovation Of Madarihat Tourist Lodge
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Tourist Spot To Take On Kalimpong Dumpyard
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Sunderbans Tourist Rules Eased, Foreign Travellers No Longer Have To Take Permission From Writers'
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Upgrade To Woo Tourists ,Govt Decide To Beautify 4 Destinations In City
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Real
Estate
Landlosers to get price of cost escalation
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National Housing Bank (NHB) Plans To Buy Home Loans From Banks To Boost Liquidity
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Further Boost To Hospitality Industry, KMDA To Auction 18 acres off Kona Expressway By Month-End
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Red Fort Plans $600-m Infrastructure Fund For Indian Real Estate Market
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Kolkata's Landmark Old Silver Mint To Be Re-incarnated, Developed Into A Museum,Hotel And Food Court
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Kolkata
Metro
East West Metro stresses on commuter convenience
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Railway Station Near Kolkata May Be Linked With Metro
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E-W Metro Corridor May Emerge As A Tourism Destination In Itself May Be Next Tourist Attraction
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Metro Plans Leave Experts Disappointed, DMRC Not Happy With KMRC Plans Of Salt Lake
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Kolkata To Get Underwater Rail With Its Neighbouring City Howrah Under The Hooghly river
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Environment
West Bengal Pollution Control Board Raps Govt Hospitals For Violating Bio-Waste Norms
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Green Rating System To Be Introduced For All Corporate Houses In The State
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Kolkata Gets Serious About Protecting Wildlife, Appointed An Honorary Wildlife Warden
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NAL To Build India's Fastest Supercomputer For Weather Forecasts
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CNN-IBN CSDS -Conduct A Survey 'What Average Indians In Big Cities Think About India's Environment'
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Health
Special Status For Calcutta Medical College And Hospital (CMCH) On The Lines of AIMS
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Trauma Care Centre To Open In Ruby Hospital To Provide Primary Medical Care To Road Accident Victims
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Count Your Calories On Sarkari Web Sites Now "www.healthy-in dia.org"
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First Multi Drug-Resistant Tuberculosis (MDR TB) Testing Laboratory Come Up In Kolkata By October
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Supreme Court: Pvt Hospitals Treating Poor For Free Can Claim Duty Exemption
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Education
Hill Varsity Offers New Courses By Setting Up Separate Schools Of Indigenous And Folk Studies
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Calcutta University Graduate Count Up From Last Year Under The 1+1+1 System
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State Govt Considering A Proposal To Increase The Upper Age Limit of Students Taking JEE
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Quick start to classes, CU decided to complete admissions its MA, M.Sc and M.Com to Be in 3 weeks
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WBUT Trouble For Engineering Colleges For Filling Up Vacant Seats By Unfair Means
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Fun & Games
Sourav Ganguly Jumps Into Cricket Association of Bengal (CAB) Election Cauldron
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Sourav Ganguly Looking Forward To The Three-Test Series In Sri Lanka
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Cricket Camp For Needy Children With A Dream But Can't Make It
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Bhutia To Play With Kaka, Drogba, Match To Be Played At Munich's Allianz Arena on July 12
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Shah Rukh May Set Up Cricket Academy In Bengal As Well As a State-of-Art Film City in Tollygunge
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Roaks
in Kolkata
Manohar Tirkey, The Bengal Minister Of State For Public Works, Flashes Highway Hope
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Alipur Road In Kolkata Named 'Bhanu Bhakta Sharani'
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Curzon Road turns parking lot, garbage dump in 5 years
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Renovated Bridge Too High For Road Created A New Problem
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Bigger By pass To Tackle Jam At Ruby Rotary On the EM Bypass
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History
of Kolkata
Calcutta Pocket Is Poised To Deck Up Its Slice of Awadhi History ,Decide To Spend Rs 42 lakh
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E India's biggest trading hub in Kolkata gutted, Damages Estimated To Run Into Crores
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Bengal's Jain Connection Goes Back 1000 Years
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UK Lends Hand in Restoring Heritage City
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Kolkata's Howrah station turns 100
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Important
Telephone Numbers
Let's Prioritize Policy For Full-Scale Internet Telephony And Mobile TV In Time For The CWG
