First, it was the Tatas. Then, DLF. Will it next be ITC — one of the most ardent champions of Brand Bengal — to pull out of a food processing project in the state over contentious land issue? The signs look ominous as the diversified giants plan to set up a Rs 500-crore food processing hub in Sankrail, Howrah, hangs in balance over non-availability of land.

ITC chairman Y C Deveshwar on Friday said it was frustrating that one of Indias biggest corporates was unable to move on a project that would have benefited all stakeholders and created jobs. We are the biggest corporate in the state. ITC has always stuck to Bengal despite many big corporates leaving the state. We want to invest here but cant do it, he said.

He said West Bengal Industrial Infrastructure Development Corporation had initially earmarked 40 acre for the project. Later, one of the plot owners on designated site moved court. Weve paid advance to WBIIDC. But due to legal hurdle, we cant take possession. This is frustrating. We have the money and intention to invest, but the system is such that we cant, he rued.

Source : timesofindia.indiatimes.com

Three houses were burgled in the early hours of Monday in South City-II here.

The robberies took place approximately between 2 and 4.30 am at house numbers 28, 29 and 31 in Nirvana Country, a housing society in South City II, according to the residents who were sleeping in other rooms of the houses.

Ashish Luthra, resident of house number 31, said: We found the room at the back of the house in a mess. I found my laptop, watches, DVD player and clothes missing from the room. The thieves entered the room by removing a window pane of the bathroom attached to the room.

More : expressindia.com

The government expects Commonwealth Games 2010 to be a big draw that will provide us an opportunity to showcase the city in front of an international audience. Chairman of the Games organising committee Suresh Kalmadi told TOI that they are expecting an influx of about one lakh people, including tourists and delegates from across the globe. To host these guests, it has been estimated that 40,000 rooms will be required.

With calculations having gone awry in the past as many projects did not work out, as a fallout of the recession, figures are again being totted up. The ministry of tourism had expressed concern over the space crunch and how various agencies have not delivered on their promises. The organisers now seem to have worked out the maths which will have to be backed by a massive push to meet deadlines.

Kalmadi feels sports tourists generally look for budget accommodation and this will be available in guest houses and under the unique bed and breakfast scheme. Looking beyond Delhi, NCR was a good option: Gurgaon will provide 6000 odd rooms. Distance does not matter, he says, waving off your question. For the Games, people will travel from anywhere. After all, at thetime of the Games, accommodation will be on a `first come first served basis. Everybody cant get accomodation of their choice in Delhi itself, he asserts, underlining the role the NCR will have to play.

More : timesofindia.indiatimes.com

Tobacco-to-hotels major ITC Ltd has lined up an investment of Rs 8,000 crore to scale up its hotels business. The company is looking at both the organic and the inorganic routes to expand and is also open to the idea of picking up a strategic stake in a hotel project.

Addressing mediapersons after the companys 98th AGM in Kolkata, ITC chairman Y.C. Deveshwar said: We are looking at various opportunities in the hotels space within the country. Senior officials from ITC led by chief executive of the developmental cell are scouting for properties in the country. Talks are on with a number of people including real estate developers for acquiring properties. The hotels business continues to pursue an aggressive investment led growth strategy recognising the long-term potential of this sector and the need for greater room capacities commensurate with Indias economic growth. We are extremely bullish about the hotels business. Watch

Elaborating, Mr Deveshwar said, the Rs 8000 crore investment will entail developing hotels in Amritsar, Bhubaneswar, Ahmedabad and Coimbatore. We already have land in these places. Negotiations are also on to set up a hotel in Gurgaon. We have also paid Rs 150 crore to Andhra Pradesh government for a plot in Hyderabad. Unfortunately, the AP government has been dragged to the court on this particular plot, he added.

More : economictimes.indiatimes.com

Full stop to Nano. Question mark over Telcon. But no such flutters for Eden Court or New Town
Heights.

Brand Tata and Brand DLF are shifting gears over their mega housing projects at Rajarhat despite the political upheaval looming over Brand Bengal. Its clear that chief minister Buddhadeb Bhattacharjees most valued brands have left Singur and Dankuni well behind them and are ready to begin all over again. Both are currently working overtime on their condominiums at New Town.

