Chennai
Residents across Chennai have been complaining about sewage overflow for the last few months. However, the civic bodies are yet to take up any action to address the issue. Residents of Sixth Street, R.V.Nagar, Anna Nagar, have been putting up with stench, flies and sewage on the road. Sewage has been overflowing from manholes in [...] Continue Reading »
As for the quarter ended June 30, 2012, Mahindra Lifespace Developers Ltd (MLDL) has posted a 72 per cent rise in net profit. The strong position of the company is reflected in its operating expansion as it has launched the second phase of its project at Nagpur. Also, during the quarter, it has acquired two [...] Continue Reading »
The leading UK-based industrialist The Hinduja Group has announced its entry into the real estate industry of India. The group with a global presence in core sectors like oil and gas, automotive, power, IT, banking and finance announced an investment of up to $ 15 billion in Indian realty. The group has already acquired a [...] Continue Reading »
Due to less supply and delayed monsoon, cement costs rose to Rs 55 per bag across markets. A source said the hike will not stay long since it is due to supply shortage and onset monsoon. South has witnessed a mixed trend with Hyderabad and Bangalore seeing a correction of Rs 5 per bag, and [...] Continue Reading »
The US Consulate in Chennai is all set to open American Business Corners in Kochi and Thiruvananthapuram to provide further stimulus to the US-Kerala bilateral business relations. The American Business Corners- or ABCs- will be opened in the two cities in September to coincide with the Emerging Kerala Summit. The US consulate will participate in [...] Continue Reading »
The Chennai Corporation has made arrangements for property tax payments at counters of any of the 146 branches of three designated banks from today onwards. It was planned earlier but delayed due to technical glitches. However, the facility will be started with three banks: Indian Overseas Bank (74 branches), City Union Bank (31 branches) and [...] Continue Reading »
Realty giant DLF is all set to sell at least two out of the three non-core businesses as it plans to cut its Rs 23,000 crore debt to about Rs 17,000 crore in the current fiscal. DLF Group Executive Director Rajeev Talwar revealed that the group is all set to sell its luxury hospitality chain [...] Continue Reading »
Empee Group, which is currently into the businesses of hospitality, liquor, sugar and power, is preparing to venture into the real estate sector. Initially, the focus would be on residential projects. The company would start two projects on a land bank of around 20 acre. It is planning to set up two residential projects with [...] Continue Reading »
In a recent report, Jones Lang LaSalle India (JLL) suggested that as compared to some major cities like Mumbai, NCR, Bangalore, Pune and Chennai, cities like Ahmedabad and Kolkata have an advantage due to high proximity of affordable housing projects to city center. At 15-20 km Ahmedabad and Kolkata offer the closest proximity to central [...] Continue Reading »
Though hotel business may have been witnessing a slow growth in the recent years, the InterContinental Hotels group is buoyant about the long-term demand in the country and is planning to develop 47 hotels within next five years. Chris Moloney, chief operating officer, South West Asia, IHG told at the moment the hotel chain is [...] Continue Reading »
