THIS BLOG IS MOVED

*****THIS BLOG IS NOW AT NEW LOCATION*****

Hi All,

I am building my own website. So as a first step, I have moved this blog to my own website. Please bookmark the new link. I request you to continue to visit my new blog and please pass the info to your friends also. Thank you for your continued support.

http://www.sadanapalli.net/blog

As always, I appreciate your feedback and suggestions.

Thank you,
Pradeep

HUDA Is Now Wholesale Dealer

The Hyderabad Urban Development Authority (Huda) has become a wholesaler, it will no longer retail land to ordinary citizens, like you and me. Henceforth, it will sell or lease huge chunks of land to only real estate companies who will build apartment complexes. This will deprive ordinary citizens a chance to own a plot.

Huda's metamorphosis into a real estate broker follows some high profile land auctions it undertook last year like the Golden Mile project in Kokapet which saw land prices hit the sky. The entire auction was worth nearly Rs 700 crore, though Huda had to return Rs 400 crore to the successful bidders who bought 80 acres of land due to legal tangles.

The logic of Huda officials is that as land is becoming scarce in the city and outskirts so it makes no sense to auction house plots but instead sell or lease land to private developers to build apartment complexes. "The days when people could easily buy house plots are over in the city. They will have to buy apartments now," Huda vice-chairman Jayesh Ranjan told 'STOI' on Saturday. But analysts perceive that its decision is because the government is depending more and more on revenue generating bodies like Huda to finance its various development programmes. Huda would either sell or lease about 2,000 acres of its land in the city and periphery to private companies to raise a record Rs 5,000 crore this year.

Huda owns 4,400 acres of land worth thousands of crores in Hyderabad, Ranga Reddy and Medak districts. At a recent board meeting, Huda had pegged its expenditure for 2007-08 at Rs 5,000 crore, which means that the urban body would have to raise that much money to spend. Huda does not get any allocation from the state government and as such it would have to raise the entire Rs 5,000 by taking up commercial projects. This is a record outlay in the history of Huda and double that of last year during which it raised Rs 2,500 crore.

SOURCES:
Times Of India

HUDA To Raise Rs 5000 Crore For Projects

Of the Rs 5,000 crore it plans to raise this year, the Hyderabad Urban Development Authority (Huda) would give the state government Rs 2,200 crore towards 'resource mobilisation'.

It would spend about Rs 1,000 crore for land acquisition and civil works for the Outer Ring Road (ORR) project, Rs 450 crore for construction of the P V Narasimha Rao elevated expressway and another Rs 500 crore for other engineering works.
The city urban body also plans to take up small-sized projects worth Rs 1,000 crore.

Huda has 2,000 acres of land in Jawahar Nagar in Shamirpet, 450 acres in Miyapur, 150 acres in Shamshabad abutting the Bangalore highway and along the ORR near the upcoming international airport.

It owns over 1,000 acres of land in Patancheru, Ramachandrapuram mandals and Medak district where the proposed IIT is to come up.

"Huda would take up projects like star hotels, townships along the ORR and other areas, commercial and apartment complexes during the year to meet the expenditure. Of over 4,000 acres of Huda land, nearly 2,000 acres would be sold outright or leased for these projects lined up to meet the expenditure," Huda vice-chairman Jayesh Ranjan said.

Huda would be looking to raise Rs 5,000 crore mostly through various kinds of townships like NRI and mini-townships.

SOURCES:
Times Of India

Satellite Maps For Property Buyers

RealAcres.com is developing virtual environments to help prospective property buyers and sellers understand their neighborhood, once they purchase a property for residential or commercial use.

The on-line real estate agency, a venture of Horizon Infoventures has tapped Geographical Information System (GIS), and will use satellite maps to enable users to identify sites as per their budgets.

According to Murli Ramkrishnan, CTO of RealAcres, "RealAcres has entered into a memorandum of understanding with Google Atlas for satellite imagery services. Google has provided us with an API code. We had also evaluated Yahoo!, but found it inefficient; and Mapmyindia.com, but that did not have satellite images."

He explains that the concept is derived from the US real estate sector which essentially runs on brokerage.

He says, "People do not understand the latitude and longitude of a place. Our services enable them to locate the place by just entering the pin code and road name of the area. The map locates the site. The person then only has to drag the cursor to that point. The solution is also devised to give driving instructions using flash arrows."

The company has started beta trials since the last one month, and is providing these services to Rustomjee Group (Keystone), Raheja Builders, Ekta Shelters, Royal Palms, Sumer Group, Haware Builders, Adiraj Constructions, Lakhani Builders and Prajapati Constructions. It plans to extend the value adds to all its listed builders.

Murli claims, "We are the first online estate agency in India to have embraced this technology. People these days want more information on nearest railway stations, malls, schools, restaurants, libraries, etc, before signing deals with real estate brokers. This is one of the value added services we are offering our customers. The services have boosted sales as well."

Researchers at RealAcres are also compiling demographical statistics based on gender, number of people in a particular area, number of literate and illiterate people, etc. Murli informs, "We will be ready to add the statistics feature on our website in the next six months. As of today, the GIS services are offered to customers only in Mumbai and Navi Mumbai, but we are planning to go-live in Pune next week, followed by Delhi, Bangalore, Chennai and Hyderabad."

Smita Thorat, company CEO comments, "The service will essentially benefit non resident Indians, since we will provide them with virtual environments while helping them invest in properties."

SOURCES:
CXOToday.COM

Google Gets 20 Acres At Kokapet

The State capital will be home for Google Inc., the innovative search engine, connecting millions of people seeking information.

Google, acclaimed as the world's best engine with a market capitalisation of over US $ 150 billion, will set up its state-of-the-art techno complex here.

The company's present facility on a leased premises comprises over 1,000 employees and is the second biggest in the country.

The facility catering to engineering, online sales and service, information systems and other support functions is expected to house 4,000 people once it is fully operational.

Google Inc. entered into a memorandum of understanding with the State Government for setting up its centre in Hyderabad during Chief Minister Y.S. Rajasekhara Reddy's visit to Santa Clara in the United States on Wednesday.

Google's online sales and operations director Roy Gilbert signed the MoU on behalf of the company while Information Technology department secretary S.K. Joshi represented the State Government.

As part of the MoU, the Government will allot 20 acres of land at Kokapet in Rajendranagar mandal to the company, an official press release said.

Welcoming Google's decision to invest in the State, the Chief Minister said such investments would help in accelerating economic growth in addition to providing gainful employment.

"Google products and services have received a very encouraging response and our offices have grown due to the exceptional talent pool. The MoU marks a step forward in further establishing our commitment to India," Mr. Gilbert added.

SOURCES:
The Hindu

SALE: Plots For Sale In Chalapathi's Unique City Venture

Ad From Mohan:

I have three plots for sale which I bought through one of the Realtors in Hyderabad. The realtors have got the DTCP approval for the plots as well as the Land Conversion certificate to convert the plots from panchayat to residential plots. For getting all this they charged me an extra INR 56,000. Now I want to sell all the two North facing plots and one East Facing Plot @ 3000 Rs/Sqyd.

I bought these Plots from a very big venture and if anyone is interested they can reach me at dhalli@gmail.com (dhalli at gmail dot com) for more information. Registration will be done at the earliest.

Venture Name: Chalapathi's UNIQUE CITY

Location: MeerkhanPet Village, Kandukur Mandal (On Srisailam Highway)

Serious Buyers Only, Brokers Excuse.

With Regards,
Mohan

WANTED: Plot in Manikonda

SECTION: For Sale - Apartments/Plots/Houses/Villas etc

----- Original Message ----From: Revati Eshwar To: spkbe328@yahoo.comSent: Friday, May 11, 2007 4:10:01 AMSubject: want to buy plot in manikonda area

Sir
We wish to buy a plot immediately in manikonda area for residential purpose.
Preferable size of the land - 150-250 sq yards.
Cost ranging from Rs. 8000-17000 per square yard.
The titles should be clear and not part of any road widening scheme of municipality.
Brokers please excuse.

Regards,
Revati.

Phoenix Port Gallery

POLL: Best Website For Hyd RE News (Closed and Results Published)

The Government Of Blunder Pradesh!!

Chennai, Bangalore, Pune, Cochin races ahead while Hyderabad, Blunders on!

After the success of previous Govt. in building an efficient image and projecting the state as progressive, fast and investor friendly, the current Govt. seem to be just firing in the dark, with toy guns. On measurable performance, the present Govt. has been an undisputed failure. Exclusive Ventures takes a Hard Look at the Dismal Scenario, in the State of Andhra Pradesh, India.

After seeing the series of blunders during the last two years, Indian and International investors planning to associate with the Govt. of AP, will have only one thing to say. "This Government is absolutely unreliable. There is no coordination, no control. Its utter chaos all over. Investors who get trapped , will find that they have entered a black hole. It's a miserable failure. Absolute mess!"

Its unfortunate that the good work done by the previous Govt. has almost been fully damaged. The image of the State is being crushed and stamped upon, by the horrendous acts of the Govt. and its agencies. Lets hope that this report would contribute to make the Govt. and its agencies sit up and take stock, of the situation.

Big Business Ventures "Announced" by Govt. Building Business in Air!

Golden Mile Auction by HUDA

Announced with fanfare, HUDA went ahead corporate- style to lure investors from all over India, into buying land at Kokapet which it did not own. Crores of rupees was collected as advance. Companies who had solid business plans were duped and deprived of business opportunity. HUDA has NOT returned advances since it just does not have any cash in its coffers!

Raidurg Auction by APIIC -Knowledge City??

APIIC tried to sell 30 Acers under dispute, at Rs.16 Crore per Acre just because it wanted Money. No proper Project Plan. No Infrastructure Support. No explanation for such pricing for barren land. After having been given thumbs down, they are again trying to fool companies by asking for 100% payment before execution of Sale Deed. (Since land I s under litigation, it can not be registered) If Govt. has control, will it allow its agencies to march ahead, on such dangerous course?

Tellapur Auction by HUDA

Touted to be the biggest single point investment in Hyderabad. More than Rs.4500 Cores into Tellapur. Well, except that the Govt. had allowed HUDA to go ahead and make a mess, in front of the largest and most reputed International Real Estate Developer, Tishman Speyer and hence the International Business Community & the US Govt. All the while, Govt seem to be under the impression, that they are the Law. "Any land is Govt land and no one can object." Shouldn't Govt. go ahead with auctions after due public notice and disposing of any cases? ICICI as partner of Tishman, will now be advising all companies who want to come into Hyderabad, to be very cautious.

Infosys at Shamshabad

500 Acers Campus near Shamshabad Airport. The project was announced with such fanfare and the Govt. projected this as a great achievement! After an year of groping in the dark, the Govt. has been virtually stripped naked. It offered 400 acres which belonged to someone else to Infosys! After having blundered, its now into litigation. The High Court found the whole exercise funny! Here is a Govt. which didn't know whether 400 acers belonged to it or not! And then, goes ahead and tries to grab land from the present owner!

Fabcity: Will this end up in thin air?

This takes the cake! Govt. talked about bringing Billions into Hyderabad. After blaming lack of Semi Conductor Policy for an year and a half, for delay, it now appears, that the Govt. has not done any ground-work on how the whole project is to be developed!! Valuable time has been lost for ever. And its sure that this inept Govt. can do little to bring the project back in action. What is left, is a few Million Dollars in ATMP plant to be built by SemIndia. SemIndia's Fab Unit, if at all it gets built, will bring max of 20,000 jobs in some 6 or 7 years. That is absolute pittance for all the "hungama" created by the Govt. Unless the Govt. goes into urgent action to plan and implement the entire project and THEN bring in new Investors to take up the entire 1200 acres, this project will be the biggest act of fraud, played by any Govt. on gullible public. High expectation was built based on numbers and figures given out in news conferences by the Govt. The Govt. can not be so callous as to just brush aside everything, disregarding the fact that public has acted in good faith and invested near fabcity.

Mucherla IT Park, This IT Park, That IT Park!!

OOPS! Wonder whether the Govt., at least know, where these places are! These were all created solely for duping poor individual plot buyers, who naturally had no reason to disbelieve an elected Govt. After all, Governments represent people. Its for their benefit that a Govt. is elected. But instead of benefit, this Govt seem to be bringing definite doom. While individuals put their hard earned money into land believing the Govt. all we find, after months is nothing but non existent projects which even the Govt. has forgotten.

Electronic City at Chevalla!

Heard of it. Yes the Real one in Bangalore! While Chennai, Bangalore, Cochin, Pune etc. are powering ahead with REAL Projects, Real Invetments, Real Jobs, this Govt. has turned Andhra Pradesh into "Blunder" Pradesh with only shadows of Big Projects.

Projects by TCS, Wipro, Cognizant etc at Adibhatla

Other than making announcements, there is no proactive action on any project. Castles in the air?

Volkswagen

This time Minister himself "botched it up" - Looking back, we can clearly see that the Govt has been a team of "Botchers." Starting off with Minister, Mr. Bosta who gave Rs.20 Crore to a non existent firm!

Hundreds of other Projects in non- IT Areas including Power, Infrastructure, Communication, Education, Primary Health, Housing……

While the Govt. has been an absolute disaster in handling high profile projects, we can rightfully assume that its engaged in creating dreadful mess, throughout the state, in all areas of activity.

The only jobs and projects that we can actually see, seem to be the result of work done by previous Govt. IT and Financial District at Guchibowli, Hitec City, Bio Tech Park, ORR, Airport; all are projects which the previous Govt. founded. And today, they are REAL not shadows.

Large Investors

There is no doubt that news about AP Govt's failure is spreading fast through the community of Investment Advisors including arms of major banks and financial institutions in India and abroad. If the situation is not controlled, AP will become a pariah in the eyes of Investors. It would take huge effort to put the state back into the radar of business community.