Eden Court is Tata Housings major endeavour into the eastern market and New Town Heights is DLFs prized project also at Rajarhat. Both projects had come under a cloud after the Nano debacle last October and DLFs subsequent decision to pull out of the 4,840-acre Dankuni township project.

Ratan Tata has kept his word. He had promised that none of his other projects in West Bengal would face the consequences of the Nano pullout. And now, the much-awaited Eden Court is ready to take off, said an official of Hidco, the keepers of the Rajarhat township. Ditto for DLF, which opted out of the Rs 40,000-crore Dankuni project over land issues. Downturn was the other big reason. Not for New Town Heights, though. Thankfully, even Tata Housing (a Tata group firm in which Tata Sons holds 97.5 %) hasnt allowed itself to be bogged down by downturn blues.

More : timesofindia.indiatimes.com

Residents of a small Arizona community that serves as a gateway to the Grand Canyon’s popular South Rim are at odds over incorporating.

Tusayan has about 550 residents, and its 144 acres of private land are dotted with houses, hotels, restaurants and shops. Voters defeated a move to incorporate by 16 votes last year.

They’re set to vote on incorporation again in November, but some residents recently filed a lawsuit to block the election.

Supporters say incorporation would give residents a stake in their community and an ability to levy a sales tax on money spent by tourists headed to the Grand Canyon. Critics say it would promote unbridled growth that would cheapen tourists’ experience in an area famous for its natural beauty.

More : blog.taragana.com

A minor blaze was reported at the Raheja Atlantis, a residential complex in Sector 31 here on Tuesday morning.

Fire officials said the fire broke out as a result of a short circuit in an air-conditioner on the fourth floor of the E-wing, in house number 41. The flames damaged a portion of the building in E-wing.

While there were no casualties reported, a security guard of the building received minor injuries while trying to break open a window.

More : indianexpress.com

There is good news — and it’s coming from above. Across the country, cities are reporting a revival of sales interest in premium residential properties. In many cases, this is happening, even though the values have remained mostly unchanged. A few cities, however, have attributed the revival to a marginal fall in prices.

In the premium segment, most of the interest revolves around main city areas and resale properties. “Yes there is a movement in the premium segment but it still stands lower than in the Rs 30-40 lakh segment. Part of the demand for premium buys is coming from the secondary market and partly from the under-construction properties,” says Anshuman Magazine, CMD of global real estate consultancy CB Richard Ellis.

In fact, this time round it is not speculators but end-users who are bargain hunting. An example is the COO of a leading multinational company in Delhi who had been looking for her dream home for three years within a budget of Rs 1.5 cr. But when she found the 3,000 sq ft apartment within her budget, she did not think twice about putting her money in.

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Debt-ridden realty player DLF said today it will sell more land and wind power business this fiscal to raise Rs 1,900 crore and lowered the sales figure for flats.

With a total debt of over Rs 14,000 crore to start the year 2009-10, DLF had been doing everything conceivable, including sale of promoters’ equity in the company as also different projects.

Within twenty days of claiming that it had sold 4,000 flats during three months ending June, DLF’s Group Executive Director Rajiv Talwar told reporters the actual sales figure was just 2,500. “I must have given wrong figures at that time,” he said when reminded about the figures given by him on June 26.

More : business-standard.com

In a move expected to give a big push to the housing sector in Gurgaon and Faridabad, the Haryana Housing Board is in the process of inviting expressions of interest for building 8,000 flats in these cities and some other places in the national capital region areas. This is in addition to the 38,000 housing units, majority of them in NCR, planned in the next two years.

Under the latest project, the state will enter into an agreement with real estate developers to provide affordable housing to middle and lower middle class under the public private partnership mode.

Since we do not have land in Faridabad and Gurgaon, we will be joining hands with private colonizers whose projects have been stuck due to the (economic) slowdown. Well prefer those who have the licence, and then those who have enough land, said S P Gupta, chief administrator of the housing board.

More : timesofindia.indiatimes.com