San Bernardino County plans to appeal a $5 million judgment awarded to a group of Colton property owners who sued the county over a delayed road project.
The Board of Supervisors voted to take the action Tuesday during its closed session, County Counsel Ruth Stringer announced.
In October, a jury found in favor of a group of five property owners who said the county was liable for lost value on their property due to a delay in completing road work.
More : pe.com
Property tax rates in Delhi to go up
Property tax rates in Delhi - both for residential and non-residential properties - are set to go up. For residential properties, they will go up one percent or so while they will double for commercial ventures like hotels, malls, petrol pumps and even coaching centres with over 50 students.
The Municipal Corporation of Delhi (MCD) Monday finalised the property tax rates in its budget for the coming year. Announcing the new rates at the Town Hall, MCD Leader of the House Subhash Arya said: The tax on residential properties in categories A and B will go up from 10 to 12 percent, in C, D and E from 10 to 11 percent, and in categories F, G and H from 6 to 7 percent.
Categories A and B are high-end colonies, categories C to E middle-class colonies, while categories F to H are those which have recently been regularised.
More : thaindian.com
GITCO, MSME clusters to create awareness on intellectual property
GITCO — a premier technical consultancy organisation (TCO) — and Delhi-based MSME clusters have decided to join hands with micro, small and medium enterprises (MSMEs) to create awareness about intellectual property rights (IPRs).
As a first step towards this, GITCO, along with the MSME Foundation and FICCI, will organise a workshop for MSMEs in the pharmaceutical industry to make them understand the value and necessity of filing IPRs for their innovations. As per the statistics, nearly 3.2 lakh MSMEs provide employment to around seven lakh people in Gujarat.
MSMEs are the backbone of the industry in Gujarat and they need to be protected. The IPR is the right tool for them and the state government will support them in registering IPRs said B B Swain, Industries Commissioner, Gujarat. He was speaking at a seminar on IPRs and its economic importance for trade and industry in Ahmedabad.
Source : indianexpress.com
DDA set to push realty with 8,000 new houses
A housing bonanza is in the offing for Delhi’s burgeoning population. Come April and the Delhi Development Authority (DDA) is likely to announce a new mega housing scheme, where approximately 8,000 flats will be up for a draw.
The houses are spread across the Capital in areas like Jasola, Narela, Vasant Kunj and Dwarka, among others. Of the 15,000 houses currently under construction, nearly 8,000 will be ready by June, senior officials said.
A three-month gap is usually preferred between the announcement of the scheme and the allotment of the houses, an official said. So since the houses will be ready for possession by June, the announcement is likely to be made three months ahead — by the next financial quarter.
More : expressindia.com
Shervani Hospitalities opens second boutique in Delhi
Shervani Hospitalities have opened their second boutique hotel in Delhi at Nehru Place. The 38-room hotel has been built adding all modern features and facilities that a discerning business or leisure traveller would look for from a contemporary hotel. The hotel has standard, deluxe and club rooms equipped with LCD television, electronic safe, Wi-Fi connectivity, mini-bar, tea-coffee maker etc. The hotel also has an all-day restaurant to cater primarily to in-house guests with choice of a la carte or buffet food. A terrace pool, and barbeque will be added to the property in the coming months. This information was divulged by Saeed Shervani, Managing Director, Shervani Hospitalities.
Delhi is short of quality accommodation. With our two boutique properties – Shervani Sundar Nagar and Shervani Nehru Place – we aim to fill that gap and provide quality top end accommodation at affordable prices,” said Shervani after the launch. The property with its unique location at business centre and commercial hub Nehru Place is also surrounded by residential colonies of Greater Kailash, East of Kailash, etc.
Source : hospitalitybizindia.com
Hospitalities Shervani opens second boutique hotel in Delhi
Shervani Hospitalities have opened their second boutique hotel in Delhi at Nehru Place. The 38-room hotel has been built adding all modern features and facilities that a discerning business or leisure traveller would look for from a contemporary hotel. The hotel has standard, deluxe and club rooms equipped with LCD television, electronic safe, Wi-Fi connectivity, mini-bar, tea-coffee maker etc. The hotel also has an all-day restaurant to cater primarily to in-house guests with choice of a la carte or buffet food. A terrace pool, and barbeque will be added to the property in the coming months. This information was divulged by Saeed Shervani, Managing Director, Shervani Hospitalities.