The talk of Govt. sending APIIC to do quick fire auction of land in Kadappa for cement factory has created nausea among business community. Can a Govt. expect any Business house to bid for land for building a cement factory, with 3 weeks notice? Does it think that Businesses are built out of the hat?! How can the Govt. even expect that any one would just come forward and bid? Does it think that Indian Business houses are morons, waiting to grab any call for land purchase and act stupidly like the way the Govt itself does?!

The actions of this Govt. is a procession of blunders, packaged unfortunately, in public money. The Govt. would be looked upon suspiciously by investors, who are being invited to be trapped, in the mess. CREDIBILITY OF THE GOVT. IS TOTALLY LOST.

Individual Investors

The public naturally believes that the Govt. is capable and is acting in their interest. Small investors who rightfully invested in land, based on projects "announced" by the Govt. have all been lead up the garden path. They have been left in the lurch while, insiders in the Govt. have bought and sold land and got out in time, trapping small investors. Unless the Govt changes its ways, learns to take control of its agencies and acts fast, to put projects back on track, the public will be left with non performing assets.

Obviously, urgent and immediate action is required to prod the Govt. into action. Like Mr. Chappel said of Sachin, "Its time, now, to take a close look at the mirror, and ask, all those uncomfortable questions!"

SOURCES:
Exclusive Ventures

HUDA Bracing For Projects Along ORR

With the work on first phase of Outer Ring Road (ORR) and International Airport progressing at a brisk pace, the Hyderabad Urban Development Authority (HUDA) is getting ready to launch three major projects along the Outer Ring Road (ORR) and in proximity of International Airport this year. HUDA had actually planned for six projects near Poppalguda, Budvel, Shamshabad, Jawaharnagar, Kokapet and Ameenpur for different sectors like IT, ITES, healthcare, hotels and NRIs and high net worth individuals/companies.

Of them, three projects near Shamshabad, Budvel and Ameenpur in Medak would be taken up during this financial year and an announcement is expected in a week's time.

Hotel corridor

The 150-acre layout at Shamshabad, close to the International Airport, `Regal Broadway', was earmarked for creating a hotel corridor with star and budget hotels. The layout close to the financial district, HUDA's Golden Mile and 60-storey Twin Towers, would have large sized plots that would be auctioned. Medi City to come up in 200 acres at Ameenpur in Medak would be developed for the healthcare industry. It would house medical institutes of national and international repute equipped with state-of-the-art technologies and would also have resorts with modern amenities promoting medical tourism and catering to prolonged ailments and treatments.

Another project, `Menefer' would come at Budvel near Himayatsagar lake. Though Budvel was not one of the 84 villages covered under the GO.111, it would only allow villas in plots of one-acre size, mainly intended for NRIs and high net worth individuals/companies, to come up.

Other projects on the anvil are a 2,000-acre Giga City in Jawahar Nagar for residential, commercial and educational projects, IT and ITES. About 200 acres in this layout is already allotted to BITS Pilani to set up its Hyderabad campus. The work would commence after the finalisation of the Master Plan exclusively for Jawaharnagar area being developed by a private consultancy.

In Kokapet, HUDA would set up SEZ for IT in 125-acre `Calibre SEZ' and another 275-acre layout would be developed for IT and ITES companies.

SOURCES:
Hindu

The Hussainsagar And Catchment Area Improvement Project

The work on the mega project of the Hussainsagar and catchment area improvement project has now moved from drawing board stage to execution stage with the HUDA inviting pre-qualification applications from prospective bidders in an international competitive bidding.

The Rs.300-crore project involving construction of new tertiary-level sewage treatment plants (STP), upgrading existing STPs, laying trunk sewers to collect sewage from various nalas emptying untreated sewage into the lake, dredging of lakebed to rid it of toxins and improvement and beautification of shoreline is being funded by the Japanese Bank for International Cooperation (JBIC).

The first step in the project will be construction of a 30 MLD STP at Picket Nala for which tender notice for pre-qualification bids was issued recently. The last date for receiving applications is June 20. The design and Detailed Project Report (DPR) for the STP is ready, according to Executive Director of HUDA K.S. Reddy.

After short-listing the suitable firms, bidding documents for the STP based on JBIC guidelines would be provided and then financial bids would be invited from the short-listed companies for awarding the contract. "It will take three months for the commencement of the work on the STP," he said.

The JBIC known for its time-consuming but meticulous planning and evaluation of project before extending funding has selected Tokyo-based firm NJS as the project management consultant. The firm had already opened its office in the city.

The 20 MLD secondary-level STP at Khairatabad flyover would also be upgraded into a tertiary-level to drastically reduce the presence of nitrates and phosphates in the sewage.

The survey for laying of trunk sewers in Picket and Kukatpally nalas and diversion channel for excess sewage had been on, he disclosed.

Besides Picket and Khairatabad STPs that would handle 50 MLD sewage, smaller STPs of 5 to 8 MLD capacity would be constructed at Hasmathpet lake in Alwal Municipality and Rangadhamuni and Yellamma tanks in Kukatpally for which DPRs are under preparation and tenders would be called shortly, Mr. Reddy said.

The restoration of the Hussainsagar — constructed during Nizam's time to serve as the drinking water resource for the city — was not merely for cleaning up the lake bed of its toxicity but to eliminate the pollutants at their source level itself and gradually improve the lake water quality to potable level, he said.

SOURCES:
Hindu

Realty Boom To Be Core Driver For Godrej Group

The Godrej Group, traditionally identified with FMCG and consumer durable products, has decided to ride the realty boom, and make property development its core driver. Currently, property sales barely account for 7 per cent of the Rs 5,500 crore giant’s turnover. Looking forward, Group Chairman Adi Godrej expects realty development to become the Group’s largest revenue earner over the next five years.

Currently, with FMCG products accounting for 28 per cent and durables 20 per cent of the group’s turnover, the Godrej group is a dominantly consumer products giant.

The realty arm Godrej Properties contributes barely 7 per cent, while poultry and agro-products division Godrej Agrovet makes up 15 per cent. Godrej’s new restructured business plan now includes the unlocking of its vast land assets in Mumbai, principally the more-than 2,000 acres of land in its Vikhroli estate in Mumbai’s north east suburbs that had so far been embroiled in disputes involving the Urban Land Ceiling Act. “The Godrej brand will add more value to our realty products,” the group’s chairman said.

The pattern for land development at Vikhroli will be a joint venture between the land-holding companies Godrej Industries and Godrej & Boyce and the realty arm Godrej Properties. In Godrej Properties, 83 percent equity is held by Godrej Industries, while 13 per cent vests with the Godrej family. “We are looking at an IPO for Godrej Properties in the near future to give it a larger capital base,” Adi Godrej revealed. Much of the manufacturing activity at Vikhroli like soap production— under Godrej & Boyce—has been shifted to Himachal Pradesh freeing up three million square feet, while plans are underway to shift the remaining factory operations occupying 70 acres or so outside Mumbai too. In the old manufacturing area, several IT companies have taken up leased backend offices.

At the national level, Godrej is set to bring in other land holdings into property development. In Bangalore, 100 acres of land held by group company Godrej Agrovet for poultry breeding would now be diverted for realty development. Godrej Properties had initially taken the joint venture route with landowners.

By limiting its investment to development and construction and excluding land costs, Godrej Properties lowered risk on high-value lands. However, to ramp up realty development, the group had now decided to opt for an aggressive land acquisition strategy, Adi Godrej said.

The company has already finalized 34 acres of land at Patancheruvu in Hyderabad on which it intends to develop 6 million sq. ft of IT space. The project may also be developed as an IT SEZ. Godrej Properties Ltd. has purchased this land on an outright basis from Rallis India, a Tata Group company. The property touches the NH – 9 (Hyderabad – Mumbai) and is located on the APIIC’s Industrial Estate. Located close to the junction of the proposed Outer Ring Road (ORR) 2nd phase, it will offer excellent connectivity to the existing IT nerve centre (Hi-Tech City) and the proposed new airport at Shamshadabad.

“We have 20 million square feet under development. Ask me after one year, and it will be 40 million square feet,” said Godrej.

SOURCES:
Hindustan Times

NIPER To Invest Rs 180 Crore In Hyderabad

The National Institute for Pharmaceutical Education and Research (NIPER) has been allotted 100 acres of IDPL land to set up a Rs 180-crore institute of excellence under the public private sector participation model.

The Niper Hyderabad would also play the role of an incubator in participation with the pharmaceutical industry. Niper is seen as a centre of excellence and will play the role similar to IIMs in bridging the talent requirement in the pharma sector.

SECOND INSTITUTE

This would be second such institute on the country after Mohali centre and it is now proposed to establish three more at Ahmedabad, Hajipur and Kolkata during the XI Plan period, according to Mr G.S. Sandhu, Joint Secretary Department of Chemicals and Petroleum, Government of India.

CLASSES BY JULY

Addressing a press conference here along with the Bulk Drug Manufacturers Association (BDMA) here on Saturday, Mr Sandhu along with the President of BDMA, Mr M. Narayana Reddy, announced their decision to commence classes initially at the Indian Institute for Chemical Technology-Hyderabad by July 2007 and later shift to the new campus planned in the IDPL land.

INVESTMENT

This project would involve total investment of Rs 180 crore including Rs 90 crore for equipment, about Rs 70 crore for building.

Hyderabad being a bulk drug manufacturing base, several players from the pharmaceutical industry have agreed to contribute for the success of Niper in Hyderabad. While in the case of Kolkata, Indian Institute of Chemical Biology (IICB) and Patna Medical College in the case of Hajipur near Patna and LM Institute of Pharma Science and Nirma Institute for Ahmedabad institute would play a similar role like IICT in Hyderabad.

MANDATE

The Niper mandate is to focus on medical chemistry, pharma analysis and pharmacology and toxicology.

The Government officials, pharma sector companies and other industry representatives met with the State Chief Minister, Dr Y.S. Rajasekhara Reddy, on Niper and were assured of the State's support for the project, Mr Sandhu said.

SOURCES:
The Hindu Business Line

India's Tallest Building In Hyderabad

The historic Charminar might soon lose its status as Hyderabad's most famous structure.

The state Industrial Infrastructure Corporation has given the final nod to the city's skyscraper zone, and a landmark building, to be located in a 100-acre Business District in Manchirevula near Hyderabad.

"In the area that the building is coming up, the minimum height of a building should be 30-storeys. The building that we are making will be 100-plus storeyed building surrounded by a series of 10-12 30-storeyed towers. It will be a compact business district like Manhattan or Nariman point," said APIIC Vice-Chairman, B PAcharya.

The proposed Trade Tower will house corporates, hotels and other establishments. 22 international players participated in the recently-concluded bidding process.

"We have kept very stiff pre-qualification norms and 10 were finally selected in the pre-qualification round. Ultimately two parties have responded and we are going to finalise them shortly - one from Israel, one from India," said Acharya.

The APIIC had initially proposed to build 60-floor twin towers. Teams were sent to study the Petronas Towers in Kuala Lumpur, Sears Towers in Chicago and high-rise buildings in Dubai.

Based on their reports, a single trade tower was approved. At present, the 16-storey Babu Khan Estate, built in 1987, is the tallest commercial building in Hyderabad followed by the 13-storeyed Haj House.

Since the proposed trade tower will be located in the skyscraper zone, getting clearances from the municipal and fire services authorities will be just a formality.

According to the APIIC, the construction of the trade tower will start by July this year and it is likely to be ready in the next three years.

Watch the Video Here

SOURCES:
IBN LIVE

SuchirIndia Responds To Article In AndhraJyothi "Maheshwaramlo Mayajalam"

Hello,

In the article published in AhdraJyothi with the title "Maheshwaramlo Mayajalam", SuchirIndia's name was mentioned in the list of developers who did not pay the Nala and Sewerage charges for their ventures Gold Coast and Phoenix Port. I followed up with them and they issued a respone in today's AndhraJyothi edition (Main 3rd page).

Here is the screenshot for those interested.

Real Estate Investors' Clubs

Hello,

I have created Investors' Clubs using Yahoo Groups to provide a common ground to all who have invested in a particular developer's Real Estate projects/ventures. This is done with an intention to provide a common platform to share the status of the ventures, the photographs with the group, any issues that come up related to developer's ventures, to take up any issues with the developer, to come up with suggestions for improvements of ventures, to share the news items related to these ventures etc etc ...anything that would commonly help the investors in the ventures of a particular developer.

If you have invested in any of the SuchirIndia's or Green Home Group's or Vishal Group's ventures, I request you to join the corresponding club below.

The below are created for now. If there is good response, we can extend the same practice to other builders/developers.

To subscribe to any group, please send an email - for example, if you want to subscibe to Suchir Investors Club, send an email to suchir-investors-club-subscribe@yahoogroups.com.

1. SuchirIndia Investors Club
Group name: suchir-investors-club

Group homepage: http://groups.yahoo.com/group/suchir-investors-club

Group email: suchir-investors-club@yahoogroups.com


Suchir Investors Club

2. Green Home Investors Club
Group name: greenhome-investors-club

Group home: http://groups.yahoo.com/group/greenhome-investors-club
Group email: greenhome-investors-club@yahoogroups.com


Greenhome Investors Club

3. Vishal Projects Investors Club
Group name: vishal-investors-club
Group homepage: http://groups.yahoo.com/group/vishal-investors-club
Group email: vishal-investors-club@yahoogroups.com


Vishal Investors Club

Added this on 05/07/2007 as per someone's request.
4. Dhatri Constructions Investors Club
Group name: dhatri-investors-club
Group home page: http://groups.yahoo.com/group/dhatri-investors-club
Group email: dhatri-investors-club@yahoogroups.com



Dhatri Investors Club

Royal Meadows At Kompally - HUDA Layout

VERTEX Pleasant At Nizampet

Resale Villas At Gopanapally and Gachibowli

GreenWoods - Luxury Villas At Dundigal

GreenWoods is an enclave of 68 premium luxury villas provided with the state of the art amenities and facilities. Located in the new and sophisticated residential area of Dundigal, Greenwoods lies in close proximity to the Outer Ring Road and is located on the main highway running from Hyderabad to Narsapur. The area is clean and pollution free and is one of the newly developing, residential neighbourhoods around Hyderabad. The area also has excellent connectivity by way of the Outer Ring Road as well as already existing Inner Ring Road, giving it quick access to areas such as Nizampet, Miyapur as well as the Hi-tech city area.