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Free local calls, STD @ 15p/min... If Govt Allows Domestic Net Telephony, Claim ISP Lobbyists
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Bharat Sanchar Nigam Limited (BSNL) Goofs Up Again, Now It's IPTV
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BSNL Kolkata Plans To Recruit Physically Challenged Professionals
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STD, International Calls To Get Cheaper From April 1 Telecom Regulator TRAI Announcing
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Local
Transportation
Regional transport authority RTA raid on illegal vehicles triggers clash
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Kathmandu-Kolkata Bus Link On The Anvil, It Will Also Forge Closer Ties between the countries
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Pay more for a bus ride,also bear with abusive staff and ramshackle seats
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Fresh Hike In Bus Fare from July 15
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Pay More To Travel By Bus and Cab From Next Week
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Electricity
Power cuts hit Kolkata
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Promise Of New, Pain Of Old In Power Push And Not One Of The Six Scheduled To Start Running By 2007
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NTPC-Bhel JV To Invest Rs 6,000 cr In New Unit To Set Up A Power Equipment Manufacturing Facility
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Unitech Group Will Set Up A Power Plant In The State With A Capacity Of 10,000 MW
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Now, Generate Solar Energy On Rooftops To Power Homes,WBGEDC Has Made It Possible With A Technology
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Water
After land, Kolkata scans for water
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Mayor Bikash Ranjan Bhattacharya Agreed To Lay The Tiljala Water Pipeline In Ward 59
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After Rainwater Harvesting Mandatory In The City, Builders Flout Rainwater Harvesting Norms
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Groundwater is fast depleting in various parts of West Bengal,including Kolkata:Survey
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In An Exclusive Interview With Mr B R Bhattacharyya Says 'No water-logging in Kolkata'
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Good
Eating Places Around?
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Local
Artists and Performances
Kolkata-Based Pianist's Musical Gift To City On June 4 And 5
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Kolkata Set To Host India-Russia Art Show
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The Benefits Of Special Economic Zones Seem To Be A Mirage Says Center For Policy Research
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Kolkata To Host Its First Ever Art Auction Next Year
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Fireworks Fair Opens At Maidan, PCB For New Norms
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TOP STORIES
Poor Sanitation System In Most Of The Government-Run And Government-Aided Schools In The State
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After Singur Fiasco, Buddha Looks To Take Middle Path On SEZs
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Realtor To Build Road For Its Batanagar Township In Kolkata
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Indian Institute of Management, Calcutta (IIM-C) Engaged In Implementing Hindi As Official Language
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`Over 45,000 Posts Vacant In Schools In Kolkata'
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Real Estate
Landlosers to get price of cost escalation
By Riti, Section Real Estate Posted on Fri Jul 25, 2008 at 01:20:21 AM EST
A new cash crop is on the way for farmers who have had to give up their land for industrial or township projects, resulting in appreciation of value of the plots.
The Buddhadeb Bhattacharjee government is planning to pass on a portion of the price appreciation to farmers through a compensation and rehabilitation policy. This could be one way to pacify farmers in Singur or elsewhere, who are unwilling to take compensation cheques calculated at existing prices.
The West Bengal Industrial Development Corporation offered Rs 9 to Rs 12 lakh an acre to farmers in Singur for Tata's small car factory. However, land prices in the area have increased by more than 400% since the acquisition notification was issued. In Singur, land is now selling for Rs 50 lakh an acre.
The commerce and industries department is planning to return the excess land, if any, and pass on the capital gains to the farmer. The proposal may find a place in the new compensation and rehabilitation policy for landlosers that the chief minister is likely to announce in the Assembly soon.
Elaborating on the proposal, commerce and industries minister Nirupam Sen said: "For instance, we might acquire 350 acre for a project where the real requirement is 300 acre. The additional 50 acre will be developed along with the project and later returned to farmers who gave the land."
He added: "The government is contemplating a mechanism to plough back the price appreciation after developing the surplus land and distribute it among the farmers concerned." Sen's proposal is unique because the Compensation and Rehabilitation Bill pending with the Union government does not have any such provision.
The proposal sounds practical compared to suggestions that the government should make a progressive calculation of land appreciation rates over a period of time and increase the compensation package for landlosers.