Delhi is short of quality accommodation. With our two boutique properties – Shervani Sundar Nagar and Shervani Nehru Place – we aim to fill that gap and provide quality top end accommodation at affordable prices,” said Shervani after the launch. The property with its unique location at business centre and commercial hub Nehru Place is also surrounded by residential colonies of Greater Kailash, East of Kailash, etc.
Source : hospitalitybizindia.com
Shervani Hospitalities opens second hotel in Delhi
Shervani Hospitalities have opened their second boutique hotel in Delhi at Nehru Place. The 38-room hotel has been built adding all modern features and facilities that a discerning business or leisure traveller would look for from a contemporary hotel. The hotel has standard, deluxe and club rooms equipped with LCD television, electronic safe, Wi-Fi connectivity, mini-bar, tea-coffee maker etc. The hotel also has an all-day restaurant to cater primarily to in-house guests with choice of a la carte or buffet food. A terrace pool, and barbeque will be added to the property in the coming months. This information was divulged by Saeed Shervani, Managing Director, Shervani Hospitalities.
Delhi is short of quality accommodation. With our two boutique properties – Shervani Sundar Nagar and Shervani Nehru Place – we aim to fill that gap and provide quality top end accommodation at affordable prices,” said Shervani after the launch. The property with its unique location at business centre and commercial hub Nehru Place is also surrounded by residential colonies of Greater Kailash, East of Kailash, etc.
Source : hospitalitybizindia.com
Shervani Hospitalities opens second Delhi boutique hotel
Shervani Hospitalities have opened their second boutique hotel in Delhi at Nehru Place. The 38-room hotel has been built adding all modern features and facilities that a discerning business or leisure traveller would look for from a contemporary hotel. The hotel has standard, deluxe and club rooms equipped with LCD television, electronic safe, Wi-Fi connectivity, mini-bar, tea-coffee maker etc. The hotel also has an all-day restaurant to cater primarily to in-house guests with choice of a la carte or buffet food. A terrace pool, and barbeque will be added to the property in the coming months. This information was divulged by Saeed Shervani, Managing Director, Shervani Hospitalities.
Delhi is short of quality accommodation. With our two boutique properties – Shervani Sundar Nagar and Shervani Nehru Place – we aim to fill that gap and provide quality top end accommodation at affordable prices,” said Shervani after the launch. The property with its unique location at business centre and commercial hub Nehru Place is also surrounded by residential colonies of Greater Kailash, East of Kailash, etc.
Source : hospitalitybizindia.com
Shervani Hospitalities opens second boutique hotel in Delhi
Shervani Hospitalities have opened their second boutique hotel in Delhi at Nehru Place. The 38-room hotel has been built adding all modern features and facilities that a discerning business or leisure traveller would look for from a contemporary hotel. The hotel has standard, deluxe and club rooms equipped with LCD television, electronic safe, Wi-Fi connectivity, mini-bar, tea-coffee maker etc. The hotel also has an all-day restaurant to cater primarily to in-house guests with choice of a la carte or buffet food. A terrace pool, and barbeque will be added to the property in the coming months. This information was divulged by Saeed Shervani, Managing Director, Shervani Hospitalities.
Delhi is short of quality accommodation. With our two boutique properties – Shervani Sundar Nagar and Shervani Nehru Place – we aim to fill that gap and provide quality top end accommodation at affordable prices,” said Shervani after the launch. The property with its unique location at business centre and commercial hub Nehru Place is also surrounded by residential colonies of Greater Kailash, East of Kailash, etc.
Source : hospitalitybizindia.com
Clarks Inn Group to foray into Punjab with first property in Amritsar by mid-March 2010
Clarks Inn Group of Hotels, a subsidiary of UP Hotels Clarks Limited, will make a foray into Punjab with the signing of the management contract with Chaddha Group of Companies, a Punjab-based real estate developer, for their first hospitality venture at Amritsar. The 40-room boutique hotel will become operational by mid-March 2010.
Situated on main Ranjit Avenue in Amritsar, the hotel will have all modern facilities to cater to the business and leisure travellers. “The hotel will offer four-star facilities with three conference rooms and one banquet hall with a capacity to accommodate 400 people. On the F&B front, the hotel will have one multi-cuisine restaurant, one coffee shop and a bar. Moreover, it will also have a health club and a pool on the terrace,” informed Pankaj Giroti, Senior General Manager – Operations, Clarks Inn.
