Haryanas industry promoter, the Haryana State Industrial and Infrastructure Development Corp (HSIIDC), is creating a land bank of 17,000 acres for industrial units, the corporation announced here Sunday.The new land bank will be earmarked for industrial belts and infrastructure projects being planned in the state, a HSIIDC spokesman said. According to him, HSIIDC spent Rs.10.45 billion on the development of industrial infrastructure in 2008, Rs.1.04 billion more than the previous year.

The investment outlay for these projects, which include expressways, model industrial townships, clusters and dedicated theme parks, has been estimated at a nearly Rs.120 billion (Rs.12,000 crore).

The planned projects include the Kundli-Manesar-Palwal (KMP) Expressway that will help trucks carrying cargo to and from north India bypassing Delhi, industrial model townships at Rohtak, Faridabad, Kharkhoda (Sonepat) and Jagadhari, apart from expansion of such townships at Manesar, Bawal, Barhi, Rai, Karnal and Saha.

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With the Central government deciding to set up a southern regional hub of the elite National Security Guards (NSG) in Chennai, the Tamil Nadu government has launched a hectic search for an ideal location to house the prestigious commando force. The proposal is based on the need to transport special force units quickly into theatres of action anywhere in the country. In the wake of 26/11, which saw commandos being flown in from Delhi to battle the terrorists, the Centre has decided to set up regional command centres for faster mobilisation of forces.

In TN, the main criterion is that it should be a vast tract of land not less than 500 acres in area and in proximity to the airport. Revenue authorities in neighbouring Kancheepuram and Tiruvallur district are hunting for a suitable piece of land. Though the government has not received any official communication yet from the Centre, senior officials said it had begun its search for a location. We are in the process of identifying land. Once we finalise a set of locations, we will get back to the NSG authorities, officials said.

Official sources said the authorities in Kancheepuram have found it difficult to find a contiguous 1,000-acre plot. However, they have found a couple of locations with less acreage. In Tiruvallur district, an unused piece of land to an extent of 1,000 acres given to the Centre sometime ago is seen as a good location for the NSG hub. It is located at Alamari near Red Hills, on the outskirts of Chennai.

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On a recent evening at a luxury Mumbai hotel, shoppers tried on sequined sandals and handmade moccasins at Joy Shoes, an Indian family business that has sold out of its only shop for nearly 70 years.

Starting at Rs3,500 for a pair of mens shoes, Joy is not cheap. But the key to its enduring popularity, says Munna Javery, the third-generation owner, is knowing what customers want and maintaining relationships with them over the years. These are just two of the challenges facing global luxury retailers in India.

Despite a growing number of millionaires, India lags emerging market peers China and Brazil due to a lack of quality retail space, high import duties on luxury goods, a cap on ownership in local units, excessive red tape and piracy.

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Given the global financial crisis, 2009 shows every sign of being a slow year for retail sales. To lure upscale customers, who have tightened their alligator-skin belts and cut down on discretionary spending as a reaction to economic volatility, some of the globes biggest brands are coming up with attractive price cuts. Even in India, where nobody is voicing the dreaded R word, the finance minister has asked the consumer goods industry to cut prices to boost demand. The result is that this is perhaps the best time for aspirational customers to stock up on brands, both top-end and budget classes. Here is a selection of bargains on offer:

Discounts on hotel stays
As hotels lose corporate bookings in the face of the global downturn, they are fighting back with freebies. One of the hottest deals currently on offer comes from the Marriott group. Stay for two nights at any of their Indian properties till 11 January 2009 and get credit worth Rs 3,000. This can be redeemed either at the spa, for a room upgrade or for dining out. The newly opened Park Plaza hotel in Noida is quoting Rs 8,999 a night for a double room till December 31. The rack rate is Rs 13,000. If you are heading to the US, Europe or Southeast Asia, check into a Ritz Carlton hotel to avail of the Reconnect package, featuring stay, breakfast and up to a $200 resort credit.

Hot deals on wheels
In the face of plunging stock markets and rising pink slips, car manufacturers are finding it hard to sell premium vehicles. Porsche Indias managing director, Rod Wallace, has admitted that slow sales are expected in the last quarter of this financial year. In an attempt to boost sales, the brand has tied up with Reliance Capital to offer takers easy financing. Porsche has also introduced a pre-owned car programme in India, which would involve refurbishing a pre-owned car and re-selling it with company warranty for up to 24 months. Given that luxury car patrons change their wheels every three years, you get a practically new car at a much lower price (up to 60% cheaper), but with guaranteed after-sales service. If you want something cheaper, there is the Honda Civic Hybrid version that now costs Rs 13.36 lakh, Rs 8 lakh cheaper than in October 2008. This is the biggest price cut in Indian automobile history, so make the best of it.