The project is being carried out by Modi Builders, a leading construction company in Hyderabad with an immaculate track record in delivering quality housing.

Features:
1. This is a HUDA Layout.
2. 68 Luxury Duplex Homes
3. Plots from 141 sq yds to 292 sq yds
4. Constructed area of the houses - 1494 sq ft
5. Underground Cabling
6. Cemet Concrete Roads
7. Generator backup facility
8. Layout surrounded by compound wall
9. Landscaped parks, tennis court, club house with gym, swimming pool

For more information, please visit www.modibuilders.com

157 Open Spaces Encroached - GMHC Submits Report To HC

As many as 157 open spaces have been encroached upon in the city, with most of them converted into religious places, private properties, community halls and educational institutes.

Interestingly, until recently the Greater Hyderabad Municipal Corporation (GHMC) did not know that it owned 97 more open lands to its existing 1066.

A survey done through satellite (Geographical Information System) images obtained from National Remote Sensing Agency helped the GHMC to identify its open lands. However, by the time the corporation realised about the lands and identified them, they were in the hands of private parties. These open spaces have been earmarked for developing parks to have lung space in various localities.

The GHMC has submitted a report to the High Court on open spaces and encroachments in the city. According to the report, there are 1163 open spaces of which 157 have been encroached upon by various institutions and individuals. The officials of the corporation informed the court that they have been taking steps to get the encroached lands back to the civic authority and protect them by fencing the area.

Of the 157 encroached open lands, the town planning authority could remove 24 encroachments by private people in the last one year. Religious buildings have come up in 46 open lands and 98 have been encroached by institutions including colony welfare associations for using them for community halls and schools.

Circle-V, which comprises up-market areas like Jubilee Hills, Banjara Hills, Punjagutta, Ameerpet and surrounding areas, has the highest number encroachments (29). In circle-I, which covers mainly Old City, Malakpet, Saidabad and Charminar, about 50 open lands have been encroached by the residents for community purposes and to run schools. Religious structures have come up in Old City areas where 37 spaces were converted into places of worship.

“We have slapped notices on encroachers and are making efforts to get the lands back. Simultaneously the corporation is fencing the open lands belonging to it and later developing them into parks,’’ additional commissioner (planning) of GHMC, K Dhananjaya Reddy said.

SOURCES:
Times Of India

ORR Phase-II To Get On Fast Track

The 72-km phase-II work of the Outer Ring Road (ORR) project from Peddamberpet to Patancheru is set to get on the fast track with the Japan Bank of International Cooperation (JBIC) agreeing to clear a Rs 2,000-crore loan quickly.

Following a presentation made on April 26 in New Delhi, JBIC officials reportedly agreed to release the funds during the middle of this financial year, i.e. in Sept. “As a result, phase-II work will begin five months in advance,’’ said MD of Infrastructure Corporation of AP L V Subramanyam.

Normally, the JBIC releases funds only once in the beginning of a financial year. But AP government officials’ persuasive skills helped in convincing the JBIC on the need for quick assistance. Land acquisition for phase-II also is expected to be completed by June this year. “The technical fact finding mission of JBIC is expected to visit Hyderabad in a month,’’ ORR project director Peeyush Kumar said.

ORR phase-II is being taken up from Shamshabad to Patancheru. It is divided into A and B. Phase II-A again is divided into two stretches—Shamshabad to Peddamberpet and Narsingi to Patancheru. The project cost of phase II-A is Rs 1,800 crore while for phase II-B it is Rs 2,090 crore.

HUDA has already begun land acquisition and is expected to be complete by June this year. While for phase II-A, 317 acres is being acquired, for phase II-B, 2362 acres is required.

For the stretch from Narsingi to Patancheru, the Hyderabad Metropolitan Development Authority (HMDA) has called for tenders.

For the stretch from Shamshabad to Peddamberpet, tenders will be opened on May 22. Phase-II A is being taken up on ‘annuity model’ where HMDA will repay the contractor annually, but he will get mobilisation advance for the work.

SOURCES:
Times Of India

Tellapur Deal Hit By Delay

The Hyderabad Urban Development Authority is facing rough weather with the much-hyped Tellapur township even as memories of the bitter experience at Kokapet refuse to fate away.

The agreement between Huda and the consortium of ICICI-Nagarjuna Constructions and the Indian subsidiary of the US-based Tishman Speyers is being delayed though the tenders were finalised on January 31.

The delay is mainly due to a legal battle in the AP High Court over the ownership of the Tellapur land. An industrial co-operative society argues that it is the owner of the land.

The government and Huda are to explain in the High Court that the government is the absolute owner of the land and not the Huda.

Minister for revenue Dharmana Prasada Rao is expected to hold a crucial meeting on May 11 on the Tellapur township, which would raise Rs 1,686s crore for the exchequer.

The ICICI consortium was the lone bidder for the Tellapur township spread over 400 acres of land. It offered Rs 1,686 crores for the land at Rs 4.21 crores per acre.

Apart from paying the land cost, the consortium will invest Rs 3,644 crores for the development of township at Tellapur which is 5 km from Hitec City and falls in Medak district.

The consortium was supposed to pay Rs 400 crores as upfront amount once the agreement is signed by both parties and remaining would be paid in instal ments as per the terms and conditions.

In fact, the agreement was supposed to be signed in the US during the Chief Minister’s US tour. But the proposal was cancelled given that the court case on ownership of the land was still on. However, Huda is optimistic about winning the case on land row.

“We hope the issue is settled very soon even as the ICICI consortium is busy with planning and designing of the township,” said Mr Piyush Kumar, project director of Outer Ring Road.

SOURCES:
Deccan Chronicle

MCH Does Not Know Its Land

Crores of rupees worth government lands vested with the erstwhile Municipal Corporation of Hyderabad (MCH) have been encroached and the corporation till recently was not even aware that these properties belonged to it. The so-called government vested municipality (GVM) land was given to the MCH to be used for public purpose some four decades ago. Over time, individuals occupied the land and built upon it.

The MCH discovered that it had control of the land when it began checking up land ownership details of people who were refusing to give up a portion of the land for road widening.

There are eight such properties on Ek Minar Darus Salam Road, St Mary’s road (one), Sitaphalmandi (16), Subhash Road (14), Karbala Maidan (four), Nallakunta-Shanker Mutt Road (18), Mir Alam Mandi (12), Liberty-Himayatnagar Road (10), Mettuguda (six) and Yakutpura (12) to list a few.

“We cannot invoke the Land Acquisition Act if it is government property. We have requested the Hyderabad district collector to issue emergency clause notification as per the Land Encroachment Act and take over these properties,” Greater Hyderabad Municipal Corporation additional commissioner, projects and planning, Dhanujaya Reddy said.

Land acquisition officer N. Raghunath Rao confirmed that several pieces of GVM land was under encroachment and most occupants were running their own establishments.

Hyderabad collector R.V. Chandravadan told this newspaper that the district administration was verifying records and would vacate the encroachments in a special drive.

SOURCES:
Deccan Chronicle

APIIC Approaches SEZ Firms For Fab

The Andhra Pradesh Industrial Infrastructure Corporation has begun scouting for a codeveloper for Fab City.

The corporation, which took the driver’s seat after the government cut SemIndia’s role, is believed to have proposed to leading “desi” developers of IT and infrastructure projects to study the feasibility of becoming a co-developer in the Fab City Special Purpose Vehicle (SPV).

Official sources told this correspondent that the APIIC sought feedback from companies like Emaar, Rahejas, DLF, L&T and promoters of Satyaveedu Special Economic Zone on becoming co-promoters.

“The APIIC asked us to study the feasibility of becoming a co-promoter. It wanted us to study the market and other aspects. But it does not mean that we will be selected on a nomination basis,” a top executive from one of the developers said on condition of anonymity.

Enquiries revealed that the developers were hesitant for various reasons including the high cost involved in infrastructure development. The Fab City SPV will be primarily engaged in infrastructure development which is expected to cost more than Rs 4,000 crores.

“None of the developers have knowledge about the Fab industry and the risks involved as they have been handling only IT projects. Second, the return on investment largely depends on the Fab investors’ conditions,” another developer said adding that there were apprehensions that other investors would also press for free land like SemIndia.

A section of officials also cautioned the APIIC against the reverse strategy of trying for international developers through “desi” ones. “In any infrastructure project, the international bidders choose their local partners. It is better for the APIIC to select the developer through bidding,” a senior official said.

Any deviation from the process could lead to criticism that the government is turning Fab in to a real estate venture, he said.

SOURCES:
Deccan Chronicle

Realtors Hit As Infosys Shifts Base

It's a bolt from the blue for realtors who bought land in Mamidipally in the hope of riding on the boom generated by Infosys' largest campus in the country coming up there: The IT bellwether's campus is likely to be shifted to Pocharam on the Warangal highway at the other end of Hyderabad.

The shift has been necessitated due to the lack of land in Mamidipally which is close to the site for the international airport. The land prices in the area had skyrocketed after the government signed an MoU with Infosys on March 27, 2006. From about Rs 40-50 lakh an acre, the prices had shot up to Rs 1 crore an acre. Several real estate developers had come up with major projects, cumulatively worth over Rs 150 crore.

The sole selling point was that the land was in the vicinity of the proposed Infosys campus. "We were expecting the employees of Infosys to be our first customers. Though the company talked about housing within the campus, we thought employees would love owning property near the campus," property developer V B Murthy lamented when he heard about the change of plan.

On paper, Infosys had been allotted 550 acres near Mamidipally at Rs 12 lakh an acre. But some portion of the allotted land was under litigation between the state government and IMG, the US-based sports management company whose land allotment was cancelled. Infosys' board member and human resource head T V Mohandas Pai said they had agreed to look at the alternate location due to the litigation. "We are in discussion with the government to resolve the issue," Pai told TOI while confirming the fresh allotment.

The IT major agreed to shift its campus after persuasion from the state government. The land that is now being allotted to Infosys at Pocharam is owned by the AP Housing Board. According to senior officials of the Housing Board, 447 acres has already been transferred to the AP Industrial Infrastructure Corporation (APIIC). "We have agreed to transfer the land to APIIC in lieu of equal land somewhere on the outskirts. It is up to the corporation to allot the land to whoever it wants," a senior official of APHB said.

Confirming the move, APIIC's vice-chairman and MD B P Acharya said a revised MoU will be signed with Infosys shortly. While the fresh allotment would be for 447 acres, the price would be almost equal to what was agreed for Mamidipally allotment.

The flight of the project from one end of the city to the other is expected to have a deeper impact on the realty market on the outskirts. Though the Fab City project is still on near the international airport, the shifting of Infosys campus would mean disappearance of 25,000 jobs from the area and this would drastically change the contours of development near the Mamidipally-Shamshabad belt, an industry source said.

SOURCES:
Times Of India

Goldstone To Set Up Rs. 5 Crore Plant

Goldstone Teleservices Ltd is set to tap the Rs.600-crore market for heat shrinkable sleeves for oil and gas pipeline joints by indigenously producing them in the country.

L.P. Sashi Kumar, managing director, and Surendranath, executive vice-president told a press conference here on Friday that a plant at Cherlapally near Hyderabad for manufacturing corrosion protection heat shrinkable sleeves was being set up with an initial investment of Rs.5 crores. It planned to invest another Rs.6 crores in the plant. The company would target a market share of Rs.5 crores in the first year.

Mr. Sashi Kumar said Goldstone was expecting to double its turnover of Rs. 60 crores this year. It had orders worth Rs.45 crores for indigenous silicone rubber composite insulators for transmission and distribution lines.

SOURCES:
The Hindu

XLRI Spreads Wings To Cyberabad

XLRI is spreading its wings to the cyber city of Hyderabad by way of starting a second campus there on a 30-acre plot located on the 135-acre Society of Jesuits-run Loyola College premises at Alwal in the city.

The B-School has planned to start its regular two-year courses in business gement (BM), personnel management & industrial relations (PM&IR) there from the academic year 2009-10. “We have got the land and now we have to start building the institute,” Fr N Casamir Raj, director, XLRI, told FE here Friday. The institute wants to restrict the number of seats available for each of its two courses to 60.

Asked about the cost it would incur to build and run the campus, the director said, “To begin with, it would cost us Rs 3 crore; thereafter it would become self-sustainable”.

The new campus would also initially be controlled from Jamshedpur. XLRI envisions the Hyderabad campus to “slowly grow by itself” and become independent one day, like the Xavier Institute of Management, Bhubaneswar (XIMB) on Friday.

“We already have some faculty at the Jesuits-run Loyola College, Hyderabad and if required, we would be moving from here,” said the director, adding that Cyberabad was chosen from among several other places.

SOURCES:
The Financial Express

Decision On Elevated Metro Rail Project Criticised

The Lok Satta Party has criticised the Government for its decision to go ahead with the elevated metro rail project for Hyderabad calling it "ill-considered, non-comprehensive and unviable".

Party spokesperson Karthik Chandra on Friday alleged that the Rs. 8,482 crore project will serve as a magnet for "corruption, irregularities and inefficiency". The Government is allowing the project despite "serious doubts" raised about its viability and efficacy, he alleged.

The project will cover 66 km of the capital, serving about seven lakh people. The cost per kilometre will come to Rs. 130 crore, a press release said. A much cheaper Bus Rapid Transit System (BRTS) costing Rs. 10 crore is advisable as it can be integrated with the bus services and MMTS trains, he felt.

SOURCES:
The Hindu

YSR Lays Foundation For Indigenous Car Project

Chief Minister Y. S. Rajasekhara Reddy on Monday unveiled a plaque marking the laying of the foundation stone for MLR Motors' car project here. He complimented the promoters -- M. Lokeswara Rao (Director) and B. V. R. Subbu (Chairman) -- of the project for taking up a challenging task to set up a car manufacturing unit in Medak district.