S N Srivastava, Vice President, Clarks Inn Group said, “The Chaddha Group of Companies has plans to come up with more hotel projects in future in important cities of Punjab.
Source : hospitalitybizindia.com
Clarks Inn Group to foray into Punjab with first property in Amritsar by mid-March 2010
Clarks Inn Group of Hotels, a subsidiary of UP Hotels Clarks Limited, will make a foray into Punjab with the signing of the management contract with Chaddha Group of Companies, a Punjab-based real estate developer, for their first hospitality venture at Amritsar. The 40-room boutique hotel will become operational by mid-March 2010.
Situated on main Ranjit Avenue in Amritsar, the hotel will have all modern facilities to cater to the business and leisure travellers. “The hotel will offer four-star facilities with three conference rooms and one banquet hall with a capacity to accommodate 400 people. On the F&B front, the hotel will have one multi-cuisine restaurant, one coffee shop and a bar. Moreover, it will also have a health club and a pool on the terrace,” informed Pankaj Giroti, Senior General Manager – Operations, Clarks Inn.
S N Srivastava, Vice President, Clarks Inn Group said, “The Chaddha Group of Companies has plans to come up with more hotel projects in future in important cities of Punjab.
Source : hospitalitybizindia.com
Railways’ Delhi plot attracts at least 30 real estate developers
Indian Railways plan to develop a 15ha plot in central New Delhi has attracted a lot of interest, with at least 30 developers attending a pre-bid meeting on 23 January.
Thirty-six major developers registered for the event. Thirty major firms, including DLF (Ltd), Parsvnath Developers Ltd and the Mantri Group, have attended, said P.D. Sharma, member, projects, Rail Land Development Authority (RLDA).
Initial bids for the project were called earlier this month. They are scheduled to be opened on 4 February.
More : livemint.com
Telenor deal, affordable housing fuel Unitech net
Debt restructuring, sell-off of the telecom business to Norway’s Telenor, and focus on affordable housing saw the countrys second largest real estate firm, Unitech Ltd post a jump of 29.37% in its net profit at Rs 176.01 crore during the October-December quarter. The company had posted a net profit of Rs 136.05 crore during the same period of the previous fiscal.
The period saw Unitech’s total income increasing 57.65% at Rs 774.46 crore, against Rs 491.24 crore during the same period of the last financial year.
Earlier in the week, the countrys largest real estate firm DLF Ltd posted a 30% decline in its net profit. Unitech was the most adversely affected real estate firm in the country last year after the global financial meltdown, with its share price crashing to around Rs 20. A company statement said the firm continued to reduce its debt during the quarter and net debt to equity as of December 31, 2009, stood at a healthy level of 0.55. During the first nine months of the current fiscal, the company reduced its debt by Rs 2,854 crore. The total loan outstanding as of December 31, 2009, was Rs 6,201.70 crore. The company had Rs 611 crore in cash and bank balance as on December 31, 2009.
More : financialexpress.com
Apply myriad lighting themes to embellish home interiors
Bring on the lights! You can change the mood of the house simply by playing on the lighting theme. Whether planning a party, an informal get
together or a dinner with colleagues, you can get lighting techniques that match every occasion! Interior solution brands such as Westwood, House of Raro, Sicis and Evok have a range of options that can light up your home artistically.
Amitabh Bendre, design head of Evok, speaks of the current change in lighting trends. These days people have become very space specific in lighting options. Innovative ideas of lighting can be used to embellish one’s home. For example, sound lighting arrangement is needed for the living and study room while standard lighting is sufficient for bedroom and balcony areas. Besides, there are smart and user-friendly lighting systems which adjust illumination according to day and night light. Evok has many variants of modern lighting such as scones, pendants, lamps and chandeliers which can enhance the beauty of your interiors. Priced in the range of Rs 959 to Rs 29,595, these will fit in well with space requirements too.
But if you are looking at elaborate lighting arrangements such as chandeliers, you can choose the strikingly beautiful ones from Delhi-based interior firm House of Raro. These traditional lighting pieces provide a classic look and stately appearance. The Bolero chandelier looks extraordinary in red. Priced in the range of Rs 35,000 to Rs 1 cr, it translates into pure luxury for your home.
More : economictimes.indiatimes.com
Orbit & DLF: Project execution holds key to future growth show
Third quarter results of realty companies, including Orbit Corporation and DLF, reflect a gradual recovery in the realty sector. Both the companies reported a decent year-on-year (YoY) growth in sales aided by higher volumes and firm prices.
