Indias second-largest real estate developer Unitech has dropped plans to develop two of its six information technology parks in the face of slump in demand from the IT industry. At least 38 per cent, or 8.3 million square feet, of its projected commercial space of 21.4 million square feet in its six parks will thus remain indefinitely on hold.

The rentals from all these parks were expected to generate revenues for its AIM-listed associate Unitech Corporate Park (UCP), which has invested 317 million pounds to acquire majority stakes in all the six seed projects in return of leasing rights.

The two proposed parks, one in Gurgaon and the other in Noida, have not yet attracted any leasing commitment from potential clients.

Completion of the remaining ones will be delayed as UCP has managed to get leasing commitments for just over 30 per cent of the total 13.2 million square feet area that was initially planned in the four IT parks — two in Noida and one each in Gurgaon and Kolkata.

More : business-standard.com

Being a domicile of Haryana and having achieved distinction in certain areas of public life could help you own a plot - an initiative by the government to motivate people to contribute and enrich the state’s social life.

Chief Minister Bhupinder Singh Hooda’s government has floated a policy to offer preferential allotment of residential plots to domiciles of Haryana, who have distinguished themselves in the fields of art, culture, social service, science and technology, judiciary, defence and sports, officials said here Tuesday.

The allotment of such plots to distinguished people would be made at concessional rates compared to the prevailing high market rates, an official said.

More : sindhtoday.net

BioMed Realty Trust, Inc. (NYSE: BMR) announced today the completion of a refinancing of the secured acquisition and interim loan facility originally entered into in April 2007 by its joint venture with a fund managed by Prudential Real Estate Investors to acquire, among other properties, approximately 600,000 square feet of life science space in Cambridge, Massachusetts.

Proceeds from the refinancing were approximately $203 million, and were used to repay a portion of the outstanding indebtedness under the existing secured acquisition and interim loan facility. BioMeds share of the financed amount is approximately $41 million based on its 20% interest in the joint venture. BioMed repaid its remaining portion of the outstanding balance on the existing secured acquisition and interim loan facility by drawing on the companys $600 million unsecured line of credit. The term of the amended and restated secured acquisition and interim loan facility is two years, with an option to extend the maturity for an additional year. The facility is provided by a syndicate of lenders, for which KeyBank National Association is the administrative agent.

Commenting on the transaction, Kent Griffin, President and Chief Financial Officer of BioMed, said, Completing the refinancing of the existing secured acquisition and interim loan facility with our partner PREI(R) represents the achievement of another milestone in managing our debt maturities. We are very pleased to have earned the support and commitment of our lending partners as demonstrated by this financing in an environment in which only the strongest sponsorships have access to credit.

More : news.prnewswire.com

BioMed Realty Trust, Inc. (NYSE: BMR) announced today the completion of a refinancing of the secured acquisition and interim loan facility originally entered into in April 2007 by its joint venture with a fund managed by Prudential Real Estate Investors to acquire, among other properties, approximately 600,000 square feet of life science space in Cambridge, Massachusetts.

Proceeds from the refinancing were approximately $203 million, and were used to repay a portion of the outstanding indebtedness under the existing secured acquisition and interim loan facility. BioMeds share of the financed amount is approximately $41 million based on its 20% interest in the joint venture. BioMed repaid its remaining portion of the outstanding balance on the existing secured acquisition and interim loan facility by drawing on the companys $600 million unsecured line of credit. The term of the amended and restated secured acquisition and interim loan facility is two years, with an option to extend the maturity for an additional year. The facility is provided by a syndicate of lenders, for which KeyBank National Association is the administrative agent.

Commenting on the transaction, Kent Griffin, President and Chief Financial Officer of BioMed, said, Completing the refinancing of the existing secured acquisition and interim loan facility with our partner PREI(R) represents the achievement of another milestone in managing our debt maturities. We are very pleased to have earned the support and commitment of our lending partners as demonstrated by this financing in an environment in which only the strongest sponsorships have access to credit.

More : in.sys-con.com

Projects Today reported that the Haryana government has proposed to spend INR 1,500 crore during the next 2 years in various infrastructure schemes across the state.

However, the state will upgrade six district hospitals at Gurgaon, Hissar, Bhiwani, Faridabad, Sonipat and Rohtak as Multi Speciality State of Art Hospitals during the next fiscal with an expected expenditure of INR 100 crore. A Women Medical College with a 500 bedded hospital will be set up at Khanpur Kalan in Sonipat District with an estimated cost of INR 300 crore.

As per report, the state will spend INR 500 crore in improving water supply and sewerage facilities in towns by 2011. In Phase I, up gradations will be taken up in 16 towns namely Bhiwani, Hansi, Jind, Mahendergarh, Narnaul, Narwana, Sirsa, Thaneshar, Tohana, Uchana, Ambala City, Charkhi Dadri, Pataudi, Samalkha, Gohana and Sonipat.

The India government intends to upgrade and modernize the major Bus Sands across the State in the Public Private Partnership mode on BOT basis. Further, an intra city bus service is proposed to be provided in Faridabad at a cost of INR 200 crore under the JNNURM scheme. It is also proposed to set up intra city bus service in Gurgaon on PPP basis.