Mr. Subbu said that the company acquired intellectual property rights from a European automobile major for the B-segment platform on which the car would be built. He said the car would be rolled out by early 2009. By 2008 Sankranti, the company would launch its four-wheel micro-commercial vehicle, providing affordable mobility solution.

The UK-designed power train of the proposed car would set a new benchmark in fuel efficiency and product quality. The four-wheeler micro-commercial vehicle would be a breakthrough in the company's efforts in making cars. The European design acquired by the company needed to be modified to suit Indian needs. The integration of technology and other components would package the car. As for the options, Mr. Subbu said the company was considering petrol and diesel versions of passenger cars. Industries Minister J. Geeta Reddy thanked MLR Group for choosing the Gajwel constituency for setting up of the unit.

SOURCES:
The Hindu

New Hyderabad International Airport Leases Land To Indian Airlines For MRO Facility

GMR Hyderabad International Airport Ltd, (GHIAL) has signed a lease agreement with Indian Airlines Limited (IA) for setting up Maintenance, Repair & Overhaul (MRO) facility at the upcoming Rajiv Gandhi International Airport at Hyderabad.

As per terms of the agreement, the Indian Airlines will build a new MRO facility at the new international airport at Shamshabad. The existing operations at Begumpet Airport are expected to be transferred to the new MRO once the new facility is completed and commissioned at the new international airport around the time the airport goes operational in the first quarter of 2008.

GHIAL will invest and build connecting taxiway, apron and engine run-up bay as common facilities for the Indian Airlines' MRO.

The facility in Begumpet airport handles the initial maintenance checks (including C-Checks on IA's Airbus-320 aircraft. The IA will render similar service to its aircraft as well as those belonging to Air India at the new facility.

Besides the MRO in Begumpet, the Indian Airlines has similar facilities in Delhi, Mumbai, and Kolkata airports also.

Commenting on the partnership with Indian Airlines Limited, Mr.Srinagesh, Chief Operating officer, GHIAL stated, "We are happy to have Indian Airlines Ltd set up the MRO facility in our airport at Shamshabad. With the commissioning of Indian Airlines MRO facility, it will be another step towards our endeavor to make the airport an integrated aviation facility for our key business partners like Indian Airlines."

More Information:

GMR Hyderabad International Airport Limited

Background

GMR Hyderabad International Aiprort Limited (GHIAL) is a joint venture company promoted by GMR Group (63%), Malaysia Airports Holding Berhad (11%), Government of Andhra Pradesh (13%) and Airports Authority of India (13%) as the other consortium partners. GHIAL won the bid to develop and operate the greenfield international airport at Shamshabad in Hyderabad through an international competitive bidding process conducted by the Government of Andhra Pradesh and the Government of India.

GHIAL's mandate is to build, finance, operate and maintain a Greenfield airport with service standard levels and infrastructure on par with any global benchmark, thereby enhancing shareholders value. Built through the Public-Private Partnership initiative, the futuristic airport will establish Hyderabad on the global map and thereby contribute to the prosperity and overall development of the region.

The upcoming Greenfield airport in Shamshabad, Hyderabad is strategically located in India providing excellent opportunity to develop the airport as a hub for domestic and international passenger and cargo traffic. The futuristic airport reflects the long term vision of its developers to build it as a major domestic and international hub.

Hyderabad – An Aviation Hub in the Making

Hyderabad is in the geographic centre of India and is within a two hours flying time to all the major cities in India and 3-5 hours flying time to all major cities in Middle East and South East Asia. GHIAL has the potential not only to become one of the main hubs in India but also for traffic between East & West. The proliferation of IT companies with headquarters has earned Hyderabad the reputation as India’s second Silicon Valley. The city is also a major centre for bio-technology and pharmaceuticals. Among the multi-national companies who have a presence in Hyderabad are Microsoft, Oracle, GE, Deloitte, HSBC, Baan, Infosys, Wipro and Satyam.”

Hyderabad has a population of 7.3 million inhabitants and a catchment area extending to 75 million people living within a couple of hours of the city. Currently there are 11 international airlines and 9 domestic airlines operating from Hyderabad flying to over 35 destinations. During the last one year, apart from KLM and Lufthansa, other domestic airlines have increased their frequencies. Thai Airways also was launched recently.

Project Details

Location
Hyderabad , India

Airport Opening Date
Target Commercial Operation Date: March 2008

Principal EPC Contractors involved
Larsen & Toubro – Airside & Landside Works
China State Construction & Engineering (HK) – Passenger Terminal Building Works and ATC Tower

Total investment
Rs.24780 million

Key Features
12 million pax per annum,A-380 compatible runway,
Modular Terminal Building and Business Hotel
State of art IT technology

With its gross domestic product (GDP) rising by more than 7% yearly, India is one of the world’s fastest growing economies. Booming manufacturing, services and export industries mean that more Indians are travelling than ever before with passenger numbers rising by double digits yearly.

Master Plan features
The initial phase of the new airport will be capable of handling 12 million passengers per annum (mppa) and more than 100,000 tonnes of cargo per annum. The ultimate capacity of the airport is over 40 mppa and 1 million tones of cargo per annum.

When the airport opens in 2008 its single terminal will be equipped with 12 contact boarding bridges, 30 remote stands, 62 Common User Terminal Equipment (CUTE) check-in desks and 24 self check-in kiosks, 45 immigration counters. The airport will have the latest IT systems and for the very first time in India - the Airport Operational Database (AODB) technology.

Airside Works
As part of its INR 5.18 billion ($115 million) contract, Larsen & Toubro (L&T) will construct the runway, taxiway and aprons capable of accommodating code F aircraft (including the A380 aircraft). It will also install the airfield lighting and aviation hydrant systems and construct the fire rescue station, airport roadways and cargo terminal.

Passenger Terminal
China State Construction Engineering (Hong Kong) apart from constructing the Passenger Terminal Building (PTB) will install the airport’s baggage handling system. It will also install the IT, electrical and mechanical systems for new terminal under the INR 6.88 billion ($153 m) contract with GMR Hyderabad International Airport Ltd (GHIAL).

Design Principles
The basic design of the passenger terminal building is simple, attractive and loose-fit. The fluid design is such that sequences of spaces are provided to facilitate easy and comfortable movement and orientation. The passenger terminal will initially cover 100,000 sqm of floor space that would ensure rapid transit between its Domestic and International concourses.

Another major attraction is the 'Airport Village' - a spacious covered area complete with shopping, kiosks and stalls where 'meeters and greeters' can interact with passengers. The airport village interiors will exude regional charm and flavour. There will also be a business hotel near the terminal building.

Business Development & Vendor Shortlisting:
GHIAL has selected Menzies Aviation Plc. for development and operation of cargo facilities – through the joint venture route. The current airport at Hyderabad handled 45,000 tonnes for the year 2006 - 2007 while the new international airport has a capacity to handle over 100,000 tonnes pa.

GHIAL would construct sufficient cargo facilities/ infrastructure as a part of the project, which would facilitate smooth movement of Pharma, IT and process foods from Hyderabad and its vicinity directly to various international/domestic destinations.

·GHIAL has awarded in-flight catering contracts to LSG Sky Chef & Sky Gourmet.

·GHIAL has awarded Reliance Industries the contract to operate and maintain India's first unique open access model in setting up the fuel farm inside the airport.

-GHIAL has awarded Novotel, Accor Group to operate and maintain a business hotel with four star facilities to host the transit and business passengers.

-GHIAL has awarded Nuance-Shopper’s Stop consortium for developing and maintenance of Duty Free, Retail facilities for domestic and international passengers.

GHIAL has engaged the services of a UK based consultant company to design the blue-print of the retail layout. The company will use its global expertise and experience in retail design and business development in shaping the retail landscape around the airport.

Going further, the visionaries of the new airport will build a 2500m² post-terminal landside Airport Retail Village that will be unique to the 'City of Nizams'.

Connectivity to the Airport
GHIAL is closely involved in supporting the Government of Andhra Pradesh efforts to improve and enhance connectivity to the airport.

The major access points to the Site are from NH-7 (on its west) and Srisailam SH (on its east) besides the proposed Outer Ring Road. Also a first of its kind elevated expressway (11.5 kms) will connect passengers from the city to NH-7 and from there to an expanded 4 lane NH road leading to the new airport.

Hyderabad Goes Online: Courtesy Sify

Sify.com has launched the first broadband and video website, www.hyderabadlive.in, for the city of Hyderabad. After the successful launch of mumbailive.in and bangalorelive.in, hyderabadlive.in is the third broadband city portal from Sify.com. www.hyderabadlive.in will enable the citizens of Hyderabad to access local content spanning Tollywood happenings, music, the hottest clubs and the city’s latest gossip, all in video.

Sify.com’s ‘Net Jockeys’ will also present video capsules that include city news, shopping, hangouts, party life and careers in the city. The broadband website also features live video feeds from traffic webcams stationed at key junctions of the city so citizens can plan their routes by checking the site for the prevailing traffic conditions. The website was launched by the South Indian superstar Nagarjuna at the Taj Krishna, Hyderabad.

Speaking at the launch, Raju Vegesna, chairman and managing director, Sify Limited, said “www.hyderabadlive.in is an important step in our objective of building strong city specific communities and catering to the local information needs of citizens of each of these cities. We aim to make Hyderabadlive a high-quality entertainment destination, especially for the youth of the city.”

V. Sivaramakrishnan, president, portals, Sify Limited, said, “We are really excited about the launch of hyderabadlive.in. After a remarkable response to mumbailive.in and bangalorelive.in, we believe that the people of Hyderabad will embrace it and truly make it come alive. We intend to introduce more such city-centric websites to create online communities as a platform to share their views, discuss local topics and build their own personal space online.”

Hyderabadlive will enable citizens to send greetings through the SMS to friends through the site by sending HYD followed by a space followed by the greeting to 4545, the mobile shortcode of Sify.com. Their SMS greeting will scroll across the home page of Hyderabadlive.in as a ticker for their friends to see. Users can also become citizen journalists, posting instant messages about interesting happenings in their city.

SOURCES:
EFYTimes.COM

Nektar Therapeutics To Set Up Multi-Million Dollar R&D Facility In Hyderabad

Nektar Therapeutics, the US-based novel drug delivery company, has decided to make India its second Research and Development (R&D) hub, with investments to create a discovery team and top class infrastructure.

The company, which has brought to the global market the world's first inhaled (powder) drug to treat diabetes (Exubera) with Pfizer, will build a modern complex on a 15 acre plot on the outskirts of Hyderabad.

Announcing the India plans, Dr Howard W. Robin, President & CEO told newspersons, "We would have upwards of 100 researchers and invest tens of million dollars in the R&D Centre, which will undertake frontline research".

Exubera, the non-injectable, inhaled insulin product, is also being brought to India, and the necessary clinical trials and regulatory approvals would be gone through by Pfizer, Dr Robin said in response to questions from newspersons.

Nektar Therapeutics has a robust portfolio of 11 products in the market, an equal number in clinical trials and four more in pre-clinical phase, encompassing a range of disease areas. It has both development and marketing collaborations with global majors like Pfizer, Novartis and Baxter.

The focus of the Hyderabad R&D Centre would be to use the company's proprietary PEGylation Technology, which ensures a delivery mechanism of drugs to the lungs, with greater performance, efficacy, reduce side-effects and overall have a great impact on the treatment of the disease.

The $2 billion-in-revenues company funds its R&D programmes through collaborations with global pharma majors, from royalties it gets on sales, through research grants, etc. In India too, it is open to collaborations with pharma majors, Dr Robin said.

SOURCES:
MoneyControl

The National Technical Research Organisation Is Coming To Hyderabad

The National Technical Research Organisation (NTRO), a premier scientific organisation under the national security adviser in the prime minister's office and engaged in the development and deployment of systems for national security, will be located near Hyderabad.

This was decided at a meeting of senior NTRO officials with the Chief Minister YS Rajasekhara Reddy in Hyderabad on Saturday. The NTRO's activities include aviation and remote sensing, data gathering & processing, cyber security, crypto systems, strategic hardware & software development and strategic monitoring.

It will have under its wing the National Institute of Cryptology Research and Development (NICRD), which will be the first of its kind in Asia. The NICRD will create a pool of experts in information security for industry and government.

It will have state-of-the-art laboratories like stimulation labs, digital fortress labs for financial security and design, develop encryption products for national security applications.

There will be strong linkages with academic institutions and industries. The NICRD will have headquarters in Hyderabad with a residential campus centres in other parts of the country.

The NTRO will also include the National Information Infrastructure Protection Centre (NIIPC) which will be India's first hi-tech critical infrastructure Protection Centre. It will provide cutting edge R&D in the area of critical information protection by harnessing competencies and capabilities in industry and educational institutions.

The NTRO will deploy sophisticated unmanned aerial vehicles for internal security and will have remote sensing satellite data archival back-up facility with value-added remote sensing image products generation facility. It will also have a Disaster Recovery Centre as part of a national information repository exchange generating and disseminating thousands of petabytes on real time for national security related activities.

Official sources said that in addition to serving overall national security requirements, presence of these centres will have a catalytic effect in creating security related professionals, products and services as a spin off catering to various other sectors of economy.

SOURCES:
Hindustan Times

Centre Approves Hyderabad Metro Rail Project

The Central Government has approved financial assistance of Rs. 1,639 crores for the Hyderabad Metro Rail project towards 20 per cent of the total project cost of Rs. 8,482 crores under the `viability gap funding' scheme. The announcement came on Thursday.

The Centre was inclined to consider a bigger grant for the project of which 60 per cent will be raised by the private Build, Operate & Transfer (BOT) developer and the rest by the State Government, said Hyderabad Metro Rail (HMR) Managing Director-designate N.V.S. Reddy.

"We expect to start work in October-November and could begin services from Miyapur to Punjagutta (Line 1 from Miyapur to L.B.Nagar) by 2009," he explained.

"The Government of India is very happy with our preparatory work for what is the biggest private public partnership project being taken up.

