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Saturday, May 26, 2007
*****THIS BLOG IS NOW AT NEW LOCATION*****
Sunday, May 13, 2007
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.
Times Of India
Posted by Pradeep Sadanapalli at 8:49 PM
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.
Times Of India
Posted by Pradeep Sadanapalli at 8:47 PM
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."
Posted by Pradeep Sadanapalli at 8:36 PM
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.
Posted by Pradeep Sadanapalli at 8:31 PM
I bought these Plots from a very big venture and if anyone is interested they can reach me at firstname.lastname@example.org (dhalli at gmail dot com) for more information. Registration will be done at the earliest.
Serious Buyers Only, Brokers Excuse.
Posted by Pradeep Sadanapalli at 2:50 PM
Friday, May 11, 2007
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.
Posted by Pradeep Sadanapalli at 7:55 AM
Tuesday, May 8, 2007
Monday, May 7, 2007
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?
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.
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.
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!"
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.
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.
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.
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.
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.
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.
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.
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.
The Hindu Business Line
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
Sunday, May 6, 2007
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.
The below are created for now. If there is good response, we can extend the same practice to other builders/developers.
1. SuchirIndia Investors Club
Group name: suchir-investors-club
Suchir Investors Club
2. Green Home Investors Club
Group name: greenhome-investors-club
Group email: email@example.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: firstname.lastname@example.org
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: email@example.com
Dhatri Investors Club
The project is being carried out by Modi Builders, a leading construction company in Hyderabad with an immaculate track record in delivering quality housing.
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
Posted by Pradeep Sadanapalli at 7:50 PM
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.
Times Of India
Posted by Pradeep Sadanapalli at 7:36 PM
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.
Times Of India
Posted by Pradeep Sadanapalli at 7:24 PM
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.
Posted by Pradeep Sadanapalli at 7:12 PM
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.
Posted by Pradeep Sadanapalli at 7:10 PM
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.
Posted by Pradeep Sadanapalli at 7:04 PM
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.
Times Of India
Posted by Pradeep Sadanapalli at 3:05 PM
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.
Posted by Pradeep Sadanapalli at 2:52 PM
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.
The Financial Express
Posted by Pradeep Sadanapalli at 2:25 PM
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.
Posted by Pradeep Sadanapalli at 2:08 PM
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.
Posted by Pradeep Sadanapalli at 1:48 PM
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."
GMR Hyderabad International Airport Limited
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.
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
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.
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.
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).
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.
Posted by Pradeep Sadanapalli at 1:32 PM
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.
Posted by Pradeep Sadanapalli at 1:22 PM
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.
Posted by Pradeep Sadanapalli at 1:17 PM
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.
Posted by Pradeep Sadanapalli at 1:13 PM
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.
Posted by Pradeep Sadanapalli at 1:11 PM
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.
Posted by Pradeep Sadanapalli at 1:06 PM
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."
Posted by Pradeep Sadanapalli at 12:59 PM