Property News from IndianRealtyNews

Property News from IndianRealtyNews

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Hyderabad based Infrastructure Company to bid for EPC

Posted: 05 May 2010 10:33 PM PDT

The restructured Hyderabad-based infrastructure company IVRCL will aggressively bid for EPC (engineering, procurement and construction) contracts and take up projects under public-private partnership while facilitating access to growth capital through IVRCL Assets. IVRCL will offer integrated construction and engineering services and the new merged entity, IVRCL Assets, will handle infrastructure projects. IVRCL is also looking at [...]

Income Tax Benefit for SEZ units under Direct Tax Code likely

Posted: 05 May 2010 10:28 PM PDT

The Centre, on Tuesday, said requests from certain quarters to provide income tax (IT) benefits for Special Economic Zones units in the Direct Taxes Code would be considered before the proposed code is finalised for replacing the Income Tax Act. "The draft Direct Taxes Code (DTC) proposes investment linked deduction for developers of SEZs as [...]

Real Estat Firm Omaxe expects a sales Revenue of Rs 120 cr

Posted: 05 May 2010 08:50 PM PDT

Real estate firm Omaxe today said it would develop an office-cum-shopping complex in Punjab and expects a sales revenue of Rs 120 crore over the next two and a half years. The company today launched ‘India Trade Tower’, arguably the tallest commercial edifice of Punjab in Mullapur (near Chandigarh), Omaxe said in a statement. The complex, [...]

Pune- Residential Property Prices Increased by Rs 300 per SQFT

Posted: 05 May 2010 08:35 PM PDT

The residential property costs in city has increased by Rs 250-300 per square feet in last couple of months, builders and developers body Confederation of Real Estate Developers‘ Associations of India (CREDAI) Pune has said. "With increase in government and municipal charges getting rolled out in the form of VAT, Service Tax, Ready Reckoner Rates, [...]

No review of Foreign Direct Investment norms for Banking Sector

Posted: 05 May 2010 07:46 PM PDT

The government today said it will not review the foreign direct investment (FDI) norms for the banking sector — a policy that has rendered lenders like ICICI Bank and HDFC as foreign-owned entities. “No revisiting the norms… We are very clear (on this),” Industry Minister Anand Sharma said today, when asked whether the government would review [...]

Gold Souk plans gems & jewellery SEZ in Gurgaon

Posted: 05 May 2010 07:32 PM PDT

Gold Souk – the jewellery mall developer – is planning to set up a gems and jewellery special economic zone (SEZ) with an investment of Rs 2,000 crore in Gurgaon. The company plans to start work on the project within this financial year.We have got 40 acres from the Haryana government. It is an ambitious [...]

Hospitality Major to bring budget brand Fairfield to India

Posted: 04 May 2010 11:16 PM PDT

US-based hospitality major Marriott International is considering carting in its budget brand Fairfield Inn & Suites to India. Marriott is likely to explore the markets of Courtyard — its full service, four-star, moderately priced brand — for Fairfield, according to a report published in DNA. Rajeev Menon, Marriott's assistant vice-president, India, Maldives & Malaysia, said, "We [...]

Real Estate Developers scout for land, float funds to raise money

Posted: 04 May 2010 11:15 PM PDT

As the liquidity crunch eases and realty firms look at big land and property acquisitions again, several of them are floating funds to raise capital. Real estate firms such as Ackruti City Ltd, Kolte-Patil Developers Ltd, K Raheja Corp and Shapoorji Pallonji and Co Ltd are either setting up or revisiting plans to float funds [...]

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