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National Housing Bank (NHB) Plans To Buy Home Loans From Banks To Boost Liquidity
By Sumit Kumar, Section Real Estate Posted on Tue Jul 22, 2008 at 01:15:26 AM EST
The housing finance market is about to breathe easy so far as liquidity is concerned. National Housing Bank (NHB) is working on a mechanism under which it proposes to buy housing loans from banks and housing finance companies (HFCs) to provide liquidity and free up capital to these lenders. NHB, in turn, will securitise the loan portfolios and sell the papers to institutional investors like banks and insurance companies.
This is the first time NHB has proposed such a scheme. "This is a new initiative which will provide liquidity to lenders and free up capital. This will ultimately channel more resources to the housing finance sector. This will also ease pressure on home loan interest rates," NHB executive director RV Verma told ET. Here's how the proposed structure will work -- NHB would hold the purchased assets on its balance sheet for onward securitisation. In the process, the portfolios will get more seasoned with NHB. In other words, it will act as a warehouse of mortgage assets to be securitised and then sell to investors without diluting the standard of the assets.
The decision to evolve this new liquidity window was taken at a meeting between the NHB brass and lenders on Monday. NHB will offer this facility parallel with the usual refinance window. As per preliminary discussions, the apex housing bank will buy out only the standard assets which carry low-risk weightage. Loans not exceeding Rs 30 lakh will be eligible for this arrangement. "We would like to buy loans which have minimum seasoning of at least six months," Mr Verma said. The amended Securities & Contracts Regulation Act now allows securitised instruments to be traded. This gives an added flexibility to the securitised market. "The seasoning of assets and tradeability will help fetch a good price for the securitised assets," Mr Verma said, adding that the whole exercise will help NHB continue funding over and above the exposure limit to individual entities.ET
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Further Boost To Hospitality Industry, KMDA To Auction 18 acres off Kona Expressway By Month-End
By Shashank, Section Real Estate Posted on Mon Jul 21, 2008 at 01:14:51 AM EST
After Eastern Metropolitan Bypass, it is the turn of Kona Expressway to become the new destination for the hospitality industry.
Kolkata Metropolitan Development Authority (KMDA) is inviting bids for setting up a five-star hotel and a chain of other commercial establishments on 18 acres near the Kolkata logistics hub off Kona expressway.
KMDA officials said they have already started receiving applications. “There are three separate plots, covering about 10 acres, five acres and three acres respectively. The 10-acre plot is for setting up the five-star hotel. The other two plots are “free use” lands, open for different kinds of commercial establishments, like hotels and resorts,” said a senior KMDA official.
Officials said nearly 100 companies have bought the pre-bid documents. “They would now be asked to furnish details of
their expertise and finally, some of the firms would be selected for taking part in the bids. The bidding would take place on July 31,” said a senior official.
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Red Fort Plans $600-m Infrastructure Fund For Indian Real Estate Market
By Shashank, Section Real Estate Posted on Mon Jul 21, 2008 at 01:00:38 AM EST
After infusing money into real estate projects, Red Fort Capital Advisors is now planning a new infrastructure fund with corpus in excess of $600 million by 2008-end.
Red Fort Capital which manages three active funds under its aegis including an offshore and a domestic fund for Indian real estate market, as well as a hedge fund for listed Indian entities - is already in talks with some of its existing investors for floating the new fund, which would invest in infrastructure projects in the country. It may also rope in new investors to the proposed fund.
Growing infrastructure
“The new fund is likely to be over $600 million and will focus on projects such as ports and power, amongst others. In fact, some of our existing investors approached us for a fund in the infrastructure, a sector whose risk profile is very different than the real estate segment. Globally, the returns for infrastructure projects are in teens whereas in India it averages at about 20 per cent,” Mr Subhash Bedi, Director and Partner, Red Fort Capital Advisors, told Business Line.
He said that in future, the investments in infrastructure projects could also find synergies with the projects that Red Fort has funded in the real estate sector. “For instance, there could be synergies between port projects and development of warehouses,” he pointed out.
In the kitty
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Kolkata's Landmark Old Silver Mint To Be Re-incarnated, Developed Into A Museum,Hotel And Food Court
By Shashank, Section Real Estate Posted on Fri Jul 18, 2008 at 12:57:40 AM EST
Eight developers have bid for a Rs 150 crore project that will see the Old Silver Mint, a fine piece of Grecian architecture on Strand Road here, developed into a museum, hotel and food court, an official associated with the project said.
The pre-qualification bid was completed July 10 and the final bid will take place within three months, said Sudip Datta, vice-president at project adviser Infrastructure Leasing and Financial Services Ltd (IL&FS).