Never before was a 66-km metro construction taken up at a single go anywhere in the world," he said.

The Centre's Empowered Institution chaired by Finance Additional Secretary Khullar and attended by Planning Commission Advisor Rajendra Haldia and Director of Ministry of Urban Development S.K. Lohia gave the nod at a meeting held in New Delhi earlier this week.

Principal Secretary of Municipal Administration & Urban Development S.P. Singh, Advisor T. Stanley Babu besides Mr. Reddy represented the State Government.

Tender documents will be given to the five pre-qualified international consortia next Monday (May 7) for inviting technical bids which will be evaluated on `pass-fail' basis on safety, performance and technical specifications with help of consultants:

Span-Semaly of France and Delhi Metro Rail Corporation.

Financial bids will be invited from qualified bidders and one consortium seeking the least financial help from VGF will be given the entire project of elevated metro rail across the three routes.

SOURCES:
The Hindu

Dubai Based Al Fajer Properties Eyes Indian RE Through JV

Al Fajer Properties, one of the leading realty developers from Dubai, today announced its India investment strategy which will include developing world-class realty projects in India through a joint venture and creating a real estate fund to facilitate investments by small investors in Dubai properties.

The announcement follows its successful participation in the recently concluded Asian Real Estate Show in New Delhi. “We are convinced that there is ample opportunity for us to support healthy cross-border investments between the two countries both by developing projects in India through a joint venture, as well as by facilitating Indian small investors buy into high-yielding Dubai properties,” Dr. Shahram Abdullah Zadeh, Chief Executive Officer of Al Fajer Properties.

He said Al Fajer Properties will enter the Indian realty market with an outlook to develop three types of projects including commercial, gated residential community and townships.

Dr. Shahram said the Al Fajer is in talks with two leading real estate developers in India and the joint venture will be finalised soon.

“We have been monitoring the Indian real estate and investment scenario for over two years now. Despite the current price fluctuations in the real estate and property prices, our decision to enter this growth market is driven by our confidence in the strong economic fundamentals of India,” he said.

“We have looked at several locations - Gurgaon, Hyderabad, Gujarat, Mumbai and Chandigarh - for investments up to US$1 billion through a joint venture. We will be entering the Indian market once the joint venture deal is finalised with the right project at the right time,” he added.

The decision of Al Fajer Properties to enter India also closely follows the recent state visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister of the United Arab Emirates and Ruler of Dubai to strengthen bilateral relations and explore ways to increase two-way investment flows between the two countries.

“The opening up of the India real estate sector has fuelled significant interest among overseas realty players and we are keen to be part of this dynamic scenario,” Dr. Shahram said.

SOURCES:
MoneyControl

Appliance Firms Set Sights On Modular Kitchens

Consumer durable makers are looking at grabbing a piece of the pie in the modular kitchen space. Kitchenware appliance maker TTK Prestige, which has been testing waters in this space, plans to open exclusive showrooms devoted to modular display kitchens starting May this year. The first outlet will be in Bangalore and subsequently Prestige plans to open four more showrooms in the south - in Chennai, Hyderabad and Cochin.

Last month, home appliances major Whirlpool India had also announced plans to enter the burgeoning segment in the second half of the year. Godrej & Boyce is also betting large on the sector with Godrej Interio modular kitchens. Godrej & Boyce, which launched Godrej Interio, the umbrella brand for all Godrej furniture and interiors, last September, is poised to ramp up its presence in the space. The company is expected to invest Rs 100 crore to set up around 20 new retail stores in the coming year. Chandru Kalro, executive VP-marketing, TTK Prestige believes that the company is looked upon as a trusted brand or a ‘known angel’ in kitchenware, which easily extends to modular kitchens.

Players are bullish about the segment because of the booming real estate market. And the trend is expected to intensify. With a large number of young people buying homes, modular kitchen space is a fast growing market today. The young are more receptive and willing to spend on latest equipment and furnishings, and the market is just waiting to be tapped, say consumer appliance makers.

"The new modular kitchen market is huge. Almost 70 per cent of apartments, that have recently been furnished in the newer buildings of big cities, have installed modular kitchens," Kalro says. Arvind Uppal, managing director of Whirlpool India believes that the modern working woman values her time, appreciates high-end, technologically superior products and is willing to pay the price for them.

Prestige is eyeing the modular kitchen space as a separate venture, although it already has an extensive network of 185 outlets selling pressure cookers and other kitchen appliances across the country. Kalro says, "We realise that we require highly specialised formats to showcase options, colour variations and choice of materials." Last year, the pressure cooker maker claims to have sold eight modular kitchen kits per month on an average, priced at Rs 1-2 lakhs, from its outlets in Bangalore and via direct marketing. Their sales figures touched Rs 3.5 crore last year in the division and the firm is targeting Rs 5.5 crore this year.

"Our immediate goal is to become an established player in a growing segment,” Kalra says. Moreover, the company expects the new venture to infuse an element of ‘lifestyle aura’ into their existing brands."

SOURCES:
Business Standard

"Government Order" Paves Way For Fab City Project - It Marches Ahead...

With the Andhra Pradesh Government issuing an order allotting 100 acres of land to SemIndia, decks have been cleared for the proposed $3 billion semiconductor manufacturing Fab City here.

Acting cautiously in view of the controversy following certain allegations made by Opposition Telugu Desam party against the promoter, the government has made it clear that it would play a pivotal role in the development of India's first chip manufacturing facility rather than leaving the entire responsibility to SemIndia.

The much-awaited government order (GO) issued late Saturday has asked SemIndia to play the role of an anchor industry on the 100 acres. The government will allot the remaining 1,100 acres in Fab City to other developers.

SemIndia has been asked to develop infrastructure for attracting companies in the land allotted to it within five years. Assembling, testing, marketing and packing units will have to be set up with an investment of $75 million within 18 months providing employment to 2,000 people.

Under Phase II, a semi-conductor chip-manufacturing unit ($750 million) will have to be set up in three years thereafter, engaging another 1,000 people.

Under Phase III, an advanced semi-conductor plant with employment potential of 5,000 will have to be established within 5 to 7 years.

The government had announced in 2006 that it would allot 1,200 acres of land near the upcoming Hyderabad International Airport at Shamshabad for Fab City. Under the memorandum of understanding (MoU) signed with SemIndia, the government had agreed to allot 300 acres but in the GO the area has been further reduced to 100 acres.

SemIndia has been allotted 100 acres of land on 88 years lease at a nominal rate of Rs.1 per acre per year. It has been offered other concessions including subsidised electricity and water supply.
The GO was issued days after the main Opposition Telugu Desam party raised doubts about the project and SemIndia President and CEO Vinod Kumar Agarwal was asked to rush here from the United States to allay the apprehensions.

Blaming the government for the delay in launching the project, Agarwal had told a news conference on April 25 that the work could begin only after land was handed over to his company.

Agwaral has welcomed the government order. "This will help us to start executing our projects immediately. We will also work along with APIIC (Andhra Pradesh Industrial Infrastructure Corp) to plan and implement the Fabcity as a world-class semiconductor manufacturing cluster. This will also help the state of Andhra Pradesh to emerge as the leader of high tech manufacturing," he said.

The government has agreed to supply a maximum of 1.2 million units of electricity (50 MW) a day to the company at Rs.1.85 a unit for 15 years. Similarly, 5 MGD (million gallons per day) will be supplied for 15 years at Rs.15 a kilolitre.

Besides, the project will be entitled to full reimbursement of VAT and CST, exemption from other duties and benefits accruing to SEZ units as also policy incentives announced by the central government.

The state government will extend a training grant of Rs10,000 per head for up to 15,000 employees with the proviso that the training grant for a person shall not exceed 50 per cent of the total training cost. The government will also facilitate the establishment of a world-class engineering and technology university by the company.

SOURCES:
ZDNet India
Domain-B

Fab Power SOP Set At 50 MW

The State has decided to restrict the quantum of power to be supplied at subsidised rate to Fab City promoter SemIndia.

This will help the government to reduce the subsidy burden considerably from the original Rs 1,000 crore.

In the GO issued on Saturday, the government said power would be provided at a rate of Rs 1.85 per unit for 15 years from the date of commencement of commercial production subject to a maximum of 50 mega watts.

This means that SemIndia would have to pay the regu lar tariff for power drawn beyond 50 MW.

In return for the allotment of land, the first $75 million investment for assembling, testing, marking and packing unit, with an employee potential of 2,000, should be done within 18 months from the date of allotment of land.

Another $750 million for semiconductor chip manufacturing unit with 1,000 employees should be set up three years from the date of allotment.

In phase three, the company should invest $2.25 billion for an advanced semiconductor plant with 5,000 employees. This should happen in five to seven years.

SOURCES:
Deccan Chronicle

SemIndia Gets Seat In Fab Vehicle

According to sources, a high-level deci- sion was taken to allot a maximum equity of 11 per cent to SemIndia in the SPV, though officials had insisted that its position should only be advisory.

The State government on Saturday issued the order on the controversial Fab City project, retaining promoter SemIndia as equity holder in the Special Purpose Vehicle.

Sources told this correspondent that a high-level decision was taken to allot a maximum equity of 11 per cent to SemIndia in the SPV, though officials had insisted that its position should only be advisory.

SemIndia has already been given 100 acres of land for 66 years at a cost of Rs 1 per acre, power at Rs 1.80 per unit and water at Rs 15 per kilo litre for 15 years.

In fact, when officials proposed to fix a rate of Rs 20 lakh per acre for the land to be given to SemIndia, Chief Minister Y.S. Rajasekhar Reddy had reportedly directed them to allot land on lease free of cost.

The rider was that the entire investment promised by the company should be made in seven years.

According to the G O Ms No 94, “SemIndia Pvt Ltd shall participate with Andhra Pradesh Industrial Infrastructure Corporation in the Fab City SPV which will develop the state-of-the art infrastructure...” Sources said that the APIIC would retain 51 per cent equity and the remaining would be given to top financial institutions. It is known that banks such as ICICI and HDFC had evinced keen interest in the project.

The government has urged the APIIC to go in for a global Expression of Interest to rope in experienced and established developers for Fab City.

The government is in two minds about SemIndia. The Chief Minister had decided to restrict it only to 100 acres. But at the same time, the government has allowed it to be an SPV partner.

SOURCES:
Deccan Chronicle

Rs 20 Lakh Home Loan Now In Priority Sector

The Reserve Bank of India on Monday notified the norms to banks in relation to priority sector lending. The norms allow banks to include direct finance to corporations for agriculture and allied activity of up to Rs one crore as priority sector sector lending against the earlier ceiling of Rs 20 lakh.

The norms also allow banks to classify home loans of up to Rs 20 lakh from now on as priority sector lending compared to the earlier ceiling of Rs 15 lakh.

The Reserve Bank of India said “loans up to Rs 20 lakh to individuals for purchase/construction of dwelling unit per family, (excluding the loans that are granted by banks to their own employees) and loans given for repairs to the damaged dwelling units of families up to Rs 1 lakh in rural and semiurban areas and up to Rs. 2 lakh in urban and metropolitan areas” would qualify as priority sector lending.

Referring to education loans, priority sector lending would “include loans and advances granted to only individuals for educational purposes up to Rs 10 lakh for studies in India and Rs 20 lakh for studies abroad, and do not include those granted to institutions”.

The new norms would be effective immediately, the Reserve Bank of India’s chief general managerincharge C.S. Murthy said in a statement.

According to the statement, the targets and subtargets under priority sector lending would be linked to Adjusted Net Bank Credit (ANBC) (Net Bank Credit plus investments made by banks in non-SLR bonds held in HTM category) or Credit Equivalent amount of OffBalance Sheet Exposures (OBE), whichever is higher, as on March 31 of the previous year.

The outstanding FCNR (B) and NRNR deposits balances will no longer be deducted for computation of Adjusted Net Bank Credit for priority sector lending purposes.

Investments made by banks in the Recapitalisation Bonds floated by Government of India will not be taken into account for the purpose.

SOURCES:
Deccan Chronicle

Janapriya UTOPIA Phase II

TALE OF TWO CITIES

While New Hyderabad shines, proudly flaunting its classy bistros, glitzy stores and nightclubs, the Old Town gropes through its narrow, neglected bylanes to let the world know that it, too, breathes.

With Charminar on one side, and Cyber Towers on the other, the four centuries’ Old city seems to be fast acquiring an odd equation. Some 20 years back, the dusty lethargic city was known for its minarets, temples, colonial architecture and pearl markets, but now it is known for something else. Something very modern, very trendy and very technical.

Top techie companies have chosen Hyderabad, which if indications are right, is going to be the largest city in the subcontinent in the near future. Roads are being widened, flyovers are fast nearing completion, nightclubs and pubs are mushrooming, multiplexes and shopping malls are thriving. The influx of global software giants and the subsequent economic growth have resulted in posh boutiques, classy bistros, and new cultural influences thanks to new people from all over the world.

At the same time, the city of Nizams, set up four hundred years ago by the fourth king of the Qutub Shahi dynasty, still exists on the other side of the Musi, in stark contrast. Take a stroll on the streets of Old City and you are altogether in a new world. The Hyderabad of glitzy evenings and fine living is unfamiliar to the back alleys of Puranapul, Dhoolpet, Rahmatpura, Dil Chowraya, Jiyaguda, Pattargatti, Karwan, Aliyabad, Barkas, Ghode Ki Khabar, Mangalgat, Birbal Bagh… Profesor Subramanyam, who has lived in Hyderabad for 50 years, has been monitoring the winds of change. “The Old city is in a total eclipse. Neglected, ignored, and, in some parts, rotting away. The infrastructure is falling apart and the benefits that development has brought to the New city haven’t even started to seep in here. It’s hard to imagine the two towns are actually one unit.” HUDA vice chairman Jayesh Ranjan clears the air there, "HUDA is working on a master plan to develop the Old city on the lines of the new one. New infrastructure will emerge, but history will be preserved."

