REAL ESTATE
 

EARLIER IN
REAL ESTATE


FLATS FOR SLUM DWELLERS
Sanjeev Singh Bariana
finds out that Chandigarh plans 17,000 rehabilitation apartments
In a major step towards erasing the dark spots of slums from the face of City Beautiful, Chandigarh Housing Board (CHB) has prepared a draft proposal for approximately 17,000 one-room apartments in Dhanas and Maloya villages.

The proposed area in Dhanas where apartments are being planned by Chandigarh Administration to rehabilitate slum dwellers.
The proposed area in Dhanas where apartments are being planned by Chandigarh Administration to rehabilitate slum dwellers. — Photo by Pradeep Tewari

Realtor-farmer tussle casts shadow on SEZs
Finance Ministry and Commerce Ministry at loggerheads, reports Manoj Kumar
With former Prime Minister V.P. Singh joining the farmers opposing acquisition of land by the UP government for the Reliance special economic zone (SEZ) in Dadri, large number of investors taking stakes in these mega projects are apprehensive about their future.

Mega zones to come up in Haryana
Andhra Pradesh and Maharashtra lead the race in setting up the maximum number of Special Economic Zones, but the country’s biggest SEZs are coming up in Haryana. The Board of Approval in the Commerce Ministry has so far given final clearances to 150 SEZs and in-principle nod to another 117 zones across the country.

Investors rush towards Navi Mumbai
Green signal to SEZ, airport jacks up realty, says Shiv Kumar

It’s a veritable Gold Rush in Navi Mumbai with investors, speculators and eternal optimists rushing in to buy land. With the Union Civil Aviation Ministry giving the green signal for a new airport measuring 3,000 acres in Mumbai’s satellite town last month — the only planned township in Western India — a boom looms round the corner.

A view of Khandeshwar Bridge, Navi Mumbai

A view of Khandeshwar Bridge, Navi Mumbai

HDFC moots $750 m scheme
As India emerges a hot spot for real estate investment, HDFC has come up with an international scheme to raise $750 million to be infused into the sector. The HDFC International Real Estate Fund proposes to raise $720 million from international investors, banks, financial institutions, multilateral agencies and high net worth individuals across Europe, North America and Asia.

ASIAN Realty

Two women walk past a billboard promoting a new shopping mall in Shanghai. China and India are leading a revolution in the shopping centre industry in Asia and by 2010, China is expected to be home to at least seven of the world’s 10 biggest shopping centres.
Two women walk past a billboard promoting a new shopping mall in Shanghai. China and India are leading a revolution in the shopping centre industry in Asia and by 2010, China is expected to be home to at least seven of the world’s 10 biggest shopping centres. Driven by strong economic growth and rising disposable incomes, hundreds of shopping malls have sprouted across the region, many of them dwarfing their counterparts in the United States. In India from almost no malls existing over a decade ago, there are more than 100 operational malls now. India is taking major initiatives and investment in world-class infrastructure is expected to be close to $150 billion.— AFP photo

Buzz on Bourses
Grasim’s acquisition

Mumbai: Grasim Industries, an Aditya Birla Group company, has acquired 50,000 equity shares of Rs 10 each, equivalent to 100 per cent of the paid up capital, of Harish Cement at Mandi in Himachal Pradesh at Rs 20 per share.

TAX tips
Relinquishing share in property is transfer
Q. When does the transfer in relation to a capital asset takes place? If I relinquish my share in a property will it amount to a transfer?

India the next big thing for Israeli realty firms
India’s real estate boom is now attracting foreign players with two major Israeli firms joining hands to invest $100 million in its market.

Gradient to dictate construction
There is a proposal to regulate structures on steep Himachal slopes, reports Rakesh Lohumi
Reckless urbanisation has in recent years played havoc with the hillscape. Blind race for owning property has led to the over-development in and around most of the towns and huge buildings have sprung up even on steep slopes. These structures are not only susceptible to geo-hazards, like earthquakes and landslips, but also lack requisite infrastructure like proper approach roads, ventilation and parking. The state capital and its periphery have been worst affected by the unregulated construction.




Unless regulated, major mishaps can occur as collapse of buildings may set off a chain effect bringing down all constructions on a slope. — Photo by Anil Dyal
Unless regulated, major mishaps can occur as collapse of buildings may set off a chain effect bringing down all constructions on a slope.

Haryana engages Wapcos
In the first major plan ever since Independence, the state government has hired a private city development plan (CDP) consultant to give a better look to the old townships of the district and prepare outlines of the required modern day civic amenities.

 




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