The project will be a public-private partnership between the Security Printing and Minting Corp under the finance ministry, owner of the mint, and the winning bidder.
IL&FS, selected by Security Printing as the project adviser, has already prepared the project report, though the revenue sharing model is yet to be worked out.
The 179-year-old heritage structure, standing within a 12.5 acre compound off the Hooghly river, was used for minting coins and manufacturing medals and decorations before Independence but fell into disuse after the facility was shut down in 1952.
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Land Shortage Affects Private Industry Work In Kolkata
By Shashank, Section Real Estate Posted on Thu Jul 17, 2008 at 11:12:08 PM EST
Nine months after the foundation laying stone ceremony for a private industrial unit at Durmut (near Nutandih), 55 km from Purulia town, in Raghunathpur sub-division, the unit failed to start the construction work of their giant project.
The chairman and managing director of Jai Balaji Industries Limited, Mr Aditya Jajodia said at a Press conference in Kolkata very recently that they were unable to acquire requisite land. "As a result, we are yet to start work on the concerned project," he further said: "We had planned to start work on 1,400 acres of land at one time, but the concerned authorities have allotted only half the requirements, resulting in a delay."
Meanwhile, Mr Dipak Ranjan Kar, district magistrate of Purulia, expressed his displeasure on the laid back attitude of the Jai Balaji Group. While talking to The Statesman on Monday, he strongly criticised the authorities of Jai Balaji, who have not yet begun their construction work or even spared land.
"You see, we have already allotted nearly 700 acres of land for Jai Balaji, but they are out of range," the district magistrate of Purulia added:
Mr Tapan Chakraborty, sub-divisional officer of Raghunathpur, who was also present at the chamber of DM, Purulia, on the day, informed: "We have not acquired any land for Adhunik Group of Industries and Shyam Steel, so far."
Earlier, Mr Buddhadeb Bhattacharjee laid down the foundation stone for a 5 million tonne integrated steel plant, a 3 million tonne cement factory and a captive power plant of 1,215 MW for Jai Balaji on 16 October 2007. They will invest Rs 16,000 crore for the grand project on 3,800 acres of land at Durmut.
"Earlier, it was a remote area but now it is well connected with Asansol and Burnpur industrial areas," he said. "More industrialists have agreed to come forward to set up industries at Raghunathpur." he further added.
Source: Nani Gopal Pal From The statesman 18/July/2008
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India's Investment Rating Slips As Centre Fails To Control Inflation
By Nishant, Section Real Estate Posted on Wed Jul 16, 2008 at 11:57:33 PM EST
India's hard-earned investment rating received barely 18 months ago is under threat due to the deterioration in the central government's fiscal position this year.
Fitch, the global rating agency, on Tuesday revised the outlook on India's long-term local currency to negative from stable.
Though India's rating still stands at BBB, Fitch's lowest investment grade, the revised outlook means that the country is a whisker away from being rated 'speculative', which is euphemism for junk rating.
Fitch's action follows a warning by Standard & Poor's rating agency on Friday that India's rating could be lowered thus, if the current credit deterioration continues for a longer period.
Takahira Ogawa, S&P's credit analyst, in a note on Friday had said that India's credit profile has worsened in the past 12 months but added that "the upside and downside risks to its 'BBB' rating are currently balanced."
Fitch has gone a step ahead and actually changed the outlook on India's domestic ratings.
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Siliguri Township Bags Swanky Hotels
By ugesh sarkar, Section Real Estate Posted on Wed Jul 16, 2008 at 04:18:00 AM EST
Notwithstanding the debate surrounding the conversion of a tea estate into a real estate project, Uttorayon township, a project of Luxmi Group, in partnership with Siliguri Jalpaiguri Development Authority (SJDC) and West Bengal Industrial Development Corporation (WBIDC), and managed by the Ambuja Group, at Chandmoni in Siliguri, has completed two phases of development, and is slated to be complete by 2011.
Hotel Hindusthan International, Kolkata-based five star hotel group and The Elgin, heritage hotels operational in north Bengal, have been roped in for hotels in the township, said Rudra Chatterjee, executive director of Luxmi township.
This apart, Neotia Elbit will be setting up a hospital and a City Center mall, to be operational by 2009.
A school from the Birla Group was already operational in the township.
