Companies which have deferred expansion plans in the National Capital Region due to high property prices can now think of going ahead as rentals for office space in IT and SEZ segments have declined by up to 13 per cent during the second quarter of 2008.
The rentals of IT/SEZ segment in Gurgaon and Noida witnessed correction with values declining by 3 per cent and 13 per cent over the quarter respectively, global real estate consultant Cushman & Wakefield (C&W) said in its report on office market for second quarter of 2008.
The anticipated supply and deferred expansion plans of the companies resulted in the decline of rents, the consultant pointed out.
More : economictimes.indiatimes.com
Japan ready to work for expanding Delhi Metro: officialJapan ready work for expanding Delhi Metro: official
Buoyed by its successful partnership for the Delhi Metro, Japan today said it was ready to work for the expansion of the project.
We are quite ready to work for the expansion of the Delhi Metro, a senior Japanese government official said here.
The Japanese government is willing to continue support for the capitals mass transport system, said the official who is accompanying Prime Minister Shinzo Abe on a three-day visit to India.
More : hindu.com
Delhi eighth expensive office space in the world
Mumbai and Delhi are the second and eighth most expensive places respectively in the world for renting office spaces. In terns of cost, these places are ahead of New York, Los Angeles, Geneva, Rome and Shanghai.
London West End continues to be costliest place in the world with a rental of Rs 1,080 per sq ft per month. As against this, the occupation cost in Mumbais Nariman Point in November 2007 hovered at Rs 625 per sq ft per month and in Connaught Place in Delhi at Rs 415 per sq ft per month.
In the last one year, rentals in Mumbai increased 55% and the city jumped three places from fifth in 2006 to second in the list of most expensive office markets in the world, prepared by global consultancy firm CB Richard Ellis (CBRE).
More : timesofindia.indiatimes.com
3-bedroom apartments in the city and the suburbs
A rental of Rs 15,000 per month is decent enough to get you two- to three-bedroom apartments in the NCR. Three-bedroom apartments of 1,175 sq ft are available at Pitampura. In south Delhi you can get one-bedroom builder floor in Defence Colony for Rs 15,000 per month. The built-up area is 900 sq ft. In East of Kailash, three-bedroom flats of 1,800 sq ft are available in this amount. Two-bedroom apartments are available in Kalkaji and Vasant Kunj. The area ranges from 900-1,200 sq ft. Even in Lajpat Nagar you can get 1,150 sq ft to 1,200 sq ft apartments for Rs 15,000 per month.
In Patparganj you will get three-bedroom apartments of 1,500 sq ft. If you can spend another Rs 2,000 to 3,000, you can get four-bedroom apartments of 1,450 sq ft in Patparganj itself. In IP Extension you can get a little bigger three-bedroom space of 1,550 sq ft.
Moving towards the suburbs, Noida has flats of 1,200-1,500 sq ft in sector 62. Sector 30 has three-bedroom independent houses with a super area of 1,400-1,500 sq ft. Two-bedroom independent kothis are available in sectors 30, 36, 39, 40 and 41. Sector 50 has four-bedroom spacious accommodation having 2,200 sq ft area.
More : expressestates.in
McDonalds goes to Delhi airport
From opening its first outlet at Basant Lok in Vasant Vihar in the Capital in 1996 to launching a new restaurant at the airport, McDonalds India has come a long way.
On the eve of its 11th anniversary, McDonalds India opened its first express restaurant at Terminal 1A of the domestic airport this past Monday.
The restaurant is located within the security lounge area covering about 600 square feet and will enable passengers to savour burgers, French fries and much more as they wait to board the aircraft.
More : hindu.com
Delhi region to scores high iit-jee
The fate of 48,000 Delhi students who appeared for the Indian Institute of Technology-Joint Entrance Exam (IIT-JEE) got decided with its results being declared on Wednesday. Of the, 1,400 Delhi region candidates cleared the IIT-JEE.
Only 7,200 students from across the country have been selected on the basis of the entrance exam that took place on April 8 for the 4,000 seats in the seven IITs across the country — Delhi, Madras, Mumbai, Kanpur, Kharagpur, Guwahati and Roorkee. IIT- Delhi has 553 seats. Now theyll have to clear the counselling rounds.
The 1,400 Delhi region students will now go through a counselling process to be held between June 18-26. This number is second only to that of Mumbai from where 2,235 students have been selected.
More : timesofindia.indiatimes.com
Two Central ministries spar over Delhis 53 acres of land
Two Central government ministries have failed to resolve a major dispute over two pieces of prime land in the heart of New Delhi. The Union ministry of urban development now wants 5.5 acres of land adjacent to Safdarjang Airport, and a large portion of 48 acres in Delhis Netaji Nagar back from the ministry of civil aviation, sources close to the development told Sunday ET.
Significantly, both these pieces of prime land, valued between Rs 1,000 cr to Rs 1,200 cr at current market prices, were handed over to the ministry of civil aviation for expanding the Safdarjang Airport and building some towers respectively.