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Unitech, Indias second-largest realtor by market capitalisation, has found a buyer for its 200-key Marriott Courtyard hospitality project in Gurgaon.

Sources close to the development said the company has sold the hotel for Rs 265 crore.

Earlier, Unitech managing director Sanjay Chandra had told reporters they would not sell the property for anything less than Rs 300 crore.

An SMS query sent to Chandra remained unanswered.

However, a company official told DNA Money on condition of anonymity, We have already closed the deal. The paperwork is on and we will officially announce the sale next week.

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Barely three months ago, Haryana Chief Minister Bhupinder Singh Hooda proudly proclaimed that the state has received 94 Special Economic Zone (SEZ) proposals, translating into an investment of Rs 2 lakh crore and many thousand jobs. But by all indications, it appears that an overwhelming majority of these projects shall remain on paper only, with only four or five moving forward. Even the proposals that were approved and notified are grappling with problems. What is also becoming clear is that small sector-specific SEZs have an advantage over mammoth multi-product ones.

Arun Kumar, Director, Industries, Haryana told The Indian Express, Of the 94 proposals, only four or five are moving forward. This can be attributed to the pervasive economic slowdown. When the overall industrial growth of the country is sluggish then surely, SEZs, which are basically projects to promote manufacturing, would take a hit.

Chief Minister Hooda, too, admits that the slowdown is impacting the state. Haryana is not insulated from the overall economic state of affairs. None of our projects are delayed due to land acquisition problems, he told this newspaper.

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Sweeping aside the cloud hovering over the economy to seize its silver lining, Punjab has taken the road to development with new projects that seem to promise a better tomorrow. Barely two days after approving 11 projects that hold the future to 20,000 new jobs, the state government welcomed two mega housing projects - likely to create 6,000 new jobs - with an investment of over Rs 1,200 crore in Mullanpur area of Mohali district.

Omaxe and DLF submitted their project proposals to the government on Thursday, said sources. While Omaxe has proposed to invest Rs 202.5 crore for 185 acre and provide jobs to over 1,000 people, DLF - with a much bigger plan - has decided to plough in Rs 1,000 crore for 170 acre, creating employment for 5,000 people.

These two projects are the first to grace Mullanpur after its master plan was approved. As companies have started approaching Punjab Urban Development Authority (PUDA) with their projects, in the coming days this area will witness vibrant construction activity, said a PUDA official.

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BL reported that the downturn in real estate has left many in a quandary and private equity funds are no exception. Some of them now are looking up to more established promoters and developers to bale them out from large size projects such as special economic zones.

Mr Arun Nanda executive director of Mahindra and Mahindra said that some private equity players had recently approached him to take over two notified SEZ projects in Maharashtra, while declining to furnish details stating that it would hamper prospects.

Industry sources said that more than half of the 260 odd notified SEZs would either not come up or the timeframe would be extended. This, they say it would make their exit options difficult.

Last week, the countrys largest developer DLF asked the Commerce Ministry to denotify its IT SEZ in Delhi as it would be difficult to sell office space in the midst of the slowdown.

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Buoyed by robust sales in mid-income housing, real estate giant DLF on Monday said it will invest Rs 15,000 crore over the next three years to develop various residential projects across the country in Rs 15-40 lakh range.

DLF, the countrys biggest real estate developer, had last year announced its plan to enter into mid-income housing segment, realising the huge untapped demand in this category.

We will be investing Rs 5,000 crore a year over the next three years on mid-income housing projects, DLF Home Developers Vice President A Harikesh said.

More : financialexpress.com

By entering into related-party deals without shareholder approval, the firm has done irreparable damage to India Incs reputation.

Minority shareholders of Satyam Computer have every reason to feel short-changed. Without so much as by your leave, the management has decided to enter into related –party transactions using the company balance sheet.

Satyam will spend $1.3 billion to acquire the entire stake in Maytas Properties, an unlisted firm owned by the promoters of Satyam. It also plans to buy 51 per cent in Maytas Infrastructure, a listed firm in which the promoters of Satyam own 36 per cent, for around $300 million.

More : business-standard.com