Shopping, in the Old town, is not about air-conditioned malls, and recreation is not about chilling out at a coffee shop in the early evening. Even schools aren’t anywhere at par with those in the New town. Kadir Ali, a bussinessman and parent, says, “We had to relocate to Banjara Hills because the schools in the old city were just not up to the mark. Even what kids can do for recreation is all the way across town.” The contrast is striking. When flyovers crisscross busy intersections and concrete structures dot the skyline in the New city, giant archways and many windowed homes still remain in the Old. “The world has to change, and so has the city.

Many cultures existed and toppled. But if the essence of a city is as remarkable as that of Hyderabad, there has to be a way to preserve the charm too,” says Manoj Menon, General Manager of a software firm.

He hits the nail on the head. Will the making of a greater Hyderabad will trample on the old city charm and culture? Says Asasuddin Owaisi, an MP from Hyderabad, “The city is developing at an unprecedented pace. It will embrace modernity and infrastructure, but keep its traditional values intact. I really feel it’s time we had shed the two-city image and sought an integrated Hyderabad.”

SOURCES:
Times Of India

HMDA Approval Required For New Ventures In Following Mandals

New DTCP Layouts in the vicinity of the city will no more be possible with the upcoming formation of Hyderabad Metropolitan Development Authority (HMDA). Several large projects proposed by developers and which are in land acquisition stage or pre-approval stage will have to be approved by HMDA and not DTCP. Developers who have priced the layouts as per DTCP regulations and collected advance from buyers are likely to be under pressure.

New Layouts in the following Mandals will require HMDA Approval.

Hyderabad District Mandals:
Ameerpet
Trimulgherry
Marredpally
Amberpet
Himayatnagar
Nampally
Shaikpet
Khairatabad
Asifnagar
Saidabad
Bahadurpura
Bandlaguda
Secunderabad
Musheerabad
Golconda
Charminar

Ranga Reddy District Mandals:
Shankarpalli
Serilingampalli
Balanagar
Qutubullapur
Medchal
Shamirpet
Malkajgiri
Keesara
Ghatkesar
Uppal
Hayatnagar
Saroornagar
Rajendranagar
Moinabad
Chevella
Shabad
Shamshabad
Maheswaram
Ibrahimpatnam
Kandukur
Yacharam (part)
Manchal (part)

Medak District Mandals:
Tupran
Wargal
Shivampet
Jinnaram
Narsapur
Ramachandrapuram
Patancheruvu
Mulugu
Hatnur (part)
Sangareddy

Nalgonda District Mandals::
Chotuppal
Bibinagar
Bhuvanagiri
Bommalaramaram

Mahbubnagar District Mandals::
Kothur
Farooknagar (part)

SOURCES:
Exclusive Ventures

1. GRANADA - Spanish Villas At Shamirpet 2. Smart Homes At Qutbullahpur

Banyan Tree Retreat Unviels Phase-II and Phase-III

Shadnagar In The SpotLight

That the Outer Ring Road (ORR) project has set off a realty boom is old news. However a few areas that are close to ORR and will now merge with Greater Hyderabad have suddenly sprung into prominence, pushing up demand and rates of land there.

Shadnagar,which was so far a small town on the edge of Mahbubnagar is now emerging as an attractive destination for those seeking to invest in land. Jagadesh Reddy, managing director of Headway Properties whose venture The Origin is in Farooqnagar mandal here, says, `Shadnagar has been in focus ever since the ORR was announced because it is just 20 km away from the Rajiv Gandhi International Airport.``

Earlier Shadnagar town was dependent on oil factories, steel units and plywood companies. However, the recent real estate boom in and around Hyderabad has changed all that. Rajesh Naik, a real estate agent says `Five years back, Shadnagar was just another sleepy town, but now the real estate scene has added glamour to it. With land sold at attractive rates, people here have grown prosperous. Those who stayed in small kachcha buildings are moving to better residences and have become rich landlords. Land rates along the Parigi Road have appreciated by 125 percent over a year. Anybody who invests in approved layouts near Shadnagar is sure to benefit.'' However investors must ensure that the land they are considering is DTCP approved.

SOURCES:
Times Of India

ALIENS ELITE At Miyapur

HUDA To Raise Rs2,500 Crores By Auctioning "CALIBRE"

Huda to raise Rs 2,500 cr Hyderabad Urban Development Authority (Huda) has decided to raise at least Rs 2,500 crore by auctioning 250 acres of land in Kokapet in Rajendra Nagar mandal of Ranga Reddy district.

The Huda has named the area “Calibre” which will be developed as special economic zone (SEZ) for software companies. Huda is likely to invite reputed IT firms to participate in the auction once the date, rules and regulations of the auction are finalised.

“We are expecting at least Rs 10 crore per acre,” said vice-chairman Jayesh Ranjan said. He said that the ‘Calibre” was hassle-free land unlike the 70 acres of the ‘Golden Mile’ which had dragged the government into a controversy after the land was sold at Rs 14 crore per acre in an open auction.

The Huda was forced to return the money to 11 successful bidders after some persons approached the High Court claiming to be the owners of the land.

The Huda has decided to raise Rs 5,210 crore in the current financial year.

The Huda will remit Rs 2,200 crore in government’s treasury and utilise Rs 1,500 crore for the Outer Ring Road project, Rs 450 crore for the elevated express and Rs 500 crore for regular work.

SOURCES:
Deccan Chronicle

Your Fingerprint Holds The Key

In these uncertain times when burglaries have become a common affair, it is advisable that one secures his house and possessions effectively.

And for those seeking to be stylishly secure, the market is ready with provisions that apart from being aesthetic and appealing also promise to be more secure .

A collection of such equipment is available with ACE Hardware Collection which opened recently near Hotel Taj Deccan in the city.

Among a horde of safe locking measures, the store also boast of locks that has your fingerprints acting as a key to open.

These locks installed at the entrance come with a facility to store fingerprints of all the family members. When one needs to open the door, a finger has to be placed in the slot provided. And lo, the lock clicks open.

"These locks come with a provision of storing 100 fingerprints which is useful for securing bigger premises such as offices, factories and institutions also," explains Kamala Prasad of the store. Some of these come with extra-secure option of a number code dial.

Then, there are some locks with speaker facility which blurts out caution messages when unauthorised persons, not matching the stored fingerprints, tries to open them.

The series exported from Korea, Taiwan and China come in a range of Rs.20,000 to Rs. 35,000.

Also available are what is called Computerised Key locks. Here, a key is exclusively prepared for a particular lock and is made in such a way that a duplicate is not possible.

Every lock and key is numbered and if a duplicate is required, the owner has to approach the company for the same. "It ensures that no does not get a duplicate prepared and gain entry," says Mr. Prasad.

Not to miss at ACE Hardware Collection (Ph.64555367) is the small collection of safes that are operable with code locks and fingerprints.

Snugly fitting into a cupboard, the safe can assure peaceful sleep for the family, promises Mr. Prasad.

SOURCES:
The Hindu

Signs Of Stabilisation In Realty Prices

The phase might be temporary. But believe it or not, there are signs of stabilisation in realty prices. T. LALITH SINGH lists the factors responsible.

The real estate scenario in the city and suburbs seems all set to enter the much awaited cooling-off phase and thereby bring some relief to the middle class. While some sort of ambiguity stalks the property scene on the amount of relief, there is near unanimity that the apartment flat prices might not spiral the way they kept doing for the last few years.

Though the land prices have almost stabilised with very few locations witnessing a small doses of rise, flats too are not growing costlier, industry experts feel. Some even hope that they will come down a bit. This could come as a solace for the middle class as the rates have escalated so high in recent times that buying a plot had turned a distant dream.

Within the city, vacant land for development is available in very small patches and a trend to acquire old buildings and pull them down for apartment structures gained currency.

The immediate city vicinity offered an appropriate space for the developers to go in for a series of apartment blocks. But caught in the boom, the prices rose so quickly that for many, they too turned unaffordable.

In the belt ranging from Miyapur-Chandanagar-Gachibowli, the going rate for properly done apartment happens to be in the range of Rs.2,000 to Rs.2,500 per sq.ft. It is a different matter that flats here were hardly in demand three years ago and what were available were sold for a price range of Rs.700 to Rs.900 per sq.ft. then.

In zones preferred by the software and corporate employees, the price has further soared and gone up to Rs.3,000 per sq.ft. and Rs.3,500 per sq.ft. The luxury apartments -- based on the amenities and builders -- were even being sold upto Rs.5,000 per sft.

A section of the construction industry feels that the prices could come down a bit soon, though one cannot expect them to fall drastically or roll back to old rates. The reasons cited to buttress the argument are many including proposed supplies exceeding the actual demand, rigid adherence to newly imposed construction norms and the possibility of lower built-up area gaining currency.

Then, there are supportive grounds of frequent tinkering with home loan rates and subsequent changes in eligibility factors. Also cited is the recently announced Government housing project of Rajiv Swagruha applying some brakes on the unprecedented price rise.

"In some parts of the suburbs, construction activity is planned to a level that could end up with supplies exceeding the demand in that price category," reasons C. Prabhakar Rao, president of Greater Hyderabad Builders Federation. Coming days would witness abundant availability of flats at Bachupally, Nizampet and other happening spots but the builders might end up with few takers at the present price tag.

Many small time builders might find the going getting tough following the rigid FSI norms, restrictions on mortgage, setbacks, fire safety norms apart from procuring land at a price they can afford. In many places, the concept of owners giving their land for development had taken a beating in recent times as they seem to prefer selling it outright.

"When lucrative prices are offered, the owners think in terms of selling the land instead of entering into development and waiting for an apartment to be completed. It easily takes 18 to 24 months for them to expect returns if given for development. They no more appear keen on waiting," says Mr. Rao. Hence the prices might come down by at least 10 per cent to 15 per cent, he says.

However, Builders Forum President C. Sekhar Reddy hotly contends the premise of rates coming down on grounds of supplies exceeding demand.

"The demand for housing is actual and a slash in prices on this count is not really possible," he says.

Changes in home loan rates and eligibility could end up with some effect and in view of the high costs involved, many might turn realistic in days to come. "It is going to be a compromise between aspiration and affordability. From dreaming for luxury flats, many will be moving in the direction of looking for two bedroom flats," he points out.

SOURCES:
The Hindu

Kokapet Continues To Lure Investors

The Golden Mile project at Kokapet continues to allure investors despite running into rough weather because of the title deed dispute. Even as the HUDA was finalising options to raise required money to refund Rs.400 crores paid by the bidders as it could not hand over their plots because of Court stay, interestingly it is learnt that an international agency offered to buy the entire layout as a single lot at the earlier auctioned price.

Title deed dispute

"The agency is well aware of the title deed dispute yet it is keen to buy the property because of its inherent potential and the strategic location. It is convinced that the land belonged to Government, " say HUDA authorities.

"The Chief Minister who has been informed of the latest proposal gave his consent to consider it," it is said.

The Kokapet auctions in July last year generated fierce bidding with several big players from outside the State too participating. The HUDA netted Rs. 702 crores from 15 plots, each in the range of two acres to six acres totalling to 70 acres and one of the plots fetched it the highest price of Rs.14.5 crores per acre.

High Court stay

The bidders who made plans for commercial, hotel and residential projects paid up Rs. 400 crores. With the High Court granting stay over a petition that the land did not belong to Government but was part of private lands purchased during Nizam's time, the HUDA could neither develop infrastructure in the layout nor could hand over the plots to the bidders.

With the stay not vacated even after eight months, the bidders represented to the HUDA and the Chief Minister to refund their money. The Government agreed to refund the money and HUDA started exploring options to mobilise the money. One of the options was to finalise the `Development Agreement' on the Tellapur Integrated Township to get the first instalment of Rs. 405 crores from the consortium that won the bid for development of 400-acre Tellapur township.

Another option was to auction leftover plots in HUDA layouts at Nandagiri Hills, Nalagandla, Miyapur etc., to partly meet the required Rs. 400 crores to which HUDA's own resources would be pooled. The last option is the international agency willing to buy out the entire 70-acre Golden Mile project area.

All the three proposals would materialise towards May-end and whichever proposal would fructify first, the proceeds would be utilised to refund the amount to Kokapet bidders, it is learnt.

SOURCES:
The Hindu

Govt To Take Direct Control Of Fab City

Amidst the controversy over the issue of giving away management control of the proposed Fab City to SemIndia, the state government has decided to take direct control of the project.

The original plan had been to develop the 300-acre Fab City through a special purpose vehicle (SPV) comprising SemIndia with 89 per cent stake and the Andhra Pradesh government with 11 per cent equity.

Within the 300-acre Fab City, SemIndia was to be given 75 acres for setting up a fab and facilities for allied activities.

However, for SemIndia agreeing to remain away from the management of the Fab City, the company would get another 25 acres. "Instead of 75 acres, SemIndia will now be allotted 100 acres," an official source said. The price at which the land would be allotted to SemIndia is yet to be decided.

The project will now be developed on a public private partnership model and not through a special purpose vehicle (SPV).

"We are working on a different model," Andhra Pradesh Industrial and Investment Corporation managing director B P Acharya told TOI. However, he said the details of the model would be given in a government order to be issued on Saturday.

The change of plan in terms of asking SemIndia to just be a unit in the Fab City and not a developer is said to be a result of a meeting between Vinod Agarwal and associates and chief minister Y S Rajasekhara Reddy on Thursday.

"The original plan of the government having a minority stake in Fab City is seen as the bone of contention while other allegations over SemIndia and its promoters -levelled by TDP - are personal. As far as the government is concerned, a due diligence about Vinod Agarwal was done by the state with the help of the external affairs ministry and there was never a problem with his credentials," the source said.

SOURCES:
Times Of India

Work Begins On BITS Pilani Campus In Hyderabad

The Birla Institute of Technology and Science (BITS)-Pilani Saturday began construction of its Hyderabad campus with Chancellor K.K. Birla announcing his plans for setting up an institute of management here.

Chief Minister Y.S. Rajasekhara Reddy laid the foundation stone of the new building at Jawaharnagar, Shameerpet, about 25 km from here, in the presence of Birla.

