It could be a second innings for special economic zones, especially those held up for years, with the commerce department proposing fresh tax concessions and a cut in the minimum area requirement to a quarter of the present specifications.
The department has suggested that any zone that is not built around the identified 40 million-plus cities and state capitals would be eligible for duty benefits on capital investment for construction of hotels, hospitals, schools and colleges, residential and business complexes and training, leisure and entertainment facilities in what is billed as non-processing area (NPA) infrastructure. Sources said the zones would be eligible for tax concession if built 50-100km from an urban conglomerate, with the facilities for exclusive use of SEZ employees.
In case of SEZs constructed in 123 backward districts, this infrastructure can also be used by those who are not part of the zone, a 48-page note said. At present, the rules specify
that an NPA can’t exceed half the area of an SEZ.
In addition, the department wants to extend the benefits of export schemes already available to entities outside the zones to SEZ units as well. This is aimed at making up for the levy of minimum alternate tax and withdrawal of other tax concessions by finance minister Pranab Mukherjee last year.
Further, nearly half the funding available under Aside, a scheme to build infrastructure for exports, may be allocated for building connectivity and infrastructure in SEZs.
According to the commerce department, since February 2006, 585 SEZs have been approved and 381 have been notified, with a majority of them related to information technology and IT-enabled services.
Rakindo Developers has announced the Kovai Hills project, a golf themed integrated township in Coimbatore. Spread over 1,000 acre, this project is designed as an exclusive all-inclusive city. While polluting industries are purposely kept away from this mini city, the new economy industries related t ...
Rakindo Developers has announced the Kovai Hills project, a golf themed integrated township in Coimbatore. Spread over 1,000 acre, this project is designed as an exclusive all-inclusive city. While polluting industries are purposely kept away from this mini city, the new economy industries related to IT and ITES will find due space here. Kovai Hills landscape is dotted with a reputed higher secondary school, multi-speciality hospital, strip malls, central mall, a luxurious resort hotel and spa, dedicated space for senior living, sports village, and the picturesque Kovai
Hills Golf & Country Club with a Golf Academy.
The project comprises three types of habitats; The Highlands, The Links and The Slopes. To manage this one of a kind mini city, Rakindo has formed a joint venture with Weston Solutions, a world leader in infrastructure management to ensure all common utilities and facilities are maintained to the highest standards. Rakindo Developers Pvt Ltd is a joint venture between RAKEEN, a joint stock company, promoted by the Govt. of Ras-AI-Khaimah, UAE and Trimex Group, India.
The Royal Institution of Chartered Surveyors (RICS) has launched an Indian adaptation of its valuation standards, the 'Red Book'. This will help streamline property valuations.
Gandhi City for Advanced Research & Development Ltd, which has received approvals to set up the country's first R&D-based special economic zone (SEZ), will shortly raise $25 million, as the first phase of investment for the project. Two top private equity (PE) firms have already evinced interest in ...
Gandhi City for Advanced Research & Development Ltd, which has received approvals to set up the country's first R&D-based special economic zone (SEZ), will shortly raise $25 million, as the first phase of investment for the project. Two top private equity (PE) firms have already evinced interest in investing in Gandhi City, which is in the process of creating an ecosystem to foster collaboration between the industry, institutes and research organisations near Ramanagara, 30 km from the technology hub of Bengaluru.
The SEZ project will have four phases of investment, spread across 10 years, to raise $600 million through various routes. "The total project outlay is Rs 2,620 crore. Our plan is to replace minor investors by bringing in PE funds. It will be equivalent to 9 per cent of the total share-holding of Gandhi City," says Giri Devanur, Promoter, Gandhi City SEZ. The SEZ will be spread over 1,000 acre, housing research labs, incubation centres, and high-end technology testing facilities. Gandhi City will focus on multiple disciplines, such as, pharmaceutical and life sciences; automotive and aviation; technology and communications, and agricultural sciences, in association with educational institutions. It is the first of its kind SEZ modelled on the lines of Stanford Research Park, US. Gandhi City SEZ has entered into a technological understanding with Research Triangle Park, US.
Parsvnath Developers Ltd (PDL) recorded consolidated revenues of Rs 942 crore for the year ended 31 March 2011. EBIDTA was at Rs 324 crore. This reflects an increase of 9 per cent from Rs 298 crore. Net profit was at Rs 141 crore versus Rs 135 crore in FY 2010, registering a growth of 4 per cent. ...