However, the land measuring 5.5 acre has remained unused for several years. Despite repeated requests, the ministry of civil aviation has refused to give it back to the urban development ministry on the pretext that the disputed land could not be used for purposes other than aviation.
More : economictimes.indiatimes.com
GAIL to fuel Pragati Powers plant near Delhi
GAIL India, the countrys largest trasnporter and marketer of gas, has signed an agreement with Pragati Power Corporation to supply 2 million cubic metres per day (mcmd) of regassified liquefied natural gas (R-LNG) for its 1,500MW power plant at Bawana near Delhi.
Besides, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) will together supply another 4 mcmd of gas to the plant. GAIL will transport the entire 6 mcmd of gas that will be sourced from Petronet LNGs regassification plant at Dahej, Gujarat.
GAIL has already signed the transportation agreements with IOC and BPCL, said UD Choubey, chairman and managing director, GAIL.
More : business-standard.com
IFCI bids plots in Delhi
At a time when realtors are looking at diversifying to hedge their risks, financial institution IFCI has decided to foray into the sector as part of a strategy to deploy liquid funds in a low-risk high-returns business.
The company has bid for Delhi Development Authority (DDA) plots meant for constructing service apartments in Mayur Vihar. IFCI is also setting up a subsidiary for real estate and urban infrastructure.
While the original intent was to bid for four plots offered for auction by DDA, IFCI is learnt to have opted out of the race to build hotel projects in Anand Vihar and Mandawli Fazalpur.
More : timesofindia.indiatimes.com
Property dealer to shot in West Delhi
A 22-year-old property dealer was shot dead by unidentified assailants on Najafgarh Road in west Delhi on Wednesday morning.
Jitendra (22), who was pursuing a course in forensic sciences in his post graduation, was on way to his workplace at Najafgarh, said the police. When he approached Mohan Garden, two youths fired four rounds at him and fled. He was rushed to Deen Dayal Upadhyay (DDU) Hospital where he was declared brought dead. The incident took place at 9 am.
The accused, a resident of Kakrola village, is the son of a property dealer and was assisting his father in his business.
More : timesofindia.indiatimes.com
Delhi to get for Science and Technology Park soon
For those who feel Delhi lags behind in science and technology, here is good news. The national capital would soon get a world-class sci-tech park, with focus on IT, nano-technology and bio-technology, on its southwest fringes.
Delhi Chief Minister Sheila Dikshit on Thursday announced that the park would come up in Dwarka, on a 30-acre land belonging to the Netaji Subhash Institute of Technology (NSIT), and with the help of NASSCOM, an IT industry lobby, on an initial investment of Rs.200 million.
Speaking at a workshop on Strengthening Technical Education through Institute-Industry Partnership at the Delhi secretariat, Dikshit said: The proposed Science and Technology Park would focus not only on IT but also on other sectors such as nano-technology, bio-technology among others.
More : indiaedunews.net
Students happy to HC okays CFA exams
In a major relief to Indian students and the US-based CFA Institute, the Delhi High Court has allowed all three levels of CFA examinations to be conducted in India on June 3. The high court, however, said the other aspects of AICTE order, restraining the institute from carrying out the programmes relating to the course, will remain operative.
Noting that for over 20 years the examination has been conducted in India and abroad, the court said: The order dated May 18 will, if permitted to operate, stultify the process for the examinations to be held on June 3. The applicants who have laboured and studied hard for the examination would be shot down in mid-flight. If the order is permitted to operate, they will not be able to take the examination.
The court also took into account that nearly 7,000 applicants have already paid fees and gone through the self-study stage, perhaps utilising the suggested materials, and now the only step left was allowing them to sit for the examination scheduled to be held on Sunday. But the court said that other parts of the restraining order on the US-based institute will remain operative.
More : economictimes.indiatimes.com
delhi sealing drive & formar cj sabharwal - some facts
ormar cj family hold three companies in 2004 named 1-pawan impex 2- sab export 3- sang export. & run the business of export -import. the business was run by two son of formar cj chetan & nitin
the corporate registered address of the companies were house no 3/18 punjabi bagh the private residence of formar cj til dec 2003. the corporate office were shifted at 6 motilal nehru marg new delhi after jan 2004. it is a co incidence or consiperacy that formar cj issue order of sealing on may72004. because panjabi bagh is a residencial area so the order can affect their home companies too so they shifted in the govt residence of formar cj where no such drive can be excuted as it was the govt residence of formar cj
on oct 23 2004 a big mall & complex developer (BPTP GROUP)S KABUL CHAWLA JOIN PAWAN IMPEX WITH 50 SHARE HOLDING AS A DIRECTOR & THE SAME DAY THE SAME DAY THE RESIGTERED OFFICE OF PAWAN IMPEX AGAIN SHIFTED IN PUNJABI BAGH 3/18 THE PRIVATE RESIDENCE OF FORMAR CJ . AFTER SOME MONTH LATER THE WIFE OF KABUL CHAWLA ANJANI CHAWLA ALSO JOINS THE PAWAN IMPEX AS A DIRECTOR
More : ndtvblogs.com
Delhi Metro confident of meeting deadline
During its first phase of construction, the Delhi Metro Rail Corporation set a new record, beating its own deadline. And as the second phase gradually moves towards the cut-off date, DMRC says it is confident of meeting the target.