(Sourced from Projects Today)

High price of land at Rajarhat has forced the state Government to look for land at Madhyamgram, about 5 km from Dum Dum airport, for setting up an NSG hub there.

Another team of the NSG arrived in the city on Wednesday. It would visit Barrackpore where it would be shown a tract of 10,000 acres of land for the bigger NSG unit, to be built on the lines of Manesar in Haryana.

The NSG is going to set up two units in the state: one, requiring a plot of about 12,000 acres, will be for training, and the other will be a small one, to be set up on 25-30 acres of land, where NSG commandos will be stationed and, in case of any emergency, they will be flown to any part of the eastern and north-eastern India.

More : indianexpress.com

Kalinga Times Correspondent Bhubaneswar, Feb 11: DLF Ltd., India s largest real estate company, has announced the launch of DLF InfoPark, Bhubaneswar . The overall development will be spread over 54 acres offering 25 acres of land for IT SEZ workspace. These 25 acres of land will be DLFs first IT SEZ project in Odisha and will be followed by projects in other cities in the state.

Chief Minister Naveen Patnaik launched the DLF InfoPark, Bhubaneswar in the presence of Industry Minister Biswabhushan Harichandan and IT Minister Surjya Narayan Patro on Tuesday.

This project is amongst the first IT SEZ projects in the state. IT SEZ has received formal notification of an SEZ unit and would enjoy all the benefits of an SEZ.

More : kalingatimes.com

Bhubaneswar , Feb 10 Real estate giant DLF today announced the launch of an IT SEZ — Infopark — here today, entailing an investment of Rs 1,000 crore.
The IT SEZ would play a key role in attracting global IT giants to set up their operations in Bhubaneswar , Orissa Chief Minister Naveen Patnaik said after laying the foundation stone of DLF Infopark, which would come up in phases on 25 acre land and generate about 40,000 direct and indirect employment.

Stating that employment opportunities had increased despite economic slowdown, Patnaik said the new IT SEZ, which is coming up after TCS Development Centre here, would strengthen the required infrastructure in the IT sector.

A progressive policy has recently been unveiled by the state government for promoting small and medium enterprises, the chief miniser said. The DLF project, involving an investment of Rs 1,000 crore, would have ultra modern integrated facilities, a luxury hotel and recreational facilities.

Source : indopia.in

Election Commissioner Navin Chawla, currently in the eye of a storm with the Chief Election Commissioner having accused him of partisanship, is now in the middle of a land row in Rajasthan.

A lower court in Jaipur has asked the police to hold an inquiry into the land allotted to two trusts in which Chawla was the chairman and his wife Rupika was the secretary.

The order comes on a petition filed by a BJP worker in Rajasthan alleging that the Jaipur Development Authority (JDA) had allotted 25,000 square metres of land in the city to Chawla’s two trusts even before they were formally registered.

More : ndtv.com

In Gurgaon, a 4 BHK flat of 1900 square feet can be rented in Vipul Green on Sohna Road. Park View 1 on Sohna Road also offers 3 BHK flats of 1813 square feet to be rented at this rate. A 3 BHK flat covering an area of 1465 square feet can be rented in Sushant Estate in Sector 51 near Ardee City. Parsvnath Green Villa offers 3 BHK flats of an area of 1623 square feet. Regency park in DLF Phase 4 has 2 BHK apartments of an area of 1405 square feet that can be rented within Rs 20,000.

Even Delhi offers a number of options. Sector 9 in Dwarka has 3 BHK flats of an area of 1700 square feet, which are available for rent. Sector 5 also has 3 BHK flats, though slightly smaller at an area of 1550 square feet. Sector 4 has 3 BHK flats of area 1650 square feet In Chittaranjan Park in South Delhi, a 3BHK builder floor of area 1440 square feet on a 160 square yard plot can be rented at this rate. Even the posh area of Greater Kailash Part I has some options. A 2 BHK builder floor of area 1000 square feet can be available. In Lajpat Nagar, a 3 BHK builder floor of 1200 square feet can be acquired at this rate. Society flats in Rohini in the western part of Delhi are also available. Sectors 9, 13 and 16 offer 3 BHK flats of area 1300 – 1400 square feet. Vasundhara Enclave in East Delhi, near Noida has apartments of area 1500-1600 square feet. Saraswati and Aashirwad apartment complexes will house such flats.

In Sector 41 of Noida, a 160 square yard plot can be rented at this rate, containing a 3 BHK floor of area 1500 square feet. In Sector 93, 3 BHK flats would be available on the Noida-Greater Noida Expressway. These flats would be of area 1800 square feet. In Faridabad, an independent plot of area 350 square yards can be rented in Sector 21 C. Independent living is more likely in the peripheral NCR regions, rather than in the heart of Delhi, said Pradeep Mishra, broker with Sainik Estates. Nevertheless, this budget offers numerous options, even in the most upscale parts of Delhi.

More : expressestates.in