Though the premium-housing segment saw a revival in demand, budget housing dominated overall sales during the quarter. As a result, rise in operating margins was not in pace with the increase in sales. This also impacted the bottomline. DLF, for instance, reported a YoY decline in net profit during the quarter.
DLF also witnessed a sharp fall in its interest coverage ratio from 8.9 a year ago to 3.4. The ratio, which reflects ability of profits to cover interest costs, fell because interest outgo rose during the quarter. DLF’s topline grew 48% from Rs 1,367 crore to Rs 2,025 crore on a YoY basis.
More : economictimes.indiatimes.com
Burglars decamp with valuables ex-govt officers house
Burglars struck at the house of a 78-year-old retired government officer and decamped with cash and jewellery worth around Rs 13 lakh in south-east Delhi, police said today.
The incident took place in the Kalkaji residence of Dheerender Kumar, a retired officer with the Planning Commission, yesterday when the family had gone to a relative’s residence in Ghaziabad, they said.
The family told police that they had left the house at around 10:00 am after locking the doors but when they returned they found the locks broken and Rs 12 lakh cash and jewellery worth around Rs one lakh were missing, police said.
More : ptinews.com
Posco Looks for Solutions to its India Woes
The Korean steelmaker is hoping a visit to New Delhi by South Korean President Lee Myung Bak can clear the way for its $19 billion in proposed India investments Posco has been one sharp steelmaker. The company, based in Pohang on the Korean peninsula’s southeastern tip, has long been a symbol that South Korea’s old economy can still be innovative and profitable. After all, it is the one Korean company singled out by Warren Buffett as an investment target. His Berkshire Hathaway owns 4.5% of Posco, according to data compiled by Bloomberg.
Then why is Posco (PKX) so high on South Korean President Lee Myung Bak’s to-do list during his state visit to India this week? The company has ambitious expansion plans in India, hoping to invest some $19 billion in the country. For instance, five years ago Posco unveiled plans to build India’s largest steel mill in the city of Orissa on the Bay of Bengal. Because of local opposition, though, the $12 billion project has suffered extensive delays and Posco hasn’t even secured a 4,000-acre property promised for the steel plant.
Lee wants to enlist Prime Minister Manmohan Singh’s support in clearing the way for Posco to proceed with its Indian investments. For Lee, a breakthrough in India will give him a major political weapon ahead of local elections in June. Lee, a business icon of South Korea’s growth-at-all-costs era in the 1970s and ’80s, has pledged to lay the foundation during his five-year term till 2013 to lift the economy into the world’s top seven, from the current No. 13. He also has promised to double per-capita income to $40,000 by 2017. A major presence by Korean companies in India, the world’s second most-populous market, would help Lee find new avenues of growth for his nation.
More : businessweek.com
Civic body’s revised budget to focus on night shelters
The Standing Committee of the Municipal Corporation of Delhi (MCD) will present its revised budget estimates for the 2010-11 fiscal before the MCD House on Wednesday for final approval.
The Standing Committee will also present the budget estimates of the MCD Slum and JJ department for approval.
According to the Standing Committee chairperson R K Singhal, the budget estimates emphasise on increasing the MCD’s revenue and have a special focus on night shelters.
More : indianexpress.com
Unity Infra to develop two housing projects for Rs 500 cr
Construction firm Unity Infraprojects today said it will develop two mixed-use housing projects aimed at middle-to-high income segments in Kolkata and Bangalore with an investment of around Rs 500 crore.
We have already acquired 37 acres of land in these two cities. Work on the projects will kick off next quarter, company Chief Operating Officer Yogen Lal told PTI.
The total cost of developing the projects would be around Rs 500 crore, including Rs 90 crore for acquisition of land.
More : economictimes.indiatimes.com
Don’t go to family courts for in-laws’ property: HC
Except for warring spouses, no relative can be dragged to a family court (FC) and the forum won’t entertain claims on property owned by in-laws.
In a significant judgment on Thursday, the Delhi high court explained the role and powers of FCs. It also made clear whether a daughter-in-law [in one case] has rights over a property owned by her widowed mother-in-law.
The court ruled that a partition suit filed in a civil court by Manita Khurana against her mother-in-law Indra Khurana can’t be transferred to the FC. Manita is fighting to get a divorce from her husband in a Delhi family court.
More : dnaindia.com