The proposed campus in Hyderabad will be the fourth of BITS-Pilani. The main campus is at Pilani in Rajasthan while the other two are at Dubai and Goa. The campuses presently have 18,000 students, including off-campus students.

Speaking on the occasion, Dr KK Birla, noted industrialist and Chancellor of BITS, said he planned to set up an institute of management in Andhra Pradesh on the lines of Indian Institute of Management (IIM), to which the chief minister assured full support from the government.

"After the Hyderabad Campus is completed, we would like to diversify and establish an institute of management on the lines of IIMs. At my age, one may call it a dream. But I hope this dream will turn out to be true," revealed Dr KK Birla.

He said that the Hyderabad Campus of BITS will be a world class campus of high quality replicating all good educational programmes at BITS, Pilani. "The Goa Campus of BITS is regarded, from the angle of architecture and beauty, as the best institute in the country. Our aim will be to make the Hyderabad Campus even superior to the Goa Campus," he further added.

He said that the Chief Minister Dr YS Rajasekhar Reddy had invited him way back in October 2005 to set up a campus of BITS, Pilani at Hyderabad. Prior to that many MPs from the state had requested him in this regard.

"You (Rajasekhar Reddy) were so persuasive that I had to accept this challenge of establishing the vast campus in Hyderabad. A challenge it is, as on Sunday, the 18th November 2007, just a few months hence, on the holy festival of Gopashtami connected with Bhagwan Shree Krishna, I shall be entering the 90th year of my life. In spite of my age I have accepted this challenge," he stated amidst loud applause from the crowd.

He said BITS was the only university, which is privately funded by trust/trusts set up by the Birla family. Additionally it also offered scholarships to 22% of students from its own budget. The system attracts the best young minds from the country and, every year, over 20 Board toppers from among the 26 Boards join BITS.

Dr Rajasekhar Reddy profusely thanked Dr Birla for deciding to set up BITS campus at Hyderabad. "It is a dream come true for us," he said and announced waiver of Rs 2.5 - Rs 3 crores that BITS was to pay to Hyderabad Urban Development Authority towards statutory charges. "We assure you from Andhra Pradesh government that we will do everything possible to make your efforts easier," he said.

Referring to Dr Birla`s intent to set up a IIM like B-school, Dr Reddy said he would not like to sound greedy but would request Dr Birla to be benevolent to set up the B-school at Hyderabad or anywhere in Andhra Pradesh. Later, Dr Reddy told media persons that he would offer whatever facilities required for the proposed B-school.

Birla said the proposed institute would be set up in two years and it would also have tie-up with a foreign university.

Talking about the BITS-Pilani campus here, he said it was coming up on 200 acres of land with an investment of Rs.2.8 billion and would be ready by August 2008.

The Hyderabad campus of BITS-Pilani will start offering degrees in engineering and sciences from the 2008-09 academic year and the initial intake would be around 600. Birla said the intake would be doubled each year and the entire institute with full capacity would be ready by 2011.

Having established its name as a premier institute for technical education on par with IITs and having three campuses including one in Dubai, the Birla Institute of Technology and Science (BITS) is aiming high. BITS-Pilani is a national-level institute for higher education and a deemed university. It is rated as one of the best and among top 10 technical institutes of the country.

SOURCES:
Hindustan Times
Indian eNews

SemIndia Sets Q4 ’09 Target For Operations

SemIndia Fab Pvt. Ltd, which is setting up a $3 billion (Rs12,300crore) semiconductor manufacturing complex in Hyderabad, expects to start production by the fourth quarter of 2009, a year after finishing construction of its factory, the company’s chairman and chief executive Vinod K. Agarwal said.

An assembly, testing, manufacturing and packaging facility, coming up at an investment of $100 million, will be operational in the next 12 months, Agarwal said.

“We have roped in three equity investors into the project already—Flextronics International Ltd, Xalted Networks and Sandalwood Partners," Agarwal said, while declining to comment on the size of their holdings. About $30 million for the assembly and testing facility has been committed by Sandalwood Partners, the venture capital firm’s managing partner Bob Kondamoori said.

Agarwal said SemIndia is waiting for the state government to announce incentives on power, water and transfer of land to the company before beginning construction of the project. The company also expects the government to announce its equity contribution to the project. Investments from Advanced Micro Devices, the world's second-largest chipmaker and a partner in SemIndia, will depend on the Andhra Pradesh administration's decisions. The government is to pick up 11% equity, with SemIndia promoters and strategic investors contributing 89%, Agarwal said.

SOURCES:
LiveMint.COM

BITS Hyderabad Campus Foundation Stone Laying Ceremony On April 28th

Success of an Institution undoubtedly begins with believing in one’s worth, trusting one’s insight, nurturing oneself, having a goal, devising the right strategies and spreading one’s wings.

The foundation stone laying ceremony of BITS Pilani Hyderabad campus at Jawahar Nagar Shameerpet scheduled on Saturday 28th April 2007 by the Hon’ble Chief Minister of Andhra Pradesh Dr Y S Rajasekhara Reddy in the presence of Dr K K Birla Chancellor of BITS Pilani is part of a long unfolding story. It is an outcome of the Birla family’s active and dedicated involvement as well as commitment over hundred years for the cause of education.

With the humble beginnings as a pathshala in the year 1901 to educate Shri. G. D. Birla who is one of the doyens of Indian industry, the Birla Institute of Technology and Science “BITS” located at Pilani Rajasthan became a deemed to be university in 1964. Since 1979, BITS Pilani has been participating in the human resources development activities of a vast spectrum of Indian corporates by integrating the working environment of the employees with the learning environment required by the Institute by offering an array of work integrated learning programmes. Apart from the Pilani campus, BITS has a campus at Dubai which is in operation from the year 2000 and a campus at Goa in operation from the year 2004.

Considering that Human resources have become more and more important than natural resources in determining the wealth of a society, BITS Pilani has embarked on the Hyderabad campus project to provide a serious, focused and rigorous environment with state of the art facilities and operate on the cutting edge of knowledge and pedagogy.

Greatness of an Institution not only depends on its standing but also on which direction it is moving and for sure BITS Pilani is moving in the right direction.

Birla Institute of Technology and Science "BITS", Pilani Rajasthan is a Leading University in India offering degrees in Engineering, Management, Pharmacy, Sciences, Engineering Technology, Information Systems, General Studies, Finance, etc presently at Pilani, Dubai, Goa campuses and in the near future at Hyderabad campus. BITS Pilani also offers an array of work integrated learning programmes for HRD of a vast spectrum of Indian corporates.

SOURCES:
OpenPR

Cement Bag Will Cost Rs 10 More

The government has finally succeeded in convincing the cement manufacturers to supply48 lakh tonnes for the Indiramma housing scheme. Compared to last year's price, a hike of Rs 10 per bag was also announced. This decision was taken at a meeting between chief minister Y S Rajasekhara Reddy and cement manufacturers on Tuesday.

After the meeting, home minister K Jana Reddy said that the price of cement for Indiramma houses in Srikakulam, Viziangaram and Visakhapatnam would be Rs 160 per bag as the cost of transportation was high.

For East Godavari, Nellore and Chittoor, the supply price would be Rs 155 and for all other districts it would be Rs 145 per bag. Last year, the prices were Rs 135, 145 and 150 respectively.

The government had placed an order of 20 lakh tonnes with cement manufacturers last year and about 9 lakh tonnes of cement is yet to be delivered. The backlog cement will be supplied at the old price.

Tuesday's decision, Reddy said, would help the government save Rs 400 crore on cement as the market price was around Rs 220 per bag. Each beneficiary would get about 40 bags of cement. Godowns were also being arranged to store the supplies, he said.

Jana Reddy added that a special drive would be launched to eliminate land mafia, particularly in Hyderabad and Cyberabad. He said that a meeting with senior police officials was convened on Monday.

The government had received complaints from MPs including V Hanumantha Rao that the land mafia was creating problems in implementation of the programme. The police department was being geared to tackle the issue.

SOURCES:
Times Of India

GHMC Favours Greater Say In Administrative Functions

As Greater Hyderabad Municipal Corporation continues to evolve, civic works done by different departments and their varied responsibilities, which could possibly lead to turf battles is just beginning to unravel.

Hyderabad Urban Development Authority's declaration to retain control on the building regulation activity for at least one more year despite the GHMC formation has not gone down well with the latter.

Considering that the property tax collection in all the erstwhile municipalities is poor, the revenue accrued from granting permissions for constructions is said to be quite substantial and could be up to Rs. 200 crores.

It is being pointed out that HUDA giving permissions for all high rise buildings of more than ground plus two, but asking the municipalities to regulate the activity without any financial or infrastructural support had not worked.

GHMC officials fear the same story could be continued if they have to only "regulate" building activity but have no power to give or deny building permissions since all these areas come under it for all administrative and financial functions.

Hence, it is contemplating to write to the Government seeking proper directions so that the building activity is regulated by the new body and also for overall planning purposes. In the meantime, GHMC Commissioner C.V.S.K. Sarma has asked municipalities to ensure there is no disruption and dislocation of civic functions during the transition stage and also sought weekly reports from the commissioners who are now deputy municipal commissioners.

He also hiked their financial powers depending on the municipality's grade.

SOURCES:
The Hindu

Greater Role For Sanjay Jaju At GHMC

He might have endured a few days of uncertainty but it is now clear that erstwhile MCH Commissioner and re-designated Greater Hyderabad Municipal Corporation (GHMC) Additional Commissioner to Special Commissioner, Sanjay Jaju, has become the most powerful civic official for entire capital region.

Even if the post of Special Commissioner is causing confusion since the MCH Act is yet to be amended, it has been a windfall for him since his jurisdiction has now increased from 170 sq.km to 650 sq.km., including all the adjoining municipalities.

As per the official delegation of powers which had come into force and decided by the top bosses, not only all "routine service matters" and files will be routed through him but he will also be exercising powers of the Commissioner for the "day-to-day, routine management and coordinating activities of field functionaries".

Mr. Jaju will also be effectively in charge of the crucial town planning cell as he will be heading the building committee which gives permissions beyond ground plus two and up to five floors.

He will also release plans after counter signature of GHMC Commissioner and Special Officer C.V.S.K. Sarma.

For multi-storied buildings permissions of more than five floors, there is a separate technical building committee with final plans to be released by Special Commissioner and from him to Commissioner for final approval.

Zonal Commissioners will continue to give permissions for ground plus two floors.

Mr. Jaju will have powers to sanction works and expenditure up to Rs. 20 lakhs in the entire GHMC area while sanctions above Rs. 20 lakhs and up to Rs. 50 lakhs will be submitted to the standing committee presided over by Mr. Sarma.

Additional Commissioners in the head office like those looking after Planning and Projects, Works, Health & Sanitation, and Zonal Commissioners are now empowered to accord administrative sanction to works up to Rs. 5 lakhs to a ceiling of Rs. 1 crore.

All other Additional Commissioners will have a ceiling of Rs. 25 lakhs.

The Special Commissioner's new powers cut across administrative, works, finance, health and sanitation, urban community development, sports, advertisements,

traffic and transportation wings since the existing delegations of powers and functions made to additional commissioners will continue under his overall supervision.

He can also lease GHMC properties of all categories up to one year and "all other routine matters of employees of GHMC as was exercised as MCH Commissioner."

SOURCES:
The Hindu

Sify Sets Up Tech Centre In Hyderabad

Sify, a leading Internet, network and e-commerce services provider, has set up a technology centre in Hyderabad at an investment of about Rs 5 crore. The company is also looking at setting up a campus in the city. ``The centre will employ about 500 people by this year-end. It will focus on infrastructure management services, custom applications and development and network operations.

We are also in talks with the state government for acquiring land to set up a campus in the city,'' said Raju Vegesna, managing director & CEO of Sify on Thursday. Presently, the company employs over 4,000 people and has revenues of $140 million.

SOURCES:
IndiaTimes

Feasibility Study Conducted For Sky Bus Metro Project

A Techno-Economic feasibility study for the implementation of the Sky Bus Metro Project in Hyderabad was conducted by the Konkan Railway Corporation Ltd but no time frame could be fixed as to when it is expected to be approved, the Rajya Sabha was informed on Friday.

The study was conducted for a private firm M/s Doxport Technologies, Squadron Berhad, Malayasia, with the permission of the Government of Andhra Pradesh, Minister of State for Railways R Velu said in a written reply.

The study covered 22 kms upto Gudimalkapur (from Hyderabad) which has 19 stations, he said. The total estimated cost of the project is Rs 1,782 crores (2006-07).

Velu, however, added that no decision has been taken on the time frame, by which the project is expected to be approved.

SOURCES:
The Hindu

Genpact To Set Up IT SEZ At JawaharNagar

Business process outsourcing giant Genpact is setting up an IT SEZ in Andhra Pradesh. The state government has allocated 50 acres of land at Jawahar Nagar near Hyderabad and the company is planning to invest Rs 100 crore for setting up a new facility.

Addressing a press meet on Friday, state information minister Anam Ramanarayana Reddy said, the cabinet had cleared the proposal for land allocation. ``The new facility will provide employment to over 5,000 people,'' he said.

When contacted, an official of Genpact said, in order to set up the facility, the company had to get a notification from the Union commerce ministry. ``As we have received approval for land acquisition, we will soon be approaching the commerce ministry for getting SEZ status,'' he said.

According to the state government estimates, Genpact is one of the largest employers in the ITES sector. ``The company had already invested Rs700 crore in the state and employs over 8,000 people,'' said the minister.

In an effort to spread the growth and usage of IT, the state government is also planning to set up 10 IT hubs in major towns. ``We are in the process of setting up integrated satellite IT townships around Hyderabad and surrounding districts. The state will also house 29 IT SEZs with an estimated built up space of about 80 million square feet. This will create employment of over 8.45 lakh,'' said Mr Reddy.

IT sector currently employs over 1.5 lakh people and the government is targeting to generate over 2.3 lakh emplioyment opportunities in the sector by 2009.