According to Harshavardhan Neotia of Ambuja Realty Group, "Most of the flats in the first two phases of the project have been sold out. We expect another two phases to be completed in two years."
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Builders Top Consumer Complaint List, 35 pc Of Cases Awaiting Disposal In State Forum
By ugesh sarkar, Section Real Estate Posted on Mon Jul 14, 2008 at 05:19:30 AM EST
Almost 35 per cent of the 800-odd cases awaiting disposal in the West Bengal State Consumer Disputes Redressal Commission are against property developers, highlighting the flip side of the real estate boom in the city.
A society of 100-odd past and present teachers of IIT Kharagpur is among the many aggrieved parties queuing up to file cases against realtors, some of them big players. The commonest complaints are delay in delivery of flats and failure to provide the amenities promised at the booking stage.
"There has been a sudden increase in the number of cases against realtors," an official of the commission said. "We are following the directive of the national commission to expedite these cases and have stopped giving adjournments."
For members of the IIT-Kharagpur Housing Society, the wait for their property developer to deliver on his promise has stretched beyond four years. These teachers had purchased 12 plots of land on Kailash Ghosh Road, in Behala, seven years ago and assigned a property developer to build flats there. According to the agreement between the society and the realtor, the flats were to be completed by 2004 and handed over to their respective owners after 90 per cent of the construction cost was paid.
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Unitech, DLF Projects In Kolkata Hobble,Because Of Funds Crunch And Land Issues
By Nishant, Section Real Estate Posted on Thu Jul 10, 2008 at 11:49:52 PM EST
The term City of Joy is clearly a misnomer for DLF and Unitech, India's No. 1 and No. 2 realtors.
The companies embarked on major projects in Kolkata in the last couple of months but none is able to expedite them, albeit for different reasons.
Construction at Uniworld City (Unitech's project on EM Bypass Road) has stopped because there are no funds. "The company is now seeking joint venture partners and private equity money," a source familiar with the development said.
The project was to be executed in five phases but even the first one hasn't been completed.
Unitech paid thrice the existing rate to buy land for the project Rs 33 crore per acre.
A Unitech spokesperson, however, denied the development saying construction was on and bookings have begun.
No. 1 realtor DLF isn't much better off, either. It won a global tender for developing Bengal's largest public private partnership (PPP) venture in Dankuni.
But due to inordinate delays in land allocation, the project has been put on ice, sources said.
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Oversupply, Rentals May Kill 50% of Malls, The Situation Is Clearly Grim
By Nishant, Section Real Estate Posted on Thu Jul 10, 2008 at 10:36:53 PM EST
Eight years ago, mall developers couldn't get enough of Gurgaon. The lure of big bucks in the booming retail sector was hard to resist and herd mentality ensured that malls mushroomed all over the place.
But sustaining them proved to be a different ballgame altogether and now, many of these malls have become defunct or been converted into commercial spaces. The story isn't exclusive to Gurgaon.
Mall developers in other metros and tier-I cities are set to meet the same fate, say retailers.
If retailers who conduct business in these malls are pessimistic, the situation is clearly grim.
Though no official data exist on the number of malls being developed, industry reports peg the number of malls coming up in India in the next three years at 350. Of these, about 200 may reach completion.
Govind Shrikhande, chief executive of retail chain Shoppers Stop, doesn't think even 80-100 of these malls would survive. "There is only so much that a specific catchment area can absorb successfully," he says.
Srinath Sridharan, the vice-president and head of strategic alliances at Wadhawan Holdings, which owns the Spinach, S-mart and Sabka Bazaar retail chains, presages far darker times.
"You have to be optimistic to say only half of the malls becoming defunct. I feel 80% of them will not even see the light of day. Retailers today cannot afford the high rentals being demanded. It's difficult to say if rentals are a part of sales or the other way round," he says.
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Indian Real Estate May Witness Weeding Out As A Rise In Interest Rates , Fitch Ratings Says
By Nishant, Section Real Estate Posted on Thu Jul 10, 2008 at 10:07:58 PM EST
India's real estate industry may witness the exit of weaker developers as a rise in interest rates and property prices deter buyers and crimp sales, Fitch Ratings said in a report.
Mumbai recorded a 16 percent drop in registrations in the year to March 31, and sales may fall further across India's major markets if developers hold on to prices, Fitch said. Fitch has rated its short-term outlook on the industry as negative.