Parsvnath Developers Ltd (PDL) recorded consolidated revenues of Rs 942 crore for the year ended 31 March 2011. EBIDTA was at Rs 324 crore. This reflects an increase of 9 per cent from Rs 298 crore. Net profit was at Rs 141 crore versus Rs 135 crore in FY 2010, registering a growth of 4 per cent. The EPS for the year stood at Rs 3.40. The PAT margin increased from 14.77 per cent to 18.20 per cent during the year. For fourth quarter of FY11, PDL registered consolidated revenue of Rs 255 crore, EBIDTA stood at Rs 69 crore, while net profit for the quarter stood at Rs 28 crore. The EPS was at Rs 0.65. The PAT margin for the quarter also increased from 10.33 per cent to 12.55 per cent as compared to corresponding quarter of last year. Commenting on the earnings, Pradeep Jain, Chairman, PDL, said, "While we have come out of the days of economic slowdown and have seen positive sentiments amongst buyers, the kind of demand that we have anticipated at the start of the year is still to come because of seven times rate hikes by central bank in the last fiscal and the environment is very volatile and inflationary and the consistent high rate of inflation has impacted our bottom-line."
Bahrain-based investment bank Gulf Finance House (GFH) has partnered with Mumbai-based realtor The Wadhwa Group to develop an integrated township at Panvel, which is spread across 1,250 acre.
Mafatlal Industries sold a 30,910 sq m parcel of land at Byculla in central Mumbai for Rs 605.80 crore to Gliders Buildcon LLP, a subsidiary of Piramal Realty.
Speaking at Realty 2011, the seventh
International Conference on Real Estate
organised by Confederation of Indian
Industry, Sunil Kumar Singh, Joint
Secretary (Housing), Ministry of
Housing & Urban Poverty Alleviation,
Govt of India, emphasised on introducing
single-w ...
Speaking at Realty 2011, the seventh
International Conference on Real Estate
organised by Confederation of Indian
Industry, Sunil Kumar Singh, Joint
Secretary (Housing), Ministry of
Housing & Urban Poverty Alleviation,
Govt of India, emphasised on introducing
single-window system, affordable
housing for urban poor and associated
infrastructure. The government is
committed for providing shelter to all, and
for this, the participation in public sector is being promoted, he said. Emphasising
that reforms surely have to be implemented both on state and central level, he
added, "We are also working on the Real Estate Regulation Bill which will focus
on augmentation of land supply to increase the stock of affordable housing, much
transparent system and empowering the consumer."
Tata Housing is planning to foray into the African mar¬ket during 2012-13 as part of a vision to offer affordable homes globally. The comp-any will build 500 homes (at cost) for middle-class residents in the capital of Maldives, Male.
Contact: TATA Housing Tel: 022-6661 44 ...
Tata Housing is planning to foray into the African mar¬ket during 2012-13 as part of a vision to offer affordable homes globally. The comp-any will build 500 homes (at cost) for middle-class residents in the capital of Maldives, Male.
Contact: TATA Housing Tel: 022-6661 4444. Website: www.tatahousing.in
Earth Infrastructure will invest Rs 1,000 crore over the next three years to develop three projects in the NCR. The company has launched two housing projects in Gurgaon and Greater Noida, comprising about 900 apart¬ments, and one office complex in Greater Noida. It plans to develop a premium housin ...
Earth Infrastructure will invest Rs 1,000 crore over the next three years to develop three projects in the NCR. The company has launched two housing projects in Gurgaon and Greater Noida, comprising about 900 apart¬ments, and one office complex in Greater Noida. It plans to develop a premium housing project, Earth Copia, at an investment of Rs 400 crore in Gurgaon.
This will have about 500 flats with a starting price of Rs 70 lakh. In Greater Noida, the company will construct 400 studio apartments for Rs 100 crore. In the same com¬plex, the company will also build an office complex cost¬ing Rs 500 crore and spread over 1.5 mn sq ft.
Contact: Earth Infrastructure.
E-mail: info@earthinfrastruc ture. in
Patel Realty India, a 100 per cent subsidiary of the Patel Engineering Group, has launched its luxury project -Townsville at Neotown, an integrated township at Bengaluru. An enclave of 124 premium duplex homes, Townsville will have European-style townhouses and offer townhouses in 3. ...
Patel Realty India, a 100 per cent subsidiary of the Patel Engineering Group, has launched its luxury project -Townsville at Neotown, an integrated township at Bengaluru. An enclave of 124 premium duplex homes, Townsville will have European-style townhouses and offer townhouses in 3.5, 4 and 4.5 BHK options with sizes varying from 3,358 sq ft to 4,189 sq ft.
Contact: Patel Realty India Ltd. Tel: 022-6136 6500. E-mail: info@patelrealty.in