The cabinet has also cleared a proposal to set up a sports hostel at Gachibowli near Hyderabad at an investment of over Rs 72 crore. ``This is line with our preparation to host the 4th Military World Games in October this year. The hostel will provide accommodation to over 2,000 athletes,'' the minister said.

SOURCES:
Economic Times

SemIndia Awaits Land Transfer For Fab City

Allaying apprehensions about SemIndia Inc.’s ability to implement the proposed $3 billion Fab City here, the company’s founder and CEO, Vinod Kumar Agarwal, said on Wednesday that the SemIndia was waiting for the transfer of land by the Andhra Pradesh government to begin the work.

“We are not asking for more incentives from the Andhra Pradesh govern ment, as alleged by some quarters, but are waiting for the Government Order transferring 300 acres of land to SemIndia to begin work,” Dr. Agarwal told reporters here.

“No land has been transferred to us until now, though we were allowed to build a boundary wall around the land to maintain the Special Economic Zone status of Fab City,” Dr Agarwal said.

He said SemIndia was also waiting for the government’s decision on the equity component it will have in Fab City SPV, a company floated by SemIndia, and the tariff for the supply of water and electricity to the project. “Fab City SPV has five directors, of whom three are government officials,” he said.

Dr Agarwal said the SemIndia and its partners— AMD, Sandalwoord Partners and Xalted Network— were serious about building the Fab City.

“It is up to the Andhra Pradesh government to decide whether it wants Hyderabad to be the centre of the semiconductor manu facturing industry in India. We are keen on taking up and completing the project by 2009,” he said.

According to Bob Kondamoori, a partner in Sandalwood Partners, the venture capital firm had invested $10 million in SemIndia and had committed another $20 million for the project. “We believe Vinod has the technical expertise to complete the Fab City project,” Mr Kondamoori said.

Asked whether SemIndia had the financial wherewithal to complete the $3 billion project, Dr Agarwal said SemIndia and its partners had the requisite financial muscle to execute the projects.

He said the controversy about the project had sent wrong signals to the investor community around the world.

“Many states wanted us to set up similar facilities but we came here. They are calling us again. We want to stay at this place, but we may have to rethink if the project does not take off,” he said.

He said the SemIndia planned to build an ATMP (Assembly, Test, Mark and Packaging) at an estimated cost of $100 million, on 25 acres of land, followed by the Fab unit, which will be built in two phases.

The first phase is estimated to cost $1 billion, while the second phase is expected to cost $2 billion.

He denied that SemIndia was interested in only acquiring the land for realestate development, adding that SemIndia’s mandate was to provide the infrastructure to attract investors for semiconductor manufacturing and suppliers.

SOURCES:
Deccan Chronicle

GATEWAY AMBIENCE At Nagaram

Subleasing May Lead To Eviction

I n principle the tenant can sublease because the interest in immovable property is also called immovable property. But the landlord and tenant are free to have certain terms in lease deed prohibiting subleasing. Where there is such a contradictory term in the deed to which the tenant agreed, he cannot sublease the whole portion or part of it to another. The only exception is if the landlord gives a written agreement to sublease. If not, it amounts to breach of contract leading to legal consequences.

M/s Rose and Company, which was running some hotels at prominent centres in the city took premises on lease from Mr Abraham. The deed of lease specifically prohibited the transfer of whole leased premises to another or any part of it. M/s Rose and Co entered into a deal with M/s Sky park & Co saying that the right to manage the hotel business at Abraham’s place has been transferred with the right to occupy the leased premises, which virtually meant that the M/s Skypark people would sit in the office and manage the entire hotel business. When Mr Abraham questioned it, M/s Rose & Co said it didn’t sublease the premises but only allowed Skypark to manage their business.

It also asked how could anybody manage the business without occupying the premises. It was also assured that there would be no default in payment of rent, along with periodic increments in rent. The conduct of the tenants and subtenants clearly proved that the transaction was in fact a transfer of premises and transfer of entire business, which means that the tenant has deprived the owner of the building of his choice of selecting a new tenant after the existing tenant has decided to terminate the lease. Also, the tenant wanted to exploit the goodwill generated in that premises. It was prohibited in the contract.

Here, even Skypark is at a disadvantageous position because it could be evicted, its investment could go waste, the lease deed would be absent, the term would be short or cut short, and finally there would be no legal status at all. Skypark should have entered into a deal with Mr Abraham, or at least it should have involved the landlord to achieve a legal status and protection of the law.

When Mr Abraham approached the court of law for evicting the tenant for the breach of contract by subleasing, M/s Rose & Co hurriedly got Skypark to vacate the premises and started running the hotel business by itself. It also pleaded that it was the original tenant and there was none occupying the premises. What would be the rights of a house owner like Abraham in such cases?

In a similar situation, the High Court of Andhra Pradesh justified in taking the view that the tenant and his transferee used all ingenuity at their command to camouflage the real nature of the transaction and made it appear that there was only a transfer for man aging rights of business and not a transfer of the business in toto together with the right to occupy the leased premises. Even the conduct of the parties afforded material to conclude that what was transferred to the transferee was much more than the right to run the hotel business for a limited period.

In such a case, the fact that the transferee subsequently vacated the premises and tenant was himself running the hotel would not affect the rights of the landlord to have the tenant evicted on the ground of subletting against the prohibitive term of contract.

This decision was reported in K. Achyuta Bai vs V. Manga Devi, AIR 1989 SC 93. Thus, Mr. Abraham can still evict M/s Rose & Co and re-enter the premises to lease it out to a fresh party according to his terms and conditions.

SOURCES:
Deccan Chronicle

Register Property By Appointment

Registration of property documents may soon be done on appoint ment, if the registration and stamps department has its way. The new inspector general of registration and Stamps S. K. Sinha is believed to have mooted the proposal of asking property buyers and sellers to fix an appointment with the department and get the registration done at that particular time. This is to avoid the inconvenience of waiting for hours at the registration office.

“As per the proposal, they will approach the district registrar or sub-registrar's office concerned for a particular time and date. Depending on the availability of the slot, the department will allot the time and date,” a senior official said adding that the system would be similar to that at the passport office. The department will suggest an alternative time if the slot is already booked. Department officials are of the view that the system of seeking appointment can also be done online given the technological advancements the department has already achieved.

There are complaints that the “parties” were made to wait for hours and the delay in some cases is even “encashed” by the office staff by showing shortcut routes for quick disposal of the registration. “In places like Ranga Reddy district registrar office and other sub registrar offices in other parts of the district, 80 to 100 documents are registered everyday against the normal clearance rate of 20 documents,” official sources said.

This is mainly due to the sharp increase in real estate activity in the city outskirts. There are, however, apprehensions over the proposal because of the core element attached to registration sentiment. In majority of cases, the buyers prefer muhurat for registering their property. They will also avoid registration of their property during inauspicious days. “Several people will be very particular about the time also. They will insist that the process of registration starts in some form or the other at the particular muhurat though the entire process is completed afterwards,” K. Rajeswar Reddy, a builder, pointed out. There will be a mad rush to get appointment during the auspicious period only, he added.

Instead, the officials suggest that the government should give top priority to fill hundreds of vacancies both at the clerical level and sub-registrars.

“Besides vacancies of 300 in the existing staff strength, there is requirement for another 700 given the multiple increase in transactions. Similarly, at higher levels there are at least 100 vacancies,” departmental sources said.

There’s also a proposal to allow registration of property anywhere in the State lying under the government for several years. The ultimate objective of the CARD project (computerisation of registration process) is to facilitate registration from any sub-registrar or district registrar’s office.

As of now, the government allows registration of property only at the district registrar’s office besides the sub-registrar’s office concerned.

Meanwhile, the government gave a green signal to setting up of 10 more district registrar offices at Hyderabad (south), Ranga Reddy (east), Anakapalle, Gudala, Tenali, Markapur, Gudur, Proddutur, Nandyal and Hindupur besides 43 new sub-registrar offices to reduce the work load on the existing offices.

SOURCES:
Deccan Chronicle

Govt Gets HC Rap on land

Questioning the legality of the government in selling land, the High Court on Monday said if it is proved that the government does not have the right to allot or sell land, then all such allotments need to be cancelled.

A division Bench of the court comprising chief justice G S Singhvi and justice C V Nagarjuna Reddy made these observations while hearing the case of IMG Bharata Academies whose 850 acres of land allotted by the previous government was cancelled by the present one through issuance of an ordinance.

The Bench directed the IMGB counsel to file an affidavit listing all land allotments done by different state governments in the recent past and directed the state to confirm these allotments. Central to the concern of the Bench in Monday’s hearing was whether the government had a right to allot or sell land. “Suppose a company from abroad comes forward to purchase the whole of Andhra Pradesh, say for instance, for 20,000 million dollars or pounds, is it permissible under our law to sell away our state?. Can the Government of India, for that matter, say that we will sell away India?. Do they have such a power?” the CJ asked. Commenting that a government is only a trustee of public property and that it cannot enter into ridiculous agreements like that with IMGB, the CJ, however, said “we wish to know the exact legal position on this aspect. There are many mercenaries ready to acquire India. Are you prepared to give it away?” Turning to both advocate general C V Mohan Reddy and IMGB counsel, the CJ said: “You have to enlighten us on this. This question goes to the root of the people of Andhra Pradesh and the whole of India for that matter, and their prestige,” the chief justice added. If it is proved that the government of the day has no power to allot or sell, then all such transactions have to be cancelled, the CJ said. When the IMGB counsel told the Bench that the government has the power to allot or sell government lands under the Telangana Land Revenue Act for specific purposes, the CJ asked him whether that constitutes an absolute discretion to barter away everything that comes to be known as public property. “We must draw a distinction between the government and the state,” the CJ said.

The CJ said the government cannot sell or allot land to any individual without following any competitive method or calling for tenders as it is only a trustee of such land and not its owner. Is it permissible under the law to give away thousands of acres, sometimes even up to 20,000 acres to private companies, the Bench asked and wanted to be brought to its notice all such allotments made in recent times. The bench posted the matter to July 9.

SOURCES:
Times Of India

Home Loan Rates To Be Cut

There is finally some good news for those who have home loans of up to Rs 20 lakh. Interest rates are expected to fall by up to 0.5 percentage points following Reserve Bank of India’s decision on Tuesday to reduce the capital requirements for banks to give housing loans.

Better still, this may just be the start of a period of soft interest rates, at least for those who are willing to shell out a little extra by way of an upfront payment or settle for a not so swanky apartment.

RBI’s move in its lean season credit policy is likely to benefit old borrowers more as most home loans taken till a few years ago were for amounts ranging between Rs 15 lakh and Rs 20 lakh, bankers said.

The impact on new borrowers is, however, expected to be limited, at least in big cities where real estate prices have risen manifold in recent times. The move could have a visible impact in cities like Nagpur, Jaipur, Visakhapatnam, Patna, Lucknow and Ludhiana, where apartments of around Rs 20 lakh are not as scarce. Besides, it also helps the government’s ‘aam admi’ plank since low-cost housing is expected to get a fillip.

Just last week, bank chiefs had urged finance minister P Chidambaram to push their case for easing of the home loan and interest rate environment.

On Tuesday, RBI governor Y Venugopal Reddy cut the risk weight on home loans up to Rs 20 lakh from 75% to 50%. That means, the Central bank feels that home loans are less risky and signals that banks can be a little more aggressive in lending to the sector.

The change in provisioning norms is not going to help borrowers alone. Banks which are facing higher default prospects too stand to gain. The rise in interest rates from around 6.5% in 2004 to around 12% at present has pushed up equated monthly instalments (EMIs) by nearly 50%, raising the chances of defaults.

SOURCES:
Times Of India

Rupee Reaches Rs 40.90/$, To Hit Exports

The rupee breached the Rs 41 per dollar level to close at Rs 40.90 on Wednesday, gaining further strength over the previous close of Rs 41.17 on Tuesday. RBI has pegged the reference rate for dollar at Rs 40.97.

In the first 25 days of the current financial year, rupee has appreciated 6 per cent against the greenback. Though this has affected the dollar-denominated exports, RBI is sitting pretty as the appreciation of Rupee has helped in containing inflation. However, with exports becoming costlier, Indian companies’ competitiveness abroad is getting hit.

Since July 19, 2006, when dollar had peaked to Rs 46.95, rupee has appreciated by nearly 13 pc. Even against other currencies like Pound, Yen, Rupee has appreciated substantially. It has appreciated by 4.16 pc against pound, 3 pc ing limits of individuals and against Euro and 13.40 pc companies to invest abroad. against Yen. So far, to neutralise the ef-Rupee has appreciated by fect of surplus fund flow, RBI around 12 pc as against its real used to buy dollar. But, this effective exchange rate in 1992, led to supply of rupee in the when rupee exchange rate market and increased the liqwas liberalised and was made uidity.

RBI and government market-determined. However, RBI governor YV Reddy on Tuesday said the regulator is not perturbed over the development. The central bank in its credit policy tried to slow down the inflow of foreign exchange, by cutting interest rate on NRI deposits and tried to accelerate the outflow of foreign exchange by increasthink that this fuelled inflation. So, RBI has reduced its intervention in forex market.

But because of huge foreign fund inflows, during first nine months of 2006-07, the country witnessed a net addition to forex reserves by $16.4 billion as against $1.8 billion in the same period of 2005-06. However, in the subsequent period, the net accretion to reserve has slowed down substantially. But, still the country’s reserve has swelled mainly on account of re-valuation of reserves. As dollar has depreciated against most of the currencies, the value of reserves in dollar-terms has gone up.

But, bankers feel that RBI’s measures to discourage fund flow would not be effective as India continues to be star investment destination. Sources in government, however, defended the new policy of RBI not to intervene in the forex market to support dollar. It argued that in since the beginning of 2005-07, while rupee appreciated against dollar and yen by around 8 pc, it depreciated against pound and euro.

Therefore, he said if Indian exporters loose their competitiveness in dollar and yen terms, it gained the same in other currencies.

SOURCES:
Times Of India