``The slowdown will also aid the process of weeding out some of the weaker entities within the sector, and increasing the relative strength of some of the larger, more established developers,'' Sandeep Mulik and Roopa Raman, analysts at Fitch Ratings, said in the report in Mumbai today.
Some developers face fund shortages and may tap buyout firms as investors sell real estate stocks on falling sales. Still, a prolonged slowdown may damp the appetite of private equity funds, forcing smaller developers to either borrow at higher rates or default on their obligations, Fitch said.
The central bank on June 24 raised interest rates to the highest in six years to contain inflation that accelerated to 11.63 percent in the week ended June 21, the fastest in 13 years.
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With LS Polls Around The Corner, State Plans A Screening And Rationing System Of Resources For Ind
By ugesh sarkar, Section Real Estate Posted on Thu Jul 10, 2008 at 03:52:06 AM EST
In view of a possible early Lok Sabha election, the state government plans a screening and rationing system of resources -- including land required for proposed iron and steel plants.
The government has activated a committee to oversee their land water and coal requirements. A separate committee has been set up to check on water conservation methods.
"We have 14 to 15 proposals for new steel plants," said industries minister Sabyasachi Sen. The new projects include JSW steel project in Shalboni with an investment of Rs 38,000 crore, a plant by Jai Balaji Group in Purulia with an investment of Rs 16,000 crore and a plant by Videocon Group in Asansol .
The committee, headed by S K Bhattacharya, former MD of Durgapur Steel Plant, will screen the proposals.
Sources in the state government said land and other requirements of the proposed plants may be curtailed depending on availability and local factors like public mood.
A separate committee is being set up to look into the water requirements for the plants, Sen added.
Source: Express News Service 10/July/2008
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DLF Proposes Green Housing Project At Rajarhat near Kolkata
By ugesh sarkar, Section Real Estate Posted on Thu Jul 10, 2008 at 03:08:05 AM EST
Real estate developers DLF and the Kolkata-based Siddha Group have approached the West Bengal Renewable Energy Development Agency (WBREDA) to set up environment-friendly green residential clusters at Rajarhat near Kolkata.
These two projects, with 400-500 units, involve an investment of around Rs.10 billion each.
'We have received proposals from the DLF group as well as the Siddha group for setting up clusters of such units at Rajarhat in Kolkata,' WBREDA director S.P. Gon Chaudhuri said.
'We have agreed in principle for the DLF proposal but are yet to weigh Siddha group's proposal,' he said.
The units would have solar panels on the terrace to generate power for residential use; excess power, if any, would be sold to the state grid.
'They proposed to build 400-500 houses spread across 70 acres. Apart from solar power, the projects would also have rainwater harvesting capabilities as well as equipment to convert waste into energy,' Gon Chaudhuri said.
These units would be built with green materials, which are made by consuming lesser amounts of energy in comparison to traditional building materials.
The two proposals come close on the heels of WBREDA's Rabi Rashmi Abasan project, India's first commercial solar housing scheme.
Source: www.indiaprwire.com
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Ruia SEZ proposals under govt scanner:State Not Happy With DPRs; Sends Plans For Evaluation
By Riti, Section Real Estate Posted on Thu Jul 10, 2008 at 12:30:39 AM EST
The Ruia Group's application for setting up special economic zones (SEZs) at Sahagunj in Hooghly and Durgapur has come under the state government's scanner.
Refusing a go-ahead to the proposals, the government has sent them to the industrial reconstruction (IR) department for a "thorough" evaluation. Industries minister Nirupam Sen has asked Pawan Ruia, chairman of the Ruia Group, to meet him on July 14 and place his case all over again and answer queries on the proposals. The industries minister told TOI, "We haven't taken any decision on the SEZs yet."
Six months ago, Pawan Ruia -- earlier branded as Sen's favourite investor for buying out Dunlop just before the 2005 Assembly elections -- submitted the proposals to the union ministry of commerce and industries. He was confident of getting a no-objection-certificate (NOC) from the state.
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Real Estate
Wednesday July 9th
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Tuesday July 8th
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Monday July 7th
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Saturday July 5th
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Friday July 4th
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Tuesday July 1st
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Thursday June 26th
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Wednesday June 25th
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Monday June 23rd
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Sunday June 22nd
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Friday June 20th
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Monday June 16th
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