Though the New Delhi-Airport link and the Badarpur-Central Secretariat corridor have run into rough weather, which has slowed down the pace of work on these stretches, DMRC officials say the chances of missing the deadlines are slim.
Work on the Badarpur-Central Secretariat stretch with a 2010 deadline is yet to pick up pace as a section of the residents welfare associations in South Delhi has protested against an elevated corridor in their neighbourhood. The issue will now be discussed by the Group of Ministers.
More : hindu.com
IFCI bids for plots in Delhi
At a time when realtors are looking at diversifying to hedge their risks, financial institution IFCI has decided to foray into the sector as part of a strategy to deploy liquid funds in a low-risk high-returns business.
The company has bid for Delhi Development Authority (DDA) plots meant for constructing service apartments in Mayur Vihar. IFCI is also setting up a subsidiary for real estate and urban infrastructure.
While the original intent was to bid for four plots offered for auction by DDA, IFCI is learnt to have opted out of the race to build hotel projects in Anand Vihar and Mandawli Fazalpur.
More : timesofindia.indiatimes.com
Status quo on sealing in Delhi
There is good news for thousands of people in Delhi concerned about their properties being sealed.
In an ordinance that puts the government on collision course with the Supreme Court, sealing has been suspended for at least a year.
Like all its previous attempts at fighting sealing, this move too was a last minute one.
More : ndtv.com
DUSU results show party well placed: Delhi Congress chief
Taking over the reins of the Delhi Pradesh Congress Committee at a time when the party is divided into various camps, Jai Parkash Agarwal is aware that his task is cut out if the Congress is to win the Delhi Assembly elections due next year. But he believes that by taking everyone along he can place the party on a better pedestal to face the polls.
I am not part of any faction and do not believe in discriminating against people. I believe that the party can win the next elections if all the leaders work together as a unit and tell the people about the work the party and the Delhi Government have done for their welfare, said the newly appointed DPCC president on Saturday.
On a day when the National Students Union of India swept the Delhi University Students Union polls and the win appearing like a good omen for his new innings, Mr. Agarwal appeared upbeat about the prospects of the party at large. By winning the elections, our student leaders have shown that the party is quite well placed in Delhi. When you are in the Government, the party remains a cohesive unit. All that is needed to produce goods results is marshalling of men and resources well, said Mr. Agarwal, whose father, the late Ram Charan Agarwal, was also a senior party leader.
More : hindu.com
Delhi to get the Science and Technology Park soon
For those who feel Delhi lags behind in science and technology, here is good news. The national capital would soon get a world-class sci-tech park, with focus on IT, nano-technology and bio-technology, on its southwest fringes.
Delhi Chief Minister Sheila Dikshit on Thursday announced that the park would come up in Dwarka, on a 30-acre land belonging to the Netaji Subhash Institute of Technology (NSIT), and with the help of NASSCOM, an IT industry lobby, on an initial investment of Rs.200 million.
Speaking at a workshop on Strengthening Technical Education through Institute-Industry Partnership at the Delhi secretariat, Dikshit said: The proposed Science and Technology Park would focus not only on IT but also on other sectors such as nano-technology, bio-technology among others.
More : indiaedunews.net
Tussle with cement giant for the may hit Delhi-Dhaka ties
In a development that could sour ties between Dhaka and New Delhi, cement giant Lafarge on Friday moved the Supreme Court complaining against an order of the ministry of environment and forest (MoEF) virtually putting an end to supply of raw material to its $255-million plant in Bangladesh.
The Lafarge Surma Cement project at Chhatak, Sunamganj, in Bangladesh is wholly dependent on limestone extracted from East Khasi Hills of Meghalaya in India and the ministry has ordered stoppage of work at the quarries on the ground that mining is not permitted in forest areas.
Appearing for the French multinational, senior advocate Mukul Rohtagi said the sudden reversal of stand by MoEF, which had earlier given no objection to limestone being carried from Meghalaya to Bangla-desh by a 17-km-long conveyor belt, would render the plant inoperational in three to four days.
More : timesofindia.indiatimes.com
Property dealer shot in W Delhi
A 22-year-old property dealer was shot dead by unidentified assailants on Najafgarh Road in west Delhi on Wednesday morning.
Jitendra (22), who was pursuing a course in forensic sciences in his post graduation, was on way to his workplace at Najafgarh, said the police. When he approached Mohan Garden, two youths fired four rounds at him and fled. He was rushed to Deen Dayal Upadhyay (DDU) Hospital where he was declared brought dead. The incident took place at 9 am.
The accused, a resident of Kakrola village, is the son of a property dealer and was assisting his father in his business.
More : timesofindia